The Promise and Peril of Decarbonization
To achieve a just transition to renewables, the international community must enable emerging and developing economies to make the necessary investments in green technologies without going deeper into debt or sacrificing income growth. While the challenges involved are enormous, there is cause for hope.
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BEIJING – To limit global warming to 1.5° Celsius, it is crucial to decarbonize the entire world. But pressuring emerging economies to reach net-zero emissions too quickly could lead to an explosion of dollar-denominated debt and financial volatility across the developing world. Integrating these countries into the decarbonization effort requires a more nuanced strategy.