Climate Change
Last updated
Last updated
The world emits roughly 51 billion tons of greenhouse gas emissions per year. Most parts of our economy create emissions, including manufacturing (31%), energy production (27%), agriculture and land use (19%), and transportation (16%). Scientific experts from United Nations agencies estimate that even if all nations implement their pledges to reduce carbon emissions, this scale of output puts the world on track for a 1.8° Celsius (C) warming, above the 1.5 °C target set by the Paris Agreement entered into force in 2016.
The global movement to decarbonize the economy is gaining momentum. Almost every country has endorsed the Paris Agreement and many for-profit companies have set targets to achieve net zero emissions. But a unified strategy on how to achieve these aspirational targets does not exist at either a country or a company level. Decarbonization will require a massive reduction in our emissions, and some segments of the economy have an existing strategy.
For example, efforts are underway to replace electricity generation based on fossil fuels with alternatives such as solar and wind. By contrast, companies in some industries, including cement, steel, plastic production and aviation, will find it hard to reduce their carbon emissions substantially. They will require offsets to counteract their output. There are simply no alternative technologies available today that are low in carbon output and economically feasible.
In order to meet and exceed targets to reduce carbon emissions, governments, business and individuals must begin the journey as soon as possible. Greenearth.Finance seeks to be their guide. We will build our solution on top of the three key pillars:
Carbon Accounting and Management
Carbon Credits
Carbon Exchange
1 Source: Rhodium Group as of 2020, as referenced in How to Avoid a Climate Disaster, by Bill Gates, February 16, 2021.
2 Source: International Energy Agency, November 6, 2021.