00:00:12.545 --> 00:00:16.816
We often hear that renewables
aren’t reliable,

00:00:17.484 --> 00:00:21.354
so we need fossil plants
too, to keep the lights on

00:00:21.621 --> 00:00:25.125
because solar and wind
power are variable.

00:00:25.125 --> 00:00:27.327
But variable doesn't
mean unpredictable.

00:00:27.961 --> 00:00:31.231
It's true that you need
to balance the grid, and that's

00:00:31.231 --> 00:00:34.868
why we built the grid
because no power plant is 24/7.

00:00:34.868 --> 00:00:35.969
They all break.

00:00:35.969 --> 00:00:38.805
And when a big power plant
breaks, you lose

00:00:39.305 --> 00:00:43.043
maybe a billion
watts in milliseconds.

00:00:43.043 --> 00:00:44.411
And you you lose it

00:00:44.411 --> 00:00:46.546
often for weeks or months
and without warning.

00:00:47.147 --> 00:00:48.515
That's why we built the grid,

00:00:48.515 --> 00:00:52.285
so that working plants
can back up failed plants,

00:00:52.285 --> 00:00:55.688
because you don't have one plant
serving one load.

00:00:56.056 --> 00:00:59.225
You have all plants
serving the grid which shares

00:00:59.225 --> 00:01:02.462
the power and delivers it
to whatever load needs it.

00:01:02.796 --> 00:01:06.266
So the same grid
we built for that ability

00:01:06.266 --> 00:01:08.601
for plants to back each other up

00:01:08.601 --> 00:01:13.239
can also back up the variability
of wind and solar cells

00:01:13.573 --> 00:01:16.776
by bringing
in a lot of different resources.

00:01:17.143 --> 00:01:19.579
Ten, actually, different kinds

00:01:19.579 --> 00:01:22.949
that are carbon free,
starting with efficient use

00:01:22.949 --> 00:01:26.219
and then timely use, better
forecasting,

00:01:26.653 --> 00:01:29.022
sharing renewables
over a bigger area

00:01:29.389 --> 00:01:30.290
so you can back up

00:01:30.290 --> 00:01:34.360
with renewables of another kind
or in another place, and soon

00:01:34.360 --> 00:01:38.131
we can integrate electric cars
into the grid.

00:01:38.131 --> 00:01:40.133
That's an immense
storage resource

00:01:40.133 --> 00:01:42.569
that we already paid
for to drive around in.

00:01:42.569 --> 00:01:46.739
We'll have this enormous
amount of battery capacity

00:01:47.173 --> 00:01:49.242
running around
and we know where it is,

00:01:49.676 --> 00:01:51.344
and it's mostly parked. So

00:01:52.445 --> 00:01:55.215
for example, in situations like,
you drive your charged up

00:01:55.215 --> 00:01:58.451
electric cars to the green
soccer stadium in Amsterdam.

00:01:59.152 --> 00:02:02.755
And if you plug it in
to run the stadium,

00:02:03.356 --> 00:02:05.158
they let you in for free
and they leave

00:02:05.158 --> 00:02:06.559
you enough power to get home
with.

00:02:07.193 --> 00:02:08.595
Isn’t that cool?

00:02:09.262 --> 00:02:11.264
But there's a lot of money
to be made

00:02:12.232 --> 00:02:17.704
treating electric vehicles
as an immense source of services

00:02:17.704 --> 00:02:20.373
that the grid needs,
and will pay for.

00:02:56.650 --> 00:02:57.918
Clean Energy Columbus

00:02:57.918 --> 00:02:59.487
is the City of Columbus'

00:03:00.254 --> 00:03:03.591
100% Ohio
based Clean Energy Program.

00:03:03.591 --> 00:03:05.793
Mayor Guenther
committed our community to

00:03:05.793 --> 00:03:09.363
being carbon neutral by 2050
and just really making sure that

00:03:09.363 --> 00:03:13.234
our community is doing its part
to combat global climate change

00:03:13.234 --> 00:03:17.104
and really infuse equity
and environmental justice

00:03:17.104 --> 00:03:18.839
and racial justice
into everything

00:03:18.839 --> 00:03:20.775
we're doing around
sustainability.

00:03:21.509 --> 00:03:23.377
The city is really purchasing

00:03:23.377 --> 00:03:26.914
clean energy from a variety
of different sources to power

00:03:27.415 --> 00:03:30.051
our homes and small businesses
right here in our community.

00:03:30.651 --> 00:03:35.356
We're estimating nearly 1.2
million tons of emissions

00:03:35.356 --> 00:03:38.225
are going to be reduced
each year through the program.

