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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, Climate Change
Nigeria commits to annual carbon budgets to reach net zero under climate law.
Nigeria, Africa’s most populous country and the continent’s biggest oil producer, has become the first major developing country to commit to set annual carbon budgets to plot its path to cutting emissions to net zero.
After announcing a 2060 net zero target at the Cop26 climate talks in Glasgow, president Muhammadu Buhari signed into law a climate bill committing his government to produce a sweeping plan to reduce emissions, adapt to climate change and set annual and five-year carbon budgets.
Created an Event in Energy, Blue Economy
Created a Post in Climate Change, Energy, Sustainable Finance
'End the hypocrisy – it’s time the financial sector close the loopholes to achieving net-zero'
The finance sector is increasingly taking centre stage on climate change. With their commitments to net-zero in the public eye for all to see, they can no longer hide from their responsibility.
This Thursday, November 11 at 14:00 GMT, I invite you to join us at the COP26 Nordic Pavilion (SEC Centre, Hall 4, Exhibition Way, Glasgow) for an exciting discussion about how we can turbocharge the energy transition by swapping subsidies from fossil fuels to renewables.
Nordic countries have been trailblazers in implementing environmental fiscal policies including reforming fossil fuel subsidies, pricing carbon, and supporting renewable energy. Hosted by IISD, this hybrid COP 26 side event will explore how the Nordic experience can inform fiscal policy in the Global South and make the case for subsidy reform and reallocation to clean energy across the globe. Particular focus will be given to experience from South Africa where a coal dominated energy sector coupled with severe energy access challenges presents a number of key challenges for reform.
Created a Post in Energy
gostaria de saber como é feito o processo de ajuda a projetos que procuram diminuir a producao de carbono?
Yesterday I went into the local IKEA store and saw that all their fridges where either E or F energy efficient, a company like IKEA coming from a country that takes Green Issues seriously, surely they could do alot better than this
Created an Event in Energy, Gender
Created a Post in Cities and Urban Development, Climate Change, Energy
Melbourne Water’s Net Zero Future
James Stock, who was part of President Obama’s Council of Economic Advisers in 2013–14, asserts that as green energy costs drop, we should shift the emphasis from economy-wide carbon pricing to sectoral policies. He dives into the (at least) three externalities that policies for the energy transition confront: the greenhouse gas externality; the innovation externality; and, in some cases, network (or chicken-and-egg) externalities.
The fossil fuel industry benefits from subsidies of $11m every minute, according to analysis by the International Monetary Fund. The IMF found the production and burning of coal, oil and gas was subsidised by $5.9tn in 2020, with not a single country pricing all its fuels sufficiently to reflect their full supply and environmental costs.