Leaders of some of the world's largest banks and financial institutions have launched a new joint initiative aimed at rapidly mobilising increased levels of private capital for tackling climate change ahead of a major UN summit this autumn.Read More
In December last year – a little over three years since world leaders unanimously approved the 2030 Agenda for Sustainable Development and signed up to the Paris Agreement on climate action – the UN’s latest Climate Change Conference (COP24) came to an end.Read More
The Corporate Forum on Sustainable Finance initiative was launched on Wednesday (16 January) and has been designed to encourage businesses and policymakers to view sustainable finance as a “critical” tool in the drive to limit global warming.Read More
One of the Paris Agreement’s key aims is to achieve climate neutrality in the second half of this century. The recent IPCC report noted that the pathways limiting global warming to 1.5°C would require rapid and far-reaching transitions in energy, land use and infrastructure requiring unprecedented financial flows.Read More
Renewable energy has advanced rapidly in the Global Cooperation Council (GCC) countries since 2014. The project pipeline reached almost 7 gigawatts (GW) of new power generation capacity by 2018, after record breaking bids in renewable energy auctions in the United Arab Emirates (UAE) and Saudi Arabia made solar power cost-competitive with conventional energy technologies.Read More
The December 2018/January 2019 edition of our member journal, Financial World, featured a series of articles looking at some of the issues around sustainable investing and its impact on both the planet and on financial services.
Ben Caldecott explains how more detailed information on climate change is helping develop sustainable investment strategies and alter financial practice.
12 January 2019: A report released by the International Renewable Energy Association (IRENA) shows that women occupy a larger share of jobs in renewable energy than in the conventional oil and gas business, but the share is far below 50%. Strengthening the role of women in renewable energy through better education and other measures would boost progress towards SDGs on energy..Read More
The continuing growth in renewable energy around the world is set to boost the power of China while undermining the influence of major oil exporters such as Russia and Middle East states like Saudi Arabia, according to a new report on the geopolitical implications of the changing energy landscape.Read More
2018 showed that clean energy is becoming more the norm. And we’re not just talking about Bradley Cooper standing in front of a field of wind turbines in the hit movie "A Star is Born." In spite of the lack of action from the U.S. federal government, the world is moving forward on clean energy.Read More
UN Climate Change News, 10 January 2019 - In her first address since the conclusion of the UN Climate Change Conference COP24 in Katowice last December, the UN’s top climate official Patricia Espinosa warned that whilst the meeting was a success, the world remained off course with regard to achieving the goals of the Paris Agreement on Climate Change..Read More
The 24th session of the Conference of the Parties (COP24) to the United Nations Framework Convention on Climate Change (UNFCCC) concluded on December 15, 2018 at Katowice, Poland. After a busy two weeks, the nearly 14,000 delegates from 195 countries managed to agree on a rulebook for achieving their Paris Agreement promises.Read More
Investors looking to put their money in funds that screen for environmental, social and governance issues, or ESG, now control a whopping 25 percent of U.S. investments. Big finance firms are, understandably, paying attention. Last year saw dozens of fund launches by Vanguard, BlackRock and others, as well as central banks more focused on climate risk and new rules for “green loans.”Read More
One of the areas with significant potential to reduce carbon emissions is the energy sector, including the transition away from coal. It is, and will be evenmore so in the future, a powerful means of effectively responding to the complexity of the climate change challenge.Read More
2019 promises to be an exciting year for clean tech. An increasing number of countries, companies and regions are embracing sustainable energy generation and the landscape is rapidly evolving. Here are 6 renewable energy trends to watch in the coming year.Read More
The Fourth National Climate Assessment forecasts a deeply troubling future for U.S. national security. As combat veterans, we acutely appreciate the threats identified by this report and the risks of inaction. As business leaders, we also recognize the financial opportunity that thwarting these risks offers for the American economy.Read More
Kazuo Okamoto, chief executive at Mitsubishi Heavy Industries Europe, reflects on the technology trends that need to accelerate in the wake of the latest UN Climate Summit in Katowice
The COP24 Summit which closed last week emphasised the pressing issues governments now face, namely balancing a zero-carbon economy with opportunities of the Fourth Industrial Revolution and issues created by...
