According to the IEA, renewable energy use increased by 3% in 2020 as demand for all other fuels declined. The primary driver was an almost 7% growth in electricity generation from renewable sources. Long-term contracts, priority access to the grid, and continuous installation of new plants underpinned renewables growth despite lower electricity demand, supply chain challenges, and construction delays in many parts of the world. Accordingly, the share of renewables in global electricity generation jumped to 29% in 2020, up from 27% in 2019. Bioenergy use in industry grew 3%, but was largely offset by a decline in biofuels as lower oil demand also reduced the use of blended biofuels.
Increases in electricity generation from all renewable sources should push the share of renewables in the electricity generation mix to an all-time high of 30% in 2021.
During its Energy Transition Spotlight, Chevron Corporation announced plans to invest more capital to multiply lower carbon energy businesses. “Chevron intends to be a leader in advancing a lower carbon future. Our planned actions target sectors of the economy that are harder to abate and leverage our capabilities, assets, and customer relationships.” Michael Wirth, Chevron’s […]
Climate change could force 216 million people to migrate within their own countries by 2050, and decisive collective action could reduce climate migration by as much as 80 percent. The World Bank’s updated Groundswell Groundswell report released this weekfinds that climate change, an increasingly potent driver of migration, could force 216 million people across six […]
EIB’s new climate report looks at how EU and US businesses are prepared to meet the challenges of climate change and the energy transition. As Europe shows global leadership in the fight against climate change with the Green Deal and the new “fit for 55” proposals, around 45% of EU firms report investments to address […]
ULI Greenprint finds four times reduction in carbon emissions from buildings and doubling of energy efficiency activity during pandemic year ULI Greenprint Center for Building Performance’s annual report found a 12.4% reduction in carbon emissions in 2020 compared with an average 3.5% fall in previous years. In addition, the report found that real estate […]
Scientists are observing changes in the Earth’s climate in every region and across the whole climate system, according to the latest Intergovernmental Panel on Climate Change – IPCC’s Sixth Assessment Report. Many of the changes observed in the climate are unprecedented in thousands, if not hundreds of thousands of years, and some of the changes […]
How Covid and Carbon emissions are leading to payment defaults? As the coronavirus disease 2019 (COVID-19) creates unprecedented debt, climate change could lead to defaults on a planet dangerously close, according to the United Nations panel, to warming. To avoid catastrophe, countries adhere to carbon reduction measures. But that would be costly and likely add […]
Development of the wind farm in the bay of Saint-Brieuc and signature of the first energy sector loan in Europe linked to water consumption Ailes Marines – Iberdrola – Ignacio Sánchez Galán, CEO of the Spanish energy giant Iberdrola, announced publicly on Wednesday July 21, 2021 that the group was studying “in great detail” a […]
$14 trillion investors call for consistency on ‘corporate net zero alignment plans’ and director accountability on climate targets Through IIGCC, 53 leading investors, managing more than USD $14 trillion of assets, are calling for the implementation of new corporate governance measures to ensure shareholders can hold companies to account in achieving ‘net zero emissions commitments. […]
ArcelorMittal and the Government of Canada announced investment of CAD$1.765 billion in decarbonisation technologies in Canada. New DRI and EAF installations at ArcelorMittal Dofasco in Hamilton, Ontario will reduce carbon emissions by approximately 60%. ArcelorMittal together with the Government of Canada, announced its intention for a CAD$1.765 billion investment in decarbonisation technologies at ArcelorMittal Dofasco’s […]
La Banque européenne d’investissement (BEI) et Hydrogen Europe, une association faîtière représentant l’industrie et la recherche européennes ainsi que des associations nationales et régionales dans le secteur de l’hydrogène et des piles à combustible, ont signé un accord portant sur des services de conseil. Conformément à cet accord, la banque de l’UE fournira des conseils financiers […]