00:03:38.225 --> 00:03:42.563
That is the equivalent
of taking nearly 300,000 cars

00:03:42.563 --> 00:03:43.531
off of our roads.

00:03:43.531 --> 00:03:47.134
Really, really huge impact
when it comes to our overall

00:03:47.134 --> 00:03:49.003
climate goals
and making our community

00:03:49.003 --> 00:03:51.038
healthier
and just a better place to live.

00:03:51.439 --> 00:03:53.007
We weren't able to move forward

00:03:53.007 --> 00:03:55.242
with the program
unless the community said

00:03:55.242 --> 00:03:57.878
we had the okay to do it
and to move forward.

00:03:58.112 --> 00:04:01.482
The issue passed with 76%
approval.

00:04:01.482 --> 00:04:04.351
Nearly
80% of voters approved this,

00:04:04.585 --> 00:04:05.986
which means there's
a lot of support

00:04:05.986 --> 00:04:07.955
for this out in the community.

00:04:07.955 --> 00:04:11.292
So I think when a city as large
as the city of Columbus,

00:04:11.292 --> 00:04:14.261
you know, we're the biggest city
in Ohio, we're growing

00:04:14.261 --> 00:04:18.099
rapidly, makes a commitment
to 100% clean energy

00:04:18.799 --> 00:04:20.935
and locally based clean energy,

00:04:20.935 --> 00:04:25.005
that really demonstrates
to clean energy developers

00:04:25.005 --> 00:04:29.743
that there's a demand for wind
and for solar energy.

00:04:29.977 --> 00:04:32.646
Because we're creating
that demand, we're a guaranteed

00:04:32.646 --> 00:04:35.049
what they call an "off
taker" for the energy.

00:04:35.049 --> 00:04:37.051
Those projects
have a lot of certainty.

00:04:37.051 --> 00:04:39.386
They have a customer
at the end of the day.

00:04:39.386 --> 00:04:42.356
Many of these projects are still
in the development phase.

00:04:42.823 --> 00:04:45.759
We are going to have what
we're calling two bridge periods

00:04:45.759 --> 00:04:49.563
that get us to that 100% Ohio
wind and solar.

00:04:50.231 --> 00:04:53.367
The energy is coming
from a mix of facilities

00:04:53.367 --> 00:04:55.136
that are located in Ohio as well

00:04:55.136 --> 00:04:56.937
as from other Midwestern states.

00:04:57.972 --> 00:04:58.572
It's going to

00:04:58.572 --> 00:05:01.909
be REC backed, which is
a Renewable Energy Credit.

00:05:02.476 --> 00:05:06.247
And then in that second year
we will have a blend of RECs

00:05:06.247 --> 00:05:07.848
as well as then those projects

00:05:07.848 --> 00:05:11.018
that start to be completed
and plug online into the grid

00:05:11.252 --> 00:05:14.088
And and then we believe by 2024
we will be

00:05:14.088 --> 00:05:16.557
all Ohio based wind and solar.

00:05:17.291 --> 00:05:19.994
Ohio wind and solar means
that those projects

00:05:19.994 --> 00:05:22.563
are definitely going
to go through and get completed

00:05:22.830 --> 00:05:26.167
and come on to our grid
to make our energy cleaner

00:05:26.167 --> 00:05:29.637
and to make our communities
healthier.

00:05:30.571 --> 00:05:31.872
There was a feeling
that we needed

00:05:31.872 --> 00:05:32.473
to set

00:05:32.473 --> 00:05:36.377
an aggressive and ambitious goal
around clean energy because

00:05:36.377 --> 00:05:39.680
we had made these really strong
commitments around

00:05:40.214 --> 00:05:43.350
climate
and around sustainability.

00:05:43.350 --> 00:05:45.553
And just knowing that
climate change is real

00:05:45.553 --> 00:05:48.122
and our residents are
being impacted by it right now,

00:05:48.122 --> 00:05:49.523
we really can't afford

00:05:49.523 --> 00:05:52.726
to keep waiting or kicking
the can down the road.

00:05:52.726 --> 00:05:55.062
It was really important to us
that we set a goal

00:05:55.062 --> 00:05:57.498
that was aggressive,
but also achievable.

00:05:57.831 --> 00:05:58.666
We know this is going

00:05:58.666 --> 00:06:02.269
to have such a positive impact
for our residents

00:06:02.636 --> 00:06:05.239
and particularly
our communities of color,

00:06:05.739 --> 00:06:08.175
low income communities,
the people who are really on

00:06:08.175 --> 00:06:10.444
the front lines
of climate change.

