We need to shift investment from fossil fuels to other climate-friendly energy sources, but it must be done more intelligently than weâre doing it today, says Schalk Cloete. The rapid global economic development needed to uplift the 86% of the worldâs population currently living below $1,000/month is inextricably linked to the continued and timely growth in an abundant supply of affordable energy. It would be unjust â and probably futile â to … [Read more...]
The energy transition needs some of the $12tn global Covid stimulus. But much less than you think
Governments worldwide have committed over $12tn to recover from the Covid-19 pandemic, spent over the next 5 years. Current estimates say the energy transition needs $1.4tn/year globally between 2020 and 2024 to get us on the path to meet the 1.5oC Paris goal. Clearly, there is an opportunity here. Although support for healthcare systems and the overall economy are the stated priority of governments, much of that $12tn is still not committed. … [Read more...]
From rooftop solar to carbon divestment, California leads the transition
California doesnât wait for Washington. As Americaâs 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...]
“Huge challenge to deliver enough oil and gas for 2ÂșCâ â Statoil on Paris climate talks
In this video for viEUws - the EU Policy Broadcaster - journalist Sonja van Renssen is joined by Jos Delbeke (Director General for Climate Action, European Commission), Kathleen Van Brempt MEP (Vice-president of the S&D Group) and Eirik WĂŠrness (Chief Economist and Vice President, Statoil) to debate the question: âRoad to Paris: can the EU retain its leadership role at COP21?â … [Read more...]
What oil companies do is bad for the climate. But it may also be bad for investors
Climate campaigners have a new weapon in their arsenal: they say that if shareholders want value for money they had better start questioning the high-risk, high-cost projects oil companies are undertaking on a massive scale. And not just because of climate risks, but for purely economic reasons as well. The Carbon Tracker Initiative, which first put the idea of âstranded assetsâ on the map (i.e. the notion that a large part of the fossil fuel … [Read more...]
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