This week the Financial Times reported (behind a paywall) that oil and gas companies face “virtually no extra borrowing costs compared with less polluting companies, despite efforts by the UN and international organisations to encourage banks and big investors to reduce their lending to the fossil fuel sector which is behind global warming.” The S&P Global Ratings agency was quoted: “Environmental concerns seem to be far from the most important factor for funding oil and gas companies.” The article continues: “Climate-related financial initiatives such as the Glasgow Financial Alliance for Net Zero, a coalition of banks established in 2021 to coincide with the UN climate summit and led by former Bank of England governor Mark Carney, have “yet to impact capital market access for oil and gas issuers”, S&P found.” When is this going to change?
COP28 in Dubai starts November 30. The Earth Negotiation’s Bulletin of the International Institute for Sustainable Development (IISD) provides a good video on what to expect.
The eceee Zero Carbon Industry event will take place 30–31 January 2024 in Antwerp, Belgium. There is one day left to submit an abstract. No need to panic. Just do it.
With so many people on the move this year, here is some useful news to help you along:
- It is encouraging to see the growing demand for train travel. Euronews provides us with the best new European train routes launching in 2023 and 2024.
- For those interested in a nice hike through Europe, Moon and Honey Travel recommend 22 best day hikes in Europe.
- If you’re interested in a cycling trip this year, have a look at the Best Cycling Destinations in Europe.
- For those travelling in the US, Lonely Planet provides 9 of the most incredible train journeys in the USA.
- SlowWays in Britain is a network of walking routes that connect all of Britain’s towns, cities and national parks. Over 130,000 km of routes join up all of Great Britain’s towns and cities. There is even an app available for your phone.
While there are still a few leaves left on trees, remember the seasonal message from Albert Camus (1913-1960), an Algerian-French philosopher, author, dramatist, journalist, and political activist: “Autumn is a second spring when every leaf is a flower.”
EiD welcomes your views about this week’s selection of posts on the zero-carbon energy transition:
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Energy in Demand - Sustainable Energy - Rod Janssen 