Diana-Paula Gherasim at the IFRI Centre for Energy & Climate summarises her 36-page data-rich report on the progress and challenges for the ten Central and Eastern EU (CEECs) countries in decarbonisation. The Russian invasion of Ukraine has focussed all minds on energy security and the best solutions: less fossils, efficiency gains and clean energy made in the EU. Gherasim says that vitally important progress is being made in avoiding a … [Read more...]
âGreen Deal Industrial Planâ explainer: 40%+ of the top low-carbon technologies must be made in the EU by 2030
The ECâs new series of proposed targets and reforms, contained in its Green Deal Industrial Plan, aim to ensure that at least 40% of the EUâs low-carbon technologies will be made within its borders by 2030. The eight âstrategic net-zero technologiesâ are: Solar (power and thermal); Onshore and offshore wind; Batteries and energy storage; Heat pumps and geothermal; Electrolysers and fuel cells; Sustainable biogas/biomethane; CCS; Grid … [Read more...]
Europe needs a Regional Green Bank to fulfil its Green Deal and match the U.S.
Three years in, the European Green Deal remains unfulfilled as a long-term vision for decarbonising Europe by 2050, says Esmeralda Colombo at EIEE. To inject new momentum, in this weekâs speech at the World Economic Forum in Davos, EC President Ursula von der Leyen sketched out a Green Deal Industrial Plan to subsidise the cleantech industry and compete with the rest of the world, notably the US, and the EU Sovereignty Fund to equalise the … [Read more...]
2023 lookahead for Sustainable Finance: EU Taxonomy, ESG ratings, corporate disclosure laws, Europeâs âIRAâ
What will be the big issues for sustainable finance in 2023? Luca Bonaccorsi at Transport & Environment points at four. Firstly, the EU Taxonomy defines what counts as âgreenâ investment. There has been much criticism of the inclusion of gas, and critics will continue publishing their analyses of what is truly sustainable and what is greenwash. Next, ESG ratings have also been severely criticised. They are an investorâs main tool for capital … [Read more...]
COP 27: a way forward for methane, fossil fuel (not just coal) phase-out, and U.S.-China competition?
COP 27 was never expected to have the impact that COP 26 did, and thatâs how it turned out, explain Ben Cahill, Sandeep Pai and Taiya Smith at CSIS. But there are three issues that can have long term positive impacts if carried forward successfully. The first is some good news on methane emissions. The U.S., the EU, Japan and other countries announced an important producer-consumer effort to cut greenhouse gas emissions from traded gas, while … [Read more...]
COP 27: âLoss & Damageâ can become the fourth pillar of climate action, along with mitigation, adaptation and finance
COP27 saw two major outcomes on the finance front: the creation of a âLoss and Damageâ fund and a call to reform international financial institutions. It made fewer, if any, advances to reduce emissions, and narrowly missed sending a global call to phase down oil and gas consumption. But funding the emissions reductions of developing and vulnerable nations was a gap that had to be filled, and so this is a big step forward, explains Lola Vallejo … [Read more...]
European green steel makers are securing funding â and big customers – for production plants
European steel makers are leading the way in building the first green steel production plants. The big step forward is the securing of finance from a range of private and public banks and credit guarantors, says Soroush Basirat at IEEFA. Swedish start-up H2 Green Steel and industry leaders Thyssenkrupp and Salzgitter are now set to spend billions, while pre-sales to and commitments from BMW, Miele, Mercedes and Ford are helping to create the … [Read more...]
COP 27: an analysis of what gets prioritised and ignored at UN climate negotiations
Getting an issue on the agenda of a COP is essential for its chances of being dealt with properly. Jennifer Allan at Cardiff University and Rishikesh Ram Bhandary at Boston University, writing for Carbon Brief, have analysed 218 agendas, tracking 502 agenda sub-items, going back to the first COP in Berlin in 1995. Certain agendas stand out â Adaptation, Mitigation, Finance, Transparency, Technology, Capacity Building, Response Measures, … [Read more...]
$78tn net gain for compensated global Coal phase-out, when social benefits are added
Is replacing coal with renewables too expensive? No, itâs the opposite, explain Tobias Adrian at the International Monetary Fund, Patrick Bolton at Imperial College London and Alissa Kleinnijenhuis at the Oxford Martin School who summarise their paper. When the social benefits are added, the net gain globally is around $78tn under a conservative estimate. Thatâs equal to 1.2% of current world GDP every year until 2100 â these are real economic … [Read more...]
Will price caps on Russian oil work? Three experts debate
Whatever the G7 does, the objective is to cut revenues flowing into Russia, not oil flowing out. And whatever the sanctions, getting compliance from neutral and pro-Russian countries will need a strong positive incentive. Hence the idea of a price cap which would keep prices low. Here, three experts â Edward Fishman and Brian OâToole at the Atlantic Council, and Mark Mozur at S&P Global Commodity Insights (with background by Atlantic … [Read more...]
Rotterdamâs World Hydrogen 2022 Summit & Exhibition: 3,000+ attendees, 120+ businesses, 9-11 May
The World Hydrogen 2022 Summit & Exhibition will open its doors to over 3,500 industry professionals on 9-11 May in Rotterdam where more than 120 leading hydrogen companies will be showcasing their technologies, applications and solutions at the cityâs largest arena, the Rotterdam Ahoy. The anticipated meeting is the first large-scale hydrogen-focused event to take place following the pandemic in Rotterdam, a city recognised for its advances … [Read more...]
EU Taxonomy: labelling Gas âgreenâ is a gift to Putin
Many of todayâs clean energy technologies were given their first boost in the wake of the 1973 oil crisis, explains William Todts at T&E. He now hopes the current confrontation between NATO and Russia over Ukraine will shake up and deepen Europeâs commitment to the energy transition. But entirely the wrong signal was sent over the New Year, says Todts. He describes the European Commissionâs inclusion of gas in the EU Taxonomy for sustainable … [Read more...]
Imagine itâs 2030 and net-zero is on track. How did we do it?
Imagine itâs 2030. The energy transition is on track and net-zero goals are entrenched across the global economy. How did we get there? Tim Buckley at IEEFA imagines it for us and sends us a postcard from the future. Writing in the past tense, he flags actual events and policies happening today to ârememberâ the major changes that took place to achieve it. Weather-related disasters compelled governments to act, recognising â apart from 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 yearâs 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...]
Climate Finance: the loopholes that are causing greenwashing
How do you know when an investment is truly âgreenâ? Whether companies and fund managers monitor themselves or are externally policed, the correct rules need to be identified. And then it gets harder. Clearly defining and then measuring carbon footprints is a bigger challenge, explains Meredith Fowlie at UC Berkeleyâs Energy Institute at Haas. She draws parallels with food nutrition labelling rules. But whereas counting the calories in a food … [Read more...]
