Net-Zero Dialogue｜Joan McEntee
Date：2022-01-06
Source: China-Europe-America Wechat Official Account
(Click to Watch Video)
Former Under Secretary, US Department of Commerce; Board of Trustees, China-Europe-America Global Initiative,
Joan McEntee's Speech
Climate change, sustainability, and global collaboration are some of the crucial words used at the conference today. But I want to include one more: progress. I think it is time that we point to some of the progress of the current climate change efforts. And while acknowledging there's so much more to be done, at least the following examples are cause for some optimism and creative future projects.
Number one, so far, the worst-case scenarios for climate warming have been averted. It's often argued that the nearly 30 years of climate talks, since the Rio Earth Summit in 1992, have led to nothing. But that's not accurate. A decade ago, we were heading for a world 4 degrees warmer by 2100, which would have been catastrophic for life as we know it. But now with the policies that are in place, we are heading for 3 degrees, perhaps even a little lower, with the official pledges updated last month. If successfully translated into effective policies, we would limit warming to 2.5 degrees. Additionally, another 25 countries have updated their pledges. There's no question that 2.5 increased degrees of warming is still unacceptable, but it's far less damaging than 4 degrees.
Number two, the price of clean energy is actually falling fast. A decade ago, the virtue of coal was that it was cheap and plentiful. This is no longer the case. Utility-scale solar power declined in cost by 90% between 2009 and 2021. The cost of onshore wind power declined by 70% over the same period. Even in big coal areas, it is predicted that electricity from solar power will overtake coal by the end of the decade.
Number three, accountability for unconcerned oil interests has begun. Many of the leaders in this industry have been challenged recently to publicly clarify their positions on climate change and take accurate responsibility for their actions regarding global environment protection. This hopefully will have a positive impact on actions of their companies as well as consumers and policy leaders.
Number four, the fossil fuel divestment movement is snowballing. More than 100 nations signed a global methane pledge in Glasgow, vowing to cut methane emissions by 30% by 2030. Forty trillion dollars in endowments and in portfolios have vowed to abstain from investing in coal, gas and oil. This is larger than the GDP of China and the US combined.
China has vowed to stop funding new coal plants abroad. Individuals, such as Michael Bloomberg, have launched a new crusade to shut down coal plants in 25 countries, which has already helped to close 280 plants in the United States.
However, there is an area that needs increased attention in expansion. And that is a plan for focusing on the role global business must play on the climate issue. A dialogue should be created to give serious visibility to a series of climate-conscious companies, over a period of time in different settings. These businesses could focus on their sustainability programs, their green goal, and also how their supply chains affect achieving such goals as net zero. Such a dialogue would result in the first accumulation of critical global company data that has long been sought by experts in the area of climate change. This information would be hugely beneficial in supporting the economic argument for adopting increased climate change efforts by all nations. Factual economic business data could be positive, a game changer for buttressing environmental proponents. a game changer for supporting environmental proponents
Since China has taken a major step forward in this area, perhaps it would consider to host the first conference of net-zero goals for climate-conscious companies. I'm convinced that acknowledgement of incremental progress and demonstrable action is key to overcoming a perception that efforts to alleviate real climate change is so overwhelming that it's out of control of ordinary people or institutions. Let us continue to encourage all in the firm belief that every person can, must and will be involved in this issue. It must be successful for the future of all mankind.
Thank you very much.
