IPCC Report: Climate Change Is a Generational Justice Issue
Originally published by Union of Concerned Scientists, The Equation.
By Christina Swanson
How many times have we said this before? The Intergovernmental Panel on Climate Change’s (IPCC) new report, its sixth since 1990, is a “wake-up call.”
The report, authored by more than 200 scientists from across the globe and based on more than 14,000 individual studies, is a comprehensive synthesis of the latest science on the changing state of our climate system. It concludes that it is “unequivocal” that climate change is being caused by human activities, primarily the burning of coal, oil, and gas. Yet, California, a state known for its progressive climate stance, just approved 40,000 new oil wells in Kern County, an area already littered with tens of thousands existing wells and among the most polluted regions in the state.
The IPCC reports that now, decades after scientists’ first warnings, our actions have pushed our climate into an “unprecedented” state. The increase in temperature measured since 1970, when I was a young teenager, is faster than for any other 50-year period going back at least 2000 years.
”It finds that virtually every child on the planet is exposed to at least one climate or environmental hazard right now.”
Adriana Calderón, Farzana Faruk Jhumu, Eric Njuguna and me write in NYT as @UNICEF publish their Children’s Climate Risk Index.https://t.co/J1fc9ZCLMW
— Greta Thunberg (@GretaThunberg) August 20, 2021
The IPCC’s report provides graphic descriptions of the human, ecological, and financial costs that we are already paying for climate driven heat waves, droughts, floods, and fires, and which will be worse in the future. According to the report, these types of climate and weather extremes are already affecting every inhabited region of the globe. As I write this, my drought-parched state, California, is burning again, with the Dixie fire consuming nearly 600,000 acres (almost 900 square miles!), destroying whole towns, and forcing thousands to evacuate.
And the IPCC sounds an urgent call for action, warning that we have very little time left if we are to limit global warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) and avoid the worst, most catastrophic, and irreversible impacts of climate change. Global temperatures have already risen by an average of 1.1 degrees Celsius.
Reading the report, it is painfully clear that, by our ongoing societal failure to act on our knowledge to slow and reverse climate change, we are not only bringing disasters down upon ourselves, we are jeopardizing our children’s future.
This basically sums up our current situation. The “code red” IPCC report came out a week ago. Since then not one politician has been held accountable. Not one politician has been asked how they are going to act in line with this. 1/4
(Graph by @Peters_Glen ) pic.twitter.com/1r4vljDzJw— Greta Thunberg (@GretaThunberg) August 16, 2021
Climate change is not just an environmental problem that is damaging ecosystems, harming, displacing, and killing people, and driving species toward extinction on land and sea. It is not just an environmental justice problem that is inflicting disproportionate harm on marginalized and vulnerable communities, countries, and regions of the globe. Climate change, and its resultant and escalating environmental, social, and economic harms and costs, is a generational justice problem that my generation — and the nearly 70% of the total cumulative emissions that were generated during my lifetime — is dumping on our children and future generations. That’s not right.
But the report also tells us that there is hope and a path — a very slim and very challenging path — for us to reduce our carbon pollution enough to limit global warming to that critical 1.5 degrees Celsius threshold.
We know, and in fact we have known for decades what we need to do: replace coal, oil, and gas with clean energy alternatives for electricity, transportation, industry, and buildings; change the ways we use land and produce food to protect and regenerate the natural systems, like forests and wetlands, that absorb carbon dioxide; and, because climate impacts are already upon us, we need to change how and where we build, work, and live to adapt to survive our changing climate.
All of these changes are well understood and feasible, some are already in progress, and most of them will provide social and environmental benefits beyond their positive climate effects, like improved health from less air pollution. So why are we failing?
One simplistic answer is that change is hard and often slow because the societies and systems in which we live have the tendency for inertia. At a time when we need different and difficult decisions, by governments, by industries and businesses, by the finance and investment sector, by communities, and by individuals, we are instead intentionally framing and grounding our expectations, planning, and decisions in the context of the status quo, the way things are and have been and in pursuit of short-term outcomes.
And so, informed by the IPCC report, motivated by our own self-interest, and inspired by our moral and ethical responsibilities to our children and future generations, here is one approach that we can take to help guide and facilitate those different and difficult decisions. Rather than making decisions based on the status quo, we could instead evaluate our options and make decisions based on the future and what we want that future to be. For every proposal for a new oil well, pipeline or power plant, or for an expanded highway, urban development, or logging plan, we should be asking “Is this project consistent with the characteristics and constraints of a world in which we meet our climate goal and limit global warming to 1.5 degrees Celsius?” If it’s not, we shouldn’t do it.
