Explanator: Net Zero: just patching on emissions or the way to save the planet?

LONDON, Oct 19 (Reuters) – More than 190 countries pledged in 2015 to limit global warming to 1.5 degrees Celsius above pre-industrial levels in a bid to avoid the worst effects of climate change such as droughts, floods and species loss.

Scientists say bringing global carbon dioxide (CO2) emissions to ‘zero net’ by 2050 is the way to reach the central goal of the Paris Agreement, even though it is left to individual states to work out how to achieve it. which they have signed.

Some such as Britain and France have set a net zero target of 2050 in the law, while countless other countries and companies have stated policies targeting a net zero by 2050.

On Tuesday the British government released its Net Zero Strategy, which Prime Minister Boris Johnson said would put the country at the forefront of green economies, forcing competitors like China and Russia to follow suit. Read more

But what does zero net mean and will it put the world on the path to achieving its goals in Paris?

WHAT DOES NET ZERO MEAN?

Net zero does not mean zero emissions, but balancing the remaining greenhouse gas emissions with other actions.

While countries and companies say they will reduce emissions as much as possible, net zero means some sectors are still expected to emit greenhouse gases by 2050.

To compensate for them, emitters rely on projects that reduce emissions elsewhere or on the use of natural solutions or technology to stop emissions from reaching the atmosphere.

Natural solutions include planting trees or restoring land or wetlands, while technical projects include capturing and storing CO2 when it is emitted, or absorbing carbon from the air – all of which have not yet made a difference in climate, as their use remains relatively small in scale.

WILL THE TIV DELIVER T PEMEST AND OFFSET?

Countless voluntary initiatives have emerged offering forestry-based compensation certificates and other nature-based solutions that individuals and corporations can purchase.

Critics say such compensations are a fig leaf for the continued consumption of fossil fuels. They point to the lack of common standards and the difficult grounds to verify that determine the climatic value-added of projects underlying compensated certificates. Read more

An August report from the charity Oxfam said land use just to remove the world’s carbon emissions to reach net zero by 2050 would require new forests at least five times larger than India or more than all agricultural land on the planet. Read more

Proponents say compensation is a useful tool to boost investment in nature conservation as the global economy moves to zero net.

Carbon capture contribution

Typically carbon capture and storage (CCS) refers to types of filters in industrial fumes and projects to store filtered carbon underground, for example in unused oil fields.

Most current CCS projects can decarbonize high-emission industrial processes. They do not absorb any carbon from the atmosphere, but simply prevent the entry of new carbon.

While the technology is proven, the global capacity of CCS is only about 40 million tons of CO2e. Read more

NEGATIVE EMISSIONS?

There is a technology that results in negative emissions, for example direct air capture (DAC) or projects that combine bioenergy with technology to capture and store carbon emissions.

A June report by the Coalition for Negative Emissions (CNE) said the pipeline of emerging projects could remove only about 150 million tonnes of CO2 by 2025, causing only minor damage to global emissions, which reached a record high of 59.1 billion tons in 2020, according to a report by the UN Environment Program.

DETERMINATION OF CARBON ART BUDGET

Greenhouse gases consist not only of CO2, but also gases such as CH4 (methane) and N2O (nitrous oxide), which are often expressed in terms of CO2 equivalents or tCO2e.

In 2019, atmospheric CO2 concentrations were higher than at any time in at least 2 million years and CH4 and N2O concentrations were higher than at any time in at least 800,000 years.

Global CO2 equivalent emissions (CO2e) reached a record 59.1 billion tonnes in 2020, the UN Environment Program report said in April.

Annual emissions should be reduced to 25 billion tonnes of CO2e by 2030 to limit global warming growth to 1.5 degrees Celsius, she said.

The Earth’s surface temperature was already 1.09 degrees Celsius higher in 20112020 than in 18501900.

If the world continues on its current trajectory, growth could be 2 degrees Celsius by 2060 and 2.7 by the end of the centenary, says the Intergovernmental Panel on Climate Change.

NO PA ZERO?

Aside from the many criticisms of firms relying on compensation that has not yet materialized, there is no standardized way to define net zero strategies and emissions reporting, making accountable companies difficult.

Selling high-emission assets – an action that could make a company’s emissions report card look better – makes no difference to the planet’s atmosphere if the buyer continues to operate the asset.

Both countries and companies are also facing increasing pressure to set detailed, mandatory intermediate targets on the road by 2050 to avoid fears that CEOs and political leaders are throwing cans on the road.

The Great Thunberg climate campaign has criticized zero net targets, counting them among the empty promises of world leaders after years of climate talks. Read more

Reporting by Shadia Nasralla and Susanna Twidale; Edited by Alexander Smith and Gareth Jones

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