Climate Change

In anticipation of the Pacific Islands Forum (PIF) in Tuvalu this week, Australian Prime Minister Scott Morrison is set to announce A$500 million ($337.75 million) in foreign aid to partnering Pacific nations in the form of a climate change and oceans funding package for renewable energy investment and climate resilience.

The first debate, featuring the two front-runners for the Democratic nomination, showed clear and growing divisions within the Democratic Party on climate policy as much as everything else.

Pope Francis held a closed door meeting at the Academy of Sciences with the CEOs of oil firms and investment firms to address climate change, with a group committing to support an “economically meaningful” carbon price.

U.S. Presidential candidate Joe Biden has released his climate plan, which focuses on tax cut reversals and executive action to kickstart 100% clean energy and net-zero carbon emissions by 2050.

Global electricity demand rose by 4% in 2018, nearly twice as fast as overall energy demand, as consumption edged up by 2.3%, according to a new report by the International Energy Agency (IEA). Renewables accounted for 45% of the growth in generating capacity.

While some lenders and financiers have signaled plans to stop funding polluting power stations, a new report shows that 33 global banks have poured $1.9 trillion into financing the fossil fuel industry as a whole since the adoption of the Paris Agreement. Big U.S. banks led by JPMorgan have invested most heavily.

Transition to a world run entirely on clean energy – together with the implementation of natural climate solutions – is the only way to halt climate change and keep the global temperature rise below 1.5°C, according to another significant study.

As the dust settles on an imperfect, but still welcome, international agreement thrashed out at COP 24, the chairman of the European Energy Research Alliance has criticized the solar industry for its lack of representation in Katowice.

The tipping point, where the world shifts from oil and gas to renewables, will be the year 2035, says Wood Mackenzie. This is when renewables and electric-based technologies converge, with around 20% of global power needs being met by solar or wind, and roughly 20% of miles traveled by cars, trucks, buses and bikes using electricity. Will the transition come soon enough, however?

A bill is moving through the DC council to set a more aggressive renewable energy target than any state has yet approved, and to shift the city to solar.