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

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PUBLISHED: 30 Sep 2024 at 19: 46

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

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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

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PUBLISHED: 27 Sep 2024 at 04: 00

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

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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

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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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PTT plots path to greener future

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Thailand aiming for net zero by 2050

Described: 16 Sep 2024 at 04: 30

PTT Plc, Thailand’s national energy firm, has realigned its method to balance business development with conservation, and expand both its own and the nation’s ambitions of achieving carbon independence and net-zero pollution, says its chief executive officer.

Kongkrapan Intarajang, the president and CEO of PTT, lately told the Bangkok Post that the firm is working toward a balance between conservation and business development to maintain Thailand’s national energy security. PTT has set an ambitious goal of reaching carbon net zero by 2050, also ahead of the national target of 2065 agreed upon at COP26 in Glasgow, Scotland.

To generate business development, PTT has divided its operations into two major areas– the oil and energy business, and the non-hydrocarbon business. By integrating carbon capture and storage (CCS) technologies and reducing carbon emissions, the petroleum and energy sector will put its weight on sustainable growth. However, its existing businesses– inland, river, and power–will increase decarbonisation efforts and raise profitability.

On the non-hydrocarbon before, PTT is revisiting areas such as electric automobiles, transportation, and life science to improve their market elegance and proper viability. ” Formerly, investments in this area were scattered. Buyers are looking for more significant benefits, and we need to concentrate on wise investments, doing what we excel at while together advancing conservation, reducing greenhouse chemicals, and growing EBIDA”, Mr Kongkrapan noted.

He acknowledged that the CCS industry has high fees, but sees it as a potential match for international megatrends. On CCS initiatives, the whole PTT party will work together.

As for hydrogen energy, while current demand remains low, the country’s latest Power Development Plan ( PDP ) includes it as 5 % of the total energy mix for electricity generation.

PTT is working closely with the government to create infrastructure to support future gas imports, the CEO said, with gas poised to become a global craze in alternative energy.

Jatuporn Buruspat, the permanent secretary of the Ministry of Natural Resources and Environment and a board member of PTT, emphasized the value of collaboration between the private sector and reducing carbon emissions.

He highlighted PTT’s pivotal role in driving Thailand’s progress toward meeting its carbon reduction commitments. Thailand anticipates a 388 million to be a carbon emission by 2025, an increase from the 269 million to the 269 million to be 2021. The nation has pledged to reach carbon zero by 2065 and to reduce emissions by 40 % by 2030. Notably, PTT Group accounts for nearly one-sixth of the country’s total CO2 emissions, making its decarbonisation and CCS efforts critical, said Mr Jatuporn.

Mr Jatuporn added that while Thailand contributes only 0.8 % of global CO2 emissions, it ranks among the top 10 countries most vulnerable to climate change, given its more than 3, 000 kilometres of coastline. He urged that every effort be made to reduce carbon emissions and suggested additional measures, including the complete phasing out of coal use in Thailand within the next ten years.

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China-Australia looking to heal trade war wounds – Asia Times

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When Treasurer Jim Chalmers travels to Beijing later this month, he and his counterpart at China’s peak economic agency, the National Development and Reform Commission, wo n’t be short on important topics to discuss.

The Gillard government‘s plan to sign the Australia-China Strategic Economic Dialogue, which is a component of a three-pronged deal in place in 2013.

The intention was to hold monthly discussions at the highest level. A Leaders ‘ Dialogue and a Foreign and Strategic Dialogue involving the two nations are also included in the contract.

The next time the official ties started to deteriorate was in September 2017.

After the Morrison state canceled the Victorian state administration’s Memorandum of Understanding to join in China’s” Belt and Road Initiative,” it was then officially suspended by Beijing in May 2021.

Its resurrected slowly, though. Under the Albanese authorities, leaders and foreign ministers have already been invited for mutual visits to stabilize the diplomatic relationship. However, it was n’t until June that the two parties signed a new memorandum to restart the dialogue.

