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SUSTAINABILITY & CLIMATE CHANGE

Immediate Action Needed to Keep 1.5°C in Sight, says PRI

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By Thomas Cox

As governments prepare to start the COP26 negotiations at the end of the month, they have been warned that an immediate ramp-up in energy & land use policy is needed to keep the goal of restricting warming to 1.5°C in sight.

According to an analysis by the Principles for Responsible Investment (PRI), this accelerated action – under its Required Policy Scenario (RPS) – would mean:

  • An end to deforestation across the entire globe, ideally by 2025. If not, the energy system has to absorb greater reductions, potentially through bioenergy and carbon capture and storage (BECCs).
  • The elimination of unabated coal in most advanced economies including China by 2035.
  • The phase out of new fossil cars in almost all markets by 2040
  • The transition to 100% clean power globally by 2045.

However, the report finds that far more likely than the Required Policy Scenario is a set of actions it refers to as the Forecast Policy Scenario, which forecasts a “dramatic acceleration of climate policy is likely by the 2025 Paris Ratchet, which could result in warming being held to below 2°C”.

Under this scenario, rapid transformation of the energy industry will see usage of fossil fuels plummet by 60% by 2050, with demand for coal falling by 75% and oil demand dropping after the mid-2020s the PRI said.

The report serves as a stark reminder to policymakers ahead of the crunch COP26 talks in Glasgow.

Alex Bernhardt, global head of sustainability research at BNP Paribas AM, said: “Forward-looking scenarios are critical in a changing world. The discrepancy between the Forecast and Required Policy Scenarios reiterates the fact that we’re not going to get to 1.5°C without serious action: companies, investors and governments committed to achieving net zero by 2050 must accelerate their efforts now more than ever. That is the key message heading into COP26.”

The PRI’s Inevitable Policy Response (IPR) project conducted its ‘forecast policy scenario’ through reviewing 21 “major economies” and surveying more than 200 experts in national climate policy.

Despite carbon dioxide emission falling 80% by 2050 under the Forecast Policy Scenario, the planet has a one in two chance of restricting warming to 1.8°C, the PRI said.

Wind and solar power will make up over 30% of electricity generation by 2030, increasing to over 60% by 2050, the PRI said. “Seismic shifts” in transport will see production of vehicles powered by fossil fuels peak in 2025. The truck sector will transition more slowly but will still be almost fully decarbonised by 2050, the PRI said.

However, in industry the fall in emissions will be slower than in power and transport due to the higher costs involved – with emissions dropping by around 45% by 2050.

Land will become a net sink for carbon dioxide overall by 2050, absorbing one gigatonne of carbon dioxide annually, through the growth of nature-based solutions for environmental challenges and avoiding deforestation, the PRI said.

Some 400 million hectares of pasture and rangelands – an area about twice the size of Mexico – will be replaced with forests, cropland and nature-based solutions globally by 2050. Projects targeting “negative emissions” and avoiding deforestation will be worth $167 billion annually by 2050 with China having the highest deployment of nature-based solutions, the PRI suggested.

Between 2023 and 2025 the world will be at a “policy tipping point” following the ‘global stocktake’ in 2023, when the UN takes stock of the implementation of the Paris Agreement so far, and as countries prepare to submit their third round of climate pledges in 2025, the PRI said. Simultaneously, pressure on governments from investors and businesses will increase.

124 countries representing 70% of global GDP have made net-zero commitments so far, with 48% showing higher ambition than in 2019, the PRI said.

To have a chance of achieving a 1.5°C increase, “governments around the globe would need to pursue immediate policy action which directly intervenes in markets to set performance standards, including strict bans, to drive a step change in the energy system”, the PRI said.

“Failure to pursue such significant policy changes within the next two years would leave a significant ramping up of negative emissions technologies in the 2030s as a potential alternative to keep warming to 1.5°C.

“But given food and land use constraints, and the fact that many technologies are unproven at scale, pushing beyond the already forecasted acceleration in nature-based solutions would also require significant and urgent policy support.

“Policy acceleration in developing nations will be especially critical, reinforcing the importance of significantly increasing climate finance to developing countries and investing in the energy and land use transitions in these countries from both the public and private sector in the coming years,” the PRI said.

IPR is working with partners including BlackRock and BNP Paribas Asset Management to define which data elements are key for asset owners and managers for application in company and sector valuation models.

Fiona Reynolds, CEO of the PRI, said: IPR scenarios for investors encompass both the large-scale market shifts to come in carbon, energy and land use as well as invaluable granular analysis to help guide investment directions.

“The 2021 IPR forecasts signal to investors that they must focus on the transition, 2030 and net zero pathways and the investment opportunities emerging as policy makers respond to growing climate challenges.”

Ashley Schulten, head of ESG Investment, global fixed income at BlackRock said: “The detailed policy forecasts in this work help the market conceptualise the key changes that could occur in energy and land systems across the world if the forecasted climate policy acceleration occurs.”

The IPR forecast coincides with analysis of the climate policies of G20 countries from three investor groups. The G20 is failing to attract the necessary investment in climate solutions for a climate-resilient transition to a low-carbon economy, the Asia Investor Group on Climate Change, the Investor Group on Climate Change and Ceres said.

