Penn Fed, Elise Hugh, James Melange discussed on TED Talks Daily
You're listening to ted-talks daily, I'm Elise Hugh. Our lives depend on curbing climate change, but so many imperatives seem to be in competition. What is the most urgent thing we can do right now? Strategist and social entrepreneur James melange makes the case for what he thinks is the answer. In his talk from Ted countdown, New York session, 2022. Hey, ted-talks daily listeners. I'm Adam grant. I host another podcast from the Ted audio collected. It's called work life, and it's about the science making work, not suck. Next time you want to ask, what do people care about here? What do people get really rewarded for or if they violate these norms or behaviors? What do they get really punished for? How to recognize the company's culture from the outside and strengthen it from the inside. Find work life on Apple podcasts, Spotify, or wherever you listen. Support comes from Penn fed credit union, offering great rates on financial products for those who are in the military and those who are not. Discover loans and credit cards for budget flexibility, checking accounts to manage day to today expenses without any hassle, and savings accounts to plan for the future. It's easy to join, more at Penn fed, dot org, to receive any advertised product you must become a member of Penn fed, federally insured by NC UA. I'm Stephanie kelton, an economist and a co host of the MarketWatch podcast the best new ideas and money. Money is an idea, we just made it up, and since we made it up, we can change it. We can upgrade its operating system to make it fairer, faster, and more efficient. Each week, we explore one idea with the potential to rethink the way we live, work, spend, save, and invest. Subscribe to the best new ideas and money wherever you listen to podcasts. Welcome to the Gates of hell. Yeah. Depending on your frame of mind, that is either an bizarrely morbid or entirely appropriate way to start a talk about climate action in the year 2022. Health, gate national park. In the town of naivasha, in the great river valley, in my home country, Kenya. Now, its name may not scream tourist trap, but believe me it is a beautiful part of the world and you should all try and visit sometime. For more importantly, it could play it has the potential to play a crucial role in the fight against global climate catastrophe. The IPCC, the most recent IPCC reports are clear. Humanity has left cutting emissions too late. Any realistic path to avoiding unacceptable levels of warming now requires us to not only drastically cut emissions at least having them by 2030, but also undertake an equally massive effort to remove greenhouse gases from the atmosphere at an accelerating rate. Now, let's be clear, greenhouse gas removal is not and can not be an excuse for continuing to emit just as installing seat belts and airbags is not an excuse for deliberately ramming your car into a wall. Indeed, current estimates suggest that even with drastic emissions reductions, the world will need to be removing between 5 and 16 billion tons of carbon dioxide from the atmosphere every single year by 2050. Now to give you a sense of the scale of that, the low end of that range, 5 billion tons, that's bigger than the size of the global petroleum industry in 2020. So let's not kid ourselves that carbon removal at anywhere close to the scale that we will need in order to survive is some sort of easy way out. It is going to be damn difficult to do. So how do we do it? Well, the first and most familiar measures will be interventions such as reforestation and landscape restoration. Essentially giving mother nature the time and space to heal herself. In addition, we can increase the amount of carbon held in our soils to the widespread application of biochar and enhanced weathering of chemically suitable rocks. We estimate that in Africa alone, something like a 100 million to 680 million additional tons of carbon dioxide could be drawn from the atmosphere using these types of methods. However, they do require a lot of land, a lot of water and a lot of other natural resources that may limit the extent to which we can scale them. Moreover, they are subject to some of the feedback loops from the climate change that we are already experiencing, such as more frequent and intense wildfires. And all of that means we are going to need to supplement them with technologies that accelerate and amplify natural processes to remove carbon dioxide from the atmosphere. Enter the members of my new favorite boy band. Dak, becks, and bikers. These are a set of engineered approaches that use physical chemical and biological processes to gather and concentrate carbon dioxide from the atmosphere before safely sequestering it. Usually underground. As more people run the climate math, you're seeing growing levels of interest and investment in these technologies. With billions of dollars already being committed to early pilots and installations in various parts of the world, particularly in Europe and North America. But the reality is they have a very long way to go. To date, engineered removals around the world have accounted for something like a 100,000 tons of carbon dioxide removed. Total. To get to the multi-billion billion ton scale, we're going to need by 2050 is going to take a truly epic process of exponential scaling. Probably means we need to get to something. If we want to have a realistic shot at it, we need to get to something like a 100 million tons per year by 2030. For those of you running the calculators, that's a thousandfold increase in less than a decade. And guess what? We will have to continue that insane rate of growth for another two decades after that. And here's the really bad news. Anything close to that level of scaling of this industry in the places where it's currently being piloted presents some really difficult climate action tradeoffs. For that, let me take the example of dak.