The UN climate conference known as COP27 will convene in Sharm el-Sheikh, Egypt on 6 November 2022. It is taking place at a junction of unprecedented global challenges. The world economy is in turmoil, facing multiple, mutually reinforcing crises.
The UN climate conference known as COP27 will convene in Sharm el-Sheikh, Egypt on 6 November 2022. It is taking place at a junction of unprecedented global challenges. The world economy is in turmoil, facing multiple, mutually reinforcing crises.
For the first time since its assessment began more than 30 years ago, the UN Human Development Report has warned that human development measures have declined across most developing countries in Asia and Africa in the past 2 years. COP27 must take real action to stave off the worst effects of climate change.
Problematic actions are the heavy burning of fossil fuels by the top-five carbon emitters: China, the United States, India, the Russian Federation, and Japan, as well as the Association of Southeast Asian Nations and the European Union, taken together as economic blocs. One way would be for COP27 to name the countries or regional blocs that are most out of line with the Paris climate agreement and ask them to do more either individually or in cooperation with others.
Reaching a net zero economy by 2050 is the absolute minimum for all major emitters. A recent study by the Economic Research Institute for ASEAN and East Asia tells us that the goal is feasible for ASEAN and East Asia. They can decouple economic growth from carbon dioxide emissions and generate new green jobs, but these require bold policy innovations such as carbon tax and market-based instruments such as emission trading systems .
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