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limiting global warming to 1.5°C, decarbonisation, fair transition
Abstract:
Global warming can still be limited to 1.5°C by 2100 with low overshoot while ensuring that the poor are not hit hardest by climate policies and climate impacts. This is achieved by immediately introducing broad carbon pricing together with re-distributive policies using carbon pricing revenues and further measures to reduce energy consumption, accelerate technological transitions, and transform the land sector. The results from multiple integrated assessment models show that a combination of producer and consumer-oriented measures can work together to rapidly reduce emissions. They also show that re-distributive policies buffer the impact on poor households while allowing them to reap the benefit of avoided climate impacts in the longer term. This demonstrates that a global net zero transition done right not only safeguards the climate but also protects against worsening global inequality. The comprehensive results on 1.5°C pathways in line with the Paris Agreement are synthesised in this report of the European research project NAVIGATE. The new report published at COP28 provides a blueprint for achieving a rapid, fair and efficient transformation to net zero emissions.
