27th Ambassadorship, Month 5, Report 2

Free Report: January

Title: Carbon Neutrality

Carbon neutrality refers to a balance between carbon emissions and carbon absorption from the atmosphere in carbon sinks. Carbon sequestration is the process of removing carbon dioxide from the atmosphere and storing it. All global greenhouse gas (GHG) emissions must be offset by carbon sequestration in order to achieve net zero emissions.

As the globe commemorates the fifth anniversary of the historic Paris Climate Agreement, a potential movement toward carbon neutrality is gaining traction. By January 2022, countries accounting for more than 65% of harmful greenhouse gas emissions and more than 70% of global GDP will have committed to achieving net zero emissions by the middle of the century.

Simultaneously, the primary climate indicators are deteriorating. Carbon dioxide levels are still at historic highs and growing  despite the Covid-19 outbreak momentarily reducing emissions. The last ten years have been the hottest on record, with Arctic sea ice at its lowest level ever in October and apocalyptic fires, floods, droughts, and storms becoming the new normal. Biodiversity is vanishing, deserts are expanding, and the oceans are warming and becoming choked with plastic debris. Things will get worse unless we slash fossil fuel production by 6% per year between now and 2030, according to science. Instead, the word is expected to grow by 2% per year.

Second, global finance must be aligned with the Paris Agreement and the Sustainable Development Goals, which serve as the world's roadmap for a brighter future. Third, we must achieve a breakthrough in adaptation and resilience in order to assist people who are already suffering from the effects of climate change. Major United Nations conferences and other activities on biodiversity, seas, transportation, energy, cities, and food systems will provide us with a plethora of options to address our planetary emergency next year. Nature is one of our most powerful allies: natural-based solutions could offer one-third of the net reductions in greenhouse gas emissions needed to satisfy the Paris Agreement's targets. Indigenous knowledge can guide you in the right direction.

The recovery from a pandemic provides an unexpected but critical chance to combat climate change, improve our global environment, re-engineer economies, and re-imagine our future. Here's what we need to do:

To begin, we must form a truly global coalition to achieve carbon neutrality by 2050.

The European Union has stated its intention to do so. More than 110 countries, including the United Kingdom, Japan, and the Republic of Korea, have followed suit. The incoming US administration has done the same. China has stated that it will achieve this goal by the year 2060. Every country, city, financial institution, and industry should establish net zero plans — and act now to get on the right track to achieving that target, which requires a 45 percent reduction in global emissions by 2030 compared to 2010 levels.

References:

https://www.un.org/sg/en/content/sg/articles/2020-12-11/carbon-neutrality-2050-the-world%E2%80%99s-most-urgent-mission

https://www.offsetguide.org/understanding-carbon-offsets/the-role-of-offsets-in-carbon-management-strategies/achieving-carbon-neutrality/