International News
Global Wind Industry unites to address climate emergency ahead of COP26.
Leading wind energy Corporates and Associations of the world have today launched the Global Wind Energy Coalition for COP26. Convened by the Global Wind Energy Council (GWEC), the voice of the global wind industry and RenewableUK (RUK), the wind energy trade association for the UK, the Global Wind Energy Coalition will carry out a series of activities to help governments, economies and communities to raise their ambitions and remove barriers to the high rise in investments in wind power in order to reach Net Zero targets and stop dangerous global warming. The wind industry’s global campaign on the road to COP26 (Scheduled to be held from November 1st to 12th, 2021 in Glasgow, UK would include: A campaign to highlight the essential role of wind power on the road to net zero, including a website filled with resources and materials to help amplify the voice of the global wind industry in the run-up to COP26; Constant engagement with policymakers in key onshore and offshore wind markets to create wind energy acceleration plans, including more high capacity targets and sensible regulation for project development; Collaboration with other technologies and heavy industries, with realistic joint commitments that work towards system-wide de-carbonisation in a global renewable energy alliance; The aim is to achieve realistic targets that can deliver the global 1,400 GW target by 2050 set by the Ocean Renewable Energy Action Coalition; and The creation of a ‘Global Wind Energy Hub’ at COP26 in Glasgow, UK (from November 1st to 12th 2021). COP26 will be a key platform for the wind industry to host events, meetings and other activities throughout the conference to engage with key policymakers and stakeholders. The associations’ efforts are being supported by global leaders in the wind. COP26 aims for renewed efforts to de-carbonise our world at the pace that is necessary. As the clean energy technology provides the highest amount of de-carbonisation per MW with its unlimited potential, it is crucial that the global wind industry come together and highlight the essential role of wind power that it will play in the Race to Zero. It is envisaged to work closely with policymakers in countries with high potential for offshore wind to increase their ambitions and put countries on the right path to build out their offshore wind markets as an essential solution to achieve their NDC’s.
Leading wind energy Corporates and Associations of the world have today launched the Global Wind Energy Coalition for COP26. Convened by the Global Wind Energy Council (GWEC), the voice of the global wind industry and RenewableUK (RUK), the wind energy trade association for the UK, the Global Wind Energy Coalition will carry out a series of activities to help governments, economies and communities to raise their ambitions and remove barriers to the high rise in investments in wind power in order to reach Net Zero targets and stop dangerous global warming. The wind industry’s global campaign on the road to COP26 (Scheduled to be held from November 1st to 12th, 2021 in Glasgow, UK would include: A campaign to highlight the essential role of wind power on the road to net zero, including a website filled with resources and materials to help amplify the voice of the global wind industry in the run-up to COP26; Constant engagement with policymakers in key onshore and offshore wind markets to create wind energy acceleration plans, including more high capacity targets and sensible regulation for project development; Collaboration with other technologies and heavy industries, with realistic joint commitments that work towards system-wide de-carbonisation in a global renewable energy alliance; The aim is to achieve realistic targets that can deliver the global 1,400 GW target by 2050 set by the Ocean Renewable Energy Action Coalition; and The creation of a ‘Global Wind Energy Hub’ at COP26 in Glasgow, UK (from November 1st to 12th 2021). COP26 will be a key platform for the wind industry to host events, meetings and other activities throughout the conference to engage with key policymakers and stakeholders. The associations’ efforts are being supported by global leaders in the wind. COP26 aims for renewed efforts to de-carbonise our world at the pace that is necessary. As the clean energy technology provides the highest amount of de-carbonisation per MW with its unlimited potential, it is crucial that the global wind industry come together and highlight the essential role of wind power that it will play in the Race to Zero. It is envisaged to work closely with policymakers in countries with high potential for offshore wind to increase their ambitions and put countries on the right path to build out their offshore wind markets as an essential solution to achieve their NDC’s.
Climate-oriented investors welcomes EU masterplan.
