What do I want?
Beyond the normal world peace and prosperity for all, having a healthy planet with eco-diversity to pass on to future generations is what I want! It sounds a bit coy, but at this juncture, we are already seeing signs that this may not be possible!
The Practical Environmentalist shall answer burning questions in the realm of Climate Change Mitigation and Resilience to help us understand how we can live within the limits of our planet. It will use articles and graphics to shine a light on issues and solutions associated with Climate Change Mitigation and Resilience.
Yes it’s urgent!
We now need to urgently provide for global energy requirements that are within the limits of our planet. Our only planet!
CO2 emissions currently sit at approximately 40 billion CO2 tons per year. The 2018 IPCC Global Warming of 1.5 ºC report estimates the cumulative global CO2 budget from 2018 through to net-zero as around 500 billion tons to limit climate warming to 1.5 ºC with little or no overshoot. Hence, assuming annual CO2 emissions are static, we have about a 12-year window before the remaining global CO2 budget is exhausted.
Given the cumulative budget limit and rate of global decarbonisation, the recent IPCC AR6 report’s view on the need for engineered carbon removal methods, in addition to environmental sequestration enhancements, as a necessary component of Net-Zero mitigation measures is understandable.
Yes it’s Complicated!
In the past, sufficient energy provision was simple for governments. The most significant fundamental energy source was fossil fuels; it provided a means for governmental organisations and companies to create and supply energy at regional population levels. The resulting energy infrastructure required only a few stakeholders to meet the energy consumption requirements of society.
Deep decarbonisation requires harnessing an array of fundamental energy sources, like a mixture of solar and wind, to provide electricity and fuels. Plus, these sources don’t necessarily allow for the production of significant energy quantities. Our energy demands cannot be solely satisfied by sizable onshore and offshore wind farms, so our energy infrastructure will include many installations ranging from 5 kilowatts to 5 megawatts.
So we’ve stepped up the complexity by increasing the number of fundamental sources and the number of facilities. That’s even before we get to issues of inherently intermittent sources. Ah yes! The wind doesn’t blow, and the sun doesn’t shine all the time! Hence the total installed power supply capacity will need to exceed standard peak demand by a margin significantly higher than that required by traditional system configurations. To resolve intermittence, additional capacity and storage will be required to ride through the peaks and troughs.
In this new Net Zero world, Energy Policy needs to grapple with incentivising energy efficiency measures while encouraging the growth of small and large low-carbon energy providers and technical solutions for both energy distributors and users to minimise and manage supply versus demand mismatches.
Low-carbon, in and of itself, also provides another level of complexity. Even renewable technologies will have some carbon life cycle costs. The development and installation of any energy generation, storage and transmission system will release carbon. Inputs from mining, steel and cement industries will likely be required for all infrastructure. End of life activities and processes for deposal or repurposing will also result in carbon emissions.
For the next rise in complexity, there is a potential for each and every energy user to become an energy distributor. Users will draw electricity from grid systems at some times and return it back to the grid systems at other times.
As the path to net-zero will require complex energy production and delivery systems, Energy Policy will have greater complexity than historically. Governments will need multiple leverage mechanisms to provide an all-encompassing energy system that is flexible and meets growing energy consumption requirements.
Yes there’s sufficient technology available!
We often hear the refrain, “We should hold out on dealing with climate change mitigation until renewable technologies are more advanced.”
Advances in renewable energy technologies are now at a stage where the Energy Sector can implement solutions much more cost-effectively than 2 to 5 years ago, let alone 10 to 20 years ago.
Renewable Energy infrastructure now provides electricity at price parity with fossil fuel sources. I’m not talking about price parity with the energy costs since the Ukraine Crisis, but parity with prices from before the recent market shocks.
To deal with the complexity arising in Renewable Energy markets, more than 1.5 million ”enabling” technology patents have been raised. In the year 2000, there were a total of 10,000 patents worldwide. All the patents may not result in commercially viable solutions. Still, the sheer volume shows we are a critical mass point of current technologies available for the energy industry to harness and implement on the Road to Net Zero and Beyond.
Yes there is funding!
Not tackling climate change will have a catastrophic effect on global economies, so in some senses, the concern is redundant.
The International Renewable Energy Agency (IRENA) estimates the global net-zero emissions attainment expenditure will be 30 trillion US dollars cumulatively through to 2050. IRENA forecasted savings will offset and exceed the gross costs; they expect savings of between $2 and $5.50 for each $1 invested in climate change mitigation. That's savings of 61 to 164 trillion USD from improvements in human health and preventing the economic costs of climate change impacts. That’s right, the return is forecasted as an upside benefit.
To provide some context, annual global GDP is around 85 trillion. Hence, mitigation costs will be about 35% of a single year's GDP or an average of 1.2% of annual GDP through to 2050.
World governments are committing budget allocations to align with their National Defined Contributions (NDCs) that contribute directly to Climate Change Mitigation measures along with programs to foster technological development and provide signals for market stability to encourage business investment in renewable energy infrastructure. The combination of government subsidies along with developing price parity for renewable energy compared with fossil fuels will continue to improve the already positive investment environment for business investment.
It also doesn't seem that long ago that Ethical Investment funds were the new kids on the block. Now Environmental Social Government investment funds and bonds are set to make up over a third of the projected 140.5 trillion USD funds held under management globally by 2025.
Yes we can all do something!
As individuals, helping stop climate change may seem a daunting task. While we require major commitments and action from governments and businesses, we have the power to make changes ourselves and influence outcomes for the benefit of our planet.
We can act and apply pressure in meaningful ways to motivate organisations to stop, and hopefully reverse, climate, water and biodiversity crises.
So while our direct individual contribution through our purchasing power and recycling may only contribute in a small way, the collective pressure on business and government organisations will contribute to ensuring a path for a healthy planet.
Each of us has a role in our democracy enabling us to ensure government organisations place necessary legislation and incentives frameworks as leverage for public and private organisations and companies to make choices that balance the true cost to the plant of resources and production.
Each of us has a role as consumers enabling us to demand that companies look for means of improving technology and technology application, and to push expectations of sustainable business practices down through their supply chains.
Each of us has roles as investors, we can ensure our workplace pensions and other investments include ESG funds.
And how is The Practical Environmentalist Contributing
My articles will ease understanding of the issues and solutions associated with Climate Change Mitigation and Resilience.
I’ll endeavour to keep out of the weeds, to provide an overview and knit threads of information together to shine a light on implications of issues and solutions. I’ll not favour any particular technology but provide a broad spectrum of potential solutions.
Hopefully the articles presented on this website will clarify the Climate Change Mitigation and Resilience path to provide information for understanding how to live well while protecting our planet.
Sources:
Bloomberg Research and Analysis
IPCC 2018 Global Warming of 1.5 ºC report
IRENA’s World Energy Transitions Outlook Re-Writes Energy Narrative
If you’d like a specific topic covered or have a question on sustainability issues and solutions, please email Glenda@thepracticalenvironmentalist.org. I’d be more than happy to accept the challenges put forth.
Last Updated: 5-Jun-22