Financing the climate and energy transition is facing ever more difficulties – as I’m sure you see in your own country. At the global level, COP26 in Glasgow approved the Just Energy Transition Partnerships, a landmark climate finance framework endorsed by world leaders as a way to fund the green transition in poorer countries. However, as reported in the Financial Times (behind a paywall), the initiative is struggling to raise capital. The FT reports that the “Rockefeller Foundation warned in a report on Thursday that the JETP model “may not be scalable” in its current form, blaming a lack of consistent support from multilateral development banks and the premature announcement of deals by political leaders before funding had been secured.” The FT goes on: “A new approach to “delivering real new money on the table” was needed, said Ashvin Dayal, who leads Rockefeller’s power and climate work.” The clock is ticking. Surely this must be remedied urgently.
The FT also highlighted Danish climate minister, Dan Jørgensen, in one of its newsletters. Following last week’s proposal by the European Commission to cut GHG emissions by 90 per cent by 2040, compared to 1990 levels, the FT writes: “But it made no mention of the impact that the accession of Ukraine and eight other candidate countries would have on emissions targets. . . . Dan Jørgensen said that it was clear that EU enlargement would impact “everything”. “We need to start taking that into account already . . . in making our targets and legislation,” the Danish climate minister said.” Furthermore, “Jørgensen . . . sees the accession of Ukraine and others not as a hindrance to climate ambition but “as a chance”. “If the EU is enlarged it means that we have more countries that will stand behind the ambitious targets,” he said.”
In upcoming weeks there are two events not to miss. In early March there is the European Energy Efficiency Conference which is part of World Sustainable Energy Days. In June, eceee has its biannual summer study. Check out details on the two events here.
In planning travel over the upcoming weeks, here is some useful news to help you along:
- The inews website provides Europe’s most exciting new rail routes for 2024.
- For winter walking, the Responsible Travel website gives you many interesting options.
- The EuroBikes website describes winter cycling tours.
- There is always the option of virtual tourism at the Xplore Nature Channel that EiD first promoted back in September. There are now 128 videos. Find out more about the channel here.
Galileo Galilei (1564-1642), the Italian physicist and astronomer, gives us something to think about: “All truths are easy to understand once they are discovered; the point is to discover them.”
EiD welcomes your views about this week’s selection of posts on the zero-carbon energy transition:
- Plastics producers deceived public about recycling, report reveals
- Almost one-in-three renewables professionals already use AI technologies
- Britain’s navy is considering introducing compulsory climate change courses for all sailors
- Yes, AI systems consume a lot of energy but they also can be a force for good in addressing climate change
- E-bikes could transform the way people experience rural areas and reduce the negative environmental effects of tourism
- Hemp is being touted as a building material for housing that may avoid some of the environmental, logistic and economic downsides of concrete
- Czech steel industry is unprepared for decarbonisation both technologically and financially
- How some fungi can help the environment and become the basis for a variety of eco-friendly industries
Please send your comments on any of the posts. Please follow us on X at @EnergyDemand and @rodjanssen. Please recommend EiD to your friends and colleagues.
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Energy in Demand - Sustainable Energy - Rod Janssen 