global GHG emissions hit a new record of 55.3 GtCO 2 e in 2018, including land use
change, being 68% from fossil fuels use. To assure that warming stays below 2 °C
or 1.5 °C, emissions by 2030 have to be 25 or 55% lower than in 2018, respectively
[23]. For 2030, assuming the implementation of all unconditional NDC (i.e.
implementable by countries without external support), the emissions gap between
estimated total global emissions a 2 °C and 1.5 °C pathways results in a gap of 15
GtCO 2 e and 32 GtCO 2 e, respectively [23].
Several Parties are developing national and regional (e.g. European Union)
borne instruments to deliver how carbon neutrality may be achieved up to 2050.
The European Union, France, Canada, Japan, United Kingdom, Portugal and
Germany among others have already delivered to the UNFCCC their long-term
strategies, with the commitment to achieve a balance a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the
second half of this century.
The European Green Deal [24] settles a sound vision for the European Union
member states, asking for an economies’ transition towards their carbon neutrality
by 2050. A set of specific regulatory instruments are proposed to be adopted, like a
climate law enshrining the 2050 climate neutrality objective, a revision of the
Energy Taxation Directive, and relevant legislative measures to deliver on the
increased climate ambition, like the review of the Emissions Trading System
Directive; Effort Sharing Regulation; land use, land use change and forestry regulation; Energy Efficiency Directive; Renewable Energy Directive; CO 2 emissions
performance standards for cars and vans. This regulatory plethora will demand for
innovation in all economic sectors and processes, to deliver carbon neutrality and
not an incremental emissions reduction.
Even without delivering long-term strategies yet, many countries are being
implemented diverse instruments to reduce emissions, like the China national
carbon pricing scheme, the India investments on renewable energy and the zero
emission vehicle programs adopted by 14 states in the USA. The regulation of GHG
emissions from the UNFCCC multilateral framework down to the country level is a
corner stone to tackle climate change, for three reasons: it gives a long-term perspective, which is essential to secure investments; it sets the problem solving
worldwide, which is a requirement to avoid carbon leakage (i.e. businesses transfer
production to other countries with laxer emission constraints); and it gives a high
common ambition, which stimulates innovation demanding high levels of investment for R and DD. Achieving carbon neutrality worldwide while promoting
economic development and new jobs has been a common understanding of carbon
regulation.
To avoid catastrophic consequences from climate change, the world has to
considerably increase its efforts to reduce GHG emissions through a decarbonisation of the global economy while respecting sustainable development principles and
benefiting both the humanity and the planetary system. The Paris Agreement do
have moderately positive conditions to overcome the so-called effectiveness trilemma, providing participation, ambition and also compliance as a mitigation
mechanism towards a global solution for climate change [25].
Carbon Economy and Carbon Footprint
15
change, being 68% from fossil fuels use. To assure that warming stays below 2 °C
or 1.5 °C, emissions by 2030 have to be 25 or 55% lower than in 2018, respectively
[23]. For 2030, assuming the implementation of all unconditional NDC (i.e.
implementable by countries without external support), the emissions gap between
estimated total global emissions a 2 °C and 1.5 °C pathways results in a gap of 15
GtCO 2 e and 32 GtCO 2 e, respectively [23].
Several Parties are developing national and regional (e.g. European Union)
borne instruments to deliver how carbon neutrality may be achieved up to 2050.
The European Union, France, Canada, Japan, United Kingdom, Portugal and
Germany among others have already delivered to the UNFCCC their long-term
strategies, with the commitment to achieve a balance a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the
second half of this century.
The European Green Deal [24] settles a sound vision for the European Union
member states, asking for an economies’ transition towards their carbon neutrality
by 2050. A set of specific regulatory instruments are proposed to be adopted, like a
climate law enshrining the 2050 climate neutrality objective, a revision of the
Energy Taxation Directive, and relevant legislative measures to deliver on the
increased climate ambition, like the review of the Emissions Trading System
Directive; Effort Sharing Regulation; land use, land use change and forestry regulation; Energy Efficiency Directive; Renewable Energy Directive; CO 2 emissions
performance standards for cars and vans. This regulatory plethora will demand for
innovation in all economic sectors and processes, to deliver carbon neutrality and
not an incremental emissions reduction.
Even without delivering long-term strategies yet, many countries are being
implemented diverse instruments to reduce emissions, like the China national
carbon pricing scheme, the India investments on renewable energy and the zero
emission vehicle programs adopted by 14 states in the USA. The regulation of GHG
emissions from the UNFCCC multilateral framework down to the country level is a
corner stone to tackle climate change, for three reasons: it gives a long-term perspective, which is essential to secure investments; it sets the problem solving
worldwide, which is a requirement to avoid carbon leakage (i.e. businesses transfer
production to other countries with laxer emission constraints); and it gives a high
common ambition, which stimulates innovation demanding high levels of investment for R and DD. Achieving carbon neutrality worldwide while promoting
economic development and new jobs has been a common understanding of carbon
regulation.
To avoid catastrophic consequences from climate change, the world has to
considerably increase its efforts to reduce GHG emissions through a decarbonisation of the global economy while respecting sustainable development principles and
benefiting both the humanity and the planetary system. The Paris Agreement do
have moderately positive conditions to overcome the so-called effectiveness trilemma, providing participation, ambition and also compliance as a mitigation
mechanism towards a global solution for climate change [25].
Carbon Economy and Carbon Footprint
15