DeepSummary
The new Energy Gang podcast hosts Ed Crooks, Melissa Lott, and Emily Chasan discuss the significance and key issues surrounding the COP26 climate talks happening in Glasgow. They examine what would constitute success at COP26 in terms of new pledges, financial commitments, and policies needed to drive emissions reductions and the energy transition.
The hosts analyze the recently announced net zero emission targets from major economies like India, as well as the challenges of meeting the Paris Agreement goals based on current nationally determined contributions. They debate whether the current energy crisis and high fossil fuel prices could accelerate or hinder the shift to renewables and clean energy.
The discussion explores complexities around ensuring energy access and equity during the transition, the role of carbon markets, need for infrastructure investments, and importance of mobilizing both public and private finance. The hosts share their perspectives on balancing environmental goals with development needs.
Key Episodes Takeaways
- COP26 is a critical moment to assess progress on emissions reductions targets and drive more ambitious climate action from countries.
- Despite increasing net zero pledges, current policies still put the world off track to meet Paris Agreement goals based on nationally determined contributions.
- Ensuring equitable energy access and affordability during the transition is a key challenge requiring solutions like distributed energy and innovative financing.
- Policies on methane, carbon markets, infrastructure investments, and public/private financial mobilization will impact the pace of the energy transition.
- Balancing environmental goals with energy needs for economic development creates tension that must be navigated in the transition.
- Energy security concerns amid the current crisis could accelerate renewables deployment, but may also spur a shortsighted return to fossil fuels.
- Success at COP26 depends on tangible commitments beyond pledges to enact real-world emissions reductions in line with climate targets.
- Complexities around implementing the energy transition at scale require systems-level thinking to align technologies, markets, and policies.
Top Episodes Quotes
- “If you look at the IPCC report, you'll also see a lot of the conversation in cop this week around methane reduction and how difficult methane emissions are for reaching our climate goals.“ by Emily Chasan
- “The key is this is my friend Jigger Shah used to say all the time that it's simple, not easy. Right? We know what we have to do, but the process of transition has a lot of trade offs and a lot of technologies and systems that have to work together, repair each other.“ by Emily Chasan
- “Essentially, he highlighted how during this pandemic, we've seen emissions fall by 6% and we basically shut half the economy down to do it. And if we actually want to get on track between now and 2030, get on track to the goals that we set with Paris, we need emissions to fall 8% every single year between now and then.“ by Melissa Lott
- “We need to make sure we're sharing the benefits of the energy transition in a more equitable way.“ by Emily Chasan
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Episode Information
The Energy Gang
Wood Mackenzie
11/8/21
COP26 is under way in Glasgow. It has been billed as the “last best hope for the world to get its act together” on climate change, but what is the real significance of the talks?
Host Ed Crooks is joined by new regular co-host of the Energy Gang Melissa Lott, Director of Research at the Centre on Global Energy Policy at Columbia University, to discuss the key issues and outcomes of the conference. Also joining for this episode is Emily Chasan, Director of Communications at Generate Capital, and former Wall Street Journal and Bloomberg journalist.
What needs to happen at COP26 for it to be counted as a success? The UN Environment Program noted in its new Emissions Gap 2021 report last week: “As a group, G20 members are not on track to achieve either their original or new 2030 pledges. Ten G20 members are on track to achieve their previous NDCs, while seven are off track.”
In this episode, the gang will explore the pledges made at previous conferences, as well as the new ones, and discuss whether they can lead to meaningful change in the global energy system.
In the second half of the show: soaring prices for gas, coal and electricity since the summer have raised questions about energy access, poverty and international equity: how can the world address these issues at COP26 and beyond?
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