Star baby hippo Moo Deng gets Thai COP29 spot

Moo Deng the Thai baby pygmy hippo
Thai child pygmy hippo named Moo Deng

Thailand is putting together a Thailand Pavilion to showcase its climate change initiatives and discussions, with products and activities based on Moo Deng, the baby pygmy hippo, that will be featured at the 29th Conference of the Parties ( COP29 ) in Azerbaijan.

The UN Framework Convention on Climate Change ( UNFCCC), which is scheduled to take place in Baku, Azerbaijan’s capital city, on November 9 through to November 22, will be a part of the minister’s announcement on Sunday, Natural Resources and Environment Minister Chalermchai Sri-on said.

He claimed that the event may help Thailand work with other nations to achieve carbon neutrality by 2050 and net-zero emissions by 2065.

According to him, the government has collaborated with public and private partners to establish the Thailand Pavilion to demonstrate its efforts to combat climate change.

The palace will show four key areas: climate policy, weather technology, climate action, and climate finance, as well as a technology and innovation zone to existing efforts in greenhouse gas reduction and carbon capture.

Mr Chalermchai said a range of side activities was likewise planned, including dialogues and communities to exchange ideas, information, knowledge and experiences on over 30 issues

The Thailand Pavilion will also have activities like a photo kiosk and souvenirs made by Thailand’s Khao Kheow Open Zoo’s prominent baby pygmy hippo, Moo Deng.

From November 11 through November 22, Mr. Chalermchai said, the people can observe changes and regular happenings at the Thailand Pavilion and COP29 part events live on the Department of Climate Change and Environment’s Instagram page.

Meanwhile, the People’s Party ( PP ) said Thailand should use COP29 to emphasise its commitment to achieving net zero emission goals.

Saniwan Buaban, a list-MP, suggested rules for the authorities to explain at the conference on Sunday.

She suggested that the Thai government should declare its commitment to boosting endurance, lowering climate-related risks, and increasing endurance.

She also urged the government to emphasise the need for information, engineering, technology, experience, several funding sources, and its intention to access international funds.

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Ministry to back six new airport projects

Passenger count to double in 20 years

Passengers check in at Suvarnabhumi airport in Samut Prakan province on Monday. (Photo: Varuth Hirunyatheb)
Passengers check in at Suvarnabhumi airport in Samut Prakan province on Monday. (Photo: Varuth Hirunyatheb)

The Transport Ministry is looking to support six airport development and construction projects, preparing the country to be the region’s transportation hub.

Deputy Transport Minister Manaporn Charoensri said on Monday that representatives from the ministry’s Airport Department, the Airport of Thailand, the Aeronautical Radio of Thailand, and other related agencies had recently attended the 59th Directorate General of Civil Aviation (DGCA) Conference in the Philippines.

The conference, held from Oct 14-18 and attended by international aeronautical authorities from 47 countries, discussed the economic development of air transportation, and the number of passengers was estimated to double in the next 20 years.

She said this requires heavy infrastructure investment, especially in the Asia-Pacific region.

According to her, the conference also addressed its “Net Zero Roadmap: Decarbonise Your Airport” project, encouraging zero emissions achievement, and advocated transportation equality.

Following the conference, Ms Manaporn said the ministry is preparing to support the Airport Department’s nationwide infrastructure investment plans.

The plans include enhancing the capacity of the existing airports as well as developing new airports in six provinces, namely Mukdahan, Bueng Kan, Satun, Phayao, Kalasin, and Phatthalung.

Ms Manaporn said the ministry had instructed the Airport Department to prioritise the designs that promote user safety and install enough up-to-date safety equipment for current measures to help with security screening.

It also instructed the department to adopt a universal design that helps with accessibility for disabled users while promoting transportation equality.

She added that the new airport projects are urged to be ecologically and sustainably developed toward zero carbon emissions and the Airport Carbon Accreditation (ACA) Level 5.