00:06:10.444 --> 00:06:13.414
Our program
also includes a community grant,

00:06:13.647 --> 00:06:16.483
and so the city is actually
going to reinvest

00:06:16.483 --> 00:06:19.453
into those neighborhoods
and into those residents

00:06:19.453 --> 00:06:23.057
around energy efficiency
so that they can save money

00:06:23.057 --> 00:06:24.091
on their bills

00:06:24.091 --> 00:06:27.861
and make their homes healthier
and more comfortable for them.

00:06:29.263 --> 00:06:31.966
Workforce development,
that's another big aspect

00:06:31.966 --> 00:06:35.169
and this is going to help
support clean energy

00:06:35.169 --> 00:06:38.505
jobs development, as well
as exposing our residents

00:06:38.505 --> 00:06:42.509
to the opportunities that exist
in the clean energy industry.

00:06:42.509 --> 00:06:46.180
Our program is helping support
nearly 4500 jobs

00:06:46.180 --> 00:06:47.881
across the state of Ohio as

00:06:47.881 --> 00:06:50.384
those facilities are being built
and then maintained.

00:06:51.852 --> 00:06:54.488
So it's a way
for us to empower the community

00:06:54.488 --> 00:06:58.392
to really make choices when
it comes to their energy use.

00:07:00.261 --> 00:07:03.197
We're part
of a national network of cities

00:07:03.864 --> 00:07:06.233
that are working on climate
and sustainability

00:07:06.233 --> 00:07:09.169
through the American Cities
Climate Challenge.

00:07:09.637 --> 00:07:11.438
It is a Bloomberg
Foundation

00:07:11.438 --> 00:07:14.275
funded climate
accelerator program.

00:07:15.009 --> 00:07:17.544
It is a grant program
that the city won

00:07:17.544 --> 00:07:19.546
and was able to achieve
and participate.

00:07:20.114 --> 00:07:22.349
And there are 25 cities
across the US

00:07:22.349 --> 00:07:24.885
that are part
of this accelerator program.

00:07:26.186 --> 00:07:26.820
We've been able

00:07:26.820 --> 00:07:29.456
to meet with other cities
about our program.

00:07:29.890 --> 00:07:31.258
There have been
some really big cities

00:07:31.258 --> 00:07:33.294
that are coming to us
in Columbus, Ohio,

00:07:33.294 --> 00:07:35.863
asking us about the process
that we went through.

00:07:35.863 --> 00:07:38.699
So that's really exciting to be
able to help share with them.

00:07:38.932 --> 00:07:40.200
That's going to help

00:07:40.200 --> 00:07:41.335
not just Columbus,

00:07:41.335 --> 00:07:43.404
but our whole state
and then our whole nation

00:07:43.404 --> 00:07:45.606
when it comes to sustainability
and climate.

00:07:45.606 --> 00:07:49.576
Our program is going to be
the third largest in the nation,

00:07:49.576 --> 00:07:53.213
the largest in the Midwest,
really shifting a majority

00:07:53.213 --> 00:07:57.051
of our residents very quickly
to clean renewable energy.

00:07:57.551 --> 00:08:00.154
And that's one of the things
that is so exciting about

00:08:00.154 --> 00:08:01.288
the program,

00:08:01.288 --> 00:08:04.091
is that we've been able
to make that shift so rapidly.

00:08:04.425 --> 00:08:06.093
And I think the more that other

00:08:06.093 --> 00:08:10.097
communities and residents
start to make that request

00:08:10.097 --> 00:08:11.999
and kind of demand
that they are receiving

00:08:11.999 --> 00:08:12.800
clean energy,

00:08:12.800 --> 00:08:15.402
we'll just see more of that
growth start to happen.

00:08:16.203 --> 00:08:17.271
Mayor Guenther

00:08:17.271 --> 00:08:19.573
is the one who set the goal
and the vision for this.

00:08:19.573 --> 00:08:20.274
But I know there were

00:08:20.274 --> 00:08:23.177
a lot of community partners
who worked with the city.

00:08:23.844 --> 00:08:26.580
The local Sierra Club
was definitely a huge

00:08:26.580 --> 00:08:30.884
proponent of 100% clean energy
and that really helped

00:08:30.884 --> 00:08:32.653
bring together

00:08:32.653 --> 00:08:35.656
all of our departments,
all of our stakeholders

00:08:35.656 --> 00:08:36.890
in the community,

00:08:36.890 --> 00:08:38.959
as well as the public,
and just residents

00:08:38.959 --> 00:08:41.061
who are passionate
about clean energy.

