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Emissions trading is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants. The concept is also known as cap and trade (CAT) or emissions trading scheme (ETS). Carbon emission trading for CO2 and other greenhouse gases has been introduced in China, the European Union and other countries as a key tool for climate change mitigation. Other schemes include sulfur dioxide and other pollutants.
Energy policy is the manner in which a given entity has decided to address issues of energy development including energy conversion, distribution and use as well as reduction of greenhouse gas emissions in order to contribute to climate change mitigation. The attributes of energy policy may include legislation, international treaties, incentives to investment, guidelines for energy conservation, taxation and other public policy techniques. Energy is a core component of modern economies. A functioning economy requires not only labor and capital but also energy, for manufacturing processes, transportation, communication, agriculture, and more. Energy planning is more detailed than energy policy.
An emission intensity is the emission rate of a given pollutant relative to the intensity of a specific activity, or an industrial production process; for example grams of carbon dioxide released per megajoule of energy produced, or the ratio of greenhouse gas emissions produced to gross domestic product (GDP). Emission intensities are used to derive estimates of air pollutant or greenhouse gas emissions based on the amount of fuel combusted, the number of animals in animal husbandry, on industrial production levels, distances traveled or similar activity data. Emission intensities may also be used to compare the environmental impact of different fuels or activities. In some case the related terms emission factor and carbon intensity are used interchangeably. The jargon used can be different, for different fields/industrial sectors; normally the term "carbon" excludes other pollutants, such as particulate emissions. One commonly used figure is carbon intensity per kilowatt-hour (CIPK), which is used to compare emissions from different sources of electrical power.
Climate change mitigation is action to limit climate change by reducing emissions of greenhouse gases or removing those gases from the atmosphere. The recent rise in global average temperature is mostly due to emissions from burning fossil fuels such as coal, oil, and natural gas. Mitigation can reduce emissions by transitioning to sustainable energy sources, conserving energy, and increasing efficiency. It is possible to remove carbon dioxide from the atmosphere by enlarging forests, restoring wetlands and using other natural and technical processes. Experts call these processes carbon sequestration. Governments and companies have pledged to reduce emissions to prevent dangerous climate change in line with international negotiations to limit warming by reducing emissions.
The carbon footprint (or greenhouse gas footprint) serves as an indicator to compare the total amount of greenhouse gases emitted from an activity, product, company or country. Carbon footprints are usually reported in tons of emissions (CO2-equivalent) per unit of comparison; such as per year, person, kg protein, km travelled and alike. For a product, its carbon footprint includes the emissions for the entire life cycle from the production along the supply chain to its final consumption and disposal. Similarly for an organization, its carbon footprint includes the direct as well as the indirect emissions caused by the organization (called Scope 1, 2 and 3 in the Greenhouse Gas Protocol that is used for carbon accounting of organizations). Several methodologies and online tools exist to calculate the carbon footprint, depending on whether the focus is on a country, organization, product or individual person. For example, the carbon footprint of a product could help consumers decide which product to buy if they want to be climate aware. In the context of climate change mitigation activities, the carbon footprint can help distinguish those economic activities with a high footprint from those with a low footprint. In other words, the carbon footprint concept allows everyone to make comparisons between the climate-relevant impacts of individuals, products, companies, countries. In doing so, it helps to devise strategies and priorities for reducing the carbon footprint.
A low-carbon economy (LCE) or decarbonised economy is an economy based on energy sources that produce low levels of greenhouse gas (GHG) emissions. GHG emissions due to human activity are the dominant cause of observed climate change since the mid-20th century. Continued emission of greenhouse gases will cause long-lasting changes around the world, increasing the likelihood of severe, pervasive, and irreversible effects for people and ecosystems. Shifting to a low-carbon economy on a global scale could bring substantial benefits both for developed and developing countries. Many countries around the world are designing and implementing low-emission development strategies (LEDS). These strategies seek to achieve social, economic, and environmental development goals while reducing long-term greenhouse gas emissions and increasing resilience to the effects of climate change.
