Planetary Solvency

In this episode of the Climate Emergency Forum, the discussion centers around the concept of “planetary solvency” and a recent report on the subject. Host Herb Simmens introduces the topic, highlighting the report’s emphasis on tipping points and the urgent need for action to mitigate climate risks. Dr. Peter Carter, a renowned expert in climate science, provides critical insights, arguing that the report may be overly optimistic about avoiding insolvency and achieving balance with nature. He emphasizes that the world has been out of balance with nature for decades and that committed global warming is already set to exceed 2.4°C.

This video was recorded on February 26th, 2025, and published on March 9th, 2025, and represents the opinions of the discussion participants.

The conversation delves into the risks associated with climate tipping points, which are now being exceeded at a global temperature of over 1.5°C. Dr. Carter notes that these risks increase exponentially beyond this threshold, underscoring the urgency of reducing emissions. Paul Beckwith, a climate system scientist, joins the discussion, highlighting the potential economic impacts of climate change, including a possible 50% hit to GDP by 2070. He also emphasizes the role of the reinsurance industry in recognizing and addressing climate risks, suggesting that financial sectors may be more receptive to climate warnings than governments.

The dialogue concludes with reflections on the limitations of current climate policies and the need for more drastic measures. Herb Simmens notes the report’s courageous critique of economic projections that underestimate climate risks, comparing them to ignoring the possibility of a ship sinking after hitting an iceberg. The discussion also touches on the potential for geoengineering and solar radiation management as supplementary strategies, given the challenges of relying solely on emission reductions. Overall, the episode provides a stark assessment of the climate emergency and the imperative for immediate, comprehensive action to avoid catastrophic outcomes.

Links:

• Planetary Solvency - finding our balance with nature

• The Looming Threat of Climate Tipping Points (CEF Video)

• Climate tipping points — too risky to bet against

• Red Alert: Planet in Peril (CEF Video)

• Herman Daly

• Global Warming in the Pipeline

• Figure 2.1 from OECD Report on Climate Tipping Points

• Timothy Lenton

• The Acid Test: Global Temperature in 2025

• An Economist’s Dire Forecast About Just How Much Climate Change Will Impact GDP

• About 25% of Puerto Rico remains in the dark after a massive power outage

• Climate Repair Techniques (CEF Video)

• Global Tipping Points – 2025 Conference

• Economic and Cost Analysis for Air Pollution Regulations

Regular Panelists:

• Dr. Peter Carter - MD, Expert IPCC Reviewer and the director of the Climate Emergency Institute

• Paul Beckwith - Climate Systems Scientist. Professor at the University of Ottawa’s Paleoclimatology Laboratory as well as at Carleton University

• Herb Simmens - Author, Co-founder of the Healthy Planet Action Coalition (HPAC), Climate Emergency Board Member and former college instructor.

Video Production:

• Charles Gregoire - Electrical Engineer, Webmaster and IT prime for FacingFuture.Earth & the Climate Emergency Forum; Climate Reality Leader

• Heidi Brault - Climate Reality Leader, BA(Psychology), Library & Information Technician Diploma - Video production and website assistant - Organizer and convener, Metadata technician, COP Team Lead for FacingFuture.Earth and the Climate Emergency Forum.

Attributions:

Background Music:

• Title: Through the City II
• Author: Crowander
• Source: crowander.com

Image and Video:

• Image and Video Attributions