COP29 Highlights Ethical, Financial Issues in Green Transition

The debate on green energy and its impact continues, with critiques focusing on the ethical and environmental costs of current technologies such as electric vehicles, solar panels, and wind turbines. Children in the Democratic Republic of the Congo face exploitation in cobalt mines, essential for battery production, highlighting the darker side of the green transition. Ethical consumption and environmental justice emphasize consumer influence in addressing these inequities by opting for sustainably produced goods. China's energy transition is marked by a notable increase in renewable energy capacity despite a temporary rise in coal power projects, questioning its commitment to reducing carbon emissions. At a global level, climate finance remains a critical issue, with developed countries pledging increased support for developing nations at the COP29 summit. Locally, initiatives like Pakistan's 'Banking on Renewables' event underscore the importance of financial institutions in supporting renewable energy transitions.