Since 2006, China has been the world's largest carbon emitter and thus the number one responsible for the global climate fight. The Asian powerhouse has now decided to play a key role in the green transition, and its results are indeed a cause for optimism.
In recent years, the so-called energy transition ushered in a new era of geopolitical rivalry. The race to decarbonize economies will open the third dimension of geopolitics, which will be in space. While mining in outer space still seems far-fetched, there is another area on the horizon that seems much more promising: space-based solar energy.
Achieving the objectives of green transition requires substantial investment, but it also enables an industrial and technological advantage over a country’s main competitors, with benefits for long-term growth prospects, Lorenzo Tavazzi, Senior Partner and Responsible for the International Department of The European House - Ambrosetti told us on the sidelines of the Budapest Eurasia Forum.
Singapore was already one of the top eight global financial hubs before the world financial and economic crisis of 2008, and has now overtaken Paris and Tokyo (Global Financial Centres Index 32). Strengthening Singapore’s role as a green finance hub was essential to accomplishing this.
The majority of the world is only familiar with the Belt and Road Initiative (BRI) in the "traditional" sense, with its economic, trade and financial aspects. However, the BRI has become more than that, as the so-called Green Silk Road is being developed alongside the well-known trade pillar of the initiative, with a special focus on renewable energy sources.
China has become the world's largest bilateral creditor over the past decade. The New Silk Road loans are viewed controversially: some see them as an unparalleled breakthrough for developing countries, others fear that they give Beijing too much leverage over its debtors.
Melting glaciers and increased precipitation lead to decline in salinity, which encourages biodiversity and lowers risk of harmful algae blooms. The trend could also help supply more drinking water to the region, researcher says.