A masterplan initiated by European Union climate to eliminate carbon emission making companies more sustainable can trigger a meaningful change. In its biggest climate package so far, the European Commission, the EU’s executive body, on 14th July 2021 announced 13 policy proposals spanning energy, shipping, transport and manufacturing. This would make the EU a pioneer on climate change as per Mark Wade, Head of Sustainability Research and Stewardship at Allianz Global Investors. The policy proposals are plans to reform the 27-member bloc’s Emissions Trading System, which forces polluters to pay for their emissions. The European industry are witnessing a competitive disadvantage when manufacturers in other countries do not face such costs. The European Commission is addressing the discrepancy with a proposed border levy – or Carbon Border Adjustment Mechanism – that would add a cost to imports to adjust for their emissions. The EU thinks that such a move be a sustainable practice bringing the world closer to a single carbon price. The EU now managing more than $6 trillion earlier this month urged policymakers to agree a global price of carbon. Currently carbon trades at around $62 per tonne in Europe, around $20 per tonne in North America, and around $7 per tonne in China. Agreeing a single global cost of carbon would be hard for political leaders, As many are of the view that the polluter should pay for their emissions. Any company operating in Europe or selling to the bloc will need to ensure their corporate strategy is aligned to its climate ambitions. This however is tipping the scales towards making net zero commitments. For others it will force them to make those commitments more credible. Large emitters whose main operations and markets are outside Europe would be less affected. This has to watched at the outcomings at the COP 26 U.N. climate talks in Glasgow, Scotland, in November. A report from Climate Action 100+, an investor group making the heavy-emitting companies to accelerate their climate transition plans, said in March 2021 that none of the 159 companies its members engaged with has so far committed to align capital expenditure with the United Nations’ 2015 Paris Agreement on climate. It is now felt that with some guidance on how to connect these country-level commitments to corporate actions will make the investors comfortable where they actually stand. ThIs EU proposal will however will take around two years before it becomes a law, agreed by Non EU Corporates and the EU member states and European Parliament. These proposals however demonstrate the need to take increasing efforts from European and other governments very seriously
A masterplan initiated by European Union climate to eliminate carbon emission making companies more sustainable can trigger a meaningful change. In its biggest climate package so far, the European Commission, the EU’s executive body, on 14th July 2021 announced 13 policy proposals spanning energy, shipping, transport and manufacturing. This would make the EU a pioneer on climate change as per Mark Wade, Head of Sustainability Research and Stewardship at Allianz Global Investors. The policy proposals are plans to reform the 27-member bloc’s Emissions Trading System, which forces polluters to pay for their emissions. The European industry are witnessing a competitive disadvantage when manufacturers in other countries do not face such costs. The European Commission is addressing the discrepancy with a proposed border levy – or Carbon Border Adjustment Mechanism – that would add a cost to imports to adjust for their emissions. The EU thinks that such a move be a sustainable practice bringing the world closer to a single carbon price. The EU now managing more than $6 trillion earlier this month urged policymakers to agree a global price of carbon. Currently carbon trades at around $62 per tonne in Europe, around $20 per tonne in North America, and around $7 per tonne in China. Agreeing a single global cost of carbon would be hard for political leaders, As many are of the view that the polluter should pay for their emissions. Any company operating in Europe or selling to the bloc will need to ensure their corporate strategy is aligned to its climate ambitions. This however is tipping the scales towards making net zero commitments. For others it will force them to make those commitments more credible. Large emitters whose main operations and markets are outside Europe would be less affected. This has to watched at the outcomings at the COP 26 U.N. climate talks in Glasgow, Scotland, in November. A report from Climate Action 100+, an investor group making the heavy-emitting companies to accelerate their climate transition plans, said in March 2021 that none of the 159 companies its members engaged with has so far committed to align capital expenditure with the United Nations’ 2015 Paris Agreement on climate. It is now felt that with some guidance on how to connect these country-level commitments to corporate actions will make the investors comfortable where they actually stand. ThIs EU proposal will however will take around two years before it becomes a law, agreed by Non EU Corporates and the EU member states and European Parliament. These proposals however demonstrate the need to take increasing efforts from European and other governments very seriously
HUGE INVESTMENT IN SOLAR ENERGY SECTOR TO CREATE 10 MILLION JOBS.
