The macro report, prepared by an international panel of scientists and published in the prestigious medical journal The Lancet, not only reveals that deaths attributable to extreme heat will increase by 4.7 times by the middle of this century (with particular frequency in Europe), but also points out the culprits of this situation. And in between are two sectors: the big oil, gas and coal companies on the one hand, and the government and the government on the other. Banks that continue to provide financing fossil fuels This causes global warming.
“The financial sector also contributes to health threats from global warming.” Total loans given from private banks to the fossil fuel sector reached 572 billion dollars The report includes the following statements: “In the 2017-2021 period.”
Total loans given from private banks to the fossil fuel sector reached 572 billion dollars in the 2017-2021 period
The 40 private banks that provide the most loans to the fossil fuel sector invested $489 billion per year between 2017 and 2021More than half of loans increased between 2010 and 2016, The Lancet notes; this “further jeopardizes the energy transition towards decarbonisation”.
More money for oil than for health
However, aid for oil and gas, the real enemies of human health, does not come only from banks. Governments themselves continue to fund them. Despite scientific evidence of the worsening climate caused by these fossil fuels, “69 of the 87 governments analyzed in this report in 2020 provided a net total of $305 billion in subsidies to the fossil fuel industry.” Interestingly, these subsidies “They exceeded national health expenditures by 10% in 26 countries and by 50% in 10 countries.”
The material creators of global warming, the big oil and gas companies, are intensifying their production rather than reducing it. Special, The world’s 20 oil and gas giants increased their fossil fuel production forecasts compared to last year.This will cause greenhouse gas emissions to exceed levels compatible with 1.5°C warming by 173% by 2040, compared to the 112% increase predicted in 2022 strategies.
In this way, these companies “will move further away from fulfilling their commitments to the Paris Agreement.”
Moreover, Major oil and gas companies “allocated only 4% of capital investments to renewable energy” The report states that the possibility of a healthy future is therefore even more unattainable.
Towards 2.7°C warming instead of 1.5°C
As a result of all this, “The world is going in the wrong direction” and the damage to the health and physical integrity of billions of people around the world is getting worse.
Although the Paris Agreement foresees a maximum additional warming of 1.5°C compared to the pre-industrial period by the end of this century, the reality is that “currently, “The planet is on track to reach 2.7°C of warming by 2100.”that is, not more than twice as far from what was envisaged in that agreement. The consequences could be disastrous. “The lives of current and future generations are at stake,” the authors say.
“The continued expansion of fossil fuels is a death sentence for millions of people.”
UN Secretary-General António Guterres explained the current situation clearly: “The continued expansion of fossil fuels is a death sentence for millions of people.”. There is no excuse for persistent delay in climate action. “If we want to avoid the worst of climate change, save millions of lives and help protect the health of everyone living on Earth, temperature rise must be limited to 1.5°C.”
Despite the current global warming of 1.14°C, humanity already experiences extreme temperatures on average 86 days a year, with all the damage this causes to health. Actually, Heat-related deaths among people over 65 increased by 85% between 2013 and 2022Compared to the period 1991-2000. The document, prepared with the participation of 114 experts from around the world, leaders of 52 research institutions and UN organizations, states that this figure is well above the 38 percent increase expected if there was no climate change.
ray of hope
However, the Lancet report also offers some glimmer of hope amidst such a bleak picture. The hero of the positive part is the increasing prevalence of clean energies.
“Deaths from air pollution from fossil fuels have fallen by almost 16% since 200580 percent of this reduction is a result of efforts to reduce pollution from burning coal, the most polluting product.
Moreover, Global investment in clean energy increases by 15% in 2022, It reached $1.6 trillion and even surpassed 61% of investment in fossil fuels. Additionally, clean energy credits reached $498 billion in 2021 and are about to surpass fossil fuels. As a result, renewable energy represented 90% of the growth in electricity capacity in 2022.
Reference work: Lancet Countdown on health and climate change
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