Danai Ruangsorn, director of the Airport Department, said the airport projects in Mukdahan, Bueng Kan, and Satun are in the design process and undergoing an Environmental Impact Assessment (EIA), while a budget to conduct an EIA for the Phayao airport next year has already been approved.

The Kalasin airport and Phatthalung projects are in a feasibility study phase.

He added that the airport projects will support transportation equality and encourage the employment of people of various values and cultural backgrounds, under the concepts of sustainability, flexibility, and comprehensiveness.

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Islamic finance players eye Middle East growth | FinanceAsia

The main banks and financing method used by Muslim communities is Islamic finance. The Shariah-compliant section was created in accordance with Islamic law, which forbids specific activities like the collection of interests and investments in dangerous businesses like tobacco and pornography.

Islamic finance accounts for around 3 % of the global financial markets by valued assets, with key activities in Southeast Asian ( SEA ) markets such as Indonesia, Malaysia and Brunei, and the Middle Eastern region. Islamic finance consists of Islamic banking, Sukuk ( fixed income ), Islamic equity funds and Islamic insurance, among other lines of business. &nbsp,

In the Middle East, the Islamic finance market is estimated to be worth$ 2 trillion in 2024 and is expected to reach$ 2.57 trillion by 2029, according to reports. Iran and Saudi Arabia are two of the world’s largest markets by Shariah-compliant assets, with over$ 400 billion in both countries.

According to S&amp, P Global Ratings, the Gulf Cooperation Council ( GCC ) countries had the highest percentage of Islamic banking assets in 2023, making up 70 % of that percentage.

In this part, FinanceAsia spoke to promote players to find out where they see the most options.

Sukuk: an alternative funding cause

Data from S&amp, P Global Ratings suggested that 37 % of the Sukuk securities in 2023 came from manufacturers based in GCC places, revealing a growing Islamic money have from Arab businesses. Saudi Arabia has been the major growth drivers, especially in dollar-denominated Sukuk securities.

Some proceeds from the Sukuk issuances are channelled to activities related to energy transition and sustainability, on top of general business operations, according to Sue Lee, director and Asia Pacific ( Apac ) head of index investment strategy at S&amp, P Dow Jones Indices.

This coincides with a trend across the majority of Arab governments to cut back on oil-related economy. New technologies like natural technology and clean energy are higher on the agenda in the context of the growth travel. For instance, Saudi Arabia wants to use 50 % of alternative energy by 2030 and has a goal of going from zero to zero by 2060.

In order to accomplish these objectives, significant funding is required to support the development of the region’s facilities and engineering, which in turn increased the volume of fixed income bonds issued.

Sukuk, as a Shariah-compliant alternative to conventional ties, provides lenders with a diversified revenue resource by tapping into a unique investment pool, Lee said. For instance, markets in SEA, such as Malaysia, are long-time officials within the Islamic banking area.

In the first quarter of 2024, Sukuk items performed statistically better than its competition on the secondary marketplace.

Lee explained that this is related to a shorter Sukuk lifespan on average, which is typically less than five centuries. Short-term lending has become advantageous for the Muslim fixed income solution in a market with rising interest rates.

However, green Sukuk is growing rapidly from a small foundation, supporting the energy transition of Arab countries.

Equity money: growing buyer demand

Munirah Khairuddin, chief executive officer ( CEO ) Malaysia and managing director, strategic distribution and institutional client relations, Southeast Asia and global Shariah, at Principal Asset Management, said that the teams is seeing growing interest from Middle Eastern investors, especially those based in Saudi.

” As Middle Eastern markets grow and expand, there will be an increased need for Shariah-compliant purchase goods. Traders who are guided by Islamist beliefs will look for opportunities that are in line with their beliefs, she said.

A premium is currently relevant to other asset lessons as well as Shariah-compliant opportunities.

For example, the S&amp, P 500 Shariah, an index which covers all Shariah-compliant constituents of S&amp, P 500, offers a 1-year return at 26.77 %, slightly higher than that of S&amp, P 500 at 26.15 %. Over the past five decades, according to Lieu, Shariah-compliant global capital indices generated on average 2.5 % extra return per year compared to their regular counterparts. &nbsp, &nbsp,

The Shariah-compliant index, filtered with Shariah rules, taking out monetary stocks and high-leveraged sectors such as energy, which in turn leads to an increased conduct of other sectors such as technology stocks. Islamic indices will typically outperform financials in times of outperformance for the information technology ( IT ) sector.

