Global Strategic Dialogue 2021:The Webinar for Open Global Economy

Pan Jiahua, an academician of Chinese Academy of Social Sciences:

Climate security for sustainability requires carbon neutrality as agreed in the Paris Agreement. A comprehensive transformation is essential to guide and push the process toward net-zero emissions. Sufficient conditions are required to convert the targets on paper into a reality. First, a clearly set and widely accepted target will drive the market to function as a result of rational expectations. Second, energy revolution from both the supply and demand sides is needed, such as the promotion of zero carbon renewables to replace carbon intensive fossil fuels. Third, it can sustainably reduce total consumption by shifting the development paradigm from industrialization to building a harmonious community.