{"id":243170,"date":"2023-05-19T20:40:25","date_gmt":"2023-05-19T15:10:25","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=243170"},"modified":"2023-05-19T20:40:25","modified_gmt":"2023-05-19T15:10:25","slug":"globalization-will-work-better-for-planet-earth-than-its-alternative","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/globalization-will-work-better-for-planet-earth-than-its-alternative\/","title":{"rendered":"Globalization will work better for Planet Earth than its alternative"},"content":{"rendered":"\n<p><strong>Source: <\/strong>This post is created based on the article<strong> \u201cGlobalization will work better for Planet Earth than its alternative\u201d <\/strong>published in <strong>Live Mint<\/strong> on <strong>19<sup>th<\/sup> May 2023. <\/strong><\/p>\n<p><strong>Syllabus Topic: <\/strong>GS Paper 3 \u2013 Environment and Climate Change<\/p>\n<p><strong>News<\/strong>: McKinsey Global Institute has discarded the view that the path to sustainability will involve moving away from globalization.<\/p>\n<p>The McKinsey research suggests that the resources, innovations, and capital required to reach net-zero emissions are unevenly distributed globally, necessitating international cooperation and exchange.<\/p>\n<p>WTO also supports that trade is crucial for countries to reduce emissions and build climate resilience.<\/p>\n<h2><strong>What are some of the examples that prove that globalization is necessary for decarbonization?<\/strong><\/h2>\n<p><strong>First, <\/strong>all major world regions rely on imports for at least one input necessary for the net-zero transition. For instance, over 75% of the global supply of lithium, essential for electric vehicle batteries, comes from Australia and Chile.<\/p>\n<p><strong>Second,<\/strong> Decarbonizing sectors that produce most GHGs will require the development of low-emission technologies and infrastructure. Building and operating these assets requires: new mineral resources, new fuels, and complex manufacturing at scale. Therefore, International supply chains are integral to produce these assets.<\/p>\n<p><strong>Third,<\/strong> Minerals like copper, lithium, and rare earth metals, vital for electric vehicles and renewable power are not available in every country.<\/p>\n<p><strong>Fourth,<\/strong> the distribution of manufactured goods like solar panels and electric vehicles relies on global supply chains.<\/p>\n<p><strong>Fifth,<\/strong> developing countries will need more investment for the net-zero transition. Hence, access to cross-border financial flows will be necessary for these economies.<\/p>\n<p><strong>Sixth, <\/strong>if economies attempt to localize or diversify supply chains, the need for capital and intangibles will increase.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: This post is created based on the article \u201cGlobalization will work better for Planet Earth than its alternative\u201d published in Live Mint on 19th May 2023. Syllabus Topic: GS Paper 3 \u2013 Environment and Climate Change News: McKinsey Global Institute has discarded the view that the path to sustainability will involve moving away from&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/globalization-will-work-better-for-planet-earth-than-its-alternative\/\">Continue reading <span class=\"screen-reader-text\">Globalization will work better for Planet Earth than its alternative<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[216,10501],"class_list":["post-243170","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-3","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/243170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=243170"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/243170\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=243170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=243170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=243170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}