On November 22 2023 China Global Advisory hosted the Uruguay-China Investment Forum on Green Economy attended by President Luis Lacalle Pou of Uruguay and four Ministers (Foreign Affairs, Finance, Energy and Agriculture), Ambassador of Uruguay to China, Chinese Ambassador to Uruguay and also the President of CCCME
● Speech by President Zhang Yujing of China Chamber of Commerce for Import & Export of Machinery & Electronics (CCCME)
Global Warming: Immediate Actions Needed!
Earth is likely to cross a critical threshold for global warming within the next decade, and nations will need to make an immediate and drastic shift away from fossil fuels to prevent the planet from overheating dangerously beyond that level, according to a major new report released on Monday, March 20, 2023.
The report, by the Intergovernmental Panel on Climate Change, a body of experts convened by the United Nations, offers the most comprehensive understanding to date of ways in which the planet is changing. It says that global average temperatures are estimated to rise 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels sometime around "the first half of the 2030s," as humans continue to burn coal, oil and natural gas.
That number holds a special significance in global climate politics: Under the 2015 Paris Climate Agreement, virtually every nation agreed to "pursue efforts" to hold global warming to 1.5 degrees Celsius. Beyond that point, scientists say, the impacts of catastrophic heat waves, flooding, drought, crop failures and species extinction become significantly harder for humanity to handle. But Earth has already warmed an average of 1.1 degrees Celsius since the industrial age, and, with global fossil-fuel emissions setting records last year, that goal is quickly slipping out of reach.
NEW YORK (AP) — Communities around the world emitted more carbon dioxide in 2022 than in any other year on records dating to 1900, a result of air travel rebounding from the pandemic and more cities turning to coal as a low-cost source of power.
Emissions of the climate-warming gas that were caused by energy production grew 0.9% to reach 36.8 gigatons in 2022, the International Energy Agency reported. (The mass of one gigaton is equivalent to about 10,000 fully loaded aircraft carriers, according to NASA.) Carbon dioxide is released when fossil fuels such as oil, coal or natural gas are burned to powers cars, planes, homes and factories. When the gas enters the atmosphere, it traps heat and contributes to the warming of the climate. Extreme weather events intensified last year’s carbon dioxide emissions: Droughts reduced the amount of water available for hydropower, which increased the need to burn fossil fuels. And heat waves drove up demand for electricity. The report was described as disconcerting by climate scientists, who warn that energy users around the world must cut emissions dramatically to slow the dire consequences of global warming.
“Any emissions growth — even 1% — is a failure,” said Rob Jackson, a professor of earth system science at Stanford University and chairman of the Global Carbon Project, an international group. “We can’t afford growth. We can’t afford stasis. It’s cuts or chaos for the planet. Any year with higher coal emissions is a bad year for our health and for the Earth.”
Carbon dioxide emissions from coal grew 1.6% last year. Many communities, primarily in Asia, switched from natural gas to coal to avoid high natural gas prices that were worsened by Russia’s invasion of Ukraine, the IEA said. Though emissions continue to grow at worrisome levels, a reversal that would help achieve the climate goals that nations have committed to remains possible, said John Sterman, director of the Massachusetts Institute of Technology Sloan Sustainability Initiative. Nations must subsidize renewables, improve energy efficiency, electrify industry and transportation, set a high price for carbon emissions, reduce deforestation, plant trees and rid the system of coal, Sterman argued. “This is a massive, massive undertaking to do all these things, but that’ s what’s needed,” he said.
