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Opinion / #electrification
Now is the time to double down on renewable energy and electrification.
Given that China is the world’s largest emitter and has a high carbon intensity, some assume that its trade war with the United States, which has shifted production to third countries, would have environmental benefits. In fact, the conflict has increased carbon dioxide emissions in developing and advanced economies alike.
The European Union faces a strategic choice in deciding how to deal with China’s green-tech dominance. Instead of implementing defensive industrial policy, it should try to find common cause with China on clean trade and investment, using its strengths in rulemaking and norm-setting to promote both sides’ economic interests.
The Asia-Pacific is at the forefront of green industrial policies and must accelerate the transition through multilateral efforts to serve as a model for a greener future.
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