The effective greenhouse gas emission control policies that involves countries with assumed commitment to tackle Climate Change towards undertaking economy wide emission reduction targets, national efforts in every country must be overriding to contribute with the objectives by limiting global warming to well below 2°C attempting to limit it to 1.5°C through activities very well coordinated by the governments that ratified the Paris Agreement .
The role of transparency and accountability in measuring and reporting GHG emissions must be very well clearly by identifying and recognizing the workforce in charge of this topic addressing that to the central goals in the agenda of the leaders of the implementation of the plans.
Designing GHG emission policies for taking action to incentivize emission reductions is very challenging in getting support in long-term financing considering the risks associated with low-carbon projects, that’s why institutions providing insurance are complementing the programs avoiding constraints in banking sectors.
Carbon Taxes are also the key that Governments use to regulate the market, and also the carbon pricing of the trade of carbon emission is being taken into consideration in shaping the finance strategies.
Carbon Dioxide comes from volcanoes eruptions, breathing processes, and from some human activities such as deforestation or the burning of CO2.
In world history, the maior incrementation of CO2 is related to the Industrial Revolution initiated by the mid-18th century during the transition to new manufacturing processes in Europe and in the United States of America, and CO2 has increased to 47% since that moment of time.
The burning of fossil fuels like coal, oil, and gasoline in human activities, provoke gases emissions that increase the average surface temperature of the planet, The high level of the CO2 and other greenhouse gases in the atmosphere causes Earth to warm-up.
Too much concentration of CO2 can produce a bad effect in life in the oceans like Ocean Acidification changing the water by making it more acidic.
Even so, CO2 is not all bad, plants need that to give away oxygen vital for the life of animals and humans, but the excess of this component can harm causing the Earth to get even warmer . CO2 is also useful in holding heat from the sun, otherwise, our planet would be frozen solid.
More than 40 countries in the world adopted some sort of price on carbon such as New Zealand, Australia, Singapore, Japan, South Korea, Kazakhstan, many countries in the European Union, Canada, Mexico, Colombia, Chile, and Argentina.
Carbon taxes involve companies that refine, produce, elaborate, manufacture and/or obtain liquid fuels and/or other derivatives of hydrocarbons in all their forms.
It's remarkable the enhance of the behaviour of the nations in the world globalizing this problem to work together by having agreements like the Kyoto protocol adopted in 1997 and still in force in our time, that commits state parties to reduce greenhouse gas emissions: Carbon Dioxide (CO2), Methane (CH4), Nitrous Oxide (N2O), Hydrofluorocarbons (HFCs), Perfluorocarbons (HFCs), and Sulphur Hexafluoride (SF6). This international treaty was celebrated by 37 countries and the European Union, and established an Adaptation Fund to finance projects and programmes in developing countries that can not overcome the adversities in a manner that climate change effects bring. This Adaptation Fund is a Clean Development Mechanism that shall serve the Paris Agreement.
In this scenario, countries should have improved their policies environments, considering the objectives and strategies incentivizing innovation in the legal frameworks with the good job of the Research, Development & Deployment (RD&D) focused in cooperation concerning information flows, new technology, promotion of activities, and the diffusion of new valuable content of the investigations.
For this, the participation of industrializing countries and developing countries is crucial involving the engagement of the private sector working closely with the public sector to facilitate the collaboration to transform the plans to action.
Renewable energy investments shares were attracked by East Asia and Pacific led by China in 32% of a global total over 2013-2018, and in 2018 the regions reached 84.24 USD billion (26% of the total year) followed mostly by OECD Americas (Organization for Economic Cooperation and Development) 81.61 USD billion (25%), and Western Europe 56.79 USD billion (18%). The OECD countries have investment incentives such as feed-in tariffs, public tenders, and renewables energy certificates; also concentration in innovation by RD&D considering the work in universities and the protection of intellectual rights and patents; carbon taxes, energy taxation, and fossil fuels activity control; processes requiring promotion, public governance, and policies to clarify the intentions of investment, financing, and the market activities; world bank global financial development, and product market regulations.
What about the G20 country experiences working together to strengthen the global response to the threat of Climate Change?
Countries are being focused on development of infrastructure and job creation, long-term low greenhouse emission development strategies, and climate finance flows for the correct implementations of the goals.
The participation process involves government performance, private sector, and stakeholders. Financial Institutions and NGOs are part of the battle to fight climate change.
It's real that the technology attracting most investment are solar and wind, but the changing to the new energy movement is still in process by trying to change fossil fuels to renewables as energy supply. Subsidies were being focused on electricity from fossil fuels, and loans are not provided at a lower interest rate for financing renewable energy projects, so they are considered barriers that policy makers should consider:
Canada was working with Chile and Mexico in cooperation identifying cost effective and high impact opportunities to reduce emissions including methal and black carbon adding financial institutions in the framework. Chile is leading Latin America in terms of investment in solar energy, and they have the goal to reach 20% of renewable energy by 2025.
The European Union is making the effort sharing regulation setting emissions reductions targets of 40% by 2030 compared to 1990 to meet commitment under Paris Agreement. The European Central Bank primary objective is to maintain price stability dealing with climate inflation connected to mitigation policies, that can also affect consumer prices such as electricity and petrol directly or indirectly.
