BAKU, Azerbaijan, Jan.11
By Leman Zeynalova – Trend:
Given the complexities of technological, economic and societal change at this scale, and the insufficient nature of current commitments, it is likely that any transition that achieves the net zero goal by 2050 will be disorderly, Trend reports with reference to the World Economic Forum (WEF).
WEF says in its Global Risks Report 2022 that while COVID-19 lockdowns saw a global dip in greenhouse gas (GHG) emissions, upward trajectories soon resumed: the GHG emission rate rose faster in 2020 than the average over the last decade.
“Countries continuing down the path of reliance on carbon-intensive sectors risk losing competitive advantage through a higher cost of carbon, reduced resilience, failure to keep up with technological innovation and limited leverage in trade agreements. Yet shifting away from carbon-intense industries, which currently employ millions of workers, will trigger economic volatility, deepen unemployment and increase societal and geopolitical tensions,” says the report.
Adopting hasty environmental policies will also have unintended consequences for nature—there are still many unknown risks from deploying untested biotechnical and geoengineering technologies—while lack of public support for land use transitions or new pricing schemes will create political complications that further slow action, according to WEF.
The report notes that a transition that fails to account for societal implications will exacerbate inequalities within and between countries, heightening geopolitical frictions.
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