My Daily Advertiser Op Ed column for this week
Just weasel words from COP28
The 28th meeting to deal with climate change was very much the 26th waste of time. This is because the meetings in Kyoto in 1997 and Paris in 2015 were not wastes of time. They only became so later, when many countries, including Australia, did not do what they said they would do.
Indeed, the COP28 agreement, though hailed as a breakthrough, wasn’t even an agreement, let alone a breakthrough.
The main issue with COP28 concerned how it would refer to the need to end the use of fossil fuels (oil, coal and gas). The wording of the final text that was painstakingly reached after extra time was an exercise in avoiding the elephant in the room, for it merely : “… calls on Parties to contribute to the following global efforts, in a nationally determined manner …”
Note that it didn’t say “phase out”, let alone ‘end’, as most of those involved had been arguing for. What it did say are just weasel words.
“The problem is not just the word “contribute” (as opposed to “do”). It’s not an agreement to contribute but an agreement to call on countries to contribute … “in a national determined manner”. That is, in whatever way you like,” wrote The New Daily.
The paragraph after the above phrase “calls on Parties to contribute to the following global efforts” says “(by) tripling renewable energy capacity globally and doubling the global average annual rate of energy efficiency improvements by 2030”, is also presented as a breakthrough.
But as noted British journalist George Monbiot said, “It doesn’t matter how many wind turbines you put up, it doesn’t matter how many solar panels you put up, unless you’re retiring fossil fuel infrastructure, unless you are legislating to leave coal oil and gas where it belongs, which is in geological strata, you are going to cook the planet.”
Australia has not legislated to leave coal and gas in the ground: in fact, it is approving new projects. We have legislated inadequate emissions-reduction targets that won’t be met.
Some will try and argue that’s alright because it doesn’t matter much what we do because it really only matters what the big polluters China, India, the US and Europe do, and whether Saudi Arabia and the other fossil fuel producers continue to lobby as successfully as they have been.
And like most other things in geopolitics, it will come down to what America and China do, but not in the way you might think. Indeed, China is positioning itself to control the supply of renewable energy and batteries when that time comes, and is succeeding. When the world is burning, China will be driving the fire engine.
The United States realised what’s going on a bit late and came up with the Inflation Reduction Act’s massive subsidies for renewable energy manufacture and electrification, but the problem is that the US is a democracy, and the Republicans want to cut spending, which means there is a limit on what the US can do. China has no limit. Americans seem ready to install Donald Trump as President again, in which case everything to do with climate change would get cancelled and China would have a more or less free run.
Meanwhile, in Australia economist Ross Garnaut and Rod Sims, the former chairman of the ACCC, have created something called the ‘Superpower Institute’, to help Australia seize what they call “the extraordinary economic opportunities of the post-carbon world”. Basically, they are trying to get Australia to do what China has already done.
Their enthusiasm is admirable, and I wish them all success in turning Australia into a ‘renewable energy superpower’, but I think the investment required to compete with China is way beyond both the resources and the inclination of the Albanese government, or indeed any Australian government.
It’s not beyond the resources of Australia’s $3.5 trillion superannuation system, but while they’re investing a lot in renewable energy, the government would need to entice or force them to get behind that project.
There’s no reason why we can’t turn all our sunshine into a globally significant industry, such as we did with the luck of having a lot of coal and gas. But that needs capital and long consistent focus, and it’s a race against others who are on steroids.