Introduction
As a global society where economic developments are inevitable, environmental hazards are a constant consequence. The basic structure of the economy is based upon production, distribution and consumption of goods. Needless to say, certain manufacturing processes, especially in heavy industries, pose a threat to the the environment and disrupts the balance between the addition and subtraction of carbon oxide from the atmosphere. The greenhouse gases that lead to tremendous and sudden climate changes, have contributed to this disequilibrium as well. A carbon economy bases itself on such production processes which are carbon centric. Such an economy does lead to rapid development but is inherently dangerous to the ecology. Thus, the countries are now moving ahead to reach the goal of Low-Carbon Economy, where renewable resources are an alternative to the high consumption and use of carbon in possibly every mode of development.
Dealing With A High-Carbon Economy
Carbon can be induced into the environment through a plethora of channels owing to an exponential increase in industries, transportation, domestic activities, manufacture of food and related items and the disposal of wastes. Encouraging a greener society is considered to be an exclusive solution to this matter. In 2008, the UK, became the first in the world to set legally binding carbon reduction goals and set the target of becoming carbon neutral by the year 2050, which would neutralise the quantity of carbon in the environment, present in any form. The basis methods through which such an aim can be achieved are as follows:
- Reduction of energy intensity[1]– The infrastructural, structural, industrial and household changes contribute to the change in the intensity of energy consumed in an economy. The industries which require high intensities of energy such as those of chemical, forest products, primary metal induce more carbon and its related compounds into the environment. Whereas, industries such as those of food manufacturing, lead to the fall in energy intensity in the particular sector of economy. Thus, the reduction of energy consumption can lead to a balance in the input of carbon in the environment.
- Cleaner fuels- Cleaner-fuels such as the LPG, natural gas, biogas, biodiesel, ethanol or the renewable diesel are making their way through the economy which is more or less carbon based. These cleaner fuels let out lesser emissions which save the atmospheric air from getting saturated with carbon and its hazards. These are an alternative to coal or coke or carbon-based fuels which disturbs the ecological system. The Clean Fuel Standard ensures the energy sources for transport leads to the harmony between economy and environment.
- Revolutionising of the transport industry- Moving from fuel-based transportation to a completely electricity-based mode of transportation is a difficult goal to achieve. However, to eradicate the environment issues and the exposure of the same to the greenhouse gases emitted by the transports, several countries have taken steps towards the revolutionization of the transport industry. The emissions encourage drastic changes in the climate such as intense global warming, sudden droughts and famines which in turn makes human life miserable. The gases increase the toxicity and harms the living organisms that constitute the ecological system. Thus, a change, that can cope with the environment, is required to sustain the available resources and contribute as alternatives.
- Measures towards sustainable development- The international conventions on environment and environmental law have propagated the concept of sustainable development. The present generation must use the available resources in a way that the future generations are also able to extract the benefits of it. The concept of inter-generational equity is to be encouraged for maintaining an equilibrium between the rapid developments and the environmental needs. Sustainable development is an answer to the grievances that are generated by the current carbon economy. Recent progress in urbanisation and industrialisation has impacted the environment in ways uncountable, thus, measures should be taken to drive the countries into a path towards sustainable development which can secure the environmental resources for the future generation as well.
The above give an account of the ways in which carbon economy can be combated and a way towards carbon neutrality can be paved.
Carbon neutrality- A healthy economy in a healthy environment.
Carbon neutrality refers to a condition in the environment which achieves a net-zero carbon dioxide emission. The environmental issues are a serious concern in the recent times as economic development has an adverse effect exposing the environment to severe hazards. The earlier mentioned components of a low carbon economy, paves way for the achievement of a carbon neutral ambience. Since these factors alone are not sufficient, following are the necessary conditions which substantiate the process towards carbon neutrality:
- Appropriate legislations– Legislation provide a legal clothing to the environment for its betterment. It provides a guard to it by punishing the wrong doer and compensating for the damage caused to the environment. Several underlying doctrines and principles that form the substance of the legislations provide a remedy to the injured and a way for seeking redressal.
- Entrepreneurship- A proper entrepreneurship that can utilise the resources by channelising it in the correct way is required to cope with the conflict between development and environmental risks. Allocation of the resources are to be made in a way that it can be used at the optimum level by not only the present but also the future generations as well. Thus, an entrepreneur has to consider his profits as well as contribute to the environment as it has a social responsibility to do so.
- Climate policies- The requirement for long term investments for materialising the alternatives to fossil fuels which can potentially reduce the carbon dioxide emissions to a great extent. The innovation policies must emphasise more on the public research and development and take into account the public welfare. The co-operation between the local and national government can lead to a harmonised development of roads and transport system, ensuring the bets use of available land. The proper allocation of land and its use in the agricultural sector can improve the situation, leading to better productivity and a remedy to the environmental damage. The high tariffs that are imposed on low carbon technologies should be done away with as they hinder long term investments even further. Finally, the energy that is derived from the fossil fuels should be structured and managed to cut down costs and emission of carbon into the environment in any form.
Conclusion
Low carbon economy leads to carbon neutrality which combats the excess carbon in the economy. The co-operation between the government and the developers and industrialists can cause the reduction of carbon in the environment through the methods mentioned earlier. The legal frameworks of the countries are to be strengthened with legislations which solely deal with environment and related issues, which would compel for measures to be taken in order to maintain a balance in the carbon released into the environment, in any form. Therefore, it is always unwise to build an economy, at the expense of the environment.
[1] Energy efficiency v energy intensity, available at Energy Efficiency vs. Energy Intensity | Department of Energy last seen on 09/09/2021.
YLCC would like to thank Mouboni Banerjee for her valuable inputs in this article.
