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"But prudent spending of economic stimulus measures, & a permanent adoption of new work behaviours, could influence how emissions evolve in future" (me)

Nice piece by @FogartyClimate
straitstimes.com/opinion/crisis…
"It could well bring forward the inevitable structural change that technology is driving anyway" @TimBuckleyIEEFA

"The long-term strategy should now be to build a green economy. Indeed, this is exactly the moment to seize the initiative." @KingsmillBond
"There is absolutely no doubt that when money dries up, climate change suffers. The overall effect is likely to be negative and further hinder the success to achieve the NDCs." @pepcanadell

This is a good reason to postpone #COP26 & give countries & year to get on their feet!
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Glen Peters
@Peters_Glen
@g_kallis @KHayhoe @ryankatzrosene I missed the IMF graph (where?). On the IMF, my colleague did a graph on how the IMF has constantly revised down GDP figures (the start of each line is the first estimate of GDP growth in the given year, each dot subsequent revisions (biannual).
folk.uio.no/roberan/t/GDP_…
@g_kallis @KHayhoe @ryankatzrosene With the GFC, there was a bounce back to trend (for CO2), but the lower growth since 2010 or so could be (partially) due to the lower GDP growth. I think IMF attributes the lower growth (previous figure) to the GFC. Other crises have had a loss of output (ref your other tweets)
@g_kallis @KHayhoe @ryankatzrosene In any case, this crisis is going to be somewhat different to others. It looks like a much harder hit & may have consequences which linger for many years (even if corona is under control by end 2020). There will be a rebound of sorts, but whether it gets us back on trend???
Read 4 tweets
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Glen Peters
@Peters_Glen
1. A #COVID19 drop in CO₂ emissions is “as if we went back in time & emitted the same amount we were a few years ago — which was already too much. In the grand scheme of things, it really makes no difference” @wang_seaver

uk.reuters.com/article/uk-hea…
2. “Even if there is a decline in emissions in 2020, let’s say 10% or 20%, it’s not negligible, it’s important, but from a climate point of view, it would be a small dent if emissions go back to pre-COVID-19 crisis levels in 2021,” @PFriedling
3. “I wouldn’t be shocked to see a 5% or more drop in carbon dioxide emissions this year, something not seen since the end of World War Two. Neither the fall of the Soviet Union nor the various oil ... crises ... have affected emissions the way this crisis is” Rob Jackson
Read 5 tweets
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Glen Peters
@Peters_Glen
THREAD: The role of politics when investing in a green transition.

Lessons from my $600m gamble on renewables: ‘I am poorer but wiser, yet my analysis 15 years ago was correct: climate change is the major challenge to humanity’

ft.com/content/f9ba8d…
2. "It is 15 years since I sold out of my interests in the oil industry and invested instead in renewables. For me, the energy transition has been personal — sometimes financially costly — but it’s a journey I am glad I have made."
3. "I decided to sell my oil-related businesses from 2001 to 2008 [employing ~5000 people] and invest the proceeds of $600m in renewables. My aim was, as a citizen, to help save the world. But, as a businessman, I also intended to make a profit."
Read 8 tweets

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