February 5, 2023

The Age of Adoption: Brave Actions for a Net Zero Future

This article is sponsored by antenna group.

Although I’m not sure of the exact year. But I remember attending a renewable energy conference in the mid-2000s, giving a millennial feel to the religious movement. with prophecies about the world of the Messiah It wasn’t the promise of the wolf and the lamb living together that bewitched the attendees. It is a prophetic vision of solar power inheriting the grid. The prophets at the meeting were not religious figures. but as an entrepreneur activist and policymakers who herald a future without carbon emissions and a cooler world.

Like most religious people We are both believers and non-believers. Sure, everything sounds good. But the price per kilowatt-hour of solar energy fell below $1, and a future in which solar energy could realize grid parity was realized. But only 15 to 20 years later, many of the prophecies that dominated the convention came true. We have reached a new era in climate history. And it’s not too early.

At Antenna Group we call this new era Our era is characterized by a shift from a previous era of research and innovation in climate technology – the “Innovation Age” – to today’s world in which companies are taking the initiative. Representatives of all sectors of the economy are actively adopting those solutions. Although it is difficult to date the beginning of the Age of Adoption, future historians may identify the text of the Inflation Reduction Act as the beginning of this era. The weather and the combined efforts of the government and the business community clearly indicate that a new era has arrived.

Although it is debatable whether public opinion drives corporate priorities in America or vice versa. The business community, representing all sectors of the economy, recognizes the threat posed to our climate and is working to address the challenge.

before proceeding The business community needs to acknowledge the crisis. Although some people listened to the warning slowly. But the economic impact of climate risks is too significant to ignore. Take, for example, more than 200 of the largest global companies. report Nearly $1 trillion is at risk from climate impacts. And many of the effects are likely to occur within five years. Half of the S&P 100 Companies support climate policies in line with the Paris Agreement. Transparency is essential to reducing risk and credit to American companies. More than 7,000 of the world’s largest companies are revealing their carbon footprints. While the world’s 525 largest investors require those disclosures as part of their investment criteria, Although progress has already been made But the business community still has a lot to do. and to accelerate commitment and adoption of climate technologies and solutions.

Public opinion must support specific outcomes if change is to be achieved in a democratic society. An effective response to the climate crisis depends on public belief in climate change. Although this is not always the case. But a recent opinion poll This reflects that the country is united by believing that climate change is real. and a quick response is required today, Two thirds of Americans believes the government should do more about the climate which is a feeling that has two sides This is because more than half of Republican voters support initiatives. To reduce the impact of climate change, 79 percent of Americans say Priorities for the nation’s energy supply should be the development of alternative energy sources such as wind and solar. While the vast majority of citizens (58 percent) said government regulation was necessary to encourage businesses and individuals to become more dependent on it. about renewable energy

with public support The federal government is free to support carbon reduction and other climate action through behavior, policy making, and climate action. and their own check book The federal government accounts for a quarter of US GDP and is the nation’s largest employer. As a result, participating in an era of adoption has a transformative impact on sustainability and net zero emissions goals. both in sample settings and measurable effects.

to implement the latest legislative, regulatory and expenditure initiatives, such as those recently passed The Inflation Reduction Act (IRA) and the $369 billion investment in grants, incentives and tax credits. above all Both carrots and wood for various industries that still lag behind in reducing carbon A federal sustainability plan signed into law by President Joe Biden’s December 2021 is a historic plan, setting out guidelines to achieve net zero emissions in federal operations by 2050. It also outlines the federal government’s commitment. It will work with utilities, developers, technology companies, financiers and others to purchase electricity generated from carbon-neutral resources. including solar and wind power for all operations by 2030

The commitment and movement of the financial services sector are further indications of the coming of the adoption era. The era of innovation was marked by the use of venture capital in climate technology. But the traditional financial services sector operates more cautiously.

However, over the past few years, the largest and most prominent financial institutions have been leading the fight against climate change by aligning investment strategies and policies with net-zero targets and commitments. Environment, Society and Governance (ESG) for example, Net-Zero Banking Alliancewhich represents more than 40% of global banking assets. Set your industry’s own carbon emission targets. It also allocates loans and investments to organizations involved in reducing carbon emissions.

The results of this and other initiatives are tangible. In 2020 alone, the world’s top five markets recorded approximately $35.3 trillion in ESG investment. which is more than a third of all assets under management. and the latest survey of nearly 9,200 investors worldwide. meet 39% invest in companies with ESG performance

Finally, economics is not movement. drive results in free markets and ultimately capitalist societies. The era of innovation was high in evangelism but low in economic returns. However, the age of adoption was also proven by economics. Nearly 3.1 million jobs in the entire energy sector were in industry with net alignment. (net-zero-aligned), which accounted for 41 percent of all energy work. It is related to renewable energy. grid technology transmission and distribution energy storage nuclear energy biofuel energy efficiency and electric vehicles A recent study by the Brookings Institution meet Landing clean energy jobs can increase earnings by 8 percent to 19 percent. Additionally, the clean energy industry is replacing the blue-collar jobs in the country that have vanished over the past four decades. and pay higher wages than other industries To workers with the highest level of learning is a high school diploma.

Renewable energy not only creates jobs and high returns. It is also the cheapest source of new electricity in most markets around the world, according to the 2022 S&P. reportThe cost of renewable energy continues to drop rapidly as technological advances and government policies stimulate new investments in renewable energy. which resulted in a further drop in price. Critical climate technologies such as battery storage Although quite expensive But prices continue to fall as demand grows, and economies of scale continue to bend the cost curve.

The Industrial Revolution and the Legacy of Pollution carbon emissions And fossil fuels lasted more than two centuries without an immediate end. to successfully address the impacts of climate change The age of adoption would have to be measured over several decades. Or maybe not centuries. Countless high stakes And it’s up to us to decide if the Age of Adoption will live up to the promise of a few years ago or become just a tragic footnote in our world’s history.

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