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Climate Ambitions Will Fail Without Decarbonization Now

EXPERT COMMENT

Although 2021 is billed as the super year for governments to ramp up their climate ambition, actionable plans are needed to radically decarbonize economies now.

As 2020 ends, optimism is beginning to percolate through climate campaigning and diplomacy spheres as key countries commit to ambitious targets. China has just announced its 2030 target of lowering its emissions per unit of GDP by more than 65 per cent – relative to 2005 – and has pledged carbon neutrality by 2060.

Joe Biden says the US will re-join the Paris Agreement and achieve net-zero by 2050, while both the EU and UK are targeting significant reductions in emissions – of 55 and 68 per cent respectively – by the end of the decade.

This acceleration of climate change mitigation targets led the independent Climate Action Tracker to announce that ‘if all national governments meet their 2050 net-zero emissions targets, warming could be as low as 2.1˚C by 2100, putting the Paris Agreement’s 1.5˚C limit within striking distance’.

This is certainly an optimistic announcement but it is critical to note that, while pledges and targets are crucial to provide industry, consumers, and markets clarity in the direction of government policy, targets can only be delivered if supported by actionable policies, enforceable regulations, intelligent legislation, and credible stimulus and subsidies. With COP26 due in November 2021, it is important to remember the risks if governments fail to deliver on this optimism.

Click here to continue reading the full version of this Expert Comment on the Chatham House website.

 

Channel website: https://www.chathamhouse.org/

Original article link: https://www.chathamhouse.org/2020/12/climate-ambitions-will-fail-without-decarbonization-now

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