It is now obvious that we need to ween ourselves off fossil fuels and adapt how we live. As businesses, we can play our part by decarbonising our facilities and processes.
But is there enough money being spent to get us to net zero?
Centropi helps businesses decarbonise by implementing energy-efficient lighting and water management systems. Whether you need new lighting or need to manage your water, we want to provide educational information on decarbonisation issues.
As of 2021 over 50% of the world's greenhouse gases (GHG) were generated by 4 countries; China, USA, India, and Russia with the first two taking up the lion's share.
Source (Our world in data)
Note that none of these countries have a carbon tax in place.
As of 2019 electricity and heat generation created the most CO2
Source(Our World In Data)
Public and private climate finance almost doubled from 2011 to 2020, and may have reached up to $940 billion in 2021!
And of this money, most is spent on renewable energy generation.
Avoiding the worst impacts of climate change could require $4.3 trillion a year by 2030; costs will only escalate as the Earth continues to warm.
The United NationsSecretary-General's Acceleration Agenda for 2023 outlines six critical actions for governments, businesses, and financial leaders.
The GCF is the world's largest climate fund, created by the Paris Agreement to channel finance to developing countries to fight climate change. Half its resources go to climate mitigation, and the other half to adaptation.
The fund partially supports climate justice through the lower cost of adaptation finance, which must be provided through grants or the equivalent. Further, half of the adaptation resources must go to the most climate-vulnerable countries, including small island developing states, the least developed countries, and African States.
In its first round of funding, from 2020 to 2023, the GCF raised $12.8 billion to improve the resilience of a billion people in 128 countries. A second round is underway to fund the GCF from 2024 to 2027, a period of urgent action for climate change and the Sustainable Development Goals.
Climate adaptation is becoming more expensive as the magnitude of climate change sets in. Countries may need to spend up to $300 billion a year by 2030 and $500 billion by 2050, according to the United Nations Environment Programme. Yet these estimated costs are 5 to 10 times greater than current funding flows.
There are more routes than ever for businesses to decarbonise, including but not limited to:
This is a short list, but doing any and all of the above can make a huge difference. Upgrading to investment-grade LEDs can save you up to 30% on your energy bill and save you 100s of tonnes of CO2 every year.
Here are 5 ways that you can fund your projects with low or little capital
If you have the will, we can help you find a way! Get in touch with Ivan and he will be happy to help you play your part in both local and global decarbonisation!
Do you think you are saving costs by deferring maintenance?Read Story
How do we add up our carbon emissions? Via Carbon accounting.Read Story