Economic point of view
Discuss about the Renewable Growth and Sustainable Energy Reviews.
There has a long standing debate that whether nations around the world need to transform itself from the fossil fuel based economy to a renewable fuel based economy or not. Though, various international forums has been created since the 1980s when the effect of the global warming came at a large number in front of the humankind, yet very little has been done during the next three four decades (O’Neill et al. 2017). Some of the developed countries has adhered the greener technologies in order to make the environment free of carbon emission, however, when it comes to the developing nations, then it can be seen that the states has failed to absorb the greener technologies owing to various reasons. Under this scenario, this essay is meant to provide an argumentative overview of this much discussed phenomenon, from the different aspects. It will portray the scenario through the environmental perspective and from the point of view of the economy that whether developing nations need to absorb the green fuel as the mechanism of making earth carbon emission free or it is mere a tale.
The main argument of the change in the fossil fuel usage by the developing nation was brought in by the Kyoto Protocol back in 1982, which bring in the idea of common but differentiated responsibilities, that argue in favour of the different amount of responsibility by the different state in order to reduce the effect of the carbon emission through fossil fuel because it is one of the main source of the carbon emission (Quaschning 2016). Under this scenario, developing nations were burdened with the additional production of the greenhouse gases due to the fact that they are in their growth stage, where the industrialisation taking place.
Contrary to this, various researches like Covert et al. (2016) has argued that, it is uttermost important to keep in mind that, global warming has been enhanced due to the historical usage of the fossil fuel by the developed nations. Thus, they are more responsible for shifting them from fossil fuel based economy to greener energy economy. However, they have failed to do so miserably and now through various international forum, developed nations are enforcing the developing nation to absorb high priced, hard to utilise green fuels for their enhanced growth management (Boserup 2017).
As per the view of the researcher developing nations should not stop utilising the fossil fuel at a rapid rate, because it will deteriorate the stability of the economy. Firms, in the developing nation are mostly accustomed to the fossil fuel based technology, which in case a change will make fluctuation in the performance of the workers in the developing nation and leading to fall in the productivity as well. In order to transform the developing nations from fossil fuel based economy to renewable based economy, respective government should bring in the change in phased manner so as to allow the citizen absorb the transformation properly (Twidell and Weir 2015). On the other hand, for this transformation, huge amount of money is required, that need to be sourced by the developed nation due to their historical exploitation of the environment. In addition to this, as per the researcher, if the developed nation fails to provide proper assistance, then in spite of the restriction on fossil fuel, developing nations need to carry on utilising the same because, developing nations are not solely responsible for the global warming, rather the developed nations are the main culprit who brought in the same.
Environmental point of view
From the report of NASA, it can be seen that fossil fuel will be available until 2040 and then there will be scarcity of the same making the world a paralysed place, where the firms will stop work and eventually economies around the world will start to fall (Muller-Kraenner 2015). Thus, from the perspective of the world environment, it is essential for the nations to move from fossil fuel based energy source to greener technology based economy. It will aid the respective nations to move towards sustainability. Environmental point of view also highlights that, excessive exploitation of the fossil fuel during the last few decades has enhanced the level of global warming that will increased the sea level by 4 meters by the end of this century making the earth a hard place to live. One of the main source of the global warming is the fossil fuel, thus under this scenario, it will be essential for the respective nations to bring in greener technology.
Contrary to this, it has also been seen that, environmental friendly technologies are costly and they are not sustainable for the future due to the ever evolving technological scenario. Under this scenario, in various occasions, it has also been argued that only the developing nations should be accountable for the global warming and they need to reduce their dependence on the same in order to make their economy sustainable; however, due to lack of validity these are no longer valid today (Ellabban et al. 2014). Under this scenario, from the environmental ground too, it can be said that only the developing nations need not to change their usage of fossil fuel, in addition developed nation too need to do the same.
As per the greener source environmental overview of the researcher, it is highly essential to bring in the change in the flow of usage of the fossil fuel. Reduced amount of usage of the fossil fuel will lead to fall in the carbon emission, which in turn will reduce the greenhouse gas, resulting in fall in the global temperature as well as the repercussion effect of the same. Thus, as per the researcher, it is highly essential for the developing nation to absorb the greener source of energy so as to bring down the carbon emission. However, there is other concerns too regarding the environmental point of view of utilising the green fuel rather than the fossil fuel. The main objective of this essay is to demonstrate whether the developing nation need to bring in change in their usage of fossil fuel or not (Covert et al. 2016). Environment being an open ended surrounding of us cannot only be changed with the usage of greener technology of few. It need to be done by all the member of the environment irrespective of their economic strata. Thus, from the environmental point of view, researcher thinks that, not only the developing nation, in addition to this, developed nations too need to bring in change in their fossil fuel usage and transform them at faster rate compared to developing nation.
Conclusion
Conclusion:
It is easy to say that, utilising the strength of all the nation, churned through the developing nation, human kind can move them from the fossil fuel to the renewable energy source in order to reduce the level of carbon emission. However, different view discussed above regarding the transformation from fossil fuel based economy to renewable energy based economy and the same shows that, there is wide amount of lag in this regard. From the above discussion it has been found that, though it is essential to move from fossil fuel based economy to renewable energy based economy from the point of view of the environment, yet it from the economic ground, it is not feasible for the developing nations at this point. Greener technologies are costlier compared to the fossil fuel technology, it has become hard for the developing nations to adhere with the same. On the other hand, though it is necessary to bring in the change, however, it is hard to do at the price of some nation because, historically it has been seen that the developed nations are the mainly responsible for the growth of the carbon emission. Thus to conclude it can be said that, at this moment it is not possible for the developing nation to move from fossil fuel based economy to greener energy based economy and they should utilise the fossil fuel, where, developing nation should install greener technologies in more amount and pay the price for their deeds during the age of the rapid industrialisation during 1960 to 1980s.
Reference:
Boserup, E., 2017. The conditions of agricultural growth management: The economics of agrarian change under population pressure. Routledge.
Covert, T., Greenstone, M. and Knittel, C.R., 2016. Will we ever stop using fossil fuels?. Journal of Economic Perspectives, 30(1), pp.117-38.
Ellabban, O., Abu-Rub, H. and Blaabjerg, F., 2014. Renewable energy resources: Current status, future prospects and their enabling technology. Renewable and Sustainable Energy Reviews, 39, pp.748-764.
Muller-Kraenner, S., 2015. Energy security. Routledge.
O’Neill, B.C., Kriegler, E., Ebi, K.L., Kemp-Benedict, E., Riahi, K., Rothman, D.S., van Ruijven, B.J., van Vuuren, D.P., Birkmann, J., Kok, K. and Levy, M., 2017. The roads ahead: narratives for shared socioeconomic pathways describing world futures in the 21st century. Global Environmental Change, 42, pp.169-180.
Ottman, J., 2017. The new rules of green marketing: Strategies, tools, and inspiration for sustainable branding. Routledge.
Quaschning, V., 2016. Understanding renewable energy systems. Routledge.
Twidell, J. and Weir, T., 2015. Renewable energy resources. Routledge.
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