Legislation - 02/September/2019

The transition jigsaw: Part 1 – The role of government

Enshrine stability and predictability in law to ramp up investment

The transition from a fossil fuel-based economy to one powered by renewable energy fast enough to stop runaway climate change can only be achieved by action from everybody. In a three-part series we examine the roles to be played by governments, business and investors, and civil society. This week, we focus on the urgent need for administrations around the world to step up and implement the right policies in ambitious legislation that offers market stability

Action: Governments must show leadership, introduce legislation that honours commitments under the Paris climate agreement and pull others along with them. Lawmaking needs to be ambitious, timely and offer stability to businesses and financial markets

Support: Lawmaking should also offer the necessary backing to the technologies needed for the clean energy transition

Key quote: The core element is stability, durability and predictability. Governments around the world have a great opportunity in the next two years to set frameworks for policies that can provide that predictability

Lauded for its historic nature, the Paris climate agreement is just the beginning of the next chapter of global climate lawmaking. The accord is “an international success and vital to drive action forward in the future”, says Nat Keohane, Washington, DC-based senior vice-president at the Environmental Defense Fund, a not-for-profit organisation. But, he adds: “It can only be given life if governments really start leaning in to this. We need to get major emitters not just doing more than they have said they will do, but also leading others.” He cites China’s decisions to introduce emissions trading, reduce emissions intensity (emissions per unit of GDP) and increase its uptake of renewables, plus India’s investments in solar and wind power as “bright spots”. But insists: “Overall the pace is not fast enough.”

Some governments have opted to enshrine their climate goals in law. The UK was the first nation to pass a climate bill with its 2008 Climate Change Act. It set a goal to reduce the six greenhouse gases identified under the 1997 Kyoto climate protocol (carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, sulphur hexafluoride and perfluorocarbons) to 80% below 1990 levels by 2050. The original UK act was superseded in June 2019 by the signing into law of the goal to reach net zero emissions by 2050. Turning this into reality will require sweeping changes across the economy.

The UK’s advisory Climate Change Committee warned in early July 2019, however, that efforts to transition from a fossil fuel to a clean energy economy are lagging and deemed the next 18 months as critical. In a parliamentary report, the committee says that meeting the net zero goal “is contingent on early and decisive action to strengthen policy”. It adds: “Actions to date have fallen short of what is needed for the previous targets and well short of those required for the net zero target.”
...

Read full article

With a subscription you not only buy perspectives on the energy transition unavailable elsewhere, you also support independent and much needed expert journalism focused on achieving a global decarbonised energy economy

 

DIGITAL MONTHLY
€12/month
Unlimited access anywhere.
Unsubscribe anytime
Introductory offer: 30-day FREE TRIAL
DIGITAL + PRINT
€99/6 months + 1 magazine
Unlimited access anywhere. +Biannual high-class magazine including original art and photo essays.
Free shipping worldwide
Introductory offer: 30-day FREE TRIAL
DIGITAL YEARLY
€119/year
Unlimited access anywhere.
Unsubscribe anytime
Introductory offer: 30-day FREE TRIAL

 

Learn about group pricing. Click this link

Already a subscriber?

Login

Share


Comments are closed.

Related articles

Fossil fuel subsidies must end for a clean energy transition to take root everywhere, insists Frank Rijsberman, head of the Global Green Growth Institute

Developing countries can leapfrog to a clean energy economy

Fossil fuel subsidies must end for a clean energy transition to take root everywhere, insists Frank Rijsberman, head of the Global Green Growth Institute

Read more

Down on the solar farm

Cost benefit proved for combined solar and arable

Read more

How the EIB can become Europe’s climate bank

The new European Commission President Ursula von der Leyen has promised a Green Deal for Europe. For it to be truly green, it will have to be fossil fuel free and this means cleaning up the European Investment Bank. The development bank this summer proposed phasing out support for oil and gas projects. Colin Roche from Friends of the Earth Europe urges the EIB board to back the plan when it meets in September

Read more

Solar skins for zero energy buildings

Solar skins for zero energy buildings

Inspiring architects to make buildings green and good looking

Read more

Technological innovation is key to the wind industry reducing reliance on rare earth materials from China

Wind industry prepares for “bottlenecks and price hikes” in rare earth metals

Technological innovation is key to the wind industry reducing reliance on rare earth materials from China

Read more

Processing...
Thank you! Your subscription has been confirmed. You'll hear from us soon.
SUBSCRIBE TO NEWSLETTER
Sign up to the FORESIGHT Climate & Energy Newsletter. Get free opinion pieces and photo essays. You will also be the first to know when new expert articles are published.
ErrorHere