Gulf Business

The real deal

How can you tell real climate solutions from false ones

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False solutions to cutting planetwarm­ing carbon emissions aren’t new. But the number of people hawking those answers, and the money being spent on them, has grown substantia­lly in the last few years.

The world’s 10 largest economies now have a goal to reach net-zero emissions within decades. It’s a big business opportunit­y that’s prompted all kinds of people to finally pay attention to the climate problem. It’s no longer just cranks emailing about a perpetual-motion machine they invented in their garage. Journalist­s regularly get press releases talking up everything from how multinatio­nal corporatio­ns are solving the climate crisis by encouragin­g recycling to claiming their products are “sustainabl­y sourced” when they aren’t. Sometimes the greenwashi­ng oozes from these solutions, but often it’s hidden through sophistica­ted tricks. As we start a new year, here are some quick ways to test whether a climate solution is worth paying attention to.

SADLY, CLIMATE CHANGE WON’T BE SOLVED BY KILLING WEREWOLVES. THAT DOESN’T STOP MANY FROM DECLARING THAT, SAY, IF ONLY THE WORLD COULD ADOPT CARBON TAXES OR FUND THE DEVELOPMEN­T OF NUCLEAR FUSION, WE WOULD STOP WARMING THE PLANET

SMELLS LIKE GREENWASHI­NG? Some solutions are framed as a bandage that’s needed before the real solution arrives. Carbon offsets fall into this category. Done properly, the credits may prove to be a way to erase a tiny sliver of global greenhouse gas emissions. That potential, however, is often stretched beyond plausibili­ty to justify much more dangerous ongoing pollution.

FOUND THE SILVER BULLET?

Sadly, climate change won’t be solved by killing werewolves. That doesn’t stop many from declaring that, say, if only the world could adopt carbon taxes or fund the developmen­t of nuclear fusion, we’d stop warming the planet. Always be wary of someone claiming to have the one and only answer to such a multifacet­ed problem.

IS IT TOO GOOD TO BE TRUE?

That old saying stands the test of time. It’s not to say that wacky ideas aren’t welcome. But they need to prove applicable outside a laboratory. Consider the story of Global Thermostat, a US-based startup that promised to build machines that could suck carbon dioxide from the air very cheaply, but has almost nothing to show after a decade.

IS IT JUST MARKETING?

Ideas often gain credibilit­y when people you trust support them. That’s not always enough. Just look at the growing sums of money going toward ESG funds that support companies supposedly tackling environmen­tal, social and governance issues. The reality is that sustainabl­e investing is really about sustaining bottom lines, not

the planet.

HOW WILL GOVERNMENT POLICIES BE IMPLEMENTE­D? Not all measures work as advertised. Some backfire, and spectacula­rly so.

WHAT ARE THE KNOCK-ON EFFECTS?

The clamour for climate solutions is coming from many parts of society. The sale of a company, for example, may help take some carbon emissions off one balance sheet, but inadverten­tly end up increasing overall emissions.

This is not an exhaustive list, but it gives you an idea of how to weed out some bad solutions. As companies and government­s come under more pressure to disclose their emissions, it’s slowly becoming easier to keep track how they’re doing. Ultimately the question remains: are their emissions dropping as quickly as the science demands?

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