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Economy

ET Index blog series: Climate Risk

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I was at an event recently where the ‘point person for carbon’ from a well-known bank told me 10 degrees of warming was not such a big deal because “there are other places in the world where it is already 10 degrees warmer than it is here – and they are fine”. If only it was so simple… Sam Gill, CEO of ET Index writes.

For those yet to trawl through the hundreds and hundreds of pages of scientific evidence on the matter, the global average temperature is rising, which is why it is called global warming. There will always be regional variation. Sadly the problem is very real.

So just why is climate change such a problem?

It is not so much that the world will end. In fact planet Earth will be fine; it has been through all of this before in its billion year-long history. It is the people, animals and wildlife that live on it that are in trouble. Extreme shifts in the Earth’s climate have previously wiped out virtually every living organism on the Earth’s surface. In humanity’s relatively short existence on Earth, civilisations have collapsed as a result of rapid changes in climate by failing to adapt in time. The challenge will be adapting to such a rapid shift in temperature in such a short space of time, and the ensuing global systemic stresses that will be magnified as a result.

Climate change has been dubbed a ‘threat multiplier’. It will exacerbate every existing tension within what is already a fragile global system. Take for example the recent flux of refugees seeking to enter Europe. What is likely to happen when large swathes of the Earth become uninhabitable? How much violent conflict are we likely to see as resources such as water become ever more scarce? Sadly the answers to these questions are bleak. A recent Foreign Office report has likened climate change to the threat of nuclear war.

Climate change is a risk because it will lead to devastating consequences that some commentators argue are not compatible with globally organised society. Indeed respectable scientists point out that in a 4 degree world by the end of this century the planet will likely be able to sustain less than one billion people, which means approximately 9 people being wiped out. That really would be climate Armageddon.

Fear not. We have the tools to tackle the problem. The key is to create the incentives to use them. But the window of opportunity for action is closing. In the last post in this series we will explore a concrete mechanism designed to address the climate crisis.

In the next post we explore the notion of ‘carbon risk’.

Economy

A Good Look At How Homes Will Become More Energy Efficient Soon

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energy efficient homes

Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.

There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.

1. The Rise Of Smart Windows

When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.

If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.

2. A Better Way To Cool Roofs

If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.

Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.

3. Low-E Windows Taking Over

It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.

They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.

4. Magnets Will Cool Fridges

Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.

The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.

5. Improving Our Current LEDs

Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.

That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.

Maybe Homes Will Look Different Too

Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.

ShutterStock – Stock photo ID: 613912244

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Economy

IEMA Urge Government’s Industrial Strategy Skills Overhaul To Adopt A “Long View Approach”

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IEMA, in response to the launch of the Government’s Industrial Strategy Green Paper, have welcomed the focus on technical skills and education to boost “competence and capability” of tomorrow’s workforce.

Policy experts at the world’s leading professional association of Environment and Sustainability professionals has today welcomed Prime Minister Teresa May’s confirmation that an overhaul of technical education and skills will form a central part of the Plan for Britain – but warns the strategy must be one for the long term.

Martin Baxter, Chief Policy Advisor at IEMA said this morning that the approach and predicted investment in building a stronger technical skills portfolio to boost the UK’s productivity and economic resilience is positive, and presents an opportunity to drive the UK’s skills profile and commitment to sustainability outside of the EU.

Commenting on the launch of the Government’s Industrial Strategy Green Paper, Baxter said today:

“Government must use the Industrial Strategy as an opportunity to accelerate the UK’s transition to a low-carbon, resource efficient economy – one that is flexible and agile and which gives a progressive outlook for the UK’s future outside the EU.

We welcome the focus on skills and education, as it is vital that tomorrow’s workforce has the competence and capability to innovate and compete globally in high-value manufacturing and leading technology.

There is a real opportunity with the Industrial Strategy, and forthcoming 25 year Environment Plan and Carbon Emissions Reduction Plan, to set long-term economic and environmental outcomes which set the conditions to unlock investment, enhance natural capital and provide employment and export opportunities for UK business.

We will ensure that the Environment and Sustainability profession makes a positive contribution in responding to the Green Paper.”

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