New policy breakthroughs have the potential to unlock progress in the effort to slow and reverse warming temperatures. | News24_Business
As the world battled weather extremes linked to climate change, policy responses were mixed.Historic decisions were made at the UN climate and biodiversity conferences.The damage caused by climate change over this past year was at times so immense it was hard to comprehend. In Pakistan alone, extreme summer flooding killed thousands, displaced millions and caused over $40 billion in losses.
In fact, it's all too easy to overlook the steps toward a lower-carbon world that came about in between more attention-getting catastrophes.As 2022 unfolded, a clear pathway of climate hope emerged. New policy breakthroughs have the potential to unlock enormous progress in the effort to slow and reverse warming temperatures.
Once it take effect, there will be additional costs imposed on imported goods from countries without the EU's restrictions on planet-warming pollution.A separate milestone from 2022 saw the biggest overhaul of the EU carbon market that will extend it to road transport, shipping and heating. This expansion of the policy will also accelerate the pace at which companies — from energy producers to steelmakers — are required to reduce pollution.
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