The Pragmatic Climate Reset Part 1: The Energy Transition Is Not Dead

Pundits and politicians have been claiming net zero and the energy transition were always doomed to fail. I've been explaining why they are wrong, and why we need a Pragmatic Climate Reset.

We are not on track to keep temperatures to 1.5°C, but 2°C is still on the table, as long as we think like a tortoise, not a hare. Image: Cicero via CarbonBrief and Liebreich Associates.

I apologise for not posting for a few weeks, I have been extraordinarily busy, among other things making the case - via my BloombergNEF column and Cleaning Up - for a Pragmatic Climate Reset. Part I is out now, and the Part II will be appearing soon.

This is how Part I begins:

“It is now seven months since Donald Trump swept back to the White House. The sheer scale of his ambition to turn back the tide of clean energy, and consolidate the US dependency on fossil fuels is clear to see - and it is finding resonance around the world.

“Those who would build a clean energy future face a choice. They can either double down on their old narratives, press on with existing plans, and preach largely to the converted.

“Or they can refresh their offer. They can wind back historical over-reaches, address the legitimate concerns of voters, and come out fighting.

Part I concludes:

“So, where does this leave us? Let’s summarize. We are at or near peak emissions. We have seen coal use plummeting across the developed world and starting to drop in China. We have seen the cost of wind and solar decimated, and they now make up 93% of new capacity added to the grid worldwide. We have seen electric vehicles accelerate from a standing start to make up one car in every five sold worldwide, and one in two in China.

“We are not on track to keep temperatures to 1.5°C, but we have seen that 2°C is still on the table, as long as we think like a tortoise, not a hare.

“And yet, as Tony Blair rightly points out, we have seen the fracturing of the consensus behind climate action. It has fractured completely in the US, has been rescued from the brink in Canada and Australia. It is under severe strain in the UK and is showing signs of cracking across Europe. So we need to recalibrate.

“Continuing to insist on technological purity and policies that drive up costs, especially for the poor and vulnerable, or even for the tired and inflation-battered middle classes, is not a viable plan. Not any more.

“And that, is why I’m calling, for a Pragmatic Climate Reset.”

I think it’s going to be an important contribution. I do urge you please to read it, listen to it or watch it. And look out for Part II.

Selah.

The Pragmatic Climate Reset, Part 1: The Energy Transition Is Not Dead

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In case you missed it, a few weeks ago I had a really nice chat with Michael Gold on his Climate Swings podcast. If you want to know how I ended up doing what I do, it’s a good place to start.

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