Like what you've read?

On Line Opinion is the only Australian site where you get all sides of the story. We don't
charge, but we need your support. Here�s how you can help.

  • Advertise

    We have a monthly audience of 70,000 and advertising packages from $200 a month.

  • Volunteer

    We always need commissioning editors and sub-editors.

  • Contribute

    Got something to say? Submit an essay.


 The National Forum   Donate   Your Account   On Line Opinion   Forum   Blogs   Polling   About   
On Line Opinion logo ON LINE OPINION - Australia's e-journal of social and political debate

Subscribe!
Subscribe





On Line Opinion is a not-for-profit publication and relies on the generosity of its sponsors, editors and contributors. If you would like to help, contact us.
___________

Syndicate
RSS/XML


RSS 2.0

A killing in clean technology

By Paul Gilding - posted Monday, 18 August 2008


We'll be moving agricultural zones, redesigning cities, and so it goes on. This level of economic change will also need a lot of services. Banks and brokers will create a whole new set of financial products. Accounting firms will measure and audit carbon emitted and carbon saved. Land values may increase to support bio-fuels and to plant carbon absorbing trees. Uranium and gas volumes and prices will increase as coal becomes the new tobacco, unless they can get carbon capture and storage to work, in which case that will also be enormous.

The International Energy Agency estimates that if CCS works we will need to install CO2 capture at 35 coal-fired and 20 gas-fired power plants every year from 2010 to 2050 at a cost of about $1.5 billion each. That's more than $80 billion, every year for 40 years.

Like any rapid transformation there will be great opportunities, great risks, bursting bubbles, huge successes and dramatic failures. Just the stuff the markets are great at managing when good policy is put in place to guide them.

Advertisement

So this is, without doubt, the largest and fastest economic transformation the world has seen. Not just because we can do it, like the information revolution or industrial revolution, but because business and government have decided we absolutely have to do it, and most scientists are saying do it quickly because the risks posed by inaction are getting higher every year.

That's why investors look at it and see a kind of dotcom boom on steroids with military support. It doesn't get any bigger than this. Hold on for the ride.

  1. Pages:
  2. 1
  3. Page 2
  4. All

First published in The Australian on August 7, 2008.



Discuss in our Forums

See what other readers are saying about this article!

Click here to read & post comments.

2 posts so far.

Share this:
reddit this reddit thisbookmark with del.icio.us Del.icio.usdigg thisseed newsvineSeed NewsvineStumbleUpon StumbleUponsubmit to propellerkwoff it

About the Author

Paul Gilding is an independent adviser and commentator on sustainability and climate change and a Special Advisor to KPMG. Former roles include executive director of Greenpeace International, founder of Ecos Corporation and CEO of Easy Being Green. www.paulgilding.com

Other articles by this Author

All articles by Paul Gilding

Creative Commons LicenseThis work is licensed under a Creative Commons License.

Photo of Paul Gilding
Article Tools
Comment 2 comments
Print Printable version
Subscribe Subscribe
Email Email a friend
Advertisement

About Us Search Discuss Feedback Legals Privacy