While major countries have come together to sign The Paris Agreement, it is imperative to enforce commitments with the grassroots implementation of policies, laws, and new initiatives that encourage companies to hold companies accountable for decarbonization.
Decarbonizing the world is possible
The latest studies and experts have said that it is possible to sustain our needs without fossil fuels, but this will require a shift in policies and priorities.
Decarbonization needs to be put in control with new policies and targets set by the government. Cities are starting to feel the effects, with some areas experiencing more extreme weather conditions than ever before and rainfall patterns changing.
To decarbonize, we must invest in renewable energy sources and efficient infrastructure so that the world can be powered without fossil fuels. World leaders have come forward with full admission that governments can reduce their country’s carbon footprint drastically.
The Biden government has set the 2030 Greenhouse Gas Pollution Reduction Target goals, intending to reduce reliance on fossil fuels to promote decarbonization, increase employability, and incentivize innovation and development of green energy sources. Similarly, the Dutch government plans to cut down their emissions by a whopping 95% by 2050 compared to their emissions recorded in 1990. Many other leaders are coming forward with promises that increasingly promise the future of new
The Government’s Impact on Carbon Emissions
It is crucial because high-carbon industries such as mining rely heavily on government subsidies, while low-carbon sectors such as agriculture receive little or no support. It means that governments have the power to influence where our economy goes by choosing who they want it invested into – investing more money into specific companies would help them thrive while also reducing emissions from other sectors of society.
For example, if oil spills offshore, all work done offshore would be decarbonized. The government could take this opportunity to make new policies that would stop all offshore work and instead invest in renewable energy sources, making them the language of our economy.
The problem is that most governments are reluctant to set any targets for themselves because it can have a significant impact on their GDPs – if they want Canada’s emissions cut by 2050. There will need to be economic consequences and ecological benefits.
A better alternative is that governments should develop strategies that focus on promoting decarbonization from different sectors over time. These strategies must include specific targets, so we know what success looks like at the end of the day, which means strong leadership with real goals must come together before anything else.
Hence, it is evident that any climate-conscious government in the world can prioritize ecological restoration in the short term to give way to technologies that can harness clean energy sources that are on an exponential rise.
Carbon Taxes – Do they work?
Carbon taxes were introduced as a way to attach economic importance to the goal of promoting decarbonization for big corporations. The idea behind this concept is that making carbon emissions more expensive will incentivize companies to reduce their levels of CO². The carbon tax is a controversial issue that has no clear-cut solution.
It will always have the potential to increase costs and cause new environmental problems. Still, it can also help cut down on climate change if used adequately by raising prices for goods or services that emit high emissions into the atmosphere.
However, taxation is that for taxes to be effective, they need extensive people and organizations on board to make a difference. Yet countries like Australia see some success with implementing a Carbon Tax policy since both energy markets and consumer behavior can shift towards decarbonized models when there’s enough incentive.
It has proven true even though other corporations outside of Australia haven’t been doing so well with these new policies introduced by the government. So while we don’t know how long-term effects would pan out if other governments were following suit, we can say that the Australian government has undoubtedly put decarbonization in control.
However, this doesn’t mean it’s all smooth sailing from here for the environment or businesses. It seems there are a couple of issues with Carbon Tax policies not yet solved – such as tax revenue going to projects like coal mines and gas fields instead of green initiatives, which ends up creating more emissions than before due to increased demand on these industries while also putting jobs at risk.
It is why some experts believe governments should set better policies so they’re able to target places where decarbonized energy sources would work well; whereas if left unsupervised, markets will continue their investment into outdated infrastructures without any change being seen we could see no difference in the long run. The government could set these new policies like an environmental tax on natural resource extraction or a carbon rationing system where consumers have to buy and trade their permits with each other.
Policy-Based Suggestions
Government should set new policies that will be able to decarbonize energy sources in places they can work well.
For example, one of these policies could be an environmental tax on natural resources extraction, which would generate revenue for green initiatives while also increasing jobs for renewable industries (overturning coal mines and gas fields).
Another idea is setting quotas based on how much people consume. This type of policy would allow individuals to invest in more efficient methods. Positive rewards for companies can be a way of doing wonders. With climate change becoming a hot topic over social media every day, companies are constantly coming under fire for their unsustainable practices. Many companies have faced backlash over social media, leading to a fall in their stock prices. Hence, an additional nudge from the government can make the companies need to make one-time investments of moving to sustainable energy resources.
Increasing accessibility of competent alternatives is the way to go
While discouraging using fossil fuels, we must incentivize using sources like solar power by introducing subsidies on materials that promise technological advancement and promote decarbonization.
For example, Boron is one such material that can promise better efficiency in all areas of sustainable energy. Boron has been helpful in the development of clean energy sources in many ways –
- Borosilicate glass is used to concentrate and capture solar energy.
- Borates are the backbone of the wind turbine industry. This mineral is used in borosilicate fiberglass, which includes turbines and generators that make up modern-day wind power plants.
- Borates are an essential ingredient in the control and safety of nuclear-pressurized water reactors. They can capture neutrons resulting from uranium fission, which is a crucial feature in controlling these systems.
Moreover, Boron is currently undergoing R&D to produce clean fuels regarding Boron-Hydrogen fusion and many more techniques. Hence, subsidizing products like Boron would benefit the scientific community and cause more affordable, accessible, and efficient fuel consumption.
Investing in renewable energy
It’s not just about the environment. The Government needs to invest in renewables because it will provide the sector with a financial boost. Investing in green technology can help create jobs; however, private investors are unable to realize social benefits from these investments due to government subsidies given towards oil companies’ products while they struggle with losses themselves since prices fluctuate so often without warning – making them too risky for business owners who need steady revenue streams. Only the government can fix the situation by stepping in to bridge the distance and provide a much-needed boost to renewable energy.
Takeaways
Government has a lot to gain from investing in decarbonization. Many problems exist today that only be fixed with their intervention to moderate the energy practices of corporations. Even the most pro-business politicians would agree that government intervention is needed to make decarbonization happen, and without it, there will be a lot of people who suffer. This issue needs more attention from our leaders as we are nearing the point where fossil fuels will no longer provide energy for everyone on Earth – something which can’t come at a worse time considering how close we are to fighting climate change once and for all.
