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Speaker 1: What temperatures of the summer show is that we are

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Speaker 1: losing the fight against climate change, and not only that,

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Speaker 1: we are choosing to lose the fight against climate change

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Speaker 1: because we are not embracing the things that we know

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Speaker 1: will reduce emissions and ultimately reduce temperatures.

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Speaker 2: You might say, the devastating heat that's crippling so much

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Speaker 2: of the globe right now is climate change once again

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Speaker 2: screaming at us at the top of its lungs. And

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Speaker 2: it's not just scorching temperatures, but floods, wildfires, and hurricanes

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Speaker 2: all happening with alarming frequency. Bloomberg's John Ainger, Eric Rostin,

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Speaker 2: and Zara Hirjee report on why extreme events like this

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Speaker 2: are intensifying. They say it's not a phase of crazy weather.

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Speaker 2: It's the start of a new normal that will only

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Speaker 2: become more dire and destructive the longer we insist on

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Speaker 2: clinging to fossil fuels.

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Speaker 3: This year, the heat index at sixty six point seven

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Speaker 3: c or one hundred and fifty two degrees fahrenheit. That

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Speaker 3: is just too hot for humans to really survive on

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Speaker 3: a regular basis.

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Speaker 4: Poor countries, which have contributed the least to the problems

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Speaker 4: that are causing climate change. They're the ones that have

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Speaker 4: been dealing with the kind of impacts that we've been

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Speaker 4: seeing in developed countries over the last couple of years,

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Speaker 4: when many many years now.

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Speaker 2: But hold on, this isn't just another sky is falling

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Speaker 2: conversation about global warming. There's some good news to be

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Speaker 2: found here because rapid advances in technology not available only

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Speaker 2: a few years ago means the warming of the world

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Speaker 2: can be slowed if we decide to do it.

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Speaker 1: And that's what makes this the greatest story in the world.

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Speaker 1: Like the stakes could not be higher. We have most

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Speaker 1: of the solutions we need, many people are actively deploying them.

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Speaker 1: So every day is just this incredible race against time

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Speaker 1: to see if we can place dirty machines with clean machines.

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Speaker 2: I'm West Kasova today on the Big Take, How to

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Speaker 2: Beat the Heat.

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Speaker 3: Eric.

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Speaker 2: If you're not living in a part of the world

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Speaker 2: right now that isn't really hot, you're certainly hearing about it.

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Speaker 2: The heat is just about anyone is talking about this summer.

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Speaker 2: Can you paint us a picture of why it's different

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Speaker 2: this year? Because I mean, it's July, it's warm.

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Speaker 1: It's supposed to be hot in July, and as promised,

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Speaker 1: it is. It's useful to think about climate change as

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Speaker 1: the long term trend and weather as a fluctuation from

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Speaker 1: year to year. Weather changes every year, climate change doesn't

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Speaker 1: really change every year. There is an important distinction between

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Speaker 1: climate and weather. Climate is the long, often thirty year

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Speaker 1: trend in a region or the world that scientists used

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Speaker 1: to sort of average all the weather. It's the boundary

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Speaker 1: of the weather. So what's happening this year is something

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Speaker 1: called an El Nino in the Pacific, and when the

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Speaker 1: eastern part of the tropical Pacific heats up, it just

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Speaker 1: blows heat into the atmosphere, changes weather in many different

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Speaker 1: parts of the world in many different ways, and it

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Speaker 1: raises global temperatures. So anytime there's an Alnino year, you're

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Speaker 1: probably going to get a heat record because it's coming

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Speaker 1: on top of climate change.

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Speaker 2: Zara, we have El Nino, we have summertime heat that

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Speaker 2: all comes together to make things hotter.

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Speaker 5: But that's not really the whole story, is it.

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Speaker 3: I've been talking with a lot of researchers about what

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Speaker 3: is actually happening this summer, and the al Nino is

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Speaker 3: certainly playing a role. But this is also just started.

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Speaker 3: Like the al Nino was only officially declared in June,

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Speaker 3: and it's expected to ramp up as the summer and

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Speaker 3: as the fall in the year progresses.

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Speaker 6: We ended up having the hottest June on.