00:08:41.061 --> 00:08:42.496
I mean, it really helped
to bring everybody

00:08:42.496 --> 00:08:44.565
together around a common goal.

00:08:44.565 --> 00:08:47.501
When you can take a moment
to take a step back

00:08:47.501 --> 00:08:50.037
and just think about the impact
that it's

00:08:50.037 --> 00:08:52.239
the program is able to have.

00:08:52.239 --> 00:08:55.809
It really is staggering
to think about and is just

00:08:56.477 --> 00:08:58.679
exciting
to be a part of honestly.

00:08:58.679 --> 00:09:01.081
I think it says to other cities and communities

00:09:01.081 --> 00:09:02.716
that this is something we can do,

00:09:02.716 --> 00:09:04.251
this is achievable

00:09:04.251 --> 00:09:07.154
and we need to all be pursuing this and,

00:09:07.154 --> 00:09:09.757
you know, banding together,
learning from one another

00:09:09.757 --> 00:09:13.927
and making these commitments in
order to really drive change.

00:09:13.927 --> 00:09:16.363
Cleaning our grid
and making that transition

00:09:16.363 --> 00:09:19.900
into clean energy it's
going to take a lot of action

00:09:19.900 --> 00:09:22.603
at the local level,
and we have the power to do it.

00:09:22.836 --> 00:09:23.670
It's really exciting

00:09:23.670 --> 00:09:25.305
to get to be a part
of something like this

00:09:25.305 --> 00:09:28.542
because we really are creating
the future that we want to see

00:09:28.542 --> 00:09:34.081
for ourselves, for our kids
and for the generations to come.

00:10:06.610 --> 00:10:07.912
The whole business of

00:10:07.912 --> 00:10:10.481
competitive advantage
in modern business

00:10:10.481 --> 00:10:12.550
is about talent,

00:10:12.550 --> 00:10:13.984
much more than anything else.

00:10:14.318 --> 00:10:17.755
If you can't attract
the smartest, most

00:10:17.755 --> 00:10:21.458
motivated, most imaginative
and passionate people

00:10:21.859 --> 00:10:24.562
to work for you,
you're going to lose.

00:10:24.562 --> 00:10:26.463
Where do those people go?

00:10:26.463 --> 00:10:29.366
Well, increasingly,
they go to companies

00:10:29.967 --> 00:10:33.571
that are committed to creating
the kind of world we all want,

00:10:33.571 --> 00:10:36.407
and not just raise earnings
per share next quarter.

00:10:36.774 --> 00:10:40.811
And by the way, some of those
passionate young people

00:10:40.811 --> 00:10:44.481
also happen to be the kids
of the corporate executives.

00:10:44.715 --> 00:10:47.985
And you'd be amazed
what influence they can have

00:10:48.319 --> 00:10:50.554
and their friends
can have through them.

00:10:51.121 --> 00:10:55.559
This is a youth driven
revolution in a lot of ways.

00:10:55.559 --> 00:10:59.196
And that's part of why
I'm so excited about

00:10:59.196 --> 00:11:00.831
the likelihood of success.

00:11:02.032 --> 00:11:02.933
The most

00:11:02.933 --> 00:11:05.169
dynamic and powerful force
we have,

00:11:05.769 --> 00:11:10.741
which is the private sector,
not government, is increasingly

00:11:10.741 --> 00:11:12.910
being driven by its workers

00:11:13.611 --> 00:11:16.013
and their needs
for a better world.

00:11:16.747 --> 00:11:20.017
And sitting in boardrooms,
you would be quite

00:11:20.017 --> 00:11:23.287
astonished at how
well that message is starting

00:11:23.287 --> 00:11:26.590
to get through in the companies
that matter most.

00:11:28.192 --> 00:11:30.027
We have reached a tipping point

00:11:30.027 --> 00:11:31.929
overall in corporate America

00:11:31.929 --> 00:11:33.898
and frankly,
global corporations.

00:11:33.898 --> 00:11:38.168
Right now
we've seen over 1700 companies

00:11:38.168 --> 00:11:42.306
declare and align themselves
with climate aligned targets,

00:11:42.306 --> 00:11:44.308
which in and of itself
is important.

00:11:44.308 --> 00:11:48.078
But why they're doing that is
really the fundamental change.

