IPCC Report: Fossil Fuels Should Be 'Phased Out by 2100'
Today, the Intergovernmental Panel on Climate Change (IPCC)—the world body for assessing the science related to climate change—released the final component of its Fifth Assessment Report, the Synthesis Report in Copenhagen, Denmark.
The IPCC report states that "Human influence on the climate system is clear and growing, with impacts observed on all continents. If left unchecked, climate change will increase the likelihood of severe, pervasive and irreversible impacts for people and ecosystems."
The report details how "options are available to adapt to climate change and implementing stringent mitigations activities can ensure that the impacts of climate change remain within a manageable range, creating a brighter and more sustainable future."
The Synthesis Report was produced by more than 800 scientists and is the most comprehensive assessment of climate change ever undertaken.
“We have the means to limit climate change,” said R. K. Pachauri, chair of the IPCC. “The solutions are many and allow for continued economic and human development. All we need is the will to change, which we trust will be motivated by knowledge and an understanding of the science of climate change.”
The report concludes that:
- emissions of greenhouse gases and other anthropogenic drivers are the dominant reason for observed warming since the mid-20th century.
- renewables will have to grow from their current 30 percent share to 80 percent of the power sector by 2050.
- fossil fuel power generation without carbon capture and storage technology would need to be "phased out almost entirely by 2100."
- impacts of climate change are felt on all continents.
- continued emissions of greenhouse gases will cause more warming and long-lasting changes to the climate, "increasing the likelihood of widespread and profound impacts affecting all levels of society and the natural world."
- climate risks are a particular challenge for the least developed countries.
“This landmark report makes it absolutely clear: we must rapidly transition to a clean energy economy free from dirty fossil fuels, and we must do it now," said Sierra Club Executive Director Michael Brune. "In the starkest terms ever used, the scientific community is looking world leaders directly in the eye and demanding that they wake up. To fight global poverty, sustain stable governments and societies, and maintain a livable planet, all findings indicate that we should kick fossil fuels to the curb. The silver lining to the report is that it recognizes clean energy climate solutions are affordable and ready to deploy."
Nations have collectively agreed that beyond two degrees of warming, the risks posed by climate change could be irreversible.
“The scientific case for prioritizing action on climate change is clearer than ever,” Pachauri said. “We have little time before the window of opportunity to stay within 2ºC of warming closes. To keep a good chance of staying below 2ºC, and at manageable costs, our emissions should drop by 40 to 70 percent globally between 2010 and 2050, falling to zero or below by 2100. We have that opportunity, and the choice is in our hands.”
Today's report, the clearest guide yet from scientists on why we need to reduce climate risk, says that if all governments work to cut emissions, we can still keep the risks of climate change low. With the right policies we can prevent dangerous climate change, allow ecosystems to adapt and ensure countries can develop sustainably, the IPCC concludes.
"As momentum for global action builds, this report reminds us that the impacts of climate change are dangerous and far-reaching. No one reading this report can doubt the reality of climate change," said Jennifer Morgan, director of the Climate and Energy Programs at World Resources Institute.
"Unless we sharply reduce carbon pollution, the toll on our economies and people’s well-being will be far more than we can bear. The good news is that solutions are well understood. A growing body of evidence finds that action on climate change can go hand-in-hand with policies that will strengthen our economies. The synthesis report should bring a deep sense of purpose to the climate talks in Lima. Negotiators need to lay the groundwork for a strong and universal climate agreement to be finalized in Paris next year."
Watch the Fifth Assessment Synthesis Report press conference today in Copenhagen, Denmark:
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While traditional investment in the ocean technology sector has been tentative, growth in Israeli maritime innovations has been exponential in the last few years, and environmental concern has come to the forefront.
