ST editor Jaime Ho moderating a panel discussion with Mr Liu Zhenmin, Beijing’s special envoy for climate change, Professor Julie Zimmerman, Vice-Provost, Planetary Solutions, at Yale University and Professor Kim Sang-Hyup, co-chairperson of South Korea’s Presidential Commission on Carbon Neutrality and Green Growth.
“Globally we need to be united to avoid these unilateral actions. They are going to raise the cost,” he told a panel discussion on unlocking climate leadership in a competitive world moderated by Mr Jaime Ho, the editor of The Straits Times. This rapid growth in China, fuelled by state subsidies, has helped slash green energy costs globally and further investment will drive costs down even more, Mr Liu.
COP29 will be a major test of cooperation and willingness to step up the fight against climate change. At the summit in the Azerbaijan capital, Baku, nearly 200 countries will be tasked with agreeing a new global goal for funding -- called the New Collective Quantified Goal. Differences were laid bare during preparatory talks for COP29 in Bonn, Germany, that wrapped up on June 13. There were deep disagreements over the size of the goal, who should pay, how much and where the money will come from, for example taxes on fossil fuels or debt swaps.
India, African countries and small island nations have said more than US$1 trillion should be raised per year, but with mixed views on how much of this should come from government coffers.Small islands join forces on debt relief ahead of UN climate talks