### Changes in Global Climate Change Awareness - From 2007 to the 2020s

### Changes in Global Climate Change Awareness - From 2007 to the 2020s

**The Turning Point in 2007**

In 2007, the IPCC (Intergovernmental Panel on Climate Change) published its Fourth Assessment Report, which confirmed that global warming was rapidly progressing and was primarily due to human activities. At that time, atmospheric CO2 levels had reached 380 ppm, significantly exceeding the historical range of 200-300 ppm seen in past climate cycles. This warming trend raised concerns about the potential for widespread environmental changes on a global scale, including the melting of ice sheets in the Arctic and Greenland, the degradation of coral reefs, and the increased frequency of extreme weather events. The devastation caused by Hurricane Katrina in the southern United States (which led to over 1,800 deaths and approximately $125 billion in damage) and the 2003 European heatwave, which resulted in the deaths of 70,000 people, highlighted the severity of the climate crisis.

In the United Kingdom, the Stern Review was published, shedding light on the economic impact of climate change measures. It estimated that about 1% of GDP (approximately 67 trillion to 98 trillion yen) would be needed annually to combat climate change, and that ignoring the problem could result in losses of 5-20% of GDP. Following this report, the UK advocated the concept of "climate security," calling for international cooperation, including from the United States, to address climate change.

**Progress in Corporate Climate Response**

Japanese companies followed suit, actively participating in the Clean Development Mechanism (CDM). Mitsubishi Corporation introduced a denitrification system in Pakistan, aiming to reduce annual CO2 emissions by approximately 1 million tons, while Tokyo Electric Power Company (TEPCO) implemented a methane gas recovery project at a pig farm in Chile, aiming to reduce emissions by about 2 million tons of CO2. In South Korea, Ineos Chemicals acquired approximately 9.8 million tons of CO2 emission credits by recovering and destroying HFC23 (a substitute fluorocarbon) with a global warming potential about 11,700 times that of CO2. Reducing HFC23 emissions is considered critically important for climate mitigation.

**The Present Situation and Further Progress in the 2020s**

Entering the 2020s, the impacts of climate change have become increasingly evident. In 2023, southern China experienced severe flooding, leading to dam breaches and urban inundation, attributed to increased atmospheric moisture due to global warming.

On the other hand, climate change countermeasures are also advancing, with a particular focus on renewable energy deployment and greenhouse gas reduction. In the U.S. solar panel market, Israeli company Lumet has developed new manufacturing technology, and South Korea's Hanwha Group's Q Cells has been building a supply chain in Georgia, USA. Furthermore, the International Energy Agency (IEA) has suggested that AI technology could reduce building energy consumption by 15-25%.

Moreover, there has been an increasing trend of linking CEO compensation to climate-related targets. In 2023, 54% of S&P 500 companies incorporated climate-related metrics into CEO pay, making climate action an essential criterion for corporate evaluation.

Through these efforts, the balance between climate change action and economic activity is further promoted, and international cooperation is increasingly needed across the globe.