The World has grown ambitious and the new obsession has been around declaring and achieving Emission targets.
Realizing the climate change as one of the biggest threats, various governments have even declared their ongoing plans to become Net-zero.
Although experts have been dicey on these objectives towards the planet’s sustainability as the current targets to reduce the emissions are too less to even achieve Carbon neutrality by 2039.
But can we expect to even reduce carbon, lest alone achieve Net-zero without limiting our fossil fuel use?
Because as per International Energy Agency IEA’s recent warning, global carbon dioxide emissions are expected to rise this year at their second-fastest pace ever.
Consequently, the report called “Net-zero by 2050: A roadmap for the global energy sector” had to include ambitious steps for next 30 years to limit such unchecked emissions.
According to The Independent, IEA has proposed a “first-of-its kind blueprint for how the global energy sector can effectively end its contribution to the climate crisis by the middle of the century”, which it calls the “New Zero Roadmap”.
The agency’s calculations state that even if current climate goals (respective NDCs) from all countries in the world are achieved, the pledges “still fail to cover 22bn tons of carbon dioxide emissions worldwide in 2050”.
Extreme changes across the face of Earth are still visible to ascertain the fact that human race has done enough for the destruction but not yet enough for Nature’s rejuvenation.
It calls the Governments around the world to be serious and to “act now” if they do not want another bigger crisis on their ways.
Energy sector and its afflictions on Emissions:
The report has single-handedly chalked out Energy sector as the main polluter, responsible for 75 percent of total emissions, driving up global temperatures and destabilizing the innate balance on Earth.
Also, it is indeed the first time IEA has called for such drastic steps to be taken for curbing emissions.
According to the report, fossil-fuel based energy consumption within Countries may shatter all hopes of reducing such dangers and limiting Climate change as per our targets.
Mentioned clearly are the bans against new developments in coal, gas and oil projects including gas boilers, or petrol and diesel cars being denied its life fuel.
And here we ask:
What shall happen if we stop oil, gas and coal extraction immediately?
What changes it can possibly inflict on our economies and societies when a common resource is no longer being available?
Or will the alternatives be able to provide our Businesses with supple growth?
First of all, its not feasible as well as advisable to stop extracting and using fossil fuels in one go, it needs gradual decrease. Everything in an economy, development, lives, livelihoods depend on these evil sources of energy.
Gradual transition can help with the arrival, increased usage and smooth adoption of low-carbon based renewables in the market.
This has to happen not only for Electricity or transport: the major chunks, but also for the ones left untouched like chemical Industry.
For instance, the manufacture of plastics or fertilizer used with such fuels is technically possible with biomass (organic material from plants and animals ultimately yielding fossil fuels under appropriate pressure) too.
According to IMF the subsidies for pushing renewables across the world stand at US$4.7 trillion per year which is remarkable.
In its report it also noted that although a decrease in fossil fuel usage has been seen currently due to Pandemic induced procrastination. But it will likely rise once the things stabilize.
Meanwhile our renewable energy share has also increased, currently accounts for 25% of global Electricity production and tends to increase in upcoming future based on our measures.
But we know that the response coming from different countries varies. New Zealand, for example, produces around 85% of its total electricity from renewables including hydro, wind, solar and geothermal.
Fueling Economies at large and cheap:
It is interesting to note that choices for renewables are available in plenty but the “displacement” required from Conventionals to the Renewables is not easy.
This happens because of the low-cost factor being exploited by the fossil-derived energy.
Looking at the social perspective, one can also guess that a fast switch to this “displacement” might not be in-favor of the have-nots.
A gradual transition along with the inputs from the Government, can be all inclusive making it a “just transition” such that people from all backgrounds can adapt to the imposed changes.
Changes, in complete depth, cannot happen overnight.
Governments around the World will have to work harder to change people’s behavior around these green sources of energy as it comes with its own cost, if devoid of any environmental cost.
G7 and the Fight against Fossil-fuels:
The world’s seven largest so-called advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States composing G7 have already up the ante for emissions coming out of non-clean sources.
This online meeting has been led by the UK.
The G7 have appropriately engaged their Environment Ministers to keep the climate targets in line and thereby limiting the rise in global temperatures to 1.5C.
Their decision even involves stopping the direct funding for coal-fired power stations in poorer nations by the end of 2021.
Communication from the Ministers said: “We will phase out new direct government support for carbon-intensive international fossil fuel energy.”
For restoration, G7 have decided to allocate 30% of land for nature by 2030 for boosting the wildlife and trees to eat-up carbon emissions.
All this is welcomed but it has to be seen still how do these economies impose changes for themselves. Will their policies be compliant to the ones required to limit warming?
For example, the UK that calls itself “heavily influenced by the recent report” but has strictly denied revoking the recent North Sea drilling licenses.
A major challenge for India: Still willing to increase Fossils’ exploration
The G7 ministers in the meeting have agreed to encash and help the much needed, fast-growing economies such as India and Indonesia get clean technology.
But according to a draft electricity policy document, India is planning to build new coal-fired power plants because of their ability to generate the cheapest power.
“While India is committed to add more capacity through non-fossil sources of generation, coal-based generation capacity may still be required to be added in the country as it continues to be the cheapest source of generation,” the NEP (not yet Publicly available) draft read.
Needed for India’s various schemes like Sahaj Bijli Har Ghar Yojana – Saubhagya, the demand for more power is ever increasing, coupling with a few others like UDAN Yojna triggering connectivity across regions.
More flights mean more fuel required.
For India, Coal accounts for nearly three-fourths of India’s annual power output although Solar and wind power prices are falling repeatedly for ease.
Our country is seriously struggling to comply with its public needs, that yearns for an awareness in energy use but is unable to open up to its cause yet.
On the other hand, it has pressure to comply with changing World needs to stay relevant.
Now at such crossroads, it depends on the country’s priority in entirety how to be sustainable around fulfilling one’s indispensable needs for which our Experts can come to rescue.
In this manner, European experts have rightly asked: “It’s a question of us saying ‘this is what we are doing to protect the planet – what are you going to do to protect yourselves and the planet?'”.