At the UN headquarters in New York on September 20, 2023, the Climate Ambition Summit will address all options for combating climate change.
The plan is underway, and the options are as follows:
The first point:
After all the knowledge accumulated over the years about the dangerousness of fossil fuels, subsidies for fossil fuels continue to flow, and this is a real problem.
The Secretary General of the United Nations is opposed to fossil fuel subsidies, which are one of the main causes of global warming, describing any new investment in this area as “illusory”.
“All actors must unite to accelerate a fair and equitable transition from fossil fuels to renewables while halting the expansion of oil and gas, and the financing and licensing of new coal, oil and gas operations,” he said.
The International Monetary Fund (IMF) revealed that $5.9 trillion was spent subsidizing the fossil fuel industry in 2020 alone. This figure includes subsidies, tax breaks and health and environmental damage that have not been factored into the initial cost of fossil fuels.
That’s around $11 billion a day. How can we combat climate change if such sums are allocated to energies that are killing our planet?
Shifting subsidies from fossil fuels to renewable energies not only reduces their use but also contributes to sustainable economic growth, job creation, better public health and greater equality, particularly for the world’s poorest and most vulnerable communities.
The second point:
In order to reverse the dangerous curve of climate change, we need to invest nearly 4,000 billion dollars a year in renewable energies until 2030 to achieve net-zero emissions by 2050. The term “net-zero” refers to the balance between carbon emitted into the atmosphere and carbon removed from it.
In fact, investment in renewable energies will cost much less than subsidizing fossil fuels. Reducing pollution and climate impact alone could save the world up to 4,200 billion dollars a year by 2030.
“Renewable energy is the only path to true energy security, stable electricity prices and sustainable employment opportunities,” said the UN chief.
The third point:
Technology sharing must be facilitated so that renewable energy technologies become a global public good, i.e. accessible to all and not just the wealthy, Efforts must be aimed at removing barriers to knowledge sharing and technology transfer, including barriers linked to intellectual property rights.
The fourth point:
The need to create a very strong industry in terms of components and raw materials for renewable energies is a game-changer. Wider access to all key components and materials is required, from the minerals needed to build wind turbines and power grids to the components needed to produce electric vehicles.
The United Nations International Seabed Authority is currently working with its member states on how to exploit mineral resources as abundant in international waters as those essential to battery manufacture while ensuring effective protection of the marine environment from the adverse effects that can result from seabed-related activities.
The fifth point:
While global cooperation and coordination are essential, national policy frameworks need urgent reform to streamline and accelerate renewable energy projects and catalyze private sector investment.
The technology, capacity and funds for the transition to renewables exist, but policies and processes need to be put in place to reduce market risks to enable and encourage investment while avoiding bottlenecks and bureaucracy.
Nationally determined contributions or individual country action plans to reduce emissions and adapt to climate impacts, must set renewable energy targets that align with the goal of limiting global temperature rises to 1.5°C (2.7 °F
Studies show that to achieve this change, the share of renewable energies in global electricity production must rise from 29% today to 60% by 2030.
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