Carbon budget

Carbon budget
See also

Carbon budget - is described as a tolerable amount of greenhouse gas emissions that could be emitted in sum over a specified period of time. This budget has to be matching with conditions required by science in purpose to hold global warming and consequently climate change good enough [1].

The essence of the carbon budget

It is a thought used in climate science to get together estimations of carbon dioxide fluxes over a year out and in of the atmosphere. The budget helps discover what progress has to be made in the medium term and short term in purpose to achieve a long term target [2]. " The idea of a budget has also been used to ascertain how much carbon dioxide can be emitted before reaching an atmospheric accumulation that will produce a 2-degree level of global warming "[3].

Connections with the financial sector

This theory of the budget could also be implemented to a period of the time that moves up to an emissions objective. It could explain, how much different areas are going to cooperate and can show the required reduction over each time to get a target. It is similar to the corporate, financial budget. It is like the exercise of planning. It divides the big distant objective into a group of closer, smaller ones. In reality, carbon budgeting is analogous to the budgets which are practiced to manage the finances of the public. Budget is the main core of policy making done by the government. A lot of countries have correctly created procedures for their approval and preparation, for external audit and the last one- legislative control. The mode and level of embodiment of such schemes in varied law, nevertheless the use of systematic rules of budgeting is very common. It is not advisable to take into consideration this similarity too far, but there is a belief that to advance climate change law people should look to the going methodical conception into directing public finances, promoting transparency, stability, accountability and policy making [4]. " The management of the carbon budget is as vital as the management of the fiscal budget. It requires the same level of political attention and civil service commitment, and the same degree of parliamentary scrutiny. Our successors should lead the way in rigorously monitoring the robustness of the carbon budgets [5]."

Concept of dividing the global target budget among the countries

We all shared the atmosphere, so we have one global budget for the whole planet. The activity of the economy causing emissions of carbon which are located within sectors, companies, countries [6].

Factors, which are taken into consideration to fairly divide global budget are [7].:

  • size of the population;
  • state of economic development;
  • emissions per capita;
  • technological, financial and other capacity to reduce carbon emission.

These elements are the main subject in dividing global target budget among the countries.

References

Footnotes

  1. Naude L. et al. 2012 p.2
  2. Zillman D. et al. 2018 p.29
  3. Zillman D. et al. 2018 p.29
  4. Zillman D. et al. 2018 p.29
  5. Grande-Bretagne Parliament 2010, p.26
  6. Naude L. et al. 2012 p.2
  7. Naude L. et al. 2012 p.2

Author: Aleksandra Zegiel