The Fort Worth Press - Fossil fuels causing cost-of-living crisis: climate expert

USD -
AED 3.673042
AFN 63.503991
ALL 82.403989
AMD 368.150403
ANG 1.790403
AOA 918.000367
ARS 1465.449815
AUD 1.42747
AWG 1.8025
AZN 1.70397
BAM 1.705709
BBD 2.013483
BDT 122.708482
BGN 1.69088
BHD 0.37702
BIF 2985
BMD 1
BND 1.290663
BOB 6.90816
BRL 5.152304
BSD 0.999721
BTN 94.239742
BWP 13.585663
BYN 2.777729
BYR 19600
BZD 2.010527
CAD 1.41808
CDF 2280.000362
CHF 0.807795
CLF 0.02293
CLP 902.460396
CNY 6.769604
CNH 6.77389
COP 3452.68
CRC 453.506829
CUC 1
CUP 26.5
CVE 96.403894
CZK 21.091104
DJF 177.720393
DKK 6.516504
DOP 58.403884
DZD 133.34504
EGP 49.986489
ERN 15
ETB 158.37504
EUR 0.8723
FJD 2.235504
FKP 0.755711
GBP 0.756332
GEL 2.650391
GGP 0.755711
GHS 11.22504
GIP 0.755711
GMD 73.503851
GNF 8775.000355
GTQ 7.625892
GYD 209.119888
HKD 7.83843
HNL 26.68504
HRK 6.5697
HTG 130.583803
HUF 306.820388
IDR 17826.3
ILS 2.958195
IMP 0.755711
INR 94.330504
IQD 1310
IRR 1375000.000352
ISK 125.530386
JEP 0.755711
JMD 157.959917
JOD 0.70904
JPY 161.30504
KES 129.403801
KGS 87.450384
KHR 4010.00035
KMF 429.503794
KPW 900.00035
KRW 1527.650383
KWD 0.30793
KYD 0.833035
KZT 487.855928
LAK 22055.000349
LBP 89550.000349
LKR 333.641485
LRD 182.150382
LSL 16.405039
LTL 2.95274
LVL 0.60489
LYD 6.375039
MAD 9.225039
MDL 17.654036
MGA 4200.000347
MKD 53.732839
MMK 2099.479867
MNT 3580.422334
MOP 8.070939
MRU 40.060379
MUR 47.850378
MVR 15.450378
MWK 1737.000345
MXN 17.33726
MYR 4.137904
MZN 63.910377
NAD 16.403727
NGN 1360.440377
NIO 36.610377
NOK 9.69935
NPR 150.787532
NZD 1.745079
OMR 0.384983
PAB 0.999725
PEN 3.384039
PGK 4.38775
PHP 60.716504
PKR 278.325038
PLN 3.71375
PYG 6138.96617
QAR 3.640504
RON 4.568104
RSD 102.170373
RUB 73.103247
RWF 1464
SAR 3.74824
SBD 8.061424
SCR 13.683262
SDG 600.503676
SEK 9.590705
SGD 1.292404
SHP 0.746601
SLE 24.750371
SLL 20969.503664
SOS 571.503662
SRD 37.402504
STD 20697.981008
STN 21.4
SVC 8.747449
SYP 110.532098
SZL 16.403649
THB 32.890369
TJS 9.272075
TMT 3.5
TND 2.91175
TOP 2.40776
TRY 46.458745
TTD 6.779085
TWD 31.715038
TZS 2630.985038
UAH 44.909735
UGX 3638.520172
UYU 39.96965
UZS 12005.000334
VES 606.63266
VND 26310
VUV 118.132932
WST 2.751795
XAF 572.078806
XAG 0.015159
XAU 0.000239
XCD 2.70255
XCG 1.801643
XDR 0.703697
XOF 565.000332
XPF 104.250363
YER 238.603589
ZAR 16.429065
ZMK 9001.203654
ZMW 17.919703
ZWL 321.999592
  • CMSC

    0.0500

    22.37

    +0.22%

  • CMSD

    0.0000

    22.29

    0%

  • NGG

    -1.2400

    79.44

    -1.56%

  • VOD

    -0.2300

    14.3

    -1.61%

  • RBGPF

    -0.5300

    60.61

    -0.87%

  • RELX

    -0.8300

    31.18

    -2.66%

  • RYCEF

    -0.0300

    18.4

    -0.16%

  • BCC

    3.8500

    74.66

    +5.16%

  • JRI

    0.0500

    12.67

    +0.39%

  • RIO

    -2.5900

    100.08

    -2.59%

  • BCE

    0.0000

    23.28

    0%

  • GSK

    -1.4800

    50.67

    -2.92%

  • BTI

    -0.5800

    58.91

    -0.98%

  • BP

    -1.0400

    39.1

    -2.66%

  • AZN

    -2.9600

    174.93

    -1.69%

Fossil fuels causing cost-of-living crisis: climate expert
Fossil fuels causing cost-of-living crisis: climate expert / Photo: © AFP/File

Fossil fuels causing cost-of-living crisis: climate expert

The cost-of-living crisis pushing millions of people towards poverty in Europe is driven by fossil fuels, according to a leading Earth systems scientist, who has warned that global heating risks causing runaway climate change.