In today's connected world where the proliferation of digital technologies is inescapable, Schneider Electric (EPA:SU) is capitalizing on burgeoning opportunities offered by the multiplication of connected points underpinned by power infrastructure and solutions, says the $40 billion energy management giant's boss for over a decade.
New York Governor Andrew Cuomo announced Monday that he will push for New York to transition to 100 percent clean electricity by 2040, in a statement outlining his agenda for early 2019.Read More
City lawmakers in the District of Columbia voted unanimously Tuesday to pass legislation mandating 100 percent renewable electricity in the capital by 2032.
The Clean Energy D.C. Omnibus Act of 2018 doubles Washington’s current policy, which says that by 14 years from now, the nation’s capital must be getting half its electricity from zero-emissions sources like solar and wind.
JERUSALEM (Reuters) - Israel said on Monday it would stop the use of coal by 2030, joining a host of other countries in an alliance that aims to transition to cleaner sources of energy.Read More
As we roll through 2018, a complete disruption of energy is happening globally. China is adding a London-sized electric bus fleet every five weeks. A solar plant was recently built at the site of the Chernobyl nuclear disaster.Read More
Reducing the risk (de-risking) of investment in renewable energy projects is a critically important step to decarbonizing energy systems to prevent dangerous climate change, with three major components: technology risk, development risk and pricing risk. Addressing each of these risk profiles helps investors—utilities, banks or other institutions, find the necessary will to invest in renewable proRead More
UN Climate Change News, 12 November 2018 - Agri-food actors across the supply chain urgently need to put protective measures in place, whilst making use of trade opportunities and innovative adaptation technologies. That was the key conclusion of a recent Adaptation Committee workshop in Geneva co-hosted by UN Climate Change and the International Trade Centre (ITC).Read More
The Sustainable Development Goals (SDGs) represent our most ambitious development agenda ever, setting the vision, framework and targets for the transition to a sustainable and resilient society. With just over a decade left to achieve the SDGs, a major push is needed to accelerate results.Read More
MELBOURNE (Reuters) – Australia’s most populous state of New South Wales outlined plans on Monday to speed development of A$2.6 billion ($1.9 billion) worth of transmission capacity to hook up more wind and solar power.
South Korea is planning to develop 4 gigawatts (GW) worth of solar and offshore wind on reclaimed land in Saemangeum, an estuarine tidal flat on the country’s southwest coast that was damned by the country’s government amidst significant controversy over 30 years ago.Read More
This morning, National Grid became the latest mammoth utility company to launch a corporate venture fund dedicated to nudging innovation related to clean energy. Its new Los Gatos, California-based investment arm is aptly called National Grid Partners. It represents the utility industry’s first big presence on Silicon Valley turf — longtime land of digital innovation..Read More
EU economy and finance ministers on Tuesday (6 November) stressed the need to scale up public and private money for climate change and urged multilateral development banks to end funding for coal.
Following a meeting in Brussels, the ministers emphasised that public finance alone “can never be sufficient” in reducing greenhouse gas emissions and adapting to the effects of climate change..
REAFFIRMS the strong support of the EU and its Member States for the timely implementation of the Paris Agreement together with the 2030 Agenda for Sustainable Development and Addis Ababa Action Agenda. EMPHASISES the EU’s commitment to develop a robust and fully functioning set of rules as the outcome of the Paris Agreement Work Programme at COP24, which is essential for laying the groundwork forRead More
Unilever and Veolia have agreed to collaborate on emerging technologies that will help create a circular economy on plastics across various geographies, starting in India and Indonesia.
According to the Ellen MacArthur Foundation, just 14 percent of the plastic packaging used globally is collected for recycling after use, with 40 percent ending up in landfill and a third in fragile ecosystems.
