Thursday, June 29, 2017

We have three years to turn the corner on climate

That title probably hit you like a cancer diagnosis. But take a breath and then let's do what new cancer patients do: investigate the most effective treatments and get busy pursuing them. And maintain hope.

According to an article in Nature, if we don't turn the curve on greenhouse gases in the next three years, we won't have enough time to change our economy without major disruption. Here is the six point plan:

These goals may be idealistic at best, unrealistic at worst. However, we are in the age of exponential transformation and think that such a focus will unleash ingenuity. By 2020, here’s where the world needs to be:
Energy. Renewables make up at least 30% of the world’s electricity supply — up from 23.7% in 2015 (ref. 8). No coal-fired power plants are approved beyond 2020, and all existing ones are being retired.
Infrastructure. Cities and states have initiated action plans to fully decarbonize buildings and infrastructures by 2050, with funding of $300 billion annually. Cities are upgrading at least 3% of their building stock to zero- or near-zero emissions structures each year9.
Transport. Electric vehicles make up at least 15% of new car sales globally, a major increase from the almost 1% market share that battery-powered and plug-in hybrid vehicles now claim. Also required are commitments for a doubling of mass-transit utilization in cities, a 20% increase in fuel efficiencies for heavy-duty vehicles and a 20% decrease in greenhouse-gas emissions from aviation per kilometre travelled.
Land. Land-use policies are enacted that reduce forest destruction and shift to reforestation and afforestation efforts. Current net emissions from deforestation and land-use changes form about 12% of the global total. If these can be cut to zero next decade, and afforestation and reforestation can instead be used to create a carbon sink by 2030, it will help to push total net global emissions to zero, while supporting water supplies and other benefits. Sustainable agricultural practices can reduce emissions and increase CO2 sequestration in healthy, well-managed soils.
Industry. Heavy industry is developing and publishing plans for increasing efficiencies and cutting emissions, with a goal of halving emissions well before 2050. Carbon-intensive industries — such as iron and steel, cement, chemicals, and oil and gas — currently emit more than one-fifth of the world’s CO2, excluding their electricity and heat demands.
Finance. The financial sector has rethought how it deploys capital and is mobilizing at least $1 trillion a year for climate action. Most will come from the private sector. Governments, private banks and lenders such as the World Bank need to issue many more ‘green bonds’ to finance climate-mitigation efforts. This would create an annual market that, by 2020, processes more than 10 times the $81 billion of bonds issued in 2016.

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