### Changing Perceptions of Climate Change in the International Community - 2007 to the 2020s

### Changing Perceptions of Climate Change in the International Community - 2007 to the 2020s

**Turning point in 2007**.

In 2007, the Intergovernmental Panel on Climate Change (IPCC) released its Fourth Assessment Report, which determined that global warming was progressing rapidly and was primarily caused by anthropogenic activities. At that time, atmospheric CO2 concentrations reached 380 ppm, a level well above past climate change cycles (approximately 200-300 ppm). This global warming was considered to have the potential to cause global-scale environmental changes, such as the melting of the Arctic and Greenland ice sheets, the degradation of coral reefs, and the frequency of extreme weather events. Cases such as Hurricane Katrina that hit the southern United States (1,800 deaths, total damage of approximately 125 billion dollars) and the European heat wave in 2003 that killed 70,000 people impressed the world with the seriousness of climate change.

In addition, the Stern Review was released in the U.K., which revealed the economic impact of global warming measures, estimating that 1% of GDP (approximately 670 to 980 billion yen) needs to be allocated for global warming measures, and that if left unchecked, losses could reach 5 to 20% of GDP. In response to these reports, the United Kingdom has been working on a "Climate Action Plan. In response to these reports, the United Kingdom proposed the concept of "climate security" and stressed the need for the international community, including the United States, to cooperate in addressing climate change.

**Progress in Corporate Climate Change Response**.

Japanese companies followed this trend and actively participated in the Clean Development Mechanism (CDM). Mitsubishi Corporation is promoting a project in Pakistan to install denitrification equipment, aiming to reduce emissions by approximately 1 million tons of CO2 equivalent per year, while Tokyo Electric Power Company (TEPCO) is recovering methane gas from a pig farm in Chile, expecting to reduce emissions by approximately 2 million tons of CO2 equivalent. In South Korea, Ineos Chemicals recovered and destroyed HFC23 (a CFC substitute) and obtained the right to emit about 9.8 million tons of CO2. HFC23 has a global warming potential of 11700 times that of CO2, so this reduction was considered extremely important.

**Current Status and Further Progress in the 2020s**.

In the 2020s, the effects of climate change are becoming more apparent: in 2023, torrential rains caused dam bursts and flooded cities in southern China, resulting in serious damage. These extreme weather events were attributed to increased water vapor in the atmosphere, clearly indicating the impact of global warming.

At the same time, progress is being made in combating climate change, with particular emphasis on the introduction of renewable energy and reduction of greenhouse gases. In the U.S. solar panel market, the Israeli company Lumet has developed a new manufacturing technology, and the South Korean Hanwha Group Q-Cells is building a supply chain in Georgia, USA. In addition, the International Energy Agency (IEA) suggests that AI technology could reduce energy consumption in buildings by 15-25%.

In addition, top corporate management compensation is increasingly linked to climate-related goals: by 2023, 54% of S&P 500 companies will incorporate climate-related metrics into CEO compensation, making the ability to implement climate action a key measure of a company's reputation.

Through these efforts, climate change action and economic activity are being further reconciled, and the international community as a whole is increasingly required to cooperate.