CSR Mercuria 2019 - Flipbook - Page 18
Interview published in Le Temps on March 5th 2020 in French, Free English Translation
There is no longer any doubt that this warming is caused by
humans. And one would have to be blind not to realize that
this is an extremely important problem.
On February 17, a hundred activists from the
Extinction Rebellion movement targeted trading companies, including Mercuria. You, whose
past history as a former anti-nuclear activist is
known, what do you say to them?
Let me first give the context. Over the past fifty
years, the temperature has risen 1.5 degrees on
land and 1 degree at sea. There is no longer any
doubt that this warming is caused by humans.
And one would have to be blind not to realize
that this is an extremely important problem. The
planet has emitted 2,200 billion tonnes of CO2
since there are human beings and, according
to calculations, we can still afford to emit 700
billion before the situation becomes truly catastrophic. As we emit 42 billion per year, that
leaves us fifteen and twenty years to go to zero
emission. At the same time, 80% of the energy
used today comes from fossil fuels and by 2050
there should be 9.7 billion people on the planet,
almost 2 billion more. An American consumes
12 megawatt hours per year of energy. A little
less European. A Chinese 4.5, an Indian 1.1, an
African 0.5 and the latter will have to consume
more to improve their economic well-being. This
is the equation we face.
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Is it only possible to solve it?
I’m sure. According to the International Energy
Agency , CO2 emissions represented 33 gigatonnes in 2019, a stabilization compared to
2018. Is this an exception or the beginning of
a trend? There are different ways to reduce carbon in the atmosphere, but it requires big investments. Germany invested $ 85 billion between
2012 and 2016 in renewables but reduced its
carbon intensity by only 4%.
What are the solutions?
Hydrogen, solar, wind… There must be a gradual transition and the means to achieve it will
be multiple. Coal produces 900 kg of CO2 emissions per megawatt hour. A figure that goes to
560 for oil and 365 for gas, which is also cheaper. It is therefore necessary to bet on gas, while
waiting for renewable energies. This is doable,
according to a report entitled “Mission Possible” from the Energy Transitions Commission
in London. A key factor is the price of carbon,
which varies from country to country. In Europe,
it went from 5 dollars to 25 dollars per ton. The
interesting thing is that if we set it at $ 80 tomor-
