Abstract

Many nations have committed to midcentury net zero carbon emissions targets in line with the 2015 Paris Agreement. These require systemic transition in how people live and do business in different local areas and regions within nations. Indeed, in recognition of the climate challenge, many regional and city authorities have set their own net zero targets. What is missing is a grounded principles framework to support what will inevitably be a range of broader public policy actions, which must in turn consider pathways that are not only technically, but economically, socially and politically feasible. Here, we attempt to stimulate discussion on this issue. We do so by making an initial proposition around a set of generic questions that should challenge any decarbonisation action, using the example of carbon capture and storage to illustrate the importance and complexity of ensuring feasibility of actions in a political economy arena. We argue that this gives rise to five fundamental ‘Net Zero Principles’ around understanding of who really pays and gains, identifying pathways that deliver growing and equitable prosperity, some of which can deliver near-term economic returns, while avoiding outcomes that simply involve ‘off-shoring’ of emissions, jobs and gross domestic product.

Highlights

  • Many nations have committed to midcentury net zero carbon emissions targets in line with the 2015 Paris Agreement

  • In the spirit of stimulating debate and opening dialogue, we focus our own initial consideration from the political economy perspective of our own expertise and research base, using this initial proposition as an invitation for colleagues across academic and policy stakeholder communities to contribute through further commentary and research

  • The aim of this viewpoint piece has been to raise the challenge of developing broader public policy foundations to support the delivery of ambitious net zero commitments

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Summary

Introduction

Many nations have committed to midcentury net zero carbon emissions targets in line with the 2015 Paris Agreement. Delivery in any geopolitical context will require that different departments of national, devolved and local governments can effectively work both with each other, and with diverse industry, public and research communities, to determine how best to achieve what equate to systemic transitions in how economies function and how people live and do business.

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