Text size:

Johan Rockstrom, director of the Potsdam Institute for Climate Impact Research and co-author of the new book Earth For All, said that spiralling inflation was in large measure a result of decades of government failures to decarbonise their economies.

"I find it very disturbing that our political leaders in Europe are unable to communicate that high living costs right now are caused by higher prices on fossil fuels," he told AFP at the book's launch on Tuesday.

"So this is fossil fuel-driven, supply-driven inflation. If 20 years ago you invested in solar (panels) or had a share in a wind farm, you're not affected today.

"The only reason why we have this crisis now is that we've had 30 years of underinvestment in preparing towards this turbulent phase which we knew would be coming," said Rockstrom.

"We've been saying since 1990 that we need to phase out the fossil fuel-driven economy towards a renewable-driven economy. And now here we are -- we're now hitting the wall."

European energy prices soared to new records last week ahead of what many analysts expect to be a challenging winter as Russia's invasion of Ukraine continues to disrupt oil and gas supplies.

The year-ahead contract for German electricity reached 995 euros ($995) per megawatt hour, while the French equivalent surged past 1,100 euros -- a more than tenfold increase in both countries from last year.

In Britain, energy regulator Ofgem said it would increase the electricity and gas price cap almost twofold from October 1 to an average £3,549 ($4,197) per year.

Rockstrom, who helped pioneer the concept of planetary boundaries -- thresholds of pollution or warming within which humanity can thrive -- said he hoped the current energy price crisis would be "communicated as another nail in the coffin" for oil, gas and coal.

"This should accelerate our transition towards renewable energy systems," he said.

- 'Giant changes required' -

Rockstrom has spent two years working on Earth For All -- a guide to help humans survive climate change -- with several of the authors of The Limits to Growth.

Written 50 years ago, that groundbreaking work warned that the development of civilisation could not go on indefinitely with no limit to resource consumption.

The new book outlines two growth trajectories this century.

The first -- "Too Little, Too Late" -- sees the economic orthodoxy of the last 40 years endure, leading to ever starker inequality as the Earth's average temperature rises by 2.5 degrees Celsius (36.5 degrees Farenheit) by 2100.

The second -- the "Great Leap" scenario -- sees unprecedented mobilisation of resources to produce five changes: eradicate poverty and inequality, empower women, transform the global food system towards more plant-based diets, and rapidly decarbonise energy.

In particular, the book says the International Monetary Fund must provide $1.0 trillion annually to poorer nations to create green jobs, and rich governments to cancel debt to low-income creditors while giving their own citizens a "universal basic dividend" to help share corporate windfalls.

Rockstrom said the tools are already available to make the Great Leap possible.

"(It) is to do with the current knowledge on all the current existing technologies and practices and policies. If we could put in place all the five turnarounds and scale them up very fast, that's the best outcome we can have."

- 'Urgency point' -

The project comes after another record-breaking summer that has seen unprecedented heatwaves and drought in Europe and China and devastating floods in Pakistan.

Rockstrom said the world had reached an "urgency point" as climate-linked disasters occur more frequently than predicted in climate models.

"Here we are -- at 1.1C (of warming now), the things that we thought would happen perhaps at 2C are happening much earlier and are hitting harder," he said.

Rockstrom was recently involved in a paper studying the "climate endgame" -- scenarios such as the complete melting of the Greenland ice sheet or heating "feedback loops", which are deemed by scientists to be extremely unlikely and, he believes, therefore understudied.

He explained the possibility of "self-amplified warming", which is when the Earth itself is triggered into producing emissions from carbon stored in forests and methane in permafrost.

"There is a risk of rolling towards a worst-case scenario, not because we are ploughing in more carbon dioxide and greenhouse gasses from (manmade) sourcing but that the Earth system itself starts emitting these greenhouse gasses."

Rockstrom said scientists needed to "open up a much broader palette of scenarios" in climate models that could incorporate the kind of low-probability, high-impact events that could lead to runaway warming.

As to whether governments were finally ready to take the kind of system-changing action needed to avoid climate meltdown, Rockstrom said that he was "actually quite pessimistic".

"If you asked me three years ago, I would have said I was optimistic -- we saw a post-Paris momentum and more policies coming into play and businesses stepping on board," he said.

"Now with the post-Covid meltdown in public trust and the rise of populism ... I cannot see that we are really ready to implement all these giant leaps.

"That's why timing is really important. We need to bring back the debate and we have to have a conversation about the urgency of action. But is it a challenge? Definitely."

T.Harrison--TFWP