Opinion | A global green industrialisation initiative can have a ‘win-win-win’ outcome

The world stands at a crossroads, amid an accelerating climate crisis, geopolitical tensions reshaping global trade and the demand from Global South nations to exercise their right to industrialise without repeating the polluting mistakes of the past.

A new consensus is urgently needed that moves beyond zero-sum competition and towards collaborative solutions. The path to decarbonisation creates a trilemma of competing interests that threatens progress for all.

First, Western anxieties must be addressed. Some Western governments still believe in the green transition. However, others fear job losses in traditional industries and a decline in international competitiveness. Western countries need a transition that can secure their industrial base and retain jobs that many depend on.

We propose a “Global Green Industrialisation Initiative” to align China’s unparalleled green manufacturing capacity with the technological and capital strengths of the West and the vast development needs of the Global South.