By Iram Akhter (BSc Business Economics)
Summary
Last December, through my involvement in the module International Trade & Integration, I participated in an important international collaboration opportunity (also known as COIL) which brought students together from Germany, Japan, Romania, Taiwan and the UK. Running from 7th December 2021 to 27th January 2022 and led by Tohoku University in Japan, it focused on raising awareness around climate change. It allowed us to develop understanding of both how international trade contributes to the crisis and what economies can do to mitigate and reverse its advent and impact. Providing a means to network, it allowed investigation of environmental matters with young minds who undoubtedly will lead on future policy change. This blog provides a summary of the importance of this opportunity.
The Structure
8am UK time and, with enthusiasm building across participants, the first Zoom call commences. Following ice-breaking introductions from everyone in the room, there is an interactive presentation led by Tohoku university’s professors. The aims of the event are highlighted. Students are to collaborate, learn from one another and finally present short presentations on specific climate issues of their choosing. Breaking-out into groups, there are weekly meetings. Environmental issues in our respective countries are to be discussed. How have innovative solutions been used to mitigate climate problems? How can we learn from each other to ensure more effective global action?
My group focuses on damage to the ocean – which produces 50-80% of our oxygen, acts as a GHG-generated heat and carbon sink, and regulates global weather. Such damage arises from industrial and plastic pollution, as well as from farm toxic runoff. We find that the problem, if left unaddressed, would cost humanity $428 billion per annum by 2050 (Ocean Panel, 2020). Costs are unevenly spread, with chronic stress on coastal areas and livelihood costs for regions affected by particular extreme weather conditions. Highlighting the severity of the problems already generated, we find that low-oxygen zones in the ocean on aggregate are as large as Europe. There is an island of plastic waste in the Pacific that is three times as large as France (Ocean Panel, 2020). Despite the dire nature of these problems, we also learn of admirable restorative projects. They include regenerative ocean farming, sustainable cargo ship fuel like green ammonia, offshore wind and establishment of Marine Protected Areas. These, if undertaken on a large scale, have great potential to effectively abate the ocean damage problem.
Fast forward to 27th January, we’re in our final session. Integrating lessons learnt from all groups, as well as faculty from partnering universities, we derive further understanding of the multiple issues bundled within the two words: ‘climate crisis’. Examples include: The deforestation problem in Romania and current restorative efforts; Japan’s imposition of a charge on plastic bags in all commercial establishments; global warming effects in Germany and an ongoing corrective strategy; and environmental and economic resilience in earthquake prone regions like Taiwan.
Learning and Impact
Scientific research demonstrates that without urgent action, climate change will have dismal consequences. Events like these are thus quintessential to propel the next generation of corporate leaders towards innovative solutions. But there have been two other key insights from my participation…
First, we can refer to theory. The young economist is taught how to model pollution as a negative externality. A narrative builds, with nature viewed as an ‘international public good’ and land or ocean degradation viewed as a ‘tragedy of the commons’. Here, there is a risk that the learning approach becomes too abstract and aloof from diversity in policy formation. We are bound to our natural surroundings, with that urging diversity in the policy responses that we employ: the Chipko Movement in India advocating forest conservation from 1973 to 2004; the community-led mangrove restoration in Kenya since 2013 facilitated by carbon crediting; and the Philippines’ community-based ‘Fish Forever’ program since 2010 which has increased fish biodiversity by 390% and 111% inside and outside marine protected areas, respectively. By decentralising climate action and involving local communities in specific efforts that orchestrate into one big project, real impact is intensified.
Second, we can refer to culture. The Economics Network Employer’s Survey of Graduates finds that 35.9% of employers rate ‘awareness of cross-cultural issues’ as ‘not very high’. This event, in contrast, embraces cultural diversity. It expanded my network, creating opportunities for current and future collaborations, and improved my understanding on current commercial and other anthropogenic practices that need transforming if we are to alleviate this crisis. I’m left with a roadmap towards a career in the field of environmental economics. I therefore thank the School of Economics for helping to provide such opportunities and urge my fellow students to also take advantage of such embedded employability events. My focus is on ensuring future start-ups are ESG (Environmental, Social and Governance) compliant and consciously contribute to environmental resilience. What will be yours?
Banner Image by Marek Okon on Unsplash