Six Key Industries our World need to Invest to Reduce Carbon Emissions
In addition to energy conservation, the world needs to invest in Green Economy. Our world needs to create Public Private Partnerships to invest in these key industries in Green Economy:
1. Agriculture
According to the recently launched UNEP Green Economy Report, investing just two percent of the global economy into a few key sectors will kick-start a transition towards a low-carbon, resource-efficient economy. In the area of agriculture, the report echoes the call of the International Assessment of Agricultural Knowledge, Science and Technology for Development (IAASTD), for a shift from industrial, high-input and resource-intensive agriculture to sophisticated, biodiversity-based agro-ecological practices. Reducing waste and inefficiency is an important part of the “green agriculture” paradigm. Crop losses to pests and hazards, and losses in storage, distribution, marketing and at household level together account for nearly 50 per cent of the human edible calories that are produced. Currently, total production is around 4,600 Kcal/person/day but what is available for human consumption is around 2,000 Kcal/person/day.
FAO suggests that a 50 percent reduction of losses and wastage in the production and consumption chain is a necessary and achievable goal. Addressing some of these inefficiencies – especially crop and storage losses – offers opportunities requiring small investments in simple farm and storage technology on small farms where it makes the most material difference to poor farmers. The FAO reports that although reducing post-harvest losses could be relatively quickly achieved, less than five percent of worldwide agricultural research and extension funding currently targets this problem.
Greening agriculture requires investment, research and capacity building in the following key areas: soil fertility management, more efficient and sustainable water use, crop and livestock diversification, biological plant and animal health management, an appropriate level of mechanization and building upstream and downstream supply chains for businesses and trade. Capacity building efforts include expanding green agricultural extension services and facilitating improved market access for smallholder farmers and cooperatives.
2. Manufacturing
The manufacturing industry has provided more opportunities than other industries, and the number of credits, usage regulations, acquisition of new technology, and so on—renewal ground—promote both tangible and intangible technological change. In 2012, the Global Manufacturing Industry Growth (MVA) reached 89,000 million dollars, a new record high (accounting for 16.7% of global GDP). After all, this is the core of structural transformation. (Industrial Engineering, 2013). However, due to this type of industrial structure change, the manufacturing industry is affected by air pollution, harmful substances and the environmental impact is substantial. With Green manufacturing in progress, the material efficiency is improved, with a reduction in production process and the number of natural resources required. This imporved product life cycle has major impact for small and medium-sized enterprise. With the high resource efficiency, it is possible to maintain the competitive advantage.
3. Renewable Energy
Renewable energy is energy derived from natural sources that are replenished at a higher rate than they are consumed. Sunlight and wind, for example, are such sources that are constantly being replenished. Renewable energy sources are plentiful and all around us. Generating renewable energy creates far lower emissions than burning fossil fuels. Transitioning from fossil fuels, which currently account for the lion’s share of emissions, to renewable energy is key to addressing the climate crisis. Renewables are now cheaper in most countries and generate three times more jobs than fossil fuels. Workers can generate electricity, heat or fuel from renewable sources for use within their institutions. These sources may include wind, biomass, geothermal, solar, ocean, hydropower, landfill gas and municipal solid waste.
Sources of renewable energy includes but not limited to:
· Solar Energy
· Wind Energy
· Geothermal Energy
· Hydropower
· Ocean Energy
· Bioenergy
4. Fisheries
Green fishery economy is a modern fishery economic development model with ecological rationality, economic efficiency, and functional virtuous cycle established by means of resource recycling, regeneration, energy saving, consumption reduction, and low carbon. On the premise of ensuring the steady growth of fishery economy, green fishery has established a harmonious relationship between fishery aquaculture and environmental protection. The green fishery economy is a modern fishery economy with ecological rationality, economic efficiency and a virtuous circle of functions established under the guidance of the scientific concept of development and utilizing the recycling, regeneration, energy saving, consumption reduction, and low carbon of resources. It is a sustainable development with multi-level, multi-structure and multi-functional pursuit of maximizing ecological and economic benefits.
