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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. ...
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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
Many believe the ECB and other central banks should bring climate considerations into the rulebook governing what they support and how
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
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
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
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
The world’s development banks are funnelling ever-greater volumes of finance into clean energy — but the challenge of shifting entire economies away from climate-wrecking activity and towards actions that align investment goals with those of the Paris Agreement requires a more holistic approach
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
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
To create demand for sustainable finance, governments should integrate climate criteria into their procurement and in how they draft policies and regulations
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
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
