» December 28 2017 - #Geopolitics [#CSIS report] #US #NaturalGas in the #GlobalEconomy. The outlook for natural gas markets is evolving rapidly under pressure from two significant developments, the shale revolution in the United States and the advancement of LNG markets. The shale revolution, made possible by the economically viable extraction of large natural gas (and oil) deposits trapped in geologic formations, has seen natural gas production in the United States increase by nearly 50 percent over the past 10 years. The United States is producing and consuming natural gas at record levels, bringing with it an array of economic and strategic advantages in improving U.S. trade and industrial competitiveness, while altering the electric power mix and thus providing for environmental benefits [...]

» December 27 2017 - #Geopolitics #ClimatePolicy [#FT] A year in energy: what we have learnt in 2017. #Opec's influence, bringing back Coal and responses to #ClimateChange [...] The fact that Brent is hanging on above $60 per barrel, at a time when US shale production is surging and global crude inventories are expected to rise, testifies to Opec's enduring clout [...]

» December 27 2017 - #Geopolitics #Coal [#ieefa] #BHP, the world's largest mining company [...] may quit the World Coal Association [...] Nearly 20% of BHP's earnings before interest, taxes, depreciation and amortization (Ebitda) in fiscal year 2017 came from coal, and return on capital employed was a healthy 23%, higher than for all its other major commodities except iron ore. But most of that juice comes from metallurgical coal-used to make steel-and not thermal coal for power generation. BHP estimates that every $1 change in met coal prices will move its 2018 Ebitda by $43 million, compared with $18 million for every equal change in thermal coal price [...]

» December 22 2017 - #CarbonMarket #ClimatePolicy [#FT] #China moves towards launch of #CarbonTradingScheme. China has taken the first step towards launching its much-delayed carbon emissions trading scheme by setting emissions quotas for companies in the power sector [...] Capping emissions for China's power sector is a daunting undertaking in any case. The sector emits 3.3bn tons of carbon dioxide annually, and a carbon trading scheme regulating it would be about 1.7 times bigger than the EU's carbon market. While more Chinese companies have taken steps to establish internal carbon monitoring procedures, almost half anticipate that China will only have a fully functional ETS between 2021 or 2025, according to an annual survey administered by the China Carbon Forum (CCF) [...]

» December 22 2017 - #ElectricityMarket #GasMarket [#Ofgem, Britain's energy regulator] Great Britain and Northern Ireland Regulatory Authorities Reports 2017. Ofgem publishes latest annual reports on energy network price controls [...] Electricity generation in Britain is moving away from using large fossil-fuelled plants, towards local, renewable plants. More generation is connecting to the lower voltage distribution grids, instead of the high voltage grids [...] Six generation companies had market shares exceeding 5%. The largest three companies generated almost half of the electricity supplied to the GB market 2016 [...] Almost all final consumer prices in the GB retail energy markets are determined by market forces, as all price controls on final consumer prices were lifted by April 2002. The prepayment segment is an exception, as a temporary price cap was introduced from April 1 2017 as recommended by the Competition and Markets Authority. In addition, there are elements of the final price that are attributable to the regulated aspects of the market, in particular distribution and transmission charges, which are price controlled [Natural Gas] In 2016, there were 27 gas Distribution System Operators (DSOs), of which eight were incumbents and 19 embedded. We continue to have eight incumbent gas DSOs (ie no change in 2016) [...]

» December 22 2017 - #Energy #Economics #Outlook [The 2018 edition of #BP #EO will be launched on 20 February] Global #EnergyMarkets are changing faster than ever. This year has seen another year of exceptional growth in #RenewableEnergy, the momentum around electrical vehicles (#EV) and the mobility revolution has intensified even further. At the same time, #Oil markets have stabilised and global #Gas consumption, particularly in Asia, has expanded strongly as the balance of global energy demand and production continues to shift [...]

» December 21 2017 - #SustainableFuture #Energy #SDGs #Asia [#UNDP] Games About Change, impact case studies from 16 countries across Asia and the Pacific with games and activities designed to spur readers to think about energy and the ways in which the world can shift to a cleaner, more sustainable future [...] Energy poverty continues to impact communities around the world. A majority of households in rural areas across Asia and the Pacific remain without access to modern forms of energy to cook, light their homes and provide heating. Governments are making bold efforts to improve access to energy and reduce emissions. The book highlights examples of UNDP-supported projects from India - where the government is working to improve energy efficiency in the national railway systems and to develop sustainable urban transport - to Indonesia, where efforts have focused on nurturing investment in the renewable energy sector [...]

» December 21 2017 - #Energy #SustainableInvestmentFunds [#ING] further sharpens #Coal policy to support transition to #LowCarbonEconomy. ING has decided to accelerate the reduction of financing to coal power generation, reducing its exposure to close to zero by 2025 [...]

» December 21 2017 - #Geopolitics [#alarabiya] #SaudiArabia, The largest expenditure budget in the history of the Kingdom. The budget takes into account the lower #OilPrice levels compared to previous years, and has been planned in order to continue development and enhancement process towards achieving the Kingdom's Vision 2030, that aims at increasing the size of the national economy and sustain its growth, through diversification of the economic base, sources of income and the capacity to adapt to developments and for overcoming challenges [...] decreasing the deficit of the budget of the current fiscal year to 8.9% of the GDP from 12.8% during the last fiscal year: Approved 2018 Saudi budget: Expenditure 214.5 bln EUR, revenues 175.7 bln EUR, deficit 43.8 EUR [...] Fiscal balance expected to be achieved in 2023 with expenditure of 254.5 bln EUR, revenues 255.4 bln EUR, surplus o.9 bln EUR. The 2018 state budget will be funded from the following sources: 50% from oil revenues, 30% from non-oil revenues, 12% from debt and 8% from government balances [...]

» December 21 2017 - #SustainableFuture #SDGs #GreenClimateFunds [#UNEnvironment] and #BNP Paribas will collaborate to identify suitable commercial projects with measurable environmental and social impact, with a target of capital funding amounting to USD 10 billion by 2025 in developing countries [...]

» December 19 2017 - #EnergyPolicy #EnergyTransition #LowCarbonEconomy [#EU] Creating a modern #ElectricityMarket. The Council agreed its negotiating position (general approach) on a regulation establishing the framework for an internal electricity market across the EU. This regulation is one of the legislative proposals of the clean energy package and is the cornerstone of the redesign of the electricity market. It revises the rules and principles to ensure a well-functioning, competitive and undistorted electricity market with the aim of enhancing flexibility, decarbonisation and innovation. In so doing, it will help the EU transition towards a low-carbon economy and meet the objectives of the Energy Union, in particular the 2030 climate and energy framework [...] there are new rules to ensure appropriate conditions for electricity trading within different timeframes, but with a definite aim to bring trading closer to the real-time. This will allow higher share of renewables production in the energy systems. The new rules on dispatching and balancing responsibility will limit the distortions on the market allowing less exemptions compared to now. The principles for establishing 'bidding zones', in other words electricity trading areas, are more clearly defined. The rules on capacity allocation as specified in the Commission's proposal require maximum capacity to be allocated to the market participants on the border of a bidding zone. In the Council text, a benchmark level of maximum capacity is established on the border and must be respected. Countries below the benchmark level will need to start implementing remedial actions or reconfigure the bidding zones. A deadline has been introduced for the entire process, and the Commission is given the opportunity to intervene if the benchmark has not been met by then. Installations will continue to be rewarded for making electricity generation capacity available through capacity mechanisms to cope with peak demands. To ensure the smooth functioning of the internal market, the rules for these mechanisms must be harmonised. The Council position sets out the design principles for capacity mechanisms as well as arrangements for their implementation. An important element is that new installations will be eligible to participate after 2025 only if their emissions are below 550gr CO2/kWh or below 700 kg CO2 on average per year per installed kW. Also there is a limit for participation for existing power plants which cannot receive payments after 2030 and the payments need to decrease after 2025 [...]

» December 21 2017 - #SustainableFuture #SmartCity #GreenClimateFunds [#EBRD] and global cities group scale up #GreenUrbanFinancing [...] Under the new partnership, the EBRD and the GCoM are seeking to drive climate action in up to 60 cities, including many that have not been a focus for climate support so far [...] Under the new partnership, the EBRD and the GCoM are seeking to drive climate action in up to 60 cities, including many that have not been a focus for climate support so far. The EBRD will provide over US$ 500 million in "first mover" financing aimed at leveraging additional third party contributions for the development and implementation of city action plans and projects worth a total of US$ 1.5 billion [...]

» December 19 2017 - #Geopolitics #EnergyStrategy [#ogfj] #PeakOil, neverending story: #PeakOilDemand. A threat to oil company valuations? The past couple of years have seen a shift from concerns that oil supply would soon peak to a recognition of the potential for oil demand to peak and decline, which would have a significant impact on the value of oil companies' equities, comparing it to the sharp downdraft in US coal company stocks. Unfortunately, there remain some serious questions and uncertainties that will be addressed here [...]

» December 18 2017 - #Oil #Opec #Iea [#Bloomberg] The battle of forecasts: The two most critical forecasts of global #Oil markets offer contrasting visions for 2018: one in which OPEC finally succeeds in clearing a supply glut, and another where that goal remains elusive. In the estimation of the Organization of Petroleum Exporting Countries, production curbs by the cartel and its allies will finally eliminate the excess oil inventories that have depressed crude prices for more than three years. But in the view of the International Energy Agency, which advises consumers, that surplus will barely budge [...]

» December 15 2017 - #Energy [#iea] Changing utility business models and electricity investment in Europe [...] Digital technologies are facilitating new business models, such as virtual power plants (VPPs), based on bilateral power exchange and increased roles for consumers and third parties to provide energy, capacity and flexibility services that were once the exclusive domain of utilities. Recent financial performance of European utilities reflects these trends. In 2017, the aggregate earnings of the top twenty utilities likely continued to decline, to around 35% lower than in 2012. This reduction over time stemmed mostly from reduced profitability for merchant generators (largely thermal plants) fully exposed to weak wholesale market pricing, as well as lower revenues from the retirements of these plants. In the past five years, retirements of thermal capacity in Europe have outpaced investment decisions for new thermal plants by more than two-to-one [...]

» December 15 2017 - #Economy #Finance [#ClimateAction100+] Global Investors Driving Business Transition. To date 225 investors with 26.3 trillion in assets under management have signed on to the initiative. A full list of investors backing the initiative [...]

» December 14 2017 - #EnergyPolicy [#IEA] #China moves to a "new normal", Energy outlook. China is changing and its energy future promises to be quite different from its energy past. For years, the dominant energy narrative on China concentrated on the extraordinary pace of its development, the country's success in lifting hundreds of millions of its citizens out of poverty (including energy poverty), the scale of its industrialisation and its demand for energy resources, most notably for coal. While elements of this narrative remain true, the country is quickly changing course in the direction of a much more services-based economy and a much cleaner energy mix. This new direction will have consequences that are no less significant for China and the world than its earlier period of energy-intensive development. The pace of growth in China's energy demand slows dramatically in the New Policies Scenario to around 1% per year, less than one-sixth the average that the country has experienced each year since 2000. This is due to the combined effects of structural shifts in the economy, strong energy efficiency policies and demographic changes: total energy demand growth to 2040 is roughly the same level of growth as China experienced in the eight years between 2008 and 2016. Since the economy continues to grow rapidly, at an average rate of 4.5% per year, this equates to an improvement of 3.4% per year in energy intensity, the fastest rate of improvement seen worldwide in our projections to 2040. Per-capita energy consumption also grows, by one-quarter through to 2040, overtaking that of the European Union by around 2035. China's growing energy needs are increasingly met by renewables, natural gas and electricity while coal demand falls back [...]

» December 14 2017 - #ClimateRisk #Finance [#Bloomberg] #BlackRock Inc., the world's biggest asset manager, is telling companies that now is the time to start reporting clear information on climate risk to their businesses. The firm, which oversees almost $6 trillion in assets, sent letters from its corporate-governance team to about 120 companies this week, urging them to report climate dangers in line with the recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures, set up by Bank of England Governor Mark Carney [...]

» December 14 2017 - #ClimatePolicy #HotAir #NDCs [#SEI] The environmental integrity risks of international #CarbonMarkets under #Article6 of the #ParisAgreement. A considerable risk is that several countries have mitigation targets that correspond to higher levels of emissions than business-as-usual (BAU) projections. The amount of "hot air" contained in current NDC targets is estimated to be similar in magnitude as the total mitigation pledged by countries with NDC targets that are more stringent than BAU. If such hot air can be transferred to other countries, it could increase aggregated GHG emissions and create a perverse incentive for countries to set future NDC targets at less ambitious levels. In order to address these risks, international transfers could be subject to quantitative limits. We propose a typology for such limits, explore key design options, and roadtest them in the context of 17 countries. Our analysis indicates that limits on international transfers, if designed appropriately, could prevent most of the hot air contained in current NDC targets from being transferred. This report was commissioned by the Federal Public Service Health, Food Chain Safety and Environment of the government of Belgium [...]

» December 14 2017 - #ClimatePolicy [#aims] Increasing the value of #ClimateFinance in an uncertain environment: Diaspora financial resources as a source of climate finance for #SubSaharan #Africa. Effective climate change policy and programme development and implementation has largely been hampered by low levels of funding being provided to climate change initiatives and a general lack of awareness about climate change impacts on society. The financing requirements for effective climate change mitigation and adaptation even though not definite and precise, suggest that there will be a need for substantial investments in infrastructure as well as other soft measures, and that public resources might not suffice in meeting this financing need [...]

» December 14 2017 - #ClimateFinance [#Germanclimatefinance] Adaptation to #ClimateChange: a closer look at #Germany's climate aid for #DevelopingCountries. Following the current international discussion, the study analyzed two dimensions: the scope of funding provided for adaptation, and the quality of the projects thus supported in developing countries. The present analysis of German climate finance considered both of these factors. To this end, we analyzed the bilateral projects that the Federal Ministry for Economic Cooperation and Development (BMZ) and the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Construction (BMUB) reported as adaptation-related climate finance in the years 2013 to 2015. We studied the project descriptions that the ministries and implementing organizations have published on their websites; these were available for about half the projects at the time of the analysis [...]

» December 13 2017 - #ClimatePolicy [#WB] At the #OnePlanetSummit [...] the World Bank Group made a number of new announcements in line with its ongoing support to developing countries for the effective implementation of the #ParisAgreement's goals [...] The World Bank Group will no longer finance upstream #Oil and #Gas, after 2019. (In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries' Paris Agreement commitments) [...]

» December 13 2017 - #Geopolitics #Oil [#PE] Qatar's oil strategy is to stem further production declines, as it tightens its economic belt and keeps the investment focus on natural gas. If a day comes soon, with or without Opec/non-Opec consent, when Gulf oil producers decide to open the taps to the full, Qatar's contribution won't make the headlines. Saudi Arabia, with healthy spare capacity, and Kuwait-hopeful of reclaiming its 250,000-barrels a day Neutral Zone half-share and reaching its long-desired 4m b/d capacity target-are the Gulf's best hopes for adding new crude oil to the market [...]

» December 12 2017 - #Geopolitics #Oil [#WoodMac] What are the prospects for #TightOil outside the US? If US tight oil can emerge so quickly to disrupt the market, perhaps other plays out there might have the same effect [...] Wight oil plays across eight countries [would] contribute to global supply by the late 2020s. Algeria, Colombia, China, Egypt and Mexico each have an embryonic tight oil industry, and shouldn't have much impact in that period. Argentina, Canada and Russia are rather more advanced [...]

» December 11 2017 - #Economy #FourthIndustrialRevolution #4IR [#cigi] #Innovation and #Prosperity in an Age of #Transition [...] No one can see the future in clear precise outline, especially out 10 years or more. Generally, I think there is a tendency to think that what is possible to imagine or foresee will happen faster than it actually does. But it seems reasonable to operate on the premise that societies that will navigate successfully through a period of profound structural change and thrive in terms of growth, quality of work and adaptability to change are those in which creativity is fully unleashed and innovation is deeply embedded in the culture [...]

» December 11 2017 - #EnergyTransition #LowCarbonEconomy #G20 [#nrdc] Power Shift: New Report on International #Coal vs. #RE #Finance [...] G20 nations, and the multilateral development banks in which they play a key role, financed $38 billion USD in coal projects abroad but only $25 billion in renewables projects between 2013 and 2016 [...] there's a pipeline for over $28 billion USD in future coal projects compared to only $14 billion USD for future renewables projects that G20 nations are financing beyond their borders. Given the falling costs of renewable energy and the dire health and environmental impacts associated with coal, governments should not be using their funds to invest in more coal projects abroad. The Paris Agreement called on nations to support a low-carbon future. G20 financial institutions could lead the clean energy transition, but not all of them have made that commitment [...]

» December 11 2017 - #EnergyPolicy #ClimateChange [#WB World Bank] Establishing Scaled-up Crediting Program Baselines under the Paris Agreement. This report offers guidance and identifies options for developing baselines for scaled-up crediting programs under the Paris Agreement. Establishing baselines is partly a technical, methodological challenge, but the biggest uncertainties arise from unresolved questions regarding international rules under Article 6 of the Paris Agreement, as well as how crediting programs may interact with achievement of countries' "nationally determined contributions" (NDC). How scaled-up crediting programs should complement a host country's overall climate and sectoral policy goals, and how to coordinate baseline development - and overall crediting program design - with other aspects of national climate policy? This report has laid out some core principles that are likely to inform rules for new crediting mechanisms (i.e., environmental integrity and avoiding double counting), and presented some options and preliminary considerations for how to establish baselines in light of these principles [...]

» December 11 2017 - #EnergyPolicy #ClimateChange [#Naturalgasworld] #Coal continues to play a major role in the electricity generation for several #EU countries: 80% in Poland, and over 40% in the Czech Republic, Bulgaria, Greece, and Germany. Even the gas-exporting Netherlands produces 35% of its electricity from coal. So far only a few EU countries have pledged to shut down their coal-fired power plants altogether: the UK, France, Italy and the Netherlands [...] The European Union should act to ensure the continued transformation of its energy system, and encourage member states to overcome their dependence on coal for supplying electricity. Helping coal-mining regions with the transition should require €150 million per year - a mere 0.1% of the total EU budget - and the EU would not even need to establish a new fund to support it [...]

» December 7 2017 - #Mitigation #ClimateChange [#Mitigationmomentum] NAMA status report 2017. NAMAs have played an instrumental role in climate change mitigation activities of #DevelopingCountries. It is true that NAMAs are not embedded per se in the Paris Agreement, but the statistics show a trend that suggests that NAMAs will continue to exist as an instrument to implement NDC mitigation targets and supporting the climate finance discussions [...]

» December 7 2017 - #EnergyFuture [#Snam #BCG Global #Gas report 2017] The #NaturalGas market is at an inflection point: what will it take for growth forecasts to be achieved going forwards? LNG is continuing to grow, becoming more globalized. LNG prices continued to decline and converge across regions in 2016. Gas consumption in key markets rebounded, with Europe leading the way. Gas availability and market liquidity continue to expand as the market develops. The future of gas is inextricably tied up with that of coal, particularly in Asia. Evolving perceptions of the sustainability of gas may play in its favour [...]

» December 6 2017 - #EnergyTransition [European Union Energy Initiative Partnership Dialogue Facility #EUEI report] #Energy and #ClimateChange #Adaptation in #DevelopingCountries. This study aims to provide a rarely discussed analysis of the interlinkages between the energy sector and climate change adaptation in order to support the donor community with recommendations on how to effectively introduce a climate change adaptation approach for energy sector projects. Indeed, the conclusions from this report reflect that increased funding for climate change adaptation in the energy sector, as well as targeted specific interventions for climate-adapted energy systems can fill the resilience gap and spur sustainable energy development [...]

» December 5 2017 - #Economics #GreenEconomy [#INET #Oxford Martin School #GEC report] The wealth of nature. Increasing national wealth and reducing risk by measuring and managing #NaturalCapital. Human prosperity and wealth has increased dramatically over the last 200 years. There have been marked reductions in poverty and increases in access to food, water, energy and housing across the globe. Earth now supports over 7.5 billion people at an average per capita income of over US$10,000 annually (World Bank, 2010). The poverty trap predicted by Malthus, (1798), has thus far, been avoided. However, globally, there are many frailties. Scientific research shows that some natural capital is in a poor state, with strongly adverse trends. There is clear evidence of wide-spread ecosystem degradation and declining resilience in food and water systems. Societal risks arising from interruptions of supply chains, extreme weather, species losses and erosion of topsoil and reduced agricultural yields are being documented around the world. This report considers the linkages between natural capital and human prosperity. It finds that the erosion of natural capital poses threats to continued national and global prosperity, yet political and economic systems are unprepared for responding to that risk for three reasons [...]

» December 5 2017 - #GHGs #Emissions #UNFCCC #ParisAgreement [#CIGI] How Satellites and Big Data Can Improve the Validity of #ClimateChange Reporting [...] the methods that nations are using to determine GHG emissions as part of their commitment to the United Nations Framework Convention on Climate Change (UNFCCC), and ways in which new technologies, frameworks and organizations could work towards a standardized international data set to support implementation of the Paris Agreement on Climate Change. For example, could statistical methodology approaches for determining GHG emissions data be supported by integrated data from satellites, land-based measurement stations and statistical data? More questions arise from the integration of these data sources: who has control over the data? How will the in-situ components be coordinated, and what are the security risks to an open-data policy? [...]

» December 4 2017 - #EnergyPolicy #Coal [#CIAB #IEA)] An International Commitment to #CCS: Priority Actions to Enable CCS Deployment. A specific suite of policies and incentives that would stimulate the private sector and government to reach the required CCS deployment rate. Research focuses on the US, the UK, Australia and China, which are key countries in terms of their overall emissions. They can also provide policy lessons for other governments. These examples show that commercial-scale projects of first-generation CCS technology can work. Deployment of the next generation of projects will require governments to put well-designed policies in place, public and private banks to finance projects, and industry to drive project development and technical innovation. The report suggests that government and industry need to work together to develop projects that distribute risk and cost in a way that is consistent with the level of public and private benefit achieved [...]

» December 4 2017 - #EnergyPolicy #Geopolitics [#Eni #Weo] Rome, 1 december, Presentation in Italy of the World Energy Outlook 2017, The world #EnergyMarket scenarios: Fatih Birol (Iea) presentation and videos of the speeches [...]

» December 4 2017 - #ClimateFinance #ClimatePolicy [#Mckinsey report] Financing change: How to mobilize private sector financing for sustainable infrastructure. [...] Global infrastructure spending would need to be doubled from $2.5-3 trillion per year to $6 trillion. Over 60 percent of the gap was projected to be in middle-income nations [...] How countries build and operate infrastructure will be a major factor in whether they can deliver on their intended nationally determined contributions (#INDCs) [...]

» December 4 2017 - #SustainableBusiness #ClimateFinance #MultinationalCompanies [#WB group report] Engaging the Private Sector in Results-Based Landscape Programs: Early Lessons from the #WorldBank's Forests and Landscapes #ClimateFinanceFunds. This paper captures early observations by the World Bank Forests and Landscapes Climate Finance Funds in engaging the private sector, particularly multinational companies involved in global agricultural commodity supply chains, in the context of emission reductions programs to address land use change. The World Bank Group's Forest Carbon Partnership Facility (FCPF) and the BioCarbon Fund Initiative for Sustainable Forest Landscapes (ISFL) have spent years working with private sector companies that produce, trade or buy commodities that play a role in driving deforestation or forest degradation. These funds have gained valuable insights into what has worked, and what more is required to further shift private sector behavior toward sustainable business models [...]

» December 4 2017 - #EnergyPolicy #Geopolitics [#Japantimes] Facing the new energy and #ClimateRealities. The new realities of energy and climate change must now be squarely faced. The two most salient of these are: that American shale oil and gas output is set to rise higher than ever, making the United States the world's largest producer, and that atmospheric carbon emissions are now rising at the fastest rate in 3 million years [...]

» December 4 2017 - #Oil #Gas #Finance #InstitutionalInvestors #StockMarket § [#ieefa] #Oil stocks exclusion from equity benchmark index. Norwegian Government Pension Fund Global (#GPFG), Takeaways from the #NorgesBank decision: First, the bank has concluded that overall performance will improve by ridding the fund of this whole sector of financial laggards. A comparison by the Bank of the performance of an index of just oil stocks and of five large oil companies-Exxon Mobil, BP, Royal Dutch Shell, Chevron and Conoco Philips-against the broad equity market tells the story. Since the 1970's, oil and gas stocks drove the equities market; they led most indexes up in good times and down in bad. That dynamic has changed. Instead of correlating with the broader stock market, oil and gas stocks have "decoupled." So while the stock market has been rising, oil prices and stocks are declining. And it is the consensus within Norway that the current low oil price environment will continue through 2060 [...]

» December 1 2017 - #EU #ClimateChange #CircularEconomy #Productivity § [#EuropeanCommission Report] #LowCarbon #Research and #Innovation. Building a low-carbon, #ClimateResilientFuture. Climate change is undoubtedly one of the greatest challenges of our time. The European Union is a world leader in climate action. The EU's energy union strategy recognises that wiser energy use, while fighting climate change, is both a spur for new jobs and growth and an investment in Europe's clean and sustainable future. 'Business as usual' is clearly not an option. We need to boost investment in research and innovation in order to create breakthroughs in low-carbon solutions. Such breakthroughs drive the transition to a cleaner, greener society and improve our competitiveness. The challenge is huge, cross-sectoral and multidisciplinary by nature. For this reason about €3.4 billion will be invested in the focus area 'Building a low-carbon, climate-resilient future' from the final work programme (2018-2020) of Horizon 2020 - the European Union's research and innovation funding programme [...]

» December 1 2017 - #EU #ClimateControl #SustainableLandManagement #SustainableSeaMnagement #CircularEconomy #Productivity § [#EuropeanCommission Report] New Horizons: Future Scenarios for #Research & #Innovation Policies in Europe. The growing complexity of the world will require that society develop more options for coping. Options will come from new discoveries, inventions, ideas - in short, from research and innovation. This foresight report [...] draws on a broad range of sources about megatrends shaping the world today and projects them forward into the 2030s. The report describes two possible outcomes: That the trends go on unmanaged and uncontrolled, or that society takes action. The first outcome would be negative: climate change, environmental degradation, explosive migration, an unhealthy population, crowded and dangerous cities, mass unemployment and global strife - and Europe a victim. The second outcome would be positive: climate control, sustainable land and sea management, a circular economy with greater productivity, a healthier and longer-lived population with fulfilling work and leisure, peace - and Europe a leader [...]

» December 1 2017 - #Oil #Geopolitics § [#OPEC] The Declaration of Cooperation is amended to take effect for the whole year of 2018 from January to December 2018, while pledging full and timely conformity of OPEC and participating non-OPEC countries in accordance with voluntary agreed production adjustments - 1.2 mb/d (OPEC), 558 tb/d (non-OPEC). In view of the uncertainties associated mainly with supply and, to some extent, demand growth it is intended that in June 2018, the opportunity of further adjustment actions will be considered based on prevailing market conditions and the progress achieved towards re-balancing of the oil market at that time. Azerbaijan, Kingdom of Bahrain, Brunei Darussalam, Kazakhstan, Malaysia, Mexico, Sultanate of Oman, the Russian Federation, Republic of Sudan, Republic of South Sudan maintain to continue to adjust their respective oil production, voluntarily or through managed decline.Pledge to fulfil their full commitment under this Declaration of Cooperation, individually and collectively; To strengthen their cooperation through a dynamic and transparent framework, including regular monitoring, joint analyses and outlooks for a sustainable market stability in the medium- to long-term, for the benefit of producers and consumers; To support the extension of the mandate of the Joint Ministerial Monitoring Committee (JMMC) composed of Algeria, Kuwait, Venezuela, Saudi Arabia and two participating non-OPEC countries of the Russian Federation and Oman, chaired by Saudi Arabia, co-chaired by the Russian Federation, and assisted by the Joint Technical Committee at the OPEC Secretariat, to closely review the status of and conformity with the Declaration of Cooperation and report to the OPEC - non OPEC Conference; To ensure continuity and proactive cooperation through established regular meetings at technical and ministerial levels. [...]

» November 30 2017 - #Oil #Geopolitics § [#Platts] OPEC ministers agreed to a nine-month extension of their production cut agreement through the end of 2018, and will call on Libya and Nigeria not to exceed a combined output of 2.8 million b/d [...]

