ISLAMABAD: Pakistan can resolve the issues posed by climate change and minimise its effects by following in the footsteps of its trusted neighbour and all-season friend China, WealthPK reports.
China has already finalised arrangements to launch the “Green Corridor” initiative to reduce carbon emissions and minimise the effects of climate change in its partner countries as a part of the Belt and Road Initiative (BRI).
In this connection, a climate change seminar was organised by KTrade Securities in Karachi to find ways and discuss possible solutions to the degrading environment due to climate change in the region.
“For nations like Pakistan, China’s climate change solutions are more practical. Due to its status as a developing country, China can relate to the problems faced by other developing nations and devise a strategy that is more appropriate and effective for combating climate change,” Muhammad Ali Farid Khwaja, the Chairman of KTrade Securities Limited, told the seminar.
He termed climate change one of the fundamental threats to life. “A Green Corridor will be established with the cooperation of China to focus on the agricultural environment, food security and green development as part of the collaboration between the two countries toward a green future,” he added.
According to a report on climate change published by KASB Securities, effective measures have been taken in the power industry, the main source of carbon emissions in Pakistan, to combat climate change.
According to the joint statement by China and Pakistan, China also supports its businesses taking part in Pakistan’s efforts to pursue green, low-carbon and environment-friendly growth.
Both countries have agreed to intensify their collaboration in areas like ecosystem restoration and water resource management in recognition of Pakistan’s initiative to tackle human-induced climate change and China’s initiative to promote green cooperation under the BRI.
Energy investments in BRI member nations must minimise the impacts of climate change by reducing negative effects on the environment while presenting chances for economic growth. Presently, BRI nations rank among the top investors in coal and other fossil fuels, especially China.
Pakistan is the most significant nation receiving Chinese investment under the BRI. Therefore, supporting CPEC’s successful greening would serve as a crucial example for other BRI nations that want to attract Chinese investment in the BRI.
The Green CPEC Alliance would be set up with the intention of assisting, accelerating and promoting this change in Pakistan and the BRI. The members of alliance would include the governments, investors and developers of both nations as well as representatives of civil society.
The alliance seeks to green and decarbonise CPEC by encouraging a shift in Chinese infrastructure spending from projects that produce a lot of emissions to those that produce fewer emissions, such as switching from coal to renewable energy and, ideally, retiring existing coal-fired power plants at an earlier date.
China has overcome its economic and social challenges, following the path of green and low-carbon development and implementing a national strategy to actively address the issue of climate change. It has strengthened its independent contribution goals and accelerated the construction of carbon peaks. China has also adopted a carbon-neutral “1+N” policy system, implemented synergistic governance of pollution reduction and carbon reduction, and actively promoted the use of renewable energy sources.
According to the KTrade securities report, China has allotted 1.2 billion yuan for South-South climate change cooperation since 2011. Nearly 40 nations have benefited from its donations of new energy and energy-saving items and technology.
It has also helped relevant nations to set up low-carbon demonstration zones, launch meteorological satellites, produce solar panels and manufacture electric vehicles.
For 120 developing nations, China has trained around 2,000 officials and technicians in the field of climate change response. The Green Corridor will concentrate on the agricultural environment, food security and green growth. “China’s answers to climate change are more practical for nations like Pakistan,” according to the report available with WealthPK.
