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

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  • Toshi H. Arimura
  • Makoto Sugino

Abstract

The 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.

Suggested Citation

  • Toshi H. Arimura & Makoto Sugino, 2024. "Implications of Deglobalization on Energy and Carbon Neutrality in Asia and the Pacific Region," Asian Economic Policy Review, Japan Center for Economic Research, vol. 19(1), pages 105-124, January.
    • Handle: RePEc:bla:asiapr:v:19:y:2024:i:1:p:105-124
    DOI: 10.1111/aepr.12444
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    References listed on IDEAS

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    1. Shantayanan Devarajan & Delfin S. Go & Sherman Robinson & Karen Thierfelder, 2022. "How carbon tariffs and climate clubs can slow global warming," Working Paper Series WP22-14, Peterson Institute for International Economics.
    2. Christoph Boehringer & Sonja Peterson & Thomas F. Rutherford & Jan Schneider & Malte Winkler, 2021. "Climate Policies after Paris: Pledge, Trade and Recycle Insights from the 36th Energy Modeling Forum Study (EMF36)," Working Papers V-434-21, University of Oldenburg, Department of Economics, revised May 2021.
    3. Makoto Sugino & Minoru Morita & Kazuyuki Iwata & Toshi. H. Arimura, 2017. "Multiplier impacts and emission reduction effects of Joint Crediting Mechanism: analysis with a Japanese and international disaggregated input–output table," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 19(3), pages 635-657, July.
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    Cited by:

    1. Paul J. Burke, 2024. "Comment on “Implications of Deglobalization on Energy and Carbon Neutrality in Asia and the Pacific Region”," Asian Economic Policy Review, Japan Center for Economic Research, vol. 19(1), pages 125-126, January.
    2. Takatoshi Ito & Kazumasa Iwata & Colin McKenzie & Shujiro Urata, 2024. "Deglobalization: Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 19(1), pages 1-17, January.

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