P2U2 11Government-led Adaptation and Mitigation Strategies

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What is the main goal of the Paris Agreement?

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To limit global warming to 2°C above pre-industrial levels and aim for carbon neutrality by 2050.

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What are the two main types of strategies for addressing climate change?

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Adaptation and mitigation strategies.

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What is adaptation in the context of climate change?

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Actions to protect against the impacts of climate change, such as building seawalls.

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What is mitigation in the context of climate change?

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Efforts to reduce or prevent the causes of climate change, such as cutting CO2 emissions.

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What are carbon emissions offsetting schemes?

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Schemes that allow companies to invest in projects that reduce emissions elsewhere to balance their own emissions.

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What is a potential problem with carbon emissions offsetting schemes?

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They can increase costs in countries with these rules and potentially lead to emissions shifting to countries without similar regulations.

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What is a carbon trading scheme (Cap and Trade)?

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A system that sets a limit on emissions for companies within a capped sector, allowing companies that emit less to sell credits to those that exceed their limit.

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What is a potential issue with carbon trading schemes?

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Companies might choose to pay fines instead of reducing emissions if buying credits is too expensive.

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What is a carbon tax?

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A tax on activities that release CO2, aiming to discourage emissions by making polluting more expensive.

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What is a challenge associated with carbon taxes?

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Ensuring widespread adoption, as companies in countries without carbon taxes may have a competitive advantage.