A Country Mile - Losing the Fight to Fend Off Climate Catastrophe
If humanity is to avert catastrophic climate change we really have to up our game. Current plans are estimated to fall 60 per cent short of what's needed to achieve "net zero" by 2050.In its annual World Energy Outlook, redesigned this year as a “guidebook” for world leaders attending the summit in Glasgow, the IEA predicted that carbon emissions would decrease by just 40% by the middle of the century if countries stick to their climate pledges.
The organisation said the difference between current plans and the change necessary to reach the net zero target was “stark”, requiring up to $4tn (£2.94tn) in investment over the next decade alone to bridge the divide.
The IEA’s executive director Fatih Birol told the Guardian that major economies recovering from Covid-19 were already missing the opportunity to spur investment in clean energy.
“We are witnessing an unsustainable recovery from the pandemic,” he said, pointing to sections of the report that show coal use growing strongly, contributing to the second-largest increase in CO2 emissions in history.
The government of Canada has arrived at the point where it has to decide whether to fish or cut bait. Are we really going to squander billions upon billions of dollars pushing through an expanded pipeline intended for just one purpose, to flood world markets with the filthiest, low-value, high-carbon fossil fuel, bitumen. Yes or no.