Guest essay by Eric Worrall
By Helen Regan, CNN
Updated 1401 GMT (2201 HKT) December 2, 2020
(CNN)Governments of the world are at a “critical juncture” for shaping the climate’s future but are on course to produce too many fossil fuels in the decade ahead, a new report has found.
To limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) — which scientists say would avoid the most catastrophic impacts of climate change — countries need to wind down their fossil fuel production by 6% every year between now and 2030, according to the 2020 Production Gap report.
Instead, countries are on track to produce an increase of 2% per year.
And as governments pour money into their economies in a bid to recover from the coronavirus pandemic, they risk locking the world into a climate disaster by investing more heavily in fossil fuel industries — such as power, aviation, and car manufacturing, according to the new analysis from the Stockholm Environment Institute, International Institute for Sustainable Development (IISD), Overseas Development Institute (ODI), E3G and the UN Environment Programme.
“We find ourselves at a critical juncture at this time. While global fossil fuel production will dip sharply this year, government action and recovery measures are poised to shape our climate future,” said Ploy Pattanun Achakulwisut, SEI scientist and co-author of the report.
“They could either return to pre-Covid production levels that lock-in severe climate disruption, or they could set the stage for a managed wind down of fossil fuel production.”
…Read more: https://edition.cnn.com/2020/12/02/world/climate-production-gap-fossil-fuels-intl-hnk/index.html
If only all that proposed green energy infrastructure was a genuinely profitable business opportunity, so wealthy people would invest in renewables without demanding the assurance of economically unsustainable government mandates and subsidies.