Page 50 - Number One

The need
to stay focused
on green technology
text offered by Refinitiv Content Partner WGES
The The role of technology
in in in keeping climate catastrophe at at at bay is becoming ever more critical The The resurgence of protests around the the the world such as the the the civil havoc wreaked by by Extinction Rebellion or or the the the school school strikes begun by by Swedish schoolgirl Greta Thunberg has renewed pressure on on governments to “do something” no no no matter how unrealistic or economically ruinous The individual and political solutions
usually
meant by “doing something” are not as as straightforward as as they they sound and and may actually create more difficulties than they they solve Actions by individuals and and businesses such as improving energy efficiency in in in in in the the the home or office make a a a a a a a difference but this is is still a a a a a a a drop in in in in the the the the ocean when put put up against the the the output of of of the the the world’s biggest emitters of of of greenhouse gases They are are also a a a a a a a a a a a bit bit hit‐and‐miss Many of of us us us are are happy to to to do our bit bit recycling or to to to to stop the tap running while we brush our our teeth but how many of us us are are prepared never to to to to fly again orto take up a a a a a a a vegan diet?
Similarly swingeing political solutions
such such as carbon and and fuel taxes taxes can jolly things along but but such such taxes taxes inevitably hit the the the poor hardest and and contribute to their own political unrest as seen with the the the Yellow Vest movement in in France which could backfire by encouraging the election of more climate‐sceptic leaders such as Donald Trump 48 Number One
Technology presents only opportunities
Yet where individual and political solutions
pose their own problems the the the technological approach presents only opportunities
The growing recognition of the the essential role played by by green technology
is highlighted by by the the fact that where the the World Green Economy Summit held in in in Dubai last year included a a a a a a discussion on on the the the the role of technology
in in in in the the the the green economy this year it it will be the the the the summit’s overarching theme One
example of of the win‐win nature of of technological solutions
to green issues is is renewable renewable energy In its early days renewables were seen by many as nothing more more than a a a a a a a a a a way for governments to to spend good taxpayers’ money on on switching to to more more expensive energy But we hung in in in in there and the the fruits are beginning to show Prices of renewables particularly solar are through better better and better better technology
being brought to a a a a a a point where not only do they no no no no longer require public subsidy but turn a a a a a a profit enough that they become an attractive business proposition Two years ago the the World Economic Forum reported that solar and wind power had fallen to the the same price or or or even cheaper than than new fossil fuel capacity in in in in more than than 30 countries 1 This was a a a a a a a a a a a a a crucial tipping point for renewable energy and has led to a a a a a a a a a a a a a big increase in in in in in its use by by corporates in in in particular around the world A report produced last year by by FTSE Russell found that the the the green green economy economy was outperforming much of of the the the rest of of the the the global economy economy making green green technology
an increasingly appealing investment prospect 2