Reducing carbon: Why and how
- Combating man-made global warming will entail deep economic, financial, and regulatory adjustments
- Public sector mandates and market-based solutions will both be needed in this historic journey
- We take stock of climate change science, the economics, pricing, and financing of decarbonisation
- Nature-based solutions are particularly important in the South-East Asian context
- China’s progress is pivotal to move the needle at global scale
Climate change is the defining challenge and imperative of this and coming generations. Combating man-made global warming will entail deep economic, financial, and regulatory adjustments. Public sector mandates and market-based solutions will both be needed in this historic journey. In this primer, we examine the why and how of decarbonisation, which includes reducing carbon emission and capturing/sequestering carbon. Sections are devoted to setting the context with basic facts and the science of climate change, current progress and targets, the economics, pricing, and financing of decarbonisation. Nature-based solutions are particularly important in the South-East Asian context, as a significant portion of global tropical forestry and peatlands reside in the region. Accounting for 28% of global emission, China’s progress with reducing its carbon footprint is at the top of global interest. We examine its long-term plans and serious efforts already underway. The calling is not just for governments and corporations; civil society and individuals are playing a critical role too. From raising consciousness on one’s consumption pattern to promoting conservation, the bottom-up approaches are likely to be as transformational as any top-down initiatives
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