Carbon Neutrality
Follow the Money
- 2023
- Book
- Author
- Marko Hakovirta
- Book Series
- Springer Climate
- Publisher
- Springer Nature Switzerland
About this book
This book offers a fresh, comprehensive outlook on a paramount global challenge: climate change, seamlessly integrating intricate themes like climate science, innovative technology solutions, strategic business models, essential investments, and societal impacts. The book targets decision-makers, business leaders, educators, and those seeking a comprehensive grasp of this critical issue. It imparts insights into the necessary strategic alignment to understand and address the diverse elements required for mitigating and adapting to climate change effects. As a practical guide, it delineates a clear roadmap for implementing solutions and driving essential transformations. By fusing these multifaceted aspects, the book constructs a comprehensive framework that offers astute guidance for navigating the path towards achieving global carbon neutrality and effectively combatting climate change.
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Table of Contents
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Frontmatter
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Chapter 1. Introduction Brief History of Carbon Neutrality
Marko HakovirtaThis chapter offers a detailed exploration of the history of carbon neutrality, beginning with the formation of Earth and the origins of life. It traces the evolution of life forms, from microorganisms to complex multicellular organisms, and highlights the critical role of photosynthesis in shaping the planet's atmosphere. The text also delves into the significant events that have shaped Earth's biosphere, including the Great Oxygenation Event and the Permian–Triassic extinction event. It further discusses the rise of human civilization and the Industrial Revolution, emphasizing the impact of human activity on the environment and the urgent need for sustainable practices. The chapter concludes by examining the current global environmental crises and the efforts being made to mitigate climate change, offering a compelling overview of the challenges and opportunities in achieving carbon neutrality.AI Generated
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AbstractIn this chapter, we explore the concept of carbon neutrality, also known as net zero carbon emissions, which involves balancing the amount of CO2 emissions released into the atmosphere with an equivalent amount of CO2 removal or offsetting. We also delve into the fragility of Earth and its history of facing various climate issues that have posed risks to life. Over millions of years, the Earth’s climate has continuously changed due to natural processes, such as volcanic activity, changes in the Earth's orbit, solar radiation variations, and geological events. However, in recent times, human activities have emerged as a significant driver of climate change, leading to unprecedented shifts in the Earth's climate at a faster pace. Throughout this chapter, we examine the complex interplay between climate change and human history, exploring the impact of human activities on the climate and the importance of achieving carbon neutrality to address the pressing climate issues. The lessons from history and the challenges and opportunities in addressing climate change further emphasize the need for collective action and sustainable practices to safeguard our planet and its ecosystems. -
Chapter 2. Impetus for Carbon Neutrality–Frames of Reference
Marko HakovirtaThe chapter 'Impetus for Carbon Neutrality–Frames of Reference' delves into the historical context of climate change, highlighting the role of CO2 in the greenhouse effect and the significant impact of anthropogenic activities on global CO2 levels. It discusses the natural and human-induced factors contributing to climate change, emphasizing the critical role of CO2 as a temperature controller for Earth. The text also explores the complex carbon cycle process and the challenges posed by various greenhouse gases, including methane and nitrous oxide. Additionally, it provides insights into the sources and sectors contributing to greenhouse gas emissions, such as energy use in industry, agriculture, forestry, and land-use changes. The chapter concludes by discussing the high-impact areas for greenhouse gas mitigation and the hardest emissions to eliminate, offering a comprehensive understanding of the path towards carbon neutrality.AI Generated
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AbstractClimate change presents a significant global challenge primarily caused by the rise of greenhouse gases in the Earth's atmosphere. These gases act as a natural insulating layer, vital for supporting life on our planet. The carbon cycle normally regulates CO2 levels, but human caused, or anthropogenic emissions disrupt this balance, leading to global warming. The value chains of industries that are serving societal needs contribute to emissions, necessitating a comprehensive sustainability approach. The motivation to address climate change stems from the growing awareness of its severe impacts on the environment, ecosystems, and human societies. These impacts include more frequent and intense extreme weather events, rising sea levels, disruptions in agriculture and water resources, threats to biodiversity, and increased health risks. In this chapter, we explore various aspects related to anthropogenic emissions and discuss concepts for enhancing the value chain to mitigate climate change. -
