Geneva: As part of the World Trade Organization (WTO) Public Forum 2024, the Center for China and Globalization (CCG) held a seminar here on Tuesday, which focused on leveraging China’s green transition for global climate mitigation.
The session titled “Leveraging China’s green transition for global climate mitigation: perspectives, opportunities and challenges,” was moderated by Wang Huiyao, founder and president of CCG.
During the session, which was attended by more than 100 participants from WTO members, media outlets and think tanks, representatives from China, the United States, Europe and Africa discussed China’s green transition, relevant policies and its implications for climate change response.
Former WTO Deputy Director-General Yi Xiaozhun stated that China’s renewable energy industry has made a significant contribution to global emissions reduction.
In 2022, China’s wind and photovoltaic power products helped other countries reduce carbon dioxide emissions by approximately 573 million tons, pro
viding consumers in various countries with more affordable renewable energy products, which also helped alleviate inflationary pressures, Yi said.
The development of China’s new energy industry is not by virtue of government subsidies, Yi said, pointing out that relying on subsidies could never create a healthy industry.
The growth of China’s renewable energy sector has been driven more by intense market competition, rapid technological iteration, and an ever-expanding market scale; government policies have played a signaling role by encouraging research and development, building infrastructure, and nurturing consumer markets, Yi said.
He cautioned against using climate action as a pretext for protectionism. “Tackling climate change and promoting green economic transitions should not come at the expense of violating WTO rules. Nor should it weaken the multilateral trading system.”
Former Kenyan Foreign Minister Amina Mohamed stressed that the green transition in African countries would bring enormous oppo
rtunities in renewable energy, infrastructure and mineral processing. However, attracting foreign investment and technology, as well as building local production capacity, is essential. Strengthening international cooperation is crucial, while subsidy wars and protectionism would pose challenges for Africa.
Elvire Fabry from the Jacques Delors Institute pointed out that although there are frictions between Europe and China over electric vehicles, given China’s dominant position in the new energy industry chain, the EU needs to engage with China and attract Chinese companies to invest in Europe for its green transition.
Adam Posen, president of the Peterson Institute for International Economics, urged Europe and China to strengthen cooperation and reach high-standard bilateral agreements.
The panelists concurred that national policies for addressing climate change and promoting green transitions should not violate multilateral rules. The WTO should play a key role in setting a positive trade agenda and stre
ngthening coordination between trade and other policies.
The four-day WTO public forum, which kicked off on Tuesday, will feature over 130 sessions, drawing nearly 4,400 participants from governments, businesses, academia and various sectors of society.
Source: The Namibia News Agency