Editor's note: Freddie Reidy, a special commentator for CGTN, is a freelance writer based in London, specializing in international politics. The article reflects the author's opinions and not necessarily the views of CGTN.

In November, world leaders will meet for the 30th Conference of the Parties to the United Nations Convention on Climate Change (COP30) in Brazil. Governments will once again be urged to redouble their efforts in a bid to mitigate the impact of climate change.

Since the landmark COP21 in Paris in 2015 and the redoubling of efforts in COP26 in Glasgow in 2021, significant advancements have been made despite the prevailing headwinds impacting energy prices and advancing short-term economic considerations.

An IMF study this year found that about 73 percent of energy forecast error variation was due to cross-border volatility spillovers, dominating Europe's national electricity markets. In other words, spikes in energy prices above those set by regulators are disproportionately impacted by external factors such as conflict or supply chain issues.

Within the EU, electricty price has fluctuated from €0.10 per kilowatt hour (KWh) in Hungary to €0.33 per KWh in Belgium, reflecting the uneven supply of electricity. The energy crisis of 2022 sent coal prices soaring in Europe, necessitating the deployment of strategic reserves to stabilize the market.

A recent narrative is that we should strive to reduce energy consumption, but is this correct? On the contrary, should we not consume more to drive the industries (including green industries) of the future and allow us to do bigger and greater things?

The key here though is efficiency and sustainability. Perpetual consumption of hydrocarbons locks economies into dependence on external market forces while causing severe environmental damage.

The alternative pursuit of a secure and sustainable energy panacea requires strategic cooperation. Though given enough time, nations could independently develop the technology and infrastructure required for the future, but at what cost?

To overcome these challenges, China and Europe set about to share and cooperate on specific areas of expertise underpinned by the EU-China Energy Dialogue. China's preeminence in manufacturing photovoltaic devices for example has enabled deployment in Europe at speed and scale. A KPMG study found that the infusion of Chinese manufacturing efficiencies into European renewable projects has not only reduced costs but also laid the groundwork for a transcontinental standard in photovoltaic deployment.

The UK is home to one of the world's largest wind farms, but its technology has a built-in weakness in predicting wind and lacks the ability to store energy created outside peak hours. European universities such as Imperial College London (Energy Futures Lab) and Germany's Fraunhofer (SinoTrough Project) have helped drive innovation in the sector with China. In the UK, the Mendi Battery Energy Storage Project, developed by the China Huaneng Group and a symbol of Sino-European cooperation, is due to complete its final pre-implementation stage at the end of this year.

From Croatia's Senj Wind Farm – a 156MW onshore wind power project – to Portugal's Tamega Eolico project, which generates enough energy for 128,000 homes, Sino-European partnerships are aiding Europe to generate clean energy.

In China too, the legacy parts of its energy grid were centered around coal-fired power stations. The EU-China Energy Cooperation Platform ushered in a more flexible and resilient system which has enabled China to reduce costs and dependency on hydrocarbons while insulating against fossil fuel price instability.

However, the progress in energy transition is not without teething problems. Traditional grid systems were designed around large single power stations. The rapid deployment of multiple energy-creating sources has placed a strain on older systems. In Spain, the recent blackouts are attributed by some to this issue.

Cooperation has other complications as well. The Donald Trump Administration in the U.S. has been strongly lobbying the UK government to block the construction of a new wind turbine factory in Scotland by Chinese firm Mingyang. Such a move would fly in the face of the UK government's recent bilateral commitment to environmental goals. There is also a feeling that with the U.S. once again pulling out of the Paris Climate Accord, a new global leadership is required to fill the void.

While the challenges of energy security and climate change are great, through deep level cooperation, the future is bright. As late U.S. President John Kennedy once said, "Our problems are manmade – therefore they can be solved by man… Man's reason and spirit have often solved the seemingly unsolvable – and we believe they can do it again."

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