Climate Change Mitigation Agreement

Carbon capture and storage (CCS) is a way to mitigate climate change by intercepting carbon dioxide (CO2) from large point sources, such as power plants, and then releasing it safely instead of releasing it into the atmosphere. The IPCC estimates that the cost of stopping global warming without CCS would double. [177] The International Energy Agency states that CCS is “the most important new technology to reduce CO2 emissions” in electricity generation and industry. [178] [best source required] The Norwegian Sleipner gas field stores nearly one million tonnes of CO2 per year from 1996 to avoid penalties in the production of abnormally high CO2 natural gas. [179] [178] According to a Sierra Club analysis, the US Kemper Project, which was scheduled to go online in 2017, is the most expensive power plant ever built for the watts of electricity it will produce. [180] In 2019, New Zealand has made significant commitments to combat climate change: to reduce emissions to zero by 2050, Planting one billion trees by 2028 and encouraging farmers to reduce their emissions by 2025 or face higher taxes As early as 2019, New Zealand banned new offshore oil and gas drilling and decided that climate change issues would be addressed before any major decisions. [290] All remaining parties to the agreement must present their new 2030 targets before the next major UN climate meeting, to be held in Glasgow, UK, in November 2021 (this year`s climate summit has been postponed due to the pandemic). To date, only 14 revised objectives have been proposed or presented. However, an important point is how foreign development assistance, which is not directly related to climate change mitigation, is influenced by means of mitigating climate change.

[295] One of the outcomes of the UNFCC Copenhagen Climate Change Conference was the Copenhagen Agreement, in which developed countries pledged to allocate an additional $30 million in new resources between 2010 and 2012. [295] However, the definition of value-added remains unclear, and the European Commission has asked its Member States to define what they see as additional, and researchers at the Overseas Development Institute have found four main points of view:[295] Scientists also claim that behavioural changes, such as the reuse of plastic bags, are not an adequate response to climate change.