Steven Larson, investment manager, world stocks, at Principal Financial Group, echoed these views, expecting boosting returns generated from IT, logistics, medical and biological sectors.

He claimed that the worldwide Islamic finance sector’s assets are just growing swiftly in a select few key markets.

Larson added:” Additionally, we see an increased appetite for private market materials, however, the market lacks shariah-compliant structures to cater to the rising demand. However, we are seeing more efforts from property managers to create more shariah-compliant strategies in real property, private financing and secret equity”.

On top of that,” Shariah rules share a lot of commonalities with environmental, social and governance ( ESG) principles. And as more buyers look to these rules while investing, results of ESG or Shariah-compliant firms may get affected”, Lee pointed out.

She said that a rise in silent property should be a potential prospect because Islamic cash ‘ percentage of quiet assets under control is much lower than that of regular ones.

Meanwhile, Kuala Lumpur-based Khairuddine pointed out how regional initiatives and partnerships can help standardise practices, enhance liquidity and create larger markets. To make Islamic finance more accessible, improvements are also made to trading platforms, settlement systems, and regulatory frameworks.

Digitising Islamic finance

Islamic finance also faces a problem of limited products, as well as investment appetites. Saif Khan, founder of iFintechpro, a fintech player focussing on Islamic finance, said enhances in technology and digitisation would help.

Middle Easterners are increasingly using digital products, with more and more people opting for them. The landscape is shifting towards a digital-first approach”, he told FA.

These include digital Islamic banking, digital Sukuk issuances, and tokenisation of real-world assets, on which Khan’s team is working on. He claimed that the blockchain technology would lower thresholds and improve risk profiles of investment projects, thereby making Islamic investment more accessible. For example, assets like buildings, solar farms and agricultural projects can be tokenise, enabling retail investors to invest and benefit.

” Technology can reduce the wealth gap by making high-quality investment products available to everyone”, he said. &nbsp, &nbsp,

Khan claimed that some Middle Eastern markets have already established a welcoming regulatory framework despite the fact that the practice is still in its infancy. The Dubai Financial Services Authority ( DFSA ) introduced its rules over investment tokens in Dubai in 2021 as part of its digital asset regime. Qatar and Saudi Arabia have also put in place the same guidance.

According to Islamic law, tokenization of Waqfs, which refers to endowments of property that are given for religious and charitable purposes, could be a useful application.

” This can lead to tremendous social impact by providing transparency, traceability and greater trust”, he explained. ” With smart contracts on chain, updates could be automated and simplified for stakeholders”.

To press ahead, more communication between regulators and different players is needed, Khan added. For example, legal structuring, investor protection, liquidity and market education are some aspects to carefully consider.

¬ Haymarket Media Limited. All rights reserved.

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World must measure ‘what matters’ for green transition: UNDP

Niamh Collier-Smith, Resident Representative of the United Nations Development Programme (UNDP) in Thailand.
Niamh Collier-Smith, Resident Representative of the United Nations Development Programme ( UNDP ) in Thailand.

According to Niamh Collier-Smith, Resident Representative of the United Nations Development Programme ( UNDP ) in Thailand, the world needs to focus on measuring what matters, setting ambitious climate goals, and coordinating private finances to make the green transition.

She was speaking on Monday at the Siam Cement Group community titled “ESG Symposium 2024: Driving Inclusive Green Transition” at the Queen Sirikit National Convention Center.

The website, focusing on the natural transition to net zero carbon pollution through the ESG ( Environmental, Social and Governance ) foundation, is part of the Sustainability Expo 2024.

Ms. Collier-Smith said during her speech that the world should shift from” a society that values what it measures to a society that values what it values.”

