As the World Bank said “the projected 4°C warming simply must not be allowed to occur”. Even the IEA, historically a kind of advocate in chief for the fossil fuel industry, came on board, pointing out that a stable climate and economy requires the majority of the global reserves of fossil fuels to never be burnt.
It is an extraordinary turn around when key mainstream economic institutions lay out the case for dismantling what is arguably the world’s most powerful business sector.
Of particular note in all this, observing both the message and the messengers, is that what was predominantly an ecological question is now primarily an economic one. This is a profoundly important shift, as economic risk is something society’s elites take very seriously. It also unleashes another major potential tipping point which we have seen signs of, but is not yet in full flight. When non-fossil fuel companies understand the broad economic risk posed by the lack of climate action, they will become genuine and strong advocates demanding climate action – in their own self-interest. This is one to watch carefully as it will see a major shift in the politics when it comes.
His entire post is worth reading. It should really cheer you up if you're frustrated with the lack of visible progress on climate action.
One last point I want to highlight:
I do not however think we should demonise the fossil fuel industry or the people involved in it. The job to remove this industry has to be done – the future of civilisation literally depends on it – but we can do this firmly and clearly without making it personal. As I’ve said in recent speeches on this topic – with some humour but a serious message – “we have to remove the coal, oil and gas industries from the economy with love and compassion.”
He's right about this. I recently wrote about the plight of coal miners that are being kicked off their health care. Human suffering among fossil fuel workers may become more common as the fossil fuel industry shrinks. We have to be compassionate to those workers and help them adjust to the new economy.