Carbon Tracker introduced the concept of stranded assets to get people thinking about the implications of not adjusting investment in line
with the emissions trajectories required to limit global warming.
The domestic mitigation effort is defined so as to match the rapid decline needed to put the EU on course toward 90 % reductions relative to 1990 levels by 2050, consistent
with the emission trajectory for Annex I countries presented in Figure 3 above.
This is most clearly demonstrated by the fact that global CO2 emissions have now been flat for three years, which is greatly at odds
with every emissions trajectory from the fossil fuel industry or major modelling institutions like the IEA or US EIA.
Not exact matches
If carbon
emissions continue on their current
trajectory,
with global temperatures rising by 2.6 C to 4.8 °C by 2100, applications could increase by 188 percent, leading to an extra 660,000 applications filed each year.
This compares
with a business - as - usual
trajectory of a 35 percent increase in
emissions over the next four years.
«Lower
emissions» are in line
with Paris agreement targets; «higher
emissions» represent current, business - as - usual
trajectories.
It's put climate change leaders in a variety of key positions, made climate change a priority in initiatives in departments and agencies, revitalized the US Global Change Research Program and other interagency efforts, working
with other major emitting countries, both industrialized and developing, to build technology cooperation and individual and joint climate policies consistent
with avoiding the unmanageable, and is working
with Congress — and this is the toughest part really — working
with Congress to get comprehensive energy and climate legislation that will put us on a responsible
emissions trajectory.
As we discussed recently in connection
with climate «forecasting `, the kinds of simulations used in AR4 are all «projections» i.e. runs that attempt to estimate the forced response of the climate to
emission changes, but that don't attempt to estimate the
trajectory of the unforced «weather».
When you look at real world scenarios, including studies that look at actual
trajectories in
emissions compared
with the cuts needed for 2 degrees (see, for example, figure SPM.5, left panel or the very influential Peters et al 2012 article) a totally different picture emerges.
On the overarching question of «solving» the climate problem, I'm sure Joe would agree that global warming is inevitably going to be, at best, managed — not «fixed» — given the
trajectories for
emissions in a world inexorably headed toward roughly nine billion people seeking energy - enabled lives and
with substantial warming already in the pipeline, according to a heap of research.
I had a recent phone chat
with Susan Solomon of the National Oceanic and Atmospheric Administration about the CO2 challenge in the face of
emissions trajectories like those in the oil companies» reports.
In the New Policies Scenario, the world is on a
trajectory that results in a level of
emissions consistent
with a long - term average temperature increase of more than 3.5 °C.
Maybe the rich nation seeking an offset could offer to pay the difference between clean and dirty so that it isn't simply building new infrastructure
with no (simple direct) impact on
emissions trajectories, although that seems stingy somehow.
(My issue
with carbon pricing is simply the lack of evidence that anyone, anywhere, is willing to set a price that would meaningfully influence
emissions trajectories.)
We take the concept of remaining committed
emissions developed in Steve's 2010 paper
with Caldeira and Matthews and work out the
trajectory of that value for the global power sector each year over the past 60 years (the earlier paper reported the value for only a single recent year).
But I do agree
with the Breakthrough point that an overemphasis on current events as the reason to pursue the decades - long task of shifting global greenhouse
emissions trajectories can backfire, and in more ways than they describe.
He said the targets were in line
with a long - term
trajectory for
emissions that scientists had defined as avoiding the worst risks, but only if all countries — including emerging economic powers among developing countries — did their part, as well.
In the near term, federal policy could: i) level the playing field between air captured CO2 and fossil - fuel derived CO2 by providing subsidies or credits for superior carbon lifecycle
emissions that account for recovering carbon from the atmosphere; ii) provide additional research funding into air capture R&D initiatives, along
with other areas of carbon removal, which have historically been unable to secure grants; and iii) ensure air capture is deployed in a manner that leads to sustainable net - negative
emissions pathways in the future, within the framework of near - term national
emissions reductions, and securing 2 °C - avoiding
emissions trajectories.
One
emissions trajectory compatible
with 2C (thick black line) and various rates of conventional mitigation considered in the study (coloured lines).
In addition to the text of the proposed rule, EPA issued a Regulatory Impact Analysis for the Clean Power Plan, 4 along
with numerous technical supporting documents and fact sheets.5 In October 2014, EPA issued a notice of data availability, which provided discussion and solicited additional comment on several topic areas, including the 2020 - 29 compliance
trajectories.6 Also in October 2014, EPA issued a supplemental proposal to address carbon pollution from affected power plants in Indian Country and U.S. territories.7 In November 2014, EPA issued an additional technical support document providing examples of how a state could translate its rate - based goal into an equivalent mass - based goal, expressed in metric tons of CO2.8 In November 2014, EPA also issued a memo addressing biogenic CO2
emissions from stationary sources that explicitly relates this topic to the implementation of the Clean Power Plan.9
Indeed, his core objection appears to be
with technology fixes in general, or the conviction that any bit of technological derring - do — be it a high - efficiency photovoltaic cell or a low -
emissions vehicle — will be sufficient to nudge the planet from unpleasant
trajectories like global warming.
The chart above illustrates potential CO2
emission trajectories under EMF 27 full technology scenarios8 targeting a 2oC pathway (Assessed 2oC Scenarios) relative to the 2018 Outlook, and baseline pathways (Assessed Baseline Scenarios)
with essentially no policy evolution.
If the overall cap for any year is set below the level of
emissions last year, on a downward
trajectory compatible
with stabilizing concentrations at a safe level, reserving some credits for new entrants would force other firms to bid for fewer permits, raising prices and increasing the number of mitigation activities that are worth undertaking.