The vigorous emphasis on offshore wind farms to floating solar power plants by many countries in the world various projects are at implementation stage. About 13,000 renewable energy projects in nearly 50 countries are just waiting for financial assistance so to say. These projects when implemented could create up to 10 million jobs in the Renewable Energy sector. $2 trillion in investment opportunities as decided in pre COP 26 Meet in the Alternate Energy sector would generate jobs locally and in supply chains, reducing global warming and march towards clean and green energy. With the right government policies and regulation around the world there is a huge potential to accelerate private-sector renewables investment as well. The biggest potential benefits for workers are in China and the United States, where the projects could create about 2 million and 1.8 million jobs respectively. India, Australia, Brazil, Britain and Canada also could generate hundreds of thousands of jobs each from boosting offshore and onshore wind, solar and hydropower capacity. The jobs range from lower-skilled work in construction, installation and manufacturing to professional jobs in things like engineering and project management. Huge investment by Great Britain in green energy could support sustained job creation and economic growth especially in the former coal-mining region of northern England and oil-and-gas producer Scotland, where large wind farms are being developed. The UK pipeline of projects seeking finance includes 540 mainly solar and wind power proposals, with the potential for close to 439,000 new jobs, as per the report of the European Climate Foundation (ECF). It noted total jobs could rise to about 625,000 when power storage, transmission and distribution are considered. The ECF also said that the projects would reduce the 90% of job lost during the COVID-19 pandemic. As per a net-zero expert Tim Lord, of the UK-based Tony Blair Institute for Global Change at present in many places work force workforces do not yet have the skills to redeploy into clean technologies and their supply chains. Coordination between governments and companies will be essential to develop the local infrastructure and skills needed to expand generation and use of renewable energy, which would in turn help attract necessary investment. The net-zero expert said that COP26 climate summit that is to held in Scotland during this November will be highly important while discussing to providing the incentives for emerging economies to shift away from fossil fuels and into cleaner power.
The vigorous emphasis on offshore wind farms to floating solar power plants by many countries in the world various projects are at implementation stage. About 13,000 renewable energy projects in nearly 50 countries are just waiting for financial assistance so to say. These projects when implemented could create up to 10 million jobs in the Renewable Energy sector. $2 trillion in investment opportunities as decided in pre COP 26 Meet in the Alternate Energy sector would generate jobs locally and in supply chains, reducing global warming and march towards clean and green energy. With the right government policies and regulation around the world there is a huge potential to accelerate private-sector renewables investment as well. The biggest potential benefits for workers are in China and the United States, where the projects could create about 2 million and 1.8 million jobs respectively. India, Australia, Brazil, Britain and Canada also could generate hundreds of thousands of jobs each from boosting offshore and onshore wind, solar and hydropower capacity. The jobs range from lower-skilled work in construction, installation and manufacturing to professional jobs in things like engineering and project management. Huge investment by Great Britain in green energy could support sustained job creation and economic growth especially in the former coal-mining region of northern England and oil-and-gas producer Scotland, where large wind farms are being developed. The UK pipeline of projects seeking finance includes 540 mainly solar and wind power proposals, with the potential for close to 439,000 new jobs, as per the report of the European Climate Foundation (ECF). It noted total jobs could rise to about 625,000 when power storage, transmission and distribution are considered. The ECF also said that the projects would reduce the 90% of job lost during the COVID-19 pandemic. As per a net-zero expert Tim Lord, of the UK-based Tony Blair Institute for Global Change at present in many places work force workforces do not yet have the skills to redeploy into clean technologies and their supply chains. Coordination between governments and companies will be essential to develop the local infrastructure and skills needed to expand generation and use of renewable energy, which would in turn help attract necessary investment. The net-zero expert said that COP26 climate summit that is to held in Scotland during this November will be highly important while discussing to providing the incentives for emerging economies to shift away from fossil fuels and into cleaner power.
