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The COVID-19 pandemic is a global health crisis that has major implications for world economies, energy use and CO2 emissions. According to the IEA’s World Energy Outlook 2020 report, the immediate effects of the pandemic on the energy system shows expected falls in 2020 of 5% in global energy demand, 7% in energy-related CO2 emissions and 18% in energy investment. Oil consumption is anticipated to decline by 8% and coal use by 7%. However, as with previous crises, the rebound in emissions may be larger than the decline, unless the wave of investments to restart economies is dedicated to cleaner and more resilient energy infrastructure. Decarbonizing energy use in time to avert catastrophic climate change requires increased international cooperation. Recovery measures following COVID-19 pandemic could include flexible power grids, efficiency solutions, electric vehicle charging, energy storage, interconnected hydropower, green hydrogen and other technology investments consistent with long-term energy and climate sustainability.
In line with the Sustainable Development Goals (SDGs), there is a global movement to address these challenges by substantially increasing investment in renewable energy technologies and implementation, doubling the rate of improvement to energy efficiency, and changing user behaviours, with the aim to achieve absolute decoupling between energy consumption and economic growth.
Created an Opportunity in UNIDO Industry Working Group, Energy, Industry and Entrepreneurship
Created a Post in Climate Change, Energy, Industry and Entrepreneurship
Green building standards & carbon finance in Cambodia's first LEED Gold certified garment factory
Created a Post in Energy, Climate Change
The IEA released a roadmap for realizing net-zero carbon dioxide (CO2) emissions in the energy sector by 2050. The new net-zero model signals a critical shift in the IEA’s ambition, moving the yardstick for achieving net-zero emissions two decades earlier.
Created a Post in Sustainable Finance, Climate Change, Energy
WRI, WWF, and HSBC have launched a US$100m Climate Solutions Partnership, which aims to accelerate efforts to scale up climate innovation ventures, nature-based solutions, and renewable energy and energy efficiency in Asia
Created an Event in Energy, Climate Change, Waste Management
Created a Post in Climate Change, Energy, Sustainable Finance
Global energy systems must undergo a wholesale switch to low-carbon and energy-efficient technologies to achieve a net-zero emissions by the mid-century. Yet in reality, there has been no urgency in facilitating clean energy transition given the projected economic models. However, this blog identifies how the low-carbon transition may actually end up being much cheaper than models initially predicted.
Created a Post in Cities and Urban Development, Energy, Green Recovery from COVID-19
IFC report reveals how a green post-COVID recovery focused on decarbonizing energy infrastructure, building climate-smart cities, and accelerating a shift to more sustainable production can gain economic and climate benefits - based on analysis from 10 key sectors across 21 major emerging market economies that represent 62% of the world's population and 48% of global GHG emissions.
Did you know that one kilogram of hydrogen has roughly the same energy content as one gallon of gasoline, and yet when burnt, it only emits water? This blog provides an insight into the application of hydrogen in industrial activities. This article further shows how representatives of countries have introduced their strategies and prioritisations in working efficiently to achieving a green hydrogen economy.
Created a Post in Climate Change, Energy
Economic damages from droughts in the EU and UK could rise by one third by the end of the century. What are the necessary adaptation measures needed to prevent the worsening of droughts and warming? Carbon Brief projects and explores the economic losses for Europe and also individual regions and countries.
Created a Post in Energy, Climate Change, Sustainable Finance
Should gas and oil projects stop receiving funding? The ADB aims to end financing for coal mining and power plants, yet critics remain particularly on having methane gas as a “transition fuel”.