00:11:48.078 --> 00:11:50.114
And what we're
seeing in particular

00:11:50.114 --> 00:11:54.184
is that the next generation
of leaders is deeply attuned to

00:11:54.184 --> 00:11:56.553
and cares very much
about the social stance

00:11:56.553 --> 00:11:58.188
of individual companies

00:11:58.188 --> 00:12:01.792
and isn't willing to sign up
to companies that frankly aren't

00:12:01.792 --> 00:12:03.827
being good
stewards of the environment.

00:12:03.827 --> 00:12:06.163
And so we've seen this shift
at scale.

00:12:06.163 --> 00:12:09.600
We've also seen corporations
respond to the science

00:12:09.600 --> 00:12:13.470
and recognize very clearly
their roles in stewarding

00:12:13.470 --> 00:12:15.039
not just their employees,

00:12:15.039 --> 00:12:18.042
but the natural resources
and the markets that they engage

00:12:18.042 --> 00:12:21.111
in, that their license to
operate is very much dependent

00:12:21.111 --> 00:12:24.615
upon promoting
and creating an environment

00:12:24.615 --> 00:12:27.084
that is supportive
of the natural environment.

00:12:27.084 --> 00:12:30.087
And so we've seen big
shifts happen here.

00:12:30.354 --> 00:12:32.923
We're still at the point of bold
statements

00:12:33.557 --> 00:12:35.426
and beginning follow up.

00:12:35.426 --> 00:12:37.661
Over the next several years,
we need to move

00:12:37.661 --> 00:12:40.431
from that commitment
ultimately to action, though,

00:12:40.431 --> 00:12:43.367
and that's where RMI plays
a very important role,

00:12:43.367 --> 00:12:45.602
coaching and supporting on
what are the first

00:12:45.602 --> 00:12:47.037
and important steps,

00:12:47.037 --> 00:12:48.005
as well as what can

00:12:48.005 --> 00:12:51.375
be anticipated in the long term
and how do you drive

00:12:51.742 --> 00:12:53.010
in the right direction

00:12:53.010 --> 00:12:55.879
at the breakneck speed
that's required here

00:12:56.447 --> 00:12:59.350
in order to make this transition
possible.

00:12:59.350 --> 00:13:03.053
As we think about the drivers
of the overall corporate

00:13:03.053 --> 00:13:05.789
transformation,
certainly employees matter,

00:13:06.056 --> 00:13:09.793
but increasingly now
customer voices at the consumer

00:13:09.793 --> 00:13:14.298
level are starting
to really come en masse and

00:13:14.298 --> 00:13:16.867
hold corporations to account

00:13:16.867 --> 00:13:19.670
through different shareholder
resolutions, through different

00:13:19.670 --> 00:13:23.307
individual expressed preferences
in the market, on social media

00:13:23.307 --> 00:13:24.308
and otherwise.

00:13:24.308 --> 00:13:26.510
We're starting
to see large scale movement.

00:13:26.510 --> 00:13:30.147
That's also precipitated
some of the financiers and banks

00:13:30.514 --> 00:13:31.015
declare

00:13:31.015 --> 00:13:34.952
that they want only to invest
in climate aligned portfolios

00:13:35.252 --> 00:13:39.423
and that's shifting the access
to capital that companies need.

00:13:39.656 --> 00:13:40.391
And so you're getting

00:13:40.391 --> 00:13:44.795
into a virtuous loop here where
we can actually drive ambition

00:13:44.795 --> 00:13:47.831
higher through a combination
of consumer demand,

00:13:48.365 --> 00:13:51.735
corporate commitments
alongside financier

00:13:51.735 --> 00:13:55.472
requirements, that enables
then the policymakers to ensure

00:13:55.472 --> 00:13:56.407
that everyone starts

00:13:56.407 --> 00:13:59.676
complying and allows overall
this transition to happen.

00:14:00.177 --> 00:14:02.379
When we think about the role
of corporations, it's

00:14:02.379 --> 00:14:05.015
incredibly important right now
because these are

00:14:05.015 --> 00:14:09.520
transnational organizations
that with a set policy

00:14:09.520 --> 00:14:12.256
internally can,
you know, really propagate

00:14:12.656 --> 00:14:15.459
whole changes through the global
economy very quickly.

00:14:15.726 --> 00:14:17.861
And so we see them as critical
and harnessing

00:14:17.861 --> 00:14:19.363
their current ambition

00:14:19.363 --> 00:14:21.398
and making sure it's
well-directed

00:14:21.398 --> 00:14:23.400
can lead to global
change faster.

