[ OPINION ]
only way to do this , with currently available technology and without compromising economic output , is to build greater energy production capacity through solar , wind , hydroelectric , and nuclear to replace the energy that is currently being generated through coal and gas-powered plants .
However , a notable breakthrough occurred at COP 28 with a commitment from 118 countries to triple renewable energy capacity , double energy efficiency by 2030 , and , for the first time in the history of COP , “ transition away ” from fossil fuel use . Current global energy consumption is around 25,000 terawatt-hours . In 1980 , that number was closer to 6,000 terawatt-hours . On average , a kilowatt hour of fossil fuel burning produces c . 1kg of CO2 emissions . A written commitment to transition away from burning these fuels , however weak , is a giant leap forward , considering the signatories included OPEC
While the free market has directed investments toward renewables and energy storage , transitioning to a cleaner grid will require time and concerted effort . countries whose economies rely heavily on oil exports .
However , the text for the COP 28 deal remains controversial . While a consensus has been reached that greenhouse gas emissions must be reduced , there is a lot of disagreement about how this reduction must be reached . The current proposal does not include wording binding countries to the reduction in the use of fossil fuels by a certain date , but instead focuses on the reduction of emissions . This implies that countries can continue to burn fossil fuels , as long as they reduce emissions through technologies like carbon capture and other such offsetting initiatives . In reality we find ourselves in an impasse – while offsetting projects can have some benefit , the technology to effectively remove carbon dioxide from our atmosphere does not yet exist in a form that is scalable on a global level . This does beg the question , in practice , of what global leaders expect to happen as greater renewable capacity is installed , and the world shifts away from internal combustion engines . Demand for oil and natural gas must fall as more energy generation is shifted towards green forms of energy .
One possible solution that has taken foot at this COP is a “ Fossil Fuel Non-Proliferation Treaty ”. Basing itself on the nuclear
Patrick Donati , Founder of Terrawatt
nonproliferation treaty , which was successful in bringing together world powers to step back from the brink of mutually assured destruction presented by nuclear weapons , this treaty would provide a way for countries to map a way out of the reliance on fossil fuels through voluntary action and crucially stop the expansion of new oil and gas extraction programs .
However , navigating the transition away from fossil fuels poses challenges for a global economy heavily dependent on oil and other non-renewable energy sources . While the free market has directed investments toward renewables and energy storage , transitioning to a cleaner grid will require time and concerted effort . Despite potential hurdles and uncertainties surrounding COP 28 , various global players , including governments and private enterprises , are actively addressing the challenge , and acknowledging the imperative of sustainable energy transitions - even in the absence of a formal COP agreement .
12 Green Steel World | Issue 10 | February 2024