The impacts of the current climate crisis are such that “the science tells us we no longer have a choice” but to pursue and achieve net-zero carbon emissions by 2050.
These include deadly wildfires, scorching heatwaves, severe droughts, and record-breaking levels of ocean heat and acidification that fuel typhoons and cyclones with stronger winds and heavier rainfall. Phase 2 eliminates all GHG emissions and gets to Net Zero by 2050, while Phase 3 reduces the concentration of greenhouse gasses in the atmosphere and achieves net negative emissions.
“And it’s not just changing the electricity system, but building a new global energy system with components that we have never built before and at a massive scale. This will need nothing short of collaborative action among various players,” he added. In the global arena, Science Based Targets Initiative reported that 9,015 companies are already taking ambitious climate action, 6,158 of which have science-based targets, while 3,482 have net zero commitments.Lopez said that many governments are now strengthening their climate policies and targets, while more countries are introducing carbon pricing instruments like emissions trading systems, carbon taxes, and carbon trading.
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