An important year for climate war
The vaccine has arrived, and there is hope for control of the Corona pandemic. And if that is the case, the world’s most important climate issue will come up again.
The United States is covered in orange smoke. The incident took place at the Golden Gate Bridge in San Francisco, California. According to experts, climate change, oil spills, and deforestation have made such colour in the sky.
The year 2021 is indeed very important in the fight against climate change. An explanation of why this is so important can be found in a special article by Justin Rowlatt, the BBC’s chief environmental correspondent.
The article was published on BBC Online on Friday, January 15, 2021. Justin Rowlatt has highlighted five things in bold.
In 2020, the talk of climate change was suppressed by the Corona pandemic. Now the vaccine is in hand. It is hoped that the situation will be brought under control soon. As a result, discussions on climate change are expected to pick up again in 2021.
This year, 2021, is really important in the fight against climate change. Because, there is very limited time at hand to take steps to save the world from the harmful effects of global warming. An explanation of why the year is so important in this fight is found in a special article by Justin Rowlatt. Justin Rowlatt has highlighted 5 things in bold.
1. Glasgow Climate Conference
Following the historic Paris Conference of 2015, world leaders will gather in Glasgow, Scotland in November. In Paris, for the first time, virtually all countries of the world agreed on a climate issue. The announcement came, everyone will work together. The problem is that countries have failed to deliver on their promises to. meet their carbon emission reduction targets as promised.
That’s right, at the end of the century, global warming will be limited to 2 degrees Celsius in the pre-industrial period. If possible, keep it at 1.5 degrees Celsius. But in the current reality, within 12 years, the rise in temperature will be 1.5 degrees Celsius; at the end of the century it will rise above 3 degrees Celsius.
Hopefully, under the Paris Agreement, the countries are committed to expressing their ambition to reduce
carbon emissions every five years. As such, the Glasgow conference could have taken place in November 2020. In the Corona situation it goes backwards. An announcement to strengthen carbon emissions could be made at a conference in November.
2. Adults are on the right track
The world has already seen progress. The unexpectedly big announcement came from China. Speaking at the UN General Assembly in September, Chinese President Xi Jinping said his country had set a goal of becoming carbon-neutral by 2060. China is responsible for 28 percent of global carbon emissions.
However, the United Kingdom is one of the largest economies in the world. In June 2019, they pledged to be the first country to be carbon-neutral. The same announcement came in March 2020 from the European Union (EU). Later, about 110 countries, including Japan and South Korea, followed the same path.
Their goal is to become a carbon-neutral country by the middle of the century. According to the United Nations, these countries represent economies with more than sixty-five percent of global carbon emissions and more than seventy percent. And with Joe Biden elected president of the United States, the world’s largest economy will also play a big role in reducing carbon emissions.
3. Cheap renewable fuel
There is a big reason behind the announcement of being carbon-neutral from so many countries. Renewable energy is now cheaper than ever. This is changing the whole calculation of carbon emissions. In many countries, the cost of generating electricity with renewable energy is now lower than with fossil fuels.
Investment in wind, solar and battery sectors will increase in the next few years. Prices will drop so much that everyone will shut down existing coal-gas-fired power plants. The cost of renewable energy follows the basic premise of the manufacturing sector — the more production, the cheaper. Think about the meaning.
Investors will no longer have to endure the persecution of environmentalists. They can only run after money. And governments know that increasing the contribution of renewable energy to their own economies will accelerate global energy transformation. As a result, renewable energy will be cheaper.
4. Corona has changed everything
I may have thought for so long that our roots are very strong. The coronavirus has cracked that belief. Now it seems that the world is heading for an end in which we have no control. Again, the Corona has been hit hard by the Great Depression, the worst since the Great Depression of the 1930s.
Governments have taken various incentive packages to heal the wounds of the economy. The good news is that the path to investment has become much easier. Global interest rates are hovering around zero, even in the negative. The EU and Biden’s new US administration are taking advantage of this.
They have pledged trillions of dollars to keep the economy afloat and reduce carbon emissions. These measures will reduce the cost of renewable energy worldwide. They have also announced additional taxes on products from high-carbon countries. As a result, those countries will be forced to be straight.
5. Tend to eco-friendly business
Businesses are under constant pressure on climate issues. With this, they are considering the declining price of renewable energy. Many organizations are trying to be environmentally friendly. There are also financial reasons. In a few days, the oil-coal based power plant will become obsolete.
So why invest in such an organization or oil well drilling? Why will take the notoriety of carbon-risk? These arguments are going on in the market. Tesla’s share price has skyrocketed this year. It is now the most expensive car company in the world. On the other hand, the share price of Exxon Company has come down.
At one time they were the most expensive companies in the world. Exxon has dropped out of the Dow Jones Industrial Average.
The Dow Jones Index ranks among the thirty largest corporations listed on the U.S. stock exchange.
Overall, there is good reason to be optimistic about efforts to tackle climate change. But it’s all over; it’s not time to say it. Although many countries have ambitions, few have come up with realistic strategies to achieve their goals.
In this context, the biggest challenge for the Glasgow Conference is to get countries to sign policies that will start reducing carbon emissions now.