We recognise the science behind climate change as laid out by the United Nations Intergovernmental Panel on Climate Change. IM Power is working on innovative partnerships with technology suppliers and participating in climate change forums that will promote climate action in a sustainable way.
Global climate change has already had observable effects on the environment. Glaciers have shrunk, ice on rivers and lakes is breaking up earlier, plant and animal ranges have shifted and trees are flowering sooner. Effects that scientists had predicted in the past would result from global climate change including loss of sea ice, accelerated sea level rise and longer, more intense heat waves.
Scientists have predicted that global temperatures will continue to rise for decades to come, due to greenhouse gases produced by human activities. The Intergovernmental Panel on Climate Change forecasts that increases in global mean temperature of less than 1.8 to 5.4 degrees Fahrenheit (1 to 3 degrees Celsius) above 1990 levels will produce beneficial impacts in some regions and harmful ones in others. Net annual costs will increase over time as global temperatures increase.
“Taken as a whole, the range of published evidence indicates that the net damage costs of climate change are likely to be significant and to increase over time.”
– Intergovernmental Panel on Climate Change
Using renewable energy from the power sector to reduce emissions is the part of the solution to decarbonising the world economy and opens up entirely new business models for energy providers.
IM Power acknowledges that the issue of climate change poses a serious challenge but may also offer new business opportunities.
IM Power will seek to broaden its activities to include sustainable power generation as part of a mix of technologies to reduce the impact of emissions across a project. This, for example, could include the use of solar energy during daylight with the use of LNG fired power plant over night to achieve a low carbon energy supply.