European Union made special anniversary of Paris Agreement

New Delhi: On the fifth anniversary of the historic Paris Agreement, the European Union has not only revised its targets in this context in honor of this memorable and very important climate agreement, but has announced new targets by making them even better.

European Union chair Ursula von der Leyen announced an amendment to the 2030 climate target for the European Union, stating that now the European Union will try to cut emissions of greenhouse gases by at least 55% instead of 40%. This announcement is important because it is the first time something like this is happening.

Earlier, the latest climate policy of Britain has already put pressure on all countries to review their climate targets. The UK decision is expected to inspire other countries to achieve the ambitious goal of keeping global temperatures below 1.5 degrees Celsius. UK Prime Minister Boris Johnson will significantly increase Britain’s goal of 2030 to cut emissions of polluting elements, to accelerate carbon liberation efforts over the next decade and the climate at COP 26 to be held in Glasgow next year To further strengthen the global leadership of the race to tackle change.

Britain has a target to cut greenhouse gases emissions by 61% by the year 2030 against 1990 levels, and the government told reporters at a media briefing today that the target would be raised to at least 68%. For this, the rate of decarbonization will have to increase by at least 50% in the next decade.

As the host of the United Nations Climate Change Summit to be held in Glasgow next year, Britain is under pressure to set a more ambitious goal of reducing emissions of polluting elements by 2030 as part of its latest plan to tackle climate change. Place in front of. Or it should commit to a nationally determined contribution (NDC) in support of the Paris Agreement.

These countries set net-zero carbon emission targets
• Sweden – by 2045
• United Kingdom – by 2045
• France – by 2050
• Denmark – By 2050
• New Zealand – by 2050
• Hungary – by 2050
• Japan – by 2050
• South Korea – by 2050
• China – by 2060

Speaking of East Asia, the three largest emitters here, China, Japan, and Korea, are responsible for more than 30 percent of total global emissions. According to the World Bank, Korea was ranked the 12th largest economy in the world in 2019. In a welcome move, South Korea’s new Prime Minister, Yoshihida Suga, the world’s third-largest economy and fifth-largest emitter of carbon dioxide, in a welcome move, ahead of South Korea’s own net zero target, set Japan to achieve the net zero emission target of 2050. Aimed at This decision of Japan can not only have far-reaching effects on the economy domestically, but will also have an impact on other countries’ relations with Japan. Especially countries like Australia and Indonesia will feel the most impact of this decision because both these countries are Japan’s largest coal exporters.

On the other hand, Japan has an offshore power generation capacity of 1120 GW which will prove to be very attractive for European countries.

A large number of institutional investors also support the Paris Agreement targets and achieve net zero emissions by 2050. The three largest economies in East Asia now have clear commitments for net zero emissions in or around mid-century. This is a powerful market signal that will help encourage other Asian countries to follow.

After the decision of the big economies of East Asia like China and Japan to come to zero emission level, now eyes are on India.