» November 30 2017 - #Gas #Geopolitics #EU § [#Raszewski, S. (ed.) The International #PoliticalEconomy of #Oil and Gas: Governing the Resources in Changing Contexts, Palgrave Macmillan, 2018, pp. 73-86, By Rafael #LealArcas] Natural Gas, US Shale Dynamics and Energy Security: A View from the European Union, an analysis of natural gas as a source to enhance energy security in the European Union (EU). To set the scene, section 2 gives an overview of the Gas Exporting Countries Forum as an example the gas oligopoly in today's market. Section 3 shows the basics of natural gas transportation and shale gas extraction, whereas sections 4 and 5 provide an analysis of how the EU can increase its imports of liquefied natural gas (LNG) to diversify its energy supplies and what the implications of the US shale gas revolution are for EU energy security [...]

» November 30 2017 - #PowerSystem #Netherlands § [#ECN #FlexNet Project] FLEXibility of the power system in the NETherlands, to analyse demand and supply of flexibility in the power system of the Netherlands up to 2050 at both the national and regional level. The project was commissioned and funded by the Top Sector Energy (TSE) under the tender programme System Integration. In addition, the project was cofounded by GasTerra and Energie-Nederland [...] The FLEXNET project consisted of three phases, each addressing a specific main question: Phase 1 ('The demand for flexibility'): what are the flexibility needs of a sustainable and reliable power system in the Netherlands up to 2050? Phase 2 ('The supply of flexibility'): which mix of robust flexibility options can meet the predicted flexibility needs in a socially optimal way? Phase 3 ('Societal framework to trade-off grid reinforcement and deployment of flexibility'): in which situations is deployment of flexibility a more attractive option than grid reinforcement to overcome predicted overloads of the power network? The FLEXNET project has resulted in the following publications [...]

» November 30 2017 - #Oil #Geopolitics § [#Washingtonpost] #Eni receives federal permit for US Arctic #Offshore drilling. A subsidiary of an Italian energy company has received a federal permit to drill the first oil exploration wells in U.S. Arctic waters in two years. The federal Bureau of Safety and Environmental Enforcement announced Tuesday it has approved an application from Eni U.S. Operating Co. Inc. to drill exploratory wells in the Beaufort Sea. Drilling could begin next month from Spy Island, a gravel artificial island in state waters about 3 miles (4.8 kilometers) off the coast near Prudhoe Bay. Eni will use extended-reach drilling techniques to reach federal submerged lands [...]

» November 29 2017 - #EmissionsTrading #CarbonMarket #PublicPolicy § [#ChinaCarbonForum] 2017 #China #CarbonPricing survey. The results of the survey give strong confidence that carbon price levels in China will rise over time, and that carbon pricing will increasingly affect investment decisions. China has announced that a national emissions trading system will start by 2017. However, on average, the survey respondents' expectation is that it could take until at leas 2020 before thennational ETS is fully functional. In the lead up to thenational ETS,significant capacity building has been conducted, but much more is needed. [...] ETS isexpected to become the most important policy instrument to motivate companies to reduceGHG emissions in the coming decade. There is strong confidence that China willmeet its target to peak emissions by 2030 [...]

» November 29 2017 - #Geopolitics #Oil #US § [#PetroleumEconomist] #TightOil, Output will rise again in 2018, but less drilling and greater capital discipline will slow growth [...] America's tight oil producers will add new supply in 2018, but the pace of additions will slow. Investors have been fretting over the growth-at-all-costs model, and a more tempered approach will take hold. Drilling activity rose sharply from June 2016 to June 2017; the rig count in the top four tight oil basins more than doubled. Production tends to lag a new well by about six months, so that run-up fuelled strong output growth through 2017. But the rig count crested in the summer and fell back to about 520 rigs for the rest of 2017. Unless a sudden price surge changes things quickly, the effect will be felt in early 2018 [...]

» November 28 2017 - #EnergyPolicy #ClimatePolicy #PoliticalEconomy § [#EU] The Third Report on the State of the #EnergyUnion shows that Europe's transition to a #LowCarbon society is becoming the new reality on EU's ground [...] The Third State of the Energy Union also confirms that energy transition is not possible without adapting the infrastructure to the needs of the future energy system. Energy, transport and telecommunication infrastructure are more and more interlinked. Local networks will become ever more important in the daily lives of European citizens, who will increasingly switch to electro-mobility, decentralised energy production and demand response. Considerable achievements have been made but bottlenecks remain particularly in the field of electricity. To address this, the Commission today adopted a Communication on the 2030 electricity interconnection target of 15%. It also adopted the third list of Projects of Common Interest (PCI) [...] Geopolitical events have kept energy and climate at the top of the agenda in 2017. The intention of the US Administration to withdraw from the Paris Agreement prompted the EU to show leadership by reinforcing synergies between its climate and energy diplomacies in response. The EU will continue to reaffirm its commitment to the global fight against climate change and to strengthening its existing global partnerships. The State of the Union also underlines that while global changes in energy production poses serious challenges to Europe it also creates unique opportunities for Europe to step up its role as a global leader in the clean energy transition while providing energy security to all its citizens. Showing ambition on issues such as renewables, energy efficiency, climate action and clean energy innovation and ensuring the right price signals in the market, is a precondition to attract investments in modernising the entire EU economy to the benefit of citizens. The Energy Union has delivered but continued engagement is key in achieving the remaining tasks. All the Energy Union related legislative proposals presented by the Commission need to be addressed as a priority by the European Parliament and Council [...] was adopted: 3rd report on the State of the Energy Union and Annex 1: Updated Energy Union roadmap; Annex 2: Policy observations; Annex 3: State of play of preparations on national energy and climate plans; Annex 4: Progress in Accelerating Clean Energy Innovation; 28 Member States Energy Union fact sheets - 3rd list of Projects of Common Interest -Infrastructure Communication (on the implementation of the 15% electricity interconnection target) - Energy Efficiency Progress Report - Report on the functioning of the European carbon market - Report on the Covenant of Mayors - Trends and projections report of the European Environment Agency - Study on Residential Energy Prosumers [...]

» November 28 2017 - #Geopolitics #Gas #EU § [#ENTSOG] Union wide SoS simulation report. Union-wide simulation of gas supply and infrastructure disruption scenarios (SoS simulation) [...] ReferenceScenario. Scenario 1 - Disruption of all imports to EU via Ukraine. Scenario 2 - Disruption of all imports to EU via Belarus. Scenario 3 - Disruption of one offshore pipeline of Nord Stream. Scenario 4 - Disruption of the onshore receiving facility of Nord Stream Scenario 5 - Disruption of all imports to the Baltic states and Finland. Scenario 6 - Disruption of the largest infrastructure to the Balkan region. Scenario 7 - Disruption of the largest offshore infrastructure to the UK. Scenario 8 - Disruption of the largest offshore infrastructure to continental EU (EUROPIPE II). Scenario 9 - Disruption of the largest onshore infrastructure from Norway. Scenario 10 - Disruption of the largest L-gas storage (UGS Norg - The Netherlands). Scenario 11 - Disruption of the L-gas supply. Scenario 12 - Disruption of the largest infrastructure to Denmark Scenario 13 - Disruption of the largest offshore production infrastructure from the UK. Scenario 14 - Disruption of the largest offshore infrastructure to Italy. Scenario 15 - Disruption of the largest offshore infrastructure to Spain. Scenario 16 - Disruption of all imports from Algeria including LNG. Scenario 17 - Disruption of the largest offshore infrastructure to Italy [...]

» November 27 2017 - #ClimatePolicy #EmissionReductionTargets § The #Accountability imperative for quantifying the #Uncertainty of #EmissionForecasts: evidence from #Mexico. Governmental climate change mitigation targets are typically developed with the aid of forecasts of greenhouse-gas (GHG) emissions. The robustness and credibility of such forecasts depends, among other issues, on the extent to which forecasting approaches can reflect prevailing uncertainties. We apply a transparent and replicable method to quantify the uncertainty associated with projections of gross domestic product growth rates for Mexico, a key driver of GHG emissions in the country. We use those projections to produce probabilistic forecasts of GHG emissions for Mexico. We contrast our probabilistic forecasts with Mexico's governmental deterministic forecasts. We show that, because they fail to reflect such key uncertainty, deterministic forecasts are ill-suited for use in target-setting processes. We argue that (i) guidelines should be agreed upon, to ensure that governmental forecasts meet certain minimum transparency and quality standards, and (ii) governments should be held accountable for the appropriateness of the forecasting approach applied to prepare governmental forecasts, especially when those forecasts are used to derive climate change mitigation targets [tandfonline.com]

» November 27 2017 - #Oil #Geopolitics § #OPEC and #nonOPEC oil ministers will meet in Vienna Thursday to discuss extending their production cuts beyond March 2018 [...] Aramco Sees Oil Market Balanced as U.A.E. Downplays Shale [Bloomberg] Demand for crude is continuing to rise and oil inventories are returning to the levels of the past five years, Aramco Chief Executive Officer Amin Nasser said Sunday in the eastern Saudi city of Dhahran. "This is helping prices improve," he said, as the Organization of Petroleum Exporting Countries and allied suppliers prepared to gather this week in Vienna to assess the market. U.A.E. Energy Minister Suhail Al Mazrouei said he's optimistic the producers will extend their deal on output cuts when they meet on Nov. 30. Shale oil represents only a fraction of global production and "is not an enemy to OPEC," he told reporters in Abu Dhabi, referring to the U.S. output that contributed to a worldwide glut [bloomberg.com]

» November 25 2017 - #Oil #ClimateChange #CarbonPricing § Singapore, #CarbonTax from 2019. #MajorOil and #Gas players support #Singapore's plans to tax greenhouse gas emissions. Despite concerns repeatedly voiced that a carbon tax could dent competitiveness, there is no evidence it has led any company to move out of a country [...] Forty-seven countries and states today have some form of carbon pricing, such as a carbon tax or an emissions trading scheme. Prices range from US$1 to US$140 per tonne of emissions [...] Singapore is looking to charge large emitters such as power stations between S$10 (US$7.35) and S$20 (US$14.69) per tonne of greenhouse gases emitted [...] electricity prices could increase by 0.43 (US$0.43) to 0.86 (US$0.63) cents per kilowatt hour, a fraction of current tariff rates - although observers cautioned there should not be a disproportionate impact on the poor [scmp.com]

» November 24 2017 - #ParisAgreement #Coal #HELE § #WCA, The current rate of #CCUS (Carbon Capture, Utilization and Storage) deployment is too slow to allow necessary emissions reductions goals to be achieved. Consistent policy support has been lacking for CCUS and instead we've seen fluctuations in support and therefore in progress. One of the key barriers to the increased deployment of CCUS is the availability of commercial finance. CCUS is currently highly capital intensive and has associated risks that tend to restrict sources of private finance. International financing can provide much needed support and ambitious funding is required by multilateral schemes to improve the financial viability of CCUS projects [worldcoal.org]

» November 24 2017 - #ClimatePolicy #GHGEmissions #CH4 § #BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall committed to further reduce methane emissions from the natural gas assets they operate around the world. The energy companies also agreed to encourage others across the natural gas value chain - from production to the final consumer - to do the same. The commitment was made as part of wider efforts by the global energy industry to ensure that natural gas continues to play a critical role in helping meet future energy demand while addressing climate change. Since natural gas consists mainly of methane, a potent greenhouse gas, its role in the transition to a low-carbon future will be influenced by the extent to which methane emissions are reduced. The eight energy companies today signed a Guiding Principles document, which focuses on: continually reducing methane emissions; advancing strong performance across gas value chains; improving accuracy of methane emissions data; advocating sound policies and regulations on methane emissions; and increasing transparency [wintershall.com]

» November 23 2017 - #GreenFinance #LowCarbonEconomy § #UNEP Inquiry, International Institute of Green, Estabilishing #china's green financial system: progress report. China has become a new growth driver in the global green bonds market. In the first half of 2017, China issued 36 green bonds worth RMB77.67 billion (US$11.7 billion). Of these bonds, the number and size of bonds grew 278 per cent and 28 per cent respectively compared with 2016. Many provinces and cities have established regional green development funds. By the end of 2016, 265 green funds were registered with the Asset Management Association of China, of which 215 were green industry funds. Some 121 of these were established in 2016. By the end of June 2017, 7,826 green and low-carbon projects, with a total investment of RMB6.4 trillion (US$0.96 trillion), were included in the national public-private partnerships projects catalogue, accounting for 57.7 per cent of the projects and 39.3 per cent of the investments in that catalogue. China established five distinct green finance pilot zones to explore different development models for the local green financial system against different backgrounds. The Chinese government and the business community have started to attach great importance to developing a green industry chain for outbound investment. With the Guidelines on Promoting Green Belt and Road, the APEC Green Supply Chain Network, and the Initiative on Environmental Risk Management for China's Outbound Investment, China is going global in its green investment practices [unepinquiry.org]

» November 23 2017 - #ClimatePolicy #Geopolitics § Bulletin of the Atomic Scientists, #Chomsky, "The stupid party": the Trump administration - by withdrawing the United States from the Paris Agreement, undermining the Iran nuclear deal, and failing to pursue a negotiated settlement with North Korea - has "sharply increased" the severe threats that humanity faces. Chomsky identifies a "very dangerous growth of irrationality" in the United States, warns of "incipient totalitarianism," and bemoans the "extreme, contrived, dedicated, organized stupidity" that in his view underlies Republican policies on #ClimateChange [tandfonline.com]

» November 23 2017 - #Coal #India § #IEEFA Report, #India's Electricity Sector Transformation. Momentum Is Building; #PeakCoal In Sight. Forecast (IEEFA) vs Foorecast (IEA). Electricity demand in India is expected to double over the coming decade, and how this electricity will be generated is critically important for both India and the world. We present an electricity sector model out to 2027 in this report showing how India can meet its growing electricity needs via increasingly cost-competitive renewable energy resources and numerous energy efficiency measures, while at the same time keeping its coal use in check, at perhaps no more than 10% above current levels. IEEFA's forecast is far from consensus. In contrast, the International Energy Agency (IEA) forecasts India's coal consumption will more than double by 2040 [ieefa.org]

» November 22 2017 - #Oil #Gas #CarbonRisk #BigOil § #WoodMackenzie Report, Beyond Paris: benchmarking #Upstream #Emissions to 2025. Emissions are set to outpace production, but value at risk is contained. By measuring relative outputs from over 31,000 oil and gas fields, we have derived consistent, bottom-up forecasts for the 25 largest international oil and gas companies' carbon emissions. The findings show that carbon emissions across the upstream segment are rising faster than production. Yet surprisingly, the value at risk for upstream assets is just ~-2%. What is the reason behind this divergence? [woodmac.com]

» November 22 2017 - #Germany #EnergyPolicy § German Renewable Energies Agency (#AEE), Atlas of the #Energiewende. The most recent available data on the state of play of renewable energies in Germany were used. On that basis, the atlas shows the opportunities of dynamic growth of renewables in Germany over the next decade. According to experts' estimate, renewables could meet more than two thirds of Germany's electricity needs, more than one third of heating demand and one quarter of the energy needs of the transport sector by 2030. Apart from showing the potential of wind, solar and other renewable sources, the atlas illustrates current challenges such as grid expansion and storage. Issues of transforming the energy system are taken up [unendlich-viel-energie.de]

» November 22 2017 - #SmartCity #SustainableDevelopment § #WEF, 7 ways towns and cities are turning from grey to green. Urbanization is a fact of modern life, but that doesn't necessarily mean city dwellers are abandoning nature. The UN predicts two-thirds of the world's population will be living in cities by 2050. As people come to terms with the dramatic increase in urbanized areas and the corresponding loss of wildlife, there is a growing focus on how to improve urban biodiversity. While the move towards urbanization cannot be reversed, many cities are finding ways to improve the quality of city life and actively bring wildlife back into cities. These are seven stand-out examples of how cities are learning to nurture plants and wildlife [weforum.org]

» November 22 2017 - #UK #EnergyPolicy § #Sandys #Hardy #Green Report, ReShaping Regulation. Powering from the future paints a picture of the long-term destination of the #EnergySystem and proposes a new set of regulatory principles focused around the consumers, data, markets and system security [...] consumers will not need specific energy regulation to protect them as energy will be an almost invisible product bundled in with other home services from Alexa, electric car providers and Local Authorities. Consumers will however need much stronger consumer protection around their personal data and across these bundled service [challenging-ideas.com]

» November 21 2017 - #Geopolitics § Center on Global #EnergyPolicy #ColumbiaUEnergy Report, Can #Coal Make a Comeback? Changes in the global coal market have played a far greater role in the collapse of the US coal industry than is generally understood. A slow-down in Chinese coal demand, especially for metallurgical coal, depressed coal prices around the world and reduced the market for US exports. More than half of the decline in US coal company revenue between 2011 and 2015 was due to international factors [...] If natural gas prices remain at or near current levels or renewable costs fall more quickly than expected, US coal consumption will continue its decline despite Trump's aggressive rollback of Obama-era regulations [...] Under the best case scenario for US coal producers, our modeling projects a modest recovery to 2013 levels of just under 1 billion tons a year. Under the worst case scenario, output falls to 600 million tons a year. A plausible range of US coal mining employment in these scenarios ranges from 70,000 to 90,000 in 2020, and 64,000 to 94,000 in 2025 and 2030 -- lower than anything the US experienced before 2015 [energypolicy.columbia.edu]

» November 21 2017 - #Geopolitics #COP23 § #UNFCCC, Global Alliance to Phase Out Coal. The United Kingdom and Canada are leading a new global coal alliance aimed at accelerating clean growth and achieving the rapid phase-out of traditional coal power. More than 20 countries, including France, Finland, and Mexico, are part of the "Powering Past Coal Alliance" which also brings together a wide range of businesses and civil society organizations that have united for climate protection. According to the International Energy Agency, Coal-fired power plants produce almost 40% of global electricity, making carbon pollution from coal a leading contributor to climate change. Air pollution from the burning of coal causes severe respiratory diseases and has many other damaging health effects, in addition to being a key driver of climate change. The member countries of the alliance, launched during the UN Climate Change Conference in Bonn, have agreed to phase out existing traditional coal power and place a moratorium on any new traditional coal power stations without operational carbon capture and storage. Businesses and other non-government partners have in turn made commitments to focus on powering their operations without coal [gov.uk]

» November 20 2017 - #ClimateRisk #Finance #InstitutionalInvestors § #DB Report, MEASURING PHYSICAL CLIMATE RISK IN EQUITY PORTFOLIOS. Deutsche Asset Management and Four Twenty Seven partner to publish a white paper that scores corporates on exposure to catastrophic climate [...] This white paper provides some of the tools that investors need to more accurately monitor and address the physical effects of climate change on investment portfolios. The objective is to satisfy institutional investors' growing desire for more climate resilient portfolios given the increasing frequency and intensity of natural disasters. To deliver this, Deutsche Asset Management has partnered with Four Twenty Seven, the market leading climate intelligence advisory firm based in California as well as Trucost, a specialist on climate transition risk [de.download.dws.com]

» November 20 2017 - #Oil #Geopolitics #SovereignWealthFund #Finance § #Bloomberg, #BigOil is under pressure, unloved and on sale. Energy giants from #Exxon Mobil Corp. to Royal Dutch #Shell Plc are struggling back to their feet after a three-year oil slump, while also fighting to prove they can survive for decades to come amid an accelerating shift to clean energy. So getting dumped by the world's biggest investment fund wouldn't be welcome news. Norway's $1 trillion sovereign wealth fund said on Thursday that it wants to sell about $35 billion of shares in oil and gas companies to make the nation "less vulnerable" to a drop in crude prices. Global energy giants favored by long-term investors including Italy's #Eni SpA, #PetroChina Ltd. and Russia's #Gazprom PJSC account for more than $20 billion of that total [bloomberg.com]

» November 17 2017 - #FFS #WTO #Geopolitics § #ClimateStrategies Report, Tackling Fossil Fuel Subsidies through International Trade Agreements [...] Given its central role in disciplining trade-distorting subsidies across sectors, its previous efforts to reduce environmentally harmful fisheries subsidies, and its mandate to ensure economic progress with sustainable development, the World Trade Organization (WTO) is an obvious candidate for advancing fossil fuel subsidy reform (FFSR) internationally. However, the Organization's engagement on this topic has been limited. In fact, while a growing body of disputes on renewable energy support measures have been brought before the WTO, Members have yet to initiate legal proceedings against subsidies for oil, coal or gas [/climatestrategies.org]

» November 17 2017 - #CleanEnergy #StockMarket #Finance § #Bloomberg, Clean-energy stocks are gaining, despite political headwinds. The WilderHill New Energy Global Innovation Index, or NEX, which tracks about 100 stocks worldwide in areas such as renewable energy and electric vehicles, returned 27% in the 12 months after President Trump was elected. The index fell 2.8% the day after the election as Trump promised to support coal and opposed efforts to cut emissions [bloomberg.com]

» November 17 2017 - #EnergyPolicy #Geopolitics § #CrystolEnergy #NaKhle, The #UAE is undertaking huge efforts to switch its own #Energy Supply away from #Oil and #Gas and towards a cleaner mix of #Renewables, #Nuclear and #CleanCoal [...] The UAE was the first country in the Middle East to ratify the Paris climate change agreement - it pledged to increase the share of clean energy to a staggering 24 per cent of its total energy mix by 2021, from a tiny share of less than 0.1 per cent today. In its Energy Plan 2050, announced in January 2017, the UAE also committed to generate 50% of its electricity from clean energy (including nuclear) by 2050. Some 44 per cent is due to come from solar energy and six per cent from nuclear plants. The remaining 50 per cent will come from gas (38 per cent) and clean coal (12 per cent). Today, 100 per cent of its electricity is generated using gas. It is argued that such a mix will allow the UAE to reduce carbon emissions by 70 per cent. An impressively long list of green initiatives distinguishes the UAE from its Arab peers, boosting its international stance as a modern, environmentally conscious state [crystolenergy.com]

» November 16 2017 - #EnergySecurity #EnergyEquity #EnvironmentalSustainability #Geopolitics § #WEC, World Energy Trilemma Index 2017: Monitoring the Sustainability of #NationalEnergySystems. The 2017 Energy Trilemma Index reveals signs of progress on all dimensions of the Energy Trilemma. Eight of the 125 countries assessed achieved a triple-A score, down from 13 in last year's index. Efforts to increase resource productivity and manage energy demand growth will be key in ensuring a balanced Energy Trilemma. Among the countries included in the Index, access to electricity and clean cooking have both increased by 7% to 87% and 75%, respectively since 2000. A more diversified and low-carbon energy mix will help to improve energy security and environmental sustainability, but its positive effects may be stifled by rising final energy consumption, which is predicted to increase by up to 46% by 2060 [worldenergy.org]

» November 16 2017 - #Energy #Decarbonisation § #WEC, World Energy Trilemma 2017: Changing Dynamics - Using Distributed Energy Resources to Meet the Trilemma Challenge. The report identifies key focus areas for regulators and policymakers in the context of balancing the Energy Trilemma and driving forward progress on each dimension of the energy trilemma. The electricity sector is undergoing change at an unprecedented pace with the growth in distributed generation enhancing trends in decentralisation and decarbonisation, opening new opportunities and challenges for countries to balance the energy trilemma. The report highlights key findings emerging from interviews with energy leaders: Distributed energy resources are becoming increasingly important to the energy system; Changes in electricity supply structure is expected to shift from a centralised to a hybrid model between 2017 - 2025; More than 50% of energy leaders surveyed for the report expect a rapid increase in the share of installed generation capacity in their country to 15% or higher by 2025; Innovative market entrants such as energy service aggregators, rural entrepreneurs and consumers are driving forces behind the increase in distributed energy resources; Energy storage is becoming a key element of the grid of tomorrow [worldenergy.org]

» November 15 2017 - #Geopolitics #Iraq #Kurdistan § #CSIS, Making #Oil the Foundations of a Political Settlement in #Kirkuk [...] Underlying the rival claims to control between Baghdad and the Kurdistan Regional Government (KRG) in Erbil-and between the main Kurdish parties themselves-is a desire to exploit the massive oil resources that lie beneath its surface. The KRG knows that its dreams of independence rest on the fiscal reality of securing revenue from production in the Kirkuk area; without it, Erbil does not have the money to run a government independently. For Baghdad, the 300 thousand barrels per day (mb/d) plus of oil output is an important fillip for its own budget, and while Abadi has repeatedly offered Erbil a revenue-sharing deal, he has insisted on controlling its sales, thereby giving the federal government important fiscal leverage over the KRG [csis.org]

» November 15 2017 - #Energy #Geopolitics § #IEA, WorldEnergyOutlook 2017. #Renewables step up, #Coal strikes out. The US #Shale revolution turns to exports, The era of #Oil is not yet over. When China changes, everything changes [iea.org]

» November 15 2017 - #Energy #Geopolitics § #TheEconomist, The #Energy summit 2017. The age of abundance - November 28th 2017 - London. Big topics: Several technological revolutions are taking place simultaneously in energy markets, which promise a future of abundance, rather than scarcity. The first is shale. This year the ability of independent American oil producers to keep fracking despite relatively adverse conditions has foiled OPEC's ability to rescue prices. The second is renewable electricity. Prices of wind and solar power have continued to fall this year, especially in developing countries, and investment in renewables continues to outstrip that of traditional sources of power generation, such as coal and gas. Thirdly, batteries are emerging as potential disruptors in both oil and power markets. Partly thanks to lower battery costs, France and Britain believe it is feasible to phase out cars powered exclusively by petrol and diesel by 2040. In this new era, big energy companies that have built their businesses around overcoming scarcity are having to adapt fast. National oil companies face even greater upheaval and electric utilities, too, are changing their business models to prepare for a future of cheap power. The transition also has important ramifications for geopolitics. America has once again become a powerful player in the oil markets and its LNG exports are changing the dynamics of global gas markets. OPEC's big hope for survival is that a shortage of investment in big oil projects will cause prices to skyrocket again in the next few years. Meanwhile, its future is uncertain [events.economist.com]

» November 15 2017 - #Renewable #SolarEnergy #NuclearEnergy § #WEF, This could be the world's largest source of energy by 2015. New data from GTM Research suggests that rapid adoption of solar power could mean that its global gigawatt capacity rivals that of nuclear power by the end of 2017. While nuclear currently far exceeds solar in terms of energy generation, some predict solar could be the world's largest source of energy by 2050 [weforum.org]

» November 15 2017 - #GlobalFinance #ClimateFinance § #HSBC Pledges $100 Billion Through 2025 To Combat #ClimateChange. Global financial services company HSBC has announced that it will provide $100 billion in sustainable financing and investment by 2025 in an effort to combat climate change and support sustainable growth in its local communities. This is by no means HSBC's first foray into combating climate change, nor will it likely be the last. In November of 2015 the financial services company pledged to commit $1 billion to a green bond portfolio - a sector it has helped lead over the last decade. Not long afterwards, HSBC Holdings raised €500 million in its first green bond [cleantechnica.com]

» November 14 2017 - #CO2Emissions § Earth System Science Data (#ESSD), Global #CarbonBudget 2017, For 2017, preliminary data indicate a renewed growth in emissions from fossil fuels and industry of +2.0 % (range of 0.8% to 3.0%) based on national emissions projections for China, USA, and India, and projections of Gross Domestic Product corrected for recent changes in the carbon intensity of the economy for the rest of the world. For 2017, initial data indicate an increase in atmospheric CO2 concentration of around 5.3 GtC (2.5 ppm), attributed to a combination of increasing emissions and receding El Nino conditions [earth-syst-sci-data-discuss.net]

» November 14 2017 - #Oil #Energy #Economics § #Opec, #MOMR (Monthly Oil Market Report), World oil demand growth for 2017 now stands at 1.53 mb/d to average 96.94 mb/d. For 2018, global #OilDemand growth is expected at around 1.51 mb/d, revised up by 0.13 mb/d from the previous month's expectations reflecting the improved expectations from OECD Europe, OECD Asia Pacific, China, India and some African countries. Total oil demand is projected to average 98.45 mb/d in 2018 [opec.org]

» November 14 2017 - #ClimateChange #EnhancedTransparencyFramework § #CIGI paper, Satellites, Remote Sensing and Big Data: Legal Implications for Measuring Emissions. Central to implementing the Paris Agreement on climate change is the need to build mutual trust and confidence to promote effective implementation of the agreement. To that end, an "enhanced transparency framework" for action and support is established under article 13. This paper poses two important questions: how is transparency enhanced by emerging monitoring technology and measurement techniques; and, are proposed new satellite-enabled approaches to monitoring greenhouse gas (GHG) emissions consistent with article 13 of the Paris Agreement, considering that remote sensing of territories and possible sharing of the data, without permission of the state being observed, could be seen as intrusive and contrary to national sovereignty [cigionline.org]

