Page 5 - AsiaElec Week 14 2022
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AsiaElec COMMENTARY AsiaElec
and production. This report shows how taking from the UN Secretary General. In an op-ed
action now can move us towards a fairer, more for the Washington Post, António Guterres
sustainable world.” described the report as showing “a litany of bro-
The next three years are critical, says the ken climate promises”, revealing a “yawning gap
report. between climate pledges, and reality.”
Limiting warming of around 1.5°C (2.7°F) High-emitting governments and corpora-
requires global greenhouse gas (GHG) emis- tions are not just turning a blind eye, he wrote;
sions to peak before 2025 at the latest, contin- “they are adding fuel to the flames by continuing
ued the report, and be reduced by 43% by 2030. to invest in climate-choking industries. Scien-
Meanwhile methane, which is largely emitted tists warn that we are already perilously close to
from natural gas, would also need to be reduced tipping points that could lead to cascading and
by about a third. Even if we do this, it is almost irreversible climate effects.”
inevitable that the world will temporarily exceed He also said: “If you live in a big city, a rural
this temperature threshold but could return to area, or a small island state, if you invest in the
below it by the end of the century, said the UN. stock market, if you care about justice, and our
“It’s now or never, if we want to limit global children’s future, I am appealing directly to you.
warming to 1.5°C (2.7°F),” continued Skea. Demand that renewable energy is introduced
“Without immediate and deep emissions reduc- now – at speed and at scale. Demand an end to
tions across all sectors, it will be impossible.” coal-fired power. Demand an end to all fossil fuel
There is a massive funding gap. Financial subsidies.”
flows are as much as three to six times lower than After the report was issued, renewable energy
levels needed by 2030 to limit warming to below lobbyists emphasised as well the role that clean
2°C (3.6°F), said the report, but there is sufficient energy can play.
global capital and liquidity to close investment Heather Zichal, CEO of the American Clean
gaps. However, it relies on clear signalling from Power Association, said: “How many more
governments and the international community, times must we be reminded about the urgency
including a stronger alignment of public sector of aggressively ramping up the deployment of
finance and policy, said the report. clean energy? The third instalment of the IPCC
“Without taking into account the economic report reinforces what we have long known: we
benefits of reduced adaptation costs or avoided already have carbon-free energy sources that are
climate impacts, global gross domestic product affordable, reliable and enhance resilience.
would be just a few percentage points lower in “Wind, solar, and storage are mainstream
2050 if we take the actions necessary to limit energy technologies that can compete, and win,
warming to 2°C (3.6°F) or below, compared to in the energy marketplace. The report reminds
maintaining current policies,” said IPCC Work- us that we have the tools we need – the major
ing Group III Co-Chair Priyadarshi Shukla. roadblock to success is long-term certainty and
The report also prompted a strong response predictability in our policies.”
Week 14 06•April•2022 www. NEWSBASE .com P5
