Investment is the lifeblood of the global energy system. Individual decisions about how to direct capital to various energy projects – related to the collection, conversion, transport and consumption of energy resources – combine to shape global patterns of energy use and related emissions for decades to come. Government energy and climate policies seek to influence the scale and nature of investments across the economy, and long-term climate goals depend on their success. Understanding the energy investment landscape today and how it can evolve to meet decarbonisation goals are central elements of the energy transition. Around two-thirds of global greenhouse gas (GHG) emissions stem from energy production and use, which puts the energy sector at the core of efforts to combat climate change.
The signing of the Paris Agreement in December 2015 was rightly hailed as a truly historic moment in the fight against climate change. It marked the start of the most important race in our existence – the race to curb global greenhouse gas (GHG) emissions so that global temperature rise remains below 2 degrees Celsius and, ideally, below 1.5 degrees Celsius.
2016 marked the start of a new era in global action against climate change, with the entry into force of the Paris Agreement on November 4, less than a year after its adoption. The Marrakech Action Proclamation, issued at the end of the 22nd Conference of the Parties (COP 22) to the United Nations Framework Convention on Climate Change (UNFCCC) in November 2016, reaffirmed the Parties’ commitment to the implementation of the Paris Agreement and encouraged the ratification of the Doha Amendment to the Kyoto Protocol.
Multilateral climate funds play a key role in using public finance to help drive the economic and societal transformation necessary to address climate change. There is growing pressure for policymakers to make the architecture of funds more effective and coherent. This report examines seven key multilateral climate funds and recommends operational and architectural reforms to improve their ability to deliver low-emissions and climate-resilient development.
2015 witnessed an historic global step forward in taking action on climate change. In Paris, world leaders reached an agreement at the 21st Conference of the Parties (COP 21) to the United Nations Framework Convention on Climate Change (UNFCCC) to keep the global average temperature increase to well below 2°C and pursue efforts to hold the increase to 1.5°C. The Paris Agreement encouraged all countries, for the first time, to make individual, voluntary commitments to contribute to this global goal, marking the beginning of a new era in the cooperative effort to limit climate change.
The call for a 100% renewable energy future is gaining widespread support. It is a clear and simple concept, which expresses perfectly the ambition signaled by countries in signing of the 2015 landmark Paris Agreement. Holding global average temperature rise well below 2°C, not to mention a much safer limit of 1.5°C, requires nothing short of the complete decarbonisation of the energy sector. But the world is a complex place; what works in one country doesn’t necessarily work in another. Finding solutions for some sectors is easier than for others. The stakes are high – financially, environmentally and socially – and as the transition progresses, there will be clear winners and losers.
The supply chain is the new frontier in environmental responsibility – an area rich with opportunity that remains mostly unexplored, where a number of pathfinders are starting to show others the value that can be found. Large public and private sector organizations have enormous purchasing power, often engaging with thousands – or tens of thousands – of direct and indirect suppliers. By harnessing the power of their procurement decisions it is possible for them to cascade their own commitments throughout the supply chain.
UEFA EURO 2016 was a large-scale football event in France involving 24 teams, 51 games played in 10 stadiums, and 2.5 million ticket holders. This post-event report follows up on the one-year-to-go report, detailing the operational implementation of social responsibility and sustainabilitymeasures
Renewable energy set new records in 2015 for dollar investment, the amount of new capacity added and the relative importance of developing countries in that growth. All this happened in a year in which prices of fossil fuel commodities – oil, coal and gas – plummeted, causing distress to many companies involved in the hydrocarbon sector. So far, the drivers of investment in renewables, including climate change policies and improving cost-competitiveness, have been more than sufficient to enable renewables to keep growing their share of world electricity generation at the expense of carbon-emitting sources.
The rapid worldwide expansion of renewable energy in recent years has been largely driven by support policies. Typically, these aim to address market failures in an effort to promote the uptake of renewable energy while achieving a number of other objectives, including energy diversification, the development of a local industry and job creation.
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19 September 2017
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13-14 November 2017
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