Elena's Movie Review Madness

Reviews from my 11-year old mind!

There is growing evidence that a significant shift in savings and spending towards low-carbon, climate-resilient infrastructure and services requires the development of global and national financial systems. It is estimated that, in addition to the allocation of climate-friendly public investments, it is necessary to reduce annual capital income1 from 5 to 10% to limit warming to 1.5oC, Table 1 of Box 4.8. This could be facilitated by a change in incentives for daily private spending and by diverting savings from speculative and precautionary investments to low-carbon, long-term facilities and services. This involves mobilizing institutional investors and integrating climate finance into the regulation of financial and banking systems. Access to low-risk financing and reduced interest rates through multilateral and national development banks (average evidence, high support) should be facilitated by developing countries. New forms of public-private partnerships, with multilateral, sovereign and sub-state guarantees, to prevent the risks of climate-friendly investment, support new business models for small businesses and support households with limited access to capital, may be needed. Ultimately, the aim is to encourage a transfer of the portfolio to long-term low-carbon investments that would help divert capital from potentially stranded assets (average evidence, average agreement). Most CDR options are subject to several feasibility limitations, which differ between options, limiting the potential of each option to achieve the 1.5oC (high security) routes defined in Chapter 2. These 1.5oC lanes are generally dependent on carbon capture and storage bioenergy (BECCS), reforestation and reforestation (AR) or both to neutralize costly emissions to avoid or to reduce CO2 emissions that exceed the CHARBON budget (Chapter 2). Although technically and geophysically feasible, BECCS and AR sometimes face overlapping but different constraints related to land use. The soil footprint per tonne of CO2 is higher for the AR than for the BECCS, but given the current low level of use, the speed and scales required to limit warming to 1.5oC is a major challenge for implementation, although the problems of public acceptance and lack of economic incentives need to be addressed (high consent average evidence). The great potential for reforestation and fund development, with appropriate implementation (. B for example biodiversity and soil quality), will decrease over time, because forests are saturated (high confidence).

Energy requirements and economic costs associated with direct capture and carbon storage in the air (DACCS) and weather improvement remain high (average data, average agreement). At the local level, carbon sequestration in soils has a common advantage with agriculture and is profitable even in the absence of a climate policy (high confidence). Its potential feasibility and cost-effectiveness at the global level appear to be more limited. To combat climate change, countries adopted the Paris Agreement on 12 December 2015 at COP21 in Paris. The agreement came into force less than a year later. In this agreement, all countries agreed to limit the increase in global temperature to a level well below 2 degrees Celsius and to aim for 1.5 degrees Celsius in the face of serious risks. Like many sectors, oil and gas are severely affected by the coronavirus pandemic, with fossil fuel production down 7% from the previous year, according to preliminary estimates. But the decline in production is probably temporary, unless countries and industry players change course.

Limiting warming to 1.5 degrees Celsius above pre-industrial levels would require an integrated systemic transformation into sustainable development.

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