The ongoing COP28 UN climate change conference in the UAE is a critical juncture in addressing global climate challenges. CGTN’s Enoch Wong caught up with thought leaders and experts at the U8 World Innovation Summit to discuss the significance of COP28’s ambitions and aims to forge a clear path forward in combating climate change.

A Focus on Actionable Plans and Economic Impacts

Keynote speakers emphasized the necessity of transitioning from broad consensus to actionable plans. One speaker highlighted past conferences' failures to detail funding mechanisms for supporting developing countries, underlining the urgent need for a clear, detailed strategy at COP28. The discussion also brought to light the significant roles of major economies like China and the United States. As major contributors to carbon emissions, their involvement is crucial. 

Zhou Mi, Senior Research Fellow at the Chinese Academy of International Trade and Economic Cooperation, said China and the United States, two very important economies, will also benefit if they can reduce carbon emissions.

"Because it's not only related to the climate and our shared planet, but also contributes to economic levels," Zhou said.

Rethinking Resource Management and Corporate Responsibility

A bold proposal was made regarding the management of natural resources. Einar Tangen, Senior Fellow of Taihe Institute and Chairman of Asia Narratives, suggested that resource-rich countries should "join hands like an OPEC" in pricing their commodities to sustainably manage climate change and development. This approach challenges the current economic order, aiming to empower developing nations in the global market.

The exploitation of children in mining rare earths was also highlighted as a critical issue, shifting blame from governments to corporations seeking cheap resources. "It's the fault of the companies that want to get cheap, rare earth and who do not really care in the fact that these rare earths are being mined in the mud by children," Tangen said, adding that this underscores the need for corporate responsibility in the global fight against climate change.

The Role of Consumers, Companies, and Youth

The speakers stressed the importance of consumers in energy use and technology adoption. Changing consumer preferences is seen as essential to advancing sustainable practices. Zhou pointed out, "Consumers are a very important part of the equation too, as they have to be led about the expectation about how can we use energy better."

Youth engagement was another focal point. Recognizing the long-term nature of climate commitments, speakers emphasized the role of youth as future leaders. This sentiment echoes the broader perspective that today's youth are not just beneficiaries of climate action but active participants in shaping a sustainable future.

COP28 stands as a call for actionable, detailed strategies in climate finance, corporate responsibility, and resource management. It underscores the importance of major economies, consumer behavior, and the pivotal role of youth. The discussion on COP28 reflects a growing consensus: effective climate action requires comprehensive cooperation, innovative thinking, and a commitment to future generations.