To what extent is the energy transition, to reach net zero by 2050, economically and politically possible?
Alex S
Introduction The global energy landscape is currently at a critical crossroads. For over a century, fossil fuels have been deeply embedded in society. Whether it be roads, wheels, tennis rackets, lipstick, artificial heart valves or antihistamines, almost every product we interact with on a daily basis has been made using fossil fuels. In an age where the world’s infrastructure is based on fossil fuels, it will be an immense challenge to transition to a net-zero emissions future. While renewable energy sources such as solar, wind and nuclear power offer viable alternatives, they face significant obstacles, as they require extensive investment, technological advancement, improvement in reliability and changes in political will. Fossil fuels on the other hand are currently irreplaceable in many industries due to their consistent reliability as well as the labour and capital that is bound to them. So, although governments worldwide are taking steps towards decarbonization, questions remain about the feasibility of a totally green future. Also, global leaders, big businesses and influencers such as Trump will play a huge role in the direction that the world decides to go in when it comes to going green. Net-zero: what is it, and why is it important? In simple words, ‘net-zero’ is the state in which greenhouse gas emissions are counterbalanced by the removal of an equal amount from the atmosphere (National Grid, 2023). This means that the net amount of greenhouse gases emitted is equal to or less than the amount absorbed, in effect, cancelling out the net impact. The final goal of achieving net-zero is to limit global warming by preventing the continuous accumulation of greenhouse gases in the atmosphere. Net-zero is achieved by a combination of reducing emissions, such as transitioning to renewable energy, and removing existing emissions from the atmosphere, such as using technologies like carbon capture (The Economist, 2021). Reaching net-zero by 2050 is crucial for addressing climate change and securing a sustainable future. Numerous countries have made commitments to move to a net-zero economy, in response to the climate science which clearly shows that cutting greenhouse gas emissions is directly linked to limiting global temperatures rising, and curbing climate change (United Nations, 2024). In the Paris Agreement, governments worldwide agreed to keep global warming below 2°C and to ‘make efforts’ to keep it below 1.5°C: global emissions must reach net-zero by the mid-century to give a reasonable chance of limiting global warming to the target of 1.5°C (IPCC, 2018). Reaching net-zero by 2050 will require immense spending and effort from all countries, but this is necessary to reduce long-term, economic, environmental and social burdens, preventing the destructive consequences of climate change. A failure to reach net-zero by 2050, or near that date, will have dire consequences for the entire globe. The planet would continue to warm, and these rising temperatures would lead to increasingly more intense heatwaves, droughts, floods and wildfires, causing catastrophic impacts in countries already prone to natural disasters, particularly the less developed countries (Bhargawa, 2023). Climate change
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