Audio, Finance

Development banks struggle with fossil fuel lock-in

Development banks directed $50 billion of funding to fossil fuel projects in the five years to the end of 2018, almost as much as the $58 billion they invested in clean energy

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What Covid-19 can teach us about climate action

EU ushers in game-changing financial rules

Making the EU ETS and carbon pricing fit-for-purpose

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We face a fundamental change of the cost structure on the supply side and a need for a fundamental change.

Jochen Kreusel

- Market innovation manager in the power grids division at ABB Power

They [the European Commission] are looking at this stuff backwards. I still think they are convinced the short-term market model could work even though they are also starting to realise that you need something parallel, with long term price signals that give investors confidence to invest in infrastructure and allow them to see a decent market return.

Francesco Venturini

- Global head of renewables for Italian utility Enel

Despite tremendous cost decline of wind and solar technologies, electricity prices will probably remain too low to attract the level of investment needed.

Fatih Birol

- Executive director of the International Energy Agency

The greatest barrier to overcome is the integration of variable renewables into electricity systems. This will require developing power system flexibility and also a friendly deployment of variable renewables.

Fatih Birol

- Executive director of the International Energy Agency

Why clean hydrogen can be part of the just transition

In an EU that aims to be carbon neutral by 2050, production of green hydrogen can be a new job creating industry, argues Tjisse Stelpstra, Member of the Council of the Province of Drenthe in the Northern Netherlands, providing an economic boost for regions like his and Europe as a whole.

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Staying committed to renewables makes investment sense

Despite the massive economic downfall as a result of the Covid-19 pandemic and lockdown, there remains strong demand for renewable energy assets, suggesting the sector will not suffer as it did after the 2008 recession

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The dirty British energy secret

The UK is often cited as a leader in the transition to a clean energy economy, even though some British public money still flows to oil and fossil gas projects overseas

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China: the elephant in the coal room

China has pledged to peak carbon emissions by 2030 at the latest, but its economic plan for 2021-2025 is expected to approve the building of more coal-powered plants

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Finance dries up for coal, but flows on for oil and gas

COVID-19 may have reduced emissions in the short-term, but much more needs to happen to slash fossil fuel use to meet climate targets

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Responding to the growing demand for methane-differentiated gas

As methane emissions from the oil and gas sectors come under increasing scrutiny, Cate Hight and Laura Hutchinson from the Rocky Mountain Institute, a US-based NGO, call for a differentiated gas standard that focuses on climate change and sets the bar for acceptable methane emissions

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Transition to just

The clean energy transition must be socially fair for everyone, not just those living in regions that are heavily reliant on coal for fuel and jobs, says Louise Sunderland from Regulatory Assistance Project

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Making the EU ETS and carbon pricing fit-for-purpose

Recent Eurelectric analysis reveals the need to reconsider and improve a number of policies and priorities as part of the European Green Deal — the EU Emissions Trading System and an effective carbon pricing for non-ETS require careful consideration, says Petar Georgiev, Eurelectric Policy Advisor climate & e-mobility

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Opinion

Reducing emissions while creating jobs

With strong leadership from government, the world can achieve a 100% clean energy economy and get out of the recession caused by Covid-19 measures, argues Solomon Goldstein-Rose, a US climate activist and author

Using trade measures for climate gain

Financing smart buildings: contributing to your core business

What Covid-19 can teach us about climate action

Spring/Summer 2020

EU ushers in game-changing financial rules

Managing crises by learning fast – from COVID-19 to climate

Covid, climate and hopes for recovery

The vaccine to future crises is sticking to climate neutrality

Getting the finance to flow

Responsible investors see greater role after pandemic

Covid-19: Fear of debt should convince governments to go green

What our editors are reading

Save contained carbon by reusing buildings

Reports

Huge quantities of captured carbon can be saved if buildings are not demolished, explains a booklet newly translated into English by the Norwegian Green Building Council. More than 22,000 buildings are demolished each year in Norway. Buildings can be seen as materials banks, says the report. Refurbishment is the first step towards closing the flow of materials and adapting to a circular economy. The EU – of which Norway is not a member – stipulates that starting in 2020, 70% of all construction waste must be recycled.

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Renewables feel the Covid crunch

Reports

The number of new renewable installations is set for its first annual decline this year, as the Covid-19 pandemic slows projects globally. Net additions are poised to drop 13% year-on-year – but still see an overall increase in renewable energy installed capacity of 6%. The bulk of new additions this year are solar and wind (86%). Projects delayed in 2020 are forecast to come online next year, which will see the rate of new installations return to 2019 levels. However, the IEA predicts longer-term issues around the availability of financing for new projects out to 2025.

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Progress on energy transition is significant in most countries

Reports

The World Economic Forum’s annual energy transition index (ETI) finds that 94 of the 115 countries monitored have improved their ETI score during the past six years. They represent more than 70% of the global population and 70% of global CO2 emissions from fuel combustion. The likes of Argentina, Bulgaria, China, the Czech Republic, the Dominican Republic, India, Ireland, Italy, Slovakia, Sri Lanka and Ukraine, have made steady progress since 2014. Emerging demand centres like India and China show strong improvement, while Brazil, Canada, Iran and the United States are either stagnant or declining.

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