Global energy investment held steady above $1.8tln in 2018 — IEA
Global investment in energy hit roughly $1.8 trillion in 2018, broadly similar to levels reported in the preceding year, according to a new report by the International Energy Agency. However, spending on renewables and energy-efficiency initiatives have slowed and the agency notes that its findings are at odds with global efforts to achieve targets set under the Paris Agreement.
Indian vice president calls for Asian countries to lead on clean technology
Asia is home to more than 60% of the world’s population, about half of whom live in cities and towns. With climate change being largely driven by urban centers, Vice President Naidu called upon governments across the continent to build climate resilient communities.
Fossil fuel financing on upward trajectory with trillions invested since 2015
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.
New Zealand identifies 11 GW solar potential
The nation already meets well above 80% of its electricity demand from renewable energy. With e-mobility and electric industrial processes on the rise, higher demand has created new development opportunities.
Industry urges policymakers to catch up with technology at COP24
The Global Solar Council has released a 15 point plan, which is largely policy focussed, alleging that the industry has down its homework to slash the costs of solar. Now its policies turn to even the playing field. In a similar effort, the World Future Council has announced that it will launch a new platform for policymakers and the industry to enable an ongoing dialogue.
Over 400 investors call on world’s leaders to address climate change
A total of 414 investors managing US$32 trillion in assets have called on the world’s policy makers to take action against climate change. It has been called the “single largest policy intervention” of its kind.
A vision of carbon neutral power around the globe by 2050
A scenario in which no additional oil, coal or nuclear capacity is built and renewables grow at a pace of 3-4%, would see solar comprise 69% of the global electricity system by 2050. According to an EU thinktank, such an effort would boost European manufacturing, creating jobs and prosperity.
EU Commission presents plan to go carbon neutral by 2050
As part of its Paris Agreement obligations, the EU Commission has presented a carbon-neutral vision for 2050, which encompasses GDP growth through smart investments and public health savings.
French turn on nuclear opens €45 billion renewables investment opportunity
The French government is expected to show a draft plan on how to achieve nuclear generation reduction plans. After minister Hulot left the government in August, amidst disagreements with Macron’s handling of the nuclear lobby, the parliament has voted for a bill to reduce nuclear generation capacity. If the plans are realized in compliance with the climate targets, solar and wind deployment could grow significantly.
IPCC: 1.5°C limit needs rapid and far-reaching action, but enables SDG progress
The Intergovernmental Panel on Climate Change (IPCC) has released a new report on different ways global warming can be kept within the 1.5°C limit. The panel seeks to inform policymakers before the upcoming COP24 in Poland this December. Resulting from their analysis, the 91 authors state that drastic action and significant investments are needed. Such climate action across all sectors would have significant positive effects on sustainable development progress, they say.