00:14:23.734 --> 00:14:28.839
So we find great hope and also
kindled enthusiasm around

00:14:29.139 --> 00:14:31.041
responding
to the environmental need

00:14:31.041 --> 00:14:32.709
and the shareholder
and stakeholder

00:14:32.709 --> 00:14:35.913
need as being hugely important
for us to make this

00:14:35.913 --> 00:14:37.414
transition quickly.

00:15:09.741 --> 00:15:13.011
Some people suppose that you have to

00:15:13.011 --> 00:15:14.712
 make solar in the desert

00:15:14.712 --> 00:15:17.048
southwest because that's
the sunniest place.

00:15:17.048 --> 00:15:20.718
You have to make wind power
in Montana, Dakotas, Wyoming

00:15:20.718 --> 00:15:21.819
because that's
the windiest place.

00:15:21.819 --> 00:15:24.088
Well, actually, no.

00:15:24.088 --> 00:15:27.759
Why would you want to pay
for all the costs and losses

00:15:27.759 --> 00:15:31.295
of delivering that power from
a plant hundreds of miles away?

00:15:31.963 --> 00:15:33.698
By the time you pay
for the power lines

00:15:33.698 --> 00:15:35.933
you're at least as well off
using middling

00:15:35.933 --> 00:15:38.669
renewable resources
right near the customers.

00:15:38.669 --> 00:15:39.904
Because

00:15:39.904 --> 00:15:43.274
wind power, for example, is now
competitive in every state,

00:15:43.808 --> 00:15:47.412
not only in the windiest ones,
because the towers got taller,

00:15:47.779 --> 00:15:48.813
we got better blades,

00:15:48.813 --> 00:15:51.616
we were able to harvest lower
wind speeds efficiently,

00:15:52.183 --> 00:15:54.719
and those technologies continue
to improve.

00:15:55.253 --> 00:15:57.188
The difference
between the southwest desert

00:15:57.188 --> 00:16:00.091
and the cloudiest parts of the
Northeast is less than two fold,

00:16:00.691 --> 00:16:04.162
and that's less than the
difference in electric prices

00:16:04.162 --> 00:16:06.697
and other things
that affect that decision.

00:16:38.375 --> 00:16:40.477
From 2015 to 2019

00:16:40.477 --> 00:16:43.847
the world together saved energy

00:16:43.847 --> 00:16:47.217
and switched energy to clean sources

00:16:47.984 --> 00:16:51.988
fast enough for a two degree
climate scenario the minimal

00:16:51.988 --> 00:16:55.792
ambition of the Paris Agreement
and half as fast as we need

00:16:55.792 --> 00:16:58.728
for the necessary one
and a half degrees

00:16:59.696 --> 00:17:01.798
that we're now shooting for.

00:17:01.798 --> 00:17:04.467
And I think we'll have to
even do better than that.

00:17:04.467 --> 00:17:05.835
A lot of people
don't realize that

00:17:05.835 --> 00:17:08.405
because many of the datasets
are back to 2010

00:17:08.405 --> 00:17:09.205
and things were slower

00:17:09.205 --> 00:17:10.674
in the first half of the decade,

00:17:10.674 --> 00:17:13.076
but they started accelerating
around 2015

00:17:13.076 --> 00:17:15.578
and I think they're
now accelerating again.

00:17:16.579 --> 00:17:17.847
The climate science

00:17:17.847 --> 00:17:20.317
models have consistently
been conservative

00:17:20.317 --> 00:17:22.319
in understating the speed

00:17:22.319 --> 00:17:24.854
and the runaway
potential of climate change.

00:17:24.854 --> 00:17:28.358
But a lot of the climate models
that still dominate

00:17:28.358 --> 00:17:31.861
the conversation have rather
little energy efficiency.

00:17:32.996 --> 00:17:37.133
I would guess
98 or 99% of the media coverage

00:17:37.133 --> 00:17:39.536
around energy is about supply.

00:17:40.236 --> 00:17:43.139
Mostly
the great progress of renewables

00:17:43.606 --> 00:17:46.276
and their gradual
displacement of fossil fuel.

00:17:47.177 --> 00:17:49.479
But that's just because
you can see renewables.

00:17:49.479 --> 00:17:51.481
They're on the roof.
They're on the skyline.

00:17:51.481 --> 00:17:53.283
But energy is invisible.

00:17:53.283 --> 00:17:55.852
The energy you don't use
is almost unimaginable.

00:17:56.386 --> 00:17:58.822
So what's a good way
to think about efficiency?

