Transition To A Net-Zero-Emissions Economy

2019 was recorded as the second warmest year in the warmest decade (2010- 2019). It is apparent that global temperatures are expected to increase between 1.5 to 5 degrees Celsius in many cities by 2030 to 2050. To fight against climate change, 194 countries who subscribed to the Paris Agreement have agreed to act to the climate change threats with GHG emission reduction frameworks, initiatives and plans. Challenge now remains on response and buy-in from companies and industries to implement sustainable operation including sustainability-related legislations, monitoring system and decarbonization programs within organizations.

The Global Net-Zero Action (NZA2021) is conceptualised to trigger discussions for the need of systemic shifts that will change the trajectory of GHG levels in the atmosphere. The program will provide essential skills and knowledge for organisations to effectively manage the risks and opportunities associated with the transition to a low-carbon economy.

The NZA2021 will further elaborate the practical understanding of climate change issues and associated economics in adopting low GHG emission practices, as the private and public organizations need to develop a multi-disciplinary carbon management skills, knowledge and leadership to address this complex climate change challenges at the international, regional, national and local levels through both economic incentives and regulatory controls. Decarbonisation innovations and technologies deployed to manage the releases of greenhouse gases will also be presented.

Key takeaways from the Global Net-Zero Action 2021 are:

• Lessons learned from the physical hazards and socioeconomic impacts of climate change
• Implications that could impact businesses, industries and government services for inactivity or proactivity in climate action
• Steps that businesses, industries and governments could take to response with the imperatives of sustainability