ISSN (Online): 2321-3418
server-injected
Social Sciences and Humanities
Open Access

Towards a Carbon-Neutral State: International Progress, National Risks, and Coping Strategies

DOI: 10.18535/ijsrm/v9i10.sh03· Pages: 790-802· Vol. 9, No. 10, (2021)· Published: October 26, 2021
PDF
Views: 390 PDF downloads: 215

Abstract

Climate change is a major social, economic and environmental challenge facing all countries in the world today. It has increasingly become a priority on the agenda of international relations. This article outlines major developments in international climate action during and after the pandemic. The article identifies the global trends of carbon action on the countries’ agendas for sustainable development in the near future, including accelerate the implementation of mature zero-carbon solutions and promote zero-carbon technology. It then presents risks in tackling the global climate crisis collectively confronted by the international community at present, such as economic slowdown, energy security, carbon financing, price inflation, carbon barrier, carbon trading and carbon debt. With these common dilemmas in mind, the article sums up by proposing multiple possible directions towards reducing emissions and putting forward some community strategies for New Zealand to implement. These include promote the electrification of transportation and establish green infrastructure, consumption, financial, technology and industrial systems. This article aims to inform on the debate about current challenges in building a sustainable and resilient carbon-neutral state in the wake of global public crisis by analyzing global developing trends in addressing climate change, as well as to provoke thinking on potential options for government to enable net zero carbon and new energy future.

Keywords

Global climate governanceCOVID-19Carbon neutralityParis AgreementEuropean UnionCarbon emission reductions

