Climate change, as initiated by man’s huge output of C02, has been an urgent but largely overlooked state of emergency for decades. But today, with renewable technologies set to scale as never before, we have a chance to literally save the world.
A PASSIONATE CONCERN
Half a Century ago visionary Rachel Carson told us in her famous book ‘Silent Spring’ about the coming challenges of climate change. But the worlds of economics and politics move slowly, at least until there is an emergency. And so when that emergency comes, it is vital that we act with great speed, intelligence and agility.
Our children, our childrens’ children, the flora and fauna of the planet, all rely on the actions we take today. As founders of GoldenPeaks Capital, we regard the climate change agenda as both a critical responsibility and a vital moment to seize.
An Unprecedented Opportunity
Commercial opportunity drives action, and there is much cause for optimism. With climate change agendas aligning governments in new ways and with technologies being funded to provide powerful energy and environmental solutions, there has never been more opportunity for progress.
The European Green Deal
Since December 2019, the European Green deal has powerfully stimulated the renewables market. European member states are coming together to mobilise trillions of Euros via both direct EU funding and institutional guarantees. The aim is to bring about a 50-55% cut in emissions (from 1990 levels) by 2030. Ultimately, the Deal sets out to make Europe the world’s first carbon neutral continent.
The Biden US turnaround
Joe Biden, much like Al Gore before him, is a climate change pioneer. Ever since the mid-Eighties he has campaigned for climate change preventative measures. Within one week of becoming US President he tabled an Executive Order to tackle climate change with far reaching effects. His commitment to the Paris Agreement and COP26 is sure to greatly stimulate the renewables industry.
Governments & corporates in action
COP26 in Glasgow in 2021 - supported by COP27 in Sharm El Sheikh in 2022 - galvanised renewed global efforts for critical decarbonisation. However, while Governments speak of framework and policy, it is the populus and corporates that will drive the changes required. Through coordinated efforts by the likes of The Climate Pledge and RE100, corporates will be the critical entities in keeping below 1.5° of warming, and clean electricity is by far their most crucial tool.
The scale of acceleration
From the IPCC Reports (now in its final assessment cycle) to the numerous analysis of specialist organisations such as NASA, the general feeling is that climate change is worsening far more quickly than the official figures state. This underscores the investment urgency required as rising temperatures, sea levels and disrupted weather create compound feedback loops that accelerate the warming processes.
What the experts say
“The sun has not sent us a bill. The wind has not invoiced us. There really is no excuse. The earth has all the power we need”
Dr Asha De Vos Marine biologist and Jeremy Rifkin economist, 2021
“For over 60 years, I’ve been privileged to witness the natural world in all its wonder, but the planet I saw as a young man has changed beyond recognition. We have the capacity and knowledge to stop the damage we’re doing. What we don’t have is time.”
David Attenborough 2021
“Solar power is going to become so cheap over the next 20 years that it will be the dominant source of energy around the world. And that charges everything. We are talking worldwide of having to spend two or three trillion dollars a year on the installation of solar infrastructure over the next 30 years (that is 3-4% of world GNP)”
Chris Goodall Businessman, economist, 2020
“More and more are looking to reallocate their capital into sustainable strategies. If ten percent of global investors do so – or even five percent – we will witness massive capital shifts. And this dynamic will accelerate as the next generation takes the helm of government and business.”
Larry Fink Chairman and CEO of Black Rock, 2020
“By managing what gets measured, we can break the Tragedy of the Horizon. With better information as a foundation, we can build a virtuous circle of better understanding of tomorrow’s risks, better pricing for investors, better decisions by policymakers, and a smoother transition to a lower-carbon economy.”
Mark Carney As Governor of the Bank of England
“Global heating and its terrible impacts are running ahead of climate scientists’ expectations and modelling. Accordingly, going solar is increasingly about creating hope in hell."
Sir Jonathon Porritt CBE Environmentalist and writer
“We have all the resources we need to deal with this. There is nothing magical about reducing carbon dioxide in the atmosphere. There is nothing magical about the greenhouse effect. We know exactly how to deal with it. We just don’t have the political or economic will to do this.”
Professor Stephan Harrison Professor of Climate and Environmental Change, University of Exeter, 1919
“Until you start focusing on what needs to be done rather than what is politically possible there is no hope. We cannot solve a crisis without treating it as a crisis. We need to keep the fossil fuels in the ground and we need to focus on equity. And if solutions within this system are so impossible to find then maybe we should change the system itself.”
Greta Thunberg Speech at UN Climate Change COP24 conference, 2018
The Role of Technologies
The speed of technological development in the renewables sector is necessarily immense. This affects not only sectors for creating efficient energy and vectors for its transmission, but also energy storage and the hardware that the technologies use for roll-out.
At GoldenPeaks we are currently focusing on the development and operation of solar PV installations. This includes executing and delivering on Government, Corporate and Open Market Power Purchase Agreements (PPAs): the crucial tools that enable the commercial world to transition to minimal emissions. In this we have deep expertise and effective investment, and we do so in full support of the evolving technological landscape.
From the hydrogen energy vector (which complements solar so effectively), to atmospheric carbon capture; from geothermal to hydro and biomass, we keep fully informed of all the latest renewable technologies, all of which will contribute to a balanced and secure supply grid.
Video Resources
Al Gore, Sir David Attenborough and Greta Thunberg between them have done more to raise awareness of climate change issues in recent years than anyone else.
