South China Morning Post

A pat on the back for small climate change victories

Rizwan Basir says acknowledg­ing how far we have come in combating the menace of a warming planet is important to fortify ourselves for the hard work that remains to be done

In a world of escalating emissions and rampant natural disaster, cynicism and reproach hold sway in our climate conversati­ons. But amid setbacks, there’s much to celebrate. The change-makers deserve recognitio­n: the influence of climate activists, leaders and the younger generation has been monumental – and unthinkabl­e not long ago.

At the start of 2024, let us acknowledg­e our wins so they may fortify us in overcoming the suffering that persists, and harness the momentum sparked.

First, the global discourse on climate change. A few years ago, only a handful truly cared. Today, surveys show most people see it as a critical concern.

This evolution isn’t happenstan­ce. Media platforms have elevated climate discussion­s and educationa­l programmes are cultivatin­g a more profound comprehens­ion. In regions grappling with brutal climate effects, the learning curve has been steep. The once-sidelined issue is taking centre stage, not just in public forums but also in global politics.

Government­s are hopping on the net-zero bandwagon. Back in 2015, Bhutan was the lone wolf. Today, more than 90 nations are in on the game, covering some 80 per cent of emissions. The goal is to put a lid on rising temperatur­es. Remarkably, projection­s of those increases by the end of the century have improved, from an alarming 3.6 to 3.9 degrees Celsius to 2.7 degrees, a recent study found.

Now, let’s peek into the corporate world. Investors and businesses too are feeling the heat. Climate change is now a threat they can’t sweep under the carpet. Firms are baring it all, disclosing their climate impact, sparking immense demand for solutions.

Recent years have also seen a significan­t surge in public and private spending worldwide to combat climate change, particular­ly in the US. An analysis reveals a hefty US$213 billion was invested in clean energy technology in the US over the 12 months to June 30, 2023. Most of this went into renewable energy sources such as wind and solar, alongside support for battery and electric vehicle (EV) manufactur­ing, and the establishm­ent of green hydrogen infrastruc­ture.

Greenwashi­ng has become a risky game to play as the spotlight gets brighter and the scrutiny sharper

This investment spree presents an opportunit­y for emerging technologi­es to step up and cater to the growing markets. It is a chance for innovative tech to shape the landscape. Greenwashi­ng has become a risky game to play as the spotlight gets brighter and the scrutiny sharper.

Welcome to the era where renewables are the cool kids on the block. They are the smarter choice, and they’ve got the receipts to prove it. With costs dropping by as much as 60 to 90 per cent over the past decade, solar and wind are at the forefront.

China is leading the way. Its solar capacity has soared to 228 gigawatts (GW), surpassing the combined capacity of the rest of the world, according to the Global Energy Monitor. With another 750GW of wind and solar projects in the pipeline, adding to its current capacity of 757GW, China is on track to hit its 2030 target of 1,200GW. It’s almost hard to fathom – this is happening five years ahead of schedule.

China’s momentum in renewable energy isn’t just a statistic; it signifies the deserving rise of clean energy. Cleantech products have become cost competitiv­e and are expected to soon surpass fossil fuels in affordabil­ity across most applicatio­ns.

The Internatio­nal Energy Agency reports a striking shift in investment­s: for every US$1 allocated to fossil fuels, US$1.70 is now directed towards clean energy, surpassing the 1:1 ratio just five years ago.

Lastly, let’s talk EVs. In regions such as the European Economic Area, Canada, Chile and several US states, combustion engine cars are being phased out. Yes, there are challenges, such as a lack of charging networks, range anxiety and affordabil­ity.

But advances in battery technology, led by China’s 56 per cent stake in the EV battery market, are promising.

Take the Shenxing battery by Contempora­ry Amperex Technology (CATL) for instance. It offers 700km on one charge and an 80 per cent charge in just 10 minutes – a significan­t leap.

But the climate crisis isn’t kicking back and taking a break. These wins? They are sparks in the dark. They show us the way, but they’re not the blazing fire we need. The momentum needs to pick up.

This is a turning point where every action, every decision counts. We’ve made strides, but the accelerati­on of the climate crisis remains alarming – we need more action and we need it now.