SoLiXG:Net-zero
Net-zero
Net zero sets a future target at a specified date when human caused greenhouse emissions will be counterbalanced by natural or enhanced carbon sequestration. It is a particular climate modelling approach that counts on gradual transition rather than radical transformation. Net zero has become the dominant framework for climate action through intense negotions followed by regulation, numerous policy frameworks and voluntary action. A carbon credit market has been created to allow companies, countries and organizations to offset residual emissions by buying and selling carbon credits. While having created a recognizable and acceptable target for driving green transition, the issue with Net Zero is that it is an approach which does little towards environmental justice. It counts with continued growth, rather than cutting emissions towards 'real zero' and carbon credits have become a financial asset like any other. This created opportunities for delayed emission reduction, financial speculation and land grabbing.