The Netherlands is taking steps for greenhouse gas emission reduction of 49% by 2030, more than the European Union that is 40%..
France is expecting to reduce domestic GHG emissions by 75% with carbon budgets reviews until 2050 that is a long-term strategy according to their National Low-Carbon Strategies. They are focused mostly on transportation, agriculture, and industry. And they apply carbon taxes for fuel, gas, and coal.
Another country with a long-term carbon strategy is Germany with a climate action plan 2050 that includes Land-use and forestry.
Indonesia is focused on key stakeholders and sectorial implementation plans.
South Korea is endeavouring to enhance low-carbon energy by increasing renewable energy to 20% by 2030. The most challenging areas to work with are: Industry, building & homes, and transportation.
The government of Mexico is dealing with structural government organization with the help of an advisory body with participation of individuals from the private sector, NGOs, and academias. The country has two funds, one for the energy efficiency and rural electrification initiatives, and another one that offers subsidies for renewable energy projects.
The United Kingdom works on reducing its emissions by at least 80% by 2050 that includes five-early carbon budgets.
Italy's national strategy aims to reduce GHG by 2030 comprehending the reducing consumptions of electricity, natural gas, and other forms of energy that includes a 'White Certificate System' to control the actors in the field.
In Russia, the government with the help of stakeholders are trying to reduce the consumption by using mechanisms such as certifications
Turkey has a national plan focused on industrial consumption by efficiency improvement projects with the help of officials, funds, and cooperation of NGOs.
Clean energy projects are being supported by the government of Australia for the investment in innovation, research, promotion, development and deployment. One example is the Clean Energy Finance Corporation which accelerates private sector investment.
Brazilian Energy Policies principles are energy security, diversification of energy, sustainability, and low energy prices. They are expanding the use of non-fossil fuel energy, wanting to reach 23% in 2030 including by raising the share of wind, biomass, and solar. According to Inter-American Development Bank, this is one of the three most remarkable countries investing in renewable energy in Latin America followed by Chile, and Mexico. Brazilians investments are being focused more on wind power than on solar power. They also established a National Biofuel Policy with the goal of emission reduction of 847 millions tco2e considering ethanol and biodiesel use by 2030.
India is investing in solar parks supported by government incentives.
Japan has set a goal of reducing greenhouse gas emissions by 26% by 2030. It requires 42 japanese private companies as stakeholders.
The United States of America approach is connected with RD&D, and new technologies for energy saving. They aim to reduce greenhouse emission by at least 26-28 percent below 2005 levels by 2025.
Argentina monitors a Climate Change Risk Map System to measure the impact of this problem identifying the threats and vulnerabilities
Due to the consequences of Climate Change effect and in response to the billions of dollars wasted in infrastructure to avoid floods, China is creating a resilient city pilot in Changde called “the sponge city”.
And they are also investing in solar power projects aimed to reduce 73,000 carbon emission per year.
In Saudi Arabia the desert dominates the country, so they have set a target to produce 9.5 gigawatts of renewable energy by 2030.
South Africa is working on ecosystem services surrounding the communities affected by Climate Change.
What was the impact of Covid-19 across G20 countries?
Concentrations of CO2 continued to rise in the atmosphere. To limit warming to 1.5⁰C, global CO2 emission needs to be reduced by 45% by 2030 compared to 2010 level, and reach net zero by 2050.
Mexico, the UK, and Germany experienced the deepest reduction of CO2 in 2020. Turkey, Indonesia, and South Korea also reduced emission significantly.
Thinking positive, renewables were projected to increase due to many factors like the reduction of peak demand, and the prices during the lockdown, but most of the country members decided to be focused on their effort to respond to the emergency demands for the consequences of the pandemic, that means healthcare, social protection, employment, and economy stimulus.
Countries of the G20 should realign with the Paris Agreement and Sustainable Goals in terms of investment in infrastructure; investment in nature-based solutions and the environment (landscapes and forestry, agriculture); education and R&D; conditional bailouts (protected jobs, supply chain transparency) ; and reinforce policy, regulations, and incentives.
Sadly, It was found that 19 countries of the G20 were financing the national sectors of oil, coal, and gas more than renewables projects in response of Covid-19 effects.
So resilient in the energy system has been being proved during the pandemic and the recession crisis.
The G20 represents the 80% of world GDP and three-quarter of world trade. The group is also responsible for 75% of global greenhouse gas emission.
Summary
The package stimulus was focused on healthcare, social security, and to boost economic activity during 2020.
The process of recovery from Covid-19 should be aligned gradually to the green stimulus framework.
Projects of renewable energy needs support over fossil fuels energy already established.
Infrastructure, building sector, transportation, carbon prices, R&D, and financial sector need to be reoriented to get the goals of the Paris Agreement.
The main goal is to keep the balance of greenhouse gases in the atmosphere attempting to limit global warming to 1.5°C.
Government, private sector, and stakeholders should line up for the main purpose.
G20 countries are responsible for 75% of global greenhouse gas emission.
by Nicolas Sourivomgxay
https://nicolasourivongxay.wordpress.com/
https://nscomexthinktank.wordpress.com/nscomex-climate-change/
Source:
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https://unfccc.int/process-and-meetings/the-kyoto-protocol/what-is-the-kyoto-protocol/kyoto-protocol-targets-for-the-first-commitment-period
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http://www.usclimatealliance.org/
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