World Environment Day | Boiling summers, disappearing autumns: What are we doing on climate change?

In the past decade, the world has witnessed an extreme rise in temperature on an alarmingly regular basis. Summers are hotter than every, autumn and spring are disappearing, and the environment is changing rapidly. ‘Global warming’ is not just a term in science textbooks, but a daily warning for humanity. On this World Environment Day, let's ask the question: How can we survive the ravages of climate change?

Alarming data from 2016 - 2024

Between 2016 and 2019, global temperatures set new records. According to a NASA report, 2020 tied with 2016 as one of the warmest years, with 2021 and 2022 also experiencing near-record-breaking heat.

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The Intergovernmental Panel on Climate Change reported that the last decade has been the hottest in the past 125,000 years. The heat has also increased the CO2 levels exceeding 410 parts per million, which is a record-breaking number in a million years.

The rise in heat also impacted the seasons dramatically. Summers are longer than ever, and winters are shrinking like water bodies all across the world. This is affecting agriculture and biodiversity in the most vulnerable lands.

"There is a huge change in the climatic pattern. We don't get any autumn or spring... there are either winters or summers," said Kaustav Sanyal, Management Consultant - Accenture Strategy & Consulting.

The UN's World Meteorological Organization (WMO) said that 2022 saw devastating heatwaves across Europe, North America and Asia, exacerbating wildfires, droughts, and crop failures.

Making the heat bearable: Lessons from Gulf countries

Countries like the UAE, one of the hottest in the world, are aware of the warning climate is giving to them. Looking at the situation getting worse, the UAE launched multiple initiatives to deal with irreversible climate change.

In 2017, it launched the National Climate Change Plan to reduce carbon emissions by 70% by 2050. UAE invested aggressively in sustainable energy sources like solar parks to generate almost 5,000 MW by 2030.

The UAE has also used advanced technologies like cloud seeding to enhance rainfall and reverse the country's drought possibilities.

This has inspired multiple countries incluidng India.

'Heat is on' for India, but what is it doing to reduce carbon footprint?

India was a part of the 2019 climate summit held in Abu Dhabi.

A country with over 1.3 billion population, India has a different set of challenges related to climate.

India in the past decade has taken some crucial steps to reduce its carbon footprint.
The country has set an ambitious target of achieving 175 GW of renewable energy capacity by 2022, which was further expanded to 450 GW by 2030.

India's solar energy initiatives are particularly noteworthy.

The International Solar Alliance, launched by India and France, aims to mobilise $1 trillion in investments by 2030 to promote solar energy in 121 member countries.

In 2021, India announced its commitment to achieve net-zero emissions by 2070 and to reduce carbon intensity by 45% from 2005 levels by 2030.

"India is making strides in sustainability, particularly in renewable energy. Its ambitious targets include 500 GW of renewable energy capacity by 2030 and producing 5 million tonnes of green hydrogen by the same year. These initiatives aim to enhance energy security, improve public health, mitigate climate change impacts, and conserve natural resources," said Diya Bose, ESG and sustainability associate at Kuwait-based PKC Advisory.

Additionally, India is also actively promoting afforestation and reforestation programmes to enhance carbon sinks.

The Green India Mission aims to increase forest and tree cover, restore degraded ecosystems, and improve biodiversity.

Carbon footprint in offices: A hidden cost of industry

One of the biggest contributors to carbon emissions worldwide is corporate offices.

The energy consumed by office buildings for heating, cooling, lighting, and electronic devices accounts for a substantial portion of global CO2 emissions.

"Carbon footprinting measures a company's greenhouse gas emissions, aiding in understanding and reducing environmental impact. In India, 51% of the top 100 companies disclose emissions voluntarily, with 31% setting net-zero targets," noted Diya Bose of PKC Advisory.

Bose noted that SEBI - Securities and Exchange Board of India, India's stock market watchdog - mandates environmental reporting for the top 1,000 listed companies through BRSR or Business Responsibility and Sustainability Reporting, emphasising environmental responsibility.

"While not explicitly required, carbon footprinting serves as a crucial step toward environmental accountability," Bose noted.

Furthermore, corporate travel, particularly air travel, adds to the carbon footprint. The Carbon Disclosure Project (CDP) reported that the top 100 global corporations are responsible for approximately 71% of global industrial greenhouse gas emissions.

To mitigate their impact, many companies are adopting sustainable practices. These include implementing energy-efficient technologies, transitioning to renewable energy sources, and promoting remote work (if at all possible) to reduce travel emissions.

Multiple corporate companies have started hiring people who specifically work on sustainability and controlling carbon emissions.

Have you considered the consequences of not reducing carbon emissions?

If global warming and carbon emissions are not controlled, the consequences might be bigger than what we think.

Rising temperatures will lead to more frequent and severe heatwaves, storms, and flooding. Sea levels are projected to rise, threatening coastal cities and displacing millions of people. Agriculture will suffer due to altered precipitation patterns, leading to food shortages and increased hunger.

Biodiversity loss will accelerate, with many species unable to adapt to rapidly changing conditions including human beings.

The economic impact will be profound, with damages from extreme weather events and lost productivity costing trillions of dollars.

What are we doing to combat climate change?

Many countries are taking various precautions to combat climate change.

Countries like Denmark, Sri Lanka and South Africa are aiming to reduce carbon emissions to zero by 2050.

"In a balanced scenario where carbon emissions equal carbon removal efforts, carbon sources and sinks play crucial roles. Forests and plants are significant carbon sinks, followed by oceans. Additionally, concepts like carbon capture and utilisation (CCU) and carbon capture and storage (CCS) are essential for mitigating emissions," said Kaustav Sanyal of Accenture Strategy & Consulting.

The European Union is also committed to becoming climate-neutral by 2050 under the European Green Deal.

This includes reducing emissions by at least 55% by 2030 compared to 1990 levels.

China, as the largest CO2 producer, has pledged to peak its emissions before 2030 and achieve carbon neutrality by 2060.

The country is investing heavily in renewable energy and electric vehicles.

What does the future hold?

The world is undeniably boiling, and the severity of this crisis intensifies with each passing year. While many countries are making strides, the battle against climate change requires a unified, global effort.

"Sustainability is nothing new, but old wine served in a new bottle," Sanyal said.

The data from the past five years serves as a stark reminder of the urgency of our actions.

We must act now, collectively and decisively, to safeguard our planet for future generations.