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

USD -
AED 3.672503
AFN 64.501461
ALL 81.350154
AMD 368.601612
ANG 1.789884
AOA 917.999754
ARS 1395.500175
AUD 1.386963
AWG 1.8
AZN 1.697502
BAM 1.664922
BBD 2.017519
BDT 122.90693
BGN 1.668102
BHD 0.378325
BIF 2981.344252
BMD 1
BND 1.268148
BOB 6.921708
BRL 4.9429
BSD 1.001694
BTN 94.415643
BWP 13.412506
BYN 2.830826
BYR 19600
BZD 2.014625
CAD 1.36635
CDF 2316.000097
CHF 0.780103
CLF 0.022639
CLP 891.00002
CNY 6.80185
CNH 6.80805
COP 3739.23
CRC 459.54114
CUC 1
CUP 26.5
CVE 93.86572
CZK 20.719799
DJF 178.37594
DKK 6.370898
DOP 59.575193
DZD 132.081983
EGP 52.734703
ERN 15
ETB 156.416039
EUR 0.85258
FJD 2.189202
FKP 0.735472
GBP 0.73757
GEL 2.680233
GGP 0.735472
GHS 11.269164
GIP 0.735472
GMD 72.999755
GNF 8791.554931
GTQ 7.648696
GYD 209.575129
HKD 7.83295
HNL 26.609949
HRK 6.422498
HTG 131.198897
HUF 304.471019
IDR 17346.8
ILS 2.901355
IMP 0.735472
INR 94.489903
IQD 1310
IRR 1312899.999648
ISK 122.580604
JEP 0.735472
JMD 157.783169
JOD 0.709057
JPY 156.878993
KES 129.320525
KGS 87.4205
KHR 4018.030059
KMF 419.000407
KPW 900.010907
KRW 1456.630427
KWD 0.30795
KYD 0.834759
KZT 463.893216
LAK 21982.446732
LBP 89702.650016
LKR 322.556205
LRD 183.81558
LSL 16.370136
LTL 2.95274
LVL 0.60489
LYD 6.336032
MAD 9.142505
MDL 17.234041
MGA 4159.536883
MKD 52.55597
MMK 2099.841446
MNT 3580.445259
MOP 8.079611
MRU 40.080024
MUR 46.720266
MVR 15.455036
MWK 1741.999816
MXN 17.309199
MYR 3.909794
MZN 63.902625
NAD 16.370095
NGN 1359.90979
NIO 36.704978
NOK 9.286615
NPR 151.073086
NZD 1.68241
OMR 0.384499
PAB 1.001694
PEN 3.457501
PGK 4.359596
PHP 60.849843
PKR 279.114204
PLN 3.607315
PYG 6130.874854
QAR 3.642981
RON 4.487498
RSD 100.07798
RUB 74.650223
RWF 1468.60767
SAR 3.775297
SBD 8.032258
SCR 13.91784
SDG 600.500135
SEK 9.25346
SGD 1.268103
SHP 0.746601
SLE 24.597294
SLL 20969.496166
SOS 571.503383
SRD 37.430964
STD 20697.981008
STN 20.857277
SVC 8.764716
SYP 110.548305
SZL 16.369767
THB 32.259764
TJS 9.360949
TMT 3.51
TND 2.869502
TOP 2.40776
TRY 45.324698
TTD 6.77614
TWD 31.413504
TZS 2599.010035
UAH 43.865066
UGX 3746.456572
UYU 40.052438
UZS 12138.314988
VES 496.20906
VND 26310
VUV 118.093701
WST 2.711513
XAF 558.427617
XAG 0.012755
XAU 0.000213
XCD 2.70255
XCG 1.805297
XDR 0.694505
XOF 558.399094
XPF 101.522929
YER 238.601107
ZAR 16.445801
ZMK 9001.198349
ZMW 19.082156
ZWL 321.999592
  • RBGPF

    0.0000

    63.18

    0%

  • CMSC

    -0.0400

    22.97

    -0.17%

  • RYCEF

    -0.0500

    17.45

    -0.29%

  • AZN

    -2.4000

    182.52

    -1.31%

  • BTI

    -1.4800

    58.08

    -2.55%

  • BP

    -0.8200

    43.81

    -1.87%

  • RIO

    -2.4000

    103.11

    -2.33%

  • NGG

    -1.9400

    85.91

    -2.26%

  • GSK

    -0.0300

    50.5

    -0.06%

  • BCE

    0.3400

    24.57

    +1.38%

  • RELX

    -1.5900

    34.16

    -4.65%

  • CMSD

    0.0000

    23.42

    0%

  • JRI

    -0.0200

    13.15

    -0.15%

  • VOD

    -0.4400

    15.69

    -2.8%

  • BCC

    -1.4800

    72.76

    -2.03%

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