Carbon emissions on rise from major economies

Carbon emissions on rise from major economies

Five years of falling carbon dioxide emissions in the world’s leading economies will come to an end this year as pollution rises by 0.5%, according to new figures.

The International Energy Agency (IEA) said higher oil and gas use in Europe, the United States and Asia would outweigh growth in renewables and a fall in coal.

Although the IEA noted that the rise in emissions was lower than the increase in economic growth – which stood at 2.4% – the agency described the figure as “particularly...

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Top-up capacity market auction planned

The UK government has said it plans to run T-1 Capacity Market ‘top-up’ auction next summer as it continues to look for the mechanism to be reinstated as soon as possible.

The Government said it is working closely with the European Commission for the investigation into the scheme to be concluded as soon as possible after it was suspended following a European court ruling over state aid.

The T-1 top-up auction announced will be for delivery in winter 2019/20, and any agreements will be...

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Businesses looking to strengthen supply chain sustainability

A third of companies want to make their supply chains more sustainable over the next three years, a new survey has found.

HSBC questioned more than 8,500 companies in 34 countries and found that, for more than eight out of ten of the firms, the main motivating factors were cost efficiencies, improving revenues and boosting profitability.

Bryan Pascoe, Global Head of Client Coverage at HSBC Global Commercial Banking, said: “As businesses explore and invest in ways to stay competitive for the...

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Up to 40% of coal plants ‘unprofitable’

More than two-fifths of the world’s coal-fired power stations are already running at a loss, according to the Carbon Tracker think tank.

In the first report to examine the finances of 6,685 plants – which together represent 1.9TW or 95% of global coal-fired capacity – analysts concluded it makes sense to close power stations in line with the Paris Agreement.

New wind and solar farms will be cheaper than 96% of existing coal plants by 2030, the report calculated.

The think tank added that 72% ...

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Investing for the climate is good business says Hermes

Investment manager Hermes has hailed climate change as a “central theme” for its investors.

In its 2018 Carbon Report, the firm said that climate change was creating risks for the companies in which it invests.

But it also provides opportunities for businesses offering products and services that will help with the transition to a low-carbon economy, the report added.

The report noted there were “very few value-creating opportunities” for oil companies in a low-carbon economy.


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Green technologies could cut emissions by 64%

Renewable energy, electric vehicles and other green technologies could slash carbon dioxide emissions by two-thirds, a new report from Dutch bank ING has found.

The study examined how green technologies could be deployed between now and 2050 across seven sectors – power, heavy industry, real estate, light-duty vehicles (LDVs), trucks, shipping and aviation.

The bank expects coal to be phased out and for solar and wind to meet one third of the world’s electricity demand by 2050.

Under the...

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11/12/2018 - Sector Round Up

Energy Awards winners announced

SmartestEnergy, which is celebrating 10 years in the I&C supply market, has been named Energy Supplier of the Year at the Energy Awards.

Chief Executive Officer, Robert Groves said:“This is a fantastic achievement to end a year of milestones for SmartestEnergy with record volumes and customer numbers for our supply business.

The award recognises our role in driving the energy revolution by championing renewables and supporting a more localised and flexible ...

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Renewables industry criticises grid charge proposals

Ofgem has been accused of “seriously undermining” small-scale renewable energy projects through its proposals to reform grid charges.

Under the regulator’s Targeted Charging Review ‘minded to’ proposals Ofgem is looking at removing the remaining grid charge benefits for small, embedded generation, and making such sites pay balancing charges.

The regulator has also set out its preference to introduce fixed residual charges for all households and businesses rather than charges based on the...

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New record for GB wind

Wind energy has hit a new generation record, according to figure from National Grid.

The statistics reveal that Britain’s onshore and offshore wind farms hit a new high of 14.9 gigawatts (GW) between 6 and 6.30pm on the last Wednesday in November.

Analysis by Drax Electric Insights shows that this was 33% of Britain’s electricity needs at a time of high demand, and that it beat the previous record of 14.5GW set on 9th November.

National Grid said that overall on Wednesday wind generated...

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Warning over ‘last generation able to stop climate change’

World government have been urged to adopt a more radical approach to drive low carbon investments to tackle climate change.

As the COP24 climate change conference began in Poland, the World Bank, OECD, and UN Environment joined forces to call for action amid a warning that the current generation is the last that can stop climate change.

Kristalina Georgieva, Chief Executive of the World Bank, said:“We are clearly the last generation that can change the course of climate change, but we are...

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