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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 Event in Energy, Climate Change
Created a Post in Energy
Pleased to share link to my recent publication.
Created a Post in Climate Change, Energy
Europe and the world need to draw the right lessons from today’s natural gas crisis.
Today, Europe finds itself at the heart of an international energy storm. Understanding the causes of this crisis and drawing the right lessons from it is essential for the transition to more sustainable, secure and affordable energy supplies in the future.
"We are once again seeing claims that volatility in gas and electricity markets is the result of the clean energy transition. These assertions are misleading to say the least. This is not a renewables or a clean energy crisis; this is a natural gas market crisis" says Fatih Birol, Executive Director at International Energy Agency (IEA).
Created a Post in Climate Change, Energy, Sustainable Finance
Pension Funds & Climate Risk
Nest, the £20bn UK government-backed workplace pension scheme, has sold its holdings in ExxonMobil and four other energy companies after criticising their progress on managing climate change risks.
Frustration over the response of some fossil fuel companies to the threat of catastrophic global warming is driving a small but growing number of influential pension funds to divest from businesses that are perceived as blocking progress towards a lower carbon economy.
“At Nest we aim to work with companies to encourage sustainable business decisions but will draw the line somewhere. The five companies being excluded have not done enough to convince us that we should remain shareholders".
Will a €150m project to turn cow manure into biogas help the Netherlands cut agricultural emissions?
About 10% of the Netherlands’ greenhouse gas emissions come from agriculture, mostly methane as a result of the dairy industry, and the country’s livestock produces 74m tonnes of manure a year. Masterminded by FrieslandCampina, the country’s largest dairy collective which buys milk from 13,500 of the Netherlands’ 17,000 dairy farmers, the project has established an initial target of getting 1,000 large farms across the country to make power from cow manure within four years.
GFLP International Conference: Financing Net Zero and Nature Positive Future
From 16 to 17 December 2021, the Global Green Finance Leadership Program (GFLP) is hosting GFLP International Conference: Financing Net Zero and Nature Positive Future, co-hosted by Beijing Institute of Finance and Sustainability and UK PACT.
This two-day conference is intended to invite experts to exchange ideas and discuss topics on Role of Green and Sustainable Finance, Climate Disclosure and Other Approaches in Climate and Nature-Related Risk Management, Financial Product Innovation for Sustainability, and Carbon Accounting for Financial Institutions.
Created a Post in Energy, Climate Change, Industry and Entrepreneurship
Cobalt, lithium, nickel and graphite, historically of secondary interest to miners, have gained exceptional value in a world trying to set fossil fuels aside due to their use in electric batteries.
But will mining ever been sustainable and fair?
From Congo to Serbia, the rising quest for these materials is demonstrating how the clean energy revolution, meant to save the planet from perilously warming temperatures in an age of enlightened self-interest, is already caught in a familiar cycle of exploitation, greed and gamesmanship that often puts narrow national aspirations above all else.
Created a Post in Climate Change, Energy, Industry and Entrepreneurship
The Covid pandemic has made even more evident our reliance on technology. Indeed, our way of working has changed - with some of us even working remotely full time.
We often see this as a more sustainable pattern, but is this really the case?
Computers, servers and other electronic devices require large amounts of natural resources.The energy to run them emits high amounts of CO2, and programmed obsolescence and the low percentage of recycling are generating e-waste. Plus, the vast majority of data in the cloud are not used.
Without denying the many benefits brought by these technologies, including for the environment, it is important for users, services providers and policy makers to understand what the impacts are and to learn how we can move towards greener digital technologies.
Read the brief to discover more!
The right capital in the right place at the right time can take climate impact beyond ‘net zero’
"In many markets, it doesn’t take much to tip the balance towards net zero. Small shifts can have big ripple effects, spurring a country to turn decisively away from current high-carbon energy."
Created a Post in Cities and Urban Development, Climate Change, Energy
Hong Kong’s Water-Energy-Climate Synergies