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Speaker 3: Record kind of globally when you look at global average temperatures,

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Speaker 3: a little bit of that with them, a lot of

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Speaker 3: that was climate change. And then we had the hottest

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Speaker 3: July on record, and now we're anticipated to have hot

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Speaker 3: August and we'll see how that plays out, but we're

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Speaker 3: on track for the hottest year on record.

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Speaker 2: John, in the story, you write about how scientists are

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Speaker 2: really closely tracking this difference between al nino and climate change.

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Speaker 5: How do they do that and what are they finding?

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Speaker 4: Yep, So we spoke to many scientists during the process

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Speaker 4: of writing this story. We spoke to Climate Action Tracker.

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Speaker 4: Now they analyze all the different pledges by countries around

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Speaker 4: the world, So the US, the EU, China as part

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Speaker 4: of their global commitments to try and keep global warming

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Speaker 4: to below one point five degrees. Now that's the one

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Speaker 4: point five degrees is the political target that was agreed

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Speaker 4: at the Powis Agreement in twenty fifteen, and all our

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Speaker 4: actions are basically.

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Speaker 7: Judged off that barometer.

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Speaker 4: So now climate action trackers looking at how we're going

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Speaker 4: towards those targets, and currently puts us on course for

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Speaker 4: around two point seven degrees of global warming. By comparison,

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Speaker 4: where we're at currently is one point two degrees of

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Speaker 4: global warming. And we're already seeing these kind of really

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Speaker 4: extreme weather events taking place across the world. And just

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Speaker 4: to give you a flavor from Europe as well, recently

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Speaker 4: in Greece, we had one hundred and forty six different

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Speaker 4: forest fires across the Greek islands. You saw almost apocalyptic

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Speaker 4: scenes of tourists and people working in the tourism industry

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Speaker 4: having to evacuate from these islands. And that's not just

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Speaker 4: alone in Greece. I mean we've seen record breaking temperatures

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Speaker 4: in Sardinia and outside.

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Speaker 7: Of Europe of course as well.

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Speaker 4: We highlight in the story in China they're also seeing

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Speaker 4: temperatures above fifty degrees. Right now, this is what global

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Speaker 4: warming at one point two degrees looks like. And if

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Speaker 4: we're heading to two point seven, the fear is among

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Speaker 4: scientists that these kind of extreme weather events are going

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Speaker 4: to get much much worse and more regular.

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Speaker 2: So the goal has been to try to contain the

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Speaker 2: rise in global temperatures to one point five degrees celsius.

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Speaker 2: What you're saying is that what we're seeing is two

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Speaker 2: point seven is what we're going to hit. Has the

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Speaker 2: goal just been entirely abandoned?

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Speaker 1: Now, whether we've abandoned a fight or whether we never

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Speaker 1: embraced it is a matter of opinion. It'd be hard,

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Speaker 1: given the political culture in many democracies, to acknowledge something

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Speaker 1: that has been scientifically in different ways going back to

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Speaker 1: the fifties, right, which is that fossil fuel emissions warm

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Speaker 1: the atmosphere, and so as we see year after year,

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Speaker 1: temperatures creep, higher, storms become stronger, coastlines increasingly challenged. It's

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Speaker 1: just a simple fact that as long as we're still

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Speaker 1: burning fossil fuels and letting the emissions go into the air,

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Speaker 1: climate change is always going to be in its opening act.

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Speaker 3: Reminding you that we are at one point two degrees

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Speaker 3: of warming now. We are not guaranteed to get to

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Speaker 3: two point seven. That's just the track that our world

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Speaker 3: is on based on the policies that are in place.

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Speaker 3: If you actually look at kind of the goals that

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Speaker 3: people have set. We are potentially on a lower track,

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Speaker 3: but you have to assume that people are actually going

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Speaker 3: to meet the various bold goals that they've made.

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Speaker 6: Humans are controlling this.

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Speaker 3: We're in the driver's seat, and so we can make

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Speaker 3: changes over the next couple of years and decades to prevent,

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Speaker 3: hopefully the two point seven. That's just where we're headed

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Speaker 3: right now.

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Speaker 5: John.

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Speaker 2: Not so long ago, there was a lot of optimism

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Speaker 2: around the Paris Treaty, which you mentioned that a lot

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Speaker 2: of countries were going to embrace less fossil fuel use

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Speaker 2: and other ways of reducing climate change.

