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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
Institutional Capital: Closing the Energy Transformation Investment Gap
“Renewable energy assets provide institutional investors with relatively strong, stable, long-term ‘bond-like’ returns that match such investors’ long-term liabilities, while minimising the risk of stranded assets”
Created an Event in Energy, Climate Change
Planning, gas pipelines and community safety: What is the role for local planning authorities in managing risk in the neoliberal era?
Lots of interesting findings and recommendations in this new report by IRENA and the Climate Policy Initiative - 'Global Landscape of Renewable Energy Finance 2020. For instance, "Green bonds have the potential to channel significant volumes of capital into renewable energy. Annual issuance of green bonds solely earmarked to renewable energy experienced a rapid increase in recent years, from USD 2 billion in 2013 to USD 38 billion in 2019."
Renewable energy defies Covid-19 to hit record growth in 2020
International Energy Agency expects green electricity to end coal’s 50-year reign by 2025
Green Hydrogen: Could It Be Key to a Carbon-Free Economy?
Green hydrogen, which uses renewable energy to produce hydrogen from water, is taking off around the globe. Its boosters say the fuel could play an important role in decarbonizing hard-to-electrify sectors of the economy, such as long-haul trucking, aviation, and heavy manufacturing.
Climate-conscious venture capitalists are back
Can they both make money and protect the planet?
Has Covid-19 quietly dealt a mortal blow to oil demand?
New plans to Build Back Greener by making the UK the world leader in clean wind energy – creating jobs, slashing carbon emissions and boosting exports.
lfeanyi Orajaka, CEO of Green Village Electricity (GVE) emphasizes the importance of renewable energy for Nigeria