The Importance Of A Recent Declaration Of Australia

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A recent declaration has been made in June of 2015, by the G&7 nation leaders in favour of supporting the decarbonisation of the global economy by the end of the turning century. The leaders of these top 7 industrial countries have put forward the common goal of working towards a zero-carbon based global economy, which is said to eventually benefit the global society as a whole. The question brought up in this situation is as stands, how will changing to a decarbonized economy affect the way the world works and more specifically how it will affect the top fossil fuel producing countries like Australia who rely heavily on these resources to build a strong economy for their nation. Australia is one the largest fossil fuel suppliers,…show more content…
There was a 17-page communiqué, which was issued after the initial summit at Schloss Elmau under the title of “Think Ahead, Act Together” (Connolly 2015). This was to confirm the G7 leaders support towards the recommendations placed before them by the IPCC and the UNs’ Climate Change Panel to reduce the global greenhouse gas emissions by at least 40 to 70 percent by the year 2050 (given that 2010 was the starting year of the initiative) (Connolly 2015). Decarbonising the economy will consist of reducing and further along completely removing the use of carbon and the production of carbon dioxide from burning fossil fuel based energy sources (Jeffrey Sachs 2014). This minimizes the release of harmful greenhouse gas emissions into the environmental biosphere. In the current time there has been three different pillars identified in the deep decarbonisation scheme (Jotzo & Skarbek 2014). The first of the three being a shift into a lower carbon based electricity production solution by using a mix of wind, solar, hydro and nuclear energy predominantly with limited use placed on fossil fuels. The second consists of using electricity produced from a low-carbon supply to power personal vehicles, buildings and select few industrial processes. Finally energy efficiency can be maximized through the modification and improvement of building designs to greatly reduce the need for external energy for basic requirements such as cooling, heating
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