In this article, CorpIndiaNews helps you get your perspective together with six remedies that can save us from the climate apocalypse.
Economists have come to identify that to grow sustainably in current times, simultaneously managing the growing urgency of climate change and environmental degradation is crucial.
Scientists and economists agree on the potential threat of heightened health and social inequalities against poverty with depleting natural resources. Due to rising poverty, governments should understand that these factors will also undermine resilience to future catastrophes.
With the planet expected to warm up by 2.7 degrees C rise globally by the end of this century, countries must act responsibly and diligently toward the environmental upgrade. Otherwise, be prepared to face the consequences of conscious negligence of CO2 emissions due to hyper-industrialization.
Violating the 1.5-degree agreement target may significantly impact global economic value by 10% by 2050, making for a humble opportunity to politely remind the industrial and governmental bodies of the pledges made before the COP26 summit in Glasgow. Countries may have raised their ambitions, but according to the International Energy Agency (IEA), significant gaps remain unnoticed in the latest pledges taken toward needed emissions reduction to keep the target cool down by 1.5 degrees C within reach.
The scale of action cannot be taken for granted. It may require a fundamental transformation of all sectors, including Power and Energy, Manufacturing, Logistics, Infrastructure, Agriculture, Forestry and Land utility. So don’t let them call you radical when you invest in rethinking how to produce and consume food and fuel and waste management when it’s the need of the hour globally.
Environmental scientists and activists cannot solve the problem alone, which puts the onus on the government to lead and increase the awareness outreach. Some countries, such as Uruguay and Finland, have enshrined in their law to achieve net-zero carbon emissions by 2030 and 2050, respectively. While the EU set binding targets to cut emissions by 55% by 2030 by introducing the EU Green Deal and Climate to achieve climate neutrality by 2050, two of the largest emitters, China and the US, have committed to achieving carbon neutrality by 2050, 2060 respectively.
The actions governments take now could set the world on a path to a more sustainable future that balances environmental, economic and social outcomes. But the clock is ticking, and rapid progress demands priorities:
Six government priorities for accelerating the green transition
1. Provide detailed action plans with clear accountability
Another critical thing to remember is the role of local and regional government in the implementation and execution of policy in order to deliver green initiatives in semi-rural to rural spaces. For example, housing retrofits and creating EV infrastructure largely depend on the local governments, and involving them in the process can deliver pilot projects before scaling up nationally. However, global research from the Climate Group shows only 21% of 121 states and regions surveyed had been consulted on national climate action plans.
2. Be bolder in incentivising the market and mandating change
For a radical improvement in the climate, citizens and government need to think alike in order to overcome barriers created out of the opposition. Collective work is always admirable and agreeable to making ambitious policies that prioritise climate action beyond promises. Governments can overcome opposition and build cross-sector support through a strong political will. The government should not hesitate to mandate policies such as incentives and penalties for businesses to align investments and economic activities with climate goals. For example, they are penalising carbon emissions, subsidising fossil fuel industries, implementing carbon taxes and emissions trading to set a bright example of capturing the social value of the natural resources used in their production and making cost-effective renewable. In addition, implying conditions of carbon taxes can also help to benefit the government with revenues.
3. Boost innovation through increased funding
With a range of policy instruments at the government’s disposal, to meet the climate goals, it must accelerate public and private investment in new infrastructure and new technologies, including development and early-stage projects.
To target funding more effectively, a mission-driven approach to public sector research and innovation can help the government reach specific objectives. The government must keep their bias aside and bring together researchers, scientists, activists, and climate experts to advise rather than putting the winners and the biggies on the pedestal to get an accurate understanding of research and technologies that can be used for development and potential development technologies to research. Moreover, continuous monitoring and evaluation of pilot projects should swiftly identify projects that can either be scaled up or withdrawn with the help of this approach.
4. Improve the design and delivery of green initiatives
In order to avoid the risk of failure, the government must carefully consider and select necessary design and implementation of green initiatives. A clear vision, realistic timescales, appropriate funding and a supportive regulatory environment may translate the desired outcome successfully. However, there are other critical dependencies and barriers to change such as having the right resources to deliver considering workforce skills and supply chain capacity.
To consider the broader context, it is crucial to adopt a whole systems approach based on cross-government and cross-sector coordination. In order to understand the complex factors; those affect the outcome, including constraints or pressures in the system, and develop solutions to mitigate problems, the government must consider providing means to identify essential synergies, interdependencies and trade-offs between green strategies and other policy priorities.
5. Act as a role model for other parts of the economy
It is safe to say that one of the most significant contributors to climate change is the public sector. To set a higher benchmark, the government must compel departments to emphasise identifying and mitigating the environmental impacts of their activities. We believe in having a dramatic impact, the government must reform public procurement by setting strict green criteria for contracts to improve their carbon footprint and their sustainable consumption.
To put things in perspective, the environmental impact of government spending should be highlighted in the sustainability report, like the municipality of Herning in Denmark. It voluntarily released ‘green’ accounts, which include procurement, recycling and waste, nature and green areas, municipal properties, private construction, logistics, and energy consumption since 2012.
6. Promote a whole-of-society and people-centred approach
The ever-growing challenge of climate change calls for a united collaboration from every individual and organisation across society. To set an example, in 2013, the Energy Agreement for Sustainable Growth in the Netherlands brought the government, industry, trade unions, and the third sector together to reshape the nation’s climate policies and laws, which resulted in the country making one of its kind climate commitment in 2018. The commitments were worked out by labour unions, NGOs, business associations and local authorities to confirm targets. So yes, India can achieve these goals, provided the gargantuan efforts required, harnessing scarce resources and making the most efficient use of finite funding.
Studying and adapting the efforts of others can shorten the learning curve. We hope these 6 examples in this report can serve as valuable lessons on how to overcome significant obstacles before driving the green transition. All the best!
