IPCC report – the need for technological solutions
Berlin, 10th August 2021
Yesterday, the Intergovernmental Panel on Climate Change (IPCC) released a new climate report, having analyzed over 14,000 scientific papers, approved by the delegations of 195 nations. The scientific community came to the conclusion that climate change is coming exactly in the shape and form we expected – only faster.
Some main findings
1,5° C will be reached 10 years earlier than expected
The average temperature will reach 1,5 °C by 2040 at the latest – 10 years earlier than predicted in 2018. This gives us less time to find solutions to mitigating climate change.
Extreme weather will be more likely and frequent
Extreme weather conditions, especially droughts and heatwaves, have increased since the 1950 and will do so in the future.
Natural carbon sinks begin to show signs of saturation
The amount of CO2 that natural carbon sinks can absorb is likely to decrease. Today, soils and oceans show signs of being able to absorb less CO2 than usual. This trend might continue in the future.
Earth is 1,1 °C hotter
So far, humans have caused the world to heat up by around 1,1 °C since the period 1850-1900.
Gigacorns instead of Unicorns
Investors shouldn’t only look for companies that are worth €1 bn, but can reduce 1 bn tons of CO2. It’s not only about economical viability anymore, but about the combination of economical and ecological value.
Geothermal energy use must be increased
The biggest problem to solve, by far, is energy production. Ultra Deep Geothermal (aka Hard Rock) energy can provide clean, unlimited energy 24/7 It is produced by drilling kilometers deep into earth’s surface. In high depths, the temperature can reach up to 400 °C allowing for economically very attractive supercritical geothermal energy.
Scale carbon capture & storage / utilization
We need technologies that can suck CO2 out of the atmosphere and store it permanently. The good news is: it already exists. The only challenge is the price. The solution: scaling. Scaling the technology quickly will make it possible to remove carbon from the atmosphere and store it underground for thousands of years. It can also be used for products, such as e-fuels, plastics and building materials.
Use alternative fuels
Hard-to-decarbonize sectors like aviation and shipping need e-fuels to limit petrol usage. The big advantage of e-fuels is that we can use them to power currently existing heavy-duty vehicles, like ships and planes. In a few decades, hydrogen will be powering planes, but until then, we need to decarbonize the planes still in the air.
At Extantia, we are working hard to put financial resources where they belong, to enable a net-zero future. But we can’t do it alone. There are thousands of great founders searching for funding for their climate-tech companies. Let’s give them the resources they need to unlock the potential of human ingenuity we so often pride ourselves with.