Publication

Low-carbon transition risk

2020
Reports

Abstract

As evidence of climate change mounts, the urgency increases of transitioning to a low-carbon economy and society. There is a need for greater attention on the countervailing “transition risks” to which the low-carbon transition is likely to give rise. This article defines transition risk and outlines seven categories of such risks. It concludes by calling for more work to assess, evaluate and mitigate these risks, and to develop the tools and methods needed to deal with the systemic interconnections between them.

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2020
Reports

Abstract

Official source

Related concepts (11)

Energy transition

An energy transition (or energy system transformation) is a significant structural change in an energy system regarding supply and consumption. Currently, a transition to sustainable energy (mostly renewable energy) is underway to limit climate change. It is also called renewable energy transition. The current transition is driven by a recognition that global greenhouse-gas emissions must be drastically reduced. This process involves phasing-down fossil fuels and re-developing whole systems to operate on low carbon electricity.

Low-carbon power

Low-carbon power is electricity produced with substantially lower greenhouse gas emissions than conventional fossil fuel power generation. The energy transition to low-carbon power is one of the most important actions required to limit climate change. Power sector emissions may have peaked in 2018. During the first six months of 2020, scientists observed an 8.8% decrease in global CO2 emissions relative to 2019 due to COVID-19 lockdown measures. The two main sources of the decrease in emissions included ground transportation (40%) and the power sector (22%).

Low-carbon economy

A low-carbon economy (LCE) or decarbonised economy is an economy based on energy sources that produce low levels of greenhouse gas (GHG) emissions. GHG emissions due to human activity are the dominant cause of observed climate change since the mid-20th century. Continued emission of greenhouse gases will cause long-lasting changes around the world, increasing the likelihood of severe, pervasive, and irreversible effects for people and ecosystems.

Related publications (1)

Low-carbon transition risk

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People and spaces: Toward an urban centered approach of adoption patterns of low carbon technologies