What is NET-ZERO?
Net-zero refers to the balance between the amount of greenhouse gases (GHG) emitted into the atmosphere and the amount removed from it. It represents an ideal state in which the amount of emitted gases equals the amount of removed gases. The term net-zero is crucial because it signifies the point at which global warming stops, at least in terms of CO₂ emissions.
Achieving a balance between emitted and removed gases requires taking various measures to reduce emissions or increase their removal, such as afforestation or the use of renewable energy sources.
Why is net-zero so important?
The global race to remove carbon dioxide and other greenhouse gases from our atmosphere is underway. The risks we are taking are enormous, as human-caused emissions are taking a catastrophic toll on our planet and pushing us further into an irreversible climate crisis.
The world’s leading governments, scientists, and industry leaders agree that urgent action is needed to prevent further global warming. The general consensus is that the world must limit the average global temperature rise to 1.5°C, roughly halving CO₂ emissions by 2030 and achieving net-zero by 2050.
Undeniable evidence shows that our planet has warmed, with global average temperatures now 1.2°C higher than in the pre-industrial era. We experience the effects of gradual warming daily, including extreme weather events such as heatwaves, floods, and severe storms, as well as the loss of polar ice and rising sea levels. Global temperatures are on track to increase by as much as 2.7°C by 2100, which could make parts of the planet entirely uninhabitable.
Under the 2015 Paris Agreement, signatory countries agreed that global warming must be limited to well below 2°C, ideally not exceeding 1.5°C above pre-industrial levels. To achieve this, significant reductions in greenhouse gas emissions, particularly CO₂, will be necessary in the coming years. By ensuring that the amount of greenhouse gas emissions released into the atmosphere is equal to the amount removed, we can significantly reduce the harmful emissions contributing to global warming.
The Glasgow Climate Pact, established at the 2021 UN Climate Change Conference (COP26), reaffirmed that achieving net-zero emissions by 2050 is essential to keeping global temperature rise at 1.5°C. All participating countries committed to adhering to this target.
What does net-zero look like in practice?
The Paris Agreement established a framework for all countries to outline their emission reduction plans. These are known as Nationally Determined Contributions (NDCs), in which many governments have set net-zero targets.
Some of these NDCs have been incorporated into legislation. For example, in 2019, the United Kingdom became the first major economy to set a legally binding net-zero target by 2050.
Governments are also setting targets and regulations for the public and private sectors that they must follow. Expectations are rising for large companies to establish such targets, develop plans, and publicly disclose information about their progress.
Investing in and using renewable energy sources will contribute significantly to reducing global greenhouse gas emissions from heating and electricity production.
However, reaching net-zero does not depend solely on reducing greenhouse gas emissions but also on removing CO₂ from our atmosphere. Carbon sequestration options under consideration include both technological and biological solutions, where carbon dioxide is captured from the Earth’s atmosphere and stored. This includes measures to preserve oceans (as they absorb more carbon from the atmosphere than they release), afforestation, and geological carbon storage (CCS).
Will net-zero be achieved by 2050?
Current global policies do not put us on the right path to limiting warming to 1.5°C.
Globally, about 90% of emissions are now covered by net-zero targets. Many countries have also set short-term goals, such as:
The UK government has legally mandated a 78% reduction in emissions by 2035 compared to 1990 levels.
The U.S. has committed to reducing emissions by 50-52% by 2030 compared to 2010 levels.
These are important signals, but not all targets are legally binding, and there is a significant lack of short-term policies to ensure these goals are met.
The latest reports from the Intergovernmental Panel on Climate Change (IPCC) have made it clear that time is running out, but there is still a limited window to implement policies and take action this decade to avoid the worst consequences of climate change. It is still possible for the world to achieve net-zero and limit warming to 1.5°C, but much more action is needed from governments, businesses, and others to make it happen.
Author: Aleksandar Sajic, Attorney
E-mail: [email protected]
