It can be done easily and faster, say experts on navigating the energy transition

It can be done easily and faster, say experts on navigating the energy transition

Summary:

  • According to the United Nations, global fossil fuel consumption is “dangerously out of rhythm” with climate targets.

 

  • According to Morgan Stanley, the world now derives roughly 80% of its primary energy supply from fossil fuels and 3% from renewable sources.

 

  • “A just transition for fossil-fuel-dependent countries begins with the recognition that we need to move off of fossil fuels. And then you devote the resources to help their economy and employees shift to sustainable alternatives,” says one expert. Carroll Muffett

Stress on faster Energy Transition

LONDON, UK — The escalating climate crisis emphasizes the critical importance of governments overseeing a speedy transition away from fossil fuels.

However, how governments handle this transition is a hotly debated topic.

Climate scientists have consistently stated that reducing greenhouse gas emissions as quickly as possible is the best weapon for combating rising global temperatures.

The Glasgow Climate Pact, signed at the COP26 summit earlier this month, was the first worldwide climate pact to specifically name fossil fuels. Countries were required to “phase down” coal consumption and “inefficient” fossil fuel subsidies under the final accord.

Global fossil fuel consumption is “dangerously out of sync” with climate targets, according to the United Nations, and environmentalists have campaigned for countries to phase out the fossil fuel economy.

Experts weigh in on the problems of decarbonizing the global economy, as well as how quickly it may be accomplished and some intermediate remedies.

“I’m from Kentucky, and I grew up working in the tobacco industry,” Carroll Muffett, CEO of the non-profit Center for International Environmental Law, told reporters. “I’m familiar with the sensation of tar in my nose. When you’re stripping tobacco in the winter, I know how choking the tar in your lungs feels. And the truth is that the United States began more forcefully regulating cigarettes because it was necessary.”

“Yes, there are a lot of people working in these spaces, but asbestos was the same way before.” These are items that must be removed from our economy.”

An investment into a sustainable future

The idea that the energy transition is from fossil fuels to renewables is false and potentially harmful to a world that will continue to be thirsty for all energy sources, according to the oil producer group OPEC.

He noted that hydrogen might be a part of the solution. “Storage problems accompany electrification, particularly ensuring that supply and demand are balanced.

That is why we believe hydrogen, along with electricity, is critical to energy resilience because it is a readily storable form of energy that can be used with existing infrastructure. The major difficulty is ensuring that the storage capacity of our energy system does not deteriorate during the shift

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