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Net Zero Producers’ Forum

Topics Covered: Conservation related issues.

Net Zero Producers’ Forum:


Context:

Qatar, the US, Saudi Arabia, Canada and Norway have come together to form a cooperative forum that will develop pragmatic net zero emission strategies.

  • These countries are collectively responsible for 40% of global oil and gas production.

Roles and functions of the Net Zero Producers’ Forum:

The Net Zero Producers’ Forum will consider strategies and technologies which include “methane abatement, advancing the circular carbon economy approach, development and deployment of clean-energy and carbon capture and storage technologies, diversification from reliance on hydrocarbon revenues, and other measures in line with each country’s national circumstances.”

What is net-zero?

Net-zero, which is also referred to as carbon-neutrality, does not mean that a country would bring down its emissions to zero. Rather, net-zero is a state in which a country’s emissions are compensated by absorption and removal of greenhouse gases from the atmosphere.

  • Absorption of the emissions can be increased by creating more carbon sinks such as forests, while removal of gases from the atmosphere requires futuristic technologies such as carbon capture and storage.

InstaLinks:

Prelims Link:

  1. What is the Net Zero Producers’ Forum?
  2. About the Climate Leaders’ Summit.
  3. What is net-zero?
  4. Countries committed to net-zero.
  5. About Paris Agreement.

Sources: Indian Express.