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7 months ago

War, Peace and the Green Economy

  • Text
  • Green economy
  • Peace
  • War
  • Ukraine
  • China
  • Africa
  • Europe
This magazine is about the world’s collective and potentially transformational journey towards a green economy. It is also about taking you, the reader, on what we hope is an equally fascinating ”green voyage” across some key parts of Europe as well as to Africa and China.

HOW OTHERS SEE THE EU

HOW OTHERS SEE THE EU Just as the EU is trying to do through its Green Deal, China’s international pledges of reaching a carbon-emissions peak before 2030, plus achieving carbon-neutrality around 2060 (which were made at the UN General Assembly in September 2020), are being integrated into the country’s 14th Five-Year Plan (2021-2025) for National Economic and Social Development . By 2030, the share of non-fossil energy in primary energy use will account for around 25 percent in China while EU has set a binding target of 32 percent for renewable energy in the bloc’s energy mix by 2030. According to the document, the central government in China supports the provinces, municipalities and autonomous regions if they have the right conditions to meet these goals ahead of schedule. EU cutting-edge, but China catching up fast China has also announced a mega-plan for building 450 gigawatts (GW) of solar and wind power-generation capacity in its western regions, while trying to bring the country’s total wind and solar capacity to at least 1,200 GW and to cap its carbon emission to a peak by 2030. Provincial governments in China are competing with each other in trying to take the lead in meeting these goals, scientists and researchers are actively exploring low-carbon technological breakthroughs, financial institutions are offering ample incentives and businesses are seeking new investment opportunities. Many are keen on cooperating with their European partners on an array of green development initiatives. The EU hosts many renowned research-based universities, excellent scientists, and many cutting-edge companies, which give the bloc a strong competitive edge on achieving the green transition. The EU should therefore take a closer look at green investment opportunities in China. In fact, China is catching up fast. For example, several Chinese automakers are planning to sell electric passenger vehicles in the EU. Hopefully, just as China kept its market open for Europe’s auto industry, the EU will ensure a market-open policy and welcome those low-emission or green vehicles from China, which will help realise the EU’s climate transition. Such cooperation will be mutually-beneficial, helping to create jobs and expand green research and development. A ‘fake’ ski slope, built for the 2022 China winter Olympics. Source: Wikimedia Support truly independent European news by becoming a member ← subscriptions@euobserver.com MONTHLY YEARLY SUBSCRIBE €19 €150 Short-term commitment Best value, save 34% Responding to demands from European and Chinese businesses, China and the EU should deepen their green partnership and set an example to other countries by promoting fair competition in opening each other’s market, sharing new technologies, financing green investment and facilitating exchanges among businesses and scientists. This will not be easy given the current geopolitical environment and fears in the US and the EU at China’s rise. The EU, for example, may turn away from such cooperation as part of its drive for more strategic autonomy and amid calls for protection of its so-called core technologies. For example, the carbon border tax, included in the EU’s Green Deal, may cause unfair and increased tax burden for Chinese and other exporters. In addition, Too many regulatory barriers will also be harmful. many have also questioned whether the complicated procedure of imposing the carbon border tax is in line with the rules set by the World Trade Organization. It is a very challenging world, made even more complicated and dangerous by the Russia-Ukraine war. By working together on the green transition, China and Europe can play their part in building a better world and realizing a global green dream. ◄ About Fu Jing Fu Jing is executive vice president of Xiamen Torch Academy in China’s coastal city of Xiamen. He previously worked as a journalist in Brussels and authored Twin Engines of Global Development (2017) and Testing Time (2019) - both reviewing Sino-EU relations. print magazine website daily newsletter social media 35

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