Energy in Demand News, October 8, 2023

As we get closer to COP28 in Dubai, there are some disturbing signs. For example: the US and China  failed to pledge to the UN Green Climate Fund (most countries, including Germany, Austria and France, increased their pledges, while Denmark, Ireland and Liechtenstein doubled theirs but total pledges still did not reach target); Russia says it will oppose plan to phase out fossil fuels; UAE proposes to host UN climate summit for second year as Russia blocks talks; to name but a few latest developments. Meanwhile, as mentioned in one of this week’s posts, there is a worrying backlash to the European Green Deal. All this is happening when we had the hottest ever September by an ‘extraordinary’ 0.5C margin and 2023 is on track to be the hottest year on record. Worryingly, on about a third of days in 2023, the average global temperature was at least 1.5C higher than pre-industrial levels.

For an assessment of the state of play for fossil fuels ahead of COP28, check out IISD’s energy update.

Continuing with the British government’s rollback on net zero targets, it was good to see that the market has different ideas. In an article on The Telegraph website (behind a paywall), banks are sticking to green pledges that require borrowers to spend thousands making their homes more energy efficient: “despite Mr Sunak scrapping or pushing back a string of net zero requirements, including the looming rules for landlords, large lenders including Nationwide Building Society and NatWest are still sticking to pledges to make 50pc of their mortgage customers’ homes EPC rating C or more by 2030.” Furthermore: “It means mortgage customers whose homes do not meet the standard face spending thousands on upgrades such as insulation, double glazing and heat pumps.” The article goes on: “When asked if it was sticking to its EPC pledge, a NatWest Group spokesman said: “We are focussed on creating tools and products that make it as easy as possible for our customers to buy energy efficient properties and to retrofit their homes.”

Philip Dormer Stanhope, 4th Earl of Chesterfield (1694-1733), a British statesman, diplomat, man of letters, and an acclaimed wit of his time, gives us his views on learning: “ Learning is acquired by reading books; but the much more necessary learning, the knowledge of the world, is only to be acquired by reading man, and studying all the various editions of them.”

With so many people on the move this year, here is some useful news to help you along:

EiD welcomes your views about this week’s selection of posts on the zero-carbon energy transition:

·       New EEA briefing on why a thoughtful approach to participation is needed for sustainability transitions

·       Can we learn anything from past energy transitions?

·       The worrying backlash to the European Green Deal

·       Seeking to ensure there will be a guarantee of free speech at COP28

·       Australia has an enormous opportunity in decarbonising quickly

·       The EU’s anti-subsidy investigation of EVs from China is risky

·       Postponing action and taking a slower route to net zero emissions by 2050 will worsen the climate crisis

·       Understanding Biden’s newly created American Climate Corps

·       The shipping industry faces great challenges in making this shift to green fuels

Please send us your comments on any of the posts. EiD hopes you to follow us on X at @EnergyDemand and @rodjanssen. Please recommend EiD to your friends and colleagues.

 

 

 

 

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