Climate Change: Can renewables do it all to get to NetZero by 2050?

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December 2022    |    Did someone forward you this email? Subscribe Here Climate Change: Can renewables do it all to get to NetZero by 2050?    As 2022 draws to a close and we review the past year, it is clear that the race against climate change has continued apace. International events, such as COP 27, and natural emergencies, like droughts and wildfires, have shaped critical conversations and influenced public policy decisions around one of the most defining issues of our time.   Over the past month at Future Planet we have taken a deep dive into tackling not just climate change but the energy crisis facing much of Europe. We've asked can renewables do it all to get to #NetZero by 2050? Our answer: probably not. And will we need new nuclear technologies to fill the gap? Likely yes. Our Advisory Board Chair, Lord Norman Foster, was guest of honour at a fantastic roundtable lunch to debate these very questions. We heard from entrepreneurs, business leaders, investors, academics, and policy makers on the latest innovations in wind, solar, energy storage, smart grids and nuclear energy, and not to forget, the all-important energy efficiency.  One thing that we all agreed on – it will take all of the above to meet the 2050 ambition.   Last month we gathered to discuss whether renewables alone could get us to net zero by 2050.  Hear from Future Planet Capital’s Advisory Board Chair, Lord Norman Foster, Douglas Hansen-Luke, Executive Chairman of Future Planet Capital, Professor Malcolm Morley OBE of Anglia Ruskin University, and Wen-Yu Weng, Principal Consultant of Energy and Utilities Practice at PA Consulting.  Fusion: The answer to near-limitless clean energy We recently welcomed the brilliant Melanie Windridge of Fusion Energy Insights to our offices for a teach-in on the current state of fusion technology, a market that could provide humanity with a near-limitless source of clean energy later this century. Here's what we learnt:  ⚛️ We are seeing rapid breakthroughs in fusion energy thanks to advances in technology, such as computing processing power, and an influx of private sector investment, which is being helped by the urgency of tackling the climate crisis. ☢️ The safety of fusion energy means that it will face a far less stringent regulatory regime than today's nuclear industry, but many countries have not yet set up effective frameworks for this. Funding in fusion energy companies continues to skyrocket. This year has seen more than $2.8 billion poured into startups, an astonishing 139% increase on the previous year. The UK is already a world leader in fusion energy, the government has a fusion strategy and is more advanced in creating a regulatory regime than anywhere else, with a number of exciting startups basing themselves here. The biggest cluster is developing in Oxfordshire, around the CCFE - Culham Centre for Fusion Energy, where a number of fusion startups are basing themselves thanks to the availability of skilled workers and companies with the potential to develop the necessary supply chain. It is currently predicted that we will see fusion demonstrating the production of electricity within the 2030s. As early investors in one of the pioneering companies producing fusion energy, Tokamak Energy , we remain incredibly excited by the huge opportunity it provides in reducing carbon emissions.  Thank you, Dr Windridge, for your time. Focus on the Blue Economy   With much focus on the green economy, the blue economy has been overlooked for years. A shift is upon us.  The COP27 Ocean Innovators Platform panel, hosted by the Fondation Prince Albert II de Monaco and attended by Future Planet Capital’s Portfolio Manager, Lyle Pentith, highlighted the essential role that investment and innovation will play in the future of the blue economy, and explored some of the most impactful solutions and technologies transforming the ocean ecosystem. We are already seeing the impact investment is having through supporting initiatives and technologies mitigating climate change.  Future Planet Capital has been actively contributing to the investment of the blue economy, with a recent partnership with the Prince Albert II of Monaco Foundation and the Monaco Government, creating a mandate aimed at tackling key issues impacting our oceans.  Lyle has written about the challenges and opportunities in the blue economy discussed at COP27 here    Want to know more? Contact Ed Phillips or Abi Wye at Future Planet Capital.      Copyright © 2022 FPC, All rights reserved. This information is being communicated by Future Planet Capital (Ventures) Limited, which is authorised and regulated by the Financial Conduct Authority.This email message and any files transmitted with it are intended solely for the addressee(s) and are considered privileged and confidential. If you have received this email in error please (i) delete it and all copies of it from your system and (ii) destroy any hard copies of it. You should not divulge, copy, forward, or use the contents, attachments, or information in any way. Any unauthorized use or disclosure may be unlawful. Future Planet Capital gives no warranty as to the accuracy or completeness of email messages and accepts no responsibility for changes made after dispatch.   Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.