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Speaker 5: What happened?

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Speaker 2: Why are we seeing this acceleration now despite big efforts

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Speaker 2: by a lot of countries.

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Speaker 4: Well, I think, just to make clip to start with,

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Speaker 4: I mean, progress is already being made. Right Since twenty fifteen,

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Speaker 4: since the Paris Agreement, around eight billion metric tons of

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Speaker 4: CO two that would have gone into the atmosphere hasn't

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Speaker 4: and that's as a result of things like scaling up renewables, massively,

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Speaker 4: electric cars, even changing some of the things we do

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Speaker 4: in our day to day lives. So there has been

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Speaker 4: progress there. The problem is we still haven't turned the tide.

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Speaker 4: Emissions are still rising, and really we need emissions to

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Speaker 4: fall by forty five percent this decade, so when emissions

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Speaker 4: are still rising, the windows really getting a lot smaller

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Speaker 4: in order to do that. I mean to be clear,

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Speaker 4: we're not going to get this done in the summertime.

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Speaker 4: It's likely to take a generation. But we have done

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Speaker 4: this kind of thing before through the scaling up of renewables,

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Speaker 4: through boosting electric vehicles on our roads, and that is

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Speaker 4: really what's going to have to be accelerated as we

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Speaker 4: move forward this decade.

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Speaker 2: Zarah, especially for Americans since we're the last country on

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Speaker 2: Earth that refuses to use the metric system. When you

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Speaker 2: hear something like two point seven two point nine degrees celsius,

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Speaker 2: it doesn't sound like that much, but actually talking about

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Speaker 2: very large leaps.

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Speaker 3: Yeah, So with the warming that we've had, we often

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Speaker 3: talk about how we've risen in temperatures one point two

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Speaker 3: degrees see compared to pre industrial times. That translates to

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Speaker 3: closer to a little over two degrees fahrenheit. When we're

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Speaker 3: talking about two point seven degrees, you're right, that's closer

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Speaker 3: to four or five.

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Speaker 6: Degrees fahrenheit and heating.

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Speaker 3: But I think the other thing to remember is that's

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Speaker 3: just the global average or the global mean. It actually

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Speaker 3: also means that you're getting a lot less cold days

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Speaker 3: and you're getting.

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Speaker 6: A lot more very hot days.

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Speaker 3: And one great example of this is what's been playing

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Speaker 3: out in Phoenix, Arizona, where the entire month of July,

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Speaker 3: all of July, they had hit one hundred and ten

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Speaker 3: degrees fahrenheit for every single day. That is what we're

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Speaker 3: talking about when we say that you're starting to get

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Speaker 3: extreme heat more frequently and more intensely, and that's only

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Speaker 3: going to grow as the temperatures continue to rise.

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Speaker 1: The last nine years are the hot end years in

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Speaker 1: the one hundred and eighty year record. Twenty two of

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Speaker 1: the hottest twenty three years in the record have occurred

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Speaker 1: in this century. In every decade has been hotter than

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Speaker 1: the prior decade since the nineteen sixties.

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Speaker 3: I will also add, like right now, one of the

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Speaker 3: things that's been playing out all summer has been the

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Speaker 3: temperatures in the Atlantic Ocean are extremely hot. And we're

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Speaker 3: specifically talking about how the temperatures off the coast of

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Speaker 3: Florida have hit ninety five and then also up to

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Speaker 3: at least one hundred and one degrees fahrenheit. So that's

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Speaker 3: literally the temperatures that fishes and corals, or if you're

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Speaker 3: going snorkeling, you are going to feel. People have described

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Speaker 3: that as the bathtub type temperatures to me, very uncomfortable,

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Speaker 3: very hot.

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Speaker 6: Normally, this is water that.

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Speaker 3: Would be in maybe the high eighties to low nineties,

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Speaker 3: So we're talking ten degrees fahrenheit above what's usually seen there.

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Speaker 5: And can fish living water that hot?

