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‘Australia/China collaboration can help address climate change,’ says BigLaw firm
King & Wood Mallesons (KWM) and Australia China Business Council (ACBC) have released an inaugural report to spearhead collaboration between Australia and China to address climate change.
Jess Feyder
The report, titled The Climate Challenge: Opportunities for collaboration between Australia and China, explores how businesses and academics in Australia and China are collaborating on feasible and effective solutions to reduce emissions.
It noted that partnerships and collaborations between governments, industry, the private sector, universities, multilateral institutions, and civil society are essential to ensure nations meet their Paris Agreement targets and other international commitments.
The report highlights that Australia and China have a track record of innovative collaboration across multiple sectors and industries, providing a solid base from which to work together.
“China and Australia are confronted by similar challenges, and we have an opportunity to use the deep complementarity of our economies to drive net-zero outcomes,” explained David Olsson, national president of ACBC.
The report offers tangible examples and insights across the energy, mining, industrial, property, transport, finance, and agricultural sectors.
The key themes emerging in the report include:
- Powering the transition;
- New renewable energy generation and innovative technology;
- A refocus on new future-facing mineral resources and infrastructure;
- Clean fuels and efficient refuelling systems;
- Regeneration of existing cities and creation of “green” cities;
- Sourcing of capital for “green” finance projects;
- Carbon markets and emerging cross-border links;
- Investment in innovation; and
- Scale and growth of new eco-agriculture innovations and practices.
“We want to highlight those efforts and the opportunities for collaboration that are created, to inspire and support the ongoing transition. We are delighted to launch this report together with ACBC. Our intention is to stimulate meaningful conversations,” she said.
“Fundamental to this report is to shine a light on examples of where Australian and Chinese businesses have come together in this new era of decarbonisation to create opportunities that we hope will provide inspiration and stimulate conversations and lead to new and ambitious engagement between businesses and industry sectors.”
KWM China partner Kathy Fan said that among the most critical areas of change is the energy sector.
“The size of China’s renewable energy market is increasing remarkably,” she added.
By leveraging strong economic and trade complementarities, Australian and Chinese businesses are well positioned to unlock new opportunities and deliver a greener future, stated the report.
