Biggest Challenge Facing Nations in the 21st Century is Climate Change

THE BIGGEST CHALLENGE FACING NATION STATES IN THE 21ST CENTURY IS CLIMATE CHANGE
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Table of Contents TOC \o "1-3" \h \z \u Introduction PAGEREF _Toc41879576 \h 3Impacts of Climate Change in the Australian Energy Sector PAGEREF _Toc41879577 \h 4Climate Change Management Policies PAGEREF _Toc41879578 \h 5Former Labor Government’s Carbon Tax Policy PAGEREF _Toc41879579 \h 6Direct Action Plan (Funded by the ERF) PAGEREF _Toc41879580 \h 7Impact of Climate Change Policies on Energy Sector PAGEREF _Toc41879581 \h 7Risks of Climate Change Policies PAGEREF _Toc41879582 \h 7Climate Change Policies Opportunities PAGEREF _Toc41879583 \h 8Adaptation Strategies PAGEREF _Toc41879584 \h 8Investment on Negative Emission Technology PAGEREF _Toc41879585 \h 9Reduction in Demand with the Expansion of Renewable Energy Sources PAGEREF _Toc41879586 \h 10Conclusion PAGEREF _Toc41879587 \h 10References PAGEREF _Toc41879588 \h 11
The Biggest Challenge Facing Nations in the 21st Century is Climate Change
Introduction
In the 21st century, organisations and overall sectorial authorities face issues with the changing climatic conditions due to rising sea levels and temperature. Henceforth, human activities and industrial practices emit high carbon dioxide in the atmosphere that adversely affects each sector including energy, water, health and education, coastline, agriculture and many others (Australian Government 2020). For this purpose, global organisations are immensely concerned for managing the environmental conditions of the earth to attain high sustainability for benefiting society and enhance living standards. As per Yu et al. (2020), by overviewing the case of Australia, the country is on the frontline of climate change, and Australia can experience high risks due to the extreme conditions of bushfires with increasing temperature and warm seas. Thereby, the government should take immediate actions to manage risk factors.
Moreover, climate change adversely affects Australian economic and environmental stability by altering business practices in various sectors. For examining the influence climate transition and carbon tax policies on the energy sector and its associated risks, the report evaluates the changes emerging in the climate pertaining to the energy sector in Australia. Furthermore, the research substantially identifies the most appropriate policies that magnificently deal with the sectorial challenges to benefit the nation’s economy on a larger scale with limited impact on the environment. Correspondingly, the report is supportive of the environment management authorities to investigate the most ethical approach for limiting carbon emissions and manage the demand and production of energy in Australia by highlighting other approaches.
Impacts of Climate Change in the Australian Energy Sector
The energy sector is a massive contributor to produce emissions and greenhouse gases with sweltering of fossil fuels, including gas, coal and oil in factories and commercials. From the study of the Climate Council (2018), Australia already faces huge complications such as storms, bushfires and heatwaves due to climate change and extreme ...