Argentina, Australia, China, India, Indonesia, Mexico, Russia and Saudi Arabia are among the least attractive countries for green investment in the G20, the investor groups said. “G20 countries have significant work to do to ensure climate risk is effectively managed.”

Courtesy: Environmental Finance


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SUSTAINABILITY & CLIMATE CHANGE

EARTH DAY 2024: Packaging Is the Biggest Driver of Global Plastics Use

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Earth Day, celebrated annually on April 22, marks a global commitment to environmental protection and sustainability. The first Earth Day took place in 1970, ignited by U.S. Senator Gaylord Nelson of Wisconsin, who aimed to raise awareness about environmental issues and mobilize action to address them. Since then, Earth Day has evolved into a worldwide movement, engaging millions of people across the globe in activities such as tree planting, clean-up campaigns and advocacy for environmental policies. Its organizer is EARTHDAY.ORG, a non-profit organization dedicated to promoting environmental conservation and mobilizing communities to take action for a healthier planet.

The theme of this year’s Earth Day is “Planet vs. Plastics” – a theme chosen to raise awareness of the damage done by plastic to humans, animals and the planet and to promote policies aiming to reduce global plastic production by 60 percent by 2040.

As our chart shows, global plastics use has increased rapidly over the past few decades, growing 250 percent since 1990 to reach 460 million tonnes in 2019, according to the OECD’s Global Plastics Outlook, which projects another 67-percent increase in global plastics use by 2040 and for the world’s annual plastic use to exceed one billion tonnes by 2052. As our chart shows, packaging is the largest driver of global plastics use, which is why a rapid phasing out of all single use plastics by 2030 is one of the policy measures proposed under EARTHDAY.ORG’s 60X40 framework.

Other major applications of plastics include building and construction, transportation as well as textiles, with the fast fashion industry particularly guilty of adding to the world’s plastic footprint. “The fast fashion industry annually produces over 100 billion garments,” the Earth Day organizers write. “Overproduction and overconsumption have transformed the industry, leading to the disposability of fashion. People now buy 60 percent more clothing than 15 years ago, but each item is kept for only half as long.” Most importantly, the organization points out that 85 percent of disposed garments end up in landfills or incinerators, while just 1 percent are being recycled.

  1. Infographic: Packaging Is the Biggest Driver of Global Plastics Use | Statista

Felix Richter is a Data Journalist


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SUSTAINABILITY & CLIMATE CHANGE

The Sahara Desert used to be a Green Savannah – New Research Explains Why

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By Edward Armstrong

Algeria’s Tassili N’Ajjer plateau is Africa’s largest national park. Among its vast sandstone formations is perhaps the world’s largest art museum. Over 15,000 etchings and paintings are exhibited there, some as much as 11,000 years old according to scientific dating techniques, representing a unique ethnological and climatological record of the region.

Curiously, however, these images do not depict the arid, barren landscape that is present in the Tassili N’Ajjer today. Instead, they portray a vibrant savannah inhabited by elephants, giraffes, rhinos and hippos. This rock art is an important record of the past environmental conditions that prevailed in the Sahara, the world’s largest hot desert.

These images depict a period approximately 6,000-11,000 years ago called the Green Sahara or North African Humid Period. There is widespread climatological evidence that during this period the Sahara supported wooded savannah ecosystems and numerous rivers and lakes in what are now Libya, Niger, Chad and Mali.

This greening of the Sahara didn’t happen once. Using marine and lake sediments, scientists have identified over 230 of these greenings occurring about every 21,000 years over the past eight million years. These greening events provided vegetated corridors which influenced species’ distribution and evolution, including the out-of-Africa migrations of ancient humans.

These dramatic greenings would have required a large-scale reorganisation of the atmospheric system to bring rains to this hyper arid region. But most climate models haven’t been able to simulate how dramatic these events were.

As a team of climate modellers and anthropologists, we have overcome this obstacle. We developed a climate model that more accurately simulates atmospheric circulation over the Sahara and the impacts of vegetation on rainfall.

We identified why north Africa greened approximately every 21,000 years over the past eight million years. It was caused by changes in the Earth’s orbital precession – the slight wobbling of the planet while rotating. This moves the Northern Hemisphere closer to the sun during the summer months.

This caused warmer summers in the Northern Hemisphere, and warmer air is able to hold more moisture. This intensified the strength of the West African Monsoon system and shifted the African rainbelt northwards. This increased Saharan rainfall, resulting in the spread of savannah and wooded grassland across the desert from the tropics to the Mediterranean, providing a vast habitat for plants and animals.

Our results demonstrate the sensitivity of the Sahara Desert to changes in past climate. They explain how this sensitivity affects rainfall across north Africa. This is important for understanding the implications of present-day climate change (driven by human activities). Warmer temperatures in the future may also enhance monsoon strength, with both local and global impacts.

