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Why we need a Carbon Productivity revolution For more than 200 years, the principle way humans have generated value from carbon has been by digging fossil fuels out of the ground and burning them for energy. This process releases CO2 and other ‘waste gases’ into the atmosphere, causing global warming. Global temperatures have already increased by approximately 1°C since the start of the Industrial Revolution — and far from slowing down, the pace of warming has actually accelerated in recent decades.20 This economic model has now run out of road. To limit global warming to 2°C — the upper threshold set by the Paris Agreement — our remaining ‘budget’ of CO2 emissions is roughly 700 gigatons. To meet the more ambitious goal of limiting global warming to 1.5°C, our remaining budget is roughly zero.21 This means we face an imperative to cut global CO2 emissions to zero very rapidly — leaving much of the world’s known fossil fuel reserves unburned. Importantly, we must also remove significant quantities of carbon from the atmosphere and sequester it in biological and/or technological sinks. The Intergovernmental Panel on Climate Change’s (IPCC) fifth assessment report identified 116 pathways to stabilise global temperatures at or below 2°C above pre-industrial levels. Of these, all but 15 require significant removal of atmospheric CO2; the remaining 15 are based on global emissions peaking in 2010, which they didn’t.22 Figure 4: Interface’s breakdown of “Climate Take Back” Source: Slide presentation by Erin Meezan, CSO, Interface at the 2017 Carbon Productivity Basecamp23 20 https://earthobservatory.nasa.gov/Features/WorldOfChange/decadaltemp.php 21 The Mercator Research Institute on Global Commons and Climate Change provides three estimates (upper, medium and lower) of our remaining carbon budget for both 2°C and 1.5°C. The figures quoted in this paper are the medium estimate. https://www.mcc-berlin.net/en/research/co2-budget.html 22 ‘UK launches ‘world first’ research programme into negative emissions’, https://bit.ly/2p2v6Jo 23 http://carbonproductivity.com/basecamp-event/ 10PDF Image | Our Carbon Future White Paper
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