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Caroline Ott ’02 Takes on the Ultimate Race Against Climate Change
THE ARCHIVES Going for the Climate Win
Caroline Ott ’02 takes on the ultimate race against climate change
Caroline Ott ’02 knows about the importance of climate economics and what it will take to avoid the worst impacts of climate change. She also knows how to break it down to help others understand what a global climate finance program looks like on the ground.
As a principal of the Climate Intelligence Program at RMI, a nonprofit organization working to accelerate the transition to clean energy around the world, Ott is spearheading their Carbon Markets and Offsets initiative. A top priority is helping low-income countries afford carbonreducing initiatives. Ott’s daily work centers mostly on meetings and building financial models, but her tenacity and passion for tackling big problems, love for the outdoors, and commitment to helping local communities make her particularly good at what she does. And as an elite trail runner, protecting beautiful places and resources from the substantial threats of climate change also drives her forward. GOVS: Tell us about your expertise in climate finance and your role as Principal for RMI’s Climate Intelligence Program. OTT: I’ve focused my career on climate finance and carbon markets, which are two tools that can help us mitigate and adapt to the impacts of climate change. To avoid the worst impacts of climate change, we need to cut global emissions in half by 2030 and reach net zero emissions by 2050. Today, the energy sector accounts for about seventy-five percent of global emissions. So, if we’re going to achieve these massive cuts in emissions, we need to quickly get our money out of an energy system built on fossil fuels and into one that uses low- or zero-carbon technologies like renewable energy; electric vehicles; low- or zero-carbon steel, cement, aluminum; and alternative fuels. This, in a nutshell, is what we mean when we talk about climate finance.
I helped start our climate finance program, which aims to show that the finance challenge isn’t just about investing in new, clean technologies, but also getting our money out of fossil fuel assets by investing in clean technologies and retiring emissions-intensive technologies. And also improving the efficiency of our resources. We take a “think, do, scale” approach, which means that we first focus on conducting research and analysis, then on piloting or demonstrating clean energy solutions, and finally on getting others to adopt and scale these solutions.
GOVS: What drew you to this work? OTT: I took my first natural resource economics class while studying abroad at the University of Cape Town and I remember being fascinated by this very real-world application of economic theory, especially while living (and running) in a place as beautiful as South Africa. From there, I went on to intern at an environmental consulting firm that was just starting to look into carbon markets under California’s capand-trade program. I did a bunch of research that summer on carbon markets, ended up writing my economic thesis on the topic, and then took a job out of college working as a carbon markets analyst. I’ve been working in the space ever since. It’s also worth mentioning that as a runner, and like so many people working on the climate crisis, I have a huge appreciation for the outdoors. I am motivated to do what I can to protect these special places and the people who rely on them. GOVS: What do you see as the major roadblocks to averting the impending (and accelerating) ravages of climate change? OTT: Where to start! If I had to pick one roadblock, I would say that we don’t currently have the incentives required to shift to a clean energy economy. One of the simplest (but certainly not easiest) fixes would be to put a price on carbon; several countries and states around the world have done so, but we’re still far from having a global
price on carbon. And there remains entrenched political interest in the fossil fuel industry. For wealthier countries, a lot of the conversation is around reducing emissions from the stuff we’ve already built or already own. In the developing world, however, there’s much more focus on making sure that new buildings, new power systems, new modes of transport produce as few emissions as possible. We already have the technologies we need to cut global emissions in half over the next decade, and many of these technologies (particularly renewable energy) are already cost-competitive. GOVS: Are you optimistic about our ability to change quickly enough to mitigate the worst effects of climate change? OTT: We’re already seeing devasting impacts of climate change. The increasing intensity and frequency of extreme weather events (flooding, droughts, wildfire, sea-level rise) have already caused more than twenty million people to permanently leave their homes over the past decade. And since greenhouse gas emissions cause warming over a period of decades (i.e., carbon dioxide emitted today will still be warming the planet decades from now), these extreme weather events are going to get worse before they get better. That’s my pretty grim answer. However, I am incredibly optimistic about the technical capacity to avert the worst impacts of climate change, which scientists predict will occur once we exceed 1.5 degrees of warming above pre-industrial levels (for reference, we’re currently at about 1.1 degrees). We already have the technologies we need to slash emissions in the coming decade, and potentially, even get us to a state where we are removing more carbon from the atmosphere than we are emitting. The climate space has absolutely exploded in the past few years, and I am continuously amazed by the number and caliber of people devoting themselves to the climate crisis.
GOVS: Thanks to a tip-off from your former teacher and cross country coach at Govs, David Abusamra P’93, Faculty Emeritus, we learned about your recent race achievements of the Tour du Mont Blanc (105 miles; nearly 40,000 feet of ascent, three countries, seven days, and thirty hours of total running), a 50K trail race, and the Moab Trail Marathon. Tell us about your passion for running and how you train for such challenging races. OTT: I remember running a 5K with my dad the summer before my freshman year at Govs and telling him at mile 2.5 that I never wanted to run again. He told me that we could talk about it once I finished the race. I hobbled across the finish line, too tired and annoyed at that point to have any sort of discussion about how much I hated the experience. Fast forward a few weeks, and I was ecstatic to have (barely) made the varsity cross-country team at Govs. Fast forward four years and I would tell you that the cross-country team was my favorite part of high school. And fast forward another fifteen years or so, and I would tell you that I’ve become totally addicted to running over the years and I rarely skip a day of running. Running gives me energy, helps me process what’s going on in my day, helps me get my bearings in a new place, and enables me to eat a whole lot! I also love the community around running— starting at Govs, many of my closest friends have been runners. I often think there’s something a little wrong with all of us, but that shared love for something so challenging creates a pretty amazing community. That, plus the rush of endorphins and the post-run beer. GOVS: As a student at Govs, you excelled academically and in sports. Was there a person or experience during that time that has stayed with you or shaped your life in some way? OTT: GDA was a special place, and I’ve reflected over the years on how incredibly lucky I was to have this high school experience. I was a bit intense as a child (my parents used to pay me to get bad grades in an attempt to loosen me up), but I became much more relaxed and balanced at Govs— largely due to the amazing support the school provided. I think that Govs also engrained in me the value of being “well-rounded,” which has really pushed me to explore a wide diversity of passions, skills, and experiences. Running with David (Abu) Abusamra (a former teacher and coach at Govs) and the girls’ cross-country team will absolutely stay with me for the rest of my life. Two of my closest friends to this day are from the cross-country team, and Abu is still the first person I call or write to after a race. My life would not be the same without running, and I would not be a runner without the team and Abu.
Abusamra remembers Ott’s contributions to the classroom and the playing fields:
“As a student, athlete, and leader, Caroline’s desire to improve, her consistency and conscientious approach, depth of understanding, and tenacity often stood out from that of her peers. As a tri-captain of her cross-country team, she trained hard even during the off-season in order to fully support her team, especially new members. She defined for them, on a daily basis, what it means to be a supremely hard worker—one who never gives up.” In an interview with a Boston Globe columnist who interviewed the girls cross-country team in Ott’s senior year, she was quoted as saying: “We run for the team, for the people, and for the challenge … it’s the most challenging thing I’ve ever done. The physical pain you feel makes you stronger mentally in all aspects of your life.”