» November 14 2017 - #Oil #Energy #Economics #US § #Bloomberg, #China Energy Investment Corp. plans to invest $83.7 billion in #ShaleGas development and chemical manufacturing projects in the state (West Virginia) over two decades, according to a statement from the state's Department of Commerce. The memorandum of understanding marks the first step in a series of commitments the company expects to make in West Virginia. These include power generation, chemical manufacturing and underground storage of natural gas liquids derivatives. The size of the proposed investment is larger than the state's gross domestic product last year of $73.4 billion [bloomberg.com]

» November 14 2017 - #ClimatePolicy #AviationEmissions § #ColumbiaLawSchool #SabinCenter Publication, Transparency And ICAO's Offsetting Scheme: Two Separate Concepts?. The International Civil Aviation Organisation (ICAO), the UN specialised body for aviation, is developing a scheme to reduce the climate impact of aviation emissions, the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). From 2021, participating countries will (voluntarily at first) offset any growth in CO2 aviation emissions above the level those emissions have reached in 2020. This paper does not consider the climate implications of the scheme but rather focuses on whether the governance structure under which the scheme is being developed – especially its transparency and opportunities for public participation – meets an appropriate standard, given the importance of the scheme being developed (aviation emissions are a growing cause of climate change). If the public cannot access information on why and how the final agreement was reached, nor present information relevant to that agreement, the scheme risks being seen as illegitimate [columbiaclimatelaw.com]

» November 14 2017 - #Oil #Energy #Economics § #OilPrice, #OPEC revises up expectations of #US shale supply (World Oil Outlook). OPEC sees U.S. shale output ballooning from 5.1 million barrels per day (mb/d) this year to 7.5 mb/d by 2021. That is an upward revision of more than 50 percent - last year OPEC predicted U.S. shale output would erode under the weight of low oil prices, dipping to just 4.8 mb/d by 2021. In other words, OPEC has essentially acknowledged that it won't be able to kill off U.S. shale by flooding the market [oilprice.com]

» November 14 2017 - #SDGs #NDCs § #IFC report, Creating Markets for #ClimateBusiness. Developing countries can meet climate targets promised in the landmark Paris Agreement by catalyzing trillions of dollars in private investments through a combination of smart policy reforms and innovative business models [...] Creating Markets for Climate Business identifies seven industry sectors that can make a crucial difference in catalyzing private investment: renewable energy, off-grid solar and energy storage, agribusiness, green buildings, urban transportation, water, and urban waste management. Already, more than $1 trillion in investments are flowing into climate-related projects in these areas. But trillions more can be triggered by creating the right business conditions in emerging markets [ifc.org]

» November 14 2017 - #ClimateChange #WTO #TRadeRestrictions #PoliticalRisks § #CIGI report, There is a looming collision between the rules frameworks of the two separate international institutions that have been created and entrusted with addressing trade and climate change. Links between trade and climate change can no longer be ignored by either the World Trade Organization (WTO) or the Conference of the Parties (COP) of the United Nations Framework Convention on Climate Change. Neither has considered the consequences of the trade restrictions that are likely to be part of many national measures enacted to address climate change, which will fall within the scope of the WTO Agreement and will surely lead to a lengthy WTO dispute settlement process [...] To minimize the political risks of such a collision to both the WTO and the COP, and to combine the most benefit for the climate with the least risk to trade, a WTO climate waiver is urgently needed [cigionline.org]

» November 13 2017 - #ClimateRisk #Economics § #KPMG report, Survey of #CorporateResponsibilityReporting 2017. Three quarters of #Companies worldwide yet to acknowledge #ClimateChange as a #FinancialRisk. Almost three quarters (72 percent) of large and mid-cap companies worldwide do not acknowledge the financial risks of climate change in their annual financial reports [...] Of the minority that do acknowledge climate-related risk, less than one in 20 (4 percent) provides investors with analysis of the potential business value at risk. KPMG's survey studied annual financial reports and corporate responsibility reports from the top 100 companies by revenue in each of 49 countries: a total of 4,900 companies. It found only five countries in the world where a majority of the top 100 companies mention climate-related financial risks in their financial reports: Taiwan (88 percent), France (76 percent), South Africa (61 percent), US (53 percent) and Canada (52 percent). In most cases, disclosure of climate-related risk is either mandated or encouraged in these countries by the government, stock exchange or financial regulator. In terms of industries, companies in the Forestry & Paper (44 percent), Chemicals (43 percent), Mining (40 percent) and Oil & Gas sectors (39 percent) have the highest rates of acknowledging climate-related risk in their reporting. They are closely followed by the Automotive (38 percent) and Utilities (38 percent) sectors. Healthcare (14 percent), Transport & Leisure (20 percent) and Retail (23 percent) are the sectors least likely to acknowledge climate risk [kpmg.com]

» November 13 2017 - #SDGs #NDCs § #WWF #RSPB report, Risky Business. The overseas #Footprint created by #UK imports of seven forest-risk commodities: beef & leather, cocoa, palm oil, pulp & paper, rubber, soy, and timber. Using data on the volume and source of UK imports between 2011 and 2015, we find that the land area required to supply the annual UK demand for these seven commodities alone equates to more than half the size of the UK: a total of 13.6 million hectares. More than 40% of this overseas land footprint (nearly 6 million hectares) is in countries at high or very high risk of deforestation, weak governance and poor labour standards [wwf.org.uk]

» November 10 2017 - #NaturalGas #Decarbonisation § #Eurogas, Gas demand in the #EU is expected to increase by 5.9% in 2017 year-on-year and reach 488.9 billion cubic metres. This data confirms a steady trend, not only in the weather-dependent heating and cooling sector, but also in power generation and in a new market for gas: transport. Together with renewable gas, natural gas has strong potential to reduce CO2 emissions even further and contribute to long-term decarbonisation [eurogas.org]

» November 10 2017 - #Oil #Geopolitics #MajorsStrategy § #WoodMackenzie-the hedge, Upstream repositioning - from cyclical to secular. The Majors have seized the moment in the downturn to reposition by stealth [...] We'd go as far as to say a secular shift is underway. The initial impetus for upstream repositioning may have been cyclical, a response to the financial squeeze. But it's seguing into a strategy. We are witnessing the early stages of the industry preparing for the long haul - the challenges of the energy transition and the attendant risks of peak oil demand, disruption from renewables and EVs, and perhaps sustained pressure on oil and gas prices. The Majors have used the downturn to their advantage and others need to follow their lead. Asian NOCs, among others, face steep declines in production within a few years. They need to build for the future, and start soon before the window of opportunity closes [woodmac.com]

» November 10 2017 - #Coal #HELE #CCS #NDCs § #WCA at #COP23, Many countries have identified high efficiency low emissions (#HELE) technologies as part of their Nationally Determined Contributions (#NDCs) as part of the Paris Agreement. The top 20 big meat an diary corporations emit more #GHGs than Germany. Methodology for Calculating the Emissions [...] China is a remarkable example of the role that affordable coal can play in improving access to energy and supporting economic development. Over the last three decades, according to the World Bank, China has achieved universal access to electricity - 600 million people have been lifted out of poverty and connected to the electricity grid. The link between access to affordable power from coal, economic growth and prosperity is clear. China is also working towards having the world's cleanest coal power system by 2020 by utilising advanced cleaner coal technologies. Another example is India which has made significant deployments of solar power but continues to rely on coal for baseload electricity. The 24 countries that have included HELE in their agreements don't want to sacrifice economic development or their climate obligations. They want to achieve both. Energy security and climate objectives are competing, but integrated priorities. WCA will also be supporting greater action on CCS as well as policy parity with other low emission technologies. The Intergovernmental Panel on Climate Change (IPCC) has made it clear that it is almost impossible, and far more expensive, to reach the below 2 degrees target without significantly scaling up CCS technologies worldwide [worldcoal.org]

» November 9 2017 - #ClimateFootprint § #IATP #GRAIN #BOLL inst, The top 20 #BigMeat an #Diary corporations emit more Greenhouse gases (#GHGs) than Exxon, Shell or BP. The top 20 big meat an diary corporations emit more #GHGs than Germany. Methodology for Calculating the Emissions [iatp.org]

» November 9 2017 - #Oil #Mexico § #Pemex discovered an #Oilfield with an original volume of over 1,500 million barrels of oil equivalent (boe), which could represent total reserves of approximately 350 million boe. This volume is similar to the findings reported by private companies a few months ago at the Zama-1 well [pemex.com]

» November 9 2017 - #GHG #ClimatePolicy § #NewClimateInst #PBL #IIASA Report, Greenhouse gas #Mitigation #Scenarios for major emitting countries - 2017. About two thirds of the 25 major emitting countries not on track to achieve targets set in NDCs. The degree to which the 25 major emitting countries are likely to achieve their NDC targets under current policies was found to vary. Of those considered in this report, Brazil, China, Colombia (new), India, Japan (new), Mexico (new), the Russian Federation, Turkey, and the Ukraine are likely or roughly on track to achieve or even overachieve their self-determined unconditional 2025/2030 targets with currently implemented policies. Countries that require additional measures to achieve their 2025/2030 targets are: Argentina, Australia, Canada, Chile (new), Democratic Republic of the Congo (DRC), Ethiopia, the EU, Indonesia, Kazakhstan, Morocco, Republic of Korea, Saudi Arabia, South Africa, Thailand, the Philippines and the United States. Colombia is now assessed as achieving its INDC, because recent emissions, in particular from forestry, were lower than assumed in the business-as-usual (BAU) projections. Mexico is now assessed as achieving its NDC with currently implemented measures, mainly because of the historical emission data update and updated and lower baseline projections. Chile is now assessed as requiring additional measures to achieve its 2030 targets, mainly because of the change in the baseline projections used for the assessment [lbl.gov]

» November 8 2017 - #CleanMobilityPackage § #EnergyUnion: Commission takes action to reinforce #EU's global leadership in #CleanVehicles. The Commission proposes new targets for the EU fleet wide average CO2 emissions of new passenger cars and vans to help accelerate the transition to low- and zero emission vehicles. The CO2 emission reduction targets the Commission proposes today are based on sound analysis and broad stakeholder involvement, from NGOs to industry. Both for new cars and vans, the average CO2 emissions will have to be 30% lower in 2030, compared to 2021. The Clean Mobility Package includes the following documents: New CO2 standards to help manufacturers to embrace innovation and supply low-emission vehicles to the market. The proposal also includes targets both for 2025 and 2030. The 2025 intermediary target ensures that investments kick-start already now. The 2030 target gives stability and long-term direction to keep up these investments. These targets help pushing the transition from conventional combustion-engine vehicles to clean ones. The Clean Vehicles Directive to promote clean mobility solutions in public procurement tenders and thereby provide a solid boost to the demand and to the further deployment of clean mobility solutions. An action plan and investment solutions for the trans-European deployment of alternative fuels infrastructure. The aim is to increase the level of ambition of national plans, to increase investment, and improve consumer acceptance. The revision of the Combined Transport Directive, which promotes the combined use of different modes for freight transport (e.g. lorries and trains), will make it easier for companies to claim incentives and therefore stimulate the combined use of trucks and trains, barges or ships for the transport of goods. The Directive on Passenger Coach Services, to stimulate the development of bus connections over long distances across Europe and offer alternative options to the use of private cars, will contribute to further reducing transport emissions and road congestion. This will offer additional, better quality and more affordable mobility options, particularly for people on low income. The battery initiative has strategic importance to the EU's integrated industrial policy so that the vehicles and other mobility solutions of tomorrow and their components will be invented and produced in the EU [ec.europa.eu]

» November 8 2017 - #ElectricityMarket #EnergyPolicy § #BerkeleyLAb Report, Value-Added #ElectricityServices: New Roles for Utilities and Third-Party Providers. New energy generation, storage, delivery, and end-use technologies support a broad range of value-added electricity services for retail electricity customers. Sophisticated energy management services, distributed generation coupled with storage, and electric vehicle charging are just a few examples of emerging offerings. Who should provide value-added services - utilities or third parties, or both, and under what conditions? What policy and regulatory changes may be needed to promote competition and innovation, to account for utility costs to enable these services, and to protect consumers? [lbl.gov]

» November 8 2017 - #Oil #Geopolitics § #EnergyPost, #US #ShaleOil: the limits to growth. With technological progress slowing down and financiers becoming more reluctant to invest, estimates of future US shale oil production are becoming more conservative [...] By the early 2020s, the ability of US shale oil to provide a ceiling on oil prices will be significantly diminished [energypost.eu]

» November 8 2017 - #Oil #Geopolitics § #OPEC, #WorldOilOutlook 2017. An in-depth review and analysis of the global oil industry, #WOO2017 offers a thorough assessment of various sensitivity cases related to the economy, and supply and demand trends in the medium- and long-term. For the third year in a row, a comprehensive interactive version of the WOO will also be made available [opec.org]

» November 8 2017 - #Geopolitics #India § The last #Coal power plant in #India can be closed by 2050. With an aim to connect 40 million households to the grid by 2018, India is investing heavily in coal mines. But our analysis shows India is chasing a dream far removed from reality [...] the coal-based power plants operated at a plant load factor (PLF) of 60 per cent-this means they operated at just 60 per cent of their capacity. The PLF of coal power sector is not likely to improve if we compare electricity demand over the next 10 years and the capacity of existing power plants as well as those under construction and in the pipeline, especially solar and wind plants. [downtoearth.org.in]

» November 7 2017 - #Geopolitics #Russia #China § The Power of Siberia #Gas trunkline will transport gas from the Irkutsk and Yakutia gas production centers to consumers in Russia's Far East and China (eastern route). Length: around 3,000 kilometers. Diameter: 1,420 millimeters. Working pressure: 9.8 MPa. Export capacity: 38 billion cubic meters per year. The gas pipeline will traverse three Russian constituent entities, namely the Irkutsk and Amur Regions and the Republic of Sakha (Yakutia) [...] Construction in the Chinese territory started in April 2017. In May 2017, a temporary two-way checkpoint was opened on the Russian-Chinese border to provide unfettered access to the border area for construction equipment and personnel [gazprom.com]

» November 6 2017 - #NDCs #ClimatePolicy § #OECD § Accounting for #MitigationTargets in Nationally Determined Contributions under the #ParisAgreement [...] The diversity of approaches used by Parties to express mitigation targets in their Nationally Determined Contributions (NDCs) under the Paris Agreement presents challenges in understanding, comparing and aggregating Party efforts. Accounting is needed to allow Parties to track individual progress towards their own mitigation-related NDC targets, understand others' NDC targets and their progress toward them, and assess collective progress towards the long-term mitigation goal. It is distinct from, but complementary to, the Paris Agreement's enhanced transparency provisions, which relate to the gathering, sharing and review of information [oecd.org]

» November 6 2017 - #Geopolitics #Economy § #US #CrudeOil exports hit all-time high as production also closes in on record. U.S. weekly crude oil exports hit an all-time high at 2.13 million barrels a day. American oil output was at 9.55 million barrels a day, near a high going back to July 2015. Oil prices have been rallying on expectations OPEC will extend production cuts, potentially keeping open the window of opportunity for U.S. crude oil exports [cnbc.com]

» November 6 2017 - #ClimateChange #ClimatePolicy § #efi § #ClimateWatch, the new online platform designed to empower policymakers, researchers, media and other stakeholders with the climate data, visualizations and resources they need to gather insights on national and global progress on climate change [climatewatchdata.org]

» November 6 2017 - #ClimateFinance #ClimatePolicy § #OECD § Enhancing #Mitigation and #Finance reporting. This paper explores the issues of “building on” and 'enhancing' as they relate to the biennial reporting of information on mitigation and finance, by drawing lessons from the existing MRV system and examining the Paris Agreement’s provisions. The paper examines four areas: greenhouse gas (GHG) inventories, reporting on progress with nationally determined contributions (NDCs) under Article 4, finance provided and mobilised, and financial support received and needed. The paper also highlights the challenges met to date by Parties while reporting information for these areas, and underlines how forthcoming modalities, procedures and guidelines (MPGs) might reduce these difficulties [oecd.org]

» November 6 2017 - #CircularEconomy § #efi § Leading the way to a European circular bioeconomy strategy. The year 2016 was a turning point: the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs) were adopted, and the Paris Agreement on climate change came into effect. These sent out a global political message of the need to transform our economic system to end poverty, protect the planet, and ensure wellbeing for all. The critical question now is how to reach the ambitious targets they set. A necessary part of the answer will be the move to a circular bioeconomy to increase the use of renewable non-fossil raw materials and products in sustainable, resource-efficient way [efi.int]

» November 5 2017 - #US #ClimatePolicy § #Fourth National Climate Assessment (#NCA4), Volume I § #ClimateScience Special Report. This report is an authoritative assessment of the science of climate change, with a focus on the United States. It represents the first of two volumes of the Fourth National Climate Assessment, mandated by the Global Change Research Act of 1990. Executive Summary. The climate of the United States is strongly connected to the changing global climate. The statements below highlight past, current, and projected climate changes for the United States and the globe. Global annually averaged surface air temperature has increased by about 1.8°F (1.0°C) over the last 115 years (1901–2016). This period is now the warmest in the history of modern civilization. The last few years have also seen record-breaking, climate-related weather extremes, and the last three years have been the warmest years on record for the globe. These trends are expected to continue over climate timescales. This assessment concludes, based on extensive evidence, that it is extremely likely that human activities, especially emissions of greenhouse gases, are the dominant cause of the observed warming since the mid-20th century. For the warming over the last century, there is no convincing alternative explanation supported by the extent of the observational evidence. In addition to warming, many other aspects of global climate are changing, primarily in response to human activities. Thousands of studies conducted by researchers around the world have documented changes in surface, atmospheric, and oceanic temperatures; melting glaciers; diminishing snow cover; shrinking sea ice; rising sea levels; ocean acidification; and increasing atmospheric water vapor. [...] Changes in the characteristics of extreme events are particularly important for human safety, infrastructure, agriculture, water quality and quantity, and natural ecosystems [iscience2017.globalchange.gov]

» November 3 2017 - #Geopolitics #NaturalGas § #IEA: Global Gas Security Review 2017. Natural gas markets are changing at a rapid pace, moving from regional integration to a more globalised and interdependent market. This transformation is creating new security-related concerns, which remain alive despite the current state of oversupply in the gas market [...] To improve the risk assessment of importing countries, the report introduces a new typology of LNG buyers as a tool to measure market exposure, and related security of supply issues per type of buyer, as well as provides a measure of future LNG market evolution [iea.org]

» November 3 2017 - #Geopolitics #NaturalGas § Industry #Lobbying behind the #EU push for new gas infrastructure. The Great Gas Lock-in. The gas industry spent more than €100m in 2016 on lobbying, while public interest groups working against an expansion of gas infrastructure spent barely three per cent of that amount. As a result the EU has bought the industry spin that gas is a 'clean' fuel to partner renewables [...] In doing so it is breaking its own climate change commitments under the Paris Agreement and locking Europe and its suppliers into 40-50 more years of pipelines and other gas infrastructure [corporateeurope.org]

» November 2 2017 - #SustainableEconomy § Towards a #LowCarbonFuture with Lord Nicholas Stern. Lord Stern of Brentford, Professor Nicholas Stern, Chairman of the Grantham Research Institute on Climate Change and the Environment.This talk is the public key-note lecture for the Resource Conference 2017 - Strategic Materials for a #LowCarbon Future: From Resource Scarcity to Availability. A Conference by the Veolia Institute and the Oxford Martin School [Oxford University podcasts]

» November 2 2017 - #SustainableEconomy #FinancialSystem § #FinanceWatch #GABV #M2020 Building blocks for a #SustainableFinance future for #Europe. The proposals set out in this paper make the argument for specific tangible changes that financial institutions, financial regulators and policy makers can implement to deliver sustainable finance. They are clustered together in themes, each with their own briefing notes and recommendations to serve as building blocks in a renewed financial system. The themes are, in broad terms, realigning finance with society's needs; recalibrating regulatory instruments; making the financial ecosystem more diverse and collaborative; helping individual citizens to invest in a sustainable economy; encouraging financial firms to develop sustainable business models; and creating the disclosures needed to manage the sustainability of the financial system. Collectively, these themes and recommendations reflect the thinking of some of the pioneering practitioners and leading thinkers on sustainable finance who contributed to this report - with a particular emphasis on the role of sustainable banking as a major driving force in a sustainable economy [finance-watch.org]

» November 2 2017 - #Oil § #EnergyPost § US #ShaleOil: the limits to growth. With technological progress slowing down and financiers becoming more reluctant to invest, estimates of future US shale oil production are becoming more conservative [...] By the early 2020s, the ability of US shale oil to provide a ceiling on oil prices will be significantly diminished [...] Many analysts expect US shale to continue to limit oil price volatility - at least in the short term. The question is how long it can keep this up. US shale is not a swing producer like Saudi Arabia that, with a spare capacity of about 2 mb/d that it can access within weeks simply by opening up the taps. Over the coming years we will be carrying out an experiment: how long can US shale production continue to grow at a rate of about 0.5-1.0 million barrels per day (mbpd) every year (depending on oil prices)? [energypost.eu]

» November 2 2017 - #Oil § #WoodMac § US #TightOil's second phase of growth is well underway. We expect tight oil production to double from 4.7 million b/d today to around 9.5 million b/d in the mid-2020s - and our view is by no means the most bullish. Most of the growth we foresee is from the Wolfcamp play in the Permian Basin, the focus of much of the increase in Lower 48 drilling over the last eighteen months. The Permian's huge in-place resource has been known about for decades, identified by thousands of vertical wells. What's been harder to figure out is how much can be extracted commercially at lower oil prices [woodmac.com]

» November 2 2017 - #LowCarbonTransition #Finance § Rapid growth of the #GreenBond and SocialBond markets in #Asia attracts market attention. The last 2 years have seen a sharp increase in activity in green and social bond markets in Asia and across the world. Green bond issuance in Asia saw a tenfold increase in 2016 to approximately $28 billion, driven especially by issuance in China. More recently, green, social and sustainability bond issuance has accelerated in Japan, with issuance of $2.4bn in October, more than in 2015 and 2016 combined. Japan is among the pioneers in Asia. A Japanese issuer, JICA, was among the first to apply the Social Bond Guidance issued by ICMA in 2016. Issuance has picked up following the launch of official green bond guidelines by the Japanese Ministry of Environment in May this year. Prominent Asian investors including leading Japanese names have also announced plans to invest in green bonds. Such dynamics have supported development of an ecosystem of green and social bond expertise in the region [icmagroup.org]

» November 2 2017 - #Globalization § #NewClimateEconomy Report § Financing the #UrbanTransition for #SustainableDevelopment: Better #Finance for Better #Cities. The world is experiencing rapid urbanisation. Urban areas now accommodate over half of the global population, but generate approximately 82% of global GDP. Over the next 15 years, the urban population will increase by over 1 billion, reaching 60% of the total global population.5 The share of global economic output attributable to cities is expected to reach 88% well before 2030 and the 750 largest cities are likely to account for up to 60% of global GDP growth between 2012 and 2030. This means that cities are at the centre of economic activity, affecting how economies grow, how resources are allocated, and how innovation takes place. At the same time, cities and urban infrastructure are also key energy consumers and emitters of greenhouse gases (GHG). Around 70% of global energy consumption and over 70% of GHG emissions are associated with urban areas [newclimateeconomy.report]

» November 1 2017 - #Globalization § #WEF Report § #Migration and Its Impact on #Cities. The report provides a deep dive on migration and cities, exploring the types, causes and patterns of migration, the most affected corridors and cities, the impact on urban infrastructure and services, the solutions that can be employed and how cities can seek to future proof themselves to address this growing challenge. The report captures the mitigation stories from 22 of the most affected cities around the world, including from North America (Montreal, Ottawa, Calgary, New York and Boston), Latin America (Sao Paulo and Medellin), Middle East and North Africa (Dubai, Amman, Ramallah), Sub Saharan Africa (Cape Town and Dakar), Asia (Pune, Surat, Guangzhou and Davao City), Europe (Berlin, Athens, Paris, Amsterdam and Rotterdam) and Oceania (Auckland). The report also presents a high level framework to achieve long term migrant integration and in delivering urban infrastructure and services efficiently and effectively to meet the needs of migrants [weforum.org]

» November 1 2017 - #CCS #ClimateChange #LowCarbonEconomy § #ETC Group #HeinrichBollFoundation § The interactive world map of #Geoengineering experiments. An attempt to shed light on the worldwide state of geoengineering by showing the scope of research and experimentation. There is no complete record of weather and climate control projects so this map is necessarily partial. It builds on an earlier map of Earth Systems Experimentation published in 2012. That original map documented almost 300 projects and experiments related to the field of geoengineering. Five years later over 800 such projects can be identified. These include projects in Carbon Capture, Solar Radiation Management, Weather Modification and other approaches [geoengineeringmonitor.org]

» November 1 2017 - #WaterPolicy #ClimateChange #PopulationGrowth § #WB Report § Uncharted Waters: The New Economics of #WaterScarcity and Variability. The 21st century will witness the collision of two powerful forces - burgeoning population growth, together with a changing climate. With population growth, water scarcity will proliferate to new areas across the globe. And with climate change, rainfall will become more fickle, with longer and deeper periods of droughts and deluges. This report presents new evidence to advance understanding on how rainfall shocks coupled with water scarcity, impacts farms, firms, and families. On farms, the largest consumers of water in the world, impacts are channeled from declining yields to changing landscapes. In cities, water extremes especially when combined with unreliable infrastructure can stall firm production, sales, and revenue. At the center of this are families, who feel the impacts of this uncertainty on their incomes, jobs, and long-term health and welfare. Although a rainfall shock may be fleeting, its consequences can become permanent and shape the destiny of those who experience it. Pursuing business as usual will lead many countries down a "parched path" where droughts shape destinies. Avoiding this misery in slow motion will call for fundamental changes to water policy around the globe. Building resilience to rainfall variability will require using different policy instruments to address the multifaceted nature of water. A key message of this report is that water has multiple economic attributes, each of which entail distinct policy responses. If water is not managed more prudently-from source, to tap, and back to source-the crises observed today will become the catastrophes of tomorrow [worldbank.org]

» November 1 2017 - #Brent #WTI #Opec § The #Oil market could be entering a new phase. Brent topped $60 per barrel for the first time in nearly two and a half years. The strong assurances from OPEC and Russian officials has the market assuming that the upcoming OPEC meeting in November will result in an extension of the production cuts, perhaps through the end of 2018 [oilprice.com]

» October 31 2017 - #ClimateChange #ClimatePolicy #LowCarbonEconomy § #Queen Mary University Paper § The #Climate# Energy #Trade Nexus in #EU External Relations. An analysis on the links of climate change, energy, and international trade, specifically from the perspective of the EU's external relations. The chapter first analyzes the links between these three sectors (climate change, energy, and trade). It then examines the environmental language in EU free-trade agreements. Finally, and before the conclusions, it looks at obstacles that explain the lack of coordination between environmental and trade agreements [ssrn.com]

» October 31 2017 - #ClimatePolicy #LowCarbonEconomy § #COP21RIPPLES Report § Key Concepts, Core Challenges and Governance Functions of International #ClimateGovernance. Taking a sectoral perspective, the report identifies the key governance challenges that exist internationally towards the deep transformations required, and specifies the resulting key governance functions to be fulfilled by means of international cooperation/international institutions. To this end, the report first clarifies a number of key concepts, including international (climate) governance, international and transnational institutions, institutional complexes and poly-centricity. It then derives a number of functions that international institutions can fulfil from the relevant literature: providing guidance and signals, setting rules, providing transparency and accountability, providing capacity building, technology and finance, and facilitating knowledge and learning. This is the basis for an investigation into the key governance challenges and the potential of international governance in 14 key sectoral systems. The sectoral approach enables a sectorally differentiated and detailed analysis of the varying demand for international institutions' performance of governance functions. The analysis reveals that the demand for the performance of most governance functions varies significantly among the sectoral systems in accordance with their specific conditions and circumstances. Different sectoral systems and different parts of sectoral systems create varying demands for international governance [cop21ripples.eu]

» October 30 2017 - #ClimateChange #CO2 #GHG § #WMO § Greenhouse gas concentrations surge to new record. Concentrations of carbon dioxide in the atmosphere surged at a record-breaking speed in 2016 to the highest level in 800 000 years, according to the World Meteorological Organization's Greenhouse Gas Bulletin. The abrupt changes in the atmosphere witnessed in the past 70 years are without precedent. Globally averaged concentrations of CO2 reached 403.3 parts per million in 2016, up from 400.00 ppm in 2015 because of a combination of human activities and a strong El Nino event. Concentrations of CO2 are now 145% of pre-industrial (before 1750) levels [wmo.int]

