Navigating systemic risks in low-carbon energy transitions in an era of global polycrisis

Abstract

Abstract Non-technical summary Accelerating global systemic risks impel as well as threaten low-carbon energy transitions. Polycrises can undermine low-carbon transitions, and the breakdown of low-carbon energy transitions has the potential to intensify polycrises. Identifying the systemic risks facing low-carbon transitions is critical, as is studying what systemic risks could be exacerbated by energy transitions. Given the urgency and scale of the required technological and institutional changes, integrated and interdisciplinary approaches are essential to determine how low-carbon transitions can mitigate, rather than amplify polycrisis. If done deliberately and through deliberation, low-carbon transitions could spearhead the integrative tools, methods, and strategies required to address the broader polycrisis. Technical summary The urgent need to address accelerating global systemic risks impels low-carbon energy transitions, but these same risks also pose a threat. This briefing discusses factors influencing the stability and resilience of low-carbon energy transitions over extended time-frames, necessitating a multidisciplinary approach. The collapse of these transitions could exacerbate the polycrisis, making it crucial to identify and understand the systemic risks low-carbon transitions face. Key questions addressed include: What are the systemic risks confronting low-carbon transitions? Given the unprecedented urgency and scale of required technological and institutional changes, how can low-carbon transitions mitigate, rather than amplify, global systemic risks? The article describes the role of well-designed climate policies in fostering positive outcomes, achieving political consensus, integrating fiscal and social policies, and managing new risks such as those posed by climate engineering. It emphasizes the importance of long-term strategic planning, interdisciplinary research, and inclusive decision-making. Ultimately, successful low-carbon transitions can provide tools and methods to address broader global challenges, ensuring a sustainable and equitable future amidst a backdrop of complex global interdependencies. Social media summary Low-carbon energy transitions must be approached so as to lower the risks of global polycrisis across systems.

Keywords

• climate action
• energy transition
• net zero
• polycrisis
• systemic risks