{"id":794,"date":"2015-12-29T11:41:15","date_gmt":"2015-12-29T16:41:15","guid":{"rendered":"http:\/\/blogs.edf.org\/markets\/?p=794"},"modified":"2015-12-28T19:47:41","modified_gmt":"2015-12-29T00:47:41","slug":"the-atlantics-year-end-feature-hope-despair","status":"publish","type":"post","link":"https:\/\/blogs.edf.org\/markets\/2015\/12\/29\/the-atlantics-year-end-feature-hope-despair\/","title":{"rendered":"The Atlantic’s year-end feature “Hope & Despair”"},"content":{"rendered":"
\"Lucy
Lucy Nicholson \/ Reuters \/ Zak Bickel \/ The Atlantic<\/a><\/figcaption><\/figure>\n

Reason for despair:<\/strong> Climate change. It\u2019s the perfect problem<\/a>: more global, more long-term, more irreversible, and more uncertain that virtually any other public-policy problem facing us. Climate change is a lot worse than most of us realize. Almost regardless of what we do on the mitigation front, we are in for a whole lot of hurt.<\/p>\n

On the policy front, we have now talked for more than 20 years about how we need to turn this ship around \u201cwithin a decade.\u201d Not unlike the ever-elusive fusion technology, that hasn\u2019t happened yet. Global carbon emissions declined slightly this year\u2014for the first time ever without a global recession\u2014but the trends are still pointing in the wrong direction. Worse, turning around emissions is only the very first step. It\u2019s not enough to stabilize the flow of water going into the bathtub when the goal is to prevent the tub from overflowing. We need to turn around atmospheric concentrations of greenhouse gases. That means turning off the flow of water into the tub\u2014getting net emissions to zero and below. It doesn\u2019t help our efforts that many people seem to confuse the two. A study involving over 200 MIT graduate students<\/a> faced with this same question revealed that even they confuse emissions and concentrations\u2014water flowing into the tub and water levels there. If MIT graduate students can\u2019t get this one right, what hope is there for the rest of us?<\/p>\n

Reason for hope:<\/strong> Climate change. Many signs point to some real momentum to finally tackle this momentous challenge.<\/p>\n

The Paris Climate Accord builds an important foundation. It enables transparency, accountability, and markets to help solve the problem. Many governments are moving forward with pricing carbon: from California to China, from Sweden to South Africa, we see ambitious action to reign in emissions in some 50 jurisdictions. Meanwhile, lots is happening on the clean-energy front. That\u2019s particularly true for solar photovoltaic power, which has climbed up the learning curve\u2014and down the cost curve\u2014faster than most would have expected only five years ago. That has also provided an important jolt for sensible climate policy<\/a>. Then there\u2019s R&D for entirely new technologies. Bill Gates leading an investment coalition with $1 billion of his own money is only one important sign of movement in that direction. The excitement for self-driving, electric vehicles is palpable up and down Silicon Valley, to name just one potentially significant example. In the end, it\u2019s precisely this mix of Silicon Valley, Wall Street, and, of course, Washington that will lead\u2014and, in part, is already leading\u2014to the necessary revolution in a number of important sectors, energy and transportation chief among them.<\/p>\n

Excerpt from <\/em>The Atlantic‘s year-end feature on Hope and Despair: “Can the Planet Be Saved?<\/A>“<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Reason for despair: Climate change. It\u2019s the perfect problem: more global, more long-term, more irreversible, and more uncertain that virtually any other public-policy problem facing us. Climate change is a lot worse than most of us realize. 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