4 areas cop27 should focus on
The Economist identifies 4 areas where the Davos elite needs to focus their energies during COP 27 https://www.economist.com/leaders/2022/11/03/the-world-is-missing-its-lofty-climate-targets-time-for-some-realism
- More investment in solar and renewables and Developing countries
- Need for energy and fossil fuels
- Adaptation and treating our fragile rock as if we are on “another planet”
- Investment in technologies to cool the planet
1. Significant More investment in renewables and developing countries
global investment in clean energy needs to triple from today’s $1trn a year, and be concentrated in developing countries, which generate most of today’s emissions.
Solar and wind power can be cheaper to build and run than more polluting types, but grids need to be rebuilt to cope with the intermittency of the sun and the wind. Concessionary lending and aid from rich countries are essential and a moral imperative.
The developed economies need to absorb the first tranche of losses if things go wrong….. and they will go wrong .
Without give on both sides, the world will bake.
2. Fossil fuels are still needed for growth
fossil fuels will not be abandoned overnight. Europe is scrambling to build import facilities for natural gas, to replace Russian supplies,
For some poorer countries investments in gas, in conjunction with renewables, are still necessary: helping more citizens get life-enhancing electricity
3. Another planet 🌎
Greater efforts must be made to adapt to climate change. The world now faces more floods, droughts, storms and wildfires. These calamities is a matter of life and death.
If the rich world allows global warming to ravage already fragile countries, it will inevitably end up paying a price in food shortages and proliferating refugees.
As the planet bakes there needs to be more radical ways to cool it.
- Technologies to suck carbon dioxide out of the atmosphere,
- “solar geoengineering”, which blocks out incoming sunlight. – solar geoengineering could well be dangerous and would be very hard to govern. But so will an ever hotter world.