Stated another way, ignoring climate change allowed Blue to ignore the need to compare his company's greenhouse - gas -
emissions trajectory with what the science tells us must be done to retain a recognizable climate.
On the basis of realistic
emission trajectories — we should probably expect the lower limit of projections — and that
with great uncertainty.
We've released already about 300 GTn of carbon, business as usual estimates are about 1600 GTn of carbon released by 2100
with business - as - usual
emission trajectories and some feedbacks.
First, the complicated models that develop
emissions scenarios don't seem to be necessary for forcing the climate models; simply specifying a value of CO2 concentration (
with the other greenhouse gases and anthropogenic aerosol) at 2100 along
with a simple time
trajectory is sufficient to force the climate model.
«To bend the
emissions curve and put the world on a
trajectory in line
with the Paris Agreement we need to radically reduce the amount of fossil fuels we burn and investors have a crucial role to play in that.
Finally, it should be noted that socioeconomic hypotheses associated
with the lower
emission trajectories (such as the one commented upon by Tim Worstall) imply a greatly increased use of nuclear and fossil fuels, especially cooal and natural gas, and the share of renewable sources reaching much less than the «80 %» claimed by the recent «renewable energy» IPCC report.
In figure 1, we calculated the warming
trajectories not only for
emission pathways
with zero
emissions floors, but also for pathways
with non-zero floors.
The 15
emission trajectories are created by combining three possible pathways, shown here in black,
with five possible
emissions floors, shown here in coloured solid lines, as outlined in § 2a.
The main purpose of the first phase (development of the RCPs) is to provide information on possible development
trajectories for the main forcing agents of climate change, consistent
with current scenario literature allowing subsequent analysis by both Climate models (CMs) and Integrated Assessment Models (IAMs).1 Climate modelers will use the time series of future concentrations and
emissions of greenhouse gases and air pollutants and land - use change from the four RCPs in order to conduct new climate model experiments and produce new climate scenarios as part of the parallel phase.
The science - based targets approach is in line
with the latest Intergovernmental Panel on Climate Change report which calls for a global
emission trajectory to keep global warming below 2 degrees Celsius.
This puts
emissions on a long - term
trajectory consistent
with stabilizing the concentration of greenhouse gases in the atmosphere at around 650 parts per million CO2 equivalent, suggesting a long - term temperature rise of over 3.5 [degrees Celsius].»
- The 2 °C Scenario (2DS) lays out an energy system pathway and a CO2
emissions trajectory consistent
with at least a 50 % chance of limiting the average global temperature increase to 2 °C by 2100.
This means the Commission now has 12 months to devise a strategy for aligning the EU's
emissions trajectory to 2050
with the Paris Agreement, and hence that the process has been set in train that could ultimately at some point in the next three to five years lead to an EU - ETS cap aligned
with the objective of restricting the increase in the average global temperature to «well below 2 °C».
Indeed, we estimate that the extra tightening of the EU - ETS cap required to align
with a Paris - compliant EU - wide
trajectory for 2030 and beyond would require incremental
emissions reductions of 1.6 Gt over 2021 - 30 versus our base - case scenario under the current cap.
«The
trajectory of our voluntary commitment shows very clearly that we are reducing
emissions much more than many developed countries... We came here to positively move the process forward to ensure we come out of Paris
with an enhanced climate regime.»
How would the resulting
emissions trajectory compare
with the
trajectory that is likely to be set by policy - makers as part of a purely cap - and - trade approach?
Its main message — largely missing from news reports and blogs alike — is that carbon
emissions interact
with a wide range of other factors, from volcanic activity to El Niño weather patterns, in determining the
trajectory of global temperatures.
Given current
emissions trajectories, there is a chance that the temperature increase by 2100 could be near 6oC.21 The last time Earth exhibited a global mean temperature that high, what are now sagebrush grasslands in the southwestern Wyoming and Utah were covered by subtropical, closed canopy forests interspersed
with open woodlands (Townsend et al., 2010), reminiscent of subtropical areas in Central America today.
Mixing wind and solar even
with coal - fired generation would be incentivised as long as it fits
with as the
emissions reduction
trajectory.
The USA has to accelerate its reductions in
emissions even to stay on track
with the inertia
trajectory.
GHG
emission trajectories that are consistent
with the goal of keeping global warming below 1.5 or 2ºC, translate into a global carbon budget that represents a de-facto
emissions cap for the whole economy.
But the cut in the warming
trajectory was far sharper for a switch to energy sources
with near - zero
emissions — such as nuclear, wind, or solar energy.
However, according to CAN Europe the lacklustre compromises reached between the major political groups have done little to repair the broken scheme or align Europe's
emissions trajectory with the global temperature goals it committed to under the Paris Agreement.
This new study shows how we can massively increase action on land use — in tandem
with increased action on energy, transport, finance, industry and infrastructure — to put
emissions on their downward
trajectory by 2020.
As we discussed recently in connection
with climate «forecasting `, the kinds of simulations used in AR4 are all «projections» i.e. runs that attempt to estimate the forced response of the climate to
emission changes, but that don't attempt to estimate the
trajectory of the unforced «weather».
The Golden Rules Case puts CO2
emissions on a long - term
trajectory consistent
with stabilising the atmospheric concentration of greenhouse - gas
emissions at around 650 parts per million, a
trajectory consistent
with a probable temperature rise of more than 3.5 degrees Celsius (°C) in the long term, well above the widely accepted 2 °C target.