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International carbon transition debates to intensify

Friday, July 26, 2019

Subject

Carbon transitions.

Significance

The EU in May failed to reach an agreement on how to achieve a long-term strategy on reducing carbon emissions. One of the issues underlying the persistent differences among member states was the question of how to achieve a ‘just transition’. This is becoming an increasingly significant element of national and international debates on tackling climate change.

Impacts

  • The International Labour Organisation believes a transition limiting heat rises to 2 degrees by 2030 would create 24 million jobs globally.
  • Global coal production may stabilise as reductions in developed economies are offset by increases in Asia.
  • The UK Treasury estimates that achieving carbon neutrality by 2050 will cost 1 trillion pounds (1.26 trillion dollars).
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