“We do not inherit the Earth from our ancestors; we borrow it from our children.”
This quote is perhaps overused by many of us in the environmental community, but it has always been one of my favorites. It resonates with my deep personal connection with nature, my training as a biologist, and my commitment to apply my professional efforts and talents to better protect our planet. But, with each passing year, as I have watched with joy and pride the next generation of my family grow to adulthood, it feels gloomier and more ominous, an accusation rather than inspirational rallying cry.
The new IPCC report is telling us — again — that we are trashing the planet we have borrowed from our children. We know we are doing it, we know what we need to do to stop it, and we don’t have much time left before the damage becomes catastrophic and irreversible. We are all responsible. We all have the responsibility to act. Most importantly (and most impactfully), policymakers at all levels of government, but especially those in Washington, must take decisive steps to confront the climate crisis. Not next year: now. And that means Congress should advance President Biden’s Build Back Better agenda, which weds an equitable recovery from the pandemic-drive downturn with the climate action we need now.
So please, let’s all of us wake up and get to work.
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the potential end of Rad Power Bikes, Tern’s new belt-drive Vektron, a semi-solid-state e-bike battery coming soon on a production e-bike, ALSO drops price on its entry-level model, a tilting flat-bed electric trike/truck, and more.
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For most of human history, currency was a direct claim on tangible, productive output. Before the abstraction of government fiat or cryptocurrency, value was stored in things that required real work and resources, bushels of grain, livestock, gold, assets with their own direct productive output: horses, and tragically, slaves.
These were the foundational assets of economies, representing a direct link between labor, resources, and stored value.
As we accelerate into an all-electric, all-digital age, this fundamental link is re-emerging, but with a new unit of account. The 21st-century economy, defined by automated industry, robotic, electric transport, and now power-hungry artificial intelligence, runs on a single, non-negotiable input: electricity. In this new paradigm, the real base currency, the ultimate representation of productive capacity, is the kilowatt-hour (kWh).
The kWh is the new economic base layer.
Last week, I was in Bijiashan Park at night overlooking Shenzhen, arguably the most technologically advanced city on earth, built over the previous few decades, partly on cheap electricity, cheap labor, and manufacturing innovations.
I could see the giant high-voltage power lines coming over Yinhu Mountain to power the constant light show that is Shenzhen at night. I couldn’t help but think about how cheap electricity and a strong grid have been critical to China’s exceptional economic rise.
As you stroll around the city, you see power everywhere. There are charging stations at every corner, including insane 1 MW charging posts, electric cars and trucks, trucks that carry batteries to electric scooter shops, which are also literally everywhere.
Everything moves on electric power. Industries are powered by electricity, and now, with the advent of AI, virtually everything is increasingly processed by LLMs, which are ultimately powered by electricity through power-hungry data centers.
In a world where everything runs on electricity, electricity itself becomes the currency of civilization.
It is measurable, divisible, storable, and universal – all qualities that a currency needs, but unlike fiat and crypto, it’s actually directly linked to productive output. No politics. No inflation. Just physics.
This concept is not merely academic; it appears to be the quiet, guiding principle in China. While others debate the merits of decentralized digital tokens, China is executing a multi-pronged strategy that treats electricity as the foundational strategic asset it has become.
First, China is building the “mint” for this new currency at an incredible, world-changing scale, and it has retained absolute state control over its distribution. Its deployment of new electricity generation, particularly from renewables, is staggering. The country met its 2030 target of 1,200 gigawatts of renewable capacity five years early, in 2025.
In 2024 alone, renewable energy accounted for a record 56% of the nation’s total installed capacity, with clean generation meeting 84% of all new demand.
Here’s a comparison of electricity generation between China and the US:
If this chart doesn’t scare the West. I don’t know what will. The trend is not reversing any time soon. In fact, it appears to be accelerating as China is doubling down on solar and nuclear.
State-owned monoliths manage this entire system, primarily the State Grid Corporation of China (SGCC), the world’s largest utility. For better or worse, this centralized control allows the state to execute massive national strategies impossible in a liberalized market, such as building an Ultra-High-Voltage (UHV) grid to transmit power from remote solar and wind farms in the west to the power-hungry industrial hubs on its coast.
