Is the Climate Crisis Really a Crisis?

Is the climate crisis really a crisis?

Unfortunately, yes. In fact, we are currently living through humanity’s sixth extinction event. It’s underway as we speak.

The most populous states of Australia are on fire: New South Wales (home to Sydney) and Victoria (home to Melbourne). The fires cover an area as large as Massachusetts and New Hampshire combined, and the biggest fire covers 2,300 square miles (about twice as large as Rhode Island). A billion animals have died and almost 3,000 homes have been damaged. What is even more worrisome is that the summer season is only just getting started in Australia — the hottest months are usually January and February.

Indonesia’s capital Jakarta, home to more than 30 million people, is flooding. In the latest series of flash floods, at least 43 people have died, and nearly 400,000 people have lost their homes. The damage is so severe that the government has officially announced plans to relocate the entire capital to Borneo.

These are only the most notable cases — we can see similar effects of the climate crisis across the globe, including in the United States. The past few years have seen devastating wildfires become the norm in California. Communities near New Orleans have been relocated because the consistent flooding has made living in them impossible. Every year, we are observing new record high temperatures across the globe.

And at current emission rates, all these life-shattering effects will only get worse. Right now, the effects we see are a consequence of global temperatures having risen 1.1° C. However, 1.5° C is the threshold that scientists are most concerned about. They predict that the following will happen at this level:

• Over 70% of coral reefs will die, destroying the habitats of many marine species and endangering the food chain.
• Insects will lose 50% of their habitat, making pollination and thus agriculture exceedingly difficult.
• 6 million people will see their communities flooded.
• Widespread food shortages and droughts will trigger a global food crisis.

The United Nations has stated that we only have this decade, 2020–2030, to prevent the worst consequences of climate change. We must reduce carbon emissions by 7.6% every year and by 50% over the next 10 years. In order to meet this goal, the current emission reduction commitments from national governments must multiply fivefold. The climate crisis is an existential crisis for humanity, and we need drastic action: from governments, from communities, and from people.

Our team, a group of young professionals from the tech and energy industries, saw this urgent need and wanted to do something about it. That’s why we founded Terra2.

At Terra2, our mission is to expand access to renewable energy investment opportunities for all people. We believe that the impact an average person can have on emissions reductions has been limited due to a lack of opportunity. Not everyone can afford to buy solar panels or has a place to put them.

Using our platform, accredited and unaccredited investors alike will be able to invest directly in solar farms with as little as $1000*. Increased access to financing will help developers build more and more solar farms, thereby accelerating our transition to a completely renewable future so that we can meet our emission reduction targets. Moreover, we project that our solar assets will be attractive long-term investments that offer stable cash flows years into the future. Investing directly in solar farms can therefore offer an avenue for people to preserve and grow their wealth as well as fight climate change.

We at Terra2 believe that while governments and corporations must take drastic action, they are not alone in their responsibility. We the people must act to address the impending climate catastrophe. Together, our collective impact can make a real difference in the fight against climate change while democratizing the energy sector. It’s time to rise up to the challenge and fight big oil directly.

*subject to change

Sources

https://www.npr.org/2020/01/10/795169417/enormous-mega-fire-in-australia-engulfs-1-5-million-acres

https://www.nytimes.com/2020/01/02/world/asia/indonesia-jakarta-rain-floods.html

https://www.unenvironment.org/interactive/emissions-gap-report/2019/