Eric: What is “supercharging”?

Corinne: Supercharging is an action plan to accelerate the decarbonization of the global economy. It is based on realistic assumptions about the motivations of individuals, businesses and governments. Serious targets are now embraced by Europe, the United States, China, and India. The goal is to prevent the earth's temperature from rising more than 1.5°C. A huge amount is happening, but the current trajectory of decarbonization falls far short of this ambition. The striking omission is a coherent framework for action. Supercharging is not about targets, but actions. At every point, we ask: What can be done to reduce emissions rapidly, based on a realistic view of how individuals, businesses and politics work? Highly complex global carbon taxes, or trivial advice on lifestyle changes, don't cut it. Taxes which work in the textbook often fail in reality, global lifestyle shifts don't even appear in theory. We need to refocus every area of policy to replicate the extreme successes in pockets of the world where rapid growth in sustainable energy is occurring, and where consumers are voluntarily switching purchasing decisions en masse. There are already successes in parts of China, India, Europe and the United States which prove that we have the technology and the resources to collapse emissions. If these models are replicated, if we supercharge the global economy, we will not only have sustainable economies and cleaner air, there are also very good reasons to believe that we will have higher incomes.

Eric: History shows that technology-led transformation of our economies greatly improves the quality of our lives and our living standards. The green transition should be no different. This is not idealistic. There will be some losers, particularly owners of fossil fuel assets. Fortunately, in most of the world these assets are largely in the hands of three groups: thugocracies, theocracies, and a fraction of the “1 per cent”. The overwhelming majority of the planet need not worry about the value of these assets falling towards zero.

Corinne: In order to supercharge the world, we need a clear diagnosis of the problem, a theory of change, and very smart policies. How would you summarize the problem?

Eric: Climate change is sometimes described as a “wicked problem”.