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Climate Solutions 2: Low-Carbon Re-Industrialisation 108 Climate Risk
13 Glossary Abatement – A reduction in greenhouse gas emissions (also see mitigation). Adaptation – The Intergovernmental Panel on Climate Change (IPCC) defines adaptation as an “adjustment in natural or human systems in response to actual or expected climatic stimuli or their effects, which moderates harm or exploits beneficial opportunities” (Metz et al. 2001). Anthropogenic – The result of human activities. Base-load – Normally refers to a power station that runs constantly (24 hours per day, 7 days per week), regardless of energy demand. Due to their slow startup and shut-down times it is more costeffective for them to remain on. BAU – Business-as-usual: Refers to the emissions or energy trajectory associated with undertaking activities without any measures to reduce greenhouse gas emissions. Often greenhouse gas mitigation policies are compared to business-as-usual to show the potential impact of the policy. Capacity – Maximum rated power of a power station, usually measured in megawatts (MW). Capacity factor – The percentage of yearly energy generated as a fraction of its maximum possible rated output. CCS – Carbon capture and storage. CO 2 – Carbon dioxide, which is one of the primary anthropogenic greenhouse gases. CO 2 -e – Carbon dioxide equivalent: The net effect greenhouse gas emissions are often presented as carbon dioxide equivalent, which is a conversion to the global warming potential of carbon dioxide over a 100-year period. For example, the global warming potential for a tonne of methane is 21 times that of a tonne of carbon dioxide. Critical development period – The time period up until a low-emissions industry has harnessed 20% of the available resource for that particular technology. This is also sometimes referred to as the growth phase. Emissions intensity – The emissions generated per unit of input or output. Fossil fuel – A non-renewable source of energy formed from decayed organic matter millions of years ago. The most predominant fossil fuels are coal, oil and gas. Fugitive emissions – The emissions that come from the mining, transportation and storage of fossil fuels (but do not include the emissions from fossil fuel combustion). GDP – Gross Domestic Product: The economic value of a country’s annual production of goods and services. Geosequestration – Refers to the capture and geological (underground) storage of CO 2 emissions. Climate Solutions 2: Low-Carbon Re-Industrialisation 109 Climate Risk
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A Climate Risk Report Climate Solut
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Climate Risk Team Dr. Karl Mallon D
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Preface by WWF The time for action
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7.5 Renewable Energy and CCS Combin
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Executive Summary Re-Industrialisin
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Stable Investment Environments Low-
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Industry scale Low-emissions indust
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Annual relative cost (billion US$/y
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Climate Solutions 2: Low-Carbon Re-
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Probability of exceeding 2 o C 90 8
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2 Method 2.1 Step 1: Establish Thre
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in a given year. This cost differen
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3 Introduction to the Climate Risk
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3.2 Key Inputs In addition to data
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technologies). Each wedge grows fro
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significant contribution (the “ra
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The growth of any industry follows
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3.3.8 Form of Outputs and Results A
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Figure 16: The method for creating
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3.4.5 Waste This area primarily inv
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emissions from production, refining
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4 Defining the Climate and Emission
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Any deterioration in the efficiency
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above. Large-scale changes in clima
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warming below 2°C, and therefore a
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4.5 The Concept of Overshoot and Re
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Thus the 85% and 50% reduction figu
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Table 2: Summary data for the two m
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5 Scenario A (Minus 63%): Emissions
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120 100 80 60 40 20 0 2010 Fugitive
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5.2 Final Energy Assuming that all
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3.0E+08 2.5E+08 Energy Efficiency /
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25 20 15 10 5 0 Fugitive Waste Land
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6 Scenario B (Minus 80%): Emissions
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120 100 80 60 40 20 0 Fugitive Wast
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6.2 Final Energy 3.0E+08 2.5E+08 Fi
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Page 75 and 76: 7 Scenario A (Minus 63%): Costs, In
Page 77 and 78: 7.3 Renewable Energy Investment The
Page 79 and 80: 7.5 Renewable Energy and CCS Combin
Page 81 and 82: 7.7 Investment/Return Profiles The
Page 83 and 84: Unit cost (US$/MWh) 700 600 500 400
Page 89 and 90: 7.9 Investment and Return Ratios As
Page 91 and 92: 8 Scenario B (Minus 80%): Costs, In
Page 93 and 94: 8.3 CCS Costs The annual and cumula
Page 95 and 96: 8.5 Revenue Generation After achiev
Page 101 and 102: 8.8 Investment and Return Ratios Fi
Page 103 and 104: 9 Industry Thresholds - The Point o
Page 105 and 106: Emissions (GtCO 2 -e/yr) 120 100 80
Page 107 and 108: 10 Discussion of Findings The follo
Page 109 and 110: annum), with various commencement y
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Page 113 and 114: to liquid or gaseous fuels). This h
Page 115 and 116: issue of how the economic activity
Page 117 and 118: 11 Policy Implications and Opportun
Page 119 and 120: and nations - not just the ones tha
Page 121 and 122: 12 References Allan et al. 2007, 20
Page 123: Renewable Energy Policy Network for
Page 127 and 128: of renewable energy include wind, b
Page 129 and 130: 14 Appendix: Model Input Data Since
Page 131 and 132: Table 6: Current installed capacity
Page 133 and 134: Table 9: Simulation mean result for
Page 135 and 136: Table 11: Simulation mean result fo
Page 141 and 142: Figure 88: Coal-fired electricity g
Page 143 and 144: 15 Appendix: Learning Rate Retardat
Page 145 and 146: Cumulative relative cost (billion U
Page 147 and 148: 16 Appendix: Sustainable Industry G
Page 149 and 150: 17 Appendix: WWF Definitions of Via
Page 151 and 152: so far. Large dam proposals at many
Page 153 and 154: Competition for land use and social
Page 155 and 156: eserves are used up, the focus move
Page 157 and 158: 17.5 Nuclear Energy 17.5.1 Signific
Page 159: Climate Risk Pty Limited (Australia
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