A Decarbonized Economy (Pillar Two)

This chapter presents pillar two, a decarbonized economy, focused on the immediate urgency of the climate crisis. The well-being and sustainable development trajectories of future generations critically depend on our collective efforts to realize pillar two in the present decade and to radically address the problem of global GHG emissions. Without meaningful and effective action on pillar two in the short term, our collective horizons may shift from concerns about delivering sustainable prosperity globally, to more fundamental concerns of survival for ever-increasing segments of the global population. The chapter provides an overview of the so-called ‘emissions gap’ between current policy pledges and emissions reductions needed in actuality to stay with the ‘safe operating space’ of 1.5 °C of warming, before arguing for the necessary investment to deliver a rapidly decarbonized economy, including through Green New Deal (GND) initiatives.KeywordsDecarbonized economyGHG emissionsSustainable developmentEmissions gapInvestmentGreen new deal