The bad news about global warming continues unabated. This fall the United Nations Intergovernmental Panel on Climate Change (fondly referred to as the IPCC) sent up an emergency flare. According to Amjad Abdulla an IPCC board member and chief negotiator for the Alliance of Small Island States, “The report shows that we only have the slimmest of opportunities remaining to avoid unthinkable damage to the climate system that supports life, as we know it.“ Obviously, small island states are at the most immediate risk. But if the earth’s warming trend continues, many populated areas around the globe will essentially be uninhabitable.
I read the entire report. It’s complex, dense, hard to understand and full of bureaucratese. There were two conclusions in the report that were especially surprising to me. First, unless the world acts immediately and intensively, there is almost no chance that global warming will be less than 1.5 degrees Celsius. The reason is that there is a lot of inertia in the earth’s climate system — we are already on a rapid warming trend. The second conclusion is that an immediate worldwide investment of roughly $900 billion per year will be required to stay below this 1.5% threshold.
On a positive note, I learned a lot of new TLAs (Three Letter Acronyms). My personal belief is that our grandchildren will be saddled with the economic and sociological disruptions that global warming will cause. Nevertheless, there is a large portion of our population that remains skeptical about global warming and its potential impacts. One reason for this global warming divide relates to economics. Some industries — particularly those dependent on fossil fuels — will be negatively impacted (“harmed” is the non-bureaucratic term). On the other hand there will be many industries that will benefit…not only solar and wind, but also from all the jobs created from the transition away from fossil fuels: EVs, heat pumps, more extensive electrical infrastructure, control systems and as yet undeployed new energy technologies.
As an solar enthusiast, I’m obviously biased. But the consequences of global warming are so severe that even the skeptics should consider immediate action as a form of an insurance policy. In case the skeptics are wrong about global warming, an investment now can avoid a disaster later. For more about the IPCC’s recommendations to stabilize and reverse global warming, listen to this week’s Energy Show.