10 signs that the ecological transition has begun
Environment — di Andrea Barolini
Although still largely insufficient, the ecological transition has now begun. Wwf lists the 10 signs that confirm it.
10 signs that the ecological transition has begun
Although still largely insufficient, the ecological transition has now begun. Wwf lists the 10 signs that confirm it.
The global average temperature continues to rise. The targets set by the international community seem far from being met. And the consequences of climate change – extreme weather events, melting of polar ice, rising ocean levels – are increasingly evident. And yet, there are also encouraging signs showing that the ecological transition – albeit slowly – has now begun.
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WWF has gathered ten of them in a report entitled "10 Signals evidence the green economy is underway", drawn up in collaboration with the central bank of France. From the transformation of agriculture to the development of renewable energy, from the gradual abandonment of fossil fuels to companies' commitments to align themselves with the Paris Agreement. Here is what can keep us at least partially optimistic.
1 – The beginning of the end of coal
According to the analysis by the environmental organisation, "although coal consumption is still particularly high, its profitability is falling rapidly. Almost half of the American commodity is in the hands of companies that have declared bankruptcy. In China, 40 per cent of power plants are running at a financial loss and the construction of 151 plants has been cancelled." The trend is also reflected in labour market forecasts: "Although in 2017 the sector provided employment for 30 million people worldwide, that figure will plummet to 8.6 million by 2050."
2 – Investors choose the ecological transition
Investors around the world are progressively reducing the funds allocated to the fossil fuel sector, in favour of green businesses. So much so that the two macro-sectors are now worth the same amount globally in terms of stock market capitalisation, namely four trillion dollars. Furthermore, for six years, investments in renewable energy (280 billion dollars in 2017) have exceeded those directed at power plants running on other sources.
3 – Public authorities are also abandoning fossil fuels
In the same way, governments are demonstrating – despite the against-the-tide choices of United States president Donald Trump – that they want to turn their backs on fossil energy. In 2013, the latter could count on subsidies amounting to 550 billion dollars: four times more than renewables. Three years later, partly thanks to the work carried out at COP 21 in Paris, the figure had fallen to 270 billion. This is still far higher than the amount granted to clean sources (which remained at 160 billion), but the halving achieved in just 36 months gives grounds for hope.
Market signals show that tackling #ClimateChange and nature loss is not just a challenge, it’s also a business opportunity - and first movers are winners. Who will seize the opportunity? #NewDealforNature wwf.panda.org/?342031/10-sig…
4 – Climate becomes a "financial risk"
Companies, for their part, have realised that climate cannot be left out of their business planning. Thus, the financial weight of investors supporting the recommendations of the international task force on climate-related risk disclosure has reached 100 trillion dollars (in terms of capitalisation).
5 – Companies align with the 2-degree target
The same private companies are, moreover, increasingly orientating their activities with a view to contributing to the achievement of the main objective of the Paris Agreement. That is, limiting the growth of the global average temperature, over land surfaces and oceans, to a maximum of 2 degrees Celsius by the end of the century compared to pre-industrial levels. While remaining as close as possible to 1.5 degrees.
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More than 500 major companies from around the world – responsible for climate-altering emissions equivalent to 900 million tonnes of CO2 – have committed to this goal.
6 – The green economy creates ever more jobs
In employment terms, all the efforts being made around the world will make it possible to create 24 million jobs compared to today, by 2030. This is according to forecasts by the International Labour Organization. "Even today," explains WWF, "in the United States, one dollar invested in clean energy creates three times more jobs than the same sum given to fossil fuels. In the European Union, over the period 2000–2015, the growth rate of "green jobs" was seven times higher than in traditional sectors."
Record mondial de 10 million d'emplois dans les renouvelables. Un signal aux leaders du #G7 bit.ly/2qOsxxc
Not to mention that, already today, more than 10 million people work in the renewables sector worldwide, according to figures released by the International Energy Agency.
7 – Renewable sources become affordable
From the consumers' perspective, the price of electricity from clean sources is continuously falling. In Germany, it is already lower than that of conventionally generated energy. "The possibility of storing production is also becoming simpler, thanks to batteries whose cost fell by 70 per cent between 2010 and 2016," the environmental organisation's report continues.
8 – The electric car market takes off
"It took 20 years to reach the first million electric vehicles sold worldwide. But only 18 months to sell the second million," explains WWF. The organisation specifies that between 2017 and 2018, registrations grew by 66 per cent globally: "By 2040, it is estimated that one third of vehicles in circulation will be electric."
9 – Organic is now on our tables
Major changes are also visible in the agriculture sector. "In 15 years," the report states, "the organic market has grown enormously in Europe. In 2000, its value did not exceed 7 billion euros. Sixteen years later, it came close to 35 billion. And today it is capable of generating more jobs than conventional farming."
10 – The circular economy is increasingly widespread
In a world where competition for (ever scarcer) resources never ceases to grow, numerous sectors have found themselves compelled to adapt. "In Europe alone, the circular economy could generate savings of 1,800 billion dollars by 2030. And it will make it possible to create two million new jobs," WWF concludes.