Friday, June 9, 2023

black Rock. Technology is the solution to the climate crisis

to achieve the goal of zero emissions by 2050 only with solar technology and Airthey will need 15 million GW Renewable energy has been considered to reach the said target. David HayesCEO of Decarbonization Partners D Blackrock.

during his participation in

ESG Summit

cautioned that this is only half the process, as the world currently produces

50 gigatons

of emissions

green house gases

per year, and renewable energy is expected to cut that emission in half; The rest will depend on technological innovation.

According to international energy agency, up to half of gas emissions would be reduced by technologies that are currently in the demonstration or prototype stage. So in that area lies the major solution to climate change.

He also pointed out that in the past decade, the discussion around decarbonization has focused primarily on the energy transition, “many of us have seen renewable energy as some of the most competitive forms of energy in the world from nascent technologies, solar and wind.” I’ve seen it go in. ,” he reflected.

Currently, we have clear examples in which innovation plays a role in that next great journey, after energy, transportation is where there is more material, monetary effort and approach in terms of activity, Due to increasing consumer demand for affordable electricity and increasing availability of charging infrastructure,

“Historically, solar has become 20 percent cheaper over the past 10 years and now, together with wind, make up the cheapest form of energy in 75 percent of the world,” he said.

In view of this, he highlighted that last year, about 25 percent of all venture capital dollars were allocated to innovation, which means that by that figure, corporations want and need to depend on innovation. How you can transform your companies to transform the economy.

He commented, “Innovation and the climate are deeply linked by extensive collaboration between corporations, governments, investors and entrepreneurs, with the most successful startups able to catalyze value for all those parties in that ecosystem.”

He also addressed the issue of electric vehiclesWhich will quickly reach parity with conventional cars, offering a solution to reduce emissions in transport, if we consider the cost of batteries, as these represent most of the cost of an electric vehicle.

“The cost of batteries has fallen tenfold in the last 20 years and in the next 10 years we expect it to drop another 50 percent,” he said.

So, for prices to come down, time isn’t the engine of these drops, it’s innovation in production practices, in this case of batteries, that make it possible to produce them at increasingly lower costs.

“As production increases, there is more opportunity and incentive to achieve these kinds of innovations, and as technologies really start to scale, prices often drop. Companies are essential to the transition to net zero emissions, as they hold the key to how society produces and consumes”, he concluded.


Times of National
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