“We’ve lost another decade on climate change”
- Solving climate change requires reduction of greenhouse gases concentration in the atmosphere.
Greenhouse Gas Concentration in the Atmosphere Causes Climate Change Risk
- Greenhouse gases concentration in the atmosphere continue to increase.
- Despite global attention to climate change, improvement in the critical success measure has not been realized to date.
Climate Change Challenge
- The global energy is based on 80% fossil energy sources – coal, oil, and gas. This energy system has resulted from centuries of development and investment
- The emissions points across the globe are known and need a plan to address through a combination of replacement, reconfiguration, modification, and much more.
- Options exist for each emission source and need to be rated based on benefits and costs – seeking the lower system cost solution for addressing each emission source.
- Innovation is needed to reduce cost, improvement efficiency, enable new solutions, and change the underlying demand for energy.
Greenhouse Gas Emissions from the World Contribute to Increasing Greenhouse Gas Concentration
- Greenhouse gas emissions occur from all countries in the world.
- The share of US contribution to greenhouse gas emissions has been decreasing – the problem needs to be address globally.
Climate Change Requires New Investments
- Climate change is also an asset transition problem – need to replace, reconfigure, improve efficiency, and innovate for new solutions.
- There is a global investment required, many estimates exist such as the above McKinsey study.
- Innovation is critical for finding new solutions, reducing costs and enabling an acceptable benefit / cost ratio.
Focus on Major Emissions with Speed
We Need a New Global Approach
- Today’s “activity focused” approach does not ensure net reduction of greenhouse gas concentration. Lack of progress results in calls for additional activity without assurance that improvements will be realized.
- An “improvement focused” approach is needed which begins with all local emission points. Each point needs a plan to address and reduce. New solutions also need to be included as part of future emissions contribution.
- Engagement of all generations is vital with education and understanding of what is required to address climate change and what they can do as part of the solution.