She claimed that the world used the gross domestic product only to measure global progress back in the 1990s, and that this was not a reliable way to measure actual international progress.

Since then, the universe has used “life duration” and “years of training” rather to measure progress in the world, she said.

Human Development Index

Eventually, the Human Development Index ( HDI), which can help see correlations between humans and development, came into affect, she said.

However, she pointed out that the UNDP had recognised that” the planet” had been missing from the formula on how to measure development, and therefore, the Planetary Pressures-Adjusted Human Development Index ( PHDI) was implemented to help the world measure development with respect to the environment.

However, the picture of improvement had changed, and according to UNDP, 50 % of nations had dropped out of the” High Human Development Index” because no nation in the world can achieve high growth without straining the earth.

” Therefore, what we should be heading]for ] is low planetary impact, high human development”, she said. ” That is the next frontier of human development”.

” To get there, every state has to change”, she added.

To achieve this objective, every land make have ambitious climate commitments, she said. UN member states have published a report called” The Pact for the Future”, where they agree not to pass on today’s challenges to the next generation, she said.

She said that they must make sure that future generations have the flexibility to make their own decisions.

According to her, United Nations member states you abide by the Nationally Determined Contributions or the Climate Vows on the Paris Agreement in order to do so.

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China is winning the race to net zero – Asia Times

China is winning in the battle for fresh power.

Over the past five years, it has spent ten days more on clean power than either the US or Europe. It dominates the rapidly growing renewables manufacturing market, producing 90 % of all solar panels, over 70 % of all lithium batteries and 65 % of all wind turbines.

That’s a pretty wise move. There is no evidence, according to our new research, that solar and wind cannot maintain their current impressive growth rates. Renewables may be a multi-trillion-dollar worldwide market in the near future.

The eye-watering investments of the US’s Inflation Reduction Act ( IRA ) and the European Green Deal, which will each cost US$ 1 trillion over the next ten years, could close the gap in terms of their clean energy deployment, but they are unlikely to reverse China’s dominance.

China now processes the majority of the materials used in clean energy sources and has a sophisticated manufacturing center that is more suited to increase production in response to the rising demand. China’s Tongwei thermal production plant, for instance, was single-handedly meet 10 % of the 2023 worldwide solar market demand.

And some of the newest Foreign factories are flexible. Another one or two of these factories may be constructed fairly quickly if demand increases, increasing costs and increasing scale.

To know what is driving this amazing growth in China at a city levels, we canvased expert opinions from officials, scientists, economy and natural parties in two leading Chinese places: Beijing and Hong Kong.

As one participant in our study summarized, in both cities the choice of renewables policies is influenced by factors including “alignment with the regional plan, economic costs, simplicity of application, and the accessibility of co-benefits”.

China’s commitment at the 75th UN General Assembly to reach net zero emissions or carbon neutrality by 2060, a position where any carbon pollution are equal to the amount of carbon being emitted from the environment.

This top-level mandate is accelerating cities toward their personal carbon neutrality goals, including Hong Kong’s goal of becoming carbon neutral by 2050.

Solar appear to be popular in China across all levels of government. High-priority techniques at the city level were deemed to be utilizing the worldwide cost reductions of solar energy and accelerating the electrification of transportation.

In contrast, for Beijing and Hong Kong at least, alternatives like capturing carbon from fossil fuel usage and storing it underground were seen as decisions for state officials, and only necessary for the “last 8 % to 10 % of hard-to-abate emissions”.

Huge orange robot arm lifts big new blue solar panel in brightly lit factory
The world’s largest renewable panel producer is China. Photo: IM Imagery / Shutterstock via The Talk

Biofuels are among China’s net zero methods, along with significant investments in alternative clean systems like carbon capture on fossil fuel plants and atomic energy.

The US is building numerous multi-billion money facilities to generate hydrogen from renewable energy and carbon capture, and it has low gas, much of it. Additionally, both the US and Europe have a respectably longer history of nuclear power.

China is investing in these other systems, but no almost with the same vigour as solar.

