@Green May/June 2024 | Page 20

20 • Column

20 • Column

@ green | May-June . 2024

Competitive forces of climate change

The Energy Transition Rainbow and the Hunga Tonga-Hunga Ha ’ apai volcano

I

WAS invited to be part of a panel at a recent regional energy conference . Present were a diverse group of prominent bankers , lawyers and senior leaders of energy companies . During my panel session , I was asked about my interpretation of the Energy Transition . I decided not to regurgitate the tried , tested and diplomatically correct responses that one typically hears in large public forums .
To describe my views , I said that I saw the Energy Transition as a rainbow . Something beautiful and almost romantic , suspended magically , high in the sky . Its real and truthful colour is a boring white , but we see a hue of glorious colours . At the end of this rainbow is the proverbial “ pot of gold ” or Net Zero target , something enormously difficult to achieve .
I continued my commentary by stating that many are chasing the Net Zero agenda and backing this pursuit with much investment . However , I have recently observed less conviction , more confusion and a general slowing of momentum in this race to manage global warming . Interestingly , many nodded in agreement .
Afterwards , many thanked me for this analogy over the remaining two days of the conference . Why do I have this image in my mind ?
ON THE BALANCE OF PROBABILITIES
In legal proceedings , the evidence presented to a jury or judge in a court of law is often not definitive . There may not be enough evidence to convict a criminal , but there might be sufficient “ smoke ” that there must have been a fire burning somewhere at some point . In such cases , judges consider evidence on the balance of probabilities . This is the case with climate change . Science , politics , industry and finance each has a viewpoint and a motivation to promote their stand . Leaders use convenient data to win political support . Industry pursues profits based on real or perceived market opportunity , while financial institutions arbitrage in-between .
On the balance of probabilities , what would be a safe pathway through the climate change debate that would result in sound national policy , sensible fiscal spending in this area and keep the world out of a chaotic future ?
Since Al Gore ’ s movie “ An Inconvenient Truth ” was first screened in the late 1990s , Climate Alarmists have predicted an impending “ climate emergency ”. Those who are less

THOTSPOT

BY DR KENNETH PEREIRA
dramatic claim we are in the throes of a climate crisis . The primary evidence :
• Global temperatures are rising at an accelerating pace because of anthropogenic CO2 emissions ;
• Polar ice caps are melting , and
• Sea levels are rising at alarming speeds . Their response is to immediately stop using fossil fuels and replace our current energy system with technologies reliant on renewable and clean energy sources at unimaginable cost . What does the empirical evidence say :
CASE OF THE HUNGA TONGA- HUNGA HA ’ APAI VOLCANO
From Figure 1 , we can conclude that temperatures are gradually increasing . It is also irrefutable that we are witnessing a spike in global temperatures . So , it may be queried if that is not compelling evidence of anthropogenic climate change .
Many climatologists disagree . They claim that when the Hunga Tonga-Hunga Ha ’ apai volcano erupted on Jan 15 , 2022 , not only did it send a tsunami racing around the world and set off a sonic boom that circled the globe twice , the underwater eruption in the South Pacific Ocean also blasted an enormous plume of water vapour into Earth ’ s stratosphere – enough to fill more than 58,000 Olympic-size swimming pools . The sheer amount of water vapour was likely
Figure 1- Recent Global Temperature Measurements ( 1979 to 2024 ). sufficient to temporarily affect Earth ’ s global average temperature .
Luis Millán , an atmospheric scientist at NASA ’ s Jet Propulsion Laboratory in Southern California , led a study examining the amount of water vapour that the Tonga volcano injected into the stratosphere - the layer of the atmosphere between about 12-53 kilometres above Earth ’ s surface . In the study , published in Geophysical Research Letters , Millán and his colleagues estimate that the eruption sent around 146 teragrams ( one teragram equals a trillion grammes ) of water vapour into Earth ’ s stratosphere – equal to 10 per cent of the water already present in that atmospheric layer . Is this significant ? Water vapour is Earth ’ s most abundant greenhouse gas . It is responsible for about half of Earth ’ s greenhouse effect . Thus , the impact of Hunga Tonga-Hunga Ha ’ apai was immense . It increased the Earth ’ s greenhouse effect by 5-7.5 per cent in a few days .
When reading the mainstream media publications about any recent climate-related event anywhere in the world , has Hunga Tonga-Hunga Ha ’ apai been highlighted as a significant potential cause ?
Imagine , if the greenhouse effect currently experienced by the Earth is characterised by the numeric value of 100 and that 100 was achieved after some 170 years of humankind utilising various forms of fossil fuels as an
2024 Temperature Spike

Are nations rethinking climate priorities ?

ON June 20 , 2024 , the 14th annual edition of the World Economic Forum ’ s ( WEF ) report - Fostering Effective Energy Transition 2024 – was published . It benchmarked 120 countries on the performance of their current energy systems , focusing on balancing equity , environmental sustainability and energy security . The transition readiness of each nation was also assessed .
The results of the benchmarking exercise were :
• The top 10 rankings for 2024 are entirely composed of countries from the European continent ;
• The gap in overall Energy Transition
Indices ( ETI ) scores has narrowed between advanced and developing economies ;
• Global average ETI scores reached a record high . However , a slowdown in the pace of the worldwide energy transition , first identified in 2022 , has intensified over the past year . The 14th annual edition of the report shows that the three-year improvement in global ETI scores between 2021 and 2024 i s almost four times less than the upswing recorded over the 2018 to 2021 period ;
• The report indicates that 83 per cent of countries achieved lower
scores than last year on at least one of the primary performance dimensions of the energy transition – sustainability , equity and security ;
• Energy transition momentum has been slowed by setbacks in energy equity , driven by rising energy prices in recent years ; and
• Energy security continues to be tested by geopolitical tensions . The report concluded that the world remained off-track to meet net-zero ambitions by 2050 and keep global warming to no more than 1.5 ° C , as called for in the Paris Agreement .
If the Energy Transition was expected
to garner the “ buy-in ” of its most important stakeholders , targets had to be realistically achievable . Net zero by 2050 was always tough based on public policy , which failed to account for logic , technical and financial feasibility , and wider social considerations .
From the onset , political expediency set the scene . Under the twin banners of a climate emergency and emotion , policies and business strategies were implemented but were now subject to scrutiny , u-turns , and a waning lack of public interest .
Are nations rethinking climate priorities ? The data from the WEF report suggests this is the case .