An energy transition
It’s accepted that the most significant system transition required to tackle climate chaos and limit emissions is the swift shift from fossil fuels to renewable energy; requiring an ordered withdrawal from fossil fuels and a trillion dollar a year investment in renewables.
From wildfires to droughts, floods and mass extinction of species, we are assailed by the realities of climate change day in and day out. So what’s the good news?
We have the technology we need. It’s mature, proven, quick to deploy, and excellent value for money. Solar joins onshore wind as the cheapest option for electricity generation in every developed country (except Japan), according to Bloomberg’s analysis.
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During 2019, wind and solar generation increased by 15% and now generates 8% of the world’s electricity. This may seem like excellent double digit growth. However, to meet the Paris target (which is now not regarded as ambitious enough), 15% compound growth is required every year and this becomes more demanding as the numbers get bigger. Alongside this massive growth, we also need a revolution in electrification (of heat and transport), and in smart storage.
In response to it making financial sense, a growing number of companies, cities, states and regions are de-risking their operations by shifting away from volatile fossil fuels and committing to zero carbon.
It’s these innovative leaders who provide evidence and hope that this way of operating can become mainstream.
Decade of action
If COVID has taught us anything, it’s how adaptable we are and what we can achieve in the shortest of timescales when we need to.
The unfolding climate crisis requires the same urgency; the same level of inventiveness, agility and change.
The human race has the ingenuity to solve any problem within a decade, which is why we support the call to make this the decade of action. With the daily evidence around us of increasing temperatures and the chaos caused, let’s unite to: