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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 a Post in Energy
IRENA and the African Development Bank partner to scale up renewables investments in Africa. This includes collaboration on AfDB’s Desert to Power Initiative, which aims to mobilise public and private funding to install 10 GW of solar power by 2025 in 11 countries in the Sahel region.
The International Energy Agency sees efficiency slowing in 2020 and it recorded the weakest improvement in efficiency since 2010, which means a problem for the climate. For a more thorough analysis check out IEA's latest edition of the annual update on global developments in energy efficiency.
Created an Opportunity in Energy, Climate Change, Waste Management
Created an Event in Energy, Green Recovery from COVID-19, Cities and Urban Development
Created a Post in Climate Change, Green Recovery from COVID-19, Energy
Five years after the signing of the Paris Agreement, the gap between pledges and implementation remains large. This Production Gap Report highlights the discrepancy between countries’ planned fossil fuel production levels and the global levels necessary to limit warming to 1.5°C or 2°C, with the COVID-19 recovery marks a potential turning point.
History may not repeat itself, but it rhymes. Podcast: Why Green Energy Means Mining: The Case Of Cobalt
Created an Event in Energy, Industry and Entrepreneurship
Time to make coal history
Europe and America have shown that King Coal can be dethroned, but they cannot be bystanders as Asia works to complete the revolution. Coal powered the West’s development. In 2019 coal consumption per person in India was less than half that in America. It is in Asia’s long-term interests to topple coal, but the short-term political and economic costs are large enough that action may be too slow. If politicians in Europe and America are serious about fighting global warming, they must work harder to depress coal elsewhere. That includes honouring prior promises to help developing countries deal with climate change.
The market for thermal energy storage technology is rapidly growing - predicted to triple in size by 2030. Check out the innovation outlook on thermal energy storage recently published by IRENA.
Created an Opportunity in Energy