Tag: climate change

Securing Energy Supplies in UK: Report

This report outlines the ‘energy trilemma’ of affordability, security, and climate challenges facing the UK. It scrutinises the Government’s British Energy Security Strategy and its policies on oil and gas extraction on the UK Continental Shelf. The authors expect the recommendations in this report to inform the Government’s revised Net Zero Strategy which it is required to publish by the end of March 2023.

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Nigeria’s Renewable Energy Roadmap

International Renewable Energy Agency (IRENA)’s report titled “Renewable Energy Roadmap: Nigeria” published in January 2023 sheds light on how Nigeria’s economy is making efforts to increase uptake of renewables. It also provides a roadmap for the country using two scenarios. REGlobal provides a brief extract of the report.

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Blueprint for US Transportation Decarbonization

The Biden-Harris administration published The Long-Term Strategy (LTS) of the US in November 2021. It is a visionary climate strategy that outlines a plan to tackle the growing climate crisis by decarbonizing the national economy. In January 2023, “The U.S. National Blueprint for Transportation Decarbonization: A joint strategy to transform transportation” was released. REGlobal provides a brief extract of the report.

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America’s Top Companies Are Using Solar and Storage to Meet Their Climate Goals

The bar is rising for corporate climate goals. Eighteen of the top 25 companies ranked in this year’s report are pursuing 100% renewable energy or carbon neutral goals. Some of the leading companies are already achieving their targets. For example, this year’s top solar adopter Meta has powered its global operations with 100% renewable energy since 2020 and is now working toward a net zero emission value chain by 2030.

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Could the Energy Transition Benefit Africa’s Economies?

As the world’s youngest continent, IRENA’s report Renewable Energy Market Analysis: Africa and its Regions, reveals a global reduction in carbon dioxide emissions in line with the Paris agreement could have a significant, positive impact on gross domestic product (GDP), job creation, and welfare across Africa, through ways such as reduced climate impacts, improved public health, and the creation of new industries that support the Energy Transition in and outside of Africa.

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What’s in the Inflation Reduction Act for utilities?

The Inflation Reduction Act (IRA) is the single largest action ever taken to mitigate the impacts of climate change in the United States. The federal government is deploying hundreds of billions of dollars to marshal economic and industrial policies in support of clean energy and to accelerate economy-wide decarbonization. But President Biden signing this bill into law is only the beginning.

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Climate Finance in Nigeria: Report

This report, part of the State of Climate Finance in Africa series, provides a deep dive analysis of tracked climate finance in Nigeria in 2019/2020. While data gaps limit a fully comprehensive assessment, the key purpose of this case study is to inform and facilitate discussions among policymakers and public and private financiers, identifying gaps and opportunities for scaling climate finance in Nigeria.

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Delivering the low-carbon transition in emerging markets and developing economies

A review of the impact and achievements of some trailblazing governments, corporates, investors, and civil society across EM&DEs over the last decade also reveals the opportunities that transitioning to a low-carbon economy can generate. In this piece, the authors provide Macquarie’s perspective on why supporting decarbonisation in EM&DEs is central to global climate change mitigation efforts.

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Energy Charter Treaty: E3G Briefing

Given the necessity to grow non-fossil energy investment in Europe to handle the current crisis and the urgency to act on climate change, the EU and UK cannot afford a treaty that limits their agency in driving the necessary change. They must thus agree on a coordinated withdrawal from the Treaty. This E3G briefing explores what is needed for the ECT to be aligned with the Paris Agreement and why the reform still falls short.

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Climate Finance for Just Transitions: Briefing

This paper “Climate Finance for Just Transitions: Building Low-Carbon Development Pathways in an Age of US-China Rivalry” by the Nicholas Institute for Energy, Environment & Sustainability investigates challenges throughout the international climate finance landscape and recommends pathways for how investments into low- and middle-income countries (LMICs) can more effectively drive low-carbon development. 

