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This is what the climate will look like in 40 years | ticker VIEWS

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Experts fear Australia’s Intergenerational Report doesn’t admit that climate change will impact the future economy.

 

Australia’s Treasurer Josh Frydenberg has revealed the Intergenerational report for 2021. The report is released every five years and aims to outline how demographic, technological and other structural trends will affect the economy over the next 40 years.

However, experts fear there is a lack of acknowledgment when it comes to climate change and its impact on the future economy.

Climate change acknowledgment in the report

Climate change only became central throughout the report’s agenda in 2010. Climate change action is such an important part of our economic future, especially at a 40-year glance.

Those 40 years will be the make-or-break period for climate mitigation globally and will demand unprecedented and highly disruptive economic transformation.

As the world seeks to phase out fossil fuels, Australia is yet to make any ambitious targets of net-zero emissions by 2050. Frydenberg has claimed gas exports will be a central pillar of Australia’s contribution to international climate action.

He also spoke about carbon capture and clean hydrogen as promising future industries. However, he made no urgent attempt to model any of the physical or transitional effects of climate change and decarbonisation in depth.

Economist and climate councillor Nicki Hutley wants to see accurate modeling of climate change and the impact it has on the economic future. Hutley says the report lacked details.

“There was really no discussion at all. It was almost like well, we had climate change, nothing much to see here. We’re doing stuff on hydrogen and carbon capture and storage. So nobody needs to worry… which of course is very far from the truth.”

Climate change action and a thriving economy

Climate inaction is costly. For example, the insurance sector is already being impacted by current climate change policies. People who’re deemed a high flood risk area or fire danger area are having difficulty with their eligibility for insurance.

Hutley says the economic impacts will be devastating.

“Melbourne Uni released a report and the potential impact was around $100 million a year. That’s like having a COVID sized shock to the economy, every single year, within the next few decades.”

“It’s not just the extreme events, but rising average temperatures, the impact on tourism on agricultural productivity, on people’s ability to work because of those higher temperatures, it really flows right across the economy. It’s very drastic.”

Nicky Hutley

Climate change action and a thriving economy can work hand in hand. Countries around the world are using climate action to stimulate their economies. Climate change action can create jobs opportunities.

The next Intergenerational Report will be in 2026. Climate change isn’t waiting and neither should we.

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  • Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

Climate

Global climate emergency to kill 83 million people by 2100

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Rising temperatures to place four times the population of Australia in danger if no further action is taken against the world’s climate emergency.

Greenhouse gas emissions contributes to rising temperatures globally.

 

New research by R. Daniel Bressler from Columbia University’s Earth Institute reveals increasing greenhouse gas emissions could contribute to 83 million excess deaths between 2020 and 2100.  

“By the end of the century, the projected 4.6 million excess yearly deaths would put climate change 6th on the 2017 Global Burden of Disease risk factor risk list,” Bressler says. 

Published in Nature Communications, the study entitled The mortality cost of carbon may trigger many to think twice about how their lifestyle generates emissions.

Findings of the study show for every 4,434 metric tons of carbon dioxide, one person will die of a heat-related cause with temperatures set to rise by 4.1 degrees celsius by 2100. 

This metric is equivalent to the lifetime emissions of 12.8 average global individuals or 3.5 Americans. 

The highest mortality rates are expected to occur in some of the hottest regions of the world including Africa, the Middle East and South Asia.

It’s also important to note that the study only accounts for temperature-related mortality, excluding climate-mortality pathways such as the impact of climate change on infectious disease, food supply and extreme natural events such as flooding. 

Rising temperatures could contribute to 83 million excess deaths within the next century.

Bressler says this metric could be used by governments and companies to determine how they choose to monitor high emission-generating activities. 

“The emissions contributions of these groups are usually marginal relative to the aggregate emissions of the world economy from the industrial revolution through the twenty-first century,” Bressler says.

“If an organisation reduces its 2020 carbon dioxide emissions by one million metric tons this will save 226 lives in expectation over the course of the twenty-first century.” 

Temperatures have increased by 1.1 degrees Celsius (2 degrees Fahrenheit) globally since 1880 according to NASA’s Goddard Institute for Space Studies (GISS).

Decreasing emissions so that there is only a 2.4 degrees Celsius increase by the end of the century could save 74 million lives. 

 

Written By Rebecca Borg

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Climate

5B : Why this is an answer to the climate crisis

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From Australian startup to solar juggernaut, 5B’s technology is reinventing solar energy

5B started as an Australian startup and is reinventing global solar energy from the ground up.

This week on Ticker Climate the co-founder of 5B, Chris McGrath ‘zoomed-in’ from sunny Darwin, Australia. 5B is an innovative solar technology business, with a mission to create abundant, accessible, affordable power from the sun. They’re breaking down barriers by making solar power easy, affordable, and quick.