Methane Gas a New Great Source of Power.
A latest finding emerged during the constant search for reducing Carbon Dioxide (Co2) for curtailing the Climate Change. It is now the Methane gas. It is now found that one of the natural gases, Methane (CH4) has proven 80 times more potent as a greenhouse gas. To curtail climate changes, scientists are converting methane into renewable energy sources at the Energy Institute of Colorado State University (CSU), United States. This requires sound network of infrastructure with countless emission sources and a robust supply chain. This is the primary big challenge. The Energy Institute at CSU partnering with universities, research institutions, and the natural gas industry are trying to discover new and effective methods for finding and reducing methane leaks at every stage of natural gas production and sources. The United States of America an estimated 300,000 miles of pipeline transport natural gas across the country. Apart from this availability, much more pipeline and transport is required for processing, and storage facilities and then finally be available for the end users. Hence, scientists, working at the state-of-the-art of developments trying to convert methane into renewable energy sources. The Energy Institute is also constructing a test site known as the Methane Emissions Test and Evaluation Center (METEC), which will allow researchers to test methane-sensing technologies in a controlled environment. Besides research is in full swing on Methane and Hydrogen. Of these two, as of now Hydrogen surfaces as better alternative fuel around the world until now. India is also trying Hydrogen as an alternative source to convention oil for vehicles, manufacturing units and other end use. India lacs the supply chain infrastructure like pipeline for providing Methane gas or Hydrogen. India is working on the development of pipelines and robust supply chain.
A latest finding emerged during the constant search for reducing Carbon Dioxide (Co2) for curtailing the Climate Change. It is now the Methane gas. It is now found that one of the natural gases, Methane (CH4) has proven 80 times more potent as a greenhouse gas. To curtail climate changes, scientists are converting methane into renewable energy sources at the Energy Institute of Colorado State University (CSU), United States. This requires sound network of infrastructure with countless emission sources and a robust supply chain. This is the primary big challenge. The Energy Institute at CSU partnering with universities, research institutions, and the natural gas industry are trying to discover new and effective methods for finding and reducing methane leaks at every stage of natural gas production and sources. The United States of America an estimated 300,000 miles of pipeline transport natural gas across the country. Apart from this availability, much more pipeline and transport is required for processing, and storage facilities and then finally be available for the end users. Hence, scientists, working at the state-of-the-art of developments trying to convert methane into renewable energy sources. The Energy Institute is also constructing a test site known as the Methane Emissions Test and Evaluation Center (METEC), which will allow researchers to test methane-sensing technologies in a controlled environment. Besides research is in full swing on Methane and Hydrogen. Of these two, as of now Hydrogen surfaces as better alternative fuel around the world until now. India is also trying Hydrogen as an alternative source to convention oil for vehicles, manufacturing units and other end use. India lacs the supply chain infrastructure like pipeline for providing Methane gas or Hydrogen. India is working on the development of pipelines and robust supply chain.
Reaching net-zero is technically feasible and economically viable too.