Chapter 3. Policy and Governance for Climate Change–Global and Local Approach
Marko HakovirtaThe chapter begins by introducing the basics of policy work in a global context, categorizing policies into public, organizational, functional, and specific types. It then delves into environmental policy, emphasizing the importance of responsible environmental management and the various mechanisms used to achieve this. The chapter also discusses global GHG policies, highlighting key initiatives such as the Paris Agreement and the role of organizations like the IPCC and UNFCCC. Additionally, it explores the challenges and opportunities in achieving carbon neutrality, with a focus on the role of companies and governments in implementing effective climate policies. The chapter concludes by emphasizing the need for cooperation and strategic planning in achieving successful climate policy outcomes.AI Generated
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AbstractPolicy work is a complex and diverse field, particularly on a global scale. In this chapter, we examine fundamental policy concepts and look into examples at both local and global levels. We explore environmental policy focused on climate change and carbon reduction targets, including the Greenhouse Gas Protocol, Science Based Targets, and the EU Taxonomy. We also briefly discuss the key climate change policies in the USA, EU, and China. Additionally, we discuss corporate policies and targets, delving into their origins. In this chapter, we also present insights from company executives and experts, providing different perspectives on the challenges related to corporate policy and target setting. -
Chapter 4. Sustainable Business Models Driving Carbon Neutrality
Marko HakovirtaThis chapter delves into the concept of sustainable business models, emphasizing their role in driving carbon neutrality. It introduces several innovative models such as Natural Capitalism, Biomimicry, and Circular Economy, highlighting how these approaches can optimize resource use and reduce environmental impact. The text also explores the practical application of these models in the textile industry, showcasing how companies can adopt more sustainable practices to minimize their carbon footprint. Additionally, the chapter discusses the United Nations Sustainable Development Goals and how they align with the principles of sustainable business models. By providing a detailed analysis of these topics, the chapter offers valuable insights for professionals looking to implement sustainable practices in their industries.AI Generated
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AbstractIn this section, we explore sustainable business models, with a particular focus on those revolutionizing the climate technology sector. We look into influential concepts shaping businesses’ sustainability approaches that are critical for greener and more responsible future. One driving force is natural capitalism, which urges businesses to harness market forces to enhance resource efficiency, minimize waste, and foster innovation. Biomimicry, an inspiring concept, draws inspiration from nature's genius designs and industrial ecology provides a transformative perspective, viewing industrial processes as interconnected ecosystems. Cradle-to-cradle design presents a visionary paradigm, challenging businesses to create products and materials that are safe, fully recyclable, and biodegradable. Additionally, Life Cycle Assessment empowers businesses to evaluate their products' environmental impact comprehensively. We also embark on an exploration of the circular economy and bioeconomy, sustainable economic models that emphasize waste reduction and renewable resource utilization. Intertwined within these models are the United Nations Sustainable Development Goals, guiding businesses towards addressing global social, economic, and environmental challenges. Furthermore, we present a case example highlighting the textile industry's embrace of carbon zero business models. Through innovative strategies, this industry demonstrates its commitment to sustainability and a carbon-neutral future. -
Chapter 5. Technology Platforms–Carbon Neutral Technologies
Marko HakovirtaThe chapter delves into the crucial role of technology platforms in achieving a carbon-neutral society. It discusses the necessity of sustainable business models and the feasibility of carbon-neutral technologies. The text highlights various technology platforms such as electrification, carbon-free and renewable energy, hydrogen economy, and carbon capture technologies. It also explores the integration of these technologies into industries like transportation, manufacturing, and urban planning. The chapter emphasizes the importance of standardization and compliance in carbon-neutral technologies and their comparison to the European Economic Community law. Additionally, it discusses the impact of Industry 4.0 technologies on carbon neutrality and the use of AI and cognitive computing in achieving sustainability goals. The chapter concludes by highlighting the potential of carbon-free and renewable energy sources like wind and solar power in the transition to a low-carbon economy.AI Generated
