Audio Policy - 20/May/2020

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

As the UK was getting ready to host the latest international climate talks, COP26, in Glasgow in November 2020, Prime Minister Boris Johnson vowed the country would halt all foreign aid for coal-powered plants and coal mines (the talks were postponed until 2021 because of the Covid-19 pandemic). His commitment was both headline-grabbing and disingenuous. The UK has already virtually halted such financing for coal projects since 2002, although some British public money does still flow to oil and fossil gas projects overseas. ...

 

Read full article

Already a subscriber?

Login

Share


Comments are closed.

Related articles

Spring/Summer 2020

Getting the finance to flow

Read more

A pale green bond for the energy transition

The concept of transition bonds began as an idea to sell bonds that were difficult to market as green bonds, mainly natural gas bonds, but has evolved into an opportunity to accelerate decarbonisation efforts

Read more

Central banks swept up in climate action debate

Many believe the ECB and other central banks should bring climate considerations into the rulebook governing what they support and how

Read more

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

Read more

Climate justice is the heart of climate action

The idea the transition to a clean energy economy should also be as fair as possible to everyone has, until now, been seen by many as a nice to have. Andrzej Blachowicz and Julie-Anne Hogbin from Climate Strategies argue developing countries in particular can achieve greater and more inclusive climate action by placing the just transition at the heart of their climate plans

Read more

Covid, climate and hopes for recovery

Despite the constant flood of bad news related to Covid-19, there are signs we are also witnessing unprecedented global dialogue, innovation and collaboration, offering hope that climate change and clean energy can be at the forefront of post-pandemic plans, says Mark Watts, Executive Director of C40 Cities

Read more

Danish firms want regulatory rewards for climate action

Politically there is broad support in Denmark for financing the green transition through taxes and a carbon emissions tax proposal has been welcomed by parties across the political spectrum, but industry opposition could ultimately quash the idea

Read more

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

Read more

EU ushers in game-changing financial rules

An EU taxonomy to define green investments is expected to enter into force in 2021, but some experts want it to be used immediately to inform stimulus packages aimed at dealing with the social and economic fallout from the Covid-19 pandemic

Read more

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

Read more

Getting the finance to flow

To create demand for sustainable finance, governments should integrate climate criteria into their procurement and in how they draft policies and regulations

Read more

Using trade measures for climate gain

Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions

Read more

What Covid-19 can teach us about climate action

The impact of Covid-19 on decarbonisation efforts is likely to be short-lived if governments can learn lessons around the effective response to a crisis, says Paul Micallef Global Digital Grid Leader at EY

Read more