China, the largest emitter of greenhouse gases, is also the largest user of energy and amid this, the country's growing population is putting pressure on Beijing to amend plans to fulfil its ever-growing energy needs. China's subsidy policy was mostly to cover excessive installation and production costs of renewable energy but the country has decided … Continue reading China’s removal of renewable energy subsidy will affect fight against climate change
Category: climate finance
Irish government launches the National Retrofitting Scheme
The Irish government recently approved a package of supports to make it easier and more affordable for homeowners to undertake home energy upgrades, for warmer, healthier and more comfortable homes, with lower energy bills. The measures address barriers to undertaking energy upgrades (retrofits) reported by homeowners and those working in the industry. They also reflect the step-change needed – in … Continue reading Irish government launches the National Retrofitting Scheme
The price of European carbon allowances (EUAs) is not yet high enough to drive structural decarbonisation
With high energy prices dominating the political agenda and politicians in certain EU member states training their sights on the bloc's carbon market, there is one salient fact being missed in all the hubbub: ETS emissions likely increased by 6% in 2021, and are set to rise further again this year. Self-evidently, this means that … Continue reading The price of European carbon allowances (EUAs) is not yet high enough to drive structural decarbonisation
New study highlighting “vast energy inequality” between rich and poor countries points to “climate hypocrisy”
A recent study found that each Briton produces 200 times the climate emissions of the average Congolese person, with people in the US producing 585 times as much. Yet, as recently as COP26, there was lots of hand-wringing by rich countries about the extent to which aid and other development finance should finance fossil fuels … Continue reading New study highlighting “vast energy inequality” between rich and poor countries points to “climate hypocrisy”
As climate stress tests become increasingly common, their findings and implications will reverberate across the entire financial industry
Ryan Riordan, Professor & Distinguished Professor of Finance, Research Director at the Institute for Sustainable Finance at Queen's University in Ontario discusses the value of stress tests in an article on The Conversation website. What is a climate stress test? A sustainable finance expert explains Imagine this: You take out a mortgage to purchase your … Continue reading As climate stress tests become increasingly common, their findings and implications will reverberate across the entire financial industry
New McKinsey report says reaching net zero is vital to avoiding the most catastrophic impacts of global heating and the transformation becomes more expensive the longer action is delayed
In a new report by McKinsey, the global management consulting company, they look at the economic transformation that a transition to net-zero emissions would entail—a transformation that would affect all countries and all sectors of the economy, either directly or indirectly. Damian Carrington discusses the report in an article on The Guardian website. McKinsey: … Continue reading New McKinsey report says reaching net zero is vital to avoiding the most catastrophic impacts of global heating and the transformation becomes more expensive the longer action is delayed
African nations continue to hold the unenviable position of being disproportionately vulnerable to climate change
Margaret Kadiri, Lecturer in Physical Geography at King's College London writes on The Conversation website about the challenges faced by African countries in addressing climate change. Africa faces an uphill battle against western emissions to combat climate change The UN climate summit COP26, held in November 2021, focused the world’s attention on the urgent need … Continue reading African nations continue to hold the unenviable position of being disproportionately vulnerable to climate change
Europe energy savings practices for business is inefficient, auditors say
Kate Abnett reports on the Reuter’s website that auditors have found that significant EU funding to help businesses save energy were misspent in the 2014-2020 budget. The auditors estimated that projects backed by that funding achieved only 0.3% of the annual savings needed to reach the EU's target to cut final energy consumption by 32.5% … Continue reading Europe energy savings practices for business is inefficient, auditors say
“The UK public want urgent action on climate change, but may not yet be fully aware of the implications for individuals of doing so.”
A recent Ipso Mori survey finds that people have become noticeably more concerned in the past year after a string of extreme weather events. The survey also finds that while people are in favour of drastic measures to help the country become net zero by 2050 in theory – when they realise the cost and … Continue reading “The UK public want urgent action on climate change, but may not yet be fully aware of the implications for individuals of doing so.”
EU taxonomy proposed change is a “recipe for a greenwashing disaster”
The leaked EU Sustainable Finance Taxonomy proposal for a complementary Delegated Act sets out the role of fossil gas, two devastating scenarios emerge – both a far cry from net-zero by 2050. The leaked proposal is discussed in a briefing by Lina Strandvåg Nagell on the Bellona Europe website. Note that the EC began expert … Continue reading EU taxonomy proposed change is a “recipe for a greenwashing disaster”
Energy in Demand - Sustainable Energy - Rod Janssen 