Environmental taxes hurt low-income households the most because they spend a much higher proportion of their income on heating oil, natural gas, and electricity. Itās why Spain has low green taxes, far below the EU average. Mark Dwortzan at MIT explains how researchers from the U.S., Germany and Spain teamed up to show that low-income households can benefit from environmental taxes provided those tax revenues are carefully redistributed in their … [Read more...]
Private finance must invest in carbon asset retirement, not just clean energy
The Climate Finance Leadership Initiative (CFLI) is laying out concrete plans for the private sector to finance the low-carbon transition, say Tyeler Matsuo and Lucy Kessler of Rocky Mountain Institute. One important insight of their new report āFinancing the Low-Carbon Futureā is that itās not enough to back clean energy. Climate finance also needs to accelerate the retirement and transformation of the carbon assets that are responsible for 78% … [Read more...]
Energy security v Transition in Algeria, Egypt, Morocco, Turkey
Like most developing countries, the challenge of growing economies, increasing population and rapid urbanisation puts energy security above emissions reductions. So it is for Algeria, Egypt, Morocco and Turkey, says Duygu Sever in her report for IFRI Centre for Energy & Climate. In this article she explains that all four countries nevertheless have high renewables deployment potential, and have already embraced wind and solar. To accelerate … [Read more...]
Shipping: commercially viable zero emission deep sea vessels by 2030
Last year the International Maritime Organization, recognising the slow progress the sector had made, set ambitious targets to reduce shipping emissions by at least 50% by 2050 compared to 2008. Companies started lining up to face the challenge. But the shipping sector is very energy intensive. Bunker fuel costs can account for 24 - 41% of total shipping costs, so any clean fuel transition must be competitively priced. The fact that alternatives … [Read more...]
EU policing of Member State gas plans not consistent
Elisa Giannelli at E3G explains why the European Commissionās assessment of Member Statesā natural gas plans is not consistent, on three fronts. Firstly, with its own EU climate targets: many nations are planning to increase their consumption of and investment in gas regardless of EU-wide targets to cut emissions. Secondly, the Commission is critical of some of these nations but actually supportive of others. Thirdly, even the EUās own policies … [Read more...]
Accelerating electromobility in east Europe (part 2): buses
Sarah Keay-Bright plots an affordable pathway for low income nations to reduce the cost of bus electrification and scale up private investment. The first step is to put a true figure on the total cost of ownership (TCO) for electric buses versus existing conventional fossil fuel ones. Externalities such as air pollution are often left out. Subsidies, fuel and vehicle taxes also play a role. Every country is different, because of matters that … [Read more...]
An independent Global Energy Forecast to 2050 (part 2 of 5): wind and solar
Schalk Cloete is creating his own 5-part independent Global Energy Forecast to 2050, to compare with the next IEA World Energy Outlook, due in November. Many of his assumptions are different from the big institutions, not least that technology-neutrality will be widely adopted as the best policy, as carbon budgets are exhausted around 2030. There are other big differences too. He starts with wind and solar, two technologies that the IEA and … [Read more...]
IEA: Big energy firms cannot ignore the Transition
Alessandro Blasi and Alberto Toril of the IEA look at how oil and gas majors are still investing very little - of the order of a single percentage point - in clean energy projects. What they are doing in response to new anti-fossil climate policies is increasing investment in short cycle projects that generate cash and returns quickly, minimising risk. This is a questionable strategy, given the fundamental shift away from thermal power and fossil … [Read more...]
UN climate summit: which nations are leading, which failing
Ahead of the UN climate summit in New York on September 23rd, where countries are expected to set themselves more ambitious targets and roadmaps than they did in Paris in 2015, Bill Hare of Climate Analytics looks at the emissions league table. There are some surprises at the top: Ethiopia, Morocco and India, though he points out being at the top can still be a long way from doing enough to meet the 1.5ā goal. At the bottom are Australia, the … [Read more...]
Lightweight Gasoline Cars: a necessary 30-year stop gap?
We should all be driving electric vehicles. But we have to wait for renewable electric grid capacity to support them all, charging points everywhere, and enough new batteries to be manufactured and put in all the new, affordable BEVs. And weāre running out of time. An interim solution has come from a study by MIT and Ford. David Chandler, writing for MIT, explains the study, which says that an interim solution ā for certain regions - is … [Read more...]
2018 investment in renewables 12% down on 2017
At $272.9bn, 2018 investment in renewables capacity was 12% down on the previous year. Despite this, renewablesā investment was three times the total for coal and gas-fired generation capacity combined in 2018. Over the last decade, $2.6tn was invested in renewables (half going to solar), quadrupling capacity to 1,650GW. Consequently, renewablesā share of electricity generation reached 12.9%, up from 11.6% in 2017. This avoided an estimated 2bn … [Read more...]
An independent Global Energy Forecast to 2050, to compare with the IEAās WEO 2019
Schalk Cloete is creating his own Global Energy Forecast to 2050. He wants to see how his own independent analysis will match up with the next IEA World Energy Outlook, due in November. And so do we. Rich with data, his major predictions include a global policy shift from technology-forcing to technology-neutrality shortly before 2030, driven by growing worldwide acceptance of the severity of climate change. The exhaustion of the 1.5Ā°C and, … [Read more...]
āHard-to-abateā sectors need Hydrogen. But only 4% is āgreenā
40% of global greenhouse gas emissions come from āhard-to-abateā industry sectors like industrial processing and transport. Electrification wonāt be enough. They also need hydrogen, argue Patrick Molloy and Leeann Baronett at Rocky Mountain Institute. Hydrogen production is already well established and growing. But itās mainly for the chemical industry, which never meant it to be āgreenā: sure enough, only 4% of current hydrogen production is … [Read more...]
Peak coal on the horizon: a country-by-country review
Though the global coal fleet still increased by 17GW in the first half of 2019, net of retirements, the pipeline is definitely shrinking. Two thirds of proposed projects never even get started. Notably, in China existing coal plants have been running, on average, only 50% of the time since 2015, evidence of a large excess of capacity. But is it enough? The IPCCās pathway to 1.5C requires unabated coal power generation to fall by 55-70% by 2030 … [Read more...]
Why coordinated Dutch-German climate action is critical for Europe
Both the Netherlands and Germany are about to propose major new national climate measures. If the proposals become law, they will enforce some of the most stringent national targets for GHG reductions in the world. Itās why, on 22 August, Dutch Prime Minister Mark Rutte will host a meeting with German Chancellor Angela Merkel and her āclimate cabinetā. Coordinated Dutch-German climate action can make these neighbouring countries role models for … [Read more...]
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