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Opinion / 欧洲
The Covid-19 pandemic and the wars in Ukraine and Iran have reframed the issue of sustainability, which is now as much about sovereignty and economic security as it is about planetary health. Countries and companies that fail to recognise this have everything to lose in the coming years.
While tensions around the Strait of Hormuz are rattling global oil markets, energy security is no longer defined solely by access to fossil fuels. What China has understood, and Europe has not, is that security now depends on electricity systems that can deliver low-cost power at scale and support heavy industry.
Addressing energy wastage and taming manufacturing overcapacity are among the domestic issues that China must address as it strives to meet its climate goals.
At 2°C warming, US$1.2 trillion a year is needed to protect everyone exposed to climate hazards. That may sound expensive, but the benefits of this adaptation would exceed the cost by roughly seven times.
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