Tim
Buckley
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World’s biggest Steel manufacturers are committing to Hydrogen and CCS
$7tn investor BlackRock announces Coal divestment, but not across all funds
Coal exit: top Asian banks join Europe, U.S.
From rooftop solar to carbon divestment, California leads the transition
IEEFA: IEA’s Sustainable Development Scenario is not enough
Cheap renewables are transforming the global electricity business
The world’s leading steel makers have announced pledges to reduce emissions, aiming for net-zero by 2050 or sooner. They are committing to various new technologies still not proven at scale: making steel with hydrogen, and some with strategies that include carbon capture. They are putting their money where their mouth is. The list is impressive and includes ArcelorMittal (the world #1), ThyssenKrupp, Voestalpine, SSAB/LKAB/Vattenfall, Nippon … [Read more...]
BlackRock’s decision to divest from coal, as the world's largest asset manager with a long shareholder history of voting against climate action, sends a powerful signal. By mid-2020 BlackRock’s $1.8tn of actively managed funds will divest from any firm generating more than 25% of revenue from thermal coal. Further reviews of sectors heavily reliant on thermal coal will also take place. Tim Buckley, Tom Sanzillo and Melissa Brown at IEEFA welcome … [Read more...]
Around the world, cheaper renewables, improved technology, and risks over reputation, financial performance and the environment are driving finance away from coal. In the early days it sometimes looked like “greenwash”, but over time commitments have ratcheted up to make it a reality. Europe and the U.S. have already made a good start, and Asia is now catching up. As renewables get cheaper nobody wants to be left holding billions in stranded … [Read more...]
California doesn’t wait for Washington. As America’s most populous state by far, it is behaving like a separate nation when it comes to climate policies. Tim Buckley, Director of Energy Finance Studies at IEEFA Australasia, says it has become a global leader in renewable energy. Renewables provided 34% of its total energy needs in 2018, and the business community sees economic success in further progress. The author runs through the highlights, … [Read more...]
The IEA’s Sustainable Development Scenario (SDS) – if it’s followed - sees the world limiting the temperature rise to below 2°C. Even if we stick to the plan the SDS gives us only a 50% chance of success. Tim Buckley at IEEFA says those odds are not good enough. Worse, the SDS depends on carbon capture and storage (CCS) achieving commercialisation at scale by 2030. The author explains why he thinks that’s unrealistic, and calls for the IEA to … [Read more...]
Renewables are not yet the least costly option in every market, writes Tim Buckley, Director of Energy Finance Studies Australasia at the Institute for Energy Economics and Financial Analysis (IEEFA), but the pace of change demonstrates that a tipping point toward a new energy economy is coming, and fast. Article courtesy IEEFA. … [Read more...]
The Chinese wind energy sector is growing at tremendously. China is expected to exceed its 2015 target of 100GW wind capacity by 30%, reports Tim Buckley, Director Energy Finance Studies Australasia at the Institute for Energy Economics and Financial Analysis (IEEFA) for Reneweconomy. At the same time, China is rapidly diversifying away from coal, towards more nuclear, renewables and hydropower. The implications for global energy markets are … [Read more...]
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