By cutting the carbon emissions to a level equivalent of India’s entire annual output of greenhouse gasses (GHG) and the world could save $22 trillion by 2050, according to a study by the Global Commission on Climate and Economy. Such scheme can be made possible by transforming cities into low carbon smart cities.
The aforementioned savings are acquired based on the calculation of savings on transport, buildings, waste disposal and heating according to the strategies outlined in the report.
These strategies include heavy investment in public transportation (which would make the biggest difference, among other strategies), and implementation of stringent green building standards – which requires more solar panel installation on rooftops and better building energy monitoring system, other many other methods.
Green building standards could further cut power consumption, reduce heat island effects, and reduce water demand. Through better waste management, biogas from waste could then be utilized as fuel to provide electricity for the society.
Retrofitting on the heating segment is also expected to grow of 1-4 at 3% of the building stock per year, starting off by 2020.
The report suggests cities to commit to low-carbon urban development strategies by 2020 in accordance to the attempt in achieving the global goal to reduce GHG by 3.7 Gt Co2e per year by 2030 – which is equivalent with India’s current output.
According to Michael R. Bloomberg, the UN Secretary-General’s special envoy for cities and climate change, initiatives taken by cities to shrink their carbon footprints as outlined above, can also reduce their energy costs, improve public health and help them attract new residents.
Buildings and roads construction/maintenance is a costly and resource-consuming process which raises concerns to the environment. Asphalt for the roads, as well...