In addition to our previous research, we discovered that renewable energy and electricity of transportation are becoming increasingly attractive investments for capital decision-makers in China because they are low cost, comparatively low risk, and have the potential to produce consistent emissions reductions at a rapid rate. These characteristics enable them to be potent agents of change.

Runaway decarbonization

Our socio-economic systems have sensitive intervention points ( Sips ) that can stop runaway decarbonization, just as the climate system has tipping points that can cause runaway climate change.

Sips enable a moderate policy intervention to generate transformational change and outsized results via “kicks” ( actions that trigger a positive feedback dynamic, such as learning-by-doing with renewables ) and” shifts” ( fundamentally altering the system to generate dramatic change, such as the UK Climate Change Act ).

Our prior research on Sips demonstrated that renewable energy and electrification of transportation are highly valued as “kick” Sips because they have high learning rates: the cost savings are lower and the demand is higher.

Why some technologies have such high learning rates while others do n’t, according to an illogical magic. These learning rates, once established, turn out to be persistent and quite predictable. We think that modularity, mass production, and mass appeal are all crucial elements in high learning rates.

All of these ingredients are present in solar, wind, and batteries, but particularly solar. You can put a single cell on your wristwatch, build a large solar farm, and everything in between. Their technological progress lies in manufacturing and mass production, after which it is virtually plug-and-play to deploy them.

And most people view solar and wind favorably more than alternatives like nuclear or carbon capture.

Lessons from two cities

What could countries like the UK, that do n’t have China’s manufacturing base, do to stay in this clean energy race? The research group on climate econometrics at the University of Oxford has demonstrated how five policy changes could help the UK return to its climate pledges.

These proposals include triggering both kicks and shifts to promote a sizable expansion of renewable energy, such as utilizing electric vehicles as a network of storage units and establishing more vertical and underground farms in inner cities.

There are currently less than 26 years until net zero by 2050. We think that the most effective green transition policies will make use of” Sips-thinking” to accelerate progress as urbanization quickly increases and more cities reveal their net zero plans.

Matthew Carl Ives is senior researcher in economics, University of Oxford and Natalie Sum Yue Chung is PhD candidate, Center for Policy Research on Energy and the Environment, Princeton University

The Conversation has republished this article under a Creative Commons license. Read the original article.

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Carbon credits ‘key’ to winning climate fight

The country’s carbon trading scheme, according to the Royal Forest Department ( RFD), will be a crucial tool in the fight to protect Thailand’s forests. Additionally, the community that took part in its pilot programme in 2015 has generated over seven million baht in carbon credits so far.

RFD director-general, Surachai Achalaboon, said coal trading plans may be an integral part of environmental protection work because they give nearby communities visible advantages for protecting forests, at an event called Carbon Credit Trade for Sustainable Forest Management yesterday.

He pointed to the success of Ban Khong Ta Bang in Phetchaburi’s Tha Yang district, which joined the Thailand Voluntary Emission Reduction Program (T-Ver ) in 2015.

With help from the RFD, Kasetsart University, the Mae Fah Luang Foundation, and the Ratch Group, an independent authority manufacturer, the society, which is home to 1, 397 ray of forest area, took an active part in protecting the environment, by planting more trees and rehabilitating old-growth forests, he said. According to Mr. Surachai, their efforts over the past seven years have resulted in 5, 259 tonnes of carbon record for the group.

Three private firms, including PTT Exploration and Production, have expressed interest in buying carbon credits from Ban Khong Ta Bang, which is valued at 7.09 million ringgit in full.

The Ban Khong Ta Bang Community Forest Foundation will receive the sales revenues.

According to Mr. Surachai, the market for carbon credit trade is anticipated to expand more as a result of increased industrial sector demand.

” This is a win-win situation. He said locals benefit from strong earnings from their forests while supporting the country’s goal of carbon neutrality by 2050 and net zero emissions by 2065.

According to Mr. Surachai, 276 additional communities are putting in applications, and 121 area forests nationwide have already been registered under the T-Ver program.

