8. What is being done about the alerts of the IPCC Sixth Assessment Report?
There is a part of the world that is still clinging to fossil fuels like oil, natural gas, and coal. Large investments continue to be made in oil exploration, especially offshore. Also, fracking, an unconventional technology to extract gas and oil at great depths, continues to be used with the aggravation that the drilling of each well requires huge amounts of water, an increasingly scarce resource.
Another major impediment to curbing the rise in global temperature and climate change is the massive, unlawful, and irrational deforestation of huge, wooded areas, especially in tropical forests, key to extracting CO2 from the atmosphere.
However, there is another part of the world that is focused on the energy transition towards clean and renewable fuels, such as wind power, solar energy, and electric car.
The “Green Hydrogen Catapult” is the name of the initiative that aims to unify the efforts of several companies, with a view to increasing and reducing the cost of green hydrogen production. Its purpose is to progressively replace fossil fuels, until reaching the goal of global net zero emissions by 2050, an important contribution to limiting the increase in global temperature to 1.5ºC, the main column of the Paris Agreement.
Green hydrogen (H2) will play a fundamental role in the coming years in the fight against climate change, especially in the decarbonization of the planet. Green H2 will contribute to reducing greenhouse gas emissions and therefore help to slow down the progressive increase in the Earth’s temperature.
The Race to Zero is an initiative aimed at providing the Paris Agreement with a sustained base in the “real economy”, with a new approach to the fight against climate change.
The campaign, from the outset, mobilizes a coalition of Net Zero leaders, representing 23 regions, 454 cities, 1,397 companies, 569 universities and 74 investors, accounting for more than 12% of the world economy. These “real economy” players join 120 countries in the largest alliance ever committed to achieving net zero carbon emissions by 2050. Net zero commitments globally cover at least 68% of the economy global (US $ 84.575 billion), 56% of the world’s population (more than 4.2 billion people) and 61% of global greenhouse gas emissions.”