Politicians not markets slow new energy dawn

(Climate News Network, 12 Dec 2019) It is politicians, not economists, who stand in the way of wider adoption of cheap renewable energies across the world.

Often blamed for society’s problems, politicians have now been brought to book for the slow take-up of renewable forms of energy.

These are now so cheap that installation worldwide is happening faster than governments have allowed for in their national plans for action, according to the International Renewable Energy Agency (IRENA).

This shows, IRENA says, that it is politicians, many of whose election campaigns are still financed and overly influenced by the fossil fuel lobby, that are the barrier to tackling climate change, rather than any lack of available technology.

A report by IRENA, using calculations made by Carbon Action Tracker, says that as a result the so-called Nationally Determined Contributions (NDCs) that each government is supposed to produce to show how they will cut greenhouse gas emissions under the Paris Agreement of 2015 are woefully inadequate.

Even if implemented in full, they would still allow the world to warm by 2.6°C, 70% more than the 1.5°C regarded as desirable by the Agreement,  and well above the agreed danger level of 2°C. As it is, governments are not even reaching their declared NDC targets.

A “profound transformation” is required, the report says. Higher renewable energy deployment amounting to 7.7 TW, or 3.3 times the current global capacity, could be achieved cost-effectively, and would bring considerable social and economic benefits.

“Given the competitiveness of technologies and the multiple benefits they bring the economy (e.g., job creation) renewables are a readily-available and cost-effective option to raise NDC ambitions today.”

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Climate News Network, 12 Dec 2019: Politicians not markets slow new energy dawn