Canberra and Beijing continue to talk, as evidenced by Chalmers ‘ ability to ensure the trip next Sunday. This is despite there being several problems with which they are at odds with.

For Chalmers, the focus will be getting a first-hand study on China’s struggling business and the challenges this provides to Australia’s personal outlook.

When he announced the visit, he made reference to a situation that his organization was tracking that could see the Commonwealth budget profits suffer a$ 4.5 billion loss as a result of lower prices for important commodities exports like iron ore and potassium.

Slowing Chinese expansion and falling item prices are undoubtedly never favorable for American income, but Chalmers is unlikely to make a comeback in a state of panic. According to the most recent business figures, China is still importing Australian iron ore and sodium in unprecedented or near-record quantities.

This suggests that a growing stockpile and a lack of need from other nations are at least as important in explaining recent price declines. And both are recovering from unusual price increases that have now reached levels that are more in line with historical averages.

The effect of Taiwanese growth on its need for American goods and services has also always been a plain, one-to-one relationship. That remains real now.

A complicated relationship

Australian wines export, for instance, are booming after Beijing removed taxes earlier this year.

China’s customs agencies put the value of imported Australian wine over the past three months at US$ 252 million, or around A$ 400 million ( US$ 268 million ). This topped the A$ 357 million sold over the past year to the US, Australia’s second-largest user.

Record numbers of learners from China are enrolling in American universities, though this is possible to decrease next season due to restrictions imposed by Canberra, no Beijing.

The large numbers of companies and officials who are attending the Australia-China Business Council’s Canberra Networking Day on Thursday show how strong China is still as a stand-out business.

Speeches are scheduled for commerce secretary Don Farrell, foreign secretary Penny Wong, dark commerce secretary Kevin Hogan, and dark foreign secretary Simon Birmingham.

Additionally, Chalmers may be concerned about raising the lingering buy ban that Beijing placed in place in 2020 for American lobsters. Trade Minister Don Farrell stated in June that he was “very convinced that the restrictions will be lifted in the near future.” A final solution might be announced during Chalmers ‘ visit.

China’s problems

For China, top of the list of problems will become Australia’s treatment of Foreign investors, especially in areas like essential nutrients. In the past, they have been welcomed but since 2020, there’s been an obvious de facto ban on more presence.

A recent study of Chinese firms in Australia found a general upbeat vibe. Nearly 80 % of respondents expressed optimism about the local business environment’s future. Still, while 72.5 % did not consider they had experienced discriminatory treatment, 42.4 % felt the enforcement of Australia’s laws and regulations lacked transparency.

It’s not hard to discover why. When Chalmers was asked in a question on Sunday to decide whether or not he wanted” China’s investment in crucial nutrients control in Australia,” he did not respond with a “no.” He also did n’t even offer a qualified “yes”

China will likely be looking for assurance that Canberra wo n’t impose tariffs on Chinese imports in a manner that is “like-minded” in comparison to Washington and some other capitals typically seen as “like-minded.”

This reassurance should n’t be difficult for Chalmers to provide. Unlike the US, Australia’s economic partnership with China remains largely comparable. Last season, Australia’s exports to China exceeded exports by A$ 110.7 billion.

And low-cost, high-quality imports from China, quite as electric vehicles, had been welcomed by the government amid a cost-of-living problems and the web no change.

Late last month, Chris Bowen, Australia’s Minister for Climate and Energy, hosted his Foreign equivalent for the 8th Australia-China Ministerial Dialogue on Climate Change in Sydney.

A bipartisan view

Republican support is also present for business with China. In March, Minister Farrell touted the potential for two-way trade to increase from A$ 300 billion to A$ 400 billion.

Not to be outdone, opposition leader Peter Dutton said in June he’d “love to see the trading relationship]with China ] increase two-fold”.

This year, Chalmers was right to claim that Australia’s partnership with China is “full of richness and full of opportunity.” His future trip can only aid in balancing the former and recognizing the latter.

