NET Zero

Question 1

What is the goal of the Paris agreement

Answer 1

To limit global warming above preindustrial levels to well below 2.0°C, and ideally to 1.5°C. Doing so would reduce the odds of initiating the most catastrophic impacts of climate change.

Question 2

Often, the transition is envisioned as a single great challenge: reducing emissions from energy, materials, and land use and other systems. In practice, it consists of four objectives. These are..

Answer 2

Emissions reduction, affordability, reliability, and industrial competitiveness.4 If achieving the first of those objectives risks compromising the other three, momentum toward net zero could be derailed.

Question 3

Electric vehicles (EVs) make up about X percent of new vehicle sales, and the range of the average EV has increased nearly ‘Y’ times during the past decade

Answer 3

Electric vehicles (EVs) make up about 15 percent of new vehicle sales, and the range of the average EV has increased nearly three times during the past decade

Question 4

solar power and wind power account for more than ‘X’ percent of electricity generation and ‘Y’ percent of new electricity-generating capacity

Answer 4

solar power and wind power account for more than 10 percent of electricity generation and 75 percent of new electricity-generating capacity

Question 5

How do long lead times become a problem in renweable generation

Answer 5

Long lead times are often a problem. For example, the time that elapses between initial exploration and starting to operate a new mine is typically five to 15 years. Partly for that reason, shortages of copper, lithium, nickel, rare earth metals, and cobalt—materials used heavily in EV batteries, wind turbines, and other low-emissions technologies—could begin before 2030. Similarly, it can take three to 12 years for a new electricity transmission or distribution project to be planned, receive the necessary permits, be built, and become active. In the United States, getting a new nuclear reactor approved can take up to five years of complex safety reviews, environmental assessments, and public hearings, and building it can take five years or more

Another potential bottleneck is concentration. For example, China produces more than 70 percent of the world’s silica-based solar photovoltaic modules and two-thirds of battery cells. While concentration can bring efficiency gains, it can create supply-chain bottlenecks if supply from the few sources is affected—say, by natural disasters or trade restrictions.

Nuclear power could face shortages of workers with the required expertise because many are now reaching retirement age

Question 6

Why do renewable planners need to consider weather volatility

Answer 6

because of the increase in wind and solar generation and the changing climate, planners and market designers must now accommodate weather volatility. For example, as Texas discovered during a severe freeze in 2021, some power plants and natural gas facilities are not winterized; that is, they stop working or suffer diminishing performance in extreme cold

Question 7

Why is Financing technology and start-ups key to meet Paris agreement for global warming

Answer 7

Financing technology and start-ups is key. Ninety percent of the greenhouse-gas (GHG) abatement that we need could come from proven technologies. However, to limit global warming to 1.5°C, these technologies need to scale exponentially by 2030. COP28’s Marcin Ścigan (Deputy Director of Partnerships) highlighted the role of start-ups in furthering innovation and achieving the scale we need. He noted that only 10 percent of venture capital (VC) funds go to climate tech—for MENA, it is only 5 percent. “Only start-ups can deliver this new technology, and our agenda was to facilitate a place at COP where finance and innovation can collide.” Initiatives like the GBB100 program, a collaboration between COP28 and McKinsey, aim to support green-technology startups and scale-ups.