The G7 mentions that countries with major economies need to go net zero by 2050 to deal with the climate crisis.
In their recent meeting in Hiroshima, Japan mentioned the countries with major economies, without specifying the names of the countries, that need to go net-zero carbon emissions by 2050. In the list of these major economies, India, with a net zero emission target by 2070, China, Russia, and Saudi Arabia, with a targeted year of 2060, are the prominent ones. These are the countries that have a hope of turning net zero in the upcoming decade, but none of them can take this step by 2050.
Net zero emission
The idea of “Net Zero” refers to the state of a country where the carbon emission done by the country into the environment is nullified through outsourcing the carbon from the atmosphere by the use of modern, futuristic techniques and also by adopting and enhancing the green cover of the country.
The idea of Net Zero” emerged during the Conference of Parties (COP) 27 in Egypt’s Sharm el-Sheikh in the year 2022. Countries provided the world with the promise of reducing carbon emissions by 2025 and going net zero as per the convenience of the global economies.
Snippets from the meeting
The G7 countries also discussed the funding issue that has been raised by the developing countries. As these nations have demanded a stable and sustainable supply of finance that can assist them in achieving the idea of Net Zero through the introduction of modern technology needed for the same, They ask for a collaboration to raise USD 100 billion, which needs to be provided as finance between the years 2020 and 2025.
The meeting also discussed the global energy crisis going on due to the Russian-Ukraine crisis. The countries asked to go with liquefied natural gas (LNG) to provide an alternative and reduce dependence on Russia for fuel purposes. They mentioned it will not only help them tackle the present energy crisis going on but will also assist in tackling the situation of gas pricing as well as inflation, which is present in the present scenario.
The above idea has been criticized by the head of the Global Political State Group Climate Action Network International, Harjeet Singh. He mentions the “hypocrisy” of developed nations towards their idea of having a net zero. He mentions “The idea of investing in gas resources shows a blizzard political disconnect from the science and complete disregard for the climate emergency”. He questions the ability and leadership of the countries involved in the meeting that decided to uphold such a double standard.
Major economies and major emissions
India and China are the countries that are included in the “major economies” as mentioned by the G7 leaders. As they both have different timelines for achieving the target of net zero emissions to their atmosphere. Looking towards statistics and reports, as per the “Global Carbon Budget Report 2022,” more than half of the world’s CO2 in 2021 will come from these 3 major places: China has an emission of 31% carbon dioxide, followed by the U.S.A. with 14%, and the European Union with a total emission of only 8%. These statistics are enough to highlight the carbon emissions of one of the major economies.
The United Nations Environment Programme (UNEP) highlights India’s per capita greenhouse gas emissions, which stand at 2.4 tCO2e (tonnes of carbon dioxide emission equivalent) with a global average of 6.3 tCO2e.
The above figures are enough to demonstrate the dire need for affordable, available, and accessible means and measures to tackle the present climate crisis and achieve the target of net zero carbon emissions.