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How to avoid climate catastrophe

There are four pillars to avoiding global climate catastrophe, and all of them require immediate action. The four keys are 1. government policies, 2. private sector investment., and 3. philanthropy and 4. you. 1. Government policies All governments together presently spend around $2.5 trillion on military investments, annually. this is roughly double military spending worldwide 20 years ago. The cost to clean up our energy mix to clear the skies by 2050- and avoid the worst case climate change scenarios are widely estimated to be around $3 trillion per annum. that is in addition to the roughly 3 trillion per annum already being spent on green energy and related investments. So, the first things global governments need to do s to shake hands and agree to postpone differences for a couple of decades. Not likely, true, but this idea is not about what is likely, it is about what needs to be done. 2. The second thing that needs to be done is enable private investment in green energy. so this is also government related. Glasgow COP 2022 estimated that US $34 trillion in private investment in green energy by 2050 could be unleashed if there were only global guidelines to identify what exactly is sustainable investment. They saw an urgent need for global standards to be introduced to give confidence to equity markets. The IMF acted on this and on 26 June 2023, the International Sustainability Standards Board (ISSB) published its first sustainability-related disclosure standards. The publication of the Standards, known as IFRS S1 and IFRS S2, are intended to present a reliable framework for the provision of sustainability information to capital markets. Governments should be jumping all over this, but implementation has stalled in most governments across the world, slowing down the winds of change just as they should be picking up. 3. Philanthropy. this idea is that philanthropist also need to join the fray by prioritising the energy transformation of the globe including in poor countries, over other philianthrioic pursuits. I am not saying malaria tents and portrait galleries are less important. Only that they are less important right now. 4. You . Walk to work. Travel by plane a lot, sure, but just a little less than you did before this climate emergency. Turn off your power when it is not needed. Plant a tree. Do not ridicule alarmists. They are only reporting the science. Most of all, we are all a part of the problem, even yours truly. Our individual challenge is to also be a part of the solution.
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