Climate and Energy Governance for a Sustainable Future

Description

This book includes contributions by leading experts across the globe with the first part of the book focusing on the analysis of the Paris Agreement on Climate Change, examines COP26, and questions the political process in the US for the creation of policy for meaningful greenhouse gas emissions reductions. Part 2 explores various ways in which one can effectively mitigate climate change. The contents provide an analysis of carbon pricing, development of specific green energy technologies to promote economic prosperity, and analysis of electric vehicles and other elements of electrification in areas with carbon-intensive electricity supply. Part 3 analyses the international dimension of energy governance (both regional and global) and climate action. It further provides an analysis of the challenges faced by small island developing states, least-developed countries and other vulnerable places. It also offers an analysis of the prospects for a European Energy Union and explores why energy security and decarbonization are significant. Lastly, it explores global energy governance and how its fragmentation can be reduced. This volume will be a useful reference for those in industry and academia. Introduction Contents About the Editor Part I Setting the Scene 1 Did the 2015 Paris Climate Change Agreement Change the Trajectory of the Global Response to the Build-Up of Greenhouse Gas Emissions? Introduction Background Climate Change Efforts to Mitigate Climate Change The Paris Agreement The Overall Approach of the Agreement Noteworthy Aspects of the Agreement The Effect of the Agreement What Can Be Done? The Flaws of the Paris Agreement Alternatives to the Paris Agreement Conclusion References 2 COP26: Ambition, Coal, Finance, and the Paris Rulebook Introduction Focus Areas Ambition Coal Finance The Paris Rulebook Bringing It Home Singapore’s Climate Plan Case in Point: Renewable Energy Concluding Thoughts Dispute Resolution and Enforcement Different Mindset References 3 Was COP26 Critical for the Implementation of the 2015 Paris Agreement? Introduction COP 26 Finalised the Guidelines of the Paris Agreement Some Aspects Under the Paris Agreement Were Strengthened upon Some Goals of the Paris Agreement Were not Achieved Conclusion References 4 Can the Political Process in Washington Create Policy for Meaningful Greenhouse Gas Emissions Reductions? Introduction The Political Process in the USA Cannot Create Policy for Meaningful GHG Emissions Reductions The USA’s Executive in Relation to GHG Emissions Reduction The USA’s Congress in Relation to GHG Emissions Reduction For a Major Climate Change Initiative to Advance, Change Is Needed An Independent Climate Change Committee Changing Public Perception The USA on the Global Arena Conclusion Part II How to Move Forward Effectively 5 Carbon Pricing: Some Problems and Solutions Introduction Form Price Scope Point of Taxation Revenue Distribution Carbon Leakage and International Competitiveness Pre-existing Policies Conclusion 6 Carbon Pricing: Punitive Taxation on Beef How Should Carbon Pricing Policies Be Structured—And to What End? The Carbon Pricing Dilemma The Failure of Current Carbon Pricing Regimes Consumption-Based Carbon Pricing: A Potential Solution The Beef Industry An Opportunity to be Radical Rather than Incremental WTO Rules and Potential Litigation Conclusion References 7 Should Policymakers Encourage the Development of Specific Green Energy Technologies? Advantages and Risks Introduction Scope and Context Advantages of a Policymaker-Led Approach Political Capital of Policymakers Moral Mandate of Policymakers Economic Command of Policymakers Risks of a Policymaker-Led Approach Political Deadlock of Policymakers Economic Inefficiencies of Policymakers Evaluation of Policymakers’ Role in Encouraging Green Energy Transition Recommendations Conclusion References 8 Clean Energy Technologies as a Way to Combat the Climate Crisis Introduction Scope and Value of Research Whether Policymakers should lead Advantages of a Policymaker-Led Approach Risks of a Policymaker-Led Approach Considering Alternative Development Pathways: Should Other Actors Lead? Should Industry Lead the Development? Climate Resilient Development: Different Actors Must Exercise Leadership at Different Levels Conclusion 9 Access to Clean, Affordable, and Reliable Energy Sources to Promote Economic Prosperity Introduction Definition Policymakers Should Encourage the Development of Specific Clean Energy Technologies Clean Energy Technologies Are Unavoidable Clean Energy Technologies Are Beneficial Policymakers Are Best Positioned Risks of Developing Clean Energy Technologies Insufficient