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Re-Imagining Europe’s Energy System: Goldman Sachs Report

Can Europe strengthen its energy independence in the face of the Russia-Ukraine crisis without compromising its climate change goals? Goldman Sachs Research uses its Carbonomics framework to model the evolution of Europe’s energy system towards a lower cost, lower imports, lower carbon system. Goldman Sachs Research analysis leads to five main conclusions.

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Germany remains committed to its existing climate and power sector decarbonisation targets

When taking office in late 2021, the German government announced plans to pass sweeping energy sector reforms in 2022. The energy crisis that erupted after the Russian invasion of Ukraine accelerated this legislation process further and necessitated additional efforts to safeguard supply security and cutting dependence on natural gas from Russia. This article summarises the ongoing rapid changes and dynamics of Germany’s energy sector.

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US Climate Law Ushers in New National Green Bank

The passage of the Inflation Reduction Act (IRA) is a long-overdue step toward establishing a national green bank that will unleash tens of billions of public and private dollars for investment in clean energy and climate-resilient infrastructure in underserved communities. In addition to supporting economic development, these investments will reduce air pollution and improve the health and safety of communities.

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Country Climate and Development Report for Vietnam

Pursuing a climate-resilient and net zero emissions development pathway is estimated to require additional investments of about 6.8 percent of GDP, or a cumulative US$368 billion through 2040. With the right mix of policies and strategies, Vietnam can leverage its decarbonization efforts to advance development objectives so that achieving net zero emissions does not reduce GDP growth.

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Indonesia Green Taxonomy 1.0: Yellow Does Not Mean Go

A green taxonomy is a list that classifies all business activities based on their contribution to environmental aims and thresholds. Launched in January 2022, Indonesia’s Green Taxonomy 1.0 has been designed mainly as a guidance, rather than a mandatory instrument. This, however, may expand in the future, for example, through mandatory disclosures of taxonomy-relevant investment portfolios.

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International Collaboration for Net Zero in ASEAN

The brief emphasises the need for international and regional cooperation. International collaboration, combined with financial and technical assistance, is critical in addressing both the challenges and opportunities to support the low carbon energy transition and net zero goals. It can help bridge gaps and strengthen capacities, both financial and human capital, and assist the ASEAN Member States (AMS) in achieving their energy and climate objectives.

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Political economy of US green industrial planning

E3G has released a briefing paper titled “The Political Economy of US Green Industrial Planning: Building State Capacity for Deep Decarbonization”. This briefing outlines the opportunities to embed deep decarbonization, as well as the risks. It concludes with recommendations for three priority capacities to build: public financing and asset management; supply chain and productive capacity monitoring; and formalized sectoral investment targeting and coordination.

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South Africa: Hydrogen Roadmap – A Crucial Step in the Energy Transition Journey

In February this year, the South African Hydrogen Society Roadmap (HSRM) was published by the South African government. As the country navigates its energy transition, the Roadmap is considered to be an important marker on its path towards implementing hydrogen development, which is envisaged to be at the centre of South Africa’s strategy for economic growth and mitigating climate change.

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Greater Scope for Renewables in ASEAN

Solar and wind generated only 4% of the ASEAN 5’s electricity last year, lagging behind peers like China (11%) and India (8%). Among the ASEAN 5, only Viet Nam (11%) exceeds the world average in solar and wind, which generated 10% of global electricity for the first time in 2021. The rest is still below 5%. The vast potential of clean energy in the ASEAN 5 is unfortunately not reflected in its latest 2030 plans.

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Cost of geothermal to remain high in comparison to wind and solar

Over the past decade, the installation cost of geothermal power plants has increased, from USD2,620 per kW in 2010 to USD4,468 per kW in 2020. According to IRENA, geothermal is the second most expensive renewables type by installation cost, closely behind concentrated solar power’s 4,581 USD per kW in 2020.

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