We Should Strengthen International Cooperation And Jointly Promote Green Recovery

At present, the world economy is experiencing increasing instability and uncertainty, and global green and sustainable development is facing severe challenges.The just-concluded second Global Green Goals Partnership 2030 Summit called for further strengthening of international cooperation, supporting developing countries in achieving green and low-carbon transition, and jointly promoting green recovery of the global economy after the epidemic.

The two-day 2nd Global Green Goals Partnership 2030 Summit concluded on May 31.The summit, hosted by the Republic of Korea, was held via video under the theme of "Inclusive Green Recovery" and attended by leaders of more than 60 countries and international organizations.The Seoul Declaration issued after the meeting calls for promoting the global energy transformation and green recovery by expanding the development and utilization of renewable energy such as solar and wind energy.China has actively advocated promoting green economic recovery after the epidemic and played an important role in promoting international cooperation, which has been highly recognized by all participants.

We stressed the importance of promoting green and low-carbon transformation around the world

At present, the epidemic is inflicting enormous losses on global economic and social development.People are aware that green recovery has become an important solution and growth driver to address the serious problems caused by the epidemic as well as the challenges of promoting sustainable economic development and climate change.

The participants agreed that the climate crisis has gone beyond the scope of environmental issues and has an impact on economic, social, security and other related fields. It has become an international issue that needs to be resolved urgently.International cooperation is crucial to the achievement of the Paris Agreement and the Sustainable Development Goals.The parties stated that they will strive for green recovery as an inclusive development process, taking into account the different national conditions of different countries and the needs of socially and environmentally vulnerable regions.

In her speech, IMF Managing Director Georgieva said a greener, more climate-resilient world economy is essential for a more sustainable and inclusive global economic recovery.She suggested expanding green investment, increasing support for poorer countries, strengthening international cooperation and harmonizing green financial standards.

According to the IMF study, economic policy tools can help achieve carbon neutrality while supporting economic growth, employment and income equality.For example, the right combination of carbon taxes and green investment incentives could raise global gross domestic product growth by about 0.7 per cent over the next 15 years and create about 12m new jobs by 2027.

Increased investment in new low-carbon technologies in key sectors such as power, transport, industry, construction and fuel will boost global economic growth by about 1.1 per cent a year, create 9m jobs and reduce greenhouse gas emissions by 4.5bn tonnes, according to a study by the International Energy Agency.The IEA called for the immediate large-scale deployment of all available clean and efficient energy technologies, as well as a major global push for technological innovation.

We call for support for green reconstruction in developing countries

At present, the global green recovery has shown positive signs.Geoffrey Okamoto, First Deputy Managing Director of the International Monetary Fund, said technological innovations over the past decade have made a green recovery not only more viable, but also more pro-growth.

Regionally, many countries and regions around the world have formulated green recovery plans and set medium - and long-term carbon emission targets.China has announced that it aims to peak its carbon dioxide emissions by 2030 and become carbon neutral by 2060.The EU plans to devote at least 37 per cent of its recovery funds to green transformation.Japan and South Korea have also announced their own carbon neutral targets and announced policies to support them.

Participants pointed out that the green recovery benefits all, but there is an urgent need to fill gaps in finance and technology, especially to support green reconstruction and green development policies in developing countries after the epidemic.

Indonesian President Joko Widodo says the synergy between green growth and investment and job creation is important.Green cooperation, including financial assistance and technology transfer, will contribute to sustainable development of the global economy.Uzbekistan plans to more than quadruple the share of renewable energy in the next 10 years through large-scale projects such as solar and wind power, President Mirziyoyev said.

ADB Vice President Ahmed Saeed said that about 75 percent of ADB's financial projects will support green development by 2030, and international cooperation is particularly important to achieve this goal.To kick-start green recovery, we need to address the issues of finance, technology and commitment. In particular, we need to increase financial and technological support to developing countries.

Recognize China's contribution and important role

As the world's largest producer of renewable energy, China adheres to the new concept of innovative, coordinated, green, open and shared development, actively advocates green recovery of the global economy after the epidemic, and strives to promote international cooperation, which has been supported and recognized by participants.

Fatih Birol, head of the International Energy Agency, said China has made great achievements in clean energy technologies, such as solar power, hydroelectric power and nuclear power, setting a good example for other countries.In the power sector, China's installed capacity of new renewable energy has continued to increase, which is important to achieving the net zero emissions target, the agency's data showed.

Li Yingzhou, chairman of the Chinese Academy of Political, Economic and Cultural Studies in South Korea, said that in recent years, China has made great efforts to promote ecological civilization and made unremitting efforts with other parties to build a clean and beautiful earth, and made remarkable achievements.China has taken the initiative to step up its emissions reduction commitments under the Paris Agreement and advocate green recovery of the world economy. This demonstrates China's confidence in its own green development and its commitment to global sustainable development.

Claudia Vernodi, head of China-Europe Digital Association in Belgium, said that China has actively responded to climate change by integrating carbon peak and carbon neutrality into the overall plan of economic and social development, which is a strong proof of China's commitment to green and low-carbon development and is crucial for tackling global climate change.

Georgieva said China's proposed carbon peak and carbon neutrality targets show important leadership in the fight against global climate change and highlight the global consensus on this.