Financial Implications of Reduction in Greenhouse Gas Emissions
Cutting down on greenhouse gas emissions can help save millions of lives… and dollars!
With ‘global warming’ doing the rounds as a ‘hot’ topic of discussion and debate, global greenhouse gas emissions and their reduction are also issues that have received serious attention all over the world.
As the U.N. Foundation opines, diligent compliance to proposed regulations and policies by every nation, developed and developing, should make it possible to reach the cuts in gas emissions targeted for 2020 possible. These policies include energy efficiencies, greater uses of renewable energy, conservation of depleting forests and a more sensible and sustainable use of land.
Reduction in greenhouse gas emissions has immense financial implications apart from the vital issue of protection of the earth. Meeting the target set for 2020 could translate into a net savings of a whopping amount of $14 billion.
The current rate of growth of energy efficiency has been found to be 1.25 percent. Experts have estimated that a 0.75 percent increase in this rate (that is, if the rate is increased to 2 percent), the net savings by 2020 can jump to $98 billion.
Findings also infer that sure ways of boosting greenhouse gas emission reduction would be extensive reduction in deforestation, efficient land management, close scrutiny of cattle and the process of raising them and increase in generation of electricity from renewable resources.
“A new international agreement is urgently needed to address climate change,” said Timothy E. Wirth, President of U.N. Foundation. “It must include emission reduction targets by developed countries, nationally appropriate mitigation actions by developing countries, financial assistance to developing countries, and technology cooperation.”
He added that every nation in the world should be proactive immediately to combat global warming and adopt proposed measures to cut greenhouse gas emission. This would not only secure the future of the earth but would ensure immense growth of the global economy apart from protecting public health and energy security.
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