James Laurenceson is director and doctor, Australia-China Relations Institute (ACRI), University of Technology Sydney

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

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Swathes of China, Japan log record summer temperatures

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BEIJING: Swathes of China logged the hottest August on record last month, the weather service said, as Japanese authorities announced that 2024 had been its warmest summer since records began. China is the leading emitter of the greenhouse gas emissions scientists say are driving global climate change. Beijing has pledgedContinue Reading

Q&A: Insights on the 6th International Sustainable Energy Summit (ISES) 2024

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  • This year’s theme will be” Accelerating Energy Transition Through Innovation.”
  • Functions workshops on AI in lasting energy, clean mobility &amp, fresh energy prospects

Q&amp;A: Insights on the 6th International Sustainable Energy Summit (ISES) 2024

The 6th ISES is set to take place from 20-21 August. Hamzah bin Hussin, the CEO of the Sustainable Energy Development Authority ( SEDA ) in Malaysia, is the organising chair of the 6th ISES.

What can you share about the upcoming Sixth International Sustainable Energy Summit ( ISES ) 2024?

The 6th International Sustainable Energy Summit ( ISES ) 2024 is set to take place from August 20-21, 2024, at the Kuala Lumpur Convention Centre. The Ministry of Energy Transition and Water Transformation ( PETRA ) hosts this biennial event, which is coordinated by the Sustainable Energy Development Authority ( SEDA ) of Malaysia. It provides a critical forum for discussions of green energy issues and innovations, with an emphasis on the transition to renewable energy through creative strategies and economical solutions.

What are the main factors or sights of this year’s mountain?

This version of ISES will have several crucial attractions. Through a number of forum sessions and a detailed exhibition, the summit will identify novel ways to transition energy. Participants will also have the opportunity to participate in company matching events, which will encourage cross-sector engagement. On top of that, workshops will cover essential topics, including the use of AI in sustainable energy, green mobility, and new energy prospects like Small Modular Reactors ( SMR ). Finally, attendees can take part in trade shows designed to foster cooperation and view exhibitions that showcase cutting-edge sustainable energy technologies.

These elements aim to give participants important learnings and understandings about the most recent developments in the sustainable energy industry.

Why was the design” Accelerating Energy Transition Through Innovation” chosen for this year’s mountain?

The importance of development in the energy move operation was chosen as the design. This includes both cutting-edge business tactics and cutting-edge economic models, which are necessary for promoting change. The conference will look at novel ways to help this changeover and provide new opportunities for sustainable practices as a result of the worldwide transition toward clean energy.

What impact does SEDA Malaysia think the event will have on the 2030 goal of net zero carbon?

The 6th ISES 2024 represents a crucial opportunity for developing novel options that are in line with Malaysia’s goal of achieving a net zero carbon by 2050, according to SEDA Malaysia. By emphasizing development, the mountain aims to strengthen R&amp, D in clean power technologies. The mountain is anticipated to substantially advance Malaysia’s energy transition plan and the international effort to achieve net zero emissions through marketing and understanding exchange, as well as fostering collaboration between local and international stakeholders.

What significant topics and sessions may be covered at the mountain?

A number of crucial sessions will be presented at the mountain to determine the strength sector’s prospect. I’d like to show three if these:

  • Dialogue with Power Leaders: This program will highlight novel ideas that can advance the mission while providing insight into strategies and initiatives for energy transition.
  • Workshops: Addressing necessary topics such as AI in power, clean freedom, and biology, these workshops did lay a foundation for effective energy development.
  • Full Sessions: Discussions will involve ASEAN’s cross-border energy industry controls and the position of youth in the energy transition, focusing on education and talent development.

In order to finally influence the power sector’s future, both locally and globally, these sessions are intended to encourage and foster a collaborative environment.

What does the 6th ISES 2024 mean general?

The 6th ISES 2024 event is expected to be crucial for the sustainability of the power environment, focusing on collaboration and innovation to advance the goal of achieving optimistic carbon reduction goals. By bringing together business leaders, scientists, and partners, the conference aims to catalyse significant progress in sustainable energy techniques, benefiting both Malaysia and the international community.

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