Public - visible to all visitors to the platform.
Open to join - users can join this group without approval.
Invite only - users can only join this group if they are added/invited by group managers.
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 Climate Change, Energy
After being named as one of the best inventions of 2020 by Time magazine, Climate TRACE - the world's first comprehensive accounting of global GHGs based on direct, independent observation - has recently been released. It tracks human-caused GHG emissions in real-time using satellite imagery and other forms of remote sensing, artificial intelligence, and collective data science expertise.
Created an Event in Energy, Green Recovery from COVID-19
Created a Post in Energy, Sustainable Finance
On 16 Sept 2021 16:00 - 17:00 CET, SEforALL and CPI will launch a new knowledge brief on Coal Power Finance in High-Impact Countries.
Although the overall trend is to diminish the global investment in coal fired power plants, high-impact countries in South Asia or Sub-Saharan Africa still receive funding for additional coal capacity.
This new research identifies which high-impact countries are receiving finance for coal fired power, the sources of this investment, its key drivers and the risks attached. The research also offers a series of recommendations to accelerate coal phase-out in favor of more cost-effective renewable energy solutions that support both increased energy access and the transition.
Created a Post in Climate Change, Energy, Sustainable Finance
Insurer Prudential and lenders Asian Development Bank (ADB), Citi, and HSBC plan to speed up the closing of coal-fired power plants in Asia by buying and closing them within 15 years - much shorter than a plant’s average lifetime of 46 years. Led by the ADB, they plan to present a model at the COP26 to buy out coal plants for early closures, as an attempt to speed up the transition to zero emissions. It will also help turn costs into savings for customers and utilities.
To make it happen, governments are looking to provide public funding to seed new funds or investment vehicles. How to ensure the coal plant buy outs will benefit the public and not the big banks?
Created a Post in Energy, Natural Capital
An energy transition that fails to engage with fossil fuel-producing countries and their needs could have profound implications for regional and international security and the stability of global energy markets. If oil revenues start to decline before producer countries have successfully diversified their economies, livelihoods will be lost and poverty rates will increase. In a region with one of the youngest and fastest-growing populations in the world, economic hardship and increasing unemployment risk creating broader unrest and instability.
With its current pace, Europe will only reach its 2030 target to reduce 55% GHG emissions by 2051. Closer cooperation between member states on energy transition, adopting a regional approach to boost market integration is needed to speed up the process.
Created a Post in Energy, Climate Change
Join IISD, IEA, and the Government of Denmark for a webinar on Tuesday looking at how fossil fuel subsidy reform can support people-centred clean energy transitions! Experts will give practical examples of how to conduct FFSR in a way that supports people by taking into account issues such as gender, health, local community considerations, and broader social impacts.