COP28: Green BRI a ray of hope

Editor's note: Shakeel Ahmad Ramay, a special commentator on current affairs for CGTN, is the CEO of the Asian Institute of Eco-civilizationin Pakistan. The article reflects the author's opinions and not necessarily the views of CGTN.

The world is stuck between development and climate change challenges. World leaders are struggling to find a way to pursue the development agenda by adhering to principles of sustainable development and ecological civilization. The climate change problem is unprecedented in the history of humans and has put the planet's future at stake. Thus, the world will have to find innovative solutions to materialize the vision of low-carbon growth, sustainable development and ecological civilization.

Against this backdrop, global leaders, experts, scientists and activists are gathering in Dubai to attend the 28th meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28). How the international community can join hands to combat climate change and its impacts without compromising on the development goals is at the top of the agenda. Participants have been deliberating the same issues for almost three decades. They have gathered, discussed and dispersed to meet the following year.

The dominance of the Global North at the United Nations Framework Convention on Climate Change (UNFCCC) is the primary reason for slow progress. The Global North dominates the discourse and steers the process according to their preferences. They follow a set pattern of discussion and decisions; after every few years, they come up with a new slogan to attract attention and tell the people that they are serious. They make promises, but the action part is largely missing from their priority list.

In 2015, the Paris Agreement was adopted. They promised they would be serious this time, but their actions do not show any seriousness.

The Global North does not seem in the mood to fulfill its promises and take concrete actions. Look at the data, and you will find that developed countries are still leaders in producing electricity from coal. The U.S., the most developed country, produced 20 percent of its electricity from coal in 2022. Germany, another proponent of renewable energy, is producing more than a third of its electricity from coal.

However, one thing is different this time. The Global North has successfully diverted attention from the states to the private sector. Since COP26, the private sector has become the main point of discussion for financing the fight against climate change. The United Kingdom, the U.S. and their partners quite smartly created the Glasgow Financial Alliance for Net Zero. It is a consortium of private companies and investment houses to pool resources for lending. Mark Carney, UN Special Envoy for Climate Action and Finance and COP 26 Finance Advisor to the then-UK Prime Minister Boris Johnson, has claimed that the total assets of companies committed are around $130 trillion.

The Global North is presenting the private sector as a messiah in fighting back against climate change. However, few people talk about the private sector's historical role in creating the climate change problem. Thus, many believe the private sector is again pooling resources further to exploit the world in the name of climate change. The other problem with the private sector is that they can back off from their commitments anytime. If they feel there is no profit in investing in climate change, they can take out their money. Thus, the private sector cannot assume the role of the state.

Despite repeated calls for action and refocusing on the role of the state from the Global South, the Global North is not ready to address the concerns of developing countries. They avoid fulfilling their commitments according to equity and historical responsibility principles.

In this context, the Belt and Road Initiative (BRI) is a ray of hope. It has all the ingredients that can help the world achieve its development goals by adhering to the principles of sustainable development and ecological civilization. The BRI plays a huge role in assisting the Global Southto build infrastructure, enhance trade, create jobs, reduce poverty, and bridge the investment gap.

Moreover, being a responsible emerging power, China realized that development without protecting the environment and reducing greenhouse gas emissions would be of limited use. Thus, since its debut, "green" has been part of its conceptualization.

China is focused on taking concrete actions to implement the green BRI vision. To begin with, China started to divert investment toward green energy, infrastructure and industry. China announced in 2021 that it would no longer build new coal-fired power projects overseas.

In addition, China worked with BRI-participating countries to build low-carbon demonstration zones to build their capacity to combat climate change-related challenges. China has also been putting efforts into building capacity through programs like the Green Silk Road Envoys Program, which has trained 1,500 environmental officials since 2019. Meanwhile, China is promoting the use of technology for greening the BRI.

The deep dive into BRI reveals that it is not only trade, infrastructure, or logistics. It equally focuses on green goals. It looks to promote resource efficiency, tackle climate change, ensure healthy and productive ecosystems, and environmental governance. It also encourages using technology, building human and financial capacity, and data gathering and sharing to make the BRI a genuine green program.

China is not only talking about the green BRI, but it is also taking practical steps to make it happen. The Chinese leadership is determined to deliver on the promises of green BRI and development. Facing climate change, the green BRI is a ray of hope for the world.

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