00:17:59.622 --> 00:18:02.492
Well, if you add up the energy

00:18:02.492 --> 00:18:06.262
we've saved since 1975
in the United States,

00:18:06.930 --> 00:18:09.699
it's 27 times
as much as the extra

00:18:09.699 --> 00:18:11.067
clean energy we got from all the

00:18:11.067 --> 00:18:13.536
wonderful renewable growth.

00:18:13.536 --> 00:18:15.872
If you care about the efficiency,

00:18:15.872 --> 00:18:19.476
the more practical and visible
it is, the more sense it makes.

00:18:19.476 --> 00:18:21.745
Like your electric bill

00:18:21.745 --> 00:18:23.146
just went down by a third

00:18:23.146 --> 00:18:25.715
because you got some efficient
appliances

00:18:25.715 --> 00:18:28.251
or your house
is a lot more comfortable

00:18:28.251 --> 00:18:31.054
because when you had to reroof,
you went to a light color

00:18:31.054 --> 00:18:32.155
instead of a dark color.

00:18:32.155 --> 00:18:34.224
So you're not a solar
oven anymore.

00:18:35.025 --> 00:18:39.229
Or you're more comfortable
on hot days because you are

00:18:39.229 --> 00:18:40.964
you fixed an awning or you

00:18:40.964 --> 00:18:43.400
you planted
some trees on the sunny side.

00:18:43.933 --> 00:18:45.635
This is not rocket science.

00:18:45.635 --> 00:18:47.996
This is really common sense stuff

00:18:47.997 --> 00:18:49.139
that our grandparents
knew alot about.

00:19:17.976 --> 00:19:20.212
When I think
about the energy transition.

00:19:20.212 --> 00:19:21.513
There are four big things

00:19:21.513 --> 00:19:22.381
that have to happen

00:19:22.381 --> 00:19:24.349
for us to successfully

00:19:24.349 --> 00:19:26.451
split ourselves from carbon.

00:19:26.451 --> 00:19:30.689
The first is we have to
de-carbonize the electricity grid.

00:19:31.857 --> 00:19:34.860
That requires us
to use renewables at scale, but

00:19:34.860 --> 00:19:37.596
also to solve lots of problems
around balancing the grid.

00:19:38.330 --> 00:19:40.732
Once we do that,
we can talk about

00:19:40.732 --> 00:19:43.735
electrifying and decarbonizing
simultaneously.

00:19:43.735 --> 00:19:46.104
And we can do that through
things like electric vehicles.

00:19:46.104 --> 00:19:49.374
We can do that through things
like taking gas out of buildings

00:19:49.374 --> 00:19:51.243
and making all electric
buildings. Right?

00:19:51.243 --> 00:19:55.313
So we don't have to rely on
gas stoves or gas water heaters.

00:19:55.680 --> 00:19:57.215
Third, there are lots of things

00:19:57.215 --> 00:19:59.351
out there
that can't be electrified,

00:19:59.351 --> 00:20:03.188
and we have to find a way
and innovate.

00:20:03.188 --> 00:20:04.523
This is where innovation plays

00:20:04.523 --> 00:20:07.859
a special role, but create
wholly new technologies

00:20:07.859 --> 00:20:11.063
and find ways to unlock hydrogen
as a solution.

00:20:11.063 --> 00:20:15.734
Find ways to scale bio fuels
to a cost and an effectiveness

00:20:15.734 --> 00:20:17.636
level
that allow us to really solve

00:20:17.636 --> 00:20:19.004
all of those other things

00:20:19.004 --> 00:20:22.207
which have a lot to do with
our industry and our production.

00:20:22.974 --> 00:20:26.378
But finally, we're in such
a tough situation right now

00:20:26.378 --> 00:20:29.815
that we can't rely on just
changing the existing economy.

00:20:29.815 --> 00:20:32.384
We actually have to clean
the atmosphere,

00:20:32.384 --> 00:20:33.852
and we have to create

00:20:33.852 --> 00:20:34.453
what are called

00:20:34.453 --> 00:20:37.856
direct air capture or carbon
capture and storage systems

00:20:37.856 --> 00:20:40.125
that actually vacuum
the atmosphere

00:20:40.125 --> 00:20:42.694
and pull carbon out
and put it back underground.

00:20:43.195 --> 00:20:45.063
And if we do
all of those things together

00:20:45.063 --> 00:20:46.665
and we do them all at pace,

00:20:46.665 --> 00:20:49.768
we can rise to the challenge
of our generation,

00:20:49.768 --> 00:20:52.571
of the current moment
of the current decade, which is

00:20:52.571 --> 00:20:56.241
we must halve our overall carbon
emissions by 2030

00:20:56.241 --> 00:21:01.413
enroute to becoming a net
zero global economy by 2050.

