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The most stringent emission scenarios published by the Intergovernmental Panel on Climate Change (IPCC) would result in the stabilization of atmospheric carbon dioxide (CO2) at concentrations of approximately 550 ppm which would produce a global temperature increase of at least 2°C by 2100. Given the large uncertainties regarding the potential risks associated with this degree of global warming, it would be more prudent to stabilize atmospheric CO2 concentrations at or below current levels which, in turn, would require more than 20-fold reduction (i.e.,≥95%) in per capita carbon emissions in industrialized nations within the next 50–100 years. Using the Kaya equation as a conceptual framework, this paper examines whether CO2 mitigation approaches such as energy efficiency improvements, carbon sequestration, and the development of carbon-free energy sources would be sufficient to bring about the required reduction in per capita carbon emissions without creating unforeseen negative impacts elsewhere. In terms of energy efficiency, large improvements (≥5-fold) are in principle possible through aggressive investments in R&D and the removal of market imperfections such as corporate subsidies. However, energy efficiency improvements per se will not result in a reduction in carbon emissions if, as predicted by the IPCC, the size of the global economy expands 12-26-fold by 2100. Terrestrial carbon sequestration via reforestation and improved agricultural soil management has many environmental advantages, but has only limited CO2 mitigation potential because the global terrestrial carbon sink (ca. 200 Gt C) is small relative to the size of fossil fuel deposits (≥4000 Gt C). By contrast, very large amounts of CO2 can potentially be removed from the atmosphere via sequestration in geologic formations and oceans, but carbon storage is not permanent and is likely to create many unpredictable environmental consequences. Renewable energy can in theory provide large amounts of carbon-free power. However, biomass and hydroelectric energy can only be marginally expanded, and large-scale solar energy installations (i.e., wind, photovoltaics, and direct thermal) are likely to have significant negative environmental impacts. Expansion of nuclear energy is highly unlikely due to concerns over reactor safety, radioactive waste management, weapons proliferation, and cost. In view of the serious limitations and liabilities of many proposed CO2 mitigation approaches, it appears that there remain only few no-regrets options such as drastic energy efficiency improvements, extensive terrestrial carbon sequestration, and cautious expansion of renewable energy generation. These promising CO2 mitigation technologies have the potential to bring about the required 20-fold reduction in per capita carbon emission only if population and economic growth are halted without delay. Therefore, addressing the problem of global warming requires not only technological research and development but also a reexamination of core values that equate material consumption and economic growth with happiness and wellbeing. [ABSTRACT FROM AUTHOR]

Anthropogenic global climate change has large and mounting negative economic impacts. Companies and nations responsible for greenhouse gas (GHG) emissions are thus acquiring considerable potential liabilities. If litigation becomes widespread, renewable energy technologies (RETs) potentially offer emitters reduced liability for climate change. This benefit has been ignored because of the lack of knowledge of potential liabilities. To overcome this information deficit, this paper reviews recent literature on the potential for climate change litigation and methods to quantify liability for climate change. Next, the top 10 emitters in the U.S. are identified and their potential liability is quantified using standard GHG emission costs. Potential liabilities are explored in depth with a single case study company comparing the results of the fractional liability from only natural disasters within the U.S. for a single year to a sensitivity of the future costs of carbon emissions from other sources of emission-related liability. Then classes of potential climate change litigants are identified and their capacity to bring such lawsuits is evaluated. The results show that the net income available to shareholders of large companies could see a significant reduction from the emissions liability related to only natural disasters in the U.S. from a single coal-fired power plant. Finally, a rough estimate of the economic risk associated with future scenarios and existing organized international potential litigants is quantified. The results show that potential liability for climate change for the Alliance of Small Island States is over $570 trillion. It is concluded that as emitters begin to be held liable for damages resulting from GHG emissions resulting in climate change, a high value for liability mitigation would provide additional powerful incentives for deployment of renewable energy technologies. [ABSTRACT FROM AUTHOR]

Climate Change, Renewable Energy, Greenhouse Gas Emission, Global Warming Keywords: Climate Change; Renewable Energy; Greenhouse Gas Emission; Global Warming EN Climate Change Renewable Energy Greenhouse Gas Emission Global Warming 2581 2582 2 10/12/22 20220901 NES 220901 Greenhouse gas emission and climate change The relationship between climate change and energy-intensive industrial processes has been addressed repeatedly with scientific evidence that global warming is to a significant extent caused by human activity through the release of greenhouse gases (GHG).[[1], [3]] In the perspective of strengthening the global response to the increasing threat of climate change, sustainable growth, and efforts to eliminate poverty, the Intergovernmental Panel on Climate Change (IPCC) published a special report on the impact of global warming. To maintain global warming below 1.5 °C this century, as the Paris Agreement aspires, the annual greenhouse gas emissions must be cut in half within the next eight years. [Extracted from the article]