China, US and EU will occupy more than 90% carbon space by 2050: study – Community News
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China, US and EU will occupy more than 90% carbon space by 2050: study

NEW DELHI: China, the US and the European Union (EU) are likely to occupy more than 90 percent of the available 1.5 degrees Celsius carbon space by 2050, according to an independent study by the Council on Energy, Environment and Water (CEEW) .

“This would leave little room for developing countries like India to grow their economies in the coming decades. In addition, the three major emitters would consume 45 percent of the available carbon space by 2030. India, on the other hand, would emit 59 cents less per year than China, 58 percent less than the US and 49 percent less than the EU, from 1850 to 2100, on a cumulative basis, despite going net zero two decades later than the US and the EU and ten years later than China,” said the CEEW- analysis that took into account the existing net zero commitments of these countries.

This takes on significance as net zero targets and targets are much discussed at the ongoing COP26 in Glasgow. India has announced it will reach net-zero by 2070, even as the COP president aims for 2050 as a global net-zero target. Developing countries continue to demand climate justice, increased climate finance and additional financial support for loss and damage during the ongoing climate negotiations, while rich countries lack ambition or funding.

The study “The Carbon Space Implications of Net Negative Targets,” released Tuesday, also estimates that the net zero commitments of the 10 major issuers are inadequate, exceeding the 1.5 degree Celsius carbon space by 33 percent by 2050.” Therefore, the US, China and the EU should consider pushing their respective net zero years forward by a decade and aim to become net negative by 2050. This would help keep global warming within 1.5 degrees. Celsius carbon budget threshold proposed by the recently released Intergovernmental Panel on Climate Change (IPCC) report,” the CEEW said.

CEO, CEEW, Dr. Arunabha Ghosh said: “CEEW’s analysis shows that the current zero commitments from China, the US and the EU are largely insufficient to keep the 1.5 degrees Celsius target alive while meeting the climate justice targets. These countries, in particular, should bend their emissions curves faster and announce more ambitious targets for 2030, along with achieving net negative emissions by 2050. This would ensure that planetary boundaries are not crossed and emerging economies in Asia, Africa and Latin America step up. time to achieve a just and sustainable low-carbon transition.”

The CEEW report also highlights that 81 Gt of CO2 of carbon space could be available to developing countries if China advances its net zero year to 2050 and peaks by 2025. If the US and the EU were ten years ahead of their current targets, the released carbon space would be 14.5 GtCO2 and 18.4 GtCO2 respectively. An additional 202 GtCO2 of carbon space could be available to developing countries if these three countries also manage to capture their CO2 emissions between 2050 and 2100.

Fellow, CEEW, Dr. Vaibhav Chaturvedi said: “The world cannot avoid historical emissions now, but the future course of action must change. The US, the EU and China all need to do much more. The massiveness of China’s future emissions must decrease in. There is nothing in it. China’s net-zero promise could be celebrated as emissions after 2020 alone would raise global temperatures by nearly 0.33 degrees Celsius.”

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