Sunday, July 21, 2019

A clear path to 2050

The Paris Agreement dealing with GHG emissions mitigation, ­adaptation, and finance, was signed by almost 200 countries in 2016.  Its goal is to keep the increase in global average temperature to well below 2 °C above pre-industrial levels. (It is generally agreed that limiting the increase to 1.5 °C would substantially reduce the risks and effects of climate change, but temperature increases in parts of Canada’s north are already close to double that.)

Each country must determine, plan, and report on the contribution that it undertakes – generally in reducing the use of fossil fuels for transportation and electricity production. It has been proposed by the Green Party that Canada set a goal of eliminating the use of ­fossil fuels by 2050. Others have similar, less drastic, ideas, but no political party, industry or economic sector has laid out a clear path or timetable to achieve this.

And here’s an explanation of the first two lines of the haiku… Even though any comprehensive schedules for such massive, years-long undertakings will require constant adjustment and fine-tuning you have to start somewhere. The third line refers to clean transition bonds, a proposed new financing tool that would enable Canada’s energy and other carbon-intensive industries to finance emission reduction and leverage opportunities for process improvement and new product development.