China News Service, Boao, March 27 (Reporter Zhang Wenhui) Climate change brings huge challenges to human sustainable development. How should the international community speed up action to achieve the global temperature control goals set by the Paris Agreement? What are the current challenges and opportunities in climate investment and financing? On March 27, at the "Accelerating Action on Climate Change" sub-forum held during the Boao Forum for Asia 2024 Annual Conference, people from different fields such as politics, think tanks, business and financial institutions discussed the above issues and called for strengthening international cooperation. cooperate.
On March 27, the Boao Forum for Asia 2024 Annual Conference held a sub-forum with the theme of "Accelerating Action to Address Climate Change". Zhang Wenhui/photo
Javier Castellano, deputy secretary-general of the International Federation of Red Cross and Red Crescent Societies, pointed out that climate change will not only cause water scarcity and affect the use of wood, but will also bring about extreme poverty, triggering urban-rural disparities and national differences. The differences between countries ultimately affect the countries themselves, and the countries that have been hit hardest are precisely low-income countries.
Hans-Paul Bockner, global chairman emeritus of the Boston Consulting Group, pointed out that some traditional cement, steel, and oil refineries still have carbon leaks. "To effectively reduce waste and leakage, on the one hand, it is to reduce emissions, on the other hand, it is to reduce costs. All companies can find corresponding opportunities to reduce resource use and energy use, and make everything a reality."
Moderator of the sub-forum: Zou Ji, CEO of Energy Foundation and President of China. Zhang Wenhui/photo
Liu Zhenmin, China's special envoy for climate change affairs, called on us to have entered an era of carbon-neutral energy transformation that all countries in the world must achieve. No country should hesitate and everyone must participate.
Gao Jifan, chairman of Trina Solar Co., Ltd., also said that strengthening international cooperation in clean energy and green energy, green cooperation is the fundamental way out. Only by going all out to promote the clean energy transition can we move towards a zero-carbon future.
Liu Zhenmin, China’s special envoy for climate change affairs, attended the sub-forum. Zhang Wenhui/photo
For the world to achieve carbon neutrality, Liu Zhenmin believes that four things must be done. First, renewable energy must be increased on a large scale globally, including photovoltaic, wind power, hydropower, nuclear energy, etc., so that renewable energy can play an important role in the energy structure. Proportion plays a dominant role; secondly, it is necessary to realize that renewable energy cannot completely replace all energy sources. It may be necessary to maintain some traditional fossil energy, and strive to achieve clean utilization of the retained fossil energy; third, continue to protect the ecological environment on which human beings depend, and protect forests, wetlands, reservoirs, oceans, etc.; fourth, We must realize that achieving carbon neutrality is not only the responsibility of the government and enterprises, but also the obligation of everyone. Only with everyone involved can humanity achieve carbon neutrality.
Ma Weihua, member of the United Nations Development Program's Sustainable Development Goals Impact Steering Committee and chairman of the China Enterprises Association Entrepreneurs Club, attended the sub-forum. Zhang Wenhui/photo
Climate action requires massive investment, but the cost of inaction is far higher. Ma Weihua, a member of the Sustainable Development Goals Impact Steering Committee of the United Nations Development Program and chairman of the Entrepreneurs Club of the China Enterprises Association, said that the large carbon emissions gap is mainly due to weak driving forces and the absence of a strong driving force for climate investment and financing. "At present, although there are many debt instruments for carbon emissions, they lack a unified standard and a fair evaluation of the disclosed content, so there is insufficient endogenous motivation. After all, climate investment and financing requires a large amount of time, a long time, and little return. There is no Endogenous motivation is not willing to do anything, so the innovation of financial products is very important. It is necessary to diversify and compensate for risks, establish hybrid financing tools, and fully address investors' concerns, so that investment and financing can be mobilized to the maximum extent." Ma Weihua said.
Liu Zhenmin emphasized that from a global perspective, whether it is a debt crisis or a slowdown in economic growth, the international financing market is not optimistic. But to deal with global climate change, it is not just some countries but all countries that need to take action. Therefore, in the next step, we must pay attention to the financing issues of developing countries.
Stuart Green, CEO of Macquarie Bank, attended the sub-forum. Zhang Wenhui/photo
In addition, Macquarie Bank CEO Stuart Green also said that we need a very developed carbon market so that carbon can be traded globally like other commodities and truly manage carbon emissions as a cost. , thereby achieving transformation.
Ma Weihua said, "'Double carbon' is an unprecedented technological revolution and social change that affects production methods, lifestyles, and human behavior and thinking. The whole society must adapt to this method, so that carbon reduction can become action. Our The crisis can be resolved," Ma Weihua said. (over)