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Global firms are increasingly adopting greenhouse gas mitigation targets in response to climate change. These targets serve as a spur for carbon mitigation initiatives, provide guidelines to select appropriate mitigation actions, and set the standards to measure the progress of the mitigation efforts. Despite their important functionalities, firm-level mitigation targets have rarely been studied. In this paper we aim to provide a comparative view on mitigation targets set by global firms across different countries and industrial sectors. The analysis focuses on four dimensions, i.e., adoption, metric, scope, and stringency. We find Japan far leads the other major countries in terms of target adoption, but the targets of Japanese firms are generally less stringent. Canadian firms are laggards in both target adoption and target stringency. The mitigation targets are also considerably uncommon among Australian firms. Firms in developing countries fall behind in target stringency and display a significantly greater divergence than developed countries in sectoral adoption rate. The European Union firms are most likely to cover the emissions in their supply chains in targets. Target stringency has substantially tightened from 2005 to 2012. For all the countries in this study, around 95% of the firm-level targets are more stringent than the Intended Nationally Determined Contributions submitted to the Paris Agreement. Setting mitigation target has a significant positive impact on both the likelihood of investing in renewable energy and the amount of investment in renewable energy. However, there is no evidence that more stringent targets lead to higher investment. These findings point to the most pressing issues with regard to corporate mitigation target-setting that policymakers and corporate management should address. [ABSTRACT FROM AUTHOR]

European energy landscape is currently undergoing significant changes shifting from fossil to renewable energy sources. Biomass will continue to play a significant role in decarbonisation efforts. As a pioneer in climate change mitigation, the European Union (EU) can also greatly benefit not only from the wide deployment of bioenergy, but also from Bioenergy coupled with Carbon Capture and Utilization (BECCU). BECCU is a key enabling technology for the energy transition addressing simultaneously the renewable feedstock-based circular economy. Biomass utilization in existing and future power and heat applications addresses the decarbonisation of power and heat sector, while the integration of CO 2 -utilization technologies in these plants enables the valorisation of waste streams via conversion to fuels and chemicals. The current status of bioenergy deployment in Europe is reported, along with a review of the main BECCU technologies and a special focus on valuable recycled bio–CO 2 –derived transport fuels. BECCU enables the decarbonisation of power, heat and transport sector leading to a net zero or even negative emission energy system by 2050. • Review of regulatory framework for Bioenergy with Carbon Capture and Utilization. • Alternative configurations in biorefinery applications are presented. • Implementation of BECCU in combined heat and power plants and in biofuel production. • Applications, carbon capture costs and technology readiness level are assessed. • Use of biogenic CO 2 for transport fuels can boost EU circular economy. [ABSTRACT FROM AUTHOR]

The role of low-carbon energy and trade on the environment has drawn several studies that have looked at issues from different perspectives, thus yielding differing conclusions. Considering the current emphasis on the COP25 conference and the commitment to cut down carbon emissions level, this study also draws strength from the United Nations Sustainable development Goals (UNSDGs) that comprises of positive strides for access to clean and responsible energy consumption (SDGs 7, 12) and climate change mitigation issues (SDG-13). To this end, this study is a timely outlook that underpins the case of the European Union (EU) countries as well as the root cause of anthropogenic activities on clean trajectory of global environment. Hence, we investigate the connection between alternative and sustainable energy source, trade, income and emissions in 27 selected European Union economies by utilizing data covering the period 1990–2017 on an annual frequency. We used second-generation panel model estimators to analyze the relationship between the variables in the long-run. Specifically, the long run results from the MG (Mean Group), AMG (Augmented Mean Group), and CCEMG (Common Correlated Effects Mean Group) estimators reveal that sustainable and alternative energy sources have a negative significant impact on pollutant emissions while trade and income have a positive impact on carbon emissions except that the impact of trade is insignificant. Although the positive impact of openness in trade on carbon emission is insignificant, the positive impact suggests that the free-trade policy that is currently in place in the EU should further incorporate sustainable development goals (SDGs) to avoid the outsourcing of carbon emissions among the member countries. Causality tests reveal a feedback hypothesis between renewable energy, income, trade, and carbon emanations. The investigation proposes expanded utilization of sustainable power source to mitigate carbon emissions in the European Union. • Outlook of EU-27 alternative energy and regional trade. • The panel techniques of common correlated effect is employed. • Alternative energy utilization in the regional bloc aids. • Regional trade policy in the EU could posit environmental hardship. • Real income growth in the region hampers environmental sustainability. [ABSTRACT FROM AUTHOR]