Economics student Alex Jayasuria raises his voice at COP26

You’re part of a generation that grew up learning about climate change very early on in their schooling. Where did your interest in climate change begin and when did it start to feel serious?

It’s hard for us in Australia to really gauge the urgency of climate change, as many of us have been sheltered from the acute effects of the crisis. We are educated about the science of it, but very rarely made aware of its long-ranging effects. We’re taught that sea levels will rise a little higher and that the days will get a little warmer – hardly a call for urgent action. It wasn’t until the first year of my studies at Curtin that I came to comprehend the enormity of the problem.

What are you most concerned about in regard to your future and our changing environment?

I have faith in our systems and our ability to adapt to the effects of climate change. However, the ability to react quickly and sufficiently will largely be determined by our comparative wealth. Look at the nations who were able to promptly vaccinate their citizens – these were rich, advanced economies. The Indonesia’s and Brazil’s of the world continue to suffer.

The harmful effects of climate change are further magnified by the disparities in national income and infrastructures. Developing countries simply cannot afford to promptly transition to a climate-resilient economy, particularly after the harsh economic drain of the pandemic. Countries like Australia will need to honour their commitments and financial pledges if developing countries are to adapt and recover in a changing environment. This will likely remain a point of contention moving forward.

You’re currently in your final year of economics at Curtin. Some people would argue it’s thanks to economics and under-regulated capitalism that we’re facing this climate disaster. How do you bring these two areas together in positive ways?

This argument definitely holds some weight. Free market economics and booming industrialisation is certainly the cause of the climate crisis – the ever-expanding academic literature has shown this to be true. However, capitalism and free market economics has also lifted millions out of poverty. It allowed millions to find a better way of life here in Australia, and many advanced economies around the world.

The scholarship has allowed you to represent Australia as a delegate at the COP26 Forum, albeit virtually due to the pandemic. What was that experience like and what were your day-to-day activities? Any highlights?

It’s been a phenomenal experience. You’d think that attending virtually would diminish the spectacle of a multilateral summit, but that has certainly not been the case. I believe the other delegates and I have engaged with more stakeholders virtually than we could possibly have engaged with in person.

What were the outcomes from the COP26 discussions? Do you think drastic change will be achieved?

COP is an iterative process. Countries convene year after year to collaborate and ensure the needle keeps moving. With that in mind, I believe that COP26 has been the most productive summit since Paris 2015. China, India and Australia committed to net zero targets prior to meeting in Glasgow, and China and America (the world’s two largest greenhouse emitters) have formed an alliance to combat climate change. Although there is still plenty to do, these are powerful and catalytic ambitions.

It’s important to note that Australia, like most developed countries, was expected to upgrade its net zero targets – but it did not. Neither China nor India was expected to propose net zero targets by 2050 as they are still developing countries, and it’s a huge achievement that they formally proposed to reach net zero emissions at COP26.

Climate justice is often overlooked in western media. Countries like India and China don’t have the capacity to decarbonise without foreign aid – at least, not without doing so at the expense of the people living there in poverty. Trillions of dollars in natural resources has been stripped from them through the colonial eras, never to be repaid. Meanwhile, a deal was struck between some developed countries and South Africa during COP26, where billions was pledged to help shift South Africa away from coal power. No such aid was lent to India or China.

Every element of the Paris Agreement was also agreed upon again at COP26, including the Nationally Determined Contributions (NDCs) and carbon offset trading schemes, which will allow for a synchronised and transparent transition to net zero.

I think determining whether ‘drastic change’ has been achieved is subjective. Many will say this COP has been incredibly productive. For the first time ever, over 40 countries have pledged to shift away from coal and fossil fuels, and although some of the world’s biggest coal-emitters like China and India softened the language in the pledge from ‘phasing out’ to ‘phasing down’ coal, a global consensus like this is unprecedented. Fossil fuels are on the way out.

Part of this scholarship means you have to present recommendations for economic change in regard to climate policy. What are the biggest economic changes we need to implement to reach a target of net zero greenhouse gas emissions by 2030?

Australia needs to place an expansive and explicit price on carbon. Recent political in-fighting has made it difficult to implement a federally mandated carbon price. We saw this through the ousting of the Rudd, Gillard and Turnbull governments. Australia has therefore taken a different approach, and has allowed the market to set a price for carbon. Referred to as Australian Carbon Credit Units (ACCUs), these financial instruments represent the abatement of one tonne of carbon pollution. Companies purchase ACCUs to offset their current operational pollutions. It’s an incredibly innovative scheme, however it is operating on too small a scale to drive the change we need. My policy fellowship will detail how Australia may best expand this market domestically and throughout the Indo-Pacific region.

Carbon pricing is just one piece of the puzzle. More funding must be directed to the research and development of renewables. And our policy frameworks must also adapt. We can no longer free-ride on the political efforts of other global governments.

Alex (bottom left) joins other Global Voices Scholarship recipients online at COP26.

You’re a council member for Sustainability in Business and Law at Curtin. Why do you think universities can be an ideal space for young people to fight for sustainable climate policy?

Climate change is an extremely complex problem. It is more than supply-side pollution. It’s our culture of consumerism, it’s the current shape of our social and financial infrastructure. I can’t speak for other developed countries, but I can certainly speak for Australia – there is a definite lack of awareness when it comes to climate change, and this stems from undereducation.

What are your career plans after you graduate? Do you think you’ll continue to fight to end man-made climate change?

All I know is that I’m led by my convictions to serve and contribute. Climate change is an enormous problem, and one that will grow in importance as we progress through the decade, so I don’t see myself stopping the work I’m doing in this space.