The annual global climate summit, known as COP, is less than two weeks away
View this email in your browser
[link removed]
[link removed]
Hi John,
The annual global climate summit, known as COP, is less than two weeks away. There is a lot of focus on whether the major climate polluter countries will up their commitments to get the world on track to avoid warming beyond 1.5C. Special Presidential Envoy for Climate John Kerry even describes the Glasgow summit as “the last best hope for the world
[link removed]
.” Whether you agree with Sec. Kerry’s assessment or not, the stakes are certainly high. This week we’re taking a look at COP26, the technologies and policies being considered there and Third Way’s involvement in the convening.
1. NINE DAYS AND COUNTING
Third Way will be at the summit hosting or participating in multiple events and side meetings with US, European, and UK officials and business leaders. There has been a lot of speculation on how the machinations of Congress will impact other countries’ perception of the US and Biden Administration at COP. Our take is that punditry misses a bigger point: this is the first time since 2016 that the US government is fully committed to serious action to reduce climate pollution and rally the world to get to net-zero.
We’ve heard directly from officials of several foreign governments that this absence of US leadership has been very damaging to coordinated climate action. We’re not likely to get all of the commitments that are necessary to keep to 1.5C from this summit. What we are likely to see, however, is a new and serious realism focusing on every solution that could be helpful and steps that will accelerate action, such as annual revisions to Nationally Determined Contributions. Compared to what we’ve had, this will be significant, and shouldn’t be understated.
2. DECARB AMERICA INNOVATION BREAKTHROUGHS
This week, we released the third installment of the Decarb America Research Initiative
[link removed]
, a joint research project between Third Way, Bipartisan Policy Center, and Clean Air Task Force. Our latest report models innovation breakthroughs in emerging energy technologies and demonstrates why clean energy innovation is essential to our net-zero future. You can read Axios’ coverage here
[link removed]
, and the full report here
[link removed]
.
The main takeaways from Decarb’s newest research:
Investing in clean energy innovation for emerging technologies like advanced nuclear and carbon capture significantly reduces the price of decarbonization
Innovation breakthroughs could save us up to $250 billion per year off the cost of decarbonization by 2050
A breakthrough in any one of the three technologies modeled would still save us billions of dollars
In the past, COP has placed a heavy emphasis on renewable sources, but our research shows that technological breakthroughs in emerging energy technologies like carbon capture, advanced nuclear, and hydrogen are similarly necessary to drive down the cost of reaching net-zero emissions and potentially accelerate the decarbonization process.
3. IAEA: WE NEED NUCLEAR TO MEET OUR PARIS COMMITMENTS
Earlier this week, the International Atomic Energy Agency released a special report
[link removed]
highlighting nuclear power’s essential role in meeting the commitments set forth in the Paris Agreement. In addition to making the case as to why nuclear should be included in climate and energy discussions, nine countries—Canada, China, the US, France, Japan, Poland, Russia, Finland, and the UK—provided statements in the report to support its findings.
The report outlines how nuclear power is an effective investment to both reduce carbon emissions and drive economic growth across multiple sectors. Main takeaways:
Because it is reliable and dispatchable, nuclear power serves as a fantastic complement to renewables. It can bolster a net-zero grid while lowering the overall cost of electricity generation.
Nuclear can substitute for fossil fuels in heavy industries like steel, cement and chemical production, and shipping and transport, which together produce about 60% of energy related global emissions. Nuclear can provide low-carbon heat, and it can also be used in hydrogen production, which can also substitute for fossil power in heavy industries.
As the economy rebounds from COVID-19, nuclear power can provide significant economic benefits across multiple sectors of the economy, creating new specialized industries and driving job creation around the world.
We’ve seen expanded global commitments to nuclear energy ahead of COPP 26, President Emmanuel Macron pledged to invest $1.1 billion
[link removed]
in nuclear power by 2030 in an effort to expand France’s carbon-free power production
[link removed]
and bolster France’s hydrogen and clean energy capacity. France also led a bloc of 10 EU countries
[link removed]
urging the EU to count nuclear as a key low-carbon energy source.
Additionally, in the UK, which is experiencing a severe wind energy drought
[link removed]
, Prime Minister Boris Johnson pledged to expand the UK’s use of nuclear energy
[link removed]
in order to reach 100% clean electricity in the UK by 2035, and he’s committed to building 16 new small modular reactors or advanced modular reactors by 2035
[link removed]
.
4. WHAT WE’RE READING
In their new memo
[link removed]
, Third Way Executive Vice Presidents Matt Bennett and Jim Kessler warn of electoral failure in 2022 should Democrats fail to come together to pass President Biden’s Build Back Better Agenda. Kessler and Bennett stipulate that Democrats must put aside inter-party differences and deliver on bold investments for the American people if they want voters to look favorably upon Democrats at the ballot box in 2022. Read POLITICO’s coverage here
[link removed]
.
Matthew Yglesias tackles
[link removed]
the online discourse surrounding nuclear energy, dismissing the “nuke bro” archetype to explain why we mustn’t bicker on the Internet over the versatility of solar and storage technologies vs. nuclear but rather take advantage of the tremendous benefits that all low- and zero-carbon technologies have to offer.
The National Wildlife Federation and United Steelworkers penned an op-ed
[link removed]
explaining why incentivizing carbon capture can boost American manufacturing while cutting carbon emissions and helping us transition to a net-zero economy.
Let’s keep the conversation going,
Carly Berke
Climate and Energy Press Coordinator | Third Way
818.422.2759 :: @ThirdWayEnergy
[link removed]
Jared DeWese
Senior Communications Advisor | Third Way
202.427.3709 :: @jareddewese
[link removed]
Mary Sagatelova
Communications and Content Advisor | Third Way
216.394.7615 :: @MarySagatelova
[link removed]
Did someone forward you this email? Sign up to receive The Grid in your inbox HERE
[link removed]
.
Copyright © 2021 Third Way. All rights reserved.
Want to change how you receive these emails? You can update your preferences.
[link removed]
