Solution

What is Green New Deal?

Green New Deal is a combination of Green and New Deal, which means a sustainable development policy centered on the environment and people. It leads to economic stimulus and employment promotion by responding to climate change and investing in the environment such as energy conversion. In conclusion, the government implements environmentally friendly policies for nature destroyed by humans. This Green New Deal policy is largely composed of three parts. It is the green transformation of urban, space, and living infrastructure, the spread of low carbon energy, and the establishment of a green industry innovation ecosystem. The most important of these is carbon neutrality. Currently, carbon emissions from global carbon-based technologies (petrochemicals), industrial and industrial complexes, and thermal power plants are at their peak. Therefore, the Green New Deal is focusing on developing new and renewable energy and absorbing greenhouse gas to offset the carbon emissions.

Renewable Energy

Renewable energy is the energy collected from renewable resources that are naturally replenished over time, such as sunlight, wind, rain, tide, waves, and geothermal heat. In addition, there are hydro and biological resources (biomass). There are so many types of renewable energy. The characteristic of these resources is that they are renewable and do not disappear even when used with oil. In addition, since most of them get energy from natural phenomena, carbon emissions can be drastically reduced. Among these energies, the most popular energy is solar energy(Khan & Arsalan, 2016). The reason is that 99.89% of renewable energy is in a converted form of energy from the sun. Solar energy is the energy that is the source of all the energy on Earth. Humanity has long used solar energy for life, and the oldest of its methods is to build a house facing south. By building the house facing south, you can stay warm in winter by receiving the sunlight well, and stay cool in summer by receiving less light. This method is the most basic of architecture, and even today, it is the first thing to consider when structuring a building.

Since then, we have found a way to use solar energy more directly. It is a solar heating device. This device is a device that generates hot water by heating water through a solar heater and can be used not only for hot water production but also for heating(Hayat et at., 2019). With the development of this technology, water was boiled using solar heat, and electricity was generated through the steam generated at this time. This is a method that can directly replace fossil energy by utilizing solar energy. A method of directly converting solar energy into electrical energy is also being used. It is a method of using silicon cells, so-called solar cells, and when solar energy hits silicon cells, electrons are emitted inside the cells to generate current. By passing this direct current energy through an inverter and converting it into alternating current, it generates alternating current electricity that we can use in real life. In recent years, its use is increasing, from companies that use a lot of electricity to ordinary homes and satellites that are launched into space(Hayat et at., 2019). Equipment using solar energy has the advantage of having little maintenance cost, no pollution, and very long life of the facility once the facility is established.

Of course, there are disadvantages. Its use has been limited so far due to the disadvantage that the initial facility cost is much higher than that of existing electricity production facilities. However, as efforts to lower facility costs continue to be made through continuous technology development, and actual facility costs are gradually decreasing, we will gradually gain a position as a major energy resource to replace fossil fuels. Like this, if sufficient development is achieved, it can replace most of the fossil energy. With this possibility, a lot of investment is being made worldwide to utilize this renewable energy. According to the 2022 budget of the Ministry of Strategy and Finance of Korea, it plans to invest 12 trillion won in 2050 carbon neutrality and 33.7 trillion won in the Korean New Deal 2.0(Ministry of Strategy and Finance of Korea, 2021). Of these, about 7.5 trillion won will be invested in developing renewable energy. Globally, a plan is being implemented to zero carbon emissions by 2050 through these investments. If the carbon emission reaches zero, it will slowly return to its original Earth through Earth's resilience and the beginning is the development of renewable energy through the Green New Deal.

Carbon Emission

It is also very important to absorb the emitted carbon in the same way as reducing the amount of carbon emitted through the use of renewable energy. We know that trees absorb carbon and spit out oxygen through photosynthesis. Therefore, many efforts are being made to protect forests and compose the new carbon sink to absorb carbon. There are two common approaches. One is using chemical reactions for absorbing carbon and the other is protecting the natural environment. The example of using chemicals is research of alkanolamines (Gabitto & Tsouris, 2018). The research model clearly proposes the possibility of absorbing carbon through the chemicals and controlling the carbon-14 in the form of CO2 which can be useful in various fields. This model has high potential in industrial fields. There are many parts where carbon emissions from factories are inevitable. If carbon absorption using such a chemical reaction is further developed, it will be possible to immediately absorb the emission of idealized carbon from the factory and control the emission of only a very small amount. In addition to these development efforts, efforts to preserve the environment must also be made. The importance of preserving natural environments such as forests and swamps has been emphasized for a long time. Through photosynthesis in nature, carbon dioxide is absorbed and oxygen, which is essential to humans, is released. Therefore, the protection of the natural environment plays an absolute role in the absorption of carbon. However, the damage to the natural environment has continued seriously in recent decades. According to the scientists, almost 17% of the Amazon rainforest has been destroyed and if over 20% or 25% of Amazon rainforest is destroyed, scientists anticipate that the tipping point of serious climate change which causes the serious sea level rise will be occurred. Therefore, astronomical money is invested every year to preserve this natural environment around the world. As an example, president of the United States, Joe Biden, announced that he will invest $2 trillion to combat these climate change and introduce environmental policy (Glueck & Friedman, 2020). These efforts are expected to prevent sea level rise, which is concentrated in extreme situations.