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Brookfield raises .4bn for catalytic transition fund, names four new investors | FinanceAsia

Brookfield Asset Management has closed $2.4 billion for its Catalytic Transition Fund (CTF), as it seeks to raise up to $5 billion for deployment towards clean energy and transition assets in emerging markets. These include funds from CDPQ, GIC, Prudential and Temasek.

CTF was previously launched at COP28 with up to $1 billion of catalytic capital provided by Alterra, the world’s largest private investment vehicle for climate finance based in the United Arab Emirates, with the purpose of mobilising investment at scale to finance a new climate economy.

Alterra’s fund commitment has been designed to receive a capped return, thereby improving risk-adjusted returns for other investors in the fund, according to a statement. 

Brookfield has committed to provide 10% of the fund’s target to align itself with investment partners and investors.

The partnership is designed to help drive clean energy investment into emerging markets, where investment needs to increase sixfold over current levels to reach the $1.6 trillion required annually by the early 2030s in line with global net zero targets.

CTF is focused on deploying capital into clean energy and transition assets in emerging markets in South and Central America, South and Southeast Asia, the Middle East, and Eastern Europe.

In Asia, FinanceAsia understands that target markets will include Vietnam, Thailand, Indonesia, Malaysia and the Philippines.

The fund expects to announce its initial investments later in 2024, and a traditional first close – with additional capital from Brookfield’s ongoing fundraising efforts through its extensive network of institutional investors – is expected by early 2025.

H.E Majid Al-Suwaidi, CEO of Alterra, said in a statement: “CTF demonstrates Alterra’s catalytic capital as a powerful multiplier of climate finance to the Global South. This early momentum around CTF shows strong global demand not just for climate strategies, but for opportunities to invest in climate solutions in emerging markets.”

Al-Suwaidi said: “Alterra looks forward to working with CDPQ, GIC, Prudential and Temasek and other partners who share our ambitions to redefine how the world invests in climate solutions and go beyond business-as-usual to deliver positive impact for both people and planet.”

Mark Carney, chair and head of transition investing at Brookfield Asset Management, said: “These anchor commitments from CDPQ, GIC, Prudential and Temasek demonstrate significant momentum for the CTF.”

Carney added: “The support from the world’s most sophisticated investors for the CTF strategy underscores the unique combination of the major commercial opportunity and the climate imperative. We look forward to working with other like-minded investment partners to accelerate the transition in these critical and vastly underserved markets.”

Marc-André Blanchard, executive vice-president and head of CDPQ global and global head of sustainability, said: “Globally, around $6.5 trillion will be needed yearly for the energy transition over the next 15 years. It’s a staggering figure, and various partnerships and investments are necessary to accelerate the path forward.”

Don Guo, chief investment officer, Prudential, said: “We believe there is an opportunity to drive scalable positive change in emerging markets through investing in the climate transition. Prudential’s investment in Brookfield’s CTF underscores our belief that responsible investment is not only an environmental imperative but also a significant opportunity for growth in emerging markets.”


¬ Haymarket Media Limited. All rights reserved.

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Pacific Island security cooperation still crucial for Australia – Asia Times

This article first appeared on Pacific Forum, and it has since been republished with your type agreement. Read the original below.

Australia launched its National Defense Strategy ( NDS ) in April 2024 by&nbsp, stating&nbsp, that the country will remain the “partner of choice” for the Pacific Island countries ( PICs ) when it comes to security cooperation. But why does this standing subject to Australia?

Australia, as a&nbsp, end energy, is a vital regional head in the Pacific. Since the end of World War II, Australia has been in the Pacific place for safety assistance. Australia continues to be one of PIC’s biggest dealing partners and sponsors. Since 2008 Australia has &nbsp, invested&nbsp, nearly A$ 14 billion of its official development assistance in the Pictures.

Being “partner of option” remains a key component of Australia’s NDS for the PICs, for many reasons, and now that competition with China for influence in the Pacific is a continuous reality, this means using Australia’s foreign influence and relationships to advocate for the Pacific’s needs.

