| Popis: |
In the current time the climate change risk has continued to intensify such that sustainability of the world is difficult, hence urgent emission mitigation actions. An in-depth analysis of GHG emission reduction policies is provided in this paper, with a focus on strategies involving technology, policy, society, and the economy. Regulations play a significant role in reducing the amount of carbon in the atmosphere, which gives a framework for the development of incentives for all sectors. The social cost of carbon is internalized by carbon pricing strategies like carbon taxes and cap-and-trade programs, which promote businesses to invest in greener practices and technological advances. Based on market structures, standards for energy efficiency and mandates for emissions targets may act as catalysts for changes in the market that push towards such low-carbon options. If a significant reduction in greenhouse gas emissions from major economic sectors like agriculture, industry, transportation, or energy is to be achieved, technological advancement will continue to be crucial. Consequently, renewables including solar power wind turbine systems and hydroelectricity plus others replaced fossil fuelled-based sources thereby reducing emission in generation of electrical power. Further, this is to be achieved through efforts in grid modernization, smart infrastructural development and energy storage facilitating the penultimate connection of vast amount of renewable power to electricity grids especially during peak times. Again, industrial sector seems promising as far as decarbonizing production processes and reducing emissions are concerned by adopting clean technologies such as carbon capture and storage (CCS), electrification and sustainable manufacturing processes. Additionally, changes that result into modification in the transport sector like electric vehicles expansion of public transportation systems, promotion of active transport modes amongst others also reduces emission levels whilst enhancing air quality. Transitioning to a low-carbon economy through financing will therefore require significant mobilization of investments towards clean energy infrastructure, sustainable land use practices and climate-resilient development. To direct capital towards low-carbon investment green bonds, carbon markets and public-private partnerships provide innovative financing mechanisms. |
