Published on : Jun 10, 2015
The G7 nations are at a summit in Germany this week and are strongly promoting climate-enhancing action. They are declaring that decarbonizing of global economy is needed during this century.
The G7 nations are backing cut in global emissions of 40 to 70% by the year 2050 that has been endorsed by the IPCC, Intergovernmental Panel on Climate Change. Low carbon emissions need to be cut down by the middle of this century, which is much earlier for climate improvements.
Low carbon energy systems can be achieved in clearly defined ways. The first essential step is for nations is to improve energy productivity which is below par in most economies. The next action should be to replace coal and gas with nuclear power and renewable energy. The third step is to move away from direct fuel use to decarbonized electricity use.
Since globally there is heavy dependency on fossil fuels, with coal and oil at 30% and gas at 20% the transitioning to carbon-free energy is not easy. The goal can be achieved in smart ways by phasing out coal power stations with renewable energy sources. It is a fact that carbon based infrastructure will end someday so there is a need to build cleaner energy supplies.
G7 nations are the most vociferous about climate change action and these countries are U.S. Canada, U.K. Germany, Italy, France, and Japan. Low-carbon industry is a huge business opportunity with great global benefits. Among the emerging nations China wants to decrease fossil fuel dependency. Economists are beginning to be aware of the benefits of low carbon emission transition. G7 nations are discussing the options of financing developing nations for energy saving action.