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Home Environment

A Busy Week in Climate Change Policy

byInstitute for Economics & Peace
May 5, 2021
in Environment
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Countries from all over the world are pledging new and ambitious climate change plans.

It’s been an eventful week for climate change policy watchers. Not only did US President Biden relaunch US leadership on the issue with the Climate Change Summit, but new green policies and national carbon emissions targets are on the table in various countries. This week, environment advocates also celebrated Earth Day to draw attention to some of the most pressing issues facing the planet including global warming, plastic pollution, and more. Amidst the flurry of climate change policies taking shape this week, the International Energy Agency said that as the post-COVID-19 recovery begins to take hold the world should expect a surge in CO2 emissions. Here’s a short recap of notable recent events.

New Zealand

In a world first, New Zealand has introduced a bill that will require the financial industry to report the impact of climate change and explain how they will manage climate change-related risks. Around 200 organisations in New Zealand including banks, insurers, investment managers with more than NZ$1 billion in total assets would be required to make climate-related risk disclosures. “We simply cannot get to net-zero carbon emissions by 2050 unless the financial sector knows what impact their investments are having on the climate,” said James Shaw, the country’s climate change minister.

Climate change protest
In the Photo: Climate change protesters. Photo Credits: Callum Shaw, Unsplash.

France

In an attempt to lower carbon emissions, French lawmakers have voted to ban short domestic flights where train alternatives exist. The proposed law would end routes where the same journey could be made by train in under two-and-a-half hours. Criticism is mounting from a growing swell of protestors who say that the law and the broader climate change bill of which it forms a part of is weak and won’t help France meet its pledge to cut carbon emissions of 40% of 1990 levels by 2030.

United Kingdom

The UK Government has set an ambitious new national target to cut carbon emissions by 78% by 2035. Expected to be set into law, the announcement brings forward the UK’s current target by 15 years and would be a world-leading position. Meeting the new target would require more electric cars, low-carbon heating, renewable energy, and even reducing meat and dairy intake. Reports say the announcement is intended to encourage other governments to make more ambitious pledges ahead of the UN talk  at COP26, which will be hosted in the UK city of Glasgow this November. “The UK will be home to pioneering businesses, new technologies, and green innovation as we make progress to net-zero emissions, laying the foundations for decades of economic growth in a way that creates thousands of jobs,” said UK Prime Minister Boris Johnson.


Related Articles: 6 Words to Describe the US Pledge to Reduce Emissions 50-52% by 2030 | Can the New US and EU Climate Goals Save the World?

European Union

European Union negotiators have made a deal on the European Climate Law that will make the bloc’s climate change goals legally binding for the first time. With a target of reducing net greenhouse gas emissions by 55% by 2030, compared with 1990 levels, and zero net emissions by 2050, the European Climate Law will include new rules to reinforce carbon pricing mechanisms, encourage energy savings, increase renewable energy production, and sustainable transport. Climate activists say the agreement was rushed to provide the EU with an agenda at US President Biden’s Climate Change Summit and falls short of the 65% emissions cut required by 2030, a target that scientists support.

— —

About the author: The article has been written by the Vision of Humanity Editorial staff  – brought to you by the Institute for Economics & Peace (IEP). The IEP investigates the impact of COVID-19 and future trends in economics, politics, social dynamics, conflict and development.


Editor’s Note: The opinions expressed here by Impakter.com columnists or contributors are their own, not those of Impakter.com. — In the Featured Photo: Person holding a poster saying “there is no planet B”, San Francisco, California, United States. Featured Photo Credit: Li-Am Lim, Unsplash. 

Tags: Carbon EmissionsClimate Changeclimate change summitgreen policiesnational pledges
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Institute for Economics & Peace

Institute for Economics & Peace

The Institute for Economics and Peace is the world’s leading think tank dedicated to developing metrics to analyse peace and to quantify its economic value. It does this by developing global and national indices, calculating the economic cost of violence, analysing country level risk and understanding positive peace. The research is used extensively by governments, academic institutions, think tanks, non-governmental organisations and by intergovernmental institutions such as the OECD, The Commonwealth Secretariat, the World Bank and the United Nations. The Institute was recently ranked in the top 15 most impactful think tanks in the world on the Global Go To Think Tank Index. Founded by IT entrepreneur and philanthropist Steve Killelea in 2007, the Institute for Economics and Peace is impacting traditional thinking on matters of security, defence, terrorism and development.

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