The coal and oil industries are among the largest polluters across the world’s business sectors. A rotation to renewables is supposed to improve that situation. Unfortunately, bad news recently hit those who hoped this would happen quickly. Non-profit REN21 released its major energy trends report, ” Renewables 2024 Global Status Report” . The news was grim. “The transition to renewable energy in buildings, industry, transport, and agriculture is falling behind, with 12.7% of energy in these sectors coming from renewables. Despite the urgent need for targeted policies, progress is slow: by 2023, only 13 countries had comprehensive renewable energy
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policies across all key sectors.” The authors added, “Only 17 of the 69 countries with demand-side policies have set or renewed renewable energy targets for these sectors beyond 2024, and there are indications that governments may be tempted to water down measures in the face of economic and political pressure. Meanwhile, fossil fuels continue to receive subsidies, totalling USD 7 trillion in 2022.” The report listed several reasons for the trends. One is that it is costly to retool large carbon emission companies. Another is the lack of capital to underwrite the growth of renewables. Climatecrisis247 believes that experts could have seen a report of this kind coming. Even in the US, the Administration has admitted that oil will be essential to the energy stability of the US, if only briefly. Solar and wind power face hurdles to capital availability from the public and private sectors. The news also indicates that an acceleration in global warming will continue.
India Extreme Heat
The costs of global warming are incredibly evident in India. Temperatures have risen above 120 degrees F, creating widespread healthcare problems and increasing the costs of helping those who become ill. It also undermines productivity, particularly for industries that require people to work outdoors. The FT reports ,” While regions including Delhi have introduced heat action plans to improve early warning systems and manage the effects of extreme heat, analysts said far more investment was needed to mitigate the health and economic impacts of rising temperatures.” Climatecrisis247 believes that this heat problem continues to worsen over time and that periods of high temperatures will be longer and their effects will spread. Relatively poor nations, including India, face breakdowns in their societies and economies in some parts of the country. Migration is geographically impossible, and if possible, in some areas, it would require an incredible investment.
Renewable energy could provide as much as 70% of the energy needs of the Middle East by 2050. That number is only 5% today. According to a report from Rystad Energy titled “Power surge: Solar PV to help meet soaring Middle East power demand, reduce reliance on fossil fuels,” its authors report, “Solar photovoltaic (PV) is expected to emerge as the predominant source, accounting for more than half of the region’s power supply by the middle of the century, up from 2% last year.” Climatecrisis247 believes forecasts that predict trends over two decades into the future are flawed, no matter the source. Replacing fossil fuels with renewables is incredibly complex, facing hurdles created by fossil fuel companies and funding challenges.
The United Nations Population Fund has just issued a report titled “Climate emergency threatens 41 million people, their livelihoods and health care in low-elevation coastal areas in Latin America and Caribbean.” The authors write, “Data analysis by UNFPA reveals an estimated 41 million people – or six per cent of people in the Latin America and Caribbean Region – who live in coastal areas are exposed to life-threatening storms and flooding. The analysis also shows that 1,448 hospitals vital to maternal health and family planning are located in low-elevation coastal areas more prone to natural hazards.” Climatecrisis247 believes this report mirrors others about low-lying areas near vast bodies of water worldwide. The problem is nearly unsolvable as global warming makes ocean levels rise.
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