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Speaker 4: John No, I think over thirty degrees celsius, which is

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Speaker 4: around eighty six degrees fahrenheit. That's when you start to

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Speaker 4: get coral bleaching. And coral bleaching is this phenomena which

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Speaker 4: is a very visual phenomena. You know that coral is

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Speaker 4: full of vibrant colors, purples, reds, oranges, greens. It's when

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Speaker 4: those colors completely leave and you're left with this dull

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Speaker 4: white color on the coral, which is basically a sign

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Speaker 4: that the coral is dying. And as that takes place,

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Speaker 4: we're already seeing huge bleaching events taking place off the

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Speaker 4: coast of Queensland in Australia, the Great Barriery for example,

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Speaker 4: and in other places too, you're seeing real undermining of

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Speaker 4: some crucial ecosystems globally.

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Speaker 2: When we come back, climate change hit some countries harder

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Speaker 2: than others. Eric Zara mentioned some of the things that

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Speaker 2: happens when you start to see rising temperatures across the globe.

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Speaker 2: And it's not just heat that global warming causes. There's

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Speaker 2: a lot of other kinds of people that you write about.

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Speaker 1: When oceans are as hot as they are today and

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Speaker 1: they're only going to get hotter if we don't change

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Speaker 1: our ways, that produces much more intense cyclones different countries.

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Speaker 1: Low lying countries, often poor countries are most vulnerable to

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Speaker 1: those kinds of storms. It's almost hard to just make

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Speaker 1: a list of the things we're expecting. Yes, there'll be

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Speaker 1: more drought, Yes there's more wildfires. And we've built bridges

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Speaker 1: and roads and shipping lanes and airports with the understanding

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Speaker 1: that certain things never change. Those things are changing.

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Speaker 5: So what are some examples of that.

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Speaker 1: Tarmac on airport runways melts. Places flood that have never

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Speaker 1: flooded before because sea levels rising. Miami frequently gets flooding

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Speaker 1: when there's no rain because the ground is just kind

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Speaker 1: of porous and so ocean which is rising just kind

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Speaker 1: of seeps in and then seeps up. One study from

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Speaker 1: a couple of years ago found that by two point

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Speaker 1: five degrees of warming, New York City could face three

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Speaker 1: once in a century floods every year.

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Speaker 3: Some other examples we've seen play out this summer is

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Speaker 3: there was this intense flooding event in Vermont, and one

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Speaker 3: of our colleagues had done this great story about how

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Speaker 3: parts of Vermont were hit by this intense Hurricane Irene

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Speaker 3: about a decade ago, and then the state spent a

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Speaker 3: lot of money really trying to prepare itself because it

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Speaker 3: knew that inland flooding, even just not on the coast,

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Speaker 3: could be very damaging. Even still, there were major cities

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Speaker 3: across the state that experienced really just like record levels

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Speaker 3: of flooding and damage to really show that our preparedness

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Speaker 3: isn't enough. Other things that we see with heat, train

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Speaker 3: tracks buckling, you can get cracks in roads, You start

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Speaker 3: to see crop failures. So in Europe we've been hearing

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Speaker 3: about how some of the fruit and vegetable crop has

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Speaker 3: been suffering. I know there was one agricultural group that

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Speaker 3: mentioned that cows actually produce less milk when it gets

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Speaker 3: really hot. There are just a cascade effects that impact

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Speaker 3: everything from industrial processes. So if you have nuclear power

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Speaker 3: plants that are situated on water, if the water gets

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Speaker 3: too hot for them to use for cooling, they have

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Speaker 3: to reduce or even shut down. That's been playing out

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Speaker 3: in France and other parts of the world. Also, when

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Speaker 3: the temperatures get too hot in the water, you can

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Speaker 3: have jellyfish blooms, and then that blocks the water that's

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Speaker 3: used for all sorts of industrial processes.

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Speaker 2: John One thing that Eric mentioned is that horror countries

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Speaker 2: often suffer more from the effects of climate change than

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Speaker 2: richer countries, and you write about that quite a lot

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Speaker 2: in this story.

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Speaker 4: Yes, exactly whichever way you splice climate change its inequality. Obviously,

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Speaker 4: poorer countries which have contributed the least to the problems

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Speaker 4: that are causing climate change, they're the ones that have

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Speaker 4: been dealing with the kind of impacts that we've been

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Speaker 4: seeing in developed countries over the last couple of years.