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AbstractIn this chapter, we explore the crucial intersection of business models and carbon-neutral technologies that offer viable pathways towards achieving carbon neutrality. Many of these technology platforms are already mature or commercially available, making them feasible options for implementation. The six widely recognized climate technology platforms we focus on are electrification; emphasizing the transition from fossil fuel-based power sources to electricity, carbon-free and renewable energy, leveraging hydrogen or ammonia as clean energy carriers, carbon capture technologies and Industry 4.0 Technologies for carbon neutrality including artificial intelligence (AI) and Internet of Things. Throughout this chapter, we provide an in-depth review of each technology platform, exploring their functionalities, benefits, and potential applications. By understanding these technology options, businesses can make informed decisions and integrate them into their strategies for achieving carbon neutrality. -
Chapter 6. Investments in Carbon Neutrality–“Follow-The-Money”
Marko HakovirtaThe chapter delves into the financial aspects of achieving carbon neutrality, emphasizing the substantial investments required from both public and private sectors. It discusses various investment categories such as government R&D, infrastructure, renewable energy, and green bonds. The text also highlights the growing importance of sustainable finance and the ESG criteria in driving corporate sustainability. Additionally, it examines the investment trends in emerging technologies like hydrogen and electrified transportation, underscoring the need for increased investment to meet global climate targets.AI Generated
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AbstractIn this section, we explore the vital role of sustainable banking and finance in supporting the transition to carbon neutrality. We explore the various financial aspects, including government and corporate R&D, infrastructure development, renewable energy investments, clean-tech deployment, private equity, green bonds, and mergers and acquisitions, all of which are instrumental in driving climate policies and targets. With a macroeconomic and global perspective, insights are provided into selected public and private investments, highlighting the need for collaboration between governments, businesses, and investors to mobilize capital towards a greener future. The ambitious net zero emissions 2050 targets are discussed in the context of the urgency of major increases in climate technology investments. To achieve the ambitious targets, there must be a focus on technologies that facilitate the phasing out of fossil fuels. We discuss the investment actions falling behind in all technology platforms, underscoring the pressing need for accelerated action and investment in sustainable solutions. -
Chapter 7. Carbon Neutrality and Entrepreneurship
Marko HakovirtaThis chapter delves into the crucial role of entrepreneurship and start-ups in addressing climate change through innovation. It highlights the significant contribution of start-ups in driving climate technology development and their ability to challenge traditional approaches. The text discusses the challenges and opportunities faced by start-ups in the climate technology sector and the importance of collaboration with large corporations and academia. It also emphasizes the growing investment and support for climate technology start-ups, reflecting the urgent need for innovative solutions to combat climate change. The chapter underscores the potential of start-ups to accelerate the transition to a sustainable future and the increasing recognition of their value in the global innovation ecosystem.AI Generated
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AbstractStart-ups are playing a crucial role in driving climate technology innovation within the global innovation ecosystem. We discuss both outside-in and inside-out innovation models that are highly relevant to climate technology, allowing corporations to benefit from external innovations. For instance, start-ups actively contribute to AI solutions for achieving a carbon-neutral society and big data analysis in the Energy Internet (EI). In areas like direct air capture and green hydrogen concepts, start-ups leverage scientific knowledge, academic collaborations, and innovative partnerships, placing them in a strategic position within the climate technology space. Many start-ups in this sector have strong connections to academia, with advisory board members or founders from renowned research institutions, facilitating collaborations with universities. In the past decade, the total value of climate technology first-round venture capital financing deals has notably increased, reflecting the growing importance of start-ups in developing emerging climate technologies. As many technologies are needed to meet ambitious 2050 targets, they are still in the demonstration or prototype phase, start-ups play a crucial role in driving the development of these innovations. Their contributions are essential in advancing sustainable solutions and accelerating the journey towards a greener future. -
Chapter 8. Socioeconomic Aspects of Climate Change in Cities and Municipalities
