Sara Stefanini provides a written summary of our panel discussion held on 31st March 2022, “Options to Reform the EU ETS”. It’s a full summary of the 90 minute discussion (with a link to the video), but it begins conveniently with a summary of the highlights, leading with the role of financial players, who they are, the causes of price volatility, what reforms can create stability, and the cost of decarbonisation. The main concern is speculation … [Read more...]
Energy Charter Treaty: four ways to amend it and enable green investments
The European Green Deal (EGD) aims to mobilise at least €1 trillion in sustainable investments over the next decade. But the Energy Charter Treaty (ECT) in its current form - designed to protect cross-border investments, enabling those whose energy projects have been shut down to sue nations – is causing fierce debate. The ECT protects all investment alike, but the result has been fossil (and nuclear) investors suing nations that have curtailed … [Read more...]
Russia-Ukraine crisis: reforming the EU ETS is a matter of energy security, says PGE
European leaders are now rushing to make decisions on how to drastically cut dependence on Russian fossil energy imports. Russia’s invasion of Ukraine has exposed Europe’s energy security vulnerabilities like nothing else could have. It also means Europe’s clean energy transition will need an overhaul, and a newly designed optimal pathway created, and fast. Wojciech DÄ…browski, President at PGE Polska Grupa Energetyczna, explains that it must also … [Read more...]
Reducing Europe’s dependence on Russian Oil and Gas: immediate, short and long term strategy
Atlantic Council Global Energy Center experts and associates offer their template for drastically reducing Europe’s dependence on Russian oil and gas. It’s broken down into immediate, short (one to three years) and long term (beyond three years) actions. It’s wide-ranging and comprehensive. Some actions are already in play, including maximising gas storage, ready for next winter. Some are the ramping up of existing plans (clean energy, … [Read more...]
IPCC Report on Adaptation: a rapidly closing policy window for climate change action
We do not know how successful we will be at cutting emissions. So “adaptation” is how we change our behaviour, economies, infrastructure and planning to cope with the consequences of climate change. The IPCC’s 6th and latest report looks at the scientific evidence of climate risk and the adaptation solutions being pursued around the world. Alexandre Magnan at IDDRI summarises the findings. It says that by 2100 climate risk will increase two- to … [Read more...]
Open-source modelling for the energy transition and climate change
Modelling tools are becoming increasingly important to policy makers for creating transition pathways. More detail is required as the pace of change accelerates. Yet complexity is increasing as new technologies and solutions come online. And those models are needed at the local level, not just the national and global. It’s why the EU is funding, through Horizon 2020, a range of projects to not only make those tools a success, but make them freely … [Read more...]
What’s your average lifetime CO2 footprint by year of birth, to achieve net-zero by 2050?
To reach net zero by 2050, babies born today must have CO2 footprints ten times smaller over their lifetimes than their parents and grandparents. In rich countries it’ll be fifteen times, while in emerging economies like India and China it’ll be around four times smaller. Laura Cozzi, Olivia Chen and Hyeji Kim at the IEA summarise how they have calculated the average allowable lifetime CO2 footprint by year of birth. Taking the two extremes, the … [Read more...]
District Heating Roundtable: Policy across RED, EED and EPBD “must take account of conditions in all Member States”
Sara Stefanini provides a written summary of our panel discussion held on 10th February: District Heating under the "Fit for 55" package: challenges and opportunities. Under the “Fit for 55” package, the EC proposed several regulatory changes that, combined, are meant to decarbonise district heating in Europe. But are these options workable for all? The participants raise questions over the support for district heating, whether the multiple … [Read more...]
Critical Raw Materials for the energy transition: Europe must start mining again
A ramp up of the supply of critical raw materials (CRMs) is essential for the world’s energy transition. Wind and solar, batteries, digitalisation, transport and hydrogen cannot meet their targets without it. The EU defines 30 minerals as critical. To give one example, the global deficits in lithium supplies could surge more than 60-fold to 950,000 tons by 2030. Frank Umbach at EUCERS takes a thorough look at the issue. Europe represented just 5% … [Read more...]
Can Carbon Offset loopholes be fixed with better evaluation and rules?
Carbon offset programmes rightly get a lot of criticism. There’s plenty of evidence of offsets not delivering all the GHG emissions reductions they are credited for. Though still on the international agenda, should they be ditched? Or can they be improved with better analysis and evaluation, and making that a pre-condition for creating carbon offset credits, asks Meredith Fowlie at the Energy Institute at Haas. She starts by looking at those … [Read more...]
Net-Zero world: calculating the cost of stranded assets, including wrong-skilled “human capital”
Most calculations of the costs of stranded assets abandoned and replaced by the net-zero economy have been missing the biggest element: human capital. It’s not sufficient just to total up the assets and supporting infrastructure for coal, gas, old-style buildings, machines, vehicles, etc., says Dan Chester at Lancaster University and co-author of the paper “Stranded Human and Produced Capital in a Net-Zero Transition”. Worker output is not only … [Read more...]
COP26 accepted the science like never before. It should make a difference
Leading scientists, writing for Carbon Brief, explain how COP26 gave far greater recognition to science than any of the previous COPs. The scientific evidence from the latest IPCC reports was explicitly acknowledged in the Glasgow Climate Pact. That is a significant advance, say the authors. Decision-making guided by science can focus quantitively on carbon budgets, temperatures, climate change, the causes, and therefore the emissions-reductions … [Read more...]
Paris Agreement “Global Stocktake” should focus on individual nations too
It’s time for national governments to focus on the short-term domestic actions needed to meet their 1.5°C goals, argue Anna PĂ©rez CatalĂ , Henri Waisman, Marta Torres Gunfaus and Ariadna Anisimov at IDDRI. Analyses of emissions gaps at a collective and global level won’t be enough, the current purpose of the Global Stocktake (GST) of the Paris Agreement. The first GST runs from 2021 to 2023 and the process will be repeated every 5 years. The … [Read more...]
COP26 and the Glasgow Pact: a summary of achievements, and shortfalls
Experts from around the world summarise their reaction to the outcomes of this year’s UN climate summit, COP26, including the Glasgow Climate Pact agreed by all 197 countries attending the talks. Each expert covers their area of interest: overall targets, greenhouse gas emissions, fossil fuel finance, nature conservation, transportation, cities and buildings, energy sector transitions, science and innovation, and gender equality. The overall … [Read more...]
Politicians need net-zero scenarios that include socio-economic obstacles and solutions
Standard net-zero scenario modelling carefully analyses the possible impacts of technological solutions and their obstacles. What they’re missing is the detailed analysis of the socio-economic impacts of these scenarios on the lives of citizens. That means jobs, incomes, energy bills, air quality, and regional economic performance. In other words, the politics on the ground. Misunderstood, and perfectly sensible pathways will come up against … [Read more...]
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