Current unilateral efforts to reduce greenhouse gas emissions are failing to stop global emissions from rising, despite the increasingly extreme rhetoric coming from influential environmental groups. While politicians continue to argue that the developed world has an obligation to lead the way in decarbonisation and that the rest of the world will inevitably follow, there is no realistic chance of this happening within the increasingly tight timescale being proposed. The primary reason is that economic solutions to achieve the targets are not even in sight. In the medium to long term, the chances of success would be immeasurably greater if current efforts were to be focussed on R&D to provide the new technologies that would make decarbonisation feasible. If the industrialised world led with this, China, India and the rest of the world would follow because it made economic sense.
Thursday 10 September 2020
THE COST OF NET ZERO AND ITS EFFECTIVENESS
Current unilateral efforts to reduce greenhouse gas emissions are failing to stop global emissions from rising, despite the increasingly extreme rhetoric coming from influential environmental groups. While politicians continue to argue that the developed world has an obligation to lead the way in decarbonisation and that the rest of the world will inevitably follow, there is no realistic chance of this happening within the increasingly tight timescale being proposed. The primary reason is that economic solutions to achieve the targets are not even in sight. In the medium to long term, the chances of success would be immeasurably greater if current efforts were to be focussed on R&D to provide the new technologies that would make decarbonisation feasible. If the industrialised world led with this, China, India and the rest of the world would follow because it made economic sense.
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