This working paper identifies key climate policies and investments and estimates their emissions-reduction potential and associated costs, which can enable the United States to reduce economy-wide greenhouse gas (GHG) emissions by 50–52% compared to 2005 levels by 2030 and reach net-zero GHG emissions by midcentury, the goals set by the Biden administration.
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Australian and Japanese companies are exploring the potential of capturing carbon dioxide from industries in Asia and storing it off the coast of Australia, on the ocean floor. Australian company, Transborders Energy Pty is leading the ‘deepC store project’ along with its partners which include Tokyo Gas Co. and Kyushu Electric Power Co. The team is exploring the possibility of shipping emissions across the Asia-Pacific region using a floating hub to inject the material under the seabed.
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Italian energy major, Snam has entered into cooperation agreements with leading Indian energy companies, particularly in hydrogen and low-carbon mobility sectors. The list of companies includes both private and public firms, with the agreements being announced against the backdrop of the virtual summit between the Prime Ministers of India, Narendra Modi, and of Italy, Giuseppe Conte.
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The US has made substantial progress towards a low-carbon economy over the past several years. According to research, the benefits of US climate action in today’s economic reality are evident. Strong climate action and investments in low-carbon infrastructure can be effective ways to recover from Covid-19 and secure the economy’s long-term success.
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