Critical role of green technologies and the need for front-loaded investment
Role of green technologies, renewable energy such as wind, solar, and geothermal power are essential for achieving net-zero emissions by virtue of their ability to reduce GHGs.
Concept of net zero emissions net-zero emissions constitute a state wherein the total volume of greenhouse gases (GHG) released into the atmosphere is counterbalanced by an equal volume removed. This involves both reducing emissions and removing existing GHGs. The primary goal of net-zero emissions is to limit global warming to 1.5°C above the pre-industrial level . This is the threshold beyond which the risks of extreme weather events, rising sea levels, and other climate-related disasters increase significantly.
Climate scientists and international organisations like the Intergovernmental Panel on Climate Change (IPCC) have determined that limiting global warming to 1.5°C above the pre-industrial level necessitates reaching net-zero emissions by mid-century (2050). In addition, establishing a long-term goal like 2050 allows for strategic planning, policy decisions and early investments that can steer the shift to a low-carbon future. The role of green technologies, renewable energy such as wind, solar, and geothermal power are essential for achieving net-zero emissions by virtue of their ability to reduce GHGs, their intermittent nature presents a challenge.
Energy storage solutions, including lithium-ion batteries and hydrogen , are crucial in mitigating this challenge by storing excess energy and ensuring a consistent supply. By integrating these technologies, the potential of renewable energy can be fully realized, grid reliability can be optimized, and the transition to a low-carbon future can be augmented. Energy efficiency techniques like ensuring energy efficiency in buildings, industrial units and transportation modes can also facilitate in reducing carbon emissions
Buildings – By reducing energy consumption in buildings, GHG emissions can be decreased. Smart technologies, such as automated thermostats and energy-efficient lighting, improve energy usage as per occupancy and external conditions. Additionally, efficient ventilation systems contribute to reducing energy demand and carbon footprint.
Transportation – Electrification, powered by electric vehicles (EVs) and efficient public transport systems, will play a crucial role in reducing carbon emissions. Investing in efficient public transportation systems, such as electric buses and trains, can encourage people to shift from private cars to public transport, further reducing carbon emissions.
Industrials – Energy efficiency in industries will have to focus on optimising manufacturing processes to reduce energy consumption involving streamlining operations, improving equipment efficiency, and minimising energy losses. Additionally, recovering waste heat, such as heat generated during production processes, and reusing it can significantly reduce energy demand.
Carbon Capture, Utilisation, and Storage (CCUS) is a crucial tool in achieving net-zero emissions by 2050. It offers a realistic resolution to lower carbon emissions from industries that cannot be decarbonised completely, such as steel, cement, and chemicals. CCUS works by capturing CO2 emissions from industrial processes, transporting them to storage sites, and either saving them underground or utilizing them to produce valuable products like fuels or chemicals. This technology can substantially lower the carbon footprint of these industries, helping to achieve the ambitious goal of net-zero emissions.
Nature based solutions offer a powerful approach to achieving net-zero emissions by 2050. Forests are nature’s carbon capture powerhouses, absorbing CO2 from the atmosphere and storing it in their biomass and soil. By investing in tree plantation and forest restoration, GHGs can be reduced. These restored forests offer a multitude of benefits, including clean water, stable soil, and thriving biodiversity.
Sustainable agriculture (crop rotation, using technology to optimize inputs like water and fertilisers) can enhance soil health, contributing to a more sustainable future The Need for Front-Loaded Investment Initial cost and long term benefits The substantial upfront cost of green technologies and infrastructure is a significant barrier to achieving net-zero emissions.
However, these investments are critical to ensure a sustainable future. Technologies like green hydrogen, battery storage, CCUS, and renewable infrastructure require considerable time and resources to develop and deploy. The long-term economic and environmental benefits of early investments in green technologies are substantial, including – Early investment drives innovation and research, leading to rapid advancements in green technologies; Front-loaded investment can lead to economies of scale, reducing costs and making green technologies more accessible; Early action can help avoid the much higher costs associated with delayed climate action and the impacts of climate change; Leading the way in green technology can enhance a nation’s international reputation and attract foreign investment.
The urgency of the climate crisis cannot be disregarded. A deferral of action will only aggravate the problem and elevate the costs of mitigation. By prioritising front-loaded investments in green technologies, governments, businesses, and individuals can accelerate the transition to a sustainable future By undertaking early investments in green technologies, a future marked by extreme weather events can be avoided. The choice is clear: a sustainable future or a climate catastrophe.