The Investor Network on Climate Risk (INCR) is a nonprofit organization of investors and financial institutions that promotes better understanding of the financial risks and investment opportunities posed by climate change. INCR is coordinated by Ceres, a coalition of investors and environmental groups working to advance sustainable prosperity.
Greenhouse gas emissions from human activities strengthen the greenhouse effect, contributing to climate change. Most is carbon dioxide from burning fossil fuels: coal, oil, and natural gas. The largest emitters include coal in China and large oil and gas companies. Human-caused emissions have increased atmospheric carbon dioxide by about 50% over pre-industrial levels. The growing levels of emissions have varied, but have been consistent among all greenhouse gases. Emissions in the 2010s averaged 56 billion tons a year, higher than any decade before. Total cumulative emissions from 1870 to 2017 were 425±20 GtC from fossil fuels and industry, and 180±60 GtC from land use change. Land-use change, such as deforestation, caused about 31% of cumulative emissions over 1870–2017, coal 32%, oil 25%, and gas 10%.
The United States produced 5.2 billion metric tons of carbon dioxide equivalent greenhouse gas (GHG) emissions in 2020, the second largest in the world after greenhouse gas emissions by China and among the countries with the highest greenhouse gas emissions per person. In 2019 China is estimated to have emitted 27% of world GHG, followed by the United States with 11%, then India with 6.6%. In total the United States has emitted a quarter of world GHG, more than any other country. Annual emissions are over 15 tons per person and, amongst the top eight emitters, is the highest country by greenhouse gas emissions per person. However, the IEA estimates that the richest decile in the US emits over 55 tonnes of CO2 per capita each year. Because coal-fired power stations are gradually shutting down, in the 2010s emissions from electricity generation fell to second place behind transportation which is now the largest single source. In 2020, 27% of the GHG emissions of the United States were from transportation, 25% from electricity, 24% from industry, 13% from commercial and residential buildings and 11% from agriculture. In 2021, the electric power sector was the second largest source of U.S. greenhouse gas emissions, accounting for 25% of the U.S. total. These greenhouse gas emissions are contributing to climate change in the United States, as well as worldwide.
Carbon leakage a concept to quantify an increase in greenhouse gas emissions in one country as a result of an emissions reduction by a second country with stricter climate change mitigation policies. Carbon leakage is one type of spill-over effect. Spill-over effects can be positive or negative; for example, emission reductions policy might lead to technological developments that aid reductions outside of the policy area. Carbon leakage is defined as "the increase in CO2 emissions outside the countries taking domestic mitigation action divided by the reduction in the emissions of these countries." It is expressed as a percentage, and can be greater or less than 100%. There is no consensus over the magnitude of long-term leakage effects.
Emission trading (ETS) for carbon dioxide (CO2) and other greenhouse gases (GHG) is a form of carbon pricing; also known as cap and trade (CAT) or carbon pricing. It is an approach to limit climate change by creating a market with limited allowances for emissions. This can lower competitiveness of fossil fuels and accelerate investments into low carbon sources of energy such as wind power and photovoltaics. Fossil fuels are the main driver for climate change. They account for 89% of all CO2 emissions and 68% of all GHG emissions.
Abatement cost is the cost of reducing environmental negatives such as pollution. Marginal cost is an economic concept that measures the cost of an additional unit. The marginal abatement cost, in general, measures the cost of reducing one more unit of pollution. Marginal abatement costs are also called the "marginal cost" of reducing such environmental negatives.
The economics of climate change mitigation is part of the economics of climate change related to climate change mitigation, that is actions that are designed to limit the amount of long-term climate change. Mitigation may be achieved through the reduction of greenhouse gas (GHG) emissions and the enhancement of sinks that absorb GHGs, for example forests.
Climate change scenarios or socioeconomic scenarios are projections of future greenhouse gas (GHG) emissions used by analysts to assess future vulnerability to climate change. Scenarios and pathways are created by scientists to survey any long term routes and explore the effectiveness of mitigation and helps us understand what the future may hold this will allow us to envision the future of human environment system. Producing scenarios requires estimates of future population levels, economic activity, the structure of governance, social values, and patterns of technological change. Economic and energy modelling can be used to analyze and quantify the effects of such drivers.