Research Disharmonious Climate Finance Mechanism Mitigating the Risks Conclusion 10 Should Policymakers Promote Electric Vehicles and Other Elements of Electrification in Areas with Carbon-Intensive Electricity Supply? Introduction Electrification to Meet the Target of 1.5 °C? United States People’s Republic of China European Union Singapore Should Policymakers Promote Electrical Vehicles and Other Elements of Electrification in Areas with Carbon Intensive Electricity Supply? Electrification to Land Transport Electrification of Buildings and Infrastructure Electrification of Industries Electrification is not a Standalone Solution Conclusion References 11 How to Promote Electrification, Decarbonize the Electricity Supply and Improve Energy Efficiency? Introduction Anti-Thesis Thesis Immediate Non-Climate Benefits of Electrification A Cleaner, Faster and More Efficient Transition to a Low-Carbon Electric City Policy Suggestions Element 1: Strategic Policy Setting and Policy Alignment Element 2: Policies and Incentives Encouraging Green Investment Element 3: Financial Policies and Instruments Encouraging Green Financing Element 4: Harness Resources and Build Capacity for Green Infrastructure Projects Element 5: Promote Green Business and Consumer Behaviour Conclusion Notes References 12 Promoting electric vehicles as the silver bullet for tackling climate change Introduction Definitions Relevant Facts EV adoption Global electric supply Promoting electrification in areas with carbon-intensive electricity supply Decarbonizing electricity supply is necessary Proposed solutions Local policies Coordinating electrification and decarbonization policies Conclusion Notes References Part III The International Dimension 13 Is the International Community Doing Enough to Address the Unique Climate Change Challenges Faced by Small Island Developing States, Least-Developed Countries, and Other Vulnerable Places? Introduction The Problem Argument Roadmap The Current Situation A. Issue #1: Discussion and Recognition in the Climate Negotiation Process of SLVs’ Unique Climate Change Challenges B. Issue #2: Climate Financing for Adaptation Measures Issue #3: Climate Migration What is the International Community Doing Well? Issue #1: Discussion and Recognition in the Climate Negotiation Process of SLVs’ Unique Climate Change Challenges Issue #2: Climate Financing for Adaptation Measures Issue #3: Climate Migration What Gaps Can Be Addressed? Issue #1: Discussion and Recognition in the Climate Negotiation Process of SLVs’ Unique Climate Change Challenges Issue #2: Climate Financing for Adaptation Measures Issue #3: Climate Migration Is the International Community Doing Enough? References 14 The European Energy Union: How Can It Be Achieved? What Are the Pros and Cons of Such a Union? Introduction: SOS, We Need Energy Security The EEU—Are We Finally Holding Hands? So then, How Can the EEU Be Achieved? The EEU’s Pros and Cons—Did the EU’s Dream Come True? Way Forward—Is the EEU a Mountain Worth Climbing? Notes References 15 Prospects for a European Energy Union Introduction Definition of Energy Security The EEU How a EEU Can Be Achieved? Advantages and Disadvantages of EEU Energy Union in ASEAN? Conclusion Notes References 16 Why Are Energy Security and Decarbonisation Important? Introduction Energy Security Decarbonisation Energy Independence Energy Poverty Adaptation to Climate Change Conclusion References 17 Reducing the Fragmentation of Global Energy Governance in a Post-pandemic World Introduction The State of Global Energy Governance Fragmentation of Global Energy Governance Areas of International Cooperation Summary A Post-pandemic Picture of Global Energy Governance Conceptual Cohesiveness Institutional Competence Political and National Interests Cautious Optimism for the Future of Global Energy Governance Notes 18 Global Energy Governance Introduction Why Do We Need Energy Governance? Global Energy Insecurity and Inequity The Failures of a Liberalised Energy Market The Relationship Between Energy and Politics The Objectives of a Desirable Global Energy Governance System The Feasibility of Achieving Global Energy Governance at Current State Concluding Optimism References 19 Is It Possible to Have Energy Governance at the Global Level? The Current State of Energy Governance: The Rise of Regional Energy Governance? A Brief Overview of Current REG Efforts Benefits of Forming GEG Through REG as Compared to GEG Through a Single International Organisation Is REG Conducive for GEG? Cause for Hope? Where Do We Go from Here? Why Would Existing Organisations that Are Currently Pursuing REG Work Together? Are the Regional Organisations Capable of Successfully Cooperating? Conclusion Notes References