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Speaker 4: They've been seeing that for many, many years now. Those

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Speaker 4: kind of things can be ranging from desertification, which has

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Speaker 4: a whole host of knock on effects when it comes

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Speaker 4: to food prices. Desertification is basically where fertile arable land

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Speaker 4: that's used to grow crops becomes increasingly dry, increasingly arid,

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Speaker 4: and that soil starts to blow away in the wind

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Speaker 4: and turns into desert basically, so it becomes no longer

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Speaker 4: fit to harvest crops that are vital in so many

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Speaker 4: parts of the world. We're seeing that at its most

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Speaker 4: extreme in sar Hell, that band of green across the

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Speaker 4: top third of northern Africa, and that's where the problem

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Speaker 4: is really taking place most dramatically. But then you're also

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Speaker 4: seeing that in a three degree world, for example, forty

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Speaker 4: percent of people in developed countries will be inoculated against

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Speaker 4: those impacts. That's what developing countries are already feeling now,

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Speaker 4: and we're not even at one point five degrees. So

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Speaker 4: this is really a problem of inequality and that underpins

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Speaker 4: many of the international climate negotiations that take place around

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Speaker 4: the world.

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Speaker 2: John, Why is it that richer countries are inoculated whereas

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Speaker 2: poorer countries don't. I mean, if it's hot.

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Speaker 5: It's hot.

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Speaker 4: Well, obviously money is what comes into play. Most of all,

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Speaker 4: the cost of finance is way way cheaper in richer countries.

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Speaker 4: That helps from everything to mitigation. Mitigation is the building

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Speaker 4: of new solar farms, new wind facilities that help to

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Speaker 4: actively lower emissions, but also adaptation. Adaptation is much more

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Speaker 4: difficult to finance, especially from the private sector. But that's

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Speaker 4: things like sea walls, that's things like growing trees in

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Speaker 4: cities which can help cool the temperature of cities down.

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Speaker 4: That's things like air conditioning as well, which can really

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Speaker 4: help lower the temperatures that people face on a day

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Speaker 4: to day basis.

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Speaker 2: Of the countries that are really seeing the biggest effects

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Speaker 2: of this inequality, so.

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Speaker 3: It sort of depends on what the extreme is that

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Speaker 3: we're talking about. If we're talking about rising sea levels,

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Speaker 3: it's island nations that are the ones that are really

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Speaker 3: in the danger zone. As you know, even just getting

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Speaker 3: to one point five degrees of warming could mean a

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Speaker 3: matter of additional feet of extra sea level rise, and

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Speaker 3: so that's why you'll often hear from countries like Barbados

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Speaker 3: or Trinidad or others along the Caribbean at these annual

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Speaker 3: meetings saying one point five degrees is a death sentence

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Speaker 3: for us, because they could see much of their islands,

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Speaker 3: the places where they live inundated with water. Looking at

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Speaker 3: places like Pakistan, which last year had already experienced just

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Speaker 3: absolutely extreme and devastating floods and then having to see

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Speaker 3: those potentially year over year.

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Speaker 2: Eric At some point, do places that are just really

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Speaker 2: hot now simply become uninhabitable? Are we going to start

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Speaker 2: to see places that were just people that are no

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Speaker 2: longer able to live.

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Speaker 1: We already see it Southern Louisiana, for example, parts of Alaska,

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Speaker 1: the low lying islands that Zara mentioned, Many millions of

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Speaker 1: people are no longer going to be able to live

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Speaker 1: where they're living in coming years and decades, and they're

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Speaker 1: going to go somewhere, and we don't know where.

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Speaker 5: John.

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Speaker 2: This question of inequality, how climate change hits countries differently,

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Speaker 2: has become a big source of discussion and kind of

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Speaker 2: tension among nations in global discussions about climate change.

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Speaker 4: So for the last two years I've been at the

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Speaker 4: U and COP summits. That's Conference of the Parties, and

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Speaker 4: those are where countries one hundred and ninety six countries

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Speaker 4: from around the world get together to try and thrash

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Speaker 4: out climate progress. And a key part of that is

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Speaker 4: the mitigation, which is the cutting of emissions. But the

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Speaker 4: main kind of thing that poorer countries have been pushing

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Speaker 4: for is more finance to help them deal with the

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Speaker 4: impacts of climate change.

