Achieving Net-Zero in the G20: a Novel Supply-Side Climate Policy to Value Carbon Sinks

Initiative -
Type Think20 (T20)
Date 10 October 2020

Abstract

The Group of Twenty (G20) includes the world’s largest fossil fuel producers and consumers. Deep transformations in energy-consuming behavior and technology and widespread enhancement of carbon sinks are necessary for these countries to achieve net-zero emissions in alignment with Paris-compliant temperature limitation thresholds. However, policies that focus on actions to enhance carbon sinks are largely lacking. To address this gap, we propose a phased policy approach that starts as a technology mechanism and leads toward balancing the rates of carbon extraction and deposition from and to the geosphere, implemented according to fossil carbon extraction and supply. Increasing climate action on the supply side of global fossil energy markets can enable new forms of cooperation between major fossil fuel producers and users. Such cooperation can accelerate and enhance climate ambition alongside efforts to price carbon emissions.

Authors

Paul Zakkour

Visiting Researcher Paul Zakkour is a director of the consultancy Carbon Counts and a visiting researcher at KAPSARC. Paul has more than… Paul Zakkour is a director of the consultancy Carbon Counts and a visiting researcher at KAPSARC. Paul has more than 17 years’ experience in the field of climate change policy, regulation and economics. Among other work, Paul advised on the design of European CCS regulations in 2007/08 and on the UNFCCC’s CCS rules under the clean development mechanism in 2010/11. Paul holds a Ph.D. in Environmental Technology from Imperial College, London.

Expertise

Climate change
Paris Agreement

Publications See all Paul Zakkour’s publications