How The U.S. Fell Behind China In The Fight Against Climate Change

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Anyone who thinks solar panels are renewable doesn’t understand materials science. It’s not like you just build them and have a fixed energy output every year forever. These things break down and need to be replaced and repaired every 20 or so years. That requires metals. Even relatively abundant metals like copper are hitting peak availability.

Don’t get me wrong, this is a great start. But to think that there is a long term sustainability play in wind and solar is foolish. It’s a bandaid at best.

👍︎︎ 26 👤︎︎ u/thehourglasses 📅︎︎ Nov 20 2020 🗫︎ replies

Yes they might produce a lot of solar panels, but are they actually implementing them themselves? or just selling them to the rest of the world? Are they not still one of the primary polluters of the world and largest consumers of coal? Or is my understanding outdated? Legit question

👍︎︎ 2 👤︎︎ u/hair_monk 📅︎︎ Nov 20 2020 🗫︎ replies
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In 2013, pictures of extremely smoggy Chinese cities hit the Internet and the world reacted with shock. The air quality index reportedly rose to nine hundred and ninety three in certain neighborhoods and absolutely off-the-charts f igure. Living in Beijing was equated to living in an airport smoking lounge. People were dying at the rate of four thousand a day. It's not that people didn't know that pollution in China was a problem. Since around 2006, China has been the global leader in annual carbon emissions, surpassing the U.S. But seen the images alongside the data drove it home. The country was in bad shape. Previous attempts at climate diplomacy had failed to elicit real change. But in 2015, China and the U.S. both helped negotiate the Paris Agreement. Each country set emissions targets intended to be strengthened over time. So we've seen the last decade an incredible rate of growth in China of clean tech, pushed in no small measure by air quality concerns, but equally pushed by the idea of China being a global marketer for clean alternatives. The country has become the world's largest manufacturer of solar panels, lithium ion batteries and electric vehicles. China buys over half of the world's new electric cars and nearly all of the world's electric busses. So when Trump withdrew the U.S. from the Paris Agreement, China became the signatory with the most economic clout and a de facto climate leader. In some ways, China has stepped up. President Xi Jinping recently announced the country's intent to be carbon neutral by 2060, strengthening previous commitments. But climate leader is a complicated designation for a country that also burns more coal than the rest of the world combined. And while experts say that international pressure could push China to decarbonize more quickly, frayed U.S.-China relations might make climate cooperation difficult for new President-elect Joe Biden. That trust that was built up over the eight years of the Obama presidency, that needs to be rebuilt. Biden says he wants to reassert American leadership in the fight against climate change. For starters, he plans to recommit to the Paris Agreement and invest two trillion dollars in clean energy initiatives. That's going to mean, first and foremost, bringing a domestic conversation to the fore, succeeding. You can't talk to the rest of the world about what you intend to do internationally unless you've got something at home. But when it comes to domestic and international climate commitments, the U.S. has undoubtedly fallen behind China. Here's how it happened and what it means for the fight against climate change. Unlike the U.S., where CO2 emissions have been on the rise since the Industrial Revolution, China's emissions remained minimal throughout much of the 20th century. But beginning in 1979, economic reforms loosened state control over private industry and opened up trade with the rest of the world. This, combined with widely available, cheap labor, exploitative working conditions and permissive health, safety and environmental regulations, led to a manufacturing boom and rapid infrastructure build out. But it came at a cost. Starting in 2001, when China joined the WTO, it tripled its coal consumption to power its economic miracle - a decade when it quadrupled its GDP and quintupled its exports. So that was devastating in terms of its environmental impact, even as it enabled China to lift hundreds of millions of people out of poverty. But when it came to the point in 2013 where people couldn't breathe, that's when China realized that it needed to rein in coal. That year, the government announced a $277 billion dollar plan to decrease pollution in Beijing by curbing coal use and vehicle emissions. That helped set the stage for China's participation in the 2015 Paris Agreement negotiations, in which nearly 200 countries committed to individual emissions targets with regular reviews and updates required. China's Paris commitments included a pledge to peak emissions by 2030, after which CO2 levels would decrease. The country boosted its investment in green energy as it decided that bold climate action was in its best interest, both economically and geopolitically. As China tries to build its status on the global stage, i t definitely sees no benefits from being a leader in clean energy and renewables. While China's