Low Carbon Development is a Growing Trend in the World Economy

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Low Carbon Development is a Growing Trend in the World Economy
// The Year of the Planet. 2021. Yearbook-2021. P. 21-29

Abstract. The global pandemic of COVID-19 led to the acceleration of low-carbon restructuring of world economy. Activation of US climate policy, EU Green Deal, the 26th global climate summit in Glasgow formed a global political and regulatory framework for «green transition». Launching of the national system of trade withallowanceson emission of greenhouse gases in July 2021 lifted share of world emissions of greenhouse gases, covered by taxes or other forms of payments for carbon, to 21%. After decarbonization demethanization wad included into the global economic agenda. World leading corporations from the real sector and banking and investment institutions are increasingly engaged in decarbonization and demethanization efforts. Transition from the energy system based on fossil fuels towards more diversified one will take a long time and develop unevenly across countries and continents. Temporarily decelerations and even backward movements in this transition are highly probable, however, the vector of changes is set unambiguously.

Keywords: decarbonization, demethanization, solar and wind energy, systems of trade with allowances on emission of greenhouse gases, mechanism of transborder carbon regulation, EU taxonomy, voluntary carbon markets, fighting deforestation


For citation:
Kopytin I., Reznikova O. Low Carbon Development is a Growing Trend in the World Economy. The Year of the Planet. — 2021, pp. 21-29



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