Climate change is one of the major challenges of the current world. The 2015 Paris Agreement provided conclusive evidence about the rise in global temperatures and the need to counter it with a sense of urgency. While 195 countries signed the agreement, the world now awaits action from industries, businesses, and governments across the world to make net-zero emissions a reality.
A low-carbon or decarbonized economy would require the development of long-term plans and timely execution of the set strategies to avert the adverse impacts of climate change. A robust decarbonization strategy would focus on changing how we live, work, and develop. This article focuses on the 3 simple steps that can help achieve a decarbonized economy.
Assessing the Future
While inaction is the most dangerous strategy of all, planning only to achieve short-term milestones is equally redundant. Long-term planning can help governments and businesses lay the foundation for future developments. A future-proof strategy would allow businesses to refrain from any form of investment of development that would be deemed obsolete in a carbon-neutral future.
The decisions pertaining to public transportation in developing cities would include investments in technology and research that would skyrocket in the near future.
An intricately laid out future plan to support the idea of a decarbonized economy would enunciate the following parameters:
- Decarbonizing electricity by transitioning from fossil fuels to clean energy
- Investments in technology that improve energy efficiency and reduce the demand for fossil-based sources
- Constructing policies and regulatory frameworks that curb carbon emissions and increase access to clean energy
- Maintaining the natural carbon sinks with the help of better land and forest management to absorb and store carbon emissions
- Development of robust carbon cost abatement strategies and adopting low carbon processes across the value chain
Shaping Mindsets Towards Carbon Neutrality
Another step towards a decarbonized economy would require governments to transform mindsets and investments favouring a zero-carbon future. This can be duly achieved by getting the pricing right and offering incentives to ensure the implementation of low-carbon plans. Furthermore, governments can ease capital acquirement for zero-carbon projects and levy carbon taxes to increase the stake for industries and businesses failing to adhere to the new norms.
Merely putting the right price on carbon might not be a complete method to shape a no carbon mindset on a broader level. The pricing can be coupled with encouraging incentives for businesses that deploy green technologies in their value chain. This can take the form of rebates on e-vehicles, energy efficiency standards, and requiring electricity producers to turn to renewable sources to fulfil their power requirements.
Policies can also be devised to reduce the pricing of low-carbon products such as lightbulbs and solar panels.
Facilitating a Smooth Transition
The transition to low carbon or a decarbonized economy by mid-century would necessitate contributions from individuals and developments in support of those adversely affected by climate change. Eliminating fossil-fuel subsidies, levying carbon tax, and assisting organizations in innovating and re-innovating their operations for a zero-carbon world would facilitate a seamless transition.
Collaborating With a Sustainable Organization
Establishing a healthy collaboration with an organization that specializes in energy management and automation can expedite the movement towards a decarbonized economy. Sustainable organizations can significantly enhance energy efficiency and integrate state-of-the-art technologies to leverage every available opportunity to reduce carbon emissions.
Digitization has become one of the most prominent catalysts in the transition to clean energy. Effective collaboration with a digital partner can drive digital transformation and enable companies to realize the full potential of every opportunity.