Global governance and the Global Green New Deal: the G7’s role

Johnstone, Injy

doi:10.1057/s41599-022-01046-2

Cited by 17 publications

(10 citation statements)

References 16 publications

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“…In their responses to COVID-19, each G7 member stated that a green recovery is a top priority for their national policies. For example, each G7 nation invests proportionately more in clean than dirty stimulus in response to COVID-19, with an estimated ratio of 3:1 (Johnstone 2022 ). The clean stimulus includes investment in renewable energy or clean transport, and the dirty stimulus includes investments in oil and gas operations and airlines.…”

Section: Resultsmentioning

confidence: 99%

Post-COVID-19 pandemic and the Paris agreement: a socioeconomic analysis and carbon emissions forecasting in developed and developing countries

Hoy

Leong

Woon

2023

Clean Techn Environ Policy

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The COVID-19 pandemic caused profound impacts on the global economy, resulting in a sharp drop in carbon emissions as energy demand fell. The emissions reduction due to past extreme events often follows with a rebound after the economy recovers, but the pandemic’s impacts on the long-term carbon emissions trend remain unknown. This study forecasts the carbon emissions of Group of Seven (G7) as developed countries and Emerging Seven (E7) as developing countries using socioeconomic indicators and artificial intelligence-powered predictive analytics to assess the pandemic’s impacts on the long-term carbon trajectory curve and their progress toward achieving the Paris Agreement goals. Most E7’s carbon emissions have strong positive correlations (> 0.8) with the socioeconomic indicators, whereas most G7’s correlate negatively (> 0.6) due to their decoupled economic growth from carbon emissions. The forecasts show higher growth rates in the E7’s carbon emissions after the rebound in the pandemic scenario compared to the pandemic-free scenario, while the impact on the G7’s carbon emissions is negligible. The overall impact of the pandemic outbreak on long-term carbon emissions is small. Still, its short-term positive impact on the environment should not be misunderstood, and stringent emissions reduction policies must be implemented urgently to ensure the achievement of Paris Agreement goals. Graphical Abstract Research methodology for assessing the pandemic's impacts on the G7 and E7 countries' long-term carbon trajectory curve. Supplementary Information The online version contains supplementary material available at 10.1007/s10098-023-02508-0.

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Section: Resultsmentioning

confidence: 99%

Post-COVID-19 pandemic and the Paris agreement: a socioeconomic analysis and carbon emissions forecasting in developed and developing countries

Hoy

Leong

Woon

2023

Clean Techn Environ Policy

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“…The carbon budget goals set for both five-year plans have been realized with the support of the government funding, among other measures [ 66 ]. The British government specified in the Clean Growth Strategy to increase financial support for CCUS (carbon capture, utilization and storage) technology, and 6 CCUS clusters have been formed [ 67 ]. In 2020, the British government also announced a £12 billion investment in the Green Industrial Revolution [ 68 ], which is currently underway.…”

Section: A Brief Description Of Financial Measures In the Three Focus...mentioning

confidence: 99%

Financial Measures to Reduce Carbon Emissions in Britain, Japan and the United States: A SWOT Analysis

Zhang

Wei

2022

IJERPH

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To mitigate global warming, China, the world’s largest greenhouse gas emitter, has set the goals of achieving carbon peak by 2030 and carbon neutrality by 2060, and financial measures could play an important role. To avoid unnecessary costs, China could learn from the experience of other countries to better understand the potential role of financial measures in achieving carbon emission reduction goals. Hence, this article adopts a SWOT analysis to compare the financial measures taken by Britain, Japan and the United States in the process of carbon emission reduction in the last twenty years. This article finds that government funds and financial innovation have contributed markedly to carbon emission reduction in those three countries. With the help of the SWOT analysis, we recommend that China take financial measures to help achieve carbon peaking and carbon neutrality goals from four aspects: formulating proper policy, regulating carbon trading market, strengthening international cooperation, and promoting innovation.

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“…The administration and the Democratic Party, which won a landslide victory in the National Assembly election in April 2020, adopted the Green New Deal as the green recovery and economic stimulus package in response to Covid-19. Emulating the European Union and the U.S. which introduced green stimulus policies (Davenport 2021;Johnstone 2022), the Moon administration introduced the Green New Deal with digital and green transition components to revitalize the Korean economy and facilitate the transition to a low-carbon, green society. Social safety elements were also included in this grand national plan to address possible negative consequences such as deepening inequality.…”

Section: Commitment To Carbon Neutrality At Home and Abroadmentioning

confidence: 99%

Climate Hypocrisy? A Case of Korea’s Involvement in Coal Capacity Expansion in Southeast Asia

Han¹

2022

kjis

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Due to deepening climate change, countries around the world have increasingly committed themselves to transitioning to carbon neutral socio-economic systems. However, some recent studies and observations in the environmental realm have noted how commitments to address climate change have often turned out to be empty promises, to the extent that the actions of these countries can be called hypocrisy. This study adds to the existing discussion on climate hypocrisy, applying the concept to the case of South Korean firms' involvement in coal-fired power plant projects in Southeast Asia. The study problematizes such practices, as they have dramatized the discrepancy between Korea's commitment to carbon neutrality as well as greenhouse gas emission reduction goals as a responsible, leading green state on one hand, and its ongoing support for overseas coal capacity expansion via its public and private firms on the other. This discrepancy has eroded Korea's credibility in global environmental politics surrounding the climate change issue, inviting international criticism including local opposition in Southeast Asian countries. Moreover, some global financial firms have decided to withdraw their investment in Korean firms, causing monetary loss and raising the possibility of the coal-fired power plants under operation or construction to become stranded assets. In addition to conceptualizing the climate hypocrisy, this study highlights the importance of the congruence between commitment and action in global climate change politics.

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Global governance and the Global Green New Deal: the G7’s role

Cited by 17 publications

References 16 publications

Post-COVID-19 pandemic and the Paris agreement: a socioeconomic analysis and carbon emissions forecasting in developed and developing countries

Post-COVID-19 pandemic and the Paris agreement: a socioeconomic analysis and carbon emissions forecasting in developed and developing countries

Financial Measures to Reduce Carbon Emissions in Britain, Japan and the United States: A SWOT Analysis

Climate Hypocrisy? A Case of Korea’s Involvement in Coal Capacity Expansion in Southeast Asia

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