The Hiroshima University carried out a study on how governments can achieve the best results when implementing plans to phase out fossil-fueled vehicles. Since many countries plan to do so by year 2050, HU researchers developed different models that presented scenarios on how the phase-out plan can help battle climate change.
The study underscored the importance of using renewable energy and application of carbon policy strategies. Assistant Professor Runsen Zhang at Hiroshima University’s Graduate School for International Development and Cooperation, led the researchers in making use of economic and transportation data from 17 regions across the globe.
They then applied the data in creating six (6) different models, each of which projected a different economic and transport scenario once the Earth reaches year 2100. Every scenario provided additional information to use in devising mitigation strategies for addressing climate change and in formulating policies worldwide.
One such scenario settled at 1.80 degrees Celsius in 2100, lower than the 2 degrees Celsius target goal of the United Nations Framework Convention on Climate Change. In this transportation model, countries produce and use only electric vehicles (i.e. two-wheelers, cars, small trucks, buses and the like); whilst implementing a strategy for carbon pricing.
What is Carbon Pricing?
Carbon pricing captures the costs of greenhouse gas (GHG) emissions, for purposes of shifting back to emitters, the costs of damages caused by GHGs. Carbon pricing policies therefore will hold responsible, those who insist on using carbon-emitting vehicles.
The carbon prices will be tied to emissions that resulted in weather disturbances that damaged crops, healthcare costs incurred in connection with drought and heat wave; as well as loss of property as damage sustained from flooding and rise in sea levels.
Professor Zang remarked that:
“A policy for electric vehicles works well for macroeconomic systems, yet the condition requires a supporting policy, either for carbon pricing or renewable energy”.
Although researchers noted that carbon pricing strategies produced more significant results, these are being criticized for potential negative impacts on economic growth; such as loss of gross domestic product (GDP). Unlike renewable energy policies that harness renewable electricity sourced from wind and solar power, implementation of such strategies not only reduce carbon emissions. It can also help maintain growth in the power industry sector.