To pile on the pressure over climate negotiations, the UN Secretary General Antonio Guterres is convening a special Climate Action Summit, starting today. Nations are being pressed to accelerate their ambitions and back them up with concrete and realistic plans. The summit will be focussed on six ‘action areas’: energy transition; industry transition; infrastructure, cities and local action; nature-based solutions; resilience and adaptation; … [Read more...]
EU ETS Modernisation Fund: putting the wind in the sails of the Transition
Transforming the power system to reach climate neutrality by 2050 will cost approximately €100bn per year according to Eurelectric. In recognition of the different starting points for Member States, the European Commission has introduced the new EU ETS Modernisation Fund (MF) which could be worth as much as €25bn* to the beneficiaries between 2021 and 2030. According to Monika Morawiecka, CEO of PGE Baltica, offshore wind already makes business … [Read more...]
GDP – Gross Environmental Damage = actual wealth creation
We all know that GDP measures everything that’s been paid for, both the good and the bad. There have already been studies that try to account for the “bad” GDP that costs us in the long run and so adds less value than stated. Catherine Wolfram, at the Haas School of Business, takes a thoughtful look at Gross Environmental Damage which separates out the kind of GDP that we’re going to have to spend money cleaning up in the future. The GED concept … [Read more...]
Time for tech-neutral incentives if renewables growth won’t stop climate change?
In 2018 energy use grew 2.9% and emissions 2%. That means renewables are not keeping up with energy’s growth: it will need a four-fold increase in wind and solar’s growth to do so, says Schalk Cloete. There’s more: to cut global CO2 emissions by the 3% per year we need to meet the Paris goals wind and solar growth rates must increase by over an order of magnitude. He reviews the evidence and concludes that current technology-forcing policies – … [Read more...]
Member States must decide: cash for climate or cash for carbon?
Over 3 billion euros of EU money meant for Europe’s poorer regions could be up for grabs by the fossil fuel industry if EU Member States do not change their current position on 25 June. The funding, which is part of the 374 billion Euro ‘Cohesion Policy’ pot, was - in the European Commission’s proposal - meant to go to sustainable economic activities. Yet if EU Member States get their way, a significant portion of the funding would be made … [Read more...]
France and Britain race for carbon neutrality by 2050
Inspired by the UK’s independent Committee on Climate Change (CCC) and the progress it has enabled in that nation’s acceleration to net-zero, France set up its equivalent Haut Conseil pour le Climat. Its first report is launched tomorrow (June 25th). The CCC certainly has made a difference, as this month the UK enshrined in law its goal of net-zero by 2050. The French parliament is in discussions to do the same. Céline Guivarch and Corinne Le … [Read more...]
BP Review of 2018: record CO2, energy use as gas outstrips wind & solar
Energy use grew at 2.9% in 2018, the largest rise since 2010. It’s what happens when economies grow. But gas, oil and coal's contribution to that growth saw global CO2 emissions rise by 2% in 2018, the largest year-on-year increase in seven years. Wind and solar growth, driven by China though slowing in the US, EU, and India, achieved its second fastest rate on record - but still lagged behind gas additions. These are not the trends we need to … [Read more...]
EU to help China fulfil its global climate obligations, and in return…
Last month’s launch of the EU China Energy Cooperation Platform (ECECP) should serve as great encouragement for EU energy firms looking to participate in the developing Chinese energy system. Up until now it’s been possible but challenging as firms have not been competing on a level-playing field. But that is set to change as a whole raft of factors mean the time is ripe for meaningful cooperation between the world’s two leading energy … [Read more...]
IEA clean energy progress report: Only 7 technologies/sectors on track, 38 not
Of the 45 energy technologies and sectors assessed in the IEA’s latest Tracking Clean Energy Progress (TCEP) report, only 7 are on track with the IEA’s Sustainable Development Scenario (SDS). It’s their latest and most comprehensive assessment of clean energy transitions. “On track” includes energy storage, EVs and solar PV. But buildings, car, flaring and methane emissions are still rising. This year’s TCEP puts much greater emphasis on … [Read more...]
China’s industry: Deep decarbonisation progress and challenges
Across the world, industry is regarded as a hard-to-decarbonise sector, and an emissions priority. In China it’s responsible for over 65% of its energy consumption and 70% of carbon emissions. Ji Chen and Shuyi Li of the Rocky Mountain Institute (RMI) look at the highlights of China’s efforts, and reference them against the RMI’s Reinventing Fire: China analysis. Efficiency, electrification, CCUS, hydrogen and “recycle and reuse” all play an … [Read more...]
EU plans first satellite fleet to monitor CO2 in every country
The speed and policies required for a successful transition depend on our ability to measure emissions accurately and globally. That’s why Europe is readying a new fleet of three satellites to monitor CO2 emissions at every point on earth, creating the first worldwide system capable of measuring at city and even power plant level in close to real time, reports Karl Mathiesen at Climate Home News. It will mean, for example, a city can measure how … [Read more...]
EU Elections: stakes are high for energy and climate policy
Voters across the EU head to the polls between 23 and 26 May to elect a new European Parliament. It’s one of three major European institutions — along with the European Commission and Council — due for elections or leadership change this year. Reporting for Clean Energy Wire, Rachel Waldholz, based in Berlin, interprets how the results will shape future EU climate and energy policy, with major ramifications for Germany, Europe, and the global … [Read more...]
UK oil & gas keeps rising. Clean Energy blueprint can reverse it
In the UK the £2.3bn (=$2.9bn / €2.6bn) in new oil and gas subsidies introduced since 2014 will state-fund the addition of twice as much carbon as its coal phaseout saves, says a new report “Sea Change: Climate Emergency, Jobs and Managing the Phase-out of UK Oil and Gas Extraction”. Can the UK call itself a climate leader if its existing policies push it over its emissions limits? It can, if you consider this: the UK took 16 years to become the … [Read more...]
Net Zero UK: chance for Parliament to restore international leadership credentials
The UK may be in turmoil politically thanks to Brexit, but it has revived its efforts to take a leadership position on climate change, after the Committee on Climate Change (CCC) recommended that the government adopt a new target of net-zero greenhouse gas (GHG) emissions by 2050, a tightening of the current goal to cut emissions by 80% from 1990 levels. Mike Scott reports for Energy Post … [Read more...]
There’s a limit to raising CO2 taxes. Re-focus on energy innovations to reverse emissions
Stop obsessing about raising CO2 taxes, says Severin Borenstein at the Energy Institute at Haas. It’s good, but not enough. Why? Textbook economics says if you tax something bad, innovators are incentivised and rewarded for coming up with something better. That’s true for cigarettes (vaping), plastic wrapping (recyclables, biodegradables), traffic (public transport). But there’s a limit with CO2 taxes, says the author. In developing countries … [Read more...]
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