» October 30 2017 - #ClimateChange #SustainableEconomy #Water § Carbon Disclosure Project (#CDP) § The annual A List names the world's businesses leading on environmental performance. This year, we recognize 160 corporates as the pioneers acting on climate change, water security and deforestation, and building our new sustainable economy that works for both people and planet [cdp.net]

» October 30 2017 - #Oil #CarbonRisk #GlobalOilSupply #IOCs #NOCs § Wood Mackenzie Report § Positioning for the future: Benchmarking upstream corporate #CarbonEmissions and value at risk. An apples-to-apples basis for comparing companies' carbon emissions from their upstream assets and the associated risk to valuations for more robust decision-making. The full study consists of three elements: Corporate portfolio and strategy assessment - Reports on 25 international oil and gas companies showing how each company's upstream emissions profile is likely to evolve over the next 10 years (2016-2025), the potential 'value at risk' under different carbon costs and tax treatments and how they compare with their peers. Upstream oil and gas carbon risk index - A proprietary index by Verisk Maplecroft, assesses the likelihood and rigour of climate regulation in different jurisdictions. Upstream carbon emissions tool - An interactive model forecasts upstream asset emissions by geography, company or resource theme, and measures intensity on a field-by-field basis. This comprehensive tool also allows companies to view policy risk by country, and to calculate value at risk under different carbon price and fiscal treatment scenarios [woodmac.com]

» October 30 2017 - #ClimatePolicy § The #Oil and Gas #ClimateInitiative (#OGCI) § CATALYST FOR CHANGE. Collaborating to realize the energy transition. The pathway to a low emissions future will vary across different geographic regions, depending on available sources of energy, economic growth and land use patterns, government policies and affordability. Achieving it requires an unprecedented transformation of our economies in which all sectors will need to reduce their emissions substantially. For many industries, including [Oil and Gas], this will entail a broader change in strategy and business models. It requires bold action, innovative partnerships and a keen eye for the opportunities this transformation brings - not just the risks [oilandgasclimateinitiative.com]

» October 27 2017 - #NaturalGas #Geopolitics § #spglobal § Can The #US Shut Off #Russia's #GasSupply To #Europe? The "Countering America's Adversaries Through Sanctions Act" became public law on Aug. 2, 2017. According to this statute, the U.S. president, in coordination with U.S. allies, may impose sanctions with respect to investments in Russia, or supplies for maintenance, expansion, and construction of energy export pipelines from Russia [...] Russia is one of Europe's main sources of natural gas, and its gas exports to Europe have been quite reliable since the cold war days, with only a few short-term interruptions related to renegotiation of transit terms through Ukraine. Ukraine remains a key gas transit corridor, funneling 44% of Russia's gas exports in 2016, down from about 80% a decade ago. The Ukraine transit route faces ongoing operational risks, political controversies, and litigation. We therefore believe an important objective for new pipelines from Russia would be to avoid crossing Ukraine. We consider that Gazprom is strongly interested in continuing gas supplies to Europe, since Europe and Turkey are its main source of earnings [spglobal.com]

» October 27 2017 - #Water § #Citi Report § SOLUTIONS FOR A GLOBAL WATER CRISIS, The End of 'Free and Cheap' Water. Over the years there have been many academic studies, government policies, non-governmental organizations (NGO) reports, industrial plans, and others all focusing on ways to improve the management of water and reduce inefficient water use over time - and yet we are still faced with the problem of a looming global water crisis. So why haven't we solved this problem? The main reason is that we are terrible at managing this resource [citi.com]

» October 26 2017 - #ClimatePolicy #LowCarbonEconomy § #Wuppertal Inst. #JIKO Policy Brief § Steps Towards #CarbonNeutrality - An Overview of Strategies and the Role of Offsetting. The paper portrays the commitments of #CostaRica, #Norway, #Sweden, as well as the City of #Melbourne in Australia and #Microsoft. All cases have set themselves ambitious neutrality goals and have implemented measures to achieve them. However, none of the cases will be able to achieve climate neutrality on their own, at least not in the short run. Remaining emissions will be compensated using carbon credits either from domestic offset schemes (Costa Rica) or from international schemes, thus potentially providing a significant source of demand for international carbon credits [carbon-mechanisms.de]

» October 25 2017 - #ClimateResilience #SmartCities § #MoTM 2017 § The Next Era of #MarketFinance for #Resilience. Where will cities find the funding stream to support inventive resilience related projects that strengthen the capacity of governments, communities, institutions and businesses to survive, adapt, and grow in the face of increased climate-driven shocks and stresses? Funding Mechanisms for Resilience Financing [urban.meetingoftheminds.org]

» October 25 2017 - #Oil #Gas #Offshore § The #US Bureau of Safety and Environmental Enforcement (#BSEE) is on a mission to unlock a new wave of heavy investment for oil and gas production in the U.S. Gulf of Mexico, via renewed collaboration with offshore oil companies and refocused regulation. The bureau is actively revisiting rules that were introduced during the #Obama administration, and is in the midst of meeting with Gulf Coast companies to understand how BSEE can ensure safety and environmentally-sustainable offshore E&P operations, without unnecessarily burdensome regulation [worldoil.com]

» October 25 2017 - #EconomicGrowth #EnergyPolicy § #i4ce Report § Reforming #FossilFuelSubsides: countries seeing a new way of ensuring a #LowCarbonFuture [...] Several G20 countries have made significant steps forward in reforming their policies on fossil fuel subsidies in recent years (Bast et al. 2015). Indonesia has been successful in rolling back fossil fuel consumption subsidies totalling USD 15 billion as well as a portion of their production subsidies. Mexico rolled back its consumption subsidies in 2016, although some production subsidies remain. Germany, in its attempt to reform fossil fuel subsidies, has committed to eliminate all public funding for hard coal domestically by 2018 [i4ce.org]

» October 25 2017 - #EconomicGrowth #ParisAgreement § #WorldBank Study § Accelerating #GreenEnergy #Innovation in #China. China's 13th 5-Year Plan refers to innovation as the "first driver of growth." Greening this growth will be critical for China to realize carbon emission reduction targets linked to the Paris Climate Agreement. Green energy innovations hold great potential to realize these interconnected goals. How China can begin to push the technology frontier - particularly in the solar, wind and energy storage sectors. The study offers the most in-depth analysis to date of innovation dynamics in these three sub-sectors. Some of the insights include how Chinese policymakers can better support early-stage innovation; optimize the structure of domestic VC markets; strengthen the business climate for innovation; improve market design so renewable energy can compete; and better connect Chinese firms with global innovation networks. It complements these insights with a wide range of case studies. These case studies include Chinese companies (e.g. Goldwind, BYD) and foreign ones (e.g. First Solar, Siemens) selected to illuminate how Chinese firms currently approach innovation and what learnings can be applied from foreign competitors [worldbank.org]

» October 25 2017 - #EnergyPolicy #NaturalGas § #Bp § Top 20 producers and consumers in 2016. While the US retained its position as both number one natural gas producer and consumer in 2016, its production fell (down 2.5%) for the first time since the shale gas revolution started in earnest in the mid-2000s, caused by falls in gas (and oil) prices. Outside the US, on the demand side, gas consumption in Europe rose strongly (up 6%), helped by both the increasing competitiveness of gas relative to coal and weakness in European nuclear and renewable energy. The Middle East and China both also recorded strong increases in consumption, aided by improving infrastructure and availability of gas. The largest falls were in Russia (down 3.2%) and Brazil (down 12.5% and not appearing in the top 20), both of which benefited from strong increases in hydropower. On the supply side, Australian production was the standout performer (up by 25.2%) as several new liquefied natural gas (LNG) facilities came onstream [bp.com]

» October 25 2017 - #EnergyPolicy #SaudiArabia #Neom #Geopolitics § #Qz § Saudi Crown Prince Mohammed bin Salman unveiled a $500 billion plan to create a new mega city-state linking Jordan and Egypt. The 26,500 square km (10,230 square mile) swath of land, dubbed Neom, will embody everything that the prince hopes for the kingdom's future cities. The plan is to create a hub of cutting-edge research and technology in industries like energy and water, biotechnology, food, and advanced manufacturing [qz.com]

» October 24 2017 - #ClimatePolicy § Deutsche Gesellschaft fur Internationale Zusammenarbeit (#GIZ) #GmbH Study § The Role of the #NAP Process in Translating NDC Adaptation Goals into Action: Linking NAP processes and #NDCs. The study investigates benefits, opportunities and challenges of using the NAP process for the implementation of NDC adaptation goals. Moreover, it addresses how the NAP process can inform future iterations of the NDCs. Based on this analysis, options for implementing and developing NDC adaptation goals through the NAP process are provided. A practical tool illustrates these options with guiding questions for countries that are considering how to proceed with linking implementation and development of NDC adaptation goals with the NAP process [adaptationcommunity.net]

» October 20 2017 - #NaturalGas #EU § #ENTSOG (the European Network of Transmission System Operators for Gas) Report § Winter Supply Outlook 2017/2018. The main findings are: The national production continues to follow a decreasing trend; UK Rough storage announced in June 2017 its closure; the peak demand has been revised upwards in many countries following the January 2017 cold spell; storage starting level on 1st October (84%) is close to its five year minimum and hence to the starting level defined for the ENTSOG Union Wide Simulation under revised SoS Regulation; in case of Cold Winter, the LNG utilization would need to be significantly higher than observed over the last five years, otherwise the storage level at the end of the season could fall to a historical low level; shippers continuing to fill storages by 1st November could secure higher flexibility; nevertheless the European gas system offers sufficient flexibility across the season in Europe, provided gas is available; the European gas system is also capable of supplying Energy Community Contracting Parties and other EU neighbouring countries with significant volumes of gas; limited capacity between Bosnia and Serbia could expose Bosnia to demand curtailment during the peak demand day [entsog.eu]

» October 20 2017 - #LowCarbonEconomy #EconomicGrowth #ClimateChange #Hydrogen #Methanation § #Store&Go Report § Exploring the future for #GreenGases, Innovative large-scale #EnergyStorage technologies and power-to-gas concepts after optimisation. The European Union consumes annually about 400 to 450 bcm natural gas, if completely burned corresponding with an annual CO2 emission ranging between some 710 and 800 MtCO2e. The EU reference scenario assumes that by 2030 the overall gas consumption will not be much different, albeit that by then the current (2016) import share of natural gas of 72% will have increased to about 79%. The target of the EU is to reduce its greenhouse gas (GHG) emissions by 80 - 95% below 1990 levels by 2050. This means that natural gas can no longer be used by that date, unless the CO2 linked with the burning of natural gas can be stored underground or otherwise compensated by additional mitigation [storeandgo.info]

» October 20 2017 - #Energy #Development #SDGs #EconomicGrowth #ClimateChange § #IEA Report § The #EnergyAccess Outlook, Edition: 2017, 144 pages. This report: Expands and updates the WEO's country-by-country electricity and clean cooking access database, and assesses the status for all developing countries, reviewing recent trends and policy efforts up to 2016. Presents a global and regional electricity and clean cooking access outlook to 2030, with a dedicated chapter on sub-Saharan Africa. Provides a pathway for achieving access to modern energy for all by 2030, identifying policy priorities, detailing investment needs, and the role that decentralised and on-grid solutions may play. Analyses how energy development can unleash economic growth in sectors such as agriculture, and explores how energy access intersects with other issues such as gender, health and climate change [iea.org]

» October 19 2017 - #Oil #GlobalOilSupply #Geopolitics § #WoodMacKenzie Analisys § The rise and fall of black gold. OECD demand will revert back to structural decline by 2020, wiping out more than 3million b/d by 2035. Non-OECD demand is expected to grow by nearly 16million b/d by 2035: Peak oil demand: just around the corner? The market used to worry about peak oil supply. Now the focus has shifted to peak oil demand as the industry witnesses a structural decline in demand from the developed world, and questions the appetite of the emerging world to grow at the insatiable rates experienced over the past fifteen years. Specifically, the pace of technological change - in transport and energy storage, among other things - is fuelling the debate [woodmac.com]

» October 19 2017 - #EnergyTransition § #IRENA Report § #ElectricityStorage and #Renewables: Costs and markets to 2030. Battery electricity storage is a key technology in the world's transition to a sustainable energy system. Battery systems can support a wide range of services needed for the transition, from providing frequency response, reserve capacity, black-start capability and other grid services, to storing power in electric vehicles, upgrading mini-grids and supporting "self-consumption" of rooftop solar power. In the longer-term, batteries could support very high levels of variable renewable electricity, specifically by storing surplus energy and releasing it later, when the sun is not shining or the wind not blowing strongly enough. While pumped-hydro systems still dominate electricity storage (with 96% of installed storage capacity in mid-2017), battery systems for stationary applications have started growing rapidly. Wider deployment and the commercialisation of new battery storage technologies has led to rapid cost reductions, notably for lithium-ion batteries, but also for high-temperature sodium-sulphur ("NAS") and so-called "flow" batteries. In Germany, for example, small-scale household Li-ion battery costs have fallen by over 60% since late 2014. Steadily improving economic viability has, in turn, opened up new applications for battery storage [irena.org]

» October 18 2017 - #CarbonMarket #lowCarbonEconomy § #I4CE pubblication § Landscape of #CarbonPrices in 2017. 5 key trends for 2017: (Too) Few jurisdictions have implemented an explicit carbon price; The adoption of carbon pricing policies is accelerating ; Carbon revenues, which have decreased in 2016, remain an important financing tool for both the environment and the economy; Carbon prices are perceived as too low for the economic sphere; Explicit carbon prices in 2017 are not aligned with the costs of necessary climate action in order to stay on the 2°C trajectory [i4ce.org]

» October 18 2017 - #EnergyPolicy § #NITI (National Institution for Transforming India) § #India, is #Coal forever? The large planned new coal based thermal capacity is likely to put pressure on coal resources. Coal based power generation capacity of 125 GW in 2012 is likely to go up to more than 330-441 GW by 2040 (192 GW in FY 2017). The demand for these plants is likely to be first met by domestic coal, which will require quick exploitation of our reserves. As per assessment, at high rates of coal demand, domestic coal supplies may plateau by the year 2035. All the above call for fuller coal resource assessment, optimum mining, efficient use, and appropriate reckoning of the role of coal in our energy mix (Draft National Energy Policy) [niti.gov.in]

» October 18 2017 - #SustainableIndustry #Masdar #UAE #MoCCE § #WFES § #Financing #Future #Innovation. #ClimateInnovation Exchange, #CLIX, an unique marketplace connecting on a global level entrepreneurs and investors to enable partnerships that will power sustainable climate change solutions through knowledge, innovation, and funding [...] CLIX picks entrepreneurs based on their application merits and also in consideration of shortlisting a fair split across regions and between the three pillars of CLIX mentioned above; Air Pollution, Clean Mobility and Innovation in Agriculture. Entrepreneurs coming from the academia and not-for-profit sectors are also welcome to apply. An assessment formula is in place to assess the entrepreneur for "eligibility" prior to the selection and potential investment commitment [...] deadline extended till Thursday October 26 at 12:00pm PST [worldfutureenergysummit.com]

» October 17 2017 - #Energy #Development #SDGs § #IEA report § The #EnergyAccess Outlook, to be released in Rome on 19 October, explores the close links between energy and development, assessing today's global picture for access to modern energy, the strategies and technologies that can enable countries to achieve energy for all by 2030, and the ways in which reliable energy can move communities to meet the UN Sustainable Development Goals [iea.org]

» October 16 2017 - #CarbonMarket #GHG #EmissionsReduction § #I4Ce report § #EU #ETS: last call before the doors close on the negotiations for the EU ETS reform. The EU ETS will not be the driver of decarbonisation of the EU economy until 2030 [...] The report looks into greenhouse gases (GHG) emissions reductions, the cost of necessary abatements, the functioning of the Market Stability Reserve (MSR) and the framework of free allocation to industries. Furthermore, the report analyses the impacts of an exit of the UK from the EU ETS, as well as the possible introduction of a price corridor on the EU ETS. The report demonstrates that: EU Parliament and EU Council's reform proposals to strengthen the EU ETS fail to make it a driver of decarbonisation in energy and industry sectors over its Phase IV (2021-2030). The EU ETS trajectory is aligned on the low end of long-term EU climate ambition. Furthermore, long-term EU climate objectives and the EU ETS trajectory should now be updated to integrate the objectives of the Paris Agreement. However, the EU ETS still requires a drastic decrease in GHG emissions in the long term. In that context, an EU-wide price corridor on the EU ETS could be one solution to the lack of anticipation of ETS operators and would lead to earlier mitigation efforts in ETS sectors [i4ce.org]

» October 16 2017 - #NaturalGas #Geopolitcs § #SouthernGasCorridor, the project running right through the heart of #Turkey that will bring new supplies of gas to the country in 2018 - and to European markets in 2020. Seven countries, 11 companies, as many gas sales agreements, more than $40 billion of investment and upwards of 30,000 people employed during its busiest phase of activity: the Southern Gas Corridor is one of the global oil and gas industry's most significant - and ambitious - undertakings yet [bp.com]

» October 16 2017 - #Oil #Geopolitcs § A few weeks ahead of the next #OPEC meeting, #SaudiArabia and #Russia have strengthened their relationship with a high level summit, and a series of investment agreements accompanied by statements suggesting that the current oil output cuts might be tightened. Of course, we must wait and see what happens. But there is little doubt that leading producers have re-committed to do whatever it takes to underpin the market and to support the long process of re-balancing. The backdrop to these high-level manoeuvers is the recent volatility we have seen in the Brent crude market, with prices coming close to the symbolic level of $60/bbl before retreating to $57/bbl. Uncertainty with some suppliers (Libya, Venezuela, Iran and northern Iraq) and signs of possibly slower than expected growth in US shale production, coupled with strong oil demand, provided upward momentum to the market. Producers looking for higher prices were on the verge of declaring victory [iea.org]

» October 13 2017 - #Energy #GlobalEconomy § #Oil and #Gas to supply nearly half of global primary energy in 2050. #DNV GL forecasts world energy demand will plateau from 2030 - Oil and gas will supply 44% of global primary energy in 2050 - Gas will be the largest single source of energy from 2034 - significant investment needed across the oil and gas value chain- Oil and gas will remain crucial components of the world's energy future as global energy demand flattens over the coming decades for the first time since at least the industrial revolution. DNV GL's inaugural Energy Transition Outlook (#ETO), an independent forecast of the future energy landscape, predicts that oil and gas will still account for 44% of world primary energy supply in 2050, compared with 53% today. The company's model predicts energy demand and supply for 10 world regions and energy transport between them. It forecasts demand for hydrocarbons to peak over the next two decades, with gas becoming the single largest energy source from 2034 [dnvgl.com]

» October 13 2017 - #GlobalWarming #California § #Nationalgeographic § #Wildfires: how they form, and why they're so dangerous. Four out of five wildfires are started by people, but dry weather, drought, and strong winds can create a recipe for the perfect disaster-which can transform a spark into a weeks- or months-long blaze that consumes tens of thousands of acres. Another possible cause of forest fires is lightning. Scientists have found that every degree of global warming sets off a 12 percent bump in lightning activity. Since 1975 the number of fires ignited by lightning has increased between two and five percent [...] Forest fires actually have the ability to heat up the entire planet, a NASA study from 2016 revealed. In ecosystems such as boreal forests, which store more carbon than any other terrestrial ecosystem on the planet, the effects of climate change are playing out twice as fast [nationalgeographic.com]

» October 11 2017 - #Oil #Opec #Geopolitics § #Bloomberg Report § Waiting for 173rd Opec meeting (November 30), #Iraq and #Iran boosted crude exports in September, taking advantage of a slower pace of shipments from rival #SaudiArabia to win buyers in key markets like China and the U.S. Iraq shipped 3.98 million barrels of crude a day, the highest since December, while Iran's exports rose to 2.28 million barrels a day, the most since February, according to ship-tracking data compiled by Bloomberg. Saudi Arabia's exports were 6.68 million barrels a day, the second-lowest for this year, the data show [bloomberg.com]

» October 9 2017 - #ClimatePolicy #CleanEnergyFuture #EnergyGovernance § #IEA Report § #EnergyEfficiency 2017. More than ever before, energy efficiency is central to the achievement of a range of policy goals, including energy security, economic growth and environmental sustainability. Strong efficiency gains, despite the recent fall in energy prices, have had a significant impact on global energy demand, reducing consumers' energy bills, holding back emissions growth and making energy systems more secure. However, global progress has become dependent on yesterday's policies, with the implementation of new policies slowing. If the world is to transition to a clean energy future, a pipeline of new efficiency policies needs to be coming into force. Instead, the current low rate of implementation risks a backward step [iea.org]

» October 6 2017 - #ClimatePolicy #Geopolitics #EnergyGovernance § #CARISMA § #EU climate leadership after Paris: rising to the challenge? The European Union has often been described as a leader of climate change action, and convincing arguments can be found to support this leadership claim. However, recent economic, political and institutional developments such as the decision of the UK to leave the bloc or the rise of populist parties throughout Europe have put pressure on the EU itself and pose some significant challenges to its climate leadership role, particularly since current EU policies are unlikely to meet its commitment under the Paris Agreement to limit global warming to 2 degrees. At the same time, with US president Donald Trump turning his back on multilateral climate action, EU climate leadership is more necessary than ever. This discussion paper shows how the EU has led on climate change issues in the past, and analyses the current challenges EU climate and energy policies face. It also presents suggestions for improving internal climate and energy governance, and describes how the EU could reclaim its international leadership role by strengthening existing partnerships with non-EU countries and capitalising on its extensive governance experience and climate know-how. [carisma-project.eu]

» October 5 2017 - #ClimatePolicy #Geopolitics § #OekoInstitut #SEI #INFRAS #UBA Report § Robust Accounting of International Transfers under #Article6 of the #ParisAgreement. This discussion paper explores key issues and options to ensure robust accounting of international transfers from market mechanisms under Article 6 of the Paris Agreement. It provides an overview of key issues that must be addressed to ensure robust account and highlights approaches to address them. The further analysis focuses on two aspects: the nature and scope of "internationally transferred mitigation outcomes" under Article 6.2 and how double claiming of emission reductions could be avoided through "corresponding adjustments". The publication has now been expanded to include the topic of how the vintage of mitigation outcomes and the timing frames of mitigation targets can be accounted for. In addition, issues of tracking and documenting international transfers are analysed [dehst.de]

» October 4 2017 - #Economy #Geopolitics § #WEC Report § The #GlobalCompetitiveness Index 2017-2018 Rankings. Covering 137 economies, the Global Competitiveness Index 2017-2018 measures national competitiveness-defined as the set of institutions, policies and factors that determine the level of productivity [...] These are the world's 10 most competitive economies: 1 Switzerland 2 United States 3 Singapore 4 Netherlands 5 Germany 6 Hong Kong SAR 7 Sweden 8 United Kingdom 9 Japan 10 Finland [www3.weforum.org]

» October 4 2017 - #EnergyPolicy #NaturalGas #Geopolitics § #Azernews § #TurkishStream, 1.5 billion cubic meters of natural gas annually.Russian-Turkish joint energy project - Turkish Stream pipeline - is gaining a clearer outline as Ankara has approved the final version of Environmental Impact Assessment (EIA). Turkey's Ministry of Environment and Urbanization has approved the EIA for the offshore section of the TurkStream Offshore Gas Pipeline. The draft EIA was prepared by ELC Group Inc. on behalf of South Stream Transport B.V., the project owner, and published on June 21. The document was later reviewed by Review and Evaluation Commission (REC), consisting of 23 relevant institutions and authorities. The REC members submitted their opinions on the draft EIA in writing. The EIA has been amended in line with these opinions. All REC members have now provided a positive opinion on the EIA to the Turkish Ministry of Environment and Urbanization. The EIA consists of information on the potential environmental and social impacts of the offshore section of the TurkStream project. It also includes recommendations for the mitigation of the potential adverse impacts and enhancement of the beneficial ones. The Turkish Stream envisages the construction of a gas pipeline along the seabed of the Black Sea to Turkey's European part and further on to the border with Greece [azernews.az]

» October 4 2017 - #FossilFuelSubsidies #EnergyPolicy #ClimatePolicy #CO2Emissions § #OilChangeInternational Report § Dirty Energy Dominance: Dependent on Denial - How the U.S. Fossil Fuel Industry Depends on Subsidies and #ClimateDenial. While the majority of Americans want stronger U.S. action on climate change, policies at the state and federal level continue to underwrite the ongoing exploration and production of fossil fuels [...] Key findings include: Fossil fuel subsidies have been defended by a Congress influenced by $350 million in campaign contributions and lobbying expenditures by the fossil fuel industry - which equates to a 8,200% return on investment. The cost of annual federal fossil fuel production subsidies is equivalent to the projected 2018 budget cuts from Trump's proposals to slash 10 public programs and services that benefit some of the nation's most vulnerable children and families. Government giveaways in the form of permanent tax breaks to the fossil fuel industry - one of which is over a century old – are seven times larger than those to the renewable energy sector [priceofoil.org]

» October 3 2017 - #ClimatePolicy #CO2Emissions § #fcrn Report § Grazed and Confused? In-depth report on the topic of #GrazingLivestock and #ClimateChange [...] this report adds clarity to the debate around livestock farming and meat and dairy consumption. Grazed and Confused? dissects claims made by different stakeholders in the debate about so called 'grass.fed' beef, the greenhouse gases the animals emit, and the possibility that, through their grazing actions, they can help remove carbon dioxide from the atmosphere. It evaluates these claims and counterclaims against the best available science, providing an authoritative and evidence-based answer to the question [fcrn.org.uk]

» October 3 2017 - #EnergyPolicy #ClimatePolicy § Report § Phase-out 2020: Monitoring #Europe's #FossilFuelSubsidies. This analysis, carried out by the Overseas Development Institute (#ODI), Climate Action Network (#CAN) Europe, and Green Budget Germany (#GBG) monitors the different types of subsidies provided to fossil fuel production and consumption by 11 European governments and the EU every year (in between 2014 and 2016). The goal of this work is to raise awareness of the significant levels of subsidies still going to fossil fuels, despite the multiple pledges by the EU and European governments to comply with the Paris Agreement and phase out harmful subsidies by 2020 [odi.org]

» October 2 2017 - #EnergyPolicy #NaturalGas § #Snam Report § Global Gas Report 2017. Natural gas has long been expected to show significant growth, both in absolute terms and in terms of its share within the global energy mix. Since around 2010, there has been a widespread view that the world was entering a "golden age of gas". Anyway, the strong growth trajectory underpinning these forecasts has to date not been realized and gas consumption growth has been well below forecasts. The situation is now evolving. At a global level, progress has been made on a number of key drivers for gas consumption growth in terms of improving market liquidity and supply security, higher cost competitiveness - and evolving perceptions of its long-term sustainability. This progress is confirmed by specific gas industry developments in 2016. There are therefore reasons to believe that a high growth trajectory of gas may still be achieved. Nevertheless some critical barriers remain to achieving the expected gas growth. The report aims to identify key trends in the gas market today, how these speak to the future prospects of gas, and what it will take for the growth forecasts for gas to be achieved going forwards [snam.it]

» October 2 2017 - #Energy #Geopolitics § #EIA Report § Beyond #China and #India, #EnergyConsumption in non-OECD Asia continues to grow [...] Based on projections in EIA's International Energy Outlook 2017 (#IEO2017), much of the future growth in world energy consumption will occur in the nations of Asia outside of the Organization for Economic Cooperation and Development (or non-OECD Asia). Although China and India account for most of the region's energy consumption, EIA projects broad growth in other Southeast Asian nations, including Indonesia, Thailand, and Malaysia. These other non-OECD Asian nations are relatively small consumers of energy individually, but collectively they accounted for 7% of world primary energy consumption in 2015. IEO2017 projects that by 2040, the nations of non-OECD Asia excluding China and India will account for nearly 10% of the world's primary energy consumption [eia.gov]

» October 2 2017 - #LowCarbonEconomy #SustainableDevelopment § #SSE Report § The world's largest companies are under-reporting sustainability policies and performance, hampering investors' access to data that will allow them to play a full role in the transition to a low-carbon economy [...] The study, Measuring Sustainability Disclosure: Ranking the World's Stock Exchanges 2017, finds that of 6,441 large companies analysed, 78% disclosed payroll followed by greenhouse gases (43%) energy (40%), water (38%), waste (29%), injuries (24%) and employee turnover (15%). Over the past five years, corporate disclosure rates for GHGs, energy and waste and injuries have flat-lined while water and employee disclosure both improved at an annualized clip of 10%. First commissioned by Aviva Plc in 2012 as part of the Sustainable Stock Exchange Initiative, the report tracks corporate disclosure on seven sustainability indicator [corporateknights.com]