First, climate change remains one of Australia’s best foreign policy interests. As a pro-Paris Climate Accord position, Australia has &nbsp, played&nbsp, a major responsibility since 2015 in addressing the climate change matter in the Pacific and worldwide. In reality, Australia’s major &nbsp, global growth initiatives&nbsp, have been driven mainly by its climate policy agenda.

Climate change remains the&nbsp, second largest safety threat&nbsp, in the region and since Anthony Albanese’s Labor authorities took office in June 2022, a more transformative&nbsp, approach&nbsp, has been taken to address the issue. Through its assorted&nbsp, climate investment work, Australia aims to&nbsp, reduce&nbsp, carbon emissions by 43 % in 2030 and reach net zero in 2050.

Australia’s increased engagement in the Pacific in its climate action efforts has led the country to&nbsp, <a href="https://www.argusmedia.com/en/news-and-insights/latest-market-news/2351128-pacific-islands-back-australia-joint-bid-to-host-cop-29″>receive the full support&nbsp, of the Pacific Islands Forum ( PIF ) members of Australia’s bidding to co-host the 31st&nbsp, Conference of the Parties ( COP31 ) in 2026 with PIF.

Second-largest challenge for Australia to be a companion of choice for the Pictures in security cooperation is geostrategic competitors. The geostrategic competitors between the US and China has &nbsp, intensified&nbsp, in the region.

As a key ally of the US Canberra has been involved in a variety of initiatives to counteract the rise of China in the Pacific even though the great power rivalry continues to be a  concern  for the PIF members ( including Australia ).

China has emerged as a global powerhouse and is advancing regionally in the Indo-Pacific. China’s wedding in the Pacific has thus far largely been about economic growth.

Through its Belt and Road Initiative ( BRI), for instance, China has provided infrastructure projects in countries like Papua New Guinea ( PNG ), &nbsp, Solomon Islands&nbsp, and&nbsp, Vanuatu.

However, China’s energy to&nbsp, establish&nbsp, a bilateral security deal with Solomon Islands in 2022 has changed the entire narrative of energy relationships in the Pacific given that Australia and the US have been the PICs ‘” standard safety partners”.

The term “partner of option” in security cooperation falls under the umbrella of a standard protection partner, in which Australia tightly adheres to its foreign policy through dialogue with its Pacific neighbors and ensures that the US maintains its status as the Pacific power.

While Australia, within the course of a season, &nbsp, signed three diplomatic security agreements&nbsp, with Vanuatu, Tuvalu, and Papua New Guinea to maintain its influence in the region in security assistance, China’s growing influence in the Pacific issues and concerns the concept of “partner of selection”.

In her recent interview, Sen. Penny Wong, Australia’s foreign affairs minister&nbsp, stated&nbsp, that:” ]w ] e are now in a position where Australia is a partner of choice, but the opportunity to be the only partner of choice has been lost and we’re in a state of permanent contest in the Pacific]with China ] —that’s the reality”.

Australia, apart from its security engagement with the PICs, also supports a free and open Indo-Pacific through engagement with key partners.

This include AUKUS, the trilateral security partnership&nbsp, established&nbsp, in 2021 with the US and UK in which both countries would build Australia’s nuclear-powered submarine capabilities ( conventionally armed ), including through&nbsp, acquisition&nbsp, of five Virginia-class nuclear-powered submarines from the US over the next three decades for$ 368 billion.

The AUKUS partnership also entails technology and information sharing among the three countries as well as&nbsp, deployment&nbsp, of US and UK submarines as early as 2027 to have rotational presence in Western Australia at HMAS Sterling through Submarine Rotational Force-West, a strategic move not just to help Australia build its nuclear-powered submarine fleet but also&nbsp, counter&nbsp, China’s growing influence in the Indo-Pacific.

As one of the members of the&nbsp, Quadrilateral Security Dialogue&nbsp, (” Quad” ) with the US, Japan and India, Australia’s status as a founding member of PIF ensures that humanitarian assistance, the key reason why the Quad was &nbsp, established&nbsp, in 2004, is delivered to PICs, who remain vulnerable to non-traditional security threats like climate change.

