New Systematic Framework Could Help Realize Emission Reduction Targets
Written by AZoCleantechJun 3 2021
Organizations, such as the Intergovernmental Panel on Climate Change (IPCC), often review the feasibility of climate scenarios but it is not known what drives these feasibility concerns and whether they can actually be accomplished in practice.
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A recent systematic framework could allow researchers to understand the kinds of aspects that need to be improved in the next generation of situations and look for ways to achieve ambitious emission reductions by reinforcing enabling conditions.
Although the IPCC is in the middle of the drafting cycle of the Sixth Assessment Report, the publication of which will begin in the H2 of 2021, there is an ongoing discussion on how to evaluate the feasibility of ambitious climate mitigation situations created through integrated assessment models and to what level they are truly possible in the rea
A new study published in the journal
Science, highlights the opportunity to complement current climate mitigation scenarios with scenarios that capture the interdependence among investors perception of future climate risk, the credibility of climate policies, and the allocation of investments across low- and high-carbon assets in the economy.
Climate mitigation scenarios are key to understanding the transition to a low-carbon economy and inform climate policies. These scenarios are also important for financial investors to assess the risk of missing out on the transition or making the transition happen too late and in a disorderly fashion. In this respect, the scenarios developed by the platform of financial authorities known as the Network for Greening the Financial System (NGFS) - a platform of over 80 financial authorities around the globe who take an active interest in advancing the transition toward a sustainable world economy - have been a major step to provide investors wi