00:21:28.208 --> 00:21:32.445
We absolutely have challenges
as a civilization right now.

00:21:32.445 --> 00:21:34.047
And where I find hope

00:21:34.047 --> 00:21:36.282
is in the technology
and innovation

00:21:36.282 --> 00:21:38.084
and the breakthroughs
that I'm seeing

00:21:38.084 --> 00:21:41.788
in the private sector leadership
and the corporate leadership.

00:21:42.489 --> 00:21:46.826
There is an immense opportunity
for us to do this right.

00:21:46.826 --> 00:21:48.061
And if we do this right, we're

00:21:48.061 --> 00:21:50.497
unlocking an entirely new
economy.

00:21:50.497 --> 00:21:54.300
We're talking about $2-3
trillion a year overall globally

00:21:54.300 --> 00:21:57.670
that will be spent
in upgrading our infrastructure

00:21:57.670 --> 00:22:00.540
in ways
that are, yes, more sustainable,

00:22:00.540 --> 00:22:03.977
but also are going to lead
to a better way of life and lead

00:22:03.977 --> 00:22:08.882
to more democratic access
to resources like energy,

00:22:08.882 --> 00:22:10.784
and frankly,
will be more exciting

00:22:10.784 --> 00:22:12.385
if you've driven
an electric vehicle

00:22:12.385 --> 00:22:15.422
you know, it's a lot more fun
than a traditional

00:22:15.422 --> 00:22:18.091
fossil fuel burning
internal combustion engine.

00:22:18.758 --> 00:22:20.093
That's
part of what's going to attract

00:22:20.093 --> 00:22:21.961
people
here, and again, help us lift

00:22:21.961 --> 00:22:25.031
out of the notion
that we're stuck

00:22:25.031 --> 00:22:28.668
in a place where
everything comes at a cost.

00:22:28.668 --> 00:22:30.270
There can be tremendous benefits

00:22:30.270 --> 00:22:32.072
that are unlocked
in the process,

00:22:32.072 --> 00:22:35.508
including new services,
including new innovations

00:22:35.508 --> 00:22:39.012
but also including greater
equity and a greater share

00:22:39.012 --> 00:22:42.348
and distribution for everyone
in the next energy economy,

00:22:42.348 --> 00:22:43.249
which is something

00:22:43.249 --> 00:22:45.418
that's often underplayed.
But solar is

00:22:45.418 --> 00:22:47.987
much more democratically
distributed globally.

00:22:47.987 --> 00:22:49.355
And we can think about

00:22:49.355 --> 00:22:52.258
innovation and small scale
installations happening

00:22:52.258 --> 00:22:56.029
throughout the world
that are led by this revolution,

00:22:56.029 --> 00:23:00.600
that shift the concentration
of power from those countries

00:23:00.600 --> 00:23:05.105
and those companies
that have fossil assets to

00:23:05.105 --> 00:23:08.041
allow energy
and the economy to more freely

00:23:08.041 --> 00:23:12.011
flow from the sky, which is what
we all want to see.

00:23:12.011 --> 00:23:15.482
Amory fantastically said
"If God wanted us

00:23:15.482 --> 00:23:16.783
to have sustainable energy,

00:23:16.783 --> 00:23:19.986
he would have put a fusion
reactor in the sky."

00:23:19.986 --> 00:23:21.321
And that's exactly where we are.

00:23:21.321 --> 00:23:24.090
If we can harness the world's
natural resources

00:23:24.090 --> 00:23:27.627
here, we can actually co-develop
with the environment

00:23:27.627 --> 00:23:29.262
rather than being at odds
with it.

00:23:29.262 --> 00:23:33.133
And the big risk right now
is that we're at such odds

00:23:33.133 --> 00:23:36.102
that we actually crash
different parts

00:23:36.102 --> 00:23:39.539
of the natural ecosystem
in ways that are unrecoverable.

00:23:39.539 --> 00:23:42.242
And that is why speed matters.

00:23:42.242 --> 00:23:45.745
And that is why
when I think about the challenge

00:23:45.745 --> 00:23:49.182
currently, it's about
how do we respond immediately

00:23:49.182 --> 00:23:51.818
to the opportunity
to create this new economy

00:23:51.818 --> 00:23:53.953
and use everything that we can
in terms

00:23:53.953 --> 00:23:55.488
of our innovation toolkit.

00:23:55.488 --> 00:23:57.624
In terms
of our social activation

00:23:57.624 --> 00:24:01.127
to allow this next
energy economy to flourish.