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2024 | Book

Net Zero: Decarbonizing the Global Economies

Author: Sinan Küfeoğlu

Book Series : Sustainable Development Goals Series

Part of: Springer Professional "Wirtschaft+Technik" , Springer Professional "Technik" , Springer Professional "Wirtschaft"

Table of Contents

About this book

This monograph is designed to provide a comprehensive and accessible reference to Net Zero efforts globally. Firstly, the book explains the basics of Net Zero, Greenhouse Gas Emissions (GHG), and the global climate change struggle. A chapter on Environmental, Social, and Governance (ESG), as standardisation and screening of sustainability follows. Next comes a chapter on carbon pricing and carbon tax. After these background chapters, the book continues with eight chapters that cover Net Zero across a variety of economic sectors: energy supply, business sector, transport, residential, industrial processes, waste management, public (and government), and agriculture, forestry and land use. These economic sectors are adopted from the Intergovernmental Panel on Climate Change (IPCC) and UK National Statistics. Each chapter includes basic background information, technical or scientific, and a policy section. The sector-based chapters also include sectoral emissions analysis, review, and then a horizon scanning for innovative companies and their business models. This will enable non-experts from the business sector to read and understand the dynamics and trends in other sectors. Similarly, students and fresh graduates will easily follow the chapter (or the industry) that interests them and comprehend the basics and contemporary business trends. By joining research work with the business models of 400 noteworthy and innovative companies, this book constructs a vital bridge between academia, practical reality, policy, and business implementation, with a keen focus on environmental value.

Frontmatter

1. Net Zero: Science and Policy

Abstract

This chapter sets the stage for a comprehensive exploration of net zero ambitions’ complexities, beginning with presenting the fundamental concepts underlying net zero science. From defining net zero and greenhouse gas emissions to unravelling the nuances of Scopes 1, 2, and 3 emissions, the chapter lays a robust foundation for understanding the quest for achieving carbon neutrality. A historical perspective offers insights into the evolution of net zero goals, including the European Union’s perspective on climate change mitigation. Central to the chapter is examining measurement and tracking mechanisms, analysing how emissions are quantified and monitored globally. The chapter presents case studies, focusing on the United Kingdom’s journey towards net zero, highlighting historical trajectories, policy frameworks, and statistical milestones. Emphasising the importance of net zero, the chapter investigates the environmental impacts of greenhouse gases and the consequences of failing to achieve carbon neutrality, underlining the collective responsibilities of governments, businesses, and individuals. Ultimately, it aims to empower readers to navigate the complexities of net zero aspirations and contribute meaningfully to the global effort to combat climate change.

Sinan Küfeoğlu

2. Environmental, Social, and Governance

Abstract

Environmental, social, and governance (ESG) factors are introduced in this chapter along with an explanation of their increasing importance in today’s corporate environments. The chapter begins with an examination of the fundamental ideas of ESG, emphasising the development and inherent interdependence of its three pillars: social responsibility, environmental stewardship, and efficient governance. The story highlights sustainability as the cornerstone of ESG and clarifies the fundamental links between ESG objectives and sustainable development goals, emphasising the latter’s role in wealth generation. After that, a thorough analysis of ESG measures and reporting procedures is provided, covering the complex nature of measuring ESG performance as well as its associated challenges, such as data accessibility, transparency, and accuracy. In addition, the chapter discusses the emerging net-zero environment and the cooperative efforts that NGOs, businesses, governments, and other stakeholders must make to implement sustainable change.

Sinan Küfeoğlu

3. Carbon Pricing and Taxing

Abstract

This chapter introduces fundamental concepts on carbon pricing and taxation, dissecting various mechanisms and their global impacts. Commencing with carbon pricing fundamentals, the chapter navigates through diverse mechanisms, including carbon tax, cap and trade, baseline-and-credit systems, emission trading systems, and the burgeoning voluntary carbon market. Through carbon tax case studies from South Africa and the United Kingdom and emission trading systems case studies from the European Union and California, the chapter offers insights into these mechanisms’ practical implementation and efficacy. Central to the chapter is examining the global adoption and impact of carbon pricing. From international agreements to economic and environmental repercussions, the chapter presents the dimensions shaping the efficacy and scalability of carbon pricing mechanisms. Moreover, the chapter mentions the challenges and controversies surrounding carbon pricing, including equity considerations, social impacts, and political and business opposition. Concluding with a reflection on the complexities and potential pathways forward, the chapter highlights the imperative for continued dialogue and innovative approaches to address climate change effectively. Through a comprehensive analysis of global carbon pricing mechanisms, the chapter aims to provide readers with a nuanced understanding of the opportunities and challenges in navigating the transition towards a low-carbon future.

