Rae Kwon Chung, a recipient of the IPCC Nobel Peace Prize 2007 and Board Member of the Ban Ki-moon Foundation, has inaugurated a Climate Innovation Center at Tashkent State University of Economics (TSUE). Chung, known for his work in climate advocacy, revealed his plans at the Tashkent International Investment Forum to Daryo, emphasizing the potential for Uzbekistan to achieve a balance between economic prosperity and climate action through innovative projects and smart technologies.
The establishment of the Center for New Climate Innovations at TSUE marks a milestone in Uzbekistan's journey towards sustainability. Chung articulated his vision for the center, highlighting the imperative to debunk the misconception that addressing climate change and fostering economic growth are mutually exclusive endeavors. He stressed the possibility of creating a symbiotic relationship between climate action and economic development, paving the way for win-win solutions.
Chung's initiatives include the promotion of the Green Cotton Project, aimed at revolutionizing Uzbekistan's cotton industry. Recognizing the ecological challenges posed by conventional cotton farming, particularly water waste, Chung proposed the adoption of smart farm technology, such as hydroponics, to mitigate water usage by up to 90%. By coupling these innovations with renewable energy sources, he envisions the production of carbon-free, organic cotton—a pioneering concept in the global textile industry.
“So for the first time in the whole world, nobody produced green cotton. But the reason why they didn't do it is because the price of cotton is very low and cheap. So nobody even thinks about using smartphone technology because it's too cheap. But my idea is that there are buyers and the consumers who are looking for high sustainability quality, like carbon-free, water saving,” Chung shared.
Addressing the skepticism surrounding the feasibility of producing green cotton due to market constraints, Chung underscored the untapped potential within the luxury goods sector. He highlighted the growing demand for sustainable products among discerning consumers and posited that high-end brands could drive the transformation of Uzbekistan's cotton industry into a lucrative, high-value enterprise.
When questioned about his decision to establish the Climate Innovation Center in Uzbekistan, Chung credited the invitation extended by Minister Sharipov, former rector of TSUE, as a catalyst for his engagement with the country. Since its inception in January last year, the center has been instrumental in fostering a culture of sustainability and green entrepreneurship among students and stakeholders.
In discussing Uzbekistan's transition to a green economy, Chung emphasized the pivotal role of consumers in driving sustainable practices. He underscored the need for a shift in mindset, wherein consumers prioritize sustainability and are willing to pay a premium for eco-friendly products. Chung advocated for price differentiation to incentivize businesses to invest in green technologies, thereby catalyzing the transition towards a greener, more resilient economy.
“Everybody's competing for the cheapest price. Under those circumstances, we cannot get a green economy, but we have to take a long-term horizon for sustainability. But in order to make this happen, we have to have not only government support, or the financial sector, or the businesses,” Chung voiced.
Reflecting on the prospects for renewable energy in Uzbekistan, Chung acknowledged the nation's vast potential for wind and solar energy but identified barriers hindering its implementation. He emphasized the necessity of government investment in grid infrastructure and highlighted the importance of consumer demand and willingness to pay for green energy.
In conclusion, Chung expressed optimism regarding Uzbekistan's commitment to reform and economic openness, as articulated by the country's leadership. He lauded the government's proactive stance towards attracting foreign investment and predicted a promising trajectory towards sustainable development and prosperity.
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