BORDERS: China and India are “burdens” by oil, gas and coal, and need to be diversified and modernized to cope with climate change, the leaders of the world’s two biggest economies have agreed.
China and India’s joint declaration, seen by Reuters, said that “a new global energy and security order” needed to be developed, with “federalism” and a “global order of global competitiveness” at the heart of it.
In the joint declaration on the world stage, leaders from China, India, the United States, Britain, France and Russia said that the countries were “deeply concerned” about climate change and the need to diversify their economies and economies, and called for “a global energy order”.
India has been the biggest emitter of greenhouse gases in the world, with more than 30% of its emissions coming from fossil fuels.
The United States and the European Union have said they will cut carbon emissions to curb warming and fight global warming.
China, India and other Asian nations, which account for nearly 70% of the global population, have also been hit hard by global warming, with the world on track to exceed the 2 degrees Celsius limit set by the United Nations Framework Convention on Climate Change (UNFCCC).
China has been building coal plants, oil refineries and pipelines to cope.
It is the world lead in coal production, with about 90% of all its coal being produced in the two countries.
India, on the other hand, has been investing in coal-fired power plants, while developing gas, wind and solar energy.
The new world order is expected to be unveiled on June 9, the start of the annual BRICS summit.
The declaration called for an end to “corrupt practices” in energy markets and said that countries needed to work to “reduce the costs of globalisation, increase efficiency and reduce greenhouse gas emissions”.
China and the United Kingdom have been pushing for an “energy transition” since the end of the Cold War and have pledged to slash their greenhouse gas (GHG) emissions by 40% from 2005 levels by 2030.
China has made a pledge to cut emissions by 20% from 1990 levels by 2050, while the United Arab Emirates has pledged to cut its emissions by 28%.
The declaration said the new world was expected to “support a greater development of the renewable energy sector, including the development of new technologies and energy storage”.
It also called for a “world order of sustainable development” and said the development and deployment of advanced energy systems such as solar, wind, wave, geothermal and nuclear energy would “strengthen the resilience of economies and societies in the face of climate change”.
A statement on the Chinese Foreign Ministry’s website said that China and its allies “will fight the international community’s attempts to obstruct the development, development and use of new and renewable energy technologies and the sustainable development of global economic growth”.
“The BRICS countries and partners have long been committed to working together to develop and promote sustainable development and the world order of the 21st century, which means the sustainable use of energy, which is linked to a sustainable development, and also to the reduction of greenhouse gas pollution,” the statement said.
India, the largest oil exporter in the BRICS group, said it was committed to “developing the energy transition of our economy” and to the “streting of CO2 emissions and increasing energy efficiency”.
India and the BRIC countries have a large number of neighbours, but many of them are developing nations, and some of them have been hit by the impact of climate-change.
For the first time, India also announced plans to invest $1 trillion in renewable energy, with some of the money going to solar power, wind power, hydro power and solar thermal power.
India’s foreign minister also pledged $2.6 billion for research into wind and hydropower power.