Corporations in the auto industry, battery manufacturing and mining have joined forces to establish reliable due diligence reporting on raw minerals. Volvo will be among the first to move on the issue by putting its cobalt supply chain under scrutiny early next year.
A number of parties used the One Planet Summit in France yesterday to either reaffirm clean financing commitments, or unveil new ones. However, the figures still fall short of the US$6.3 trillion the OECD has calculated is needed annually.
While China accounted for three-quarters of the investment reduction in clean energy in 2016, other non-OECD countries spent 25% less on renewables last year compared to 2015, according to BNEF and Climatescope data. 2009’s Copenhagen pledge by richer countries to support developing world also falling short.
Latest Climatescope report by Bloomberg New Energy Finance finds that the 58 emerging market economies built 70 GW of clean power in 2015, compared to 59 GW among the 35 wealthiest OECD nations.
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