From Early 2020, Focus on Climate Change Measures... From Thunberg to the EU

[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Europe and the rest of the world have been announcing new climate change measures to reduce carbon emissions since the beginning of the year, seeking ways to respond. The focus is on establishing practical measures in economic policies and businesses, rather than simple environmental catchphrases. Some voices deny climate change itself, leading to conflicts with those working on climate change countermeasures.

According to AP News and others on the 17th (local time), the Davos Forum to be held in Switzerland from the 21st to the 24th will discuss climate change issues. The World Economic Forum (WEF) announced that U.S. President Donald Trump and Swedish youth environmental activist Greta Thunberg will attend the Davos Forum together.

Their joint attendance is anticipated because, despite a 57-year age gap, they have repeatedly clashed over environmental issues. President Trump denies the reality of climate change, withdrew from the Paris Climate Agreement, and has eased various environmental regulations. Recently, he also implemented regulatory relaxations to reduce the burden of environmental impact assessments required for large construction projects. Last September, when Thunberg visited New York to deliver a speech at the United Nations (UN) General Assembly, a photo of her glaring angrily at President Trump as he passed by became a hot topic. At that time, President Trump sarcastically tweeted, "She seems like a very happy young girl looking forward to a bright and wonderful future." Also, when Thunberg was named Time magazine's Person of the Year in 2019, he tweeted "Nonsense."

[Image source=Reuters Yonhap News]

According to a Swiss media outlet, Thunberg stated that she will once again urge world leaders to respond to climate change at the Davos Forum. She will participate as a speaker at the 50th Davos Forum held in Davos, Switzerland, from the 21st to the 24th. On the 21st, she is scheduled to speak at sessions titled "Building Sustainable Directions for a Shared Future" and "Preventing Climate Catastrophe."

◆ "Do Not Deny Climate Change" = Not only President Trump but also American media mogul Rupert Murdoch and others take a stance that they cannot accept climate change itself. As a result, voices saying "Do not deny climate change" are growing louder. Recently, The New York Times (NYT) pointed out that media outlets owned by Murdoch focus more on arson and other causes rather than climate change regarding the large wildfires in Australia. In response, Murdoch's eldest son James and his wife strongly criticized their father's media outlets denying the connection between Australian wildfires and climate change on the 14th, expressing "disappointment" in a statement.

Jeff Bezos, CEO of Amazon, who recently visited New Delhi, India, also criticized those who deny climate change as irrational. He said, "If you go back 10 or 20 years, there were people who did not acknowledge that climate change was real," adding, "Today, people who do not acknowledge that climate change is real, that is, those who do not recognize that humans are affecting the Earth in very serious and dangerous ways, are not rational."

Bezos also emphasized, "This (climate change) is a big problem, and global collective action will be necessary to make progress on this issue," adding, "If a large company like Amazon, which has 700,000 employees and leaves a significant 'carbon footprint' worldwide, undertakes climate pledges, it can truly be a driving force for change." Amazon launched the eco-friendly project "Climate Pledge" last September, committing to operate its business solely on 100% renewable electricity by 2030.

[Image source=AP Yonhap News]

◆ From the EU to MS... Focus on Economic Measures = A characteristic of recently announced climate change measures is the focus on practical responses beyond simple slogans. Economic incentives are provided through subsidies and job support for regions that may suffer economic damage or business withdrawals due to climate change. The "Green Deal Investment" climate change measure introduced by Ursula von der Leyen, President of the European Union (EU) Commission, who took office last month, focuses on these aspects. This investment plan aims to make Europe a "carbon-neutral continent" by 2050 and achieve net zero carbon emissions. The plan involves investing 500 billion euros from the EU budget, 300 billion euros from private and public investments, 100 billion euros from member state contributions, and 100 billion euros for a just transition system.

The EU plans to utilize funds for practical environmental measures. According to the just transition system proposal released by the EU Commission, funds for the just transition system will be invested in job creation, corporate support, job seeking, and retraining in regions affected by policies promoting carbon neutrality. Subsidies will be prioritized for regions with many coal, lignite, oil shale, and peat workers, as well as regions with greenhouse gas-intensive industries, to provide practical economic support so they can find other jobs. The final adoption will be decided through decisions by the European Parliament and the European Council.

Germany, a key economic power in Europe, is also taking the lead on environmental issues. The German federal government has decided to completely phase out coal-fired power generation by 2038 with a total investment of 44 billion euros. Coal-fired power plants in four states?Saxony-Anhalt, North Rhine-Westphalia, Brandenburg, and Saxony?will be gradually closed. Eight aging power plants will be shut down by the end of this year, and operations will be gradually stopped over the next decade. A budget including compensation will be allocated for residents affected during this process.

Microsoft (MS) also announced a plan yesterday to invest 1 billion dollars to completely reduce carbon emissions. MS plans to put this fund into the "Climate Innovation Fund," which supports the development of carbon removal technologies over the next four years. Additionally, MS will switch office and factory energy to 100% renewable energy by 2025 and electrify all company vehicles by 2030. MS has focused on reducing carbon dioxide emissions and actively applied this in its business processes. MS President Brad Smith said, "One of the conclusions we reached is that this (climate change) is an area where neutrality is not enough, so we must have greater ambition."