The world must avoid the pitfalls of both "complacent optimism" and "fatalistic pessimism" when it comes to climate action, said Singapore President Tharman Shanmugaratnam.

He was giving a speech on the sidelines of the Ecosperity Week 2024 conference which was held at the Sands Expo and Convention Centre on Apr. 15.

Avoid despair and over-optimism

Tharman first acknowledged how far world leaders have come in terms of climate action.

"It's not often recognised that we've made very significant progress from where we were before in Paris in 2015 to COP28 last year," said Tharman.

Companies and governments, or even states within countries which deny climate change, have made progress in their thinking and actions.

But while the glass is half full, it is "only half full".

The reality, he said, is that societies and politics around the world are tempted to postpone action, hoping that things will get better, or that public support for government actions will get stronger in the future.

On the other hand, conversations about the climate change can also drive people to despair.

It is talked about as a pending "catastrophe", in hopes that it will shock or scare people into action.

Both of these tendencies breed inaction and leads to "lying flat", noted Tharman.

"We have to be unsettled enough to want to engage with some boldness and some urgency, purposeful action. [...] That should be our orientation."

World is on the path to an unjust transition

Tharman also highlighted that "transition paths" are critical, in addition to the setting of distant goals on when we achieve net zero (carbon emissions).

At present, the world is "very far" from where we have to be in closing the gap between commitments and action.

On current projections, current policies, current actions by the corporate sector, the world is going to achieve just five per cent of the reduction in carbon emissions that countries need to achieve by 2030 to reach net zero in 2050.

Just five per cent, he stressed.

It is also not a question of whether or not countries achieve transition, but a choice between an orderly transition where there is equitable and fair sharing of the burden, and a disorderly transition that is "most unjust".

The world is currently on the path to an "extremely disorderly" transition post-2030, he asserted.

He also pointed out that our best climate models are "very likely" underestimating the scale of global warming that is going to take place, as we do not have enough data to model extremities or what happens when the planet crosses tipping points.

Despite this, we know that the risk is in one direction. He said: "It's only a question of how serious the downside risk is."

Transition paths have to be taken seriously, as to "not risk crossing the tipping points, every 10th of a percentage point, every 0.1°C counts."

Efforts towards net zero provide benefits today

On a more positive note, Tharman described climate action as "a massive opportunity".

While trillions of dollars have been necessary for the world to achieve net zero, he believes that this is not a cost, but rather an "investment for growth, jobs and an inclusive future".

"The world has not seen for a very long time the opportunity to boost growth and jobs and to spur the development path for more than half of humanity.

We've just never seen that opportunity and we now have this opportunity."

Mitigation and adaptation is not just a "a cost you pay today to avoid some painful cost in the future", but also a benefit for people today, he stated.

It has the potential to create jobs, provide cleaner air, improve crop yields and boost farmers’ incomes.

People today benefit from some protection from the extreme events that are now part and parcel of the world, like massive floods, the droughts, and heat waves.

He ended his speech by saying:

"So, it is a glass half full, and we actually know how to fill it up. [...] It does require collaboration across every sector and collaboration globally. And I believe we can achieve it."

Top images via Ecosperity.