References

  1. Abnett, K. (2021). EU's carbon border tariff to target steel, cement, power - draft. https://www.reuters.com/business/sustainable-business/eus-carbon-border-tariff-target-steel-cement-power-draft-2021-06-03/Google Scholar ↗
  2. Abnett, K. (2021). Shipping, heating and cars targeted in EU carbon market revamp. https://www.reuters.com/business/sustainable-business/eu-drafts-plan-tighten-carbon-market-expand-it-shipping-cars-heating-2021-06-30/Google Scholar ↗
  3. Bloomberg News. (2021). China is formulating a hydrogen plan but its timing is uncertain. https://www.bloomberg.com/news/articles/2021-04-23/china-is-formulating-a-hydrogen-plan-but-its-timing-is-uncertainGoogle Scholar ↗
  4. Cevik, S., & Jalles, J. (2020a). Feeling the heat: climate shocks and credit ratings. IMF Working Paper No. 20/286. Washington, DC: International Monetary Fund.Google Scholar ↗
  5. Cevik, S., & Jalles, J. (2020b). This changes everything: climate shocks and sovereign bonds. IMF Working Paper No. 20/79. Washington, DC: International Monetary Fund.Google Scholar ↗
  6. Cevik, S., & Jalles, J. (2020c). An apocalypse foretold: climate shocks and sovereign defaults. IMF Working Paper No. 20/231. Washington, DC: International Monetary Fund.Google Scholar ↗
  7. Energy Resources Aotearoa. (2021). New Zealand’s energy mix. https://www.energymix.co.nz/our-consumption/new-zealands-consumption/Google Scholar ↗
  8. European Commission. (2021). Recovery plan for Europe. https://ec.europa.eu/info/strategy/recovery-plan-europe_en#relatedlinksGoogle Scholar ↗
  9. Government of the United Kingdom. (2020). Government launches new £40 million Clean Growth Fund to supercharge green start-ups. https://www.gov.uk/government/news/government-launches-new-40-million-clean-growth-fund-to-supercharge-green-start-upsGoogle Scholar ↗
  10. Imperial College Business School, SOAS University of London. (2018). Climate change and the cost of capital in developing countries. Executive Summary.Google Scholar ↗
  11. Imperial College London, London School of Economics. (2021). How will acting on climate change affect the economy. https://www.imperial.ac.uk/grantham/publications/climate-change-faqs/how-will-acting-on-climate-change-affect-the-economy/Google Scholar ↗
  12. Klusak, P., Agarwala, M., Burke, M., Kraemer, M., & Mohaddes, K. (2021). Rising temperatures, falling ratings: The effect of climate change on sovereign creditworthiness. Bennet Institute Working PaperGoogle Scholar ↗
  13. McKinsey. (2019). Global energy perspective 2019: Reference case. https://www.mckinsey.com/~/media/mckinsey/industries/oil%20and%20gas/our%20insights/global%20energy%20perspective%202019/mckinsey-energy-insights-global-energy-perspective-2019_reference-case-summary.ashxGoogle Scholar ↗
  14. Morgan, S. (2020). Commission chews over changes to aviation emissions rules. https://www.euractiv.com/section/aviation/news/eu-commission-chews-over-changes-to-aviation-emissions-rules/Google Scholar ↗
  15. Natural Resources Canada. (2020). Hydrogen strategy for Canada - seizing the opportunities for hydrogen - a call to action. https://www.nrcan.gc.ca/sites/www.nrcan.gc.ca/files/environment/hydrogen/NRCan_Hydrogen-Strategy-Canada-na-en-v3.pdfGoogle Scholar ↗
  16. Obayashi, Y. (2020). Japan aims to set up commercial hydrogen fuel supply chain by 2030. https://www.reuters.com/article/us-japan-energy-hydrogen-idUSKBN2700PMGoogle Scholar ↗
  17. OECD. (2021). OECD science, technology and innovation outlook 2021: Times of crisis and opportunity. Paris, France: OECD Publishing. doi:10.1787/75f79015-en.DOI ↗Google Scholar ↗
  18. Paris Agreement to the United Nations Framework Convention on Climate Change. (2015). Treaties and Other International Acts Series. No. 16-1104.Google Scholar ↗
  19. Refinitiv (2021). Power prices surge in Japan. https://www.refinitiv.com/perspectives/market-insights/power-prices-surge-in-japan/Google Scholar ↗
  20. Rădulescu, D., & Pascu, A. (2020). European Union: the European Green Deal Investment Plan. https://www.mondaq.com/economic-analysis/1015114/the-european-green-deal-investment-planGoogle Scholar ↗
  21. Stein, J., Eilperin, J., Laris, M., & Room, T. (2021). White House unveils $2 trillion infrastructure and climate plan, setting up giant battle over size and cost of government. https://www.washingtonpost.com/us-policy/2021/03/31/biden-infrastructure-climate-plan/Google Scholar ↗
  22. JD Supra. (2020). The EU hydrogen strategy - another remarkable step towards creating a hydrogen industry on European-wide level. https://www.jdsupra.com/legalnews/the-eu-hydrogen-strategy-another-62174/Google Scholar ↗
  23. Watson Farley & Williams. (2021). The German hydrogen strategy. https://www.wfw.com/articles/the-german-hydrogen-strategy/#:~:text=In%20June%202020%2C%20Germany%20presented,hydrogen%20strategy%20(NHS)%C2%B9.&text=Finally%2C%20on%201%20January%202021,industrial%20usage%20of%20green%20hydrogeGoogle Scholar ↗
  24. The White House. (2021a). FACT SHEET: The American jobs plan. https://www.whitehouse.gov/briefing-room/statements-releases/2021/03/31/fact-sheet-the-american-jobs-plan/Google Scholar ↗
  25. The White House. (2021b). Leaders Summit on Climate summary of proceedings. https://www.whitehouse.gov/briefing-room/statements-releases/2021/04/23/leaders-summit-on-climate-summary-of-proceedings/Google Scholar ↗
  26. van Soest HL, den Elzen MGJ, van Vuuren DP. (2021). Net-zero emission targets for major emitting countries consistent with the Paris Agreement. Nat Commun 12, 2140Google Scholar ↗
  27. Xi, J. (2020). Statement at the General Debate of the 75th Session of the United Nations General Assembly. https://baijiahao.baidu.com/s?id=1678546728556033497&wfr=spider&for=pcGoogle Scholar ↗
  28. [AEMO] Australian Energy Market Operator. (2016). Update report: Black system event in South Australia on 28 September 2016. https://apo.org.au/node/68445Google Scholar ↗
  29. [CLEW] Clean Energy Wire. (2020). What German households pay for power. https://www.cleanenergywire.org/factsheets/what-german-households-pay-powerGoogle Scholar ↗
  30. [MfE] Ministry for the Environment. (2021). Latest annual inventory of greenhouse gases in New Zealand released. 2021 Apr 13. https://environment.govt.nz/news/latest-annual-inventory-of-greenhouse-gases-in-new-zealand-released-13-april-2021/Google Scholar ↗
  31. [MoEF South Korea] Republic of Korea Ministry of Economy and Finance. (2020). Government releases an English booklet on the Korean New Deal. https://english.moef.go.kr/pc/selectTbPressCenterDtl.do?boardCd=N0001&seq=4948Google Scholar ↗
  32. [ICAP] International Carbon Action Partnership. (2021). Emissions trading worldwide: ICAP status report 2021. Berlin: International Carbon Action Partnership.Google Scholar ↗
  33. [ICPDR] International Commission for the Protection for the Danube River (Austria). (2020). NextGenerationEU: State of the Union address reveals New Green Funds for the EU. https://www.icpdr.org/main/nextgenerationeu-state-union-address-reveals-new-green-funds-euGoogle Scholar ↗
  34. [IEA] International Energy Agency. (2019). World energy outlook 2019 report extract electricity. https://www.iea.org/reports/world-energy-outlook-2019/electricityGoogle Scholar ↗
  35. [IEA] International Energy Agency. (2020). 40 Ministers from around the world gather to address the world’s energy and climate challenges. https://www.iea.org/news/40-ministers-from-around-the-world-gather-to-address-the-world-s-energy-and-climate-challengesGoogle Scholar ↗
  36. [IRENA] International Renewable Energy Agency. (2017). Perspectives for the energy transition: Investment needs for a low-carbon energy system. https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2017/Mar/Perspectives_for_the_Energy_Transition_2017.pdf?la=en&hash=56436956B74DBD22A9C6309ED76E3924A879D0C7Google Scholar ↗
  37. [IRENA] International Renewable Energy Agency. (2021). Renewable power generation costs in 2020. https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2021/Jun/IRENA_Power_Generation_Costs_2020.pdfGoogle Scholar ↗
  38. [State Department] U.S. Department of State. (2021). John Kerry, Special Presidential Envoy for Climate. https://www.state.gov/biographies/john-kerry/Google Scholar ↗
  39. [USTR] The Office of the United States Trade Representative (2021). The President’s 2021 Trade Policy Agenda.Google Scholar ↗
  40. https://ustr.gov/sites/default/files/files/reports/2021/2021%20Trade%20Agenda/Online%20PDF%202021%20Trade%20Policy%20Agenda%20and%202020%20Annual%20Report.pdfGoogle Scholar ↗
Author details
Manqing Cheng
Department of Politics and International Relations, University of Auckland, Auckland 1010, New Zealand.
✉ Corresponding Author
👤 View Profile →