The world has been set a difficult task: to reach net zero by 2050.
To those who are unfamiliar with the term ‘net zero’, this refers to reducing greenhouse gas emissions by 100% by the middle of the century.
More specifically, the term net zero means achieving a balance between the amount of carbon that is emitted into the earth’s atmosphere and the amount removed from it.
So, how can the net zero target be reached by 2050?
Read on to find out!
Why is net zero needed?
If you ever watch the news, you will already have heard that the issue of global warming is not improving. In fact, the global surface temperature of the earth is neither decreasing nor stabilizing.
What does this mean for the planet?
In a nutshell, if we don’t act fast to reduce the temperature, then catastrophic disaster is imminent. It is no longer enough to simply reduce carbon emissions and hope for the best; they need to be eliminated completely.
Is net zero possible by 2050?
There is no denying that the net zero target by 2050 is a challenging one. In fact, for this to be at all possible, there needs to be significant changes across all sectors and in all countries.
According to the Committee on Climate Change, the net zero target should be able to be reached using currently known technologies. That being said, it has also stated that clear and consistent policies are needed worldwide to make net zero possible by 2050.
However, there are certain industries that need to act fast due to the high amount of carbon emissions that they currently produce. For example, the carbon footprint of steel and cement is extremely high compared to other sectors.
How much will net zero cost?
As you might have already guessed, the cost of achieving net zero by 2050 is great. In fact, it is expected to cost an estimated $9.2 trillion per year. To put this into perspective, this is around $3.5 trillion more than what is being spent today.
Invest in solutions to remove carbon from elsewhere in the supply chain
As mentioned briefly above, there are certain industries that need to work just that little bit harder to achieve net zero by 2050, including steel manufacturers, cement factories, and power generation plants, all of which produce very high levels of carbon dioxide.
The future of the planet depends on the actions of humans, with the target of net zero looming closer and closer.
There can be no further delay when it comes to decarbonization, and organizations must act now to change their practices and do their bit for Mother Earth.