To make the World free from any climate disaster due Pollution and increasing Carbon dioxide , it is absolutely necessary to keep global warming levels to below 1.5 Degree Celsius. This requires cutting down our emissions to net-zero by 2050. In this regard the following are to be examined. The key sectors As 75 per cent of overall emissions are due to energy consumption, one has to focus on energy.Within energy, some sectors are considered easier to de-carbonize , while some others are of less intense. This distinction is largely based on commercial availability of low-carbon technologies. In the former category, the power sector is considered the important matter to attend to, followed by light duty transportation (eg. cars) and building sectors. The latter category, includes heavy duty transportation (eg. trucks, trains, shipping, and aviation) as well as industry (i.e. steel, cement, petrochemicals, and aluminum). The key technologiesavailable While there is a contrast across sectors, the good news is that with the technologies that are available today it would allow for complete de-carbonization of each of these sectors. A brief summary is as such. Sector Technologies Power Renewable Energy (Wind, Solar, Hydro), battery storage, green hydrogen Transport-Light Duty Electricity, battery storage Transportation- heavy duty Electricity, battery storage, hydrogen Transport-Shipping Electricity, battery storage, hydrogen, bio fuels, ammonia Transport- Aviation Electricity, battery storage, hydrogen, bio fuels, sinfuels Steel Industry Electricity, hydrogen, CCS Cement Industry Electricity, bioenergy, CCS Petroleum Industry Electricity, bioenergy, CCS, recycling Aluminum Industry Electricity, recycling It is therefore clear that significant progress can be achieved through demand reduction and energy efficiency, followed by electrification and further followed by supplemental technologies. From the table, key technologies are renewable energy (i.e. wind, solar, hydro), battery storage, green hydrogen, bioenergy, and carbon capture and sequestration (CCS). While some of these technologies are commercially ready now (eg. renewable energy and battery storage), some are likely to become ready over the next decade i.e. bioenergy, green hydrogen, and CCS. Hence given appropriate focus on developing these technologies, we have a technically feasible path to net-zero. What could be the key pathways? There are three main routes to deep de-carbonization : one, improving energy efficiency of underlying processes; two, reducing demand for carbon-intensive products and services; and three, deploying de-carbonization technologies – i.e. clean electricity, biomass energy, CCS, and green hydrogen – across all sectors. As a foresight, to fully decarbonize the energy sector, we would need to deploy green technologies at scale, including renewable electricity generation needs to reach 90,000-115,000 TWh per year besides w green hydrogen generation needs to reach 800-900 Mt per year. This involvessignificantexpansion for CCS as well as bioenergy production.Given the technical, economic, and institutional barriers, transition paths will vary significantly from sector to sector. In the electricity sector, the progress to full de-carbonization is already on the way. In the industrial sectors, progress to full de-carbonization will inevitably take several decades. In the transport sectors, transition paths are less complicated, and it is likely to de-carbonize next, after electricity. The incremental costs Accomplishing a zero-carbon economy by mid-century will require a dramatic acceleration in the strong commitments of investment over the next three decades. We also need to scale up renewable electricity, hydrogen production, and CCS capacity by six, fifteen, and eight times, respectively, of current levels. The macroeconomic cost of this huge investment is affordable, amounting to just 1 per cent to 2 per cent of global GDP. The impact of de-carbonization on prices faced by end consumers may vary by sector, though it will be small. De-carbonizing steel will add less than US$180 to the price of a car, while zero-emissions plastics will add less than US$0.01 to the price of soft drinks. If low-carbon fuels remain more expensive, ticket prices for international flights may increase by 10-20 per cent; nevertheless, given this accounts for less than 3 per cent of household consumption, the total impact would still be low. Role of policy Deep de-carbonization cannot be accomplished unless countries set clear targets for emissions reduction and deep electrification, with policies to support key technology developments, drive energy efficiency, and ensure key infrastructure developments. International coordinated action is also required to mobilize the significant capital flows needed to finance rapid renewable electricity development in developing countries. Optimal policies must not only ensure that a zero-carbon emissions economy is achieved by mid-century but also reflect feasible transition paths. For example, in shipping, the long-term zero-carbon solution may entail burning ammonia in ship engines, with the ammonia in turn made from zero-carbon hydrogen. This may take many years to build the production capacity and distribution handling infrastructure required to support large-scale ammonia use.
