Doug Sheridan Says
Per the FT and as summarized in the EnergyPoint Research post below, a new report from the UN says the world is way off track to tackle climate change and remains headed for a temperature rise of up to 2.6C and must take urgent action, the first comprehensive UN stocktake of global efforts to limit warming concludes.
The report said countries needed to be “more ambitious in action” and set “more ambitious targets” in order to cut emissions by the required 43% by 2030 and by 60% by 2035 compared with 2019 levels, in order to avert the dire consequences of a warmer planet.
This would mean a “radical” transformation of systems across all sectors, including boosting renewable energy, ending the use of all fossil fuels without the emissions captured, cutting methane and other GHG gases, ending deforestation, and improving energy efficiency.
While renewable energy trends were “highly promising,” with costs falling sharply for solar, wind and batteries between 2010 and 2019, the investment in green energy was still not enough. Global finance for climate action reached about $900bn annually for 2019-20, the report said, but this was less than a third of the $3tn annual investment needed to limit temp rises to 2C or 1.5C.
Our Take 1: The climate crowd likes to throw around the word "denial" for those of us who challenge the must-do climate narrative that's being spun these days. But it's not we who are in denial, it's they who are—simply refusing to accept the fact that their narrative, their goal and their plan won't work. It was inevitable that it would all become clear. Now that it has, they simply refuse to acknowledge the truth staring them in the face.
Out Take 2: This isn't even a doubling... or tripling.... down on efforts to rally the global citizenry to potentially bankrupt itself attempting to pull off the impossible. No, no. It's something like the fifth or sixth cry of "now or never." At some point, simple rationale—ie, the futility of the current course of action—is going to have to take hold in the public psyche.
Our Take 3: Obviously, our takes beg the question as to what we believe a better strategy to be. So we're including a link to that... https://lnkd.in/g2hTnxfm
#climate #cop28