Second, China wields its control over the grid as a precision tool of industrial policy. China’s average electricity rate of $0.084/kWh is cheaper than most of the rest of the world, but its power lies not in the base price but in its strategic application. The government deploys a “Differential Electricity Pricing” policy: a “stick” that penalizes low-tech, high-consumption industries with higher rates, and a “carrot” that provides preferential pricing to incentivize strategic sectors.
The most potent example is in the AI sector. China is now offering massive electricity subsidies, cutting power bills by up to half, for data centers run by giants like Alibaba and Tencent. The condition for this cheap power is that these companies must use locally-made, Chinese AI chips, such as those from Huawei.
China is spending its “electricity currency” to directly fund the growth of its domestic AI chip industry and sever its dependence on foreign technology. This same logic applies to its global dominance in green tech, where state-subsidized firms like BYD benefit from a state-controlled industrial ecosystem built on reliable, managed power.
Third, and possibly the most explicit exemplification of China viewing electricity as the base currency is its moves against cryptocurrency.
In 2021, the government banned all cryptocurrency transactions and mining. While the official reasons cited financial stability, the move might have had a deeper, strategic intention.
From the state’s perspective, it was a tool for capital flight, allowing wealth to bypass government controls. But in a world where electricity rules, cryptocurrencies are, in effect, a competing “currency” that burns the foundational asset (electricity) to create a decentralized store of value.
By banning crypto, China simultaneously reclaimed its monopoly on economic control and shut down a massive, “wasteful” leak of its most precious resource. It freed up that generating capacity to be strategically allocated to its preferred industries, like AI and manufacturing.
China’s actions, viewed together, are a clear and coherent strategy. By massively investing in and securing total state control over its domestic electricity supply (the “mint”), using its price as a tool to fuel strategic industries, and banning decentralized competitors that consume the same resource, China is making a clear bet. It has been recognized that in an age where all productivity is powered by the grid, the ultimate source of national power is not gold, fiat, or crypto, but the state-controlled kilowatt-hour.
The Blockchain and Crypto: Ledger vs. Furnace
This perspective brings a critical nuance to the role of blockchain technology. In an economy where electricity is the base currency, the blockchain makes perfect sense, but only as a ledger, not as a store of value.
A distributed ledger is the ideal technological layer to act as the accounting system for this new economy. It can track the generation, transmission, and consumption of every kilowatt-hour with perfect transparency. It can automate complex industrial contracts and manage the grid’s load balancing without a central intermediary. In this sense, blockchain is the “banking software” for the electricity standard.
However, “Proof of Work” cryptocurrencies like Bitcoin face a fatal contradiction within this paradigm. They aim to serve as a store of value by burning the base currency (electricity) to secure the network. If the kilowatt-hour is the 21st-century equivalent of gold, then Bitcoin mining is akin to melting down gold bars to print a paper receipt. It destroys the productive asset to create a derivative token.
Bitcoin is quickly losing credibility as a classical safe store of value. It trades like a security, at least over the last year, and its value is only whatever the next moron is willing to pay, with no valuable asset behind it.
China’s strategy reflects this precise understanding. While they ruthlessly banned Bitcoin mining (the “furnace” that wastes the asset), they have simultaneously championed the Blockchain-based Service Network (BSN) and the Digital Yuan. They have embraced the ledger to track and control their energy economy, while rejecting the supposed asset that destroys it.
This is a trap that crypto fans often fall into. They recognize the value of the blockchain, which is real, but they mistakenly broadly assign the same value to cryptocurrency, which is simply an application of the blockchain.
Electrek’s Take
What I’m trying to explore in this op-ed is the idea that if the present is electric and the future is even more electric, then it makes sense for electricity to be the foundation of the economy.
If electricity is the backbone of global trade and the metric of productivity, the kWh ultimately becomes the real currency of a truly electrified world.
And I think China has figured this out, as evidenced by its new electricity generation surpassing the rest of the world combined and by its ban on cryptocurrency.
They are going to let the rest of the world hold the crypto bag while they have more electricity generation than anyone to power their industries, which are already taking over the world.
I think the rest of the world should learn from this. Instead of pouring capital into meme coins and made-up stores of value, we should invest in electricity generation and storage.
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