29 October 2018: An updated note on the approach to organizing the Talanoa Dialogue during the 24th session of the Conference of the Parties (COP 24) to the UNFCCC in Katowice, Poland, in December 2018, has been issued by the COP 23 Presidency and incoming COP 24 Presidency. COP 24 represents the culmination of a one-year process during which participants took stock of collective efforts on..Read More
China’s National Energy Administration has floated the idea that it might increase its 2020 solar target to at least 210 gigawatts (GW), and potentially as high as 270 GW, in a move which will significantly impact China’s annual capacity additions and, thus, global capacity additions and solar PV manufacturing.Read More
With more and more of us living a gig lifestyle, the office can be anywhere with a power socket, an Internet connection and decent coffee. Whether a coworking space, a cafe, the local library or on-site with a client, there are any number of places you can call "home" at any given time.
For such a transient way of working, a bicycle is a great way of getting about, especially given the..
The capacity of renewable energy has overtaken that of fossil fuels in the UK for the first time, in a milestone that experts said would have been unthinkable a few years ago.
In the past five years, the amount of renewable capacity has tripled while fossil fuels’ has fallen by one-third, as power stations reached the end of their life or became uneconomic.
The program seeks 10 startups with social impact in the field of cities to contribute to the achievement of objective number 11 of UN’s Sustainable Development Goals (SDG) — “Sustainable Cities and Communities.”
Research from Accenture suggests the rise of the circular economy will unlock $4.5 trillion in new economic growth by 2030. But for this bounty to be released, businesses, banks and governments must collaborate to encourage and enable a change in mindset to embrace new business and finance models. Just as the first industrial revolution transformed the way we live, work and interact..Read More
China could see big improvements in air quality, a reduction in carbon emissions and huge savings for business and households worth 32 trillion yuan (US$5.1 trillion) by 2030 if it moved to a circular economy, according to a recent report from the Ellen MacArthur Foundation.Read More
The government of Poland and the UN today co-signed the bilateral agreement which forms the legal basis for organizing and hosting the UN Climate Change Conference in Katowice this year (COP24, 2 – 14 December).
At the Urban 20 (U20) Mayors Summit this week in Buenos Aires, Argentina, mayors and leaders from 34 cities around the globe signed the U20 Communique to work toward a "collective goal of fair, inclusive, and sustainable development."
The City of Taipei, Taiwan, has joined forces with Tesla to establish a new 1.5 hectare hub to help local startups find footing and get training for new energy ventures in the city.
Five weeks before a pivotal UN climate conference (COP24) starts, a group of investors, led by the Church of England Pensions Board and Swedish national pension fund AP7, sent a letter to 55 companies to challenge them on climate lobbying.
The Asia Pacific region is expected to add a further 355 gigawatts (GW) of new solar PV capacity over the next five years, despite expectations that the sector will see a decline in installations this year, while the region’s offshore wind industry is predicted to grow 20-fold over the next decade.
Just 16 countries have set clear goals for cutting greenhouse gas emissions that will allow them to match their ambitious pledges to tackle climate change.
In a new report, climate experts have warned of discrepancies between big promises made on the global stage and domestic targets backed up by law.
This year’s UN climate summit will undoubtedly represent a moment of truth for international climate action.
There are high expectations of a strong reaction from the global community to the recent Special Report by the Intergovernmental Panel on Climate Change (IPCC), which highlights the disastrous damage a 2°C rise and above would have on global warming.
C2 Energy Capital LLC, a New York-based clean-energy developer, raised $21 million to invest in new projects.
About half of the money raised for the C2 Taiyo Fund I LP fund is already committed to specific projects, according to an emailed statement Thursday. The fund will target renewables and storage investments, including a 51-megawatt solar portfolio being built in South Carolina, said Richar
Majors account for a 15 percent share of the global oil and gas market. If those majors want to capture the same market share in renewables, it would require them to collectively invest $200 billion, according to a new report from Wood Mackenzie.Read More
The European Parliament has voted to ban a range of single-use plastics such as straws, cotton buds and cutlery and to ensure most bottles are recycled in a bid to curb ocean pollution.
Under the proposal, 10 single-use plastic products would be banned by 2021 and EU states obliged to recycle 90% of plastic bottles by 2025.