single-party authoritarian system often leads to corruption and inefficiency, i t does allow the country to act decisively when it comes to investing in green energy tech and infrastructure, such as the billions of dollars in subsidies that it's poured into electric vehicle development. In the U.S., similar efforts often get tied up in partisan battles, not to mention skepticism over the science behind climate change itself, something that's not up for debate among Chinese decision makers. It's a debate about balancing risk and cost. It's a debate about obligation and responsibility. But it so far has never been a debate about the reality of the science. That's been accepted. Mostly, the Chinese government views renewable energy as a major economic opportunity. Now it's the leading producer, investor and consumer of renewable energy in the world. Nearly one out of every three solar panels and one out of every three wind turbines in the world is in China today. It's also home to half of the world's electric cars and 98 percent of its electric busses. China is huge, though. So while it produces the most renewable energy in absolute terms, that doesn't necessarily translate to a drastically higher share of the mix. About 13 percent of energy consumed in China comes from renewables, compared to 11 percent in the U.S. and about 18 percent in the European Union as a whole. China has committed to raising that proportion to 20 percent by 2030, b ut to do so, the country will need to definitively move away from coal, which still makes up 58 percent of the energy mix. And that won't be easy. Half of China's coal is burned in heavy industry directly. China's factories produce half of the world's steel and cement. And unfortunately, right now, we don't have readily available alternatives that are cost-effective. So that's going to require China to expend massive investments and efforts in order to develop cleaner alternatives for industries, such as green hydrogen. Because heavy industry involves heat-intensive emissions-producing processes, it is notoriously difficult to decarbonize. And natural gas, the cleanest fossil fuel source, is not as easily available in China as it is in the U.S. So to meet the country's growing energy needs, China has actually been relaxing restrictions on building new coal plants. After peaking during the so-called "airpocalypse" of 2013, total coal consumption has ticked upwards again for the last three years. And as of June 2020, there were 249.6 gigawatts of new coal power in development. That's greater than the total amount of coal capacity in either the U.S. or India. It's a big problem for a nation that's trying to position itself as a global climate leader and a trend that can't continue if China is going to meet the new, stronger targets it just set at the U.N. General Assembly, when President Xi Jinping announced the country's intent to peak emissions before 2030 and attain carbon neutrality by 2060. The Paris Agreement on climate change charts the course for the world to transition to green and low-carbon development. It outlines the minimum steps to be taken to protect the earth, o ur shared homeland, and all countries must take decisive steps to honor this agreement. Xi's announcement contrasted sharply with remarks made by President Trump earlier in the day, in which he attacked China's environmental record while making no mention of any national climate goals for the United States. Those who attack America's exceptional environmental record while ignoring China's rampant pollution are not interested in the environment. They only want to punish America. And I will not stand for it. But internationally, Xi's speech made waves, with both Japan and South Korea since announcing their own plans to reach carbon neutrality by 2050. So China's announcement is providing some really needed momentum in the international climate negotiations. And it's also a major game changer in the domestic realm, because what we're already seeing is that every ministry and every company, every state-owned enterprise, every research institute now has to take climate and this carbon neutrality pledge into account. Experts say that it will be an unprecedented challenge and success will rely upon the country's further expansion of the already booming renewable energy industry, combined with major investments in nascent energy technologies like green hydrogen and carbon capture and storage. Wind and solar, I think are pretty clearly going to be an important part of the toolkit to reach net-zero. In the next 10 years, I think we want to see energy storage, hydrogen, all of those things be competitive with their fossil counterparts. So governments need to be supporting those and scaling those up. It's going to be a balancing act. Does coal go away before the climate warms too much? Do renewables grow fast enough so they can take advantage of that virtuous cycle? Will demand for new energy require both? Or can they creat e a model in which clean energy wins and dirty energy is withdrawn from the system? That's the test. And we don't yet know the outcome. But as China builds on its commitments under the Paris Agreement, the United States is just trying to get back into the game. In 2016, four days after the Paris agreement entered into force, America elected Donald Trump as its next president and the implications for global climate cooperation were immediate. Trump