» September 30 2017 - #Oil #Geopolitics #Iran #US #Russia § #RCEM § #SaudiArabia's #OilPrice Dilemma: Between a Rock & a Hard Place. When crude oil prices started to decline steeply in July 2014, Saudi Arabia responded by flooding the global oil market with oil in defence of its market share, trying to damage Iran's economy and slowing down if not killing US shale oil production. But this strategy failed miserably and inflicted huge damage on the Saudi economy and the economies of all oil-producing countries of the world. However, under the stewardship of the new Saudi oil minister, Khalid Al Falih, Saudi Arabia abandoned its discredited oil strategy and spearheaded the agreement between OPEC and non-OPEC oil producers to cut production by 1.8 mbd in support of the oil price. But since the implementation of the production cuts in January 2017, the price has hovered for a while within a range of $51-$57 a barrel occasionally declining to $45 a barrel. Now Saudi Arabia is in a dilemma over the oil price. It could not go back to its failed oil strategy of flooding the global oil market. Nor could it manage to persuade other OPEC and non-OPEC oil producers to agree further deeper cuts because they will refuse. Furthermore, Saudi Arabia does not want to end up carrying the burden of further cuts on its own as it loses both income and market share. And to add to its woes, Russia is now saying that the Russian economy is actually ready to live forever with an oil price of $40 or less. This raises the question as to how long will Russia continue to abide by the production cuts' agreement signed with OPEC. And without higher oil prices, the Kingdom faces an imminent financial crisis [rcem.eu]

» September 28 2017 - #Energy #ClimateChange #SustainableDevelopment § The Emirates Diplomatic Academy (#EDA) Insight § Synergies between #GlobalFoodSecurity and #ClimateGoals: Recommendations for Gulf Countries' Foreign Trade, Investments and Aid. This policy brief suggests measures that GCC countries could adopt in their foreign policies, drawing from international best practices and knowledge on the interlinkages between food security and climate change. Agricultural production and climate change are interlinked in important ways, as are the related policy goals of food security, reducing greenhouse gas emissions and adapting to the adverse impacts of climate change. At the international level, two global frameworks guide related development efforts: the UN 2030 Agenda for Sustainable Development and the Paris Agreement on climate change. It is crucial that the Gulf Cooperation Council countries, which largely rely on food produced in other countries, understand the relationships between the global development goals related to food security and climate change, and mainstream this knowledge into their foreign policy [eda.ac.ae]

» September 28 2017 - #LowCarbonEconomy #SustainableDevelopment #InternationalTrade #ClimateChange #SustainableEnergy #CitizensEmpowerment #PublicGoods #CommonConcern #SustainableCompanies § The George Washington International Law Review, Vol. 49, No. 4, pp. 801-877, 2017 § Sustainability, Common Concern and Public Goods. This article analyzes the conceptual links between sustainability, common concern and public goods. It examines the mega-trends of the 21st century in the context of sustainability. By doing so, it brings forward the novel idea of how greater participation of citizens can be very promising in helping achieve the Sustainable Development Goals. The article also examines incentives for regional and global cooperation on decarbonizing the economy. It does so by proposing the novel idea of using mega-regional trade agreements (RTAs) to mitigate climate change and enhance sustainable energy. It proposes the argument that only a few major greenhouse gas emitters and just three mega-RTAs can make a great contribution towards climate change mitigation and the enhancement of sustainable energy. The article then explores sustainability in the context of innovation, research, technology and spirituality. The article concludes with the expression that there is a knowledge gap on the links between four major global concerns: trade, energy, climate change, and sustainability. With the threat of climate change looming, and energy increasingly important to all aspects of human and economic development, learning more about these links is extremely timely [papers.ssrn.com]

» September 26 2017 - #Geopolitics § #Bloomberg § Where #Oil and #OPEC Go From Here. Bassam Fattouh, director of the Oxford Institute for Energy Studies, while U.S. shale poses a threat to OPEC, the idea that the organization has no role in the oil market is unrealistic. There is no doubt that the context within which OPEC is operating has dramatically changed. Within OPEC, the output from some producers such as Nigeria and Libya has become more uncertain. The re-entry of Iraq with its massive reserve base, low production cost and ambitious plans to increase its productive capacity, and Iran's plans to increase productive capacity after the lifting of sanctions, will complicate the management of OPEC output. Outside OPEC, U.S. shale and its short-term investment cycle is creating additional challenges for OPEC. But, this does not mean that OPEC has no role in this context. The idea that U.S. shale can do it all at any cost -- at least at $50 a barrel -- is over exaggerated and even at current prices, their business model remain challenged with overall free cash flow in the sector remaining negative [bloomberg.com]

» September 26 2017 - #Oil #OPEC #Geopolitics § #Platts § An extension to the current 1.8 million b/d output deal that ends in March 2018 [...] OPEC and non-OPEC have made moves to track crude oil exports side-by-side with production, and are looking to bring about an extension to the current 1.8 million b/d output deal that ends in March 2018 and involve outliers Nigeria and Libya to the arrangement [platts.com]

» September 25 2017 - #LowCarbonTransition #GreenLending § #I4ce Report § Using credit lines to foster green lending: opportunities and challenges. This scoping study aims at identifying the opportunities and the challenges related to the deployment of credit lines to support the low-carbon climate-resilient transition in developing countries. The report demonstrates that credit lines, and more generally financial intermediation instruments, can be useful tools in addressing some of the supply- and demand-side barriers to green lending [i4ce.org]

» September 25 2017 - #ClimatePolicy #Geopolitics § #NewClimate Report § States, cities and businesses leading the way: a first look at decentralized climate commitments in the #US. This report provides the first steps in helping to quantify the contribution of states, cities and business to reduce US greenhouse gas emissions. As more and more commitments emerge, further analysis will be undertaken within the Initiative for Climate Action Transparency (ICAT), where this work originated. The analysis shows that because of their leadership and size, large states such as #NewYork, #California and #Colorado are making the largest contribution to projected greenhouse gas reductions. In fact, US states alone deliver more than two thirds of the total estimated emissions reductions. However, cities are more ambitious (average of 22% GHG reduction between 2015 and 2025) and crucial for the implementation of specific actions. Businesses currently have the steepest targets, aiming for a 25% reduction in the next ten years [newclimate.org]

» September 22 2017 - #EnergyPolicy #Geopolitics § #Cell Press #Joule Article § 100% Clean and #Renewable #Wind, #Water, and #Sunlight All Sector #EnergyRoadmaps for 139 Countries of the World [...] We develop roadmaps to transform the all-purpose energy infrastructures (electricity, transportation, heating/cooling, industry, agriculture/forestry/fishing) of 139 countries to ones powered by wind, water, and sunlight (WWS). The roadmaps envision 80% conversion by 2030 and 100% by 2050. WWS not only replaces business-as-usual (BAU) power, but also reduces it [cell.com]

» September 22 2017 - #Oil #Futures #WTI § #Bloomberg § For the first time in years, #Backwardation? one of those big words used by traders, begins to replace #Contango [...] After prices collapsed in 2014, West Texas Intermediate gradually started selling at a discount to its longer-dated futures. That's what contango means. This occurs when buyers are willing to pay more for future deliveries as a way to limit their storage costs. Meanwhile, those who have the ability to store crude gain an advantage by buying it cheaply, then selling it for later delivery at a profit [bloomberg.com]

» September 22 2017 - #ClimateChange #UNFCCC #Inequality #ClimateJustice § #GlobalEnvironmentalChange Article § #ClimateChange and the transition to #NeoliberaEnvironmentalGovernance. What are the guiding principles of contemporary international governance of climate change and to what extent do they represent neoliberal forms? We document five main political and institutional shifts within the UN Framework Convention on Climate Change (UNFCCC) and outline core governance practices for each phase. In discussing the current phase since the Paris Agreement, we offer to the emerging literature on international neoliberal environmental governance an analytical framework by which the extent of international neoliberal governance can be assessed. We conceptualize international neoliberal environmentalism as characterized by four main processes: the prominence of libertarian ideals of justice, in which justice is defined as the rational pursuit of sovereign self-interest between unequal parties; marketization, in which market mechanisms, private sector engagement and purportedly 'objective' considerations are viewed as the most effective and efficient forms of governance; governance by disclosure, in which the primary obstacles to sustainability are understood as 'imperfect information' and onerous regulatory structures that inhibit innovation; and exclusivity, in which multilateral decision-making is shifted from consensus to minilateralism. Against this framework, we argue that the contemporary UNFCCC regime has institutionalized neoliberal reforms in climate governance, although not without resistance, in a configuration which is starkly different than that of earlier eras. We conclude by describing four crucial gaps left by this transition, which include the ability of the regime to drive adequate ambition, and gaps in transparency, equity and representation [sciencedirect.com]

» September 20 2017 - #NaturalGas #EU § #Entsog § Gas Transmission System Operators (TSOs) of the #SouthernCorridor Region, third edition of Gas Regional Investment Plan [...] this report addresses demand and supply forecasts, capacities, nominations and flows, at interconnecting points. It also includes analysis through modelling of the remaining flexibility or supply disruption under various conditions, with additional focus on the flows under several disruption cases combined with infrastructure levels at various points in time [entsog.eu]

» September 20 2017 - #ClimatePolicy § #ClimateChange Journal § Responsible for what? #CarbonProducer CO2 contributions and the #EnergyTransition. Judgments of moral responsibility should be informed by both scientific analysis and societal standards. Society distinguishes responsibilities into positive and negative, general and special, and backward-looking and forward-looking. Ekwurzel et al. in Clim Chang 2017 shows that 90 major carbon producers have contributed most of the atmospheric CO2 emissions. Once it became clear no later than the 1960s that continuing CO2 emissions would progressively undermine the climate, the major carbon producers could see that they were marketing harmful products. The simple and merely negative responsibility to "do no harm" required them to reduce that harm rapidly either by modifying the product in order to capture its dangerous emissions or by developing safe substitutes to perform the same function, that is, by developing non-carbon-based forms of energy. The seriousness of the harms brought by climate change made this responsibility especially compelling. Ceasing to contribute to harm includes ending exploration for additional fossil fuels. The half century of failure by corporate carbon producers to reduce the harms caused by their products now gives them additional responsibility to correct the damage done by their decades of neglect of the underlying negative responsibility. If major carbon producers also wish to fulfill the general responsibility to make more than a minimal positive social contribution, their distinctive capacities of political power, wealth, and expertise qualify them for leadership in the transition to an energy regime that would be safe for future generations to rely on [springer.com]

» September 19 2017 - #Renewables #EnergyEfficiency #FossilFuels #Coal #NuclearPower #CO2Emissions #EnergyPrices § #IEA § Key World #EnergyStatistics 2017. This edition has been enriched with more information on energy efficiency and renewables, more geographic data and also more of the fundamental data required to fully understand energy security. Key World Energy Statistics contains timely, clearly presented data on the supply, transformation and consumption of all major energy sources for the main regions of the world, proving everyone with an interest in energy key statistics on more than 150 countries and regions including energy indicators, energy balances, prices, RDD and CO2 emissions as well as energy forecasts. All of the data in the booklet will also available in app form for all major mobile devices [iea.org]

» September 19 2017 - #ClimateChange #Mitigation #EmissionsReductionRates #ParisAgreement #GlobalWarming § #Nature Geoscience Article § #EmissionBudgets and pathways consistent with limiting warming to 1.5°C. The Paris Agreement has opened debate on whether limiting warming to 1.5°C is compatible with current emission pledges and warming of about 0.9°C from the mid-nineteenth century to the present decade. We show that limiting cumulative post-2015 CO2 emissions to about 200GtC would limit post-2015 warming to less than 0.6°C in 66% of Earth system model members of the CMIP5 ensemble with no mitigation of other climate drivers, increasing to 240GtC with ambitious non-CO2 mitigation. We combine a simple climate-carbon-cycle model with estimated ranges for key climate system properties from the IPCC Fifth Assessment Report. Assuming emissions peak and decline to below current levels by 2030, and continue thereafter on a much steeper decline, which would be historically unprecedented but consistent with a standard ambitious mitigation scenario (RCP2.6), results in a likely range of peak warming of 1.2-2.0°C above the mid-nineteenth century. If CO2 emissions are continuously adjusted over time to limit 2100 warming to 1.5°C, with ambitious non-CO2 mitigation, net future cumulative CO2 emissions are unlikely to prove less than 250GtC and unlikely greater than 540GtC. Hence, limiting warming to 1.5°C is not yet a geophysical impossibility, but is likely to require delivery on strengthened pledges for 2030 followed by challengingly deep and rapid mitigation. Strengthening near-term emissions reductions would hedge against a high climate response or subsequent reduction rates proving economically, technically or politically unfeasible [nature.com]

» September 19 2017 - #Energy #LowCarbonEconomy § #Carbontracker Report § No country for #Coal gen - Below 2°C and regulatory risk for US coal power owners. Coal's market share in the US power mix is being diminished at an unprecedented rate due to fierce competition from cheap gas and renewables. Around 30 GW of coal capacity has been retired over the last three years, with coal generation declining by 13% over the same period. The economics of US coal power could not be starker: new coal capacity is not remotely competitive, while in the next few years it will be the exception rather than the rule for the operating cost of existing coal to be lower than the levelized cost of new gas and renewables [carbontracker.org]

» September 15 2017 - #NaturalGas #LGN § #BNEF § Global LNG Outlook 2017. Asia will continue to be the center of gravity of the world's LNG demand, importing over 70% of the fuel until 2030. However, from 2025, China, India and ASEAN (Southeast Asia) together will import more LNG than Japan, Korea and Taiwan combined [...] 1. Global LNG demand growing fast amid low LNG prices. Global LNG consumption will reach 280MMt this year, showing a robust 8.8% growth from 2016. A 3.8% average annual growth until 2020 will push demand to 314MMtpa. 2. Overcapacity until 2024, but shortfall thereafter. As the export capacity surges to 400MMtpa by 2020, overcapacity will peak at 87MMtpa in that year. Very few pre-final investment decision (pre-FID) projects will move ahead before 2020, leading to a tightly balanced market by 2024. 3. Lower volumes and slopes, rising renegotiations in LNG contracts. Only 5.7MMtpa of LNG term contracts were signed in 1H 2017, a record low since 2010. Average slopes are also down to ˆ13%. Buyers continued to push for renegotiations of old contracts with higher prices and no destination flexibility. 4. LNG prices under pressure from contracted resalable LNG until mid-2020s. In summer 2017, spot LNG was above $5/MMBtu in Asia – a recovery supported by a stronger oil price. Given higher seasonal demand in the winter, spot prices will bounce up in 4Q 2017. Until 2020, spot prices will be kept in check due to an unavoidable oversupply [bnef.com]

» September 14 2017 - #Oil § #Opec Monthly Oil Market Report § World Economy. World economic growth has been revised up for 2017 to 3.5% from 3.4%, while the growth forecast for 2018 remains unchanged at 3.4%. [...] World Oil Demand. World oil demand growth in 2017 is expected to rise by 1.42 mb/d after an upward revision of around 50 tb/d. The adjustment mainly reflects better-than-expected data from OECD region for the 2Q17, particularly OECD Americans and Europe, as well as China. In 2018, world oil demand is anticipated to grow by 1.35 mb/d, an increase of 70 tb/d from the previous report. This reflects higher growth expectations for OECD Europe and China. World Oil Supply. Non-OPEC oil supply is expected to grow by 0.78 mb/d in 2017, unchanged from the last month due to offsetting revisions in Kazakhstan and US supply. In 2018, non-OPEC oil supply is forecast to grow by 1.0 mb/d, following a downward revision to Russia and Kazakhstan, totalling 0.1 mb/d. OPEC NGLs and non-conventional liquids production are seen averaging 6.49 mb/d in 2018, representing an increase of 0.18 mb/d, broadly in line with growth in the current year. In August, OPEC crude oil production decreased by 79 tb/d, according to secondary sources, to average 32.76 mb/d. [opec.org]

» September 14 2017 - #ClimatePolicy #CDM #CORSIA #ParisAgreement #EmissionReductions § #SEI Report § Using the #CleanDevelopmentMechanism for #NationallyDeterminedContributions and international #Aviation. The Clean Development Mechanism is the world's largest greenhouse gas crediting mechanism, issuing 1.8 billion CERs so far. Countries are considering using CERs from emission reductions up to 2020 to achieve post-2020 mitigation targets, under both the Paris Agreement and the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA). Using CERs could lower compliance costs, support stranded projects and ensure sufficient supply for CORSIA's implementation. However, the study finds that purchase programmes or policies that recognize all types of CERs for post-2020 targets are unlikely to trigger significant emission reductions beyond those that would occur in the absence the programme or policy [sei-international.org]

» September 14 2017 - #Coal #LowEmissionCoal #HELE § § #WCA Report: ASEAN's Energy Equation. A new report co-authored by the World Coal Association and the ASEAN Centre for Energy, considers the role of low emission coal in driving a sustainable energy future in the ASEAN region [worldcoal.org]

» September 14 2017 - #ClimatePolicy § #CARISMA § Improving coherence in the post-Paris global #ClimateGovernance architecture [...] An overview of three significant areas of climate action initiated outside of the UNFCCC - focusing on other international legal regimes, minilateral climate coalitions and actions by non-Party stakeholders - and offers some indications of how such action may evolve in light of the Paris outcome. It then discusses the ways in which the United Nations climate regime is linked to action taken in other venues, with a focus on the Paris Agreement. The discussion paper ends with three suggestions on how those relationships could be strengthened, namely: (1) enhancing the visibility of non-UNFCCC climate action; (2) developing operational linkages; and (3) monitoring and review [carisma-project.eu]

» September 13 2017 - #RenewableEnergy § #IRENA Report § #Geothermalpower: Technology brief is an analysis of the #GeothermalIndustry, exploring market potential whilst identifying barriers and offering policy makers insights on ways to scale up geothermal power generation. The amount of heat within the earth's surface is estimated to contain many times more energy than all oil and gas resources worldwide. Geothermal power, therefore, offers considerable potential for growth [irena.com]

» September 13 2017 - #Geopolitics #NuclearWeapons #GlobalConflict #FullWar § Bulletin of the Atomic Scientists § How dangerous is #HybridWar? The current sense of "hybrid war," was introduced in 2005, when James N. Mattis, now the US defense secretary, and National Defense University researcher Frank Hoffman called it "a combination of novel approaches-a merger of different modes and means of war." Since then, the use of hybrid warfare techniques has expanded dramatically, from Iran's blend of military and paramilitary tools to China's use of a "gray zone" approach in the areas close to its coast, and to the "netwars" launched by anonymous states and non-state actors, alike. In this issue, top experts look at the hybridized strategies of Russia, China, and Iran and, more generally, at the militarization of the Internet that seems to foreshadow a continued increase in global conflict just below the level of full war [thebulletin.org]

» September 12 2017 - #Geopolitics § #ClimateChange and the #SyrianCivilWar revisited. A new study, published in the #JournalPoliticalGeography, shows that there is no sound evidence that global climate change was a factor in causing the Syrian civil war. Claims that a major drought caused by anthropogenic climate change was a key factor in starting the Syrian civil war have gained considerable traction since 2015 and have become an accepted narrative in the press, most recently repeated by former US vice president Al Gore in relation to Brexit [...] Our paper finds that there is no sound evidence that global climate change was a factor in sparking the Syrian civil war. Indeed, it is extraordinary that this claim has become so widely accepted when the scientific evidence for it is so thin [...] Global climate change is a very real challenge, and will undoubtedly have significant conflict and security consequences, but there is no good evidence that this is what was going on in this case. It is vital that experts, commentators and policymakers resist the temptation to make exaggerated claims about the conflict implications of climate change. Overblown claims not based on rigorous science only risk fueling climate scepticism [sciencedirect.com]

» September 11 2017 - #WindPower #LCOE #LowCarbonEconomy #Energy § #TallTowers, long blades and manifest destiny: The migration of land-based wind from the Great Plains to the thirteen colonies. Until recently, it was not economically feasible to install wind turbines in many locations, including in large portions of the states that border the Atlantic Ocean in the United States, due to the low wind speeds. Newer designs allow turbines to be deployed at higher hub heights (>100 m) where wind speeds are greater, and come with longer blades, allowing them to produce significantly more energy at lower wind speeds. We undertake a case study, using rural Sussex County, Delaware, US, to study their economic feasibility. We take an interdisciplinary approach, move beyond theory and general models, and consider micro-scale wind resources (the primary driver of revenue); local site geology, which influences project feasibility and foundation cost; local transmission constraints and expenses related to transmission and connection to the existing electrical grid; local values attributable to the environmental attributes of wind power; operation and maintenance costs (including insurance and replacement parts); land use and zoning considerations, including setbacks from roads, structures and airports; taxes; and rents/royalties. We find the base case levelized cost of energy (LCOE) to be $70/MWh (before accounting for the federal production tax credit) based on a 25 year-life of a wind turbine. Sensitivity analyses are undertaken around project life, project finance, the discount rate, and wind speed [sciencedirect.com]

» September 9 2017 - #GreenBonds #Finance #LowCarbonEconomy § #Zurich's green bond investment surpasses USD 2 billion - what are they really worth? Zurich's portfolio of green bonds has grown to over USD 2 billion. As an investment, it not only generates a solid return. The bonds also contribute significantly to reducing CO2 emissions [..] Zurich has invested in over 120 green bonds, from 75 issuers, in 7 currencies, and over 14 teams contributed to the effort [...] Zurich's six-point strategy to address climate change in investments 1. Formulate and monitor relevant climate change scenarios 2. Strengthen the process of integrating Environmental, Social and Governance (ESG) factors into the investment process with a focus on climate change-related risks and opportunities 3. Selectively supplement ESG integration efforts by reflecting climate change-related risks in the calculation of benchmark indices 4. Finance the transition to the low carbon economy through green bonds and other investments such as private equity or infrastructure lending 5. Drive change in the market place by advocating for policies that help address climate change 6. Reflect climate change in active ownership practices such as proxy voting and corporate engagement [zurich.co.uk]

» September 8 2017 - #CarbonMarket #DecarbonizedEconomy § #COP23 #Inofographic § The Role of #CarbonPricing, Taxing & Trading in Emissions Reduction. The total value of carbon market in 2017 is $52bn, an increase of 7% from 2016. Sweden: A Shining example. Since Sweden introduced a carbon price in 1990, CO2 has reduced by 22%, whilst GDP has grown by 58%. Climate Leadership Council proposed: 'The Conservative Case for Carbon Dividends', a carbon tax starting at $40 p/ton and rising each year- the $250 billion in revenues generated after 10 years would be redistributed as quarterly cheques to every U.S household [cop-23.org]

» September 8 2017 - #GreenBonds #Finance #DecarbonizedEconomy § #Bloomberg § #Japan is starting to play catch-up on green bonds. The country's fledgling market for environmentally friendly debt got a boost [...] after Barclays helped sell 4.67 billion yen ($42.8 million) of bonds to finance development of a solar-power plant in Kyoto prefecture. The country's environmental ministry issued guidance on green bonds in March, saying not enough are being offered there. Goldman Sachs said earlier this year that it expects to reach a target of arranging $1 billion of renewable-energy securities in Japan in the next few years [bloomberg.com]

» September 7 2017 - #EnergyPolicy #ParisAgreement #DecarbonizedEconomy § #REI Report § #BusinessRisks of New #Coal-fired #PowerPlant Projects in #Japan - The Decline in Capacity Factor and Its Effect on the Business Feasibility. Since the adoption and enforcement of the Paris Agreement, a movement to withdraw from the coal business has been growing in the world, with the aim of transitioning to de-carbonized economy. In Japan, however, construction of 42 new coal-fired power plants are planned. This report examines the current status and future outlook for electricity supply and demand, and clarifies the business risks of new coal-fired power plant projects. The report points out that the capacity factor of coal-fired power plants, which is now 80%, could be significantly declined to as low as 56% by FY 2026 if the new coal-fired power plant projects are realized, and this value could be less than 50% if 5% reduction of electricity demand is achieved by energy savings and efficiency. There is a growing trend among Japanese companies to include transition to de-carbonized economy in their business strategies and expand the utilization of renewable energy. Now that companies are encouraged to clearly disclose information related to climate change, appropriate decisions on investments and loans are necessary particularly for all companies and financial institutions involved with coal business. We expect that this report will trigger active discussions on these issues [renewable-ei.org]

» September 6 2017 - #ClimatePolicy #LowCarbonEconomy § #Ethics and #Climate § 571 Strategies To Reduce #GHGEmissions Adopted by 44 #Cities. This paper identifies greenhouse gas (GHG) emissions reduction targets and strategies that have been adopted to achieve these targets by 44 cities around the world. This paper's identification of hundreds of strategies adopted by 44 cities demonstrates that local governments are innovating to find creative strategies to reduce the enormous threat of climate change and thereby implementing novel GHG reduction tactics, many of which cannot be taken by higher levels of government including state, regional, and national governments. Because local governments are working at a scale closer to most people and businesses that are responsible for GHG emissions, local governments are often in an optimal position to work closest with those most responsible for GHG emissions [ethicsandclimate.org]

» September 6 2017 - #Energy #FossilFuels #Finance § #IEEFA § How #RenewableEnergy Holdings Can Contribute to the Growth of Norway's Pension Fund (#GPFG) in a Time of #OilIndustry Uncertainty. Norway's Government Pension Fund Global (GPFG) is facing a series of time-sensitive strategic investment decisions driven in large part by the declining financial performance of the oil industry. The Fund plays an integral role in supporting the annual budget of Norway, which counts on its contributions to maintain services and to balance the budget. The Fund's oil investments today place Norway budgetwise on a trajectory for long-term structural decline, and must be addressed quickly. To manage the Fund in a declining oil market, the Ministry of Finance and its advisors have opted to increase the proportion of Fund assets invested in the stock market, from 62.5 percent of the Fund's 7.5 trillion NOK (US$976 billion) in holdings to 70% [ieefa.org]

» September 5 2017 - #EnergyPolicy #Oil #RenewableEnergy #GlobalEnergyDemand § #EnergyPost § #DNV GL's #EnergyTransition Outlook (#ETO): for the first time in history, energy demand will peak. Global energy demand will plateau from 2030, oil demand will flatten from 2020 to 2028 and go to a significant decline thereafter, the shift to renewable energy will be quicker and more massive than most people realize, yet the energy transition will not be difficult to finance. These are some of the momentous conclusions of a set of major new reports from independent energy consultancy DNV GL, under the name Energy Transition Outlook (ETO) [energypost.eu]

» September 5 2017 - #OilMarket #Geopolitics § #OilPrice § Investment banks slash Oil Price forecasts again, Brent at $54 in 2018 [...] The average prediction from the 14 investment banks puts Brent crude at $54 per barrel in 2018, down $1 per barrel from the same survey a month earlier. It marked the fourth consecutive month that major analysts cut their price forecasts. The big reason is the expectation that the OPEC deal expires next year and the group ramps up production [oilprice.com]

» September 5 2017 - #EnergyPolicy #Geopolitics § #PetroleumEconomist § #Renewables: #India's magic pill for #Energy demand? India may not meet all its ambitious clean energy targets, but renewables will play a vital role, alongside hydrocarbons, to help meet the country's burgeoning electricity consumption. In the coming decades, India will contribute more than any other country to the rise in global energy demand. In the International Energy Agency's New Policies Scenario (NPS), total primary energy demand in India will almost triple in the next quarter century, rising from 0.775bn tonnes of oil equivalent (toe) in 2013 to 1.908bn toe in 2040 [petroleum-economist.com]

» September 5 2017 - #ClimateChange #Geopolitics § #IGES § #GHGEmissions Database aims at providing comprehensive organised information on the GHG emissions from Annex I countries to the UNFCCC in an easy-to-understand way. The data is extracted from the publicly available sources on the UNFCCC web-site and will be updated regularly. New in the version 7.1 (July 2017 update): Emissions for the year 2015 have been added. Emissions for the 1990-2014 period have been updated. Two new columns for the base year and the percentage of change from base year have been added. Three new columns have been added, informing on the emissions reductions target of each country under the Cancun Agreement, the respective base year of those targets, and the KP-CP2 emission reductions targets. Sorting of countries per new categories and alphabetically inside each category. Update of the guidance sheet, with notably an update history. Streamlined and more colorful data layout [iges.or.jp]

» September 4 2017 - #ClimateChange #Geopolitics #NASA #GISS § #ThinkProgress § Trump names climate science denier to run NASA [...] Warming didn't stop in 2003, and, in fact, 2016 did become the hottest year on record. Now 2017 is on track to be the hottest year on record not boosted by an El Nino. The truth is that while "planetary warming does not care about the election," humanity very much cares that the Trump Administration is doing everything it can to undermine climate science and climate action. #Bridenstine's nomination deserves widespread opposition [thinkprogress.org]

