(Yicai) July 22 -- Humanity stands at a climate crossroads. The global mean temperature from February 2023 to January 2024 was the highest ever: 1.52°C above the 1850-1900 period, per the Copernicus Climate Change Service. The 1.5°C threshold agreed at the Paris COP21 has probably already been reached, while Greenhouse Gas emissions keep growing every year. 

One major means of averting disastrous, irreversible global warming is increasing use of carbon-free energy sources. China’s International Finance Forum (IFF), the European Task Force on Carbon Pricing, and the US-based Paulson Institute will explore the current state of production of renewables and nuclear energy - the two most promising sources, and whose production can rise at the right pace - ways to foster their development, and obstacles to this, with a focus on the price of carbon, at an online event held on July 23. 

Each energy source will have its own dedicated session at this forum conducted via Zoom, starting with renewables. The global responsibility of the three main economic blocs (the United States, China, and Europe), acting in concert, if possible, will also come under the spotlight. 

Opening remarks will be delivered by: Zhu Xian, IFF Executive Vice President, and Former Vice President of the World Bank; Deborah Lehr, Vice Chairman and Executive Director of the Paulson Institute; and Edmond Alphandéry, Chairman of the Task Force on Carbon Pricing in Europe.

The first session on renewables will address their major successes in some countries, most notably China, then cite the obstacles to their development, such as, e.g., in Europe, where many firms have scaled back projects due to low electricity prices and high interest rates. The price of carbon holds part of the solution here. 

The second session on nuclear power will discuss its growing momentum in the world. In Dubai, more than 20 countries, among them the US, the UK and France, agreed to try to triple global nuclear power capacity by 2050. The importance of nuclear to fight global warming must not be underestimated, and the major hurdles in its development must be overcome. This session will highlight the price of carbon as an important catalyst to the return of nuclear energy.

This online event will take place on Tuesday July 23, 2024 at 2:00 - 5:00 pm (Paris time), 8:00 - 11:00 pm (China time), and 08:00 - 11:00 am (US EST time). Learn more via: https://www.bagevent.com/event/8882530