The Office of the Prime Minister of Jamaica has commissioned a high-efficiency, state-of-the-art solar photovoltaics array, thanks to Solar Head of State, a nonprofit that helps world leaders become green leaders by installing solar panels on government buildings. This cool organization grew up out of the campaign to put solar back on the White House..Read More
Tado, the smart thermostat and AC control maker, has raised a further $50 million in funding from an array of noteworthy and strategic investors. Backing the Munich-headquartered company this time around is Amazon, E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital, and the European Investment Bank.Read More
Uber Technologies Inc. will increase the cost of taking a ride in London by 15 pence (20 cents) per mile to create a 200 million pound ($260 million) fund to help drivers switch to all-electric vehicles.Read More
At the opening of a ministerial meeting in Krakow on 23 October, designed to prepare for the outcome of the UN Climate Change Conference in Katowice in December (COP24), the Executive Secretary of UN Climate Change, Patricia Espinosa, outlined her expectations for the COP.Read More
In what must surely be a sign of the End Times, the Global Wind Energy Council announced last week that oil and gas megalith Shell has joined as a board-level member as the company looks to expand its wind business as part of its Shell New Energies Strategy.
Facebook’s $1 billion data center in Los Lunas in New Mexico will benefit from an additional 100 megawatts (MW) of new solar capacity after approval was granted for the construction of two 50 MW solar farms, ensuring that the data center is served with 100% renewable electricity.Read More
A startup in Israel is implanting tiny solar panels on electronic devices that allows the devices to sustainably generate their own power, the latest sign that falling costs are pushing renewable energy technologies deeper into everyday use.Read More
The contract was announced in favour of GE due to pressure from the Trump administration on the Iraqi Government, according to sources familiar with the matter cited by the Financial Times.
Siemens has said that it signed a memorandum of understanding with the Iraqi Government to supply 11GW of power generation equipment for a period of four years.
Private capital must play a far greater role in green projects throughout the developing world if governments are to deliver on the UN’s Sustainable Development Goals (SDGs), S&P Global Ratings has warned.
The commitment is in prelude to the UN climate talks in December, where member nations will discuss implementing the Paris Agreement, the legally binding document 195 nations signed in 2015, committing them to limiting global warming by reducing emissions.
In a corporate blog post on October 16, Microsoft announced a new tool to help take the risk out of investments in renewable energy, a move it hopes will help drive the renewable energy revolution forward. Intended for large corporate and industrial customers, it is called a Volume Firming Agreement and it can become part of any new or existing Power Purchase Agreement.
If plans are realized, the private-public investment vehicle will start investing in companies with green-tech innovations. The fund would be used to pursue technologies which could help the decarbonization of the economy but which have not received enough attention.
Energy Web Foundation is working toward building a blockchain of blockchains that could let consumers sell the energy they generate at home in markets worldwide. The EWF open-source software application, called EW Origin, could provide digital links between existing energy trading platforms, analogous to the role that interconnectors play in the physical electricity market world.
Australian energy firm Jemena is partnering with the national Renewable Energy Agency (ARENA) on a $15 million trial project to create hydrogen gas from solar and wind power. If successful, the resulting fuel would then be stored for use across the Jemena Gas Network in New South Wales.
12 October 2018: The UNFCCC Secretariat has published provisional agendas for the meetings that will convene during the Katowice Climate Change Conference. The Conference will include: the 24th session of the Conference of the Parties to the UNFCCC (COP 24); the 14th session of the COP serving as the meeting of the Parties to the Kyoto Protocol (CMP 14) .
A Legal Adviser with the African Group of Negotiators to the United Nations Framework Convention on Climate Change (UNFCCC) has outlined Africa’s expectations of Katowice, Poland, looking at realities on the ground and how Africa can speak with one voice to make sure it is heard.
Sikkim has been one of the best states when it comes to sustainable policies and adding another feather to the cap is the recognition of all these efforts by the United Nations. UN has recently announced the award for World’s Best Food Policies to Sikkim. Sikkim has been organic since 2015 and it started this journey way back in 2003, but its now that the state got its due.
The Global Climate Action Summit closed on Friday in San Francisco after three days showcasing a surge of climate action and commitments from regions, cities, businesses, investors and civil society; and calling on governments everywhere to step up their efforts to tackle climate change.Read More