theDOCK aims to innovate the Israeli maritime sector. Pexels<p>The UN hopes that new investments in ocean science and technology will help turn the tide for the oceans. As such, this year kicked off the <a href="https://www.oceandecade.org/" target="_blank" rel="noopener noreferrer">United Nations Decade of Ocean Science for Sustainable Development (2021-2030)</a> to galvanize massive support for the blue economy.</p><p>According to the World Bank, the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem," <a href="https://www.sciencedirect.com/science/article/pii/S0160412019338255#b0245" target="_blank" rel="noopener noreferrer">Science Direct</a> reported. It represents this new sector for investments and innovations that work in tandem with the oceans rather than in exploitation of them.</p><p>As recently as Aug. 2020, <a href="https://www.reutersevents.com/sustainability/esg-investors-slow-make-waves-25tn-ocean-economy" target="_blank" rel="noopener noreferrer">Reuters</a> noted that ESG Investors, those looking to invest in opportunities that have a positive impact in environmental, social and governance (ESG) issues, have been interested in "blue finance" but slow to invest.</p><p>"It is a hugely under-invested economic opportunity that is crucial to the way we have to address living on one planet," Simon Dent, director of blue investments at Mirova Natural Capital, told Reuters.</p><p>Even with slow investment, the blue economy is still expected to expand at twice the rate of the mainstream economy by 2030, Reuters reported. It already contributes $2.5tn a year in economic output, the report noted.</p><p>Current, upward <a href="https://www.ecowatch.com/-innovation-blue-economy-2646147405.html" target="_self">shifts in blue economy investments are being driven by innovation</a>, a trend the UN hopes will continue globally for the benefit of all oceans and people.</p><p>In Israel, this push has successfully translated into investment in and innovation of global ports, shipping, logistics and offshore sectors. The "Startup Nation," as Israel is often called, has seen its maritime tech ecosystem grow "significantly" in recent years and expects that growth to "accelerate dramatically," <a href="https://itrade.gov.il/belgium-english/how-israel-is-becoming-a-port-of-call-for-maritime-innovation/" target="_blank" rel="noopener noreferrer">iTrade</a> reported.</p><p>Driving this wave of momentum has been rising Israeli venture capital hub <a href="https://www.thedockinnovation.com/" target="_blank" rel="noopener noreferrer">theDOCK</a>. Founded by Israeli Navy veterans in 2017, theDOCK works with early-stage companies in the maritime space to bring their solutions to market. The hub's pioneering efforts ignited Israel's maritime technology sector, and now, with their new fund, theDOCK is motivating these high-tech solutions to also address ESG criteria.</p><p>"While ESG has always been on theDOCK's agenda, this theme has become even more of a priority," Nir Gartzman, theDOCK's managing partner, told EcoWatch. "80 percent of the startups in our portfolio (for theDOCK's Navigator II fund) will have a primary or secondary contribution to environmental, social and governance (ESG) criteria."</p><p>In a company presentation, theDOCK called contribution to the ESG agenda a "hot discussion topic" for traditional players in the space and their boards, many of whom are looking to adopt new technologies with a positive impact on the planet. The focus is on reducing carbon emissions and protecting the environment, the presentation outlines. As such, theDOCK also explicitly screens candidate investments by ESG criteria as well.</p><p>Within the maritime space, environmental innovations could include measures like increased fuel and energy efficiency, better monitoring of potential pollution sources, improved waste and air emissions management and processing of marine debris/trash into reusable materials, theDOCK's presentation noted.</p>
theDOCK team includes (left to right) Michal Hendel-Sufa, Head of Alliances, Noa Schuman, CMO, Nir Gartzman, Co-Founder & Managing Partner, and Hannan Carmeli, Co-Founder & Managing Partner. Dudu Koren<p>theDOCK's own portfolio includes companies like Orca AI, which uses an intelligent collision avoidance system to reduce the probability of oil or fuel spills, AiDock, which eliminates the use of paper by automating the customs clearance process, and DockTech, which uses depth "crowdsourcing" data to map riverbeds in real-time and optimize cargo loading, thereby reducing trips and fuel usage while also avoiding groundings.</p><p>"Oceans are a big opportunity primarily because they are just that – big!" theDOCK's Chief Marketing Officer Noa Schuman summarized. "As such, the magnitude of their criticality to the global ecosystem, the magnitude of pollution risk and the steps needed to overcome those challenges – are all huge."</p><p>There is hope that this wave of interest and investment in environmentally-positive maritime technologies will accelerate the blue economy and ESG investing even further, in Israel and beyond.</p>
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