In 2020, net greenhouse gas (GHG) emissions in the United Kingdom (UK) were a little over 400 million tonnes (Mt) carbon dioxide equivalent, of which about 320 Mt was carbon dioxide. The government estimates that emissions increased by 6% in 2021 with the easing of COVID-19 restrictions, about half of the increase being due to the extra road transport. The UK has over time emitted about 3% of the world total human caused CO2, with a current rate under 1%, although the population is less than 1%.
Green economy policies in Canada are policies that contribute to transitioning the Canadian economy to a more environmentally sustainable one. The green economy can be defined as an economy, "that results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities." Aspects of a green economy would include stable growth in income and employment that is driven by private and public investment into policies and actions that reduce carbon emissions, pollution and prevent the loss of biodiversity.
Coal, cars and lorries vent more than a third of Turkey's five hundred million tonnes of annual greenhouse gas emissions—mostly carbon dioxide—and are part of the cause of climate change in Turkey. The nation's coal-fired power stations emit the most carbon dioxide, and other significant sources are road vehicles running on petrol or diesel. After coal and oil the third most polluting fuel is fossil gas; which is burnt in Turkey's gas-fired power stations, homes and workplaces. Much methane is belched by livestock; cows alone produce half of the greenhouse gas from agriculture in Turkey.
Greenhouse gas emissions by China are the largest of any country in the world both in production and consumption terms, and stem mainly from coal burning in China, including coal-fired power stations, coal mining, and blast furnaces producing iron and steel. When measuring production-based emissions, China emitted over 14 gigatonnes (Gt) CO2eq of greenhouse gases in 2019, 27% of the world total. When measuring in consumption-based terms, which adds emissions associated with imported goods and extracts those associated with exported goods, China accounts for 13 gigatonnes (Gt) or 25% of global emissions.
Greenhouse gas emissionsbyRussia are mostly from fossil gas, oil and coal. Russia emits 2 or 3 billion tonnes CO2eq of greenhouse gases each year; about 4% of world emissions. Annual carbon dioxide emissions alone are about 12 tons per person, more than double the world average. Cutting greenhouse gas emissions, and therefore air pollution in Russia, would have health benefits greater than the cost. The country is the world's biggest methane emitter, and 4 billion dollars worth of methane was estimated to leak in 2019/20.
World energy supply and consumption is global production and preparation of fuel, generation of electricity, energy transport, and energy consumption. It is a basic part of economic activity. It includes heat, but not energy from food.
References
- ↑ Energy Scenarios, Technology Development and Climate Policy Analysis with the POLES Modelling System Archived 2011-08-19 at the Wayback Machine
- ↑ Emissions Constraints and Induced Technical Change in the Energy Sector: simulations with the POLES model
- ↑ Techpol, un observatoire des nouvelles technologies de l'énergie, Menanteau, P., in Lettre Techniques de l'Ingénieur - Energies, 2 (2006) 5-6
- ↑ Enerdata Poles Model
- ↑ "Uses at IPTS". Archived from the original on 2010-05-06. Retrieved 2010-02-11.
- ↑ Coupling with the GEM-E3 model Archived 2006-10-01 at the Wayback Machine
- ↑ Greenhouse gas reduction pathways in the UNFCCC process up to 2025 - study for DG ENV
- ↑ World Energy Technology Outlook 2050 Archived 2010-07-15 at the Wayback Machine - study for DG RTD
- ↑ Facteur 4 Archived 2006-11-27 at the Wayback Machine - study for the French ministry of finance and industry
- ↑ Sustainable paths for EU increased climate and energy ambition Enel study
- ↑ Costs and Benefits to EU Member States of 2030 Climate and Energy Targets
- ↑ Sharing developed countries’ post-2012 greenhouse gas emission reductions based on comparable efforts Archived 2011-07-10 at the Wayback Machine
- ↑ Economic Assessment of Post-2012 Global Climate Policies using POLES and GEM-E3
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