» September 1 2017 - #NaturalGas #FossilFuels #EnergyPolicy § #IEA #MarketReport Series § Gas 2017, Market Analysis and Forecasts to 2022. The natural gas market is undergoing a fundamental transformation. Industry has overtaken the power sector as the driving force behind the growing use of gas, thanks to rising demand in places like the People's Republic of China, developing Asia, the Middle East and the United States. At the same time, structural changes in gas supply and trade are changing the global gas market. Heavily oversupplied markets, the ongoing shale-gas revolution in the United States, the second wave of additional liquefaction capacity from Australia and the US, and the fast-growing LNG trade are disrupting traditional gas business and pricing models. This is forcing market players to redefine their strategies and explore new markets [iea.org]

» September 1 2017 - #Oil #FossilFuels #EnergyPolicy § #PetroleumEconomist § Hurricane Harvey's #Energy impact. A storm-ravaged Gulf Coast faces a large and complex recovery that could take longer than energy investors expect [...] Hurricane Harvey slammed into the Gulf Coast, the heart of America's oil and gas industry and one of the world's largest energy hubs [...] But the fallout on energy markets will be great: supply, energy infrastructure and demand have all already been significantly affected by the storm. Gasoline and other fuel prices quickly jumped more than 5% as the scale of the disaster became clear and refineries along the coast were shut down. WTI crude prices fell more than 2%, and the benchmark's discount to Brent spread to more than $5 a barrel for the first time since mid-2015, on reduced demand from Gulf Coast refiner [petroleum-economist.com]

» August 31 2017 - #ClimateChange #NDCs § #WorldBank § Results-Based #ClimateFinance in Practice: Delivering Climate Finance for #LowCarbonDevelopment. Results-based financing is a well-established financing modality in the health and education sectors but it is still in an early stage of deployment in the area of climate change. This report reviews 74 results-based climate financing (RBCF) programs implemented in developing countries with an objective to: assess the haracteristics and overall volume of funding flowing through RBCF programs, describe the various approaches to designing and implementing RBCF programs, and compare practical experiences with applying RBCF with the existing theory and literature. The report finds that RBCF can: facilitate carbon pricing and market building, support host countries' policy processes to achieve their NDCs, and leverage private sector activity and financing. RBCF can thus play a critical role in mobilizing the resources and supporting the policies and actions needed to achieve the objectives of the Paris Agreement [worldbank.org]

» August 30 2017 - #Energy #FossilFuels § #Coal, Market Intervention is the Only Way Forward [...] the vision of Glenn Kellow - a Major coal CEO (Peabody) - for how the coal industry will stage: "We not only need to change the playbook, we need to change the entire game." [...] "We're calling for a two-year moratorium on coal plant retirements, a leveling of the playing field with renewables, a greater focus for all players to increase competitiveness with natural gas, and increased use of [high-efficiency, low-emissions] technologies and advancement of [carbon capture and storage] technologies." [ieefa.org]

» August 30 2017 - #Energy #Power § #China Is Creating the World's Largest Power Company [...] the merger of Shenhua Group Corp., the country's top coal miner, with China Guodian Corp., among its largest power generators [...] With assets of 1.8 trillion yuan ($271 billion), the new entity will be the world's second-biggest company by revenue and largest by installed capacity [...] The new company will have installed capacity of more than 225 gigawatts, topping Electricite de France SA and Enel SpA [..] EDF, as the French generator is known, had net installed capacity of 137.5 gigawatts last year [...] Italy's Enel had total installed capacity of 83 gigawatts [bloomberg.com]

» August 29 2017 - #LowCarbonEconomy #ResearchAndDevelopment #Innovation #EU § #CARISMA § R&D offshoring in #ClimateTechnologies to #EmergingEconomies: opportunities and challenges for Europe. This report provides an updated overview of research and development (R&D) offshoring, focusing on the key drivers and challenges for the MNCs involved. The report identifies the following main drivers for the observed increase in R&D offshoring to emerging economies: (i) cost considerations;(ii) the effective adaptation of products to local markets; (iii) the search for talent and new ideas; and (iv) the aspiration to tap into local systems of innovation. The main challenges of R&D offshoring the report identifies are: (i) cultural and organisational differences; (ii) how to manage globally dispersed R&D activities; and (iii) how to protect intellectual property rights [carisma-project.eu]

» August 29 2017 - #ClimatePolicy #Geopolitics #China #US § #Rattani #Cseindia. The #EU at a crossroads in #ClimateNegotiations. The issue of climate change has invoked the European Union's interests since the time the issue became a political one in early 1990s. The EU has been an active entity in formulating rules and policies to address climate change domestically and internationally too. It was a leader in the climate change issue for a decade responsible for successful ratification of the Kyoto Protocol and implementing various policies and practices. Its role however has considerably weakened post Copenhagen Summit in 2009 [...] the exit of US under Trump has provided th EU with an unique opportunuty to rise to the occasion to fill the void left by the US [cseindia.org]

» August 28 2017 - #EnergyPolicy #EnergyTransition #Geopolitics § Peer Review on #FossilFuelSubsidy Reforms in Chinese #Taipei. Chinese Taipei has participated in the fossil fuel subsidy reform peer review process led by the APEC Energy Working Group (EWG) in 2016, and is the fourth volunteer member economy to do so since 2014, following Peru (in 2014), New Zealand (2015), and the Philippines (2015). This peer review report is the culmination of the activities conducted under the APEC EWG. The report provides useful information on the Chinese Taipei economy and energy use, as well as descriptions of the subsidies chosen for the peer review process and the panel's findings and recommendations on potential inefficiencies for these subsidies [apec.org]

» August 25 2017 - #EnergyTransition § #IEA #WEI. World #EnergyInvestment 2017. Total energy investment worldwide in 2016 was just over $1.7 trillion, accounting for 2.2% of global GDP. Investment was down by 12% compared to IEA's revised 2015 energy investment estimate of $1.9 trillion. Spending in energy efficiency rose by 9% while spending in electricity networks rose by 6%, yet these increases were more than offset by a continuing drop in investment in upstream oil and gas, which fell by over a quarter, and power generation, down 5%. Falling unit capital costs, especially in upstream oil and gas, and solar photovoltaics (PV), was a key reason for lower investment, though reduced drilling and less fossil fuel-based power capacity also contributed. For the first time ever, the electricity sector edged ahead of the oil and gas sector in 2016 to become the largest recipient of energy investment. However oil and gas still represent two-fifths of global energy supply investment, despite a fall of 38% in capital spending in that sector between 2014 and 2016. As a result, the share of low-carbon supply-side energy investments, including electricity networks, grew by six percentage points to 43% over the same period [iea.org]

» August 25 2017 - #Oil #Geopolitcs § #OPEC oil supply is set to fall by 419,000 barrels per day (bpd) this month, a company that tracks OPEC shipments forecast on Monday, reflecting plans for lower exports by Saudi Arabia and reductions by other producers. The 14-member Organization of the Petroleum Exporting Countries has agreed to cut output by about 1.2 million bpd until March 2018 in an effort to reduce inventories and support prices. Compliance with the deal has been high so far but OPEC production hit a 2017 peak in July, in part on increased output from Libya and Nigeria, which were exempted from the pact due to production-sapping unrest [reuters.com]

» August 25 2017 - #EnergyPolicy § In a #ParisAgreement world, #Coal will meet growing Asian energy needs. When providing 41% of the world's electricity, 85% of global cement, 74% of the world's steel and 60% of the world's aluminium, coal is justly considered an enabler of modern societies and economic development. Coal helps build infrastructure and power up businesses and homes. If we look at Asia, in particular, we'll see that according to the United Nations, by 2050 64% of Asia's population is expected to be urban. As Asia rapidly urbanises and industrialises, coal becomes the fuel of choice, due to its abundance, affordability and reliability. 50% of electricity generation growth in Southeast Asia by 2040 will come from coal, overtaking gas as the primary fuel [worldcoal.org]

» August 25 2017 - #LowCarbonEconomy #EnergyTransition § #EnergyPost. The five key characteristics of the #FutureEnergyCompany. #EnergyMarkets are in the middle of a revolution, triggered by #Decarbonisation and innovation. History suggests that this is not a safe place to be, not even for the revolutionaries, but especially not for the 'old guard'. Stephen Woodhouse and Simon Bradbury of Poyry Management Consulting investigate the key characteristics necessary for a successful future energy company. (This article was adapted from a new book, Innovation and Disruption at the Grid's Edge, edited by Fereidoon Sioshansi, in which two dozen top experts from across the world give their views on the transformation of the electricity sector) [energypost.eu]

» August 23 2017 - #Water #Conflicts #Geopolitics § #Adelphi. #ClimateChange and #EnvironmentalDegradation are altering the regional and seasonal availability and quality of water. The resulting competition over water use may lead to conflict and sometimes violence. On the occasion of the World Water Week that starts on 26 August in Stockholm, we compiled 10 case studies from the interactive ECC Factbook that analyse the linkages between climate change, water and conflict. They look at various pathways through which environmental factors and security are connected and outline different attempts to find peaceful solutions. 1- Dispute over water in the Nile Basin [...] 2. Water shortages and public discontent in Yemen [...] 3. Turkey, Syria and Iraq: conflict over the Euphrates-Tigris [...] 4. Transboundary water disputes between Afghanistan and Iran [...] 5. Dam projects and disputes in the Mekong River Basin [...] 6. Dispute over water in the Cauvery Basin in India [...] 7. Droughts, livestock prices and armed conflict in Somalia [...] 8. Turkey-Armenia: Water cooperation despite tensions 9. Security implications of growing water scarcity in Egypt [...] 10. Water privatisation in Cochabamba, Bolivia [factbook.ecc-platform.org]

» August 23 2017 - #ClimateChange #LowCarbonDevelopment #ClimateResilientDevelopment § #CDKN. Mainstreaming #ClimateCompatibleDevelopment provides practical recommendations on how to achieve low-carbon, climate-resilient development. The new volume is intended to help countries achieve the goals of the Paris climate agreement smarter and faster [...] pragmatic lessons on: making the political case for climate action by aligning it with fundamental development priorities and getting key interest groups on board; planning at both sectoral and cross-economy level; mobilising financial, human and institutional systems and resources to deliver climate compatible development; scaling up ambition - and in particular, scaling from successful pilot initiatives to more impactful, broader-reaching programmes; and leveraging the ambition and momentum of progressive governments and non-state actors to build and sustain global, collective action [cdkn.org]

» August 23 2017 - #ClimatePolicy #EnergyPolicy #LowCarbonEconomy § #MillenniumInstitute. Policy coherence to achieve the #SDGs: using integrated simulation models to assess effective policies. Coherently addressing the 17 Sustainable Development Goals requires planning tools that guide policy makers. Integrated models such as the iSDG model can bring interlinks to the forefront and facilitate a shift to a discussion on development grounded in systems thinking. This paper presents and demonstrates the use of the new System Dynamics based iSDG family of models. Using a national model for Tanzania, we analyze impacts of substantial investments in photovoltaic capacity. Our focus is on the impacts on three SDGs: SDG 3 on healthy lives and well-being, SDG 4 on education, and SDG 7 on energy. In our simulations, the investments in photovoltaics positively affect life expectancy, years of schooling and access to electricity. More importantly, the progress on these dimensions synergizes and leads to broader system-wide impacts. While this one national example illustrates the anticipated impact of an intervention in one specific area on several SDGs, the iSDG model can be used to support similar analyses for policies related to all the 17 SDGs, both individually and concurrently [springer.com]

» August 18 2017 - #ClimatePolicy #Geopolitics § #FAO Strategy on #ClimateChange. The Strategy has been developed collaboratively to provide an all-encompassing framework for FAO's work on climate change: This includes all technical and geographical areas as well as policy and governance, and FAO's own capacity to deliver. It translates FAO's core mandate into strategic choices and action priorities at global, regional, national and local levels with the central goal of supporting its Member Nations in achieving their commitments under the Paris Agreement and their priorities under the Sustainable Development Goals [fao.org]

» August 18 2017 - #PV #Wind #EU § #CARISMA. Economic costs and benefits of #Renewables deployment in the EU. This report includes system costs in the macroeconomic assessment of wind and PV moving beyond classical LCOE assessments of renewable energy expansion and showed the critical importance of incorporating macroeconomic effects and feedbacks for policy evaluation and design [carisma-project.eu]

» August 18 2017 - #Oil #SaudiArabia #Geopolitcs § #Bloomberg. Saudi #Crude Exports Fall Just as Domestic #Stockpiles Dwindle. Saudi Arabia, the world's biggest crude exporter, shipped the least oil in almost three years in June, just as domestic stockpiles are dwindling. Exports fell to 6.9 million barrels a day, the lowest since September 2014, from 6.92 million in May [...] Domestic stockpiles stood at 256.6 million barrels, the lowest since January 2012 [bloomberg.com]

» August 18 2017 - #ClimatePolicy #EU #Geopolitics § #CARISMA. Report on #CimateChange #Mitigation policy mapping and interaction. The first part of the report categorises and analyses information available in 24 climate change policy databases and identifies gaps and potential information needs. Moreover, it sheds some light on the question of whether the policy information available actually meets the needs of stakeholders using these databases by using an extensive online and offline stakeholder consultation process. The second part of the report focuses on the issue area of policy interactions. Four case studies (France, Austria, Greece, EU-wide) analyse how different climate change mitigation policies (Energy Efficiency Measures, Renewable Energy Support) and instruments (EU ETS) interact with each other and what lessons can be drawn from past experiences in those countries [carisma-project.eu]

» August 18 2017 - #ClimateChange #ClimateFinance #PublicIntervention #G20 § #OECD. The empirics of enabling investment and innovation in #RenewableEnergy. This working paper undertakes econometric analysis to assess the impacts of climate mitigation policies and the quality of the investment environment on investment and innovation in renewable power in OECD and G20 countries. It also assesses how countries’ investment environments interact with climate mitigation policies to influence investment and patent activity in renewable power. The paper gathered and tested data across OECD and G20 countries on more than 70 explanatory variables, which were analysed using two Poisson-family regression models: one to investigate determinants of investment flows in renewable power from 2000 until 2014; and one to investigate determinants of patent counts in renewable-power technologies from 2000 until 2012. Results of the econometric analysis are consistent with the main hypothesis in this paper that beyond setting climate mitigation policies, policy makers need to strengthen the general investment environment and align it with climate mitigation policies in order to mobilise investment and innovation in renewable power across OECD and G20 countries [oecd.org]

» August 17 2017 - #FossilFuels #ClimateChange #Decarbonisation § #HealthAndEnvironmentalAlliance. Hidden Price Tags: How Ending #FossilFuel #Subsidies Would Benefit Our #Health. Despite a growing awareness of the climate and health harm caused by fossil fuels, and high-level commitments to lead the world on to a decarbonisation path, governments around the world continue to provide billions worth of public funds to support the production of oil, gas and coal [env-health.org]

» August 17 2017 - #EnergyPolicy #Geopolitics § #Netherlands Yearbook of International Law, Vol. 48, 2017. #Prosumers: New Actors in #EU #EnergySecurity. Following trends in the EU towards new levels of cooperation in energy governance, decentralization, and the emergence of a gig economy, the energy sector is currently undergoing a large-scale transition. One of its core aspects is the progressive top-down diffusion of potential, competences, and leverage across the energy value chain from states and corporate actors towards prosumers. While this trend creates ample potential for facilitating and improving the EU’s security of supply, as well as fulfilling its climate change targets, several caveats exist. These caveats are not confined within energy security prerogatives; they also extend to the critical management of digital security, which the digitalization of energy services brings to the fore. Private and public finance should be effectively attracted and directed to infrastructure schemes that will enable a transition from the traditional centralized power network to the decentralized nexus of smart grids. Technology will play a crucial role in facilitating the role of prosumers in the new market in-the-making [papers.ssrn.com]

» August 11 2017 - #EV #LowCarbonEconomy #Geopolitics #US § #economist. The death of the internal combustion engine. It had a good run. But the end is in sight for the machine that changed the world [...] Today's electric cars, powered by lithium-ion batteries, can do much better. The Chevy Bolt has a range of 383km; Tesla fans recently drove a Model S more than 1,000km on a single charge. UBS, a bank, reckons the "total cost of ownership" of an electric car will reach parity with a petrol one next year-albeit at a loss to its manufacturer. It optimistically predicts electric vehicles will make up 14% of global car sales by 2025, up from 1% today [economist.com]

» August 9 2017 - #ClimateChange #GlobalWarming #ClimateRisk #Geopolitics #US § #NationalClimateAssessment #NYT. Scientists Fear Trump Will Dismiss Blunt Climate Report. The average temperature in the United States has risen rapidly and drastically since 1980, and recent decades have been the warmest of the past 1,500 years, according to a sweeping federal climate change report awaiting approval by the Trump administration. The draft report by scientists from 13 federal agencies concludes that Americans are feeling the effects of climate change right now. It directly contradicts claims by President Trump and members of his cabinet who say that the human contribution to climate change is uncertain, and that the ability to predict the effects is limited [nytimes.com]

» August 5 2017 - #ClimateChange #GlobalWarming #ClimateRisk § #ScienceAdvances #MIT. #DeadlyHeatWaves projected in the densely populated agricultural regions of #SouthAsia. The risk associated with any climate change impact reflects intensity of natural hazard and level of human vulnerability. Previous work has shown that a wet-bulb temperature of 35°C can be considered an upper limit on human survivability. On the basis of an ensemble of high-resolution climate change simulations, we project that extremes of wet-bulb temperature in South Asia are likely to approach and, in a few locations, exceed this critical threshold by the late 21st century under the business-as-usual scenario of future greenhouse gas emissions. The most intense hazard from extreme future heat waves is concentrated around densely populated agricultural regions of the Ganges and Indus river basins. Climate change, without mitigation, presents a serious and unique risk in South Asia, a region inhabited by about one-fifth of the global human population, due to an unprecedented combination of severe natural hazard and acute vulnerability [advances.sciencemag.org]

» July 31 2017 - #ClimateChange #Geopolitics #ClimatePolicy #LowCarbonEconomy § #JiQ Magazine. Integrating #CircularEconomy in the #EducationSystem . It has been a few years now that circular economy started to emerge as a core policy topic, promoted among others by the European Commission, towards a more sustainable society. At the same time, it is often unclear what is meant by it. In a recent study that JIN Climate and Sustainability coordinated, some of the interviewees linked a circular economy to waste management, while others referred to energy efficiency measures. Very few interviewed stakeholders described circular economy as a societal concept, focussed on efficient processes and recycling, reuse and useful utilisation of resources after being processed, limiting waste to a minimum. A core element of the conceptual development of circular economy is education, which starts at primary school (first awareness building), continues during next educational stages (acquiring a circular economy toolbox), after which the knowledge can be applied in the labour market, and updated with help of concepts such as lifelong learning [cdnjin]

» July 29 2017 - #ClimateChange #Geopolitics #ClimatePolicy #KyotoProtocol #ParisAgreement #Treaties #FrameworkConvention § International Climate Change Law (Oxford Univ Press 2017). Introduction to International #ClimateChangeLaw. Introductory chapter to new treatise on international climate change. The chapter (a) provides a brief overview of the climate change problem; (b) describes three perspectives on the problem (environmental, economic, and ethical); (c) delineates the boundaries of international climate change law; (d) introduces three recurring themes in the development of the UN climate change regime (legal bindingness, architecture; and differentiation), and (e) introduces the broader context of international climate change law, including its relationship to other areas of international law and to polycentric climate change governance [papers.ssrn.com]

» July 28 2017 - #NaturalGas #Geopolitics #US § #BakerInsitut. #Russia's Use of the #EnergyWeapon in #Europe. Transatlantic disputes over projects like the proposed Nord Stream-2 (NS-2) pipeline-which would increase Russian gas supplies to Europe-will likely continue for years to come, as US-Russia geopolitical competition intensifies and the political toxicity of Russia-related matters rises in Washington. Accordingly, this brief aims to inform and contextualize the discussion by (1) quantifying the potential exposure of key European countries to Russian gas price and supply manipulation,(2) showing how Moscow has used energy as an instrument of coercive diplomacy since the early 1990s, and (3) briefly assessing the impacts and future policy implications of Russian entities' past use of the 'energy weapon' in and near Europe [bakerinstitute.org]

» July 27 2017 - #LowCarbonEconomy #Industry4.0 § #NationalGeographicChannel. World's #SmartCities: #San Diego. #SmarUrbanPlanning has transformed San Diego, California into one of the most exciting spots in the United States. Their example could greatly benefit other large cities across the globe [...] A flurry of small farms provide easy access to the freshest, healthiest foods for all residents. The coastal areas are a magnate for marine life and oceanographers alike. The city has also created a name for itself as a cultural mecca by playing host to the wildly popular Comic Con event every year [topdocumentaryfilms.com]

» July 27 2017 - #LowCarbonEconomy #Industry4.0 § #MarketAndMarkets. #SmartCities Market by Focus Areas, #Transportation (Types, Solutions, Services), #Utilities (Types, Solutions, Services), #Buildings (Types, Solutions, Services), #CitizenServices (Types), and #Region - #GlobalForecast to 2022. The global smart cities market size is projected to grow from USD 424.68 Billion in 2017 to USD 1,201.69 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.1%. The base year considered for the study is 2016, and the market size is forecast from 2017 to 2022. Across regions, the smart cities market has been segmented into 4 major focus areas: transportation, utilities, buildings, and smart citizen services. Rapid Connectivity, fast telecommunication provision, growing population, and hyper-urbanization are the major driving factors for the smart cities market. Many Cities around the world are rapidly adopting smart solutions in their various sectors, such as transportation, utilities, buildings, and citizen services to attain better standards of living, economic stability, optimal utilization of energy, and advanced environmental protection depending on technologies including IoT, sensors, mobile and cloud. The research methodology used to estimate and forecast the smart cities market begins with the collection and analysis of data on key vendor revenues through secondary research on databases, such as Factiva and D&D Hoovers. Vendors' products and solutions are analyzed to determine the market segmentation. The bottom-up procedure is used to arrive at the total market size of the global smart cities market from the revenues of key players in the market. After estimating the total market size, it is split into the segments and subsegments which are then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. This data triangulation and market breakdown procedures are employed to complete the overall market engineering process and arrive at the accurate statistics for all segments and subsegments [marketsandmarkets.com]

» July 27 2017 - #EV #FossilFuels § #Ft. New #Petrol, #Diesel Cars could face #UK ban by 2040 [ft.com]

» July 26 2017 - #Oil #Geopolitics #OilMarket § #OliPrice. Despite the #OilIndustry being arguably the most vital and influential sector in the world, the average member of the public knows relatively little about its inner workings. Oil prices are possibly the most obvious example of this, with constant discussions over whether they will drop below $40 or if they are set to rise. What many investors are unaware of, however, is that there are over a thousand types of crude oil. This means that Western Canadian Select, trading at 36.77, is already below that much-hyped $40 mark, and while Brent oil prices fell nearly 50 cents on Thursday, Qatar's Marine blend was up by a dollar. From the giant Daqing oil field in China, to the offshore Girassol oil field in Angola, oil is produced around the world at differing levels of quality and with varying costs. A barrel of Alaskan North Slope will cost you nearly $50 in today's market, while Ecuador's Napo crude is currently trading at less the $40. And all of this oil then battles for market share across the globe - a recent example being India's decision to start buying U.S. crude in order to replace the OPEC imports that have been growing increasingly expensive [...] This data is incredibly valuable for everyone from oil traders to geopolitical analysts [bloomberg.com]

» July 25 2017 - #Oil #Geopolitics #StrategicPetroleumReserve § #Bloomberg. The U.S. government began stockpiling oil July 21, 1977. It started with just 412,000 bbl of Saudi Arabian light crude stashed in a Southeast Texas salt dome. In the wake of the Arab oil embargo in the first half of the 1970s, which sent prices through the roof and forced Americans to ration gasoline, creating a national reserve seemed like an obvious way to protect U.S. consumers from global supply shocks [...] Forty years later, the world has changed, and Washington is torn on whether the Strategic Petroleum Reserve has outlived its usefulness. The U.S. is awash in crude, imports are declining, yet the stockpile remains the largest in world, ballooning to nearly 700 million barrels of crude, enough to offset U.S. production for more than two months, stored in some 60 caverns in Texas and Louisiana [bloomberg.com]

» July 25 2017 - #ClimatePolicy #Energytransition #LowCarbonEconomy § #I4ce report. Landscape of #ClimateFinance in #France, Complete 2016 Edition. The Landscape of climate finance maps financial flows in favor of climate and the broader energy transition in France. The analysis of the flows allows an assessment of which actors conduct these investments and how they finance different types of projects [...] The principal findings demonstrate that €32 bn of investment contributed to climate mitigation in France in 2014 and 2015. This represents 10% of the current annual investment in France. The results by sectors are €12,8bn in energy efficiency, principally in buildings, €6,5bn in renewable energy, €10,6bn in sustainable transport infrastructure. To this, an additional €2,1bn was invested in nuclear power plants [i4ce.org]

» July 25 2017 - #ClimatePolicy #ClimateRisks #EconomicGrowth #LowCarbonEconomy § #Teri report. #SDG footprint of asian #NDCs. Asia is one of the most vibrant and dynamic regions of the world in terms of geography, polity, and demography. The region faces critical developmental challenges with large number of its population below the poverty line and without access to basic standards of living. Impacts of changing climate will intensify the already persistent developmental challenges in the region. In recent years, the region has been witnessing dramatic shifts in its socioeconomic constitution driven by rapid increase in population, high economic growth, and increase in urbanisation. It is therefore an opportune time for countries in the region to transition to a low carbon, climate resilient high, and growth development trajectory as majority of the development will happen now for most of these countries [ndcfootprints.org]

» July 24 2017 - #Oil #Geopolitics § Joint #OPEC-Non-OPEC Ministerial Monitoring Committee (#JMMC), St. Petersburg (#russia). The presentations made by the representatives of #Libya and #Nigeria on their production recovery plans, prospects, and challenges, acknowledges the upside limitations of both countries beyond their current production levels. Once their production levels stabilize, participating producing countries should further cooperate in a manner that contributes to the stabilization of the market. The JMMC will continue to monitor and recommend further actions including the holding of an extraordinary conference of the 24 producing countries if needed. The JMMC further welcomed the flexibility of Nigeria in this regard, which despite its commitment to recover its pre-crisis production level, voluntarily agreed to implement similar OPEC production adjustments as soon as its recovery reaches a sustainable production volume of 1.8 mb/d [opec.org]

» July 21 2017 - #ClimatePolicy #Geopolitics § #ClimateDiplomacy policy brief. #China and its climate leadership in a #ChangingWorld - From passive follower to constructive shaper of the global order. Substantial changes are underway in a number of countries and in international politics. Time is also running short for the global community to tackle climate change. Donald Trump's election as US president and the US’s withdrawal from the Paris Agreement has cast a long shadow over international climate cooperation and diplomacy. The world community is looking to China to help fill the leadership vacuum in international climate politics. This discussion paper seeks to provide a list of concrete recommendations for operationalising China's global climate leadership and the rationale for why China should go for it. It takes as its starting point China’s role as a constructive shaper of the global governance regime, which not only represents the new strategic direction in China's foreign policy, but also challenges and opportunities for European countries in exploring shared leadership with China [climate-diplomacy.org]

» July 21 2017 - #Oil #Opec #Russia #Geopolitics § An abundance of global #CrudeSupplies has put pressure on #OilPrices and key members of the Organization of the Petroleum Exporting Countries (OPEC) are scheduled to meet non-members in St. Petersburg, Russia, on Monday to discuss market conditions and whether more action is needed to support prices [...] OPEC, together with some non-members like Russia, has pledged to reduce the global glut by cutting production by 1.8 million barrels per day (bpd) between January this year and March 2018 [reuters.com]

» July 21 2017 - #ClimateFinance #Germany § Greater transparency in German climate finance in 2015. In 2015, Germany committed a total of around €2.7 billion for climate protection and adaptation to climate change in developing countries. About €2.31 billion of this comes from bilateral development cooperation and €371 million from multilateral funds and development banks. These resources originate in the budgets of the Federal Ministry for Economic Cooperation and Development (BMZ) and the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB) [germanclimatefinance.de]

» July 21 2017 - #LowCarbonEconomy § #MarketsandMarkets Report. #SmartCities Market by Focus Areas, Transportation (Types, Solutions, Services), Utilities (Types, Solutions, Services), Buildings (Types, Solutions, Services), Citizen Services (Types), and Region - Global Forecast to 2022: Market size is expected to grow from USD 424.68 Billion in 2017 to USD 1,201.69 Billion by 2022, at a CAGR of 23.1% during the forecast period, mainly due to rapid connectivity and fast telecommunication provision and growing demography and hyper-urbanization [marketsandmarkets.com]

