Keep the
ice caps frozen. Fossil free. Not politicians, but you will save the world.
Creation is sacred, stop destroying our world. These were some of the messages
on the banners carried by nearly 400,000 people – men and women, young and old
– who participated in the “Peoples Climate March” in New York City, ahead of
the UN Climate Summit held on September 23, 2014.
The New
York march was the largest of 2,646 events in 156 countries, which provided a
strong platform for ordinary made it clear that urgent action is needed to
combat climate change. But something else of notable consequence emerged ahead
of the UN Climate Summit. The Rockefeller Brothers Fund has announced that it
eliminated investments in coal and tar sands was in the process of unwinding
the broader realm of investments fossil fuels while increasing investments in
alternative energy sources.
About $4.2 billion in assets held by the Rockefeller
Brothers Fund and 50 other foundations will no longer be invested in fossil
fuel companies. In all, philanthropies, faith-based organizations, universities
and pension funds have pledged to divest assets worth more than $50 billion
from portfolios. In the grand scheme of things, this is not huge, but it is a
significant signal, especially to countries such as Kenya that are on the cusp
of the hydrocarbon bonanza.
At the UN
Climate Summit, politicians affirmed that of all the immediate challenges
facing the world today, the urgent and growing threat of climate change was the
most profound. The strong growth of the global economy before the financial
meltdown was characterized by massive surge in greenhouse gas emissions from an
exponential increase in the use of fossil fuels. It is estimated that the world
pumped an estimated 36 billion tonnes of carbon dioxide into the atmosphere
last year, a 2.3 per cent increase from 2012.
India’s
emissions grew by 5.1 per cent in 2013. China’s emissions grew by 4.2 per cent,
while US emissions grew by 2.9 percent. For many years, these top three carbon
dioxide emitters have maintained that cutting global emissions and
transitioning to cleaner energy would undermine economic growth. Groups opposed
to climate change action argue that the only way to cut emissions substantially
is to eliminate economic growth. Nothing could be more simplistic and naïve.
A new
study, “The New Climate Economy”, argues that efficient
investments could deliver at least half of the emission cuts needed by 2030 to
keep global temperatures in check, while delivering extra economic gains. The
report further argues that putting a price on carbon would have large
co-benefits, positive benefits beyond reducing climate risks, like reduction in
the number of people sickened and killed by pollution from fossil fuels.
Our
generation will be the first to bear the brunt of climate change. But ours, backed
by unprecedented advances in science and technology, is also the only
generation that has the capacity to act boldly to slow global warming and heal
the planet. As noted by US President Barack Obama in his address to the UN
Climate Summit, “we cannot condemn our children and their children to a future
that is beyond their capacity to repair”.
When it comes to combating climate change there can be no
such thing as common but differentiated responsibility (CBDR). All of us –
industry, individuals or countries – must recognize our role in creating the
carbon problem and accept responsibility to clean it up. We afford the luxury
of waiting for an international agreement to combat climate change.
Nothing captures the essence of our common and
undifferentiated obligation to our planet better than the words sang by Natasha
Bedingfield at the closing of the UN Climate Summit. “Looking
down from up on the moon; It’s a tiny blue marble; Who would have thought the
ground we stand on could be so fragile; This is a love song to the earth;
You’re no ordinary world; A diamond in the universe; Heaven’s poetry to us; Keep
it safe, keep it safe, keep it safe; Cause it’s our world, it’s our world”.
Africa can
skip the dirty phase of development. The notion that economic development and
action to combat climate change are incompatible is short-witted and unconscionable.
Moreover, if we truly believe in free market economy, we must trust that it is
adaptive and creative enough to respond to carbon pricing. Do we have the
courage to act?