Solving for Climate Kingsmill Bond: How is the energy transition going?
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Nov 7, 2024 Kingsmill Bond, an Energy Strategist at RMI and former city analyst, shares his optimistic vision for the energy transition. He argues that we peaked in fossil fuel demand a decade ago and predicts a fossil-free future in just five years. Bond challenges misconceptions around renewable costs, drawing parallels to past tech shifts. He discusses China’s leading role in electrification, the financial sector’s rapid shift toward renewables, and calls for crucial actions against climate change, including ending fossil fuel subsidies.
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Decarbonization Progress
- Kingsmill Bond views decarbonization progress like a marathon, estimating we are at mile three or five.
- He emphasizes focusing on the growth of clean energy, which is meeting new energy demand in various sectors.
China's Clean Energy Shift
- China is shifting to clean energy due to limited oil and gas resources.
- They view electrifying end-use as a global leadership opportunity, exemplified in the car sector.
BYD Example
- Akshat Rathi's book discusses BYD, a large EV manufacturer from China.
- BYD's growth stems from recognizing their vulnerability to oil dependence and Western car manufacturers.