DeepSummary
The panelists discuss the key outcomes of the COP26 climate summit in Glasgow. While the commitments made fell short of limiting global warming to 1.5°C, there was progress on issues like cutting methane emissions, finalizing carbon trading rules, and providing climate finance for developing countries. The panelists see it as a step forward but not enough to bend the emissions curve.
The US infrastructure bill, which was signed into law, includes provisions for grid upgrades, EV charging, and investments in emerging technologies like hydrogen, carbon capture, and advanced nuclear power. The panelists analyze the potential impact and merits of supporting these technologies in the energy transition.
The discussion also touches on negative emissions technologies like direct air capture as a potential solution, though concerns are raised about over-reliance on future breakthroughs instead of near-term emissions reductions. The panelists stress the need for a range of innovative solutions across multiple fronts to decarbonize various sectors.
Key Episodes Takeaways
- COP26 made incremental progress but fell short of commitments needed to limit global warming to 1.5°C.
- The US infrastructure bill provides funding for emerging clean energy technologies like hydrogen, carbon capture, and advanced nuclear power.
- Negative emissions technologies like direct air capture could play a role but should not be seen as a silver bullet without lifestyle changes.
- A balanced portfolio of energy sources, including firm, dispatchable power, is crucial for reliable and affordable decarbonization.
- Government commitments and policies are essential for driving private sector action on climate change.
- Realistic cost estimates and accountability are important when evaluating potential solutions like nuclear power.
- Innovation across multiple fronts, from technology to policy, is needed to accelerate the energy transition.
- Natural solutions like forest conservation and restoration should be prioritized alongside technological advancements.
Top Episodes Quotes
- “So I'll say overall, for me, cop was a success, but I have a filter that maybe is different from a lot of people who are listening to this and certainly than a lot of people I work with and that I speak to, I mean, overall, I wasn't expecting the outcome of cop to be binding global policies reducing emissions.“ by Melissa Lott
- “I'll tell you my concern about it. My concern is we keep trying to excuse ourselves using the same products, living the same way, and then we're hoping some scientists is going to come out with some technology that's going to mean that we don't have to change anything.“ by Amy Myers Jaffe
- “Listen, I think what happens here is that the private sector gets the signal that governments are going to take action, that governments that you might have expected not to take action or make a pledge are doing that. And it means that the private sector has to take action.“ by Amy Myers Jaffe
- “I just can't get around the idea of someone selling you something and saying, here, this is going to cost you a dollar, and then, oh, just kidding, after you've already received it, it's going to be $3. That doesn't work for me.“ by Melissa Lott
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Episode Information
The Energy Gang
Wood Mackenzie
11/19/21
The COP26 circus has left town. Across 2 weeks of talks in Glasgow, what were the successes, and what were the failures? With current commitments putting the world on track to 2.4°C of warming, the cost of inaction on climate and health will vastly outweigh the costs of acting now, so which countries are snapping into action?
Host Ed Crooks is joined by regular Melissa Lott, Director of Research at the Centre on Global Energy Policy at Columbia University, and Amy Myers-Jaffe, Managing Director of the Climate Policy Lab, at the Fletcher School at Tufts University, to give the final verdict.
Also in the show, the gang looks at innovations in technology in carbon capture and storage; President Biden’s infrastructure bill proposes big commitments on CCS, what do these look like? Plus, nuclear and hydrogen technologies, which could play a huge role in the energy transition, go under the microscope.
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