Earth’s changing orbit

The fact that the wetter periods in north Africa have recurred every 21,000 years or so is a big clue about what causes them: variations in Earth’s orbit. Due to gravitational influences from the moon and other planets in our solar system, the orbit of the Earth around the sun is not constant. It has cyclic variations on multi-thousand year timescales. These orbital cycles are termed Milankovitch cycles; they influence the amount of energy the Earth receives from the sun.

On 100,000-year cycles, the shape of Earth’s orbit (or eccentricity) shifts between circular and oval, and on 41,000 year cycles the tilt of Earth’s axis varies (termed obliquity). Eccentricity and obliquity cycles are responsible for driving the ice ages of the past 2.4 million years.

The third Milankovitch cycle is precession. This concerns Earth’s wobble on its axis, which varies on a 21,000 year timescale. The similarity between the precession cycle and the timing of the humid periods indicates that precession is their dominant driver. Precession influences seasonal contrasts, increasing them in one hemisphere and reducing them in another. During warmer Northern Hemisphere summers, a consequent increase in north African summer rainfall would have initiated a humid phase, resulting in the spread of vegetation across the region.

Eccentricity and the ice sheets

In our study we also identified that the humid periods did not occur during the ice ages, when large glacial ice sheets covered much of the polar regions. This is because these vast ice sheets cooled the atmosphere. The cooling countered the influence of precession and suppressed the expansion of the African monsoon system.

The ice ages are driven by the eccentricity cycle, which determines how circular Earth’s orbit is around the sun. So our findings show that eccentricity indirectly influences the magnitude of the humid periods via its influence on the ice sheets. This highlights, for the first time, a major connection between these distant high latitude and tropical regions.

The Sahara acts as a gate. It controls the dispersal of species between north and sub-Saharan Africa, and in and out of the continent. The gate was open when the Sahara was green and closed when deserts prevailed. Our results reveal the sensitivity of this gate to Earth’s orbit around the sun. They also show that high latitude ice sheets may have restricted the dispersal of species during the glacial periods of the last 800,000 years.

Trucks driving through the desert.
The Sahara desert. Getty Images

Our ability to model the African humid periods helps us understand the alternation of humid and arid phases. This had major consequences for the dispersal and evolution of species, including humans, within and out of Africa. Furthermore, it provides a tool for understanding future greening in response to climate change and its environmental impact.

Refined models may, in the future, be able to identify how climate warming will influence rainfall and vegetation in the Sahara region, and the wider implications for society.

Edward Armstrong is a postdoctoral research fellow, University of Helsinki

Courtesy: The Conversation


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SUSTAINABILITY & CLIMATE CHANGE

COP28: New Draft Text on Climate Deal Published; Calls for Transitioning away from Fossil Fuels

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By Imogen Lillywhite,

A new draft text on global stocktake has been published at the UN climate summit, COP28 UAE, on Wednesday morning. While the draft text does not contain the words “phase out”, it includes reference to transitioning away from all fossil fuels to enable the world to reach net zero by 2050.

The text published by the UN’s climate body calls on parties to accelerate and substantially reduce non-carbon dioxide emissions worldwide with a focus on reducing methane emissions by 2030. “We all want to get the most ambitious outcome possible,” Majid Al Suwaidi, COP28 Director-General, said on Tuesday.

The text, published early Wednesday, does not specifically refer to oil, but mentions the need to ‘phase-down’ coal.  It says that it recognises the need for ‘deep, rapid and sustained reductions in greenhouse gas emissions in line with 1.5C pathways and calls on Parties to contribute to global efforts.

Among those efforts it recognises the need to triple renewable energy capacity by 2030 and doubling the annual rate of energy efficiency improvements by the same date. It also recognises the need to accelerate the phase-down of coal and accelerate towards net zero energy systems, utilising zero or low carbon fuels by mid century.

While the document does not mention oil or combustion engines, it does recognises the need for accelerating the reduction of emissions from road transport on a range of pathways, including through development of infrastructure and rapid deployment of zero and low-emission vehicles. It also recognises the need to phase out inefficient fossil fuel subsidies that do not address energy poverty or just transitions, as soon as possible.

Finance specifics

On the subject of finance, the document said developed countries should continue to take the lead in mobilising climate finance from a wide variety of sources, instruments and channels, noting the significant role of public funds, through a variety of actions, including supporting country-driven strategies, and taking into account the needs and priorities of developing countries.

Such mobilisation of climate finance should represent a progression beyond previous efforts, the text said. It may provide small comfort to campaigners from developing countries who implored Parties to begin the phase out of fossil fuels and provide vastly improved access to funding for renewables.

The document highlights the persistent gap and challenges in technology development and transfer and the uneven pace of adoption of climate technologies around the world.

It further urges Parties to address these barriers and strengthen cooperative action, including with non-Party stakeholders, particularly with the private sector, to rapidly scale up the deployment of existing technologies, the fostering of innovation and the development and transfer of new technologies.

It also emphasizes the ongoing challenges faced by many developing country Parties in accessing climate finance and encourages further efforts, including by the operating entities of the Financial Mechanism, to simplify access to such finance, in particular for those developing country Parties that have significant capacity constraints, such as the least developed countries and small island developing States.


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