Tag: net zero emissions

Australia Energy Policy Review 2023

Australia Energy Policy Review 2023

April 21, 2023 | ,

Since the IEA’s last review in 2018, Australia has significantly raised its climate ambitions, with the 2022 Climate Change Act doubling the target for emissions reductions by 2030 and setting the goal of reaching net zero emissions by 2050. To match these increased ambitions, Australia is seeking to update its existing strategies, starting with the preparation of a new emissions reduction plan for 2050. Such efforts would support both climate and energy security goals.

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These 8 countries have already achieved net-zero emissions

These 8 countries have already achieved net-zero emissions

January 8, 2023 |

Global action to combat climate change has prompted a wave of national commitments to reach net zero: the US and many others are targeting 2050, with countries like China and India decades later. But a handful of ‘carbon sink’ countries already have their emissions in check. Net zero emissions is achieved when more carbon dioxide is absorbed from the atmosphere each year than is emitted. Reaching net zero on a global scale is a central part of efforts to prevent global warming exceeding the 1.5C climate target.

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How does Indonesia’s JETP compare to net zero pathways?

How does Indonesia’s JETP compare to net zero pathways?

November 23, 2022 |

The Indonesian JETP raises the country’s ambition for power sector decarbonisation and closely aligns to a pathway that delivers Indonesia’s target of net zero by 2060. At the G20 summit in Bali – and on the same day as COP27’s Energy Day – Indonesia announced its ‘Just Energy Transition Partnership’ (or JETP). The groundbreaking deal secures $20bn funding from the US, Japan and others to help Indonesia accelerate the transition from coal to clean electricity.

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How to close the world’s $1 trillion renewable energy gap

How to close the world’s $1 trillion renewable energy gap

September 23, 2022 |

Access to capital continues to be a challenge for solar in EMDE. Like the infrastructure sector, solar is capital intensive and has a long gestation period and generates spillover benefits which for various types of investors is not suitable. In addition, banks – key financiers in the EMDE – are structurally unwieldy for financing solar projects: They limit their long-term loans as their liability duration impedes them from lending to the sector for the long term.

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Pathways to Achieve 100% Clean Power in the US by 2035

Pathways to Achieve 100% Clean Power in the US by 2035

September 7, 2022 |

Wind and solar provide most (60%–80%) of the generation in the least-cost electricity mix in all the main scenarios. Nuclear capacity more than doubles in the Constrained scenario, reaching 27% of generation, while limited growth in the other three core scenarios results in a contribution of 9%–12%, largely from the existing fleet. The overall generation capacity grows to roughly three times the 2020 level by 2035, including a combined 2 TW of wind and solar.

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Country Climate and Development Report for Vietnam

Country Climate and Development Report for Vietnam

August 23, 2022 | ,

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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UK 2022 Green Finance Strategy: Briefing

UK 2022 Green Finance Strategy: Briefing

August 12, 2022 | ,

The UK has led the way on green finance. It has committed to creating the world’s first Net Zero Financial Centre and a Net Zero Financial System, and implementing several progressive green finance reforms. However, the UK is yet to set out a comprehensive plan for how it will deliver finance for the transition across the country. The 2022 Green Finance Strategy must set out how the UK will invest to reach net zero by 2050.

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The road to net zero heavy industry sectors in G7

The road to net zero heavy industry sectors in G7

May 22, 2022 |

G7 members alone cannot deliver net zero heavy industries globally, but they can make a pivotal contribution. The IEA’s Net Zero by 2050 roadmap lays out a pathway to net zero emissions by 2050 – but not necessarily the pathway – in which global industrial CO2 emissions decline by nearly 95% by 2050. The G7 produces 17% of the world’s steel, 8% of cement and 28% of primary chemicals.

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JERA plans to invest $1.4 billion to develop 1 GW solar power

JERA plans to invest $1.4 billion to develop 1 GW solar power

February 3, 2022 |

JERA, Japan’s power generator, announced that it will invest $1.4 billion over the next five years to create 1 GW of solar power farms in Japan, in collaboration with local energy developer West Holdings Corp. To help combat climate change, JERA also plans to increase its renewable energy capacity to 5 GW by 2025, up from approximately 1.5 GW presently.

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50% Emissions Reduction Club: US, Japan, Canada, South Korea

50% Emissions Reduction Club: US, Japan, Canada, South Korea

April 15, 2021 |

The fast-approaching Climate Summit hosted by President Biden offers a tremendous opportunity for some of the world’s biggest contributors to climate change to up their game, raise their climate commitment—and join the “50 Percent Club.” That is a group of countries committing to cut their emissions by at least half by 2030 on a path to net zero emissions no later than 2050. The U.S., Japan, Canada, and South Korea are poised for such a bold move…

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India-based ReNew Power targets net zero emissions by 2050

India-based ReNew Power targets net zero emissions by 2050

April 9, 2021 |

India’s leading renewable energy IPP, ReNew Power, has announced its committment to achieve net zero greenhouse gas emissions by 2050. The company’s latest announcement aligns with the ‘Race To Zero’ campaign which is a global alliance committed to achieving net zero carbon emissions through leadership and support from businesses, investors as well as cities and regions.

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Southern California Gas Company sets bold net zero emissions pledge

Southern California Gas Company sets bold net zero emissions pledge

March 24, 2021 |

The Southern California Gas Company (SoCalGas), the largest gas utility in the US, has announced the company’s bold commitment to achieve net zero greenhouse gas (GHG) emissions in its operations and delivery of energy by 2045. This commitment makes SoCalGas the largest gas distribution utility in North America to set a net zero target including scopes 1, 2, and 3 GHG emissions, which would eliminate not only its own direct emissions, but also those generated by customers’ energy delivered by SoCalGas’ energy infrastructure.

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