Low-carbon economy

[3] 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.

On the international scene, the most prominent early step in the direction of a low-carbon economy was the signing of the Kyoto Protocol, which came into force in 2005, under which most industrialized countries committed to reduce their carbon emissions.

Apart from that, other co-benefits can also be identified: Low-carbon economies present multiple benefits to ecosystem resilience,[11] trade, employment, health, energy security, and industrial competitiveness.

The transition to a carbon-neutral economy will put more jobs at danger in regions with higher percentages of employment in carbon-intensive industries.

[17] Low emission industrial development and resource efficiency can offer many opportunities to increase the competitiveness of economies and companies.

[27] The IEA believes that widespread decarbonization must occur by 2040 in order mitigate the adverse effects of climate change and that nuclear power must play a role.

The current transition aims to reduce greenhouse gas emissions from energy quickly and sustainably, mostly by phasing-down fossil fuels and changing as many processes as possible to operate on low carbon electricity.

[29] A previous energy transition perhaps took place during the Industrial Revolution from 1760 onwards, from wood and other biomass to coal, followed by oil and later natural gas.

[30][31] Over three-quarters of the world's energy needs are met by burning fossil fuels, but this usage emits greenhouse gases.