DeepSummary
The episode discusses the concept of climate justice and its rising importance in international climate negotiations like COP27. Climate justice aims to address the disproportionate impact of climate change on marginalized communities who contribute the least to emissions.
The discussion explores ways to integrate climate justice into business and investment decisions, such as prioritizing technologies that benefit women and girls. Challenges like securing climate finance for developing nations and navigating competing priorities like energy security are also examined.
The latter part of the episode focuses on decarbonizing the shipping industry, a significant contributor to emissions. Options like ammonia, methanol, and hydrogen as alternative fuels are evaluated, considering factors like infrastructure needs, leakage risks, and competition across industries.
Key Episodes Takeaways
- Climate justice is a growing focus in international climate negotiations, aiming to address the disproportionate impact of climate change on marginalized communities.
- Integrating climate justice considerations into business and investment decisions is becoming increasingly important, such as prioritizing technologies that benefit women, girls, and other marginalized groups.
- Securing adequate climate finance for developing nations and navigating competing priorities like energy security remain significant challenges in implementing climate justice principles.
- Decarbonizing the shipping industry is a key priority, with alternative fuels like ammonia, methanol, and hydrogen being explored, each with their own advantages and challenges.
- There is no clear consensus yet on the optimal pathway for decarbonizing shipping, and a variety of approaches need to be explored and assessed.
- Innovative and creative solutions are needed to accelerate progress in addressing the climate crisis, as current efforts are inadequate.
- Climate justice principles and energy security needs may conflict, leading countries to pursue an 'all of the above' approach that includes fossil fuels.
- Representation and inclusion of marginalized voices, such as those from small island nations and indigenous communities, are crucial in shaping climate justice solutions.
Top Episodes Quotes
- “I think when I think about the implications from all this, it is, what does that mean for, go forward, national policies around energy? And my personal belief is you're going to see countries take in all the above the approach, basically saying, at the end of the day, we're prioritizing energy security for constituents.“ by Shanu Matthew
- “So a gender smart investing would be intentionally having an investment strategy that prioritizes companies or technology solutions where the beneficiaries are women and girls.“ by Amy Dufour
- “When you think about hurricanes, floods or droughts that are striking, all too often, the people that are hit the hardest are low income communities and marginalized communities who bear little responsibility for climate change.“ by Amy Dufour
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Episode Information
The Energy Gang
Wood Mackenzie
11/4/22
With just a few days until world leaders and policy makers meet in Egypt for COP27, two returning Energy Gang members join host Ed Crooks to discuss what is expected from the latest round of international climate talks.
As the UN warns that there is “no credible pathway” in place to limit global warming to 1.5 °C, arguments about climate justice are rising up the agenda for international negotiations. Amy Duffuor of Azolla Ventures, and Shanu Mathew of Lazard Asset Management, kick off the discussion by explaining the idea of climate justice, and then go on to explore what it means for the future of energy. Although it might seem like quite an abstract concept, considerations of climate justice can in fact have direct practical significance for decisions by businesses, investors, governments and NGOs. The gang discusses some of those implications, and looks at how they could shape the effort to tackle climate change in the future.
Next, we shift our focus to the shipping industry, a large and growing contributor to global warming. Marine fuel represents about 6 percent of the world’s oil demand, and that number continues to rise. The gang discusses the pros and cons of some of the main options proposed for decarbonizing ships, including low-carbon ammonia, methanol and hydrogen.
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