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Speaker 2: After the break, how we can start to turn things around.

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Speaker 3: The airline industry announced a goal of net zero airline

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Speaker 3: emissions by twenty fifty.

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Speaker 6: PEPSI pledges to be net zero by twenty forty.

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Speaker 1: Amazon is looking to achieve net zero carbon by twenty forty.

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Speaker 7: Now Show wants to be net zero by twenty fifty.

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Speaker 1: Net zero is a pledge that you won't increase the

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Speaker 1: amount of carbon in the atmosphere.

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Speaker 5: Eric.

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Speaker 2: Of course, all this sounds pretty dire, but one of

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Speaker 2: the things you write in the story is that there

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Speaker 2: are solutions if we want to embrace them. So what

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Speaker 2: will it actually take to slow or possibly reverse these effects?

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Speaker 1: Here we bring some relief. The fact is as dire

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Speaker 1: as all the things we talked about are at the

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Speaker 1: top of the podcast. It is phenomenally in to watch

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Speaker 1: people making the twenty first century economy by deploying solar

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Speaker 1: and wind power and electric vehicles. The price declines we've

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Speaker 1: seen in the last ten years and those three technologies

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Speaker 1: are unprecedented. The price of solar is I think eleven

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Speaker 1: percent what it was in twenty eleven. Accordingly, solar power

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Speaker 1: is cheaper than coal in most of the world. That

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Speaker 1: economic fact is avoiding emissions and changing the way societies

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Speaker 1: power themselves.

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Speaker 4: Most of the tools that we need for the next

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Speaker 4: thirty years already exist. You mentioned solar and wind. Those

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Speaker 4: are already super super cheap, and probably the prices won't

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Speaker 4: come down that much more. So how do you accelerate

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Speaker 4: those going forward at the end of this decade? And

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Speaker 4: that's where we really need to see big changes in

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Speaker 4: investment in things like battery storage to help these kind

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Speaker 4: of technologies work around the clock.

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Speaker 7: As one of our.

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Speaker 4: Guests in the article described the predicament, So that's going

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Speaker 4: to be where the real technological changes need to start

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Speaker 4: taking place.

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Speaker 2: Jan can you talk a bit more about batteries. Why

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Speaker 2: are batteries so important.

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Speaker 4: In a twenty to fifty scenario, will be almost all

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Speaker 4: renewable energy, so solar, wind and these are things which

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Speaker 4: are intermittent by nature. So solar works best obviously when

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Speaker 4: there's sun in the sky, wind, when there's wind happening,

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Speaker 4: and when those things don't exist, that's when you need

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Speaker 4: to store that electricity using batteries on the grid so

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Speaker 4: that we can use power at all times of the day,

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Speaker 4: depending on our uses and needs, and that's one of

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Speaker 4: the areas which needs to accelerate really really quickly, especially

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Speaker 4: this decade.

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Speaker 3: So right now, our economy is largely being run on

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Speaker 3: fossil fuels, even as we've been slowly ramping up our

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Speaker 3: reliance on cleaner energies and renewable energies.

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Speaker 6: But then we're also seeing that there are.

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Speaker 3: Just a lot of industrial processes where fossil fuels or

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Speaker 3: emissions or sort of like baked in. And yet there

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Speaker 3: is change research. Tons of money being dumped into this,

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Speaker 3: oftentimes their solutions, but they haven't been proven yet a

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Speaker 3: market level scale that we know we'll probably get there

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Speaker 3: if enough money and support continues, could get there in

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Speaker 3: the next decade. So examples of this are like sustainable

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Speaker 3: aviation fuel, so having jet fuels and plane fuel that

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Speaker 3: is greener. It's making cement and other types of construction

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Speaker 3: material in a greener way. We're not just wanting to

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Speaker 3: continue our energy use as it is today but powered

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Speaker 3: explicitly by cleaner energy sources. But it's also increasingly finding

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Speaker 3: ways to kind of reduce that overall powerload and adding

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Speaker 3: in efficiencies as much as we can.

