A highlight from How we can curb climate change by spending two percent more on everything | Jens Burchardt

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Want to have you that. We can make a huge step forward in the great fight against climate change by just spending one to two percent more on things that we buy. What do you have to know. What's making is that. It's a humbling lee. Brutal process if this huge furnaces that tear apart and recombine elements and materials that have literally been around for millions of years at temperatures of up to more than two thousand degrees celsius. It's the triumph of industrialization but it's terrible for the climate more than five percent of all manmade emissions currently come from making steel and of all the many challenges we face to save the climate. This one's particularly hard to solve. Now why is that. The first reason is technical technologies to produce. Low comes here. We can for example capture this year to pump under the earth that's called carbon capture and storage or we can move to new processes that for example run on low carbon hydrogen instead of coal. But all of these are currently only at a piloting stage. The second reason is economical is likely going to be expensive and to illustrate that. That's compare the st trench to their of companies in other sectors. If you're in say manufacturing most of your emissions come from the poor you consume for things like conveyor belts robots drives and so on eliminating them switching to renewables. which isn't that expensive anymore most cases. This won't cost you more than ten euros. Per ton of co two probably a lot less other companies have more energy intensive processes that require of heat to operate they generate more missions burning fossil fuels directly. And it's more expensive to get rid of now. Let's assume across all of their processes. It costs them on average five times as much somewhere between forty and fifty euros per ton of co two noise. Steel company wants to move. Zero emissions either needs to invest significantly into upgrading. All of his current plants and into infrastructure. That transports you to from its plans to a storage site. Or he's close all its plants and bid entirely new ones that for example run on low carbon hydrogen according to industry studies. This can cost them ten times as much in the ballpark of one. Hundred zero dollars per ton of co two and the quest for a ton of steel could increase by as much as fifty percent that will make matters. Even worse or steel company operates in a commodity business. Almost exclusively competes on price and he is shitty margins already if means for him savings. Co two is expensive but it's profit per ton of co two is very law and this puts him in the uncomfortable company of only few other sectors. He's so-called habit sectors club those industries like semi and chemicals that if equally messy industrial processes and require very high temperatures to operate or evasion and shipping that need to invest a lot of energy to move very large and heavy objects over longer distances. Natural it sectors one of the ladder dilemmas of international climate action because discussions are decarbonization. Really go roughly like this where the activists says emissions are harming the planet and threatening humanity. You need to change immediately. And the company answers i know but if i invest in low carbon technologies the next guy doesn't really expensive and go out of business that won't have the climate so i i need a level playing field both understandable positions but bringing down emissions this kind of and the global level playing fields in which say all countries agree on mutual price for carbon emissions. Probably won't materialize anymore in my lifetime. So this is where the discussions usually reach a stalemate and where my talk with their for and what it india and been invited to hold it and already promised you that saving the planet does not have to break the bank but to steal which climate impact notwithstanding is one of the key building blocks in our economies in many many things from huge structures to everyday household items like refrigerators washing machines. We use it to wind turbines which we need to save emissions and the policy after and we use it to build our cars now in today's typical car sticking phone in many many different parts. You can assume that. Ever if european midsize sedan with thirty thousand euro price tick contents the boat one ton of it to produce steel in europe generates the bills less than two two tons of combinations in other countries like china. It's a bit more so let's run through to. We've learned earlier that moving to locate you can increase. Its costs by as much as fifty percent if

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