The cover of TIME magazine, (April 26/May 3, 2021) titled "Climate is Everything", was designed by Malaysian Red Hong Yi using 50,000 matchsticks, illustrating fire burning in the five continents.
High greenhouse gas (GHG) concentrations in the atmosphere have caused global warming. This leads to climate change, which will become a threat to the ecosystem as much as to mankind.
The Intergovernmental Panel on Climate Change (IPCC) released its Sixth Assessment Report (AR) of Working Group 1 on Aug 9. I wish to highlight three points raised in the AR.
FIRSTLY, it projects global warming relative to 1850-1900: "Under the very low and low GHG emissions scenarios, global warming of 2°C is extremely unlikely, or unlikely to be exceeded".
SECONDLY, the best estimates for global warming in near term (2021-2040), midterm (2041-2060) and long term (2081-2100) are 1.5, 1.6 and 1.4°C.
The AR warns: "Unless there are immediate, rapid and large-scale reductions in GHG emissions, limiting warming to 1.5°C will be beyond reach."
THIRDLY, the authors underline: "It is unequivocal that human influence has warmed the atmosphere, oceans and land."
Hence, the question is how we can change people's behaviour to not cause environmental problems and GHG emissions.
In 2018, China and the United States released 9,809 metric tonnes (Mt) of carbon dioxide (CO2) and 4,766Mt, in 2019.
CO2 emissions of both amount to 43.5 per cent. The scale is terrifying. So China and the US must do more to stop climate change. It is doable.
People must change their behaviours to undertake — adaptation and mitigation — to reduce CO2 emissions.
Both adaptation and mitigation strategies for climate change are already adopted by the Conference of the Parties (COP) in 2015. The COP has also agreed on concerted efforts to mobilise financial resources to support the reduction of CO2 emissions.
In this respect, I am still cautious because development assistance in many developing countries, especially in Sub-Saharan Africa, has yet to produce the intended results.
Financial support for the developing world to mitigate CO2 emissions is necessary but insufficient. Every developing country must commit to "self-help efforts" to reduce CO2 and GHG. I will give examples.
IPCC guidelines explain: "Adaptation is the prevention of damage caused by climate change, the stability of life, the sound development of society or the conservation of the natural environment in response to the effects of climate change. Mitigation is a measure to reduce and absorb GHG emissions."
We should also change our livelihoods to those that produce lesser environmental loads. The first example is the shift to electric vehicles (EV). Imposing tax does not bring about a shift to EV because, for example, this leads to gasoline cars becoming more expensive and it will not incentivise the purchase of EV if individual income remains the same. This is because the price of EV is high due to their small production volume.
So using subsidy to support the shift to EV is a better policy response. The subsidy must be used to support the purchase of EV. The scale can be from 30 to 50 per cent of the purchase price.
This will encourage more people to drive EV, and the shift will bring down CO2 emissions caused by gasoline. Just as important, the subsidy also increases more purchase of EV. That is the scale effect in lowering production costs over time.
Another example is related to the use of subsidy for enhancing cleaner power generation. Most developing countries commonly use environmental damaging hydrocarbons for power generation.
Therefore, the shift to less-polluting technology is imperative to reduce CO2 emissions. Using subsidy, instead of tax, to shift to cleaner power generations is the way to go.
Not only does a subsidy not cause a price hike in electricity, it can also boost the use of cleaner power generations that are climate-friendly.
Lastly, strengthen the use of new technology that reduces CO2 emissions, especially downstream petroleum industry.
This new technology can absorb CO2 in petroleum refinery and the subsequent chemical products.
These examples can broaden and deepen self-help efforts to achieve the goals for adaptation, mitigation, and shift strategies for climate change. Nevertheless, the goals will not be attainable without financial support.
These elements form the necessary and sufficient requirements to stop climate change as much as achieving safer and environmentally friendly livelihoods.
The writer is a professor at Reitaku University, Tokyo, and has been teaching Southeast Asian studies, international economics, integration, development economics and Asian economy since 1983