Implications of Deglobalization on Energy and Carbon Neutrality in Asia and the Pacific Region

Abstract

ABSTRACTThe IPCC (Intergovernmental Panel on Climate Change) special report on the impacts of global warming of 1.5°C urged the world to move toward carbon neutrality (CN). Following the announcement by European countries of their CN target by 2050, Japan, South Korea, and the USA announced their CN targets by 2050. However, the Russian invasion of Ukraine has divided the world and drastically changed energy markets, including natural gas. Moreover, the EU is now implementing controversial policies on carbon border adjustment mechanisms which may impose a heavier burden on developing countries. This study discusses how global divisions may influence energy strategies and climate policy for various Asian countries.