To make the World free from any climate disaster due Pollution and increasing Carbon dioxide , it is absolutely necessary to keep global warming levels to below 1.5 Degree Celsius. This requires cutting down our emissions to net-zero by 2050. In this regard the following are to be examined. The key sectors As 75 per cent of overall emissions are due to energy consumption, one has to focus on energy.Within energy, some sectors are considered easier to de-carbonize , while some others are of less intense. This distinction is largely based on commercial availability of low-carbon technologies. In the former category, the power sector is considered the important matter to attend to, followed by light duty transportation (eg. cars) and building sectors. The latter category, includes heavy duty transportation (eg. trucks, trains, shipping, and aviation) as well as industry (i.e. steel, cement, petrochemicals, and aluminum). The key technologiesavailable While there is a contrast across sectors, the good news is that with the technologies that are available today it would allow for complete de-carbonization of each of these sectors. A brief summary is as such. Sector Technologies Power Renewable Energy (Wind, Solar, Hydro), battery storage, green hydrogen Transport-Light Duty Electricity, battery storage Transportation- heavy duty Electricity, battery storage, hydrogen Transport-Shipping Electricity, battery storage, hydrogen, bio fuels, ammonia Transport- Aviation Electricity, battery storage, hydrogen, bio fuels, sinfuels Steel Industry Electricity, hydrogen, CCS Cement Industry Electricity, bioenergy, CCS Petroleum Industry Electricity, bioenergy, CCS, recycling Aluminum Industry Electricity, recycling It is therefore clear that significant progress can be achieved through demand reduction and energy efficiency, followed by electrification and further followed by supplemental technologies. From the table, key technologies are renewable energy (i.e. wind, solar, hydro), battery storage, green hydrogen, bioenergy, and carbon capture and sequestration (CCS). While some of these technologies are commercially ready now (eg. renewable energy and battery storage), some are likely to become ready over the next decade i.e. bioenergy, green hydrogen, and CCS. Hence given appropriate focus on developing these technologies, we have a technically feasible path to net-zero. What could be the key pathways? There are three main routes to deep de-carbonization : one, improving energy efficiency of underlying processes; two, reducing demand for carbon-intensive products and services; and three, deploying de-carbonization technologies – i.e. clean electricity, biomass energy, CCS, and green hydrogen – across all sectors. As a foresight, to fully decarbonize the energy sector, we would need to deploy green technologies at scale, including renewable electricity generation needs to reach 90,000-115,000 TWh per year besides w green hydrogen generation needs to reach 800-900 Mt per year. This involvessignificantexpansion for CCS as well as bioenergy production.Given the technical, economic, and institutional barriers, transition paths will vary significantly from sector to sector. In the electricity sector, the progress to full de-carbonization is already on the way. In the industrial sectors, progress to full de-carbonization will inevitably take several decades. In the transport sectors, transition paths are less complicated, and it is likely to de-carbonize next, after electricity. The incremental costs Accomplishing a zero-carbon economy by mid-century will require a dramatic acceleration in the strong commitments of investment over the next three decades. We also need to scale up renewable electricity, hydrogen production, and CCS capacity by six, fifteen, and eight times, respectively, of current levels. The macroeconomic cost of this huge investment is affordable, amounting to just 1 per cent to 2 per cent of global GDP. The impact of de-carbonization on prices faced by end consumers may vary by sector, though it will be small. De-carbonizing steel will add less than US$180 to the price of a car, while zero-emissions plastics will add less than US$0.01 to the price of soft drinks. If low-carbon fuels remain more expensive, ticket prices for international flights may increase by 10-20 per cent; nevertheless, given this accounts for less than 3 per cent of household consumption, the total impact would still be low. Role of policy Deep de-carbonization cannot be accomplished unless countries set clear targets for emissions reduction and deep electrification, with policies to support key technology developments, drive energy efficiency, and ensure key infrastructure developments. International coordinated action is also required to mobilize the significant capital flows needed to finance rapid renewable electricity development in developing countries. Optimal policies must not only ensure that a zero-carbon emissions economy is achieved by mid-century but also reflect feasible transition paths. For example, in shipping, the long-term zero-carbon solution may entail burning ammonia in ship engines, with the ammonia in turn made from zero-carbon hydrogen. This may take many years to build the production capacity and distribution handling infrastructure required to support large-scale ammonia use.