Marko HakovirtaThe chapter delves into the socioeconomic aspects of climate change in cities and municipalities, highlighting the disproportionate impact on underprivileged coastal areas and urban centers. It discusses the global trends of urbanization and the resulting increase in greenhouse gas emissions, focusing on the challenges faced by developing countries in Asia and Africa. The text also explores the economic and social equity issues arising from climate change, including the need for climate justice and distributive justice principles. Notably, it presents case studies of vulnerable island nations and megacities, emphasizing the urgent need for adaptation and resilience strategies. The chapter concludes by underscoring the importance of cultural and mindset changes in addressing climate change effectively, promoting a more equitable and sustainable future for all.AI Generated
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AbstractIn this section, we discuss how climate change profoundly affects social structures, particularly in rural and underprivileged coastal areas, leading to devastating impacts from extreme weather events like floods, storms, and droughts. Urban areas also suffer from rising sea levels, disruptions to infrastructure and services, job losses, and health and well-being challenges. The majority of vulnerable megacities are situated in coastal areas, highlighting the need for global cooperation and support in addressing climate change fairly and equitably. Developing countries in Asia and Africa experience significant environmental issues due to the global trend of urbanization, including pollution, poverty, and overcrowding. Pacific Islands are threatened by ocean acidification impacting fisheries and coral reefs. Developing countries must receive necessary assistance and resources to cope with the challenges they face in mitigation and adaptation. Addressing environmental or climate justice is crucial in developing global climate solutions, with a focus on fair distribution of resources and opportunities. Climate change profoundly affects traditional industries, retail, commercial services, tourism, insurance, and agriculture. Mitigation efforts in cities and municipalities are critical, with sustainable cities and eco-cities playing an essential role in the equation. Overall, a cultural change and mindset adjustment is crucial in addressing climate change. Communities that value sustainability and environmental responsibility can motivate individuals to take actions to mitigate climate change. -
Chapter 9. Yellow Brick Road: Roadmap for 2050
Marko HakovirtaThis chapter provides a detailed roadmap to achieving carbon neutrality by 2050, emphasizing the importance of reducing and offsetting greenhouse gas emissions. It discusses the motivations and challenges of pursuing carbon neutrality, and outlines specific actions and technologies required for decarbonization across various sectors. The chapter also highlights the need for cultural and mindset changes, such as raising awareness, promoting social equity, and encouraging innovation, to complement technological solutions. Additionally, it underscores the significance of setting clear net zero goals that encompass all emission scopes and greenhouse gases, and incorporating carbon removal strategies to achieve a sustainable and low-carbon future.AI Generated
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AbstractIn the concluding chapter of this book, we present a comprehensive roadmap for addressing climate change and achieving carbon neutrality. The climate actions typically involve a two-step process. The first step emphasizes adopting sustainable practices, improving energy efficiency, transitioning to renewable energy sources, and implementing emissions reduction measures in various sectors. The second step involves offsetting remaining emissions through carbon offset projects or using Carbon Capture and Storage (CCS) technologies. These projects focus on activities that remove or reduce greenhouse gases from the atmosphere, such as afforestation, reforestation, soil carbon sequestration, and renewable energy initiatives. Achieving carbon neutrality comes with significant challenges and requires substantial investments. Funding is critical to support mitigation efforts and can be obtained through various means, including investments, bonds, grants, and other financial mechanisms. Governments, private companies, philanthropic organizations, and individuals can contribute to these funding initiatives, directing resources towards activities aimed at addressing climate change and promoting sustainability. The roadmap to carbon neutrality is complex and demanding. In this book, the proposed action plan involves two distinctive and parallel approaches: culture and mindset change and technological solutions. Raising awareness, fostering sustainable values, empowering community engagement, and advocating for policy changes are vital for change. On the technological front, investments in renewable energy, energy efficiency, CCS technologies, hydrogen technology, and afforestation and reforestation are paramount. The final chapter emphasizes the urgency and collective responsibility to address the climate crisis, paving the way towards a sustainable and carbon–neutral future. -
Backmatter
- Title
- Carbon Neutrality
- Author
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Marko Hakovirta
- Copyright Year
- 2023
- Publisher
- Springer Nature Switzerland
- Electronic ISBN
- 978-3-031-45202-4
- Print ISBN
- 978-3-031-45201-7
- DOI
- https://doi.org/10.1007/978-3-031-45202-4
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