Germany, the UK, France and Italy have sent letters to Connie Hedegaard, Climate Commissioner and GĂĽnther Oettinger, Energy Commissioner on 6 January urging the European Commission to adopt a 40% greenhouse gas emission reduction target for 2030. The European Commission will unveil a climate and energy package on 22 January in which it will announce new targets for 2030 to extend the currently existing 20-20-20 targets for 2020. These targets … [Read more...]
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The greatest business opportunity of our time
Amory Lovins, the founder of the famous Rocky Mountain Institute in Colorado, has written a book in which he presents an energy future without coal, oil or nuclear power. Yet he insists his is not a green or left-wing vision. On the contrary, it will save money and create wealth. “The energy transformation is the greatest business opportunity of our time.” … [Read more...]
Investment funds not prepared for climate risk
The second ever Global Climate Investment Index, which demonstrates how the world’s biggest investors are managing climate risk, reveals that many investment funds are setting investors up for massive losses due to their exposure to climate risks. At the same time, the Asset Owners Disclosure Project’s 2013/14 (AODP) shows that the world’s investment system is capable of driving the low carbon transition. The Asset Owners Disclosure Project’s … [Read more...]
Interview EU Climate Chief Connie Hedegaard: “Climate policy cannot be based on emission reduction alone”
The European Union should adopt EU-wide targets for renewable energy and energy efficiency for 2030, says Climate Commissioner Connie Hedegaard in an interview with Energy Post. She rejects pleas from the energy sector to base EU climate policy solely on CO2 emission reduction targets. She does note, however, that there has been a tendency to “overcompensate” renewable energy, i.e. too generous subsidies. “It was never the plan to subsidise … [Read more...]
“Integrated EU market + ETS = best way to decarbonisation”
The European Climate Foundation (ECF) has released a new report, From Roadmaps to Reality, which shows how the current EU energy framework can be improved to drive the decarbonisation of the power sector in Europe. From Roadmaps To Reality, the latest report in the ECF’s “Roadmap 2050” series, finds that a fully integrated Internal Energy Market in combination with a functioning Emissions Trading System is the most cost-effective and … [Read more...]
Interview with Johannes Teyssen, CEO of Eon: “Renewables can become biggest without subsidies”
Dr Johannes Teyssen, CEO of Eon and President of Eurelectric, doesn’t beat about the bush: in an exclusive interview with Energy Post, he says that Europe needs a single climate target for 2030 of “between 40% and 50%” emission reduction. At the same time all energy subsidies and “green levies” should go. Renewables “have all the chance in the world to take the biggest chunk of the market” even without subsidies. The European Commission should … [Read more...]
The UK energy confusion: good policies, shame about the politics
To outside observers, UK energy policy must seem to be hopelessly confused and the energy sector in a mess. Actually, the problem is not so much the policies, writes Stephen Tindale, associate fellow at the Centre for European Reform. They make a lot of sense and may lead the country to a secure and low-carbon energy future. The problem is the politics – populist proposals create confusion and may undo the good work that is being done. Earlier … [Read more...]
Energy heavyweight Joan MacNaughton: “Adaptation is a cop-out”
Joan MacNaughton, President of the Energy Institute and a highly influential figure in the international energy policymaking world, calls on “the big CO2 emitters” in the world to take unilateral action to reduce CO2 emissions. Countries that refuse to get along, should be penalised through import duties or carbon taxes, suggests MacNaughton. The current talk about “adaptation” to climate change, says MacNaughton, is a “cop-out”. Energy Post … [Read more...]
The battle over the world’s largest wealth fund – and what it means for the energy sector
A broad movement has emerged in Norway to get the country’s $720 billion sovereign wealth fund to invest in renewable energy. According to Terje Osmundsen, blogger and Senior Vice President of Scatec Solar, a globally leading solar power provider, such a change in strategy would have far-reaching effects on the global energy market. Not only directly, but also indirectly as Norway’s fund is seen as a model by other SWF’s. Meanwhile, pressure is … [Read more...]
IEA expands cooperation with “partner countries” and issues strong statement on climate
The International Energy Agency and six "partner countries" – Brazil, China, India, Indonesia, Russia and South Africa – on Wednesday for the first time expressed their mutual interest in pursuing a stronger, more enhanced form of multilateral co-operation. The Joint Declaration on Association was issued at the end of the 2013 IEA Ministerial Meeting. Chaired by Turkish Minister of Energy and Natural Resources Taner Yildiz, the IEA Ministerial … [Read more...]
World Energy Council: “We are looking in the wrong place”
“To deliver sustainable energy systems our focus must shift from the supply mix to demand efficiency.” This is the conclusion that Christoph Frei, Secretary-General of the World Energy Council (WEC), draws from the World Energy Scenarios recently published by WEC. According to this new report, “current technologies, policies, and innovation are not enough to meet climate goals”. Despite strong growth in renewables, fossil fuels will remain … [Read more...]
Interview Ambassador Wu: “An energy revolution is very much needed”
In a speech in Groningen at the Energy Convention 2013, Wu Jianmin, Executive Vice-Chairman of the influential China Institute for Innovation and Development Strategy, a government-aligned think tank in Beijing, declared that China “very much needs an energy revolution”. China “depends too much on coal”, said Wu. But in an interview with Energy Post he added we should not expect miracles. “We can't get rid of the coal yet.” … [Read more...]
Coal industry calls for emission performance standards
The World Coal Assocation  issued a CommuniquĂ© in Warsaw on 21 November at the much-criticized International Coal and Climate Summit which was held simultaneously with the UN Climate Conference COP19 in Warsaw. In this so-called Warsaw CommuniquĂ© the coal industry calls on governments to introduce performance standards for power plants to lower CO2 emissions in the world. The literal text of the CommuniquĂ© is as follows: "We note that while … [Read more...]
Global electricity producers: credible carbon pricing essential
Electricity utilities see having a credible price level for CO2 and long-term, predictable policies as the crucial factors for driving change in their fuel and technology mix, according to the latest insights from the Global Electricity Initiative (GEI), presented today. Despite important efforts to increase investments in renewables, the GEI utilities expect fossil fuels to continue to be the basis of generation capacity from 2015 to 2035. … [Read more...]
Exclusive interview IEA-Director Maria van der Hoeven: “We cannot rule out new revolutions”
In its new World Energy Outlook (WEO), the IEA is cautious about the prospects of unconventional oil and gas outside the US. As regards shale gas, it notes that “uncertainty remains over the quality, the costs and public acceptance.” Yet in an interview with Energy Post, IEA Executive Director Maria van der Hoeven notes that “the gas is there. All geologists are agreed on that.” Moreover, “there may be other surprises in store, for example with … [Read more...]
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