Australia, along with New Zealand, Japan and South Korea also maintains the presence of NATO through&nbsp, Partners in the Indo-Pacific&nbsp, ( IP4 ).

Although NATO was &nbsp, established&nbsp, to counter Soviet threats during the Cold War in Europe after World War II, its partnership with IP4 exists to&nbsp, maintain&nbsp, the international rules-based order in the Indo-Pacific.

There is this&nbsp, notion&nbsp, that” countries in both Europe and the Indo-Pacific count on the US to guarantee their security —a guarantee]that ] they have not had…to question for three-quarters of a century”.

However, China in the Indo-Pacific is already battling that security guarantee from the US. The US and its NATO partners see China’s emerging superpower status and its&nbsp, provocative actions&nbsp, in the South China Sea, particularly with the Philippines, as a threat to the liberal order.

Second, Australia sees the Pacific as a crucially important region for both its national security interests and the security interests of its allies as a US ally and as a NATO partner.

This implies that Australia seeks to prevent China from imposing coercion or attempts to establish bilateral security arrangements with PICs and to ensure that PICs remain under its control in security cooperation.

For instance, the former prime minister of Solomon Islands, Manasseh Sogavare was &nbsp, described&nbsp, as the polarizing, pro-China figure in the Pacific when he&nbsp, signed&nbsp, the security deal with China and PNG was &nbsp, urged&nbsp, early this year by Washington and Canberra to reject China’s bilateral security offer.

When responding to China’s bilateral security offer to PNG, Australia’s Prime Minister Albanese&nbsp, stated:” ]W] e are a security partner of choice for]PNG], as we are for most of the countries in the Pacific”.

PNG did not take up China’s bilateral security offer, intended to help improve PNG’s internal policing, as PNG already has a similar&nbsp, bilateral security arrangement&nbsp, with Australia.

Geoeconomic competition is the most important factor in Australia’s choice for partner of choice in security cooperation for PICs. Both the US and China are &nbsp, key trading partners&nbsp, of Australia, and the Pacific region is critical to their economic development as it houses the&nbsp, trans-Pacific route, the world’s largest shipping lanes linking Asia and North America.

In 2023 alone, approximately 30 million 20-foot equivalent units ( TEU) of cargoes were transported across the trans-Pacific route.

Secondly, while China has done significant investment in infrastructure development through the&nbsp, BRI in the Pacific, Australia through its Pacific Step-up&nbsp, introduced&nbsp, the$ 2 billion Australian Infrastructure Financing Facility for the Pacific to increase its engagement in the region, as the BRI was &nbsp, accused&nbsp, of a “debt-trap” diplomacy.

Australia’s membership in the Partners in the Blue Pacific helps&nbsp, support Pacific priorities&nbsp, envisaged in the&nbsp, 2050 Strategy for the Blue Pacific Continent, as PICs are not included in the US-led&nbsp, Indo-Pacific Economic Framework&nbsp, for Prosperity except Fiji.

PICs are aware of Australia’s traditionally dominant position as a key regional influencer in security cooperation. While China’s interests, apart from economic development, are also to&nbsp, constrain&nbsp, Taiwan’s diplomatic presence in the Pacific, PICs perceive all parties involved, including big powers as its key development partners without any geopolitical interest in security and economic cooperation.

Australia will need to work more closely with the PICs as a traditional leader to maintain its position as the partner of choice in security cooperation while maintaining the sovereignties of each individual PIC.

For instance, the Pacific Policing Initiative ( PPI), just&nbsp, endorsed&nbsp, by PIF leaders in their 53rd&nbsp, meeting in Tonga late last month would be a good start for Australia’s investment in its effort for regional leadership in security cooperation as the PPI will be entirely funded by Australia in the next five years.

Moses Sakai ( sakaimoses@outlook .com ) is a Research Fellow at the Papua New Guinea National Research Institute and a Young Leader of the Pacific Forum. He taught at the University of Papua New Guinea from 2018 to 2023.

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