China is taking a significant step in tackling climate chang

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China is taking a significant step in tackling climate chang

Postby kafa88 on Wed Sep 15, 2021 10:54 am

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The United Nations Intergovernmental Panel on Climate Change has released a special report. It stressed that without "immediate, rapid and substantial" reductions in greenhouse gas emissions, it would be impossible to curb global warming and avoid frequent and severe weather events over the next decade.Many bemoan the huge cost of achieving zero carbon emissions. The Energy Transition Board estimates it is between $1 trillion and $2 trillion a year. However, global fossil fuel subsidies account for about 6 percent of the global economy, more than $5 trillion. naturally Simply agreeing to scrap these subsidies and shift to combat global warming is essential to achieving zero carbon emissions.

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But if humanity fails to achieve zero carbon emissions goals and irreversible climate change occurs, The world will lose many times more. Insurance group SwissRe estimates that uncontrolled increases in global temperatures will reduce output in the global economy by $23 trillion. As a result, global GDP will shrink by 11-14 percent by 2050.Although virtually every state signed the Paris Agreement on Climate Change in 2015, there has only been an attempt to do something specific to implement these agreements. for obvious reasons Everyone is waiting for the first steps,

especially from the major economic powers. In previous articles on this topic I have highlighted the latest initiatives proposed by the European Union (EU) countries. Now everyone expects something to be done in this direction by the most powerful country in the world like the United States.Finally, it is no nonsense that President Biden recently said: "This is the decade in which we must make decisions to avoid the worst consequences of the climate crisis. good is not enough

Achieving the world's sustainable development goals cannot be achieved without China. This accounts for more than a quarter of the world's carbon dioxide emissions and about half of the world's coal consumption. It underscores Beijing's efforts to drive sustainable development of the Chinese economy. and take important steps to achieve zero carbon emissions by 2060.Like the European Union Emissions Trading System (ETS), the world's first large-scale carbon trading program founded in 2005, Chinese authorities have launched their own ETS. Remarkably controlled emissions of harmful gases.

The authors of the law developed a model in which the initial price for emissions would be modest for organizations to become accustomed to paying for environmental pollution. and emissions will increase prices. Carbon prices that are too high will burden companies. inappropriately Meanwhile, too low a price will reduce the incentive to cut carbon,” Zhao Yingwen, deputy minister of ecology and environment, said ahead of the carbon market launch.


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