Aussie startup founded over a bottle of whiskey

Solar engineers Chris McGrath and Eden Tehan founded the business in 2013. They came up with the idea over a bottle of whiskey. With an aim to accelerate the planet’s transition to fast, easy, low-cost clean solar energy. The way solar can, and should be. From a team of 30 employees last year, they now employ 137 people.

The name 5B represents the 5 billion years of sunshine Earth has left, and motivates them to strive for the simplest, most effective ways to leverage this resource.

“As individuals how we can add most to the challenge of climate change in front  of us.” 

Chris McGrath, Co-founder 5B

 

How it works

5B’s finely tuned ecosystem allows its solution to be produced anywhere in the world, at scale, with a network of channel, assembly, and deployment partners. They use technology to make the process of producing and developing solar easy and low cost.

They classify themselves as the ‘Maverick’s’ (a reference to Top Gun) of our time and the leaders of the renewable revolution.

The Maverick

The iconic technology of the ‘Maverick’ solar solution is the fastest, easiest and simplest way to deploy ground-mounted solar. 5B has redefined the engineering, and construction of solar farms.

They use the ‘Maverick’ to transform to supply and delivering chain of building solar farms to make it easier, faster, and cheaper. Their approach combines modular design, prefabrication, and rapid deployment.

This streamlines engineering & procurement and transferring cost, time & risk from the construction site to the factory. 5B makes the process simpler by using modular prefabricated blocks, pre-wired, minimal site preparation, suitable for most ground and soil types, minimal ground penetration and no trenching needed.

They’re the fastest deployment on the market.

 

Sun Cable Project

5B has joined forces with the Sun Cable Project. This project will be the world’s largest solar farm in the world on completion. It will be able to power whole cities with renewable energy.

It is in a remote location in the Northern parts of Australia. By conventional means, this process would take thousands of people in a camp in the middle of nowhere to complete.

However, with 5B they will use a highly trained workforce in a factory in Darwin, then a fleet of autonomous vehicles will help to make the rollout efficient and seamless. They will use about 100 people as opposed to thousands. They will be rolling out approximately 180 ‘Maverick’s’ per day, which equates to about one per 5 minutes.

This project will be a lighthouse for 5B to showcase their capabilities and leadership in this industry. And, with predictions the cost of solar will continue to go down, Australia could be on track to become a renewable energy exporting leader.

“The advantage in Australia is the price of solar will keep going down and that will give us an advantage over other countries. “

Energy expert, and Ticker Climate co-host, Scott Hamilton

Breaking global markets

5B is also expanding internationally, breaking into markets in Chile, the United States, and India. They want to drive growth into these markets to build their ecosystem of partners right around the world. They also have a factory in Vietnam ramping up.

Eventually, 5B wants to implement a system so seamless that you can buy a solar farm online and have it delivered the next week.

 

Bushfire prone locations need solar

Right now disastrous fires are wreaking havoc across the world. The United States and Turkey, are the most recent to fall victim to the frightening blazes.  Some of the challenges local towns and communities in remote locations face are the risk of bushfires & storms that end in extended blackouts.

The solution for these towns, communities, and businesses is solar. In Australia, 5B recently worked on a project named ‘resilient energy’ in partnership with Tesla and the co-founder of software company Atlassian, Mike Cannon-Brookes.

The project aimed at getting power back to bushfire-affected communities. The purpose is to use renewable energy to make the communities and power systems more resilient, relying less on power lines that are likely to be damaged during a fire.

“Power lines cause fires…We want communities and power systems to be more resilient.”

 Chris McGrath, co-founder 5B

Watch this week’s full episode here: https://tickernews.co/ticker-climate/

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Climate

UNESCO votes to add 33 new spots as heritage sites

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After several days of online deliberations, UNESCO has voted to add 33 new spots to its list of World Heritage Sites so far, with more discussions to come.

Due to the Covid-19 pandemic, the UNESCO World Heritage Committee didn’t meet last year.

UNESCO designated its first World Heritage Sites back in 1978.

UNESCO says that to be included on the World Heritage List, sites must be of “outstanding universal value”

Australia now has enough global support to avoid UNESCO listing the Great Barrier Reef as an “in danger” World Heritage Site until at least 2023

In June, the 12 countries in UNESCO’s World Heritage Committee voted for a draft ruling that the Great Barrier Reef was in danger of losing its World Heritage status due to the impacts of climate change.

Since then, Federal Environment Minister Sussan Ley has been busy lobbying Europe. During her tour, she visited eight countries in a bid to gain support to reject the danger listing.

The Australian government successfully garnered support from 12 other countries to delay the decision until 2023. This is enough for a clear majority.

Author

  • Jack is a journalist and producer at Ticker NEWS. He's previously worked for digital media publications in Australia and the US. Jack is particularly interested in reporting on international affairs and sport.

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