2022 Global Net Zero Industry Summit: New Green Industry, New Development Power

A recording of these remarks can be found on YouTube and Tencent Video

H.E. Ms. Wang Lixia, Chairwoman of Inner Mongolia Autonomous Region,

H.E. Mr. Li Li, Party Secretary of Ordos Municipal Committee,

H.E. Mr. Adair Turner, Chair of the Energy Transitions Commission,

H.E. Mr. Laurent Bili, Ambassador of the French Republic to China,

Excellencies,

Distinguished guests,

I thank Mr. Zhang Lei, CEO of Envision Group, for the invitation to speak at the inaugural Global Net Zero Industry Summit. I apologize I am unable to join this very important meeting in person, which I was very looking forward to.

This Summit occurs at a critical time. We are already perilously close to hitting the 1.5-degree limit that science tells us is the maximum level of warming to avoid the worst impacts of climate change. Half of humanity is now in the danger zone from floods, droughts, extreme storms and wildfires. According to the World Meteorological Organization, four key climate change indicators – greenhouse gas concentrations, sea level rise, ocean heat and ocean acidification – set new records in 2021. This is yet another clear sign that human activities are causing planetary-scale changes on land, in the ocean, and in the atmosphere, with harmful and long-lasting ramifications for sustainable development and ecosystems.

The key to tackling this crisis is to end our reliance on energy generated from fossil fuels - the leading cause of climate change. Renewable energy is the answer. The United Nations Secretary-General Mr. António Guterres has said, “The only true path to energy security, stable power prices, prosperity, and a livable planet lies in abandoning polluting fossil fuels and accelerating the renewables-based energy transition.”

Here, we welcome China’s ambition, along with the existing and new commitments made by President Xi Jinping at the 76th UN General Assembly, who said, “China will strive to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060…and will not build new coal-fired power projects abroad.” China has played a constructive role in deploying and investing in renewable energy. The country is leading in renewable energy production figures as the world’s largest wind and solar power producer and the largest domestic and outbound investor in renewable energy.

While much has been achieved, much remains to be done. China’s economic growth is still heavily reliant on fossil fuels. In 2021, coal still accounted for 56 per cent of total energy consumption in China. More details are needed on how to reallocate financing resources to stimulate the low carbon transition. To this end, the UN in China is working closely with key stakeholders to provide best possible knowledge and technical support to support China’s climate commitments. This is in the spirit of partnership forged through the United Nations Sustainable Development Cooperation Framework 2021-2025.

We actively engage with central and local players to ensure a just energy transition that leaves no one behind. The United Nations Development Programme (UNDP) has been providing technical expertise and programmatic interventions in sectors with high carbon footprints. This also includes policy advisories to assess and mitigate the impact of decarbonization on employment and local economies in provinces highly dependent on coal production. In addition to supporting the municipal governments to localize the Sustainable Development Goals, SDG Labs in Chengdu and Suzhou are accelerating the transition by developing innovative solutions for sustainable low carbon development.

We are leveraging the potential of the business community and the private sector to unleash the resources needed for climate- and nature-positive solutions. UNDP has developed an SDG Investor Map to help private investors identify investment opportunities and business models that align with the SDGs, including in the areas of green energy and the circular economy. UN Global Compact is the flagship UN agency for responsible businesses. Its Science-Based Targets Initiative Corporate Net-Zero Standard is a world-first framework for corporate net-zero target setting in line with climate science. It provides the guidance, criteria, and recommendations companies need to set targets consistent with limiting global temperature rise to 1.5 degrees. This year, UN Global Compact will kick-start its Climate Action Accelerator programme in China to help Chinese companies access global best practices, peer-to-peer learning opportunities, capacity-building sessions and on-demand training.

A notable example of the public-private partnerships needed for the green transition is seen in the Ordos Net Zero Industrial Park, co-initiated by the Ordos Municipal government and the Envision Group, a member of the UN Global Compact. When innovation, technology, private capital and social responsibility are met with strong political will and favourable policy environments, I see enormous potential for a new green industrial revolution in the making.

Ladies and gentlemen,

Time is no longer on our side. We must take urgent action now to transform our relationship with nature and chart a new path. The United Nations Secretary-General Mr. António Guterres has put forward a five-point plan to jump-start the renewable energy revolution, including treating renewable technologies as a freely available global public good, expanding and diversifying renewable energy supply chains, shifting subsidies away from fossil fuels to protect the most vulnerable people and communities, reforming bureaucracies to fast-track approval processes, and tripling public and private investments in renewables to at least US $4 trillion dollars a year.

The United Nations in China looks forward to working with all stakeholders in this renewable revolution. We stand ready to convene, connect and catalyze partnerships for a green, sustainable, climate-resilient and prosperous future.

I wish you productive discussions. Thank you.