Sinan Küfeoğlu

4. Agriculture, Forestry, and Other Land Use Sector Emissions

Abstract

This chapter explores the agriculture, forestry, and other land use (AFOLU) sector, investigating its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the AFOLU sector, tracing its historical trajectory, current status, and future forecasts. It underlines decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further presents the role of key players and stakeholders in driving decarbonisation efforts within the AFOLU sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The chapter also addresses the challenges and barriers hindering effective implementation, underscoring the need for collaborative action and systemic changes. Finally, the chapter spotlights 45 notable business cases from 21 countries within the AFOLU sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

5. Business Sector Emissions

Abstract

This chapter explores the business sector, underlining its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the business sector, tracing its historical trajectory, current status, and future forecasts. It mentions decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further presents the role of key players and stakeholders in driving decarbonisation efforts within the business sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The discourse also addresses the challenges and barriers hindering effective implementation, underscoring the need for collaborative action and systemic changes. Finally, the chapter spotlights 55 notable business cases from 24 countries within the Business sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

6. Energy Supply Sector Emissions

Abstract

This chapter explores the energy supply sector, presenting its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the energy supply sector, tracing its historical trajectory, current status, and future forecasts. It highlights decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further summarises the role of key players and stakeholders in driving decarbonisation efforts within the energy supply sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The discourse also addresses the challenges and barriers hindering effective implementation, underlining the need for collaborative action and systemic changes. Finally, the chapter spotlights 70 notable business cases from 28 countries within the Energy Supply sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

7. Industrial Process Emissions

Abstract

This chapter explores the industrial processes sector, presenting its pivotal role in global decarbonisation efforts. Central to this chapter is an analysis of carbon emissions within the industrial processes sector, tracing its historical trajectory, current status, and future forecasts. This chapter underlines the imperative and potential implications of decarbonisation for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further overviews the role of key players and stakeholders in driving decarbonisation efforts within the industrial processes sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The discourse also addresses the challenges and barriers hindering effective implementation, underscoring the need for collaborative action and systemic changes. Finally, the chapter highlights 50 notable business cases from 15 countries within the industrial processes sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

8. Public Sector Emissions

Abstract

This chapter explores the public sector, presenting its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the public sector, tracing its historical trajectory, current status, and future forecasts. It highlights decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further presents the role of key players and stakeholders in driving decarbonisation efforts within the public sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The chapter also addresses the challenges and barriers hindering effective implementation, underlining the need for collaborative action and systemic changes. Finally, the chapter spotlights 25 notable business cases from 12 countries within the public sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

9. Residential Sector Emissions

Abstract

This chapter explores the residential sector, presenting its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the residential sector, tracing its historical trajectory, current status, and future forecasts. It highlights decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further presents the role of key players and stakeholders in driving decarbonisation efforts within the residential sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The chapter also addresses the challenges and barriers hindering effective implementation, underlining the need for collaborative action and systemic changes. Finally, the chapter spotlights 40 notable business cases from 16 countries within the residential sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

10. Transportation Sector Emissions

Abstract

This chapter explores the transportation sector, presenting its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the transportation sector, tracing its historical trajectory, current status, and future forecasts. It highlights decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further presents the role of key players and stakeholders in driving decarbonisation efforts within the transportation sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The chapter also addresses the challenges and barriers hindering effective implementation, underlining the need for collaborative action and systemic changes. Finally, the chapter spotlights 65 notable business cases from 24 countries within the transportation sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

11. Waste Management Emissions

Abstract

This chapter explores the waste management sector, investigating its pivotal role in global decarbonisation efforts. Central to the chapter is an analysis of carbon emissions within the waste management sector, tracing its historical trajectory, current status, and future forecasts. It highlights decarbonisation’s imperative and potential implications for mitigating climate change. In exploring decarbonisation strategies and applications, the chapter overviews various approaches, from technological innovations to policy interventions. The chapter further presents the role of key players and stakeholders in driving decarbonisation efforts within the waste management sector. From governmental bodies to grassroots organisations, each entity’s contributions and commitments to decarbonisation are examined, alongside the importance of social interactions and community involvement in fostering sustainable practices. The chapter also addresses the challenges and barriers hindering effective implementation, underlining the need for collaborative action and systemic changes. Finally, the chapter spotlights 50 notable business cases from 26 countries within the waste management sector, showcasing exemplary initiatives to reduce carbon emissions and promote sustainable land use practices.

Sinan Küfeoğlu

12. Road to Net Zero: Conclusion

Abstract

This chapter summarises the culminating journey to net zero, acknowledging the urgent imperative imposed by the Earth’s current 1.2 °C temperature rise from pre-industrial levels. With predictions warning of potentially irreversible impacts if temperatures surpass 2.7 °C, the pursuit of net zero emerges as a paramount goal to combat climate change and mitigate global warming. The chapter concludes the book’s comprehensive review of the net zero concept, environmental, social, and governance (ESG), carbon pricing and taxing, and eight economic sectors, encapsulating the efforts of 400 noteworthy and innovative companies from 55 countries. While acknowledging constraints in reviewing all global companies, the chapter offers a comprehensive glimpse into the global quest for net zero, underlining the collective resolve required to address climate change and usher in a sustainable future.

Sinan Küfeoğlu

Backmatter

Title: Net Zero: Decarbonizing the Global Economies
Author: Sinan Küfeoğlu
Publisher: Springer Nature Switzerland
Electronic ISBN: 978-3-031-70322-5
Print ISBN: 978-3-031-70321-8
DOI: https://doi.org/10.1007/978-3-031-70322-5