questioned the scientific consensus on climate change and announced that the U.S. would leave the Paris agreement, claiming that it was unfair and developing countries should be doing more. Look at China, how filthy it is. Look at Russia. Look at India. It's filthy. The the air is filthy. The Paris Accord, I took us out because we were going to have to spend trillions of dollars and we were treated very unfairly. While the U.S. was not allowed to formally withdraw until November 4th of this year, t he Trump administration had already abandoned dozens of Obama-era climate policies, rolling back regulations to reduce emissions from power plants and weakening rules that encourage the development of fuel-efficient vehicles. While Biden plans to rejoin the Paris Agreement , the U.S. is not on track to meet its emissions targets. It lost us critical time that we could ill afford to lose as we were seeking to make these global deep reductions. We know what the world of a degree and a half of warming will look like, and it's bad. And we know the world of two degrees and it's worse. And we have lost four years of growing a global consensus around more aggressive action. The Paris Agreement's initial goals were met only as a starting point, and its future success depends on nations pushing each other to set increasingly bold emissions targets. If you added up all the Paris climate pledges that were made in 2015, they wouldn't bring us even one third of the way towards achieving the two degrees Celsius target, let alone the 1.5 degrees Celsius target. No country's Paris commitments were sufficient. So in order to get where we need to go, every country needs to step up. When the U.S. left, Pershing says it did cause an overall slowdown in international climate action and commitments. But importantly, the agreement remained intact, leaving the U.S. behind. The world did not abandon the agenda when the U.S. left. China didn't do very much, but it didn't walk away. It did make massive investments in renewable energy. It did maintain its commitment to meet its obligations under Paris and in fact, is quite close to getting to the target that it had pledged. Now, with China's newly updated climate targets, it certainly seems like the country has the political will to decarbonize, if not all the tech to make it possible. And once Biden takes office in January, he's promised that the U.S. will prioritize climate change again too, rejoining other climate leaders like the European Union and India, who are also pursuing bold energy investments and emissions goals. In a new administration, th ere's several things the U.S. needs to do right away in order to restore its climate leadership. And the first, of course, is to rejoin the Paris Agreement, which can be done very easily. The second is to strengthen its existing Paris commitments, l ike every country was supposed to do this year. The U.S. had initially pledged to reduce emissions by 26 to 28 percent below 2005 levels by 2025. But that goal was deemed "critically insufficient" by Climate Action Tracker, an independent website that measures country-level progress towards the goal of keeping global warming below 1.5 degrees Celsius. By the same metric, China's Paris commitments were deemed "highly insufficient," the second worst designation. It's clear that both nations must strive for more stringent targets. Together, the two superpowers represent about 40 percent of global GDP and 42 percent of global carbon emissions. So they'll need to cooperate despite their strained relationship. The issues around trade, the issues around human rights, the issues around Hong Kong or Taiwan which divide us are very significant. How that plays out for a new administration that wants to work on climate remains to be seen. But we should be clear - there isn't a solution for the global community unless China is in. And almost as clearly there isn't a solution with the U.S. not in. Luckily, some think that climate policy provides a natural opportunity for partnership and can lead to a mutually beneficial race to the top for innovation in green tech. I think this will be an area that remains one for positive collaboration, discussion, friendly competition. I think the United States still leads the world in innovation and can lead the world in the development of next generation technologies that will be necessary for us to reach the Paris climate targets. Finamore also says that if the U.S. wants to avert a climate disaster, it must join China in adopting a net-zero emissions target. A number of other nations, including the UK, France and New Zealand, have already made such a pledge. That means that three fifths of global CO2 emissions would be covered. This is incredibly important. This is the really only way that we are going to have a chance of avoiding the most catastrophic impacts of climate change throughout the world.
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Channel: CNBC
Views: 670,958
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Keywords: CNBC, business, news, finance stock, stock market, news channel, news station, breaking news, us news, world news, cable, cable news, finance news, money, money tips, financial news, Stock market news, stocks
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Length: 15min 42sec (942 seconds)
Published: Sun Nov 15 2020
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