» July 20 2017 - #ClimateChange § #CDD journal. #StatisticalDownscaling of Future #PrecipitationScenarios for Agusan del Norte, Philippines. General circulation models (#GCMs) are essential tools for understanding climate behavior and projecting future global climate, but with limited applications for local vulnerability assessments, impact studies, and risk analyses. This study demonstrates the use of statistical downscaling technique, which is computationally inexpensive and efficient in generating locally relevant data from GCMs. The 30-year records of daily precipitation data from 1981 to 2010 in Agusan del Norte, Philippines were considered to analyze the existing climatic condition of the province. Future precipitation magnitude, centered on 2020 (2006-2035), 2050 (2036-2065), and 2080 (2066-2095), were generated using a statistical downscaling technique under A1B climate scenario. Based on the analyses of annual 24-hour and 48-hour maximum precipitation, climatic conditions for present and future scenarios were analyzed. Precipitations with 24-hour duration are expected to increase by about 2-18%, 6-19%, and 15-51% for the period 2020, 2050, and 2080, respectively. Meanwhile, rainfall with 48-hour duration is projected to increase by about 7-17%, 7-18%, and 16-51% for the period 2020, 2050, and 2080, respectively. Future precipitation scenarios can help stakeholders from different sectors in the province evaluate impacts and identify tradeoffs towards implementing the most appropriate climate change adaptation strategies [cddjournal.org]

» July 20 2017 - #LowCarbonEconomy #CarbonEmissions § #EnergyRecovery from #Waste to be a major sector in future. fficient utilization of resources is the first step followed by energy recovery. Advantages of using an energy recovery from waste system are: It reduces the volume of waste upto 96%. Production of heat and electricity along with solid waste management. Better sanitation, lower risk of contamination and diseases. WtE facilities are designed for high emission control. It has climate change impact as producing energy from waste avoids potential emissions from landfilling. There are already various technologies and pathways existing in the conversion of waste to energy including incineration, gasification, pyrolysis, anaerobic digestion etc. Strict emission rules ensure that the waste is effectively utilized with lower impacts on the environment [worldbioenergy.org]

» July 20 2017 - #Nuclear #Geopolitics § Bulletin of the Atomic Scientists. An animation on #GlobalRisk. It' 2.5 minutes to midnight, the closest it had been to midnight since the early 1980s [thebulletin.org]

» July 20 2017 - #ClimateChangeRisk #SeaLevelRise § More than 90 U.S. communities already face chronic inundation from rising seas caused by #ClimateChange, and the number could jump to nearly 170 communities in less than 20 years and as many as 670 by the end of the century, according to a study by analysts at the Union of Concerned Scientists (UCS) published in the peer-reviewed journal Elementa [ucsusa.org]

» July 18 2017 - #ClimateChange #LowCarbon #ClimateResilient § New #EU Green Securities Steering Committee to Promote #ClimateFinance Opportunities. A new European Green Securities Steering Committee has been launched with the goal of promoting green securities market development in Europe including covered, asset-backed and senior unsecured bonds. The committee has backing from the Climate Bonds Initiative (CBI) and the European Covered Bond Council (ECBC (link is external)) with the support of the UNEP Inquiry. Green investment needed to reach the EU's 2030 emissions targets ranges between 2.6 and 4.5 percent of GDP, with EUR 200 billion of annual investment needed to back clean energy and energy efficiency investments alone. Increasing the uptake of green bonds and green securities of various types can help unlock finance from debt capital markets for low carbon and climate-resilient infrastructure projects across Europe. The new Steering Committee has an ambitious agenda to grow green investment with efforts to be directed at the policy, regulatory, investor and market level. Its foundation members see the opportunities. Their timing couldn't be better. Six global climate leaders including Christiana Figueres have just published a call in the prestigious publication Nation calling for accelerated action (link is external) on climate and carbon efforts over the next three years, part of the Mission2020 project. One of their six milestones is a USD1trillion green bonds and green finance market by 2020 [climatebonds.net]

» July 17 2017 - #Geopolitics #Oil #OilSupplies § #Bloomberg. #Halliburton Co. expects that the worst crude crash in a generation will lead to a spike in oil prices by 2020. Tumbling oil prices brought on by a glut of global oil has forced the industry to slash about $2 trillion in investments, according to the world's biggest fracking provider. Those cuts will weigh heavily on the market in a few years when oil supplies fail to keep up with demand [bloomberg.com]

» July 17 2017 - #Geopolitics #ClimateChange #Germany § #China #Carbon Forum report. Mapping China's #ClimatePolicies, An updated summary of China's climate change policy formation process. The report is aimed at helping climate stakeholders inside and outside of China to better understand how climate change policy is developed in China. The third edition expands prior maps to include analysis of China's international negotiation positions and domestic policies for supporting its nationally determined contributions to mitigating climate change. The Embassy of the Federal Republic of Germany in Beijing provided financial support for this project [chinacarbon.info]

» July 17 2017 - #FossilFuels #CarbonEmissions #ClimatePolicy § #CDP, New report shows just 100 companies are source of over 70% of emissions. Groundbreaking 'Carbon Majors' research finds 100 active fossil fuel producers including ExxonMobil, Shell, BHP Billiton and Gazprom are linked to 71% of industrial greenhouse gas emissions since 1988. Carbon Majors Database is the most comprehensive dataset of historic company greenhouse gas (GHG) emissions ever compiled; 100 active fossil fuel producers are linked to 71% of global industrial greenhouse gases (GHGs) since 1988, the year in which human-induced climate change was officially recognized through the establishment of the Intergovernmental Panel on Climate Change (IPCC); Almost a third (32%) of historic emissions come from publicly listed investor-owned companies, 59% from state-owned companies, and 9% from private investment; Over half of global industrial emissions since 1988 can be traced to just 25 corporate and state producers; Fossil fuel companies and their products have released more emissions in the last 28 years than in the 237 years prior to 1988; Over half (52%) of all global industrial GHGs emitted since the start of the industrial revolution in 1751, have been traced to these 100 fossil fuel producers; Low carbon tipping point in reach if investors and carbon majors take urgent climate action [cdp.net]

» July 14 2017 - #Oil § #IEA, #OilMarket report. Global oil supply rose by 720 kb/d in June to 97.46 mb/d as producers opened the taps. Output stood 1.2 mb/d above a year ago with non-OPEC firmly back in growth mode. Non-OPEC production is expected to expand by 0.7 mb/d in 2017 and 1.4 mb/d in 2018. OPEC crude output rose by 340 kb/d in June to 32.6 mb/d after Saudi flows increased and Libya and Nigeria, spared from cuts, pumped at stronger rates. OPEC compliance slumped to 78%, the lowest rate this year, and was overtaken by the non-OPEC group whose rate improved to 82%. For global demand, after lacklustre 1.0 mb/d growth in 1Q17, there was a dramatic acceleration in 2Q17 to 1.5 mb/d. For 2017 as a whole, demand is forecast to reach 98.0 mb/d, with growth revised up by 0.1 mb/d compared to last month's Report to 1.4 mb/d. Further growth of 1.4 mb/d is foreseen for 2018, with global demand reaching 99.4 mb/d. OECD industry stocks fell in May by 6 mb on lower imports of crude and products. Stocks are now 266 mb above the five-year average, down from 300 mb in April. Preliminary data show a moderate reduction in OECD stocks for June. Benchmark crude oil prices fell by $3-4/bbl on average in June and remain close to their level when the OPEC output deal was announced. Sour crudes such as Dubai, Maya and Urals were all boosted by tight supplies. Global refinery throughput is forecast to reach a record high of 81 mb/d in 3Q17, up 0.8 mb/d from 2Q17 levels. The US contributes half of the 3Q17 build. Refinery runs will decline seasonally by 1.5 mb/d from the peak August level to October [iea.org]

» July 13 2017 - #NaturalGas § #IEA sees global gas demand rising to 2022 as US drives market transformation. Global gas demand is expected to grow by 1.6% a year for the next five years, with consumption reaching almost 4,000 billion cubic meters (bcm) by 2022, up from 3,630 bcm in 2016. China will account for 40% of this growth. Demand from the industrial sector becomes the main engine of gas consumption growth, replacing power generation, where gas is being squeezed by growing renewables and competition from coal. The United States - the world's largest gas consumer and producer - will account for 40% of the world's extra gas production to 2022 thanks to the remarkable growth in its domestic shale industry. By 2022, US production will be 890 bcm, or more than a fifth of global gas output. Production from the Marcellus, one of the world's largest fields, will increase by 45% between 2016 and 2022, even at current low price levels, as producers increase efficiency and produce more gas with fewer rigs [iea.org]

» July 13 2017 - #LowCarbonEconomy #EnergyTansition #Decarbonization § #IRENA report. #StrandedAssets and #Renewables. Assets like power plants can become "stranded" by unanticipated or premature write-downs, devaluation or conversion to liabilities. This will happen to some degree in the transition to a low-carbon economy. However delaying action to address climate change would result in significantly more severe asset stranding, according to this analysis by the International Renewable Energy Agency (IRENA). This raises concerns for investors and companies, as well as policy makers and regulators. This paper examines the potential magnitude of asset stranding in the global energy sector due to a shift to renewables and energy efficiency that would be needed to fulfil the Paris Agreement. Governments, companies and financial institutions all face risk, with consequences along the whole investment chain in both mature and developing capital markets. Early action on carbon-dioxide mitigation, however, would ultimately reduce asset stranding in upstream energy, power generation, and the industry and buildings sectors. In contrast, the value of energy assets stranded would be twice as high with delayed policy action. Developing countries, in particular, can reduce asset stranding - along with broader economic damage - by taking action sooner on energy decarbonisation. Clearly, polluting assets should be stranded before they irreversibly alter the climate. Stranding such assets sooner, meanwhile, will cost countries less. This analysis of asset stranding is rooted in a broader decarbonisation study [irena.org]

» July 12 2017 - #Oil #ShaleGas #US § #Bloomberg. World's top oil traders bet American shale is here to stay. European trading houses from #Trafigura Group to #Mercuria Energy Group and #Vitol Group have invested in U.S. infrastructure and struck supply deals to secure flows of shale oil and gas. The agreements show the traders see long-term opportunities in an industry that has already upended global energy flows, particularly since the U.S. lifted a four-decade old ban on exports at the end of 2015 [bloomberg.com]

» July 12 2017 - #Anthropocene § #Elsevier Global and Planetary Change. Increased sedimentation following the Neolithic Revolution in the Southern Levant. The Dead Sea drainage basin offers a rare combination of well-documented substantial climate change, intense tectonics and abundant archaeological evidence for past human activity in the Southern Levant. It serves as a natural laboratory for understanding how sedimentation rates in a deep basin are related to climate change, tectonics, and anthropogenic impacts on the landscape. Here we show how basin-wide erosion rates are recorded by thicknesses of rhythmic detritus laminae and clastic sediment accumulation rates in a long core retrieved by the Dead Sea Deep Drilling Project in the Dead Sea depocenter. During the last ~ 11.5 kyr the average detrital accumulation rate is ~ 3-4 times that during the last two glacial cycles (MIS 7c-2), and the average thickness of detritus laminae in the last ~ 11.6 kyr is ~ 4.5 times that between ~ 21.7 and 11.6 ka, implying an increased erosion rate on the surrounding slopes during the Holocene. We estimate that this intensified erosion is incompatible with tectonic and climatic regimes during the corresponding time interval and further propose a close association with the Neolithic Revolution in the Levant (beginning at ~ 11.5 ka). We thus suggest that human impact on the landscape was the primary driver causing the intensified erosion and that the Dead Sea sedimentary record serves as a reliable recorder of this impact since the Neolithic Revolution [sciencedirect.com]

» July 12 2017 - #Oil #FossilFuels #EV § #BNEF. The Electric Car Revolution Is Accelerating. Electric cars will outsell fossil-fuel powered vehicles within two decades as battery prices plunge, turning the global auto industry upside down and signaling economic turmoil for oil-exporting countries. The Bloomberg New Energy Finance forecast says adoption of emission-free vehicles will happen more quickly than previously estimated because the cost of building cars is falling so fast. The seismic shift will see cars with a plug account for a third of the global auto fleet by 2040 and displace about 8 million barrels a day of oil production-more than the 7 million barrels Saudi Arabia exports today [bloomberg.com]

» July 12 2017 - #ClimateChange #Mexico § #SupplyChain #ClimateChangeRisk assessment. How can businesses, large and small, make their supply chains more climate resilient and simultaneously become more profitable? Almost any supply chain, but particularly those that are dependent on natural resources, will experience the impacts of a changing climate in all its parts. A recent study by Acclimatise for the IDB's PROADAPT program, shows that assessing climate change risks and their effects helps businesses better understand their supply chains and strengthen their resilience, and in that process, give them a competitive advantage in the market [proadapt.org]

» July 12 2017 - #EnergyPolicy #Geopolitics § #Elsevier Article. Closing the governance gaps in the #Water-#Energy-#Food nexus: Insights from integrative governance. The water-energy-food nexus has become a popular concept in environmental change research and policy debates. Proponents suggest that a nexus approach promotes policy coherence through identifying optimal policy mixes and governance arrangements across the water, energy and food sectors. Although the nexus literature identifies some barriers to achieving coherence it does not clearly explain why the barriers are present, what influences them, and how they can be acted upon. These gaps disconnect the nexus literature from the governance processes it ultimately seeks to influence. This paper examines how the integrative environmental governance literature can help to close these gaps. It extracts insights from seven streams of research literature and discusses their relevance for the nexus literature. We argue that connecting the nexus to decision-making processes requires: i) rethinking the boundaries of nexus analysis vis-a-vis other sectors and levels; ii) elaboration of shared principles that can guide decision-making towards policy coherence - or an appropriate form of fragmentation - in different contexts; iii) viewing policy coherence as a continuous process of changing values and perception rather than as an outcome [sciencedirect.com]

» July 12 2017 - #RenewableEnergy #RenewableInvestments § #IRENA Report. The Renewable Energy Statistics 2017 yearbook shows data on renewable power-generation capacity, renewable power generation and renewable energy balances. The new yearbook also features statistics on investments in renewable energy from 18 major multi-lateral, bilateral and national development financial institutions [irena.org]

» July 11 2017 - #Geopolitics #Famine #EconomicCollapse #ClimateChange § #NYMag article. The Uninhabitable Earth. It is, I promise, worse than you think. If your anxiety about global warming is dominated by fears of sea-level rise, you are barely scratching the surface of what terrors are possible, even within the lifetime of a teenager today. And yet the swelling seas - and the cities they will drown - have so dominated the picture of global warming, and so overwhelmed our capacity for climate panic, that they have occluded our perception of other threats, many much closer at hand. Rising oceans are bad, in fact very bad; but fleeing the coastline will not be enough [nymag.com]

» July 11 2017 - #Geopolitics #ClimateChange #Conflict § Annual Review of Economics, Vol. 7, pp. 577-617, 2015. Climate and Conflict. We review the emerging literature on climate and conflict. We consider multiple types of human conflict, including both interpersonal conflict, such as assault and murder, and intergroup conflict, including riots and civil war. We discuss key methodological issues in estimating causal relationships and largely focus on natural experiments that exploit variation in climate over time. Using a hierarchical meta-analysis that allows us to both estimate the mean effect and quantify the degree of variability across 55 studies, we find that deviations from moderate temperatures and precipitation patterns systematically increase conflict risk. Contemporaneous temperature has the largest average impact, with each 1σ increase in temperature increasing interpersonal conflict by 2.4% and intergroup conflict by 11.3%. We conclude by highlighting research priorities, including a better understanding of the mechanisms linking climate to conflict, societies' ability to adapt to climatic changes, and the likely impacts of future global warming [ssrn.com]

» July 10 2017 - #EnergyInvestments #SDGs #ParisAgreement § World Resources Institute (#WRI) Paper, Financing the #EnergyTransition: Are #WorldBank, #IFC, and #ADB Energy Supply Investments Supporting a #LowCarbonFuture? Finance provided and catalyzed by multilateral development banks (MDBs) will help pay for implementation of the UN Sustainable Development Goals and the Paris Climate Agreement in many developing countries. Although MDBs already track and report on their climate finance, less is known about the extent to which the MDBs are financing projects that are consistent with a low-carbon future. Our working paper looks beyond climate finance to provide an initial assessment of whether a sub-sample of MDBs are financing energy supply infrastructure that is consistent with pathways that limit warming to below 2°C. The report analyzed recently approved (2015-2016) and planned energy supply projects of the World Bank, IFC, and ADB-over 400 total-including nearly 300 infrastructure projects with an estimated $35 billion of finance for energy supply infrastructure in developing countries. OThe analysis raises important policy questions for MDBs, their shareholders, and civil society [wri.org]

» July 10 2017 - #ClimateRisks #EmissionsReduction #ClimateAction #SustainableFinance § #G20 and #ClimateChange: time to lead for a safer future dives deeper into the G20's role in confronting climate change, with a differentiated perspective recognizing the block's diversity across various comparative analyses and indices by reputable institutions. For example, while the G20 in total are responsible for 80% of current and 99% of historic CO2 emissions, USA and EU countries have the highest historical responsibility. Today's average per capita emissions in US, Canada and others are almost 10 times higher than those of India, with the poorest people having much lower emissions, revealing the stark inequality in the group [careclimatechange.org]

» July 10 2017 - #NaturalGas #LNG #US #Geopolitics § #DOE article. U.S. Department of Energy Authorizes Additional Liquefied Natural Gas Exports. The U.S. Department of Energy announced today the approval of two long-term applications to export additional liquefied natural gas (LNG) from the Lake Charles LNG Liquefaction Project in Lake Charles, LA. Additional exports in the amount of 0.33 billion cubic feet per day (Bcf/d) of natural gas are approved from Lake Charles's proposed liquefaction facility. [energy.gov]

» July 10 2017 - #CarbonMarkets #LowCarbonEconomy #China § #IGES report. #CarbonPricing to Accelerate the Diffusion of #LowCarbonTechnology in #China. The business sector in China is highly concerned about the economic benefits and payback period of low-carbon investments. This policy brief argues that putting moderate prices on carbon emissions (i.e., at around CNY 60/t-CO2) would be an effective and economically feasible way to accelerate the diffusion of LCT in the long term in China's most energy-intensive industries [iges.or.jp]

» July 10 2017 - #SDGs #LowCarbonEconomy #Japan § #IGES report. SDGs and Business in Practice: Early Actions by Japanese Private Companies. This report - based on surveys and personal interviews with as many as 250 Japanese companies-represents a first look at actions being undertaken by Japanese companies on SDG implementation. Key observations and findings of the report include: growing awareness, yet challenges remain; Global Compact affiliation represents a key driver; partnerships remain crucial; and the need for national and local governments to advocate a broad and inclusive vision on SDG implementation [iges.or.jp]

» July 10 2017 - #EnergyTransition #CapitalRents #Welfare #Wages § #CARISMA Report. Economic costs and benefits of #Renewables deployment in the #EU. The report analyzes the possible economy-wide implications (e.g. wages and capital rents, welfare) of a large-scale expansion of wind and photovoltaics in the European Union. Part of the EU CARISMA project the report includes system costs in the macroeconomic assessment of wind and PV moving beyond classical LCOE assessments of renewable energy expansion and shows the critical importance of incorporating macroeconomic effects and feedbacks for policy evaluation and design [carisma-project.eu]

» July 10 2017 - #FossilFuelFinance #ClimateRisk #EnergyTransition #BanksFinancing § #RainforestActionNetwork, #BankTrack, #SierraClub, #OilChangeInternational 8th annual #FossilFuel finance report. Banking on Climate Change. In addition to detailing the $290 billion that 37 big banks poured into extreme fossil fuels in the past 3 years, the report card grades bank on their policies, and highlights key case studies: the Keystone XL and Trans Mountain tar sands pipelines, Peabody Energy's bankruptcy, coal mining in Poland, coal power expansion plans in Vietnam and the Philippines, LNG terminals in Maryland and Texas' Rio Grande Valley, and the Dakota Access Pipeline [fsb-tcfd.org]

» July 10 2017 - #Decarbonization #EnergyTransition #California #Germany § Widener University Commonwealth Law School Legal Studies Research Paper. Legal Pathways to Deep Decarbonization: Lessons from California and Germany. This paper describes the approaches being taken in two major developed country jurisdictions that are making substantial efforts toward deep decarbonization - California and Germany - and suggests lessons from that experience that could be useful to the United States. Those lessons are no less important--and are perhaps more important--after President Trump's recent decisions on climate change and the Paris Agreement [ssrn.com]

» July 10 2017 - #NaturalGas #LNG #ClimateChange #EnergyTransition § Climate Action Tracker (#CAT) report. Foot off the gas: increased reliance on natural gas in the power sector risks an emissions lock-in. Massive investments in gas extraction, new pipelines and LNG ports-in addition to what is already existing and often underutilised-will divert financial resources from investments into a decarbonised power sector, and lead to the creation of stranded assets in the coming decades, constituting a major obstacle for the full decarbonisation of the electricity sector [climateactiontracker.org]

» July 10 2017 - #ClimateChange #ClimateInvestments #G20 #EnergyPolicy #EnergyFinancy #Decarbonization § Brown to Green Report from #ClimateTransparency. G20 countries have stepped up green finance, but their investment in fossil fuels remains so high that the "well below 2 degree" warming limits set in the Paris Agreement will be missed by a wide margin. Decarbonisation highlights. The report's G20 decarbonisation ratings overall are mixed: the EU and its G20 member states get good ratings overall, while Russia is rated low, with Australia very low. Renewable energy is on the rise. The G20 countries are already home to 98% of global installed capacity of wind power, 97% of solar power and 93% of electric vehicles. In most G20 countries, renewables as part of the energy supply are growing, except in Russia, where absolute renewable energy supply has decreased by 20% since 2009. China, the Republic of Korea, Turkey and the UK have all experienced strong growth. The G20 countries' greenhouse gas emissions grew by 34% between 1990 and 2014. Yet, in the same period their economies grew more, by nearly 117%, demonstrating that they are using energy resources more efficiently than in the past. The carbon intensity of the G20 total primary energy supply is still rising. This is largely due to most of the G20 countries meeting their increasing energy needs with coal. While the G20 economy's overall energy and carbon intensity have both decreased, energy consumption and higher efficiency has not been sufficient to lead to an overall reduction in greenhouse gas emissions. In half of the G20, greenhouse gas emissions per capita are no longer rising. Canada has the highest greenhouse gas emissions per capita, followed by Saudi Arabia, Australia and the US. Finance highlights. G20 countries are attractive for renewable energy investment, especially China, France, Germany and the UK, although the UK has now abandoned its policy support for renewables. Green bonds constitute less than 1% of each G20 country's debt market, but recent growth rates are remarkable, particularly in China. In 2016, more "green" than "brown" electricity generation capacity was installed worldwide. Yet, there is still substantial public and private investment in G20 countries into "brown" energy infrastructure; Between 2013 and 2014, the G20 countries' public finance institutions such as national and international development banks, majority state-owned banks and export credit agencies, spent an average of almost USD 88 billion a year on coal, oil and gas. Despite their repeated commitment to phasing out fossil fuel subsidies, in 2014, the G20 countries provided a total of over USD 230 billion subsidies to coal, oil and gas. Among G20 countries, the highest levels of public finance for fossil fuels come from Japan and China, who provided about USD 19 billion and USD 17 billion a year between 2013 and 2014, respectively. More carbon pricing mechanisms have been introduced in recent years. Carbon prices and effective carbon rates, which take into account various energy taxes, still remain too low in G20 countries to encourage a substantial shift to a low-carbon economy. Policy highlights. Most governments perform better on the international stage, but still lack progress on national policy and implementation. China, Brazil, France, Germany, India, Mexico and South Africa are ranked the highest for climate action. Countries with the lowest climate policy performance ranking are the US, Australia, Japan, Saudi Arabia and Turkey. None of the G20 countries score particularly highly on their Paris Agreement Pledges. None of them are on a 2°C or 1.5°C emissions pathway. Coal is being phased out in some countries. Canada, France and the UK have established a plan for a coal phase-out (ranked high). Other countries, Germany, Italy and Mexico, are currently considering phasing out coal, or have taken significant action to reduce coal. India and China are ranked medium for their recent closure of - or cancellation of plans for - a number of coal plants [climate-transparency.org]

» July 10 2017 - #ClimateChange #ClimateInvestments #G20 #RenewableEnergy § #Allianz Climate Solutions, #Germanwatch, #NewClimate Institute Report. The Allianz Climate and Energy Monitor 2017 the needs and investment climate for all G20 countries regarding renewable energies. Germany, UK and France maintain the top three positions in the 2017 edition. They combine a largely supportive policy environment for renewable energy with a mature market and adequate general investment environment [...] Most G20 states improved conditions for investments in low-carbon energy over the past year, with several emerging market countries rapidly catching up to the leaders. The rapid development of the renewable energy sector is a crucial success factor for meeting the Paris climate goals. The G20 countries need to roughly double their annual investments in renewable energy to align their power infrastructure with the well below 2°C pathway, fixed at the Paris COP 21 in 2015 [newclimate.org]

» July 10 2017 - #ClimateChange #AirQuality #EU § #IASS Policy Brief. #BlackCarbon in Europe: Targeting an #AirPollutant and #ClimateForcer. This policy brief presents recommendations for action on black carbon, an air pollutant and climate forcer, in the European context. Given the current emissions profile in Europe, targeting the diesel transport and residential combustion sectors will be essential for prioritizing black carbon reductions when taking action on fine particulate matter, as required by the new European National Emissions Ceilings (NEC) Directive. Development of national emission inventories for black carbon using a consistent methodology will also foster better, more cost-effective policy decisions [iass-potsdam.de]

» July 6 2017 - #ClimateFinance #ClimateRisk #RiskManagement § #FSB (Financial Stability Board) Report. Task Force on Climate-related Financial Disclosures, Overview of Recommendations. The TCFD expects that reporting of climate-related risks and opportunities will evolve over time as organizations, investors, and others contribute to the quality and consistency of the information disclosed [...] The Task Force recommends that organizations provide climate-related financial disclosures in their mainstream (i.e., public) annual financial filings [...] The disclosures related to the Strategy and Metrics and Targets recommendations are subject to an assessment of materiality. The disclosures related to the Governance and Risk Management recommendations should be provided because many investors want insight into the governance and risk management context in which organizations' financial and operating results are achieved [fsb-tcfd.org]

» July 6 2017 - #ClimateChange § International Center for Climate Governance, Fondazione Eni Enrico Mattei (FEEM), Fondazione Giorgio Cini, ICCG Climate Think Tank Rankings, fifth edition, the rankings of the most cutting-edge worldwide institutions conducting research and policy support in the field of climate change. This fifth edition assessed 244 think tanks, not strictly affiliated or integrated with Universities specialized in the research fields of climate change and climate policy, which figured in the ICCG Think Tank Map Observatory [...] Two rankings were established. The Standardized Ranking measures the think tanks' efficiency in per capita/researcher terms, by taking into account the number of researchers in each institution. The Top 3 Think Tanks of the 2016 Standardized Ranking are: 1. Woods Hole Research Center (#WHRC). 2. Union of Concerned Scientists (#UCS). 3. Centre for International Forestry Research (#CIFOR). The Absolute Ranking measures the think tanks0 performances regardless of their efficiency and hence size. The Top 3 Think Tanks of the 2016 Absolute Ranking are: 1. Helmholtz Centre for Environmental Research (#UFZ). 2. International Institute for Applied Systems Analysis (IIASA). 3. The Nature Conservancy (#TNC) [thinktankmap.org]

» July 6 2017 - #EnergyTransition § Lessons from Previous #Coal Transitions. This report is the first output of a major international research project coordinated by #IDDRI and #ClimatesStrategies, entitled Coal Transitions: Research and Dialogue on the Future of Coal, bringing together leading research institutes in several major coal producing and consuming countries. The aim of this first report is to highlight key lessons from previous coal transitions in the Netherlands, the UK, Czech Republic, Poland, Spain and the US. It also provides key recommendations to coal producing regions, which are essential to enable a just transition [iddri.org]

» July 5 2017 - #EnergyTransition #EV #LowCarbonEconomy § #Volvo becomes the first major car manufacturer to go all electric. Premium car manufacturer Volvo - which is owned by China's Geely - will launch five fully electric cars across its range between 2019 and 2021. Two of these new cars will be in the company's Polestar high performance sub-brand, which is being revived [telegraph.co.uk]

