Code Red for the Green Transition: IPCC Report
With the IPCC publishing a stark reminder of the climate issues we all face today, we take a look into the major headlines from their latest report as the world seeks to reach net-zero emissions by 2050.
This blogpost is authored by a member of Montel's content marketing team.
“It is unequivocal that human influence has warmed the atmosphere, oceans and land""
That was the key takeaway from Monday’s report published by the Intergovernmental Panel on Climate Change (IPCC). Whilst this has been a widely accepted truth for a number of years, the report is markedly different in its tone compared to it’s previous iteration, published in 2013, which only suggested that human involvement was likely.
The news didn’t improve from there either. The data showed that global warming has been happening at a faster rate in the past 50 years than at any point during the previous 2000. To prove the point, the past 5 years have been the hottest we’ve seen since 1850.
On top of that, new phenomena, such as rising sea levels are now locked in for decades to come. With global temperatures as they are, polar glaciers will simply continue to melt even as we look to set things right.
“This must be a wake-up call for all who believe in a responsibility for our planet. There will be no silver bullet, just a collective effort and agreement to return the world we live in, to a sustainable environment for generations to come.”"
So, whilst the headline news made for sad reading, one thing we could take away as a positive was the assertion that reaching net-zero by 2050 could at least limit global warming to just above the 1.5 degrees Celsius level - which the vast majority of countries signed up to at the Paris climate accords. The science now says we could even see some cooling were this to be achieved too.
But to reach that goal, we all have to start making changes now. Montel as a company might not build renewable energy plants or take carbon out of the atmosphere, but we know everyone has their role in this transition, and we’re proud to be playing our part.
Through our market news and data, we’re showing energy market actors how price drivers are changing as the world looks to decarbonise. By using Artificial Intelligence, we’re helping renewables become more profitable, enabling them to displace fossil-fuelled generation faster.
Our dedicated green desk brings the latest news in decarbonisation to everyone via Energy Transition Weekly and EQ by Montel is even able to quantify the impacts of climate change on power generation where extreme weather events take place.
Everyone, everywhere has their own level of responsibility to ensure we tackle climate change. The science now shows that if our generation of business leaders and individuals don’t take action, there may not be a chance for future leaders to so.
The Montel Group is proud to be playing it’s own role in the green transition and remains committed to guiding businesses through these changing markets, helping us all along in pursuit of net-zero.