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Speaker 2: John, Even though it seems like all these technologies are

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Speaker 2: there if we want to use them, the price tag

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Speaker 2: is still pretty eye popping.

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Speaker 4: So from our research, the total cost of getting to

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Speaker 4: net zero by twenty to fifty is going to cost

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Speaker 4: a whopping one hundred and ninety six trillion dollars.

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Speaker 7: Now that sounds like a lot of money.

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Speaker 4: But that's actually quite a low price tag given the

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Speaker 4: cost of not acting and possibly seeing these kind of

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Speaker 4: tipping points creating exponential costs to try and cope. But

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Speaker 4: we're also going to have to see things like, by

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Speaker 4: the end of this decade, a four fold ratio of

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Speaker 4: investment in renewables to that on fossil fuels, and then

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Speaker 4: that's even going to have to climb up to a

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Speaker 4: ratio of ten to one, So that means every dollar

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Speaker 4: we spend on fossil fuel infrastructure will have to be

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Speaker 4: spending ten dollars on renewables. As we get towards the

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Speaker 4: middle of this century, these kind of amounts of money

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Speaker 4: are already going in. I mean, we've seen from the

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Speaker 4: US Inflation Reduction Act that's a huge package of incentives

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Speaker 4: of tax credits to kind of boost electric vehicles to

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Speaker 4: boost hydrogen production, and other parts of the world are

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Speaker 4: trying to catch up with that as well. We've seen

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Speaker 4: in the EU just less than seven months after the

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Speaker 4: IRA was passed into law, that the EU had to

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Speaker 4: come up with its own package to try and stimulate

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Speaker 4: these kind of new technologies that will really help speed

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Speaker 4: the transition.

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Speaker 3: We often talk about how there can be a positive

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Speaker 3: feedback in warming where processes happen and then you get

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Speaker 3: more warming, kind of in this spiral which we're in now,

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Speaker 3: but there's also a positive feedback when it comes to

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Speaker 3: putting investment into these solutions. So part of the reason

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Speaker 3: why solar costs have dropped so much is because we

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Speaker 3: had invested a lot of money early on into research

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Speaker 3: to kind of figure out ways to drive it down

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Speaker 3: and to deploy it more. And now that's sort of

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Speaker 3: what we need to do for a lot of these

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Speaker 3: other technologies, and it's happening now with electric cars, so

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Speaker 3: a lot of money was put in. We're kind of

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Speaker 3: getting at this point where more people are buying them

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Speaker 3: year after year, they are cheaper.

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Speaker 5: They are cheaper. There has to be the huge cost.

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Speaker 3: Absolutely, and the more money we put into it and

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Speaker 3: kind of build out those technologies the cheaper it's then

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Speaker 3: going to get in the future.

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Speaker 2: So I guess that brings us to the big question,

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Speaker 2: will governments, will citizens embrace these changes and actually do

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Speaker 2: what's needed to be done before it's too late.

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Speaker 1: It is all hands on deck. This is a problem

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Speaker 1: we've known about for decades. We've put off many changes

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Speaker 1: that we could have put in place some time ago. Interestingly,

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Speaker 1: many of the changes we need we didn't even have

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Speaker 1: available for the last few years. Do technologies appear when

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Speaker 1: we need the most.

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Speaker 2: John, is it foolish to be optimistic at this point?

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Speaker 7: It's definitely not foolish.

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Speaker 4: I think we're definitely in a stage where we're taking

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Speaker 4: two steps forward one step back, depending on the government

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Speaker 4: of the day in the US or in various countries

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Speaker 4: of the EU, depending on what the government of China

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Speaker 4: decides to do in the years ahead. I think there

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Speaker 4: is progress being made. As we've said in this article,

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Speaker 4: we have the tools to do it. It's just going

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Speaker 4: to be a case of the political will and drive

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Speaker 4: to make sure that those costs are shared evenly across society.

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Speaker 2: John, Zarah Eric, thanks so much for coming on the show.

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Speaker 6: Thanks for having us.

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Speaker 2: Thanks for listening to us here at The Big Take.

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Speaker 2: It's a daily podcast from Bloomberg and iHeartRadio. For more

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00:26:28,359 --> 00:26:31,520
Speaker 2: Email us questions or comments to Big Take at Bloomberg

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