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Reduction of Carbon Intensity: Rhetoric or Reality?
Abstract
Global warming is unequivocal and almost certainly caused by recent human activities that have increased the greenhouse gas (GHG) emissions. Emissions reductions of carbon dioxide and cumulative carbon emissions from energy consumption have created widespread concern of various government agencies, scientific circle, and the general public. The states and the international community are simultaneously struggling to address climate change. Impacts of carbon emission are inevitable and there is a long debate as to who bears the losses incurred due to the carbon emission. Both the developing and the developed economies need to reduce their CO2 intensity significantly for stabilizing the Earth's climate at no more than a 2°C temperature rise. However, for the sake of health, safety, and environment, the supply of oil and gas as well as emission of carbon need to be operated in an environmentally sustainable manner so as to avoid environmental harms.
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