5. Forests
Forestry is the foundation and key to the development of a green economy. Its value is not only reflected in short-term, private limited benefits, but also has macroscopic long-term value in economic, social, and ecological benefits. To develop a "green economy" is to realize a new economic development model that can "greatly reduce environmental hazards and ecological scarcity" while "improving human welfare and social equity".Forestry is recyclable and low-carbon, and is the largest recycling industry and a low-carbon industry with great potential. Forestry is the vanguard of green development, and the forestry sector plays a leading role. Through green investment, in the process of green modernization, the basic production function will first start a green transformation, and the investment of natural factors will jump to the investment of green factors, so as to realize the physical capital. For example, investing in preserving and building up forests to capture carbon through photosynthesis will convert investment capital into green capital with major returns.
6. Tourism
The definition of green tourism can be divided into broad and narrow senses. In a broad sense, green tourism refers to various tourism products and services that are close to the environment or environmental protection. In a narrow sense, green tourism refers to a kind of fashionable tourism that is far away from noise and pollution and close to nature on the premise of protecting the environment and ecological balance and can obtain healthy spiritual taste. It usually refers to rural tourism, that is, in rural areas, mountainous areas and fishing villages activity.
As a new form of tourism, green tourism has multiple functions such as sightseeing, vacation, recuperation, scientific investigation, exploration and popular science education. For tourists, it is not only a hedonic experience, but also a learning experience, not simply using the natural environment, but relying on the parallel relationship between nature and tourism, on the basis of a sense of reverence for nature and awareness of environmental protection. It increases the opportunities for tourists to get close to nature and deepen people's understanding of life.
Our Role at China Global Advisory
· Partner with countries to establish new Carbon Credit Programs by setting up new forest programs to create carbon credit, redirect revenue generated to protect and support the health and preservation of the forest. CGA will bring investment and manage such programs reduce country barriers from initiating such programs.
· Match Buyers to Specific Carbon Credit programs to increase the efficiency of the buying/selling process.
· Serve as a Global Clearing House for Green Economy Projects between the Receiving parties and the Implementation parties. For example, if a country has specific set of green economy projects and would like overseas companies to invest and execute the project with the latest technologies, we will help to match make both parties and facilitate the contractual agreement to execute these projects.
We also believe that increasing the efficiency of matching Green Projects with Implementation Parties is NOT enough, Finance needs to be at the heart of the solution to our global challenges from Global Warming. China Global Advisory will bring third party financing to the green projects through our access to:
· Private equity funds,
· Sovereign funds
· Working closely with the Luxemburg’s International Sustainable Finance Platform through:
o Microfinance
o Green Bonds
o Development Finance Bonds
In addition, China Global Advisory will work in partnership with:
· The Luxemburg Green Exchange
· Luxemburg-EIB Climate Finance Platform
· Luxemburg Green Finance Platform
· UN Financial Centers for Sustainability
Currently it is estimated that less than 2% of the world’s financial assets are invested in sustainable projects. The drive for many leading investment portfolios to be socially responsible is creating a huge demand for Green Projects.
More and more researches show that sustainable investments can outperform compared to traditional indices such as traditional operational performances or return over the long term. Sustainable investment funds have also demonstrated greater resilience than conventional investment funds. Research from Morningstar in 2020 shows that 70% of sustainable funds survived the past ten years, and remained available to investors, while only 45% of traditional funds stood the test of time for the same period.
So the Need is here, the Responsibility is ours, and the Timing is now to promote quality Green Projects that are so dearly needed for Humanity!!! We must make care for Our Next Generation!!
China Global Advisory’s Global Clearing Platform for Green Economy brings together three Pillars of Excellence:
· Green Projects from countries around the world
· Implementation Companies qualified to build these Green Projects
· Green Funding to finance the projects
We are very pleased to work closely with Ambassador Marc Hubsch of Luxembourg and the Luxembourg Green Exchange (LGX) and the Luxembourg International Platform for Sustainable Finance.
Letter from Ambassador Marc Hubsch regarding partnership with CGA
Video from Ambassador Marc Hubsch regarding partnership with CGA
On April 25 2023 China Global Advisory launched the Global Clearing Platform for Green Economy:
Photo from the April 25 2023 Launch
Speech by Mr.Lam Chairman of China Global Advisory
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