» July 5 2017 - #EnergyPolicy #Geopolitics #NaturalGas § #GAZPROM to supply #CHINA by pipe in dec 2019. The CEO of Gazprom Alexei Miller and his counterpart at China National Petroleum Corp Wang Yilin signed in Moscow July 4 a supplementary agreement to the sales and purchase agreement for Russian gas to be supplied through the 38bn m3/yr Power of Siberia line. The oil-linked, take-or-pay contract [naturalgasworld.com]

» July 5 2017 - #EnergyPolicy #ClimatePolicy #EnergySecurity #EnergyCosts § #Italy #EnergyStrategy 2017. Italy is putting more weight on renewables, energy supply diversification generally and more competitive trading as it seeks to lower wholesale energy prices. Italy's long-awaited Energy Strategy 2017 (Strategia Energetica Nazionale 2017, or SEN), was published on June 12 for final consultation [...] The final document is scheduled for public release by July 12 but SEN has undergone an extensive public consultation process, which began in mid-October 2016. Similarly to the 2013 SEN, it provides a framework for future energy developments in Italy with four key goals: Lower energy costs and spending; Meeting environmental targets under the Paris Agreement and EU rules; Better security of supply and system flexibility; Development of the energy sector. SEN 2017 covers the period to 2030 and is expected to bring Italy's energy strategy into line with the latest climate and energy plans and objectives approved at the European and international level. The next update will be in 2020 [worldmagazine.com]

» July 4 2017 - #ClimatePolicy #LivestockEmissions § #BusinessGreen Insight Report. A close look at all companies that are offering solutions and technologies to limit #Methane emitted by #Cattle. With more than 1.5 billion cattle on earth representing 15% of global emissions, and the Paris agreement in place, innovative solutions and a new market for agriculture technologies that reduce livestock emissions is growing rapidly. The report unveils the first comprehensive industry landscape of all the players addressing livestock emissions with new technologies that open up an entirely new industry with enormous potential [mootral.com]

» July 4 2017 - #ClimatePolicy #ClimateTransparency § #Shell welcomes and strongly supports the #ParisAgreement, and supports the aspiration of transitioning towards a NetZeroEmissionsWorld by 2050. Investors are increasingly asking companies to disclose more information on the topic of climate change risk. In late 2015, Mark Carney, governor of the Bank of England and head of the Financial Stability Board, called for greater transparency on the risks climate change may impose on an organisation in financial terms, establishing the Task Force on Climate-related Financial Disclosures (TCFD). G20 countries supported this initiative to develop a framework with recommendations for disclosures which were released on June 29, 2017 ahead of presentation to the G20 in July 2017. These are for use across all business sectors [...] Shell welcomes report on climate-related transparency. The TCFD is a global initiative chaired by Michael Bloomberg to get companies across all sectors to assess more clearly and disclose more transparently both the risks and the opportunities presented by climate change. It was set up at the prompting of the G20 and the Financial Stability Board (FSB). [shell.com]

» July 4 2017 - #EnergyPolicy #NaturalGas #Geopolitics § #Qatar plans to boost #LNG output to 100 mn tonnes a year. Qatar's LNG will rise to 100 million tonnes from 77 million tonnes per year, Qatar Petroleum's CEO Saad al-Kaabi said [gulf-times.com]

» July 3 2017 - #EnergyPolicy #Decarbonization #LowCarbonTechnologies § #IRENA Report. Accelerating the #EnergyTransition through Innovation identifies the elements of a flexible policy framework for innovation that will enable the decarbonisation of the energy sector by 2050, it also builds on and expands the analysis prepared at the request of the German G20 Presidency. Based on the current status and future needs for low-carbon technologies, thirteen distinct sectors of the energy system were assessed, spanning both power generation and the end-use sectors of energy demand. The assessment finds renewables could account for two-thirds of primary energy supply in 2050, up from just 16 per cent today. This means the growth rate of the share of renewables in total final energy consumption needs to rise seven-fold and be sustained until 2050 [irena.org]

» June 29 2017 - #EnergyPolicy #EnergySecurity #Geopolitics § Willis Towers Watson Report. 2017 #EnergyMarket Review. Energy security and supply is a major issue for all economies [...] Is change the new normal in energy markets? Economies are grappling with significant levels of change to the energy, risk management and insurance industries [...] the impacts of geo-political shifts, low oil prices, cost control pressures, workforce layouts, increasing regulation and the escalating risk of cyber attack [...] The review is divided into two sections. Part one looks at the intersection of people and risk, whether captives are still relevant to the energy industry and the dangers of high temperature hydrogen attack in refineries, petrochemical and other chemical facilities [...] Part two looks at energy risk transfer markets, including a global carrier perspective, upstream, downstream, oil insurance, onshore construction, terrorism and political violence and third party liabilities [willistowerswatson.com]

» June 29 2017 - #ClimateDiplomacy #PopulationGrowth #Urbanization #G20 § How to Advance Regional #ClimateRisk Insurances. Extreme weather events are on the rise globally, with 'developing countries' disproportionately affected. Many countries in Africa, the Caribbean and the Pacific are highly exposed to extreme weather events such as hurricanes, droughts and floods. Further, the impact of extreme weather events in these regions has been exacerbated by other trends such as population growth, urbanization, overexploitation of natural resources and environmental degradation. This disastrous development puts lives, livelihoods and development gains at risk and needs to be dealt with [climate-diplomacy.org]

» June 29 2017 - #ElectricityConsumption #OpenData § #Electricitymap, A real-time visualisation of the #GreenhouseGas (in terms of #CO2 equivalent) footprint of electricity consumption built with d3.js, optimized for Google Chrome. Try it out or download the app [electricitymap.org]

» June 28 2017 - #Energysecurity #ClimateChange § #SEI report. Five Ways to Address #FossilFuelSubsidies through the #WTO and International Trade Agreements. Can the international trade system be a catalyst for reforming fossil fuel subsidies (FFS) to help relieve the burden on the public purse, reduce local and global air pollution, improve energy security and tackle climate change? [sei-international.org]

» June 27 2017 - #ClimateFinance #EconomicGrowth § #OECD report. #Investing in #Climate, Investing in #Growth. Achieving a growth path that is resilient, inclusive and sustainable is one of the top policy priorities of our time. Governments around the world are facing the triple imperatives of re-invigorating growth while improving livelihoods and urgently tackling climate change, in line with the goals of the Paris Agreement. This report argues that boosting economic growth, improving productivity and reducing inequalities need not come at the expense of locking the world into a high-emissions future. It is the quality of growth that matters [oecd-ilibrary.org]

» June 27 2017 - #EnergyPolicy #EnergySecurity #Geopolitics § #NBR special report. #Asia: A Geopolitical Beneficiary of the New Energy Environment. In considering the impact of the new energy environment on Asia, much analysis has focused on the consequence of low energy prices and the resulting economic implications. Although these issues are important, a world in which energy is more abundant also has profound effects on how Asian countries interact with one another and with the rest of the world. There are three particular areas in which the geopolitical landscape has changed considerably in light of the new energy environment. The energy situation has (1) undermined Russia's pivot to Asia, (2) lubricated a broader Chinese foreign policy that goes well beyond the pursuit of scarce resources, and (3) tied Asia and the Middle East more closely together in ways that will require greater Asian engagement in the volatile region [nbr.org]

» June 27 2017 - #EnergyPolicy #Geopolitics § #China's Shift to #Gas. Challenges with air pollution have brought natural gas to the fore in China. Between now and 2030 China expects its gas demand to more than double [...] During the past five years China has achieved steady growth in its conventional gas production, while also building momentum in the development of unconventional gas, especially shale gas. For the period to 2020, and as embodied in its 13th five-year plan, China has set itself some quite ambitious targets to achieve [naturalgasworldmagazine.com]

» June 27 2017 - #ClimateFinance #Sustainability § #Pensions are starting to judge #HedgeFunds on ESG. asset owners are now asking hedge funds to document their policies and approaches to responsible investment issues, particularly as public pension funds from Europe to California are facing government requirements on sustainability, such as avoiding coal, or needing to quantify the carbon emissions of their portfolios [bloomberg.com]

» June 27 2017 - #GlobalWarming § #Nature #ClimateChange. Global Risk of deadly heat. Climate change can increase the risk of conditions that exceed human thermoregulatory capacity. Although numerous studies report increased mortality associated with extreme heat events1, quantifying the global risk of heat-related mortality remains challenging due to a lack of comparable data on heat-related deaths. Here we conducted a global analysis of documented lethal heat events to identify the climatic conditions associated with human death and then quantified the current and projected occurrence of such deadly climatic conditions worldwide. We reviewed papers published between 1980 and 2014, and found 783 cases of excess human mortality associated with heat from 164 cities in 36 countries. Based on the climatic conditions of those lethal heat events, we identified a global threshold beyond which daily mean surface air temperature and relative humidity become deadly. Around 30% of the world's population is currently exposed to climatic conditions exceeding this deadly threshold for at least 20 days a year. By 2100, this percentage is projected to increase to ~48% under a scenario with drastic reductions of greenhouse gas emissions and ~74% under a scenario of growing emissions. An increasing threat to human life from excess heat now seems almost inevitable, but will be greatly aggravated if greenhouse gases are not considerably reduced [nature.com]

» June 26 2017 - #GlobalWarming #ClimateChange § #NOAA Global Climate Report. May 2017 average global land an ocean temperature was the third highest for May since records began in 1880. May 2017 sea ice extent was 5.3% below the 1981-2010 average [ncdc.noaa.gov]

» June 23 2017 - #NaturalGas #Russia #EU #Geopolitics #NordStream2 § #Atlanticcouncil Brief. The Kremlin's Gas Games in Europe. An assessment of the choices facing the European Commission in regard to both Gazprom and Russia, as well as some background for the business community. In particular, the paper provides policy recommendations for US policy makers as the European Union (EU) negotiates on Gazprom's latest pipeline project, Nord Stream 2 [atlanticcouncil.org]

» June 23 2017 - #NaturalGas #ShaleGas #Russia #EU #US #Geopolitics #NordStream2 § US uses gas as political weapon. The company - the Russian-backed 55bn m3/yr Nord Stream 2 gas pipeline project - was seeing the line becoming more and more a political issue, owing to US "fear-mongering" and the non-commercial promotion of its own gas over that of Russia [...] the US Senate voted almost unanimously in favour of a bill to impose more sanctions on Russia, a major live issue being Nord Stream 2: lending close to a €1bn each to the €9 [naturalgasworld.com]

» June 23 2017 - #ClimateChange #ClimateStrategy #EnergyStrategy #ParisAgreement § #WWF report. How to build strong 2050 climate and energy development strategies. Ten elements are key to a successful 2050 climate and energy strategy. These include ambition, covering all economic and social sectors, transparency, regular upward review, public engagement and high-level political commitment. Under the Paris Agreement, all signatories must produce a 2050 emissions reduction plan. In the EU, 2050 strategies come under the Energy Union governance regulation, currently in negotiations between EU Council and Parliament [maximiser.eu]

» June 22 2017 - #ClimateChange #FossilFuels #RenewableEnergy #SustainableDevelopmentGoals #GlobalSouth #ParisAgreement § #Oxfam report. The #AIIB's #Energy opportunity: how the Asian Infrastructure Investment Bank's energy lending can chart a new path of sustainable development. The new Asian Infrastructure Investment Bank (AIIB) will be a major new funder of infrastructure in developing Asia, where demand for power is growing faster than any other region in the world. Done right, its energy lending could promote an inclusive and sustainable Asian energy transition. This report sets out a vision for an AIIB partnership with the region’s most climate-vulnerable countries. This could forge a new path of economic development and confirm a new era of Southern climate leadership [oxfam.org]

» June 22 2017 - #CarbonMarket #ETS #ClimateChange § #ICAP #MCC #RFF report. #EmissionsTrading and the Role of a Long Run #CarbonPrice Signal. The question of how emissions trading systems (ETS) can provide a carbon price signal that incentivizes cost-effective emissions abatement over the long term is key to the instrument's contribution to tackling climate change. In this paper, we discuss a framework to understand dynamic cost effectiveness under an ETS and map options to address market and regulatory imperfections in emissions trading such as myopia, excessive discounting, and a lack of political commitment might, including options as to how these imperfections can be addressed [icapcarbonaction.com]

» June 21 2017 - #ClimateChange #CarbonCycle #GreenHouseGasEmissions #SatelliteObservation § Climate, Disaster and Development Journal Article. Total Carbon Column Observing Network Philippines: Toward Quantifying Atmospheric Carbon in Southeast Asia. TCCON (Total Carbon Column Observing Network) is dedicated to the precise measurements of greenhouse gases such as CO2 and CH4. TCCON measurements are used extensively for satellite validation, for atmospheric chemistry modeling, and for carbon cycle studies. With the global effort to cap greenhouse gas emissions, TCCON has taken on a vital role in validating past, current, and future satellite missions such as Japan's Greenhouse Gases Observing Satellite (GOSAT & GOSAT-2), National Aeronautics and Space Administration's (NASA) Orbiting Carbon Observatory-2 (OCO-2 & future OCO-3), and others. However, the lack of reliable validation data for satellite-based greenhouse gas observations in the tropics is a common limitation in global carbon-cycle studies that have a tropical component. The international CO2 observation network within the tropics in order to reduce uncertainties in regional estimates of CO2 sources and sinks. A TCCON site in the tropical western Pacific is a logical next step in obtaining additional knowledge that would greatly contribute to the understanding of the Earth's atmosphere and the carbon cycle. In this study, we present an assessment of a planned site in the Philippines where a new TCCON station, the first in Southeast Asia, will be installed [cddjournal.org]

» June 20 2017 - #CarbonStocks § #FAO. #Forests and #ClimateChange Working Paper 15. From reference levels to results reporting: #REDD+ under the #UNFCCC. For well over a decade, developing countries have been encouraged to undertake activities in their forest sectors that are designed to reduce greenhouse gas emissions while also working to conserve, enhance and sustainably manage forest carbon stocks. These activities are known collectively as Reducing Emissions from Deforestation and Forest Degradation in Developing Countries (REDD+), which was established under the United Nations Framework Convention on Climate Change (UNFCCC). This publication provides a status report on progress and achievements related to the MRV of REDD+ activities, as well as an update on activities related to countries’ submissions of their Forest Reference (Emission) Levels (FRELs/FRLs). The report also summarizes experiences with the technical assessment process, as of early 2017, and offers an overview of initial REDD+ results reporting and technical analyses of those reports. Highlights of this report include measures that show a strong uptake of FREL/FRLs among tropical forest countries. FREL/FRLs which have already been submitted involve many of the countries with the largest forest areas, and cover vast amounts of emissions from their forest sectors. There is also progress in areas that are not as easy to quantify: for example, an unprecedented level of transparency has been achieved concerning countries’ forest-sector data and information, thanks to data reporting in the context of REDD+ [fao.org]

» June 20 2017 - #CarbonMarket #EU #France #Germany § #BNEF. Seeking Stiff Carbon Costs to Avert #ClimateChange. Macron wants to revive a plan to set up a minimum price of 30 euros ($33.55) per ton of CO2 emissions, about six times the current European level, a French official said, asking not to be named as the matter isn't yet public. France is seeking to convince Germany and other European countries to adopt a similar plan, the person said. It would also make sense for countries such as Belgium, the Netherlands and Luxembourg, said another person who has heard about Macron's initiative [bnef.com]

» June 20 2017 - #Oil #Iraq #SaudiArabia #India #Geopolitics § #Bloomberg. Iraq Is New Oil King, Beats Saudis in Fastest Growing Market. Iraq is gaining the edge over Saudi Arabia in the world's fastest-growing oil consumer amid an intensifying race among producers to retain their most-prized markets. Iraq was the top crude supplier to India for a third month in May, shipping 1 million barrels a day [...] Iraqi supplies accounted for 23 percent of India's purchases last month, up from an average 19 percent in the previous four months, while Saudi Arabia's share fell by 1 percentage point to 17 percent [bloomberg.com]

» June 19 2017 - #ClimateFinance #ClimateChange § #IGES PolicyBrief. Strengthening the Integration of #ClimateRisks in the #BankingSector. Banks face major losses unless climate risks are properly assessed and addressed. This policy brief makes recommendations to strengthen the integration of climate risks into banks' risk management and financial accounting so the banking sector can be more financially sustainable. [iges.or.jp]

» June 16 2017 - #EnergyPolicy #EnergyOutlook #RETechnologies #PowerSector § #BNEF Report. New Energy Outlook 2017. NEO the annual long-term economic forecast of the world's power sector. Renewable energy sources are set to represent almost three quarters of the $10.2 trillion the world will invest in new power generating technology until 2040, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including electric vehicle batteries, in balancing supply and demand [...] Focused on the electricity system, NEO combines the expertise of over 80 market and technology specialists in 12 countries to provide a unique view of how the market will evolve [bnef.com]

» June 16 2017 - #ClimateChange #LandDegradationNeutrality #SDGs #NonLinearDynamics § #Researchgate pubblication. Learning from non-linear ecosystem dynamics is vital for achieving land degradation neutrality (Open Access). Land Degradation Neutrality is one of the Sustainable Development Goal targets, requiring on-going degradation to be balanced by restoration and sustainable land management. However, restoration and efforts to prevent degradation have often failed to deliver expected benefits, despite enormous investments. Better acknowledging the close relationships between climate, land management and non-linear ecosystem dynamics can help restoration activities to meet their intended goals, while supporting climate change adaptation and mitigation. This paper is the first to link ecological theory of non-linear ecosystem dynamics to Land Degradation Neutrality offering essential insights into appropriate timings, climate-induced windows of opportunities and risks, and the financial viability of investments. These novel insights are pre-requisites for meaningful operationalisation and monitoring of progress towards Land Degradation Neutrality [researchgate.net]

» June 16 2017 - #EnergyPolicy #RenewableEnergy #RETechnologies § #IEA Report. Commercial Readiness Index (#CRI) assessment - using the method as a tool in renewable energy policy design. The report assesses the commercial maturity of renewable energy technologies (RETs) using the novel Commercial Readiness Index (CRI) framework, developed by the Australian Renewable Energy Agency (ARENA), to identify appropriate policy approaches for stimulating RET deployment. In a study commissioned to the Carbon Trust, RE-CRI explores the use of the CRI framework through case studies: solar photovoltaics (PV) in Germany and offshore wind in the UK. The study finds that the indicators assessed through the CRI help to prompt policy makers to consider a range of barriers faced by RETs - from regulatory, to financial, to supply chain and more. It can be used to show which historical policies were effective, or not, at addressing these commercialisation barriers. However, the CRI as a stand-alone tool has limitations if it is used to support future policy making. The study also proposes some modifications to the CRI which build on the existing framework to make it more useful and applicable for policy makers looking to scale-up renewable energy technologies. [iea-retd.org]

» June 14 2017 - #Energy § #BP #StatisticalReview of #WorldEnergy 2017. Energy developments. #GlobalPrimaryEnergy consumption increased by just 1% in 2016, following growth of 0.9% in 2015 and 1% in 2014. This compares with the 10-year average of 1.8% a year. As was the case in 2015, growth was below average in all regions except Europe & Eurasia. All fuels except oil and nuclear power grew at below-average rates. Energy consumption in China grew by just 1.3% in 2016. Growth during 2015 and 2016 was the lowest over a two-year period since 1997-98. Despite this, China remained the world's largest growth market for energy for a 16th consecutive year. #CarbonEmissions. Emissions of CO2 from energy consumption increased by only 0.1% in 2016. During 2014-16, average emissions growth has been the lowest over any three-year period since 1981-83. #Oil. The Dated Brent oil price averaged $43.73 per barrel in 2016, down from $52.39 per barrel in 2015 and its lowest (nominal) annual level since 2004. Oil remained the world's leading fuel, accounting for a third of global energy consumption. Oil gained global market share for the second year in a row, following 15 years of declines from 1999 to 2014. Global oil consumption growth averaged 1.6 million barrels per day (Mb/d), or 1.6%, above its 10-year average (1.2%) for the second successive year. China (400,000 b/d) and India (330,000 b/d) provided the largest increments. Global oil production in contrast, rose by only 0.4 Mb/d, the slowest growth since 2013. Production in the Middle East rose by 1.7 Mb/d, driven by growth in Iran (700,000 b/d) Iraq (400,000 b/d) and Saudi Arabia (400,000 b/d). Production outside the Middle East fell by 1.3 Mb/d, with the largest declines in the US (-400,000 b/d), China (-310,000 b/d) and Nigeria (-280,000 b/d). Refinery throughput growth slowed from 1.8 Mb/d in 2015 to 0.6 Mb/d last year. Refining capacity grew by only 440,000 b/d, versus 10-year average growth of 1 Mb/d, causing refinery utilization to rise. #NaturalGas. World natural gas consumption grew by 63 billion cubic metres (bcm) or 1.5%, slower than the 10-year average of 2.3%. EU gas consumption rose sharply by 30 bcm, or 7.1% - the fastest growth since 2010. Russia saw the largest drop in consumption of any country (-12 bcm). Global natural gas production increased by only 21 bcm, or 0.3%. Declining production in North America (-21 bcm) partially offset strong growth from Australia (19 bcm) and Iran (13 bcm). Gas trade grew by 4.8%, helped by 6.2% growth in LNG imports/exports. Most of the net growth in LNG exports came from Australia (19 bcm out of 21). US LNG exports rose from 0.7 bcm in 2015 to 4.4 bcm in 2016. #Coal. Global coal consumption fell by 53 million tonnes of oil equivalent (mtoe), or 1.7%, the second successive annual decline. The largest declines in coal consumption were seen in the US (-33 mtoe, an 8.8% fall) and China (-26 mtoe, -1.6%). Coal consumption in the UK more than halved (down 52.5%, or 12 mtoe) to its lowest level in our records. Coal's share of global primary energy consumption fell to 28.1%, the lowest share since 2004. World coal production fell by 6.2%, or 231 mtoe, the largest decline on record. China's production fell by 7.9% or 140 mtoe, also a record decline. US production fell by 19% or 85 mtoe. #Renewables, #hydro and #NuclearEnergy. Renewable power (excluding hydro) grew by 14.1% in 2016, below the 10-year average, but the largest increment on record (53 mtoe). Wind provided more than half of renewables growth, while solar energy contributed almost a third despite accounting for only 18% of the total. Asia Pacific overtook Europe & Eurasia as the largest producing region of renewable power. China overtook the US to be the largest single renewables producer. Global nuclear power generation increased by 1.3% in 2016, or 9.3 mtoe. China accounted for all of the net growth, expanding by 24.5%. China's increment (9.6 mtoe) was the largest of any country since 2004. Hydroelectric power generation rose by 2.8% in 2016, (27.1 mtoe). China (10.9 mtoe) and the US (3.5 mtoe) provided the largest increments. Venezuela experienced the largest decline (-3.2 mtoe) [bp.com]

» June 14 2017 - #EnergyPolicy #NaturalGas #LowCarbonEconomy § #Eni. Gas is the best possible partner for renewables in the transition to a low carbon future: from an environmental point of view, gas-fired power plants are more efficient and produce about half the CO2 emissions of coal-fired power stations (currently the main source used for the generation of electricity) per kWh of electricity generated; in terms of costs, gas is also a highly competitive resource, as well as being reliable and safe. It is therefore the best source of energy to power the electricity sector and offers significant flexibility [...] Eni aims to maintain a portfolio of low carbon assets, promoting the use of natural gas as the best fossilfuel to act as a bridge both for the generation of electrical energy, and fortransport. 58% of Eni's existing projects are gas-based, and future developments in Mozambique, Egypt and Indonesia confirm the company's commitment in this direction [eniday.com]

» June 13 2017 - #ClimateFinance § #G7 Throws Weight Behind #SustainableFinance Movement. Sustainable finance is a rapidly accelerating global movement. Countries from China to France and the UK have launched initiatives to boost flows of private capital for climate and sustainability. The G20 has set up a green finance study group. The value of investment assets committed to the Principles for Responsible Investment is now over US$73 trillion. Meanwhile, the green bond market almost doubled to more than US$80 billion in 2016, and is expected to increase to US$150 billion in 2017. However, despite this impressive growth, green bonds still represent less than 1 per cent of global bond issuance, point to the need for further action. UN Environment's Inquiry into the Design of a Sustainable Financial System is a prominent champion of the movement, which seeks to unlock the finance needed to deliver on the goals of the 2030 Agenda for Sustainable Development and the Paris Agreement. The Inquiry has supported Italy's G7 presidency over the last year as it explored the potential of sustainable finance [...] two reports, commissioned by Italy for the G7 and written by the Inquiry, were presented at the meeting. The reports, the findings of which were endorsed in the final communique, outline strategies to ensure SMEs and financial centres are part of the sustainability solution. [...] SMEs are particularly important in Italy. The Italian economy is dominated by nearly four million SMEs, which make up 95 per cent of all companies. The big task is to improve access to tailored financial services, both for SMEs wishing to improve their sustainability performance and those providing goods and services for the growing green economy (such as clean-tech pioneers). UN Environment's first report, Mobilizing Sustainable Finance for SMEs, outlined practical ways of making progress. For example, public finance institutions such as France's BPI are offering low-interest loans to SMEs to improve energy efficiency. Canada's BDC has launched venture capital funds for clean-tech innovators. In the US, state-level green banks are crowding in private capital in California, Connecticut, Hawaii, New Jersey, New York and Rhode Island. In Germany, the GLS Bank has led a financing partnership for green entrepreneurs. The Borsa Italiana is promoting green "mini-bonds", which enable small businesses to raise capital from investors. Innovations in financial technology can also help through crowdfunding for the green economy, for example, by UK investment firm, Abundance. The Inquiry's Financial Centres for Sustainability report found that the G7 and other countries could encourage their financial centres to develop strategies that scale up green and sustainable finance - including through international cooperation that would create "a race to the top" [unepinquiry.org]

» June 13 2017 - #Oil § #Eia. Reporting #OilCompanies proved reserves in 2016 decline for second consecutive year. Annual reports of 68 publicly traded oil companies indicated that their aggregate proved liquids reserves declined in 2016 for the second consecutive year. The decline in proved reserves was heavily concentrated in a few companies that reduced their estimated reserves from Canadian oil sands projects. Downward revisions of existing resources, relatively low extensions and discoveries, and relatively high production also contributed to a decline in proved reserves. The 68 oil companies included in this analysis are listed on U.S. stock exchanges and consequently are required to report their proved reserves annually to the U.S. Securities and Exchange Commission (SEC). Collectively, their global crude oil and other liquids production averaged 24 million barrels per day (b/d) during 2016, or about 25% of the global total. Proved reserves are the estimated quantities of oil that, with reasonable certainty, are recoverable under existing economic and operating conditions. These company estimates are based on available geologic and engineering data, which change as technology develops. Price changes and other economic factors can have a significant effect on the economic viability of oil projects, and some companies specifically cited low crude oil prices in 2016 as a reason to revise their proved reserves base downward. Extensions (more resources at existing fields) and discoveries (resources at new fields) represent newly found quantities of oil and totaled 4.9 billion barrels across the 68 companies in 2016. Following the crude oil price decline beginning in mid-2014, companies significantly reduced capital expenditures, especially in their exploration and development budgets. Instead, they focused on extracting additional oil from reserves developed in previous years. Additions from extensions and discoveries and net purchases of reserves from companies not included in this analysis were offset by large negative revisions to company assessments of existing reserves. Reserves also declined as these companies collectively extracted 8.9 billion barrels of liquids in 2016. The combined effect of these changes and other factors was a net reduction of 8.2 billion barrels in proved reserves [eia.gov]

» June 13 2017 - #EnergyPolicy #Oil #Gas #Coal #Renewables § #Statoil outlook. EnergyPerspectives 2017. Average global economic growth ranges from 1.9% to 2.6% per year, with global GDP in 2050 at between 1.9 and 2.6 times that of the level in 2014. Improvements in energy efficiency are larger than the progress that was achieved between 1990 and 2014 in all scenarios, but vary significantly, resulting in total primary energy demand in 2050 being 6% lower (Renewal), 25% higher (Reform) or 30% higher (Rivalry) than in 2014. The challenge in Renewal is particularly daunting: Global GDP is 170% higher in 2050 than today, but demand for energy is 10% lower. The future global energy mix also varies significantly: Oil demand in 2050 varies between 63 and 123 million barrels per day, reflecting annual average growth rates between -1.1% and 0.8%, respectively. Gas demand in 2050 varies between 2,900 and 4,550 billion cubic metres (bcm), compared to 3,385 bcm in 2014. There is significant need for new investments in both oil and gas in all scenarios, since production from existing reserves cannot keep up with demand development. Coal demand is the most important key to global CO2 emission levels in our scenarios - average annual growth rates vary between -3.1% and 0.4%, resulting in coal demand in 2050 between 30