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(Pro): BRI Renewables Good Scenario

Belt and Road will be green, and that is critical to avoid climate change

Ma Jun, Chairman, Green Finance Committee of China Society for Finance and Banking, July 2, 2019, https://www.weforum.org/agenda/2019/07/belt-and-road-climate-future-change-green/

Climate change is the battle of the century. According to a 2018 Intergovernmental Panel on Climate Change special report, the global temperature rise will likely 1.5°C as early as 2030. We may only have 12 years to act decisively in order to avoid catastrophic impacts on the planet and human beings. The focus of most climate action today is on cutting greenhouse gas (GHG) emissions by current major emitters in advanced and middle-income countries. However, GHG emissions from lower-income, developing countries, which are still comparatively small today, will likely grow strongly in the coming decades as those countries embark on a trajectory of urbanization and industrialization, just as Europe and the UK head towards net zero emissions. According to a joint study by Tsinghua University and Vivid Economics, the 126 Belt and Road countries, excluding China, currently account for about 20% of global GHG emissions, but this ratio may rise to around two-thirds by 2050 if the carbon intensity of these economies only falls slowly (in line with the historical patterns displayed by developed countries).

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