The World Economic Forum (WEF) is calling for “speeding up the green energy transition,” even though the body is sponsored by a Chinese coal giant.
WEF Managing Director Jeremy Jurgens called for “speeding up the green energy transition” and “urgent action” on climate change in an article published by Fortune Magazine. He warns of climate calamities to come if the world does not accelerate its efforts to reduce emissions and change course.
Jurgens believes technological development will continue to advance renewables such as solar, wind, biomass, and hydrogen. He believes a “paradigm shift” is needed for businesses to continue investing in the technology needed to scale advanced renewables.
Despite Jurgens’ calls, however, China Energy Investment (CEIC), a state owned power giant, is listed as a sponsor on the WEF’s website for its 2023 annual summit. The firm is China’s top coal miner and operates in other power sectors such as wind and geothermal, according to Bloomberg. (RELATED: US Will ‘Soon’ Have ‘Illegal Hate Speech’ Laws, World Economic Forum Panelist Tells Brian Stelter)
If you want to focus on climate change, we could turn our attention to China Energy Investment, which is the driving force behind China’s expanding use of coal.
— Jim Geraghty (@jimgeraghty) January 17, 2023
CEIC’s coal production reached 480 million tons by 2017, according to its WEF page, and it recently began importing Australian coal to meet growing power demand, Reuters reported. CEIC has 24 coal mines with at least 10 million tons in annual capacity, including the world’s first 200-million coal mine cluster, its website says.
Climate is the subject of numerous WEF panels taking place at its annual summit. Topics include climate oriented philanthropic ventures, litigation, healthcare, mobilization, adaptation, migration, finance and trade, according to the WEF program.
Environmental activists at Greenpeace have called out the WEF for its climate hypocrisy because of the private jets used by global elites to fly into Davos, Switzerland for the forum. Their analysis shows 1,040 private jets flew out of Davos in 2022, generating carbon emissions equivalent to 350,000 average cars over the course of a week.
World Economic Forum Founder and Chairman Klaus Schwab praised China as “a model for many nations” in an interview with Chinese state TV on Nov.19. He touted China’s “tremendous” economic advancement and believes China’s model is “very attractive” to “quite a number of countries.”