Net Zero = Renewable

The UN climate conference (COP26) has brought in a widespread engagement to catalyse a net-zero future. Calling people as the agents of change, different roles and ways were highlighted for building a climate-resilient future this year. It highlighted the role of systemic government inter ventions with the support of citizens. Countries would meet next year to pledge cuts to CO2 emissions and aim to limit temperature change within 1.5C. This, if achieved, is expected to limit “climate catastrophe”. This way, global warming will be limited to 2.4C. The role of renewable energ y at source was highlighted. Coal, it was cited contributes to 40 per cent of annual CO2 emissions. At COP 26, it was agreed, the use of coal will be “phased down” and not “phased out” in a crucial last-minute change led by India and China making for a hot debate. To do so, global emissions need to be reduced by 45 per cent by 2030 and to nearly zero by mid-centur y. Interestingly, it was agreed to phase-out subsidies known to artificially lower the price of coal, oil or natural gas. Financial organisations controlling USD 130 tn also agreed to back renewable energ y and committed to direct finance away from fossil fuelburning industries. However, critiques have been quick to point out the absence of such a commitment for ending support to fossil fuels altogether. With ever y issue of ACI, we endeavour to highlight the early adopters of these changes. It’s an effort that needs to be lauded! Please watch out for the nomination forms of the sixth ACI Awards 2022 in our upcoming issue.

At COP 26, it was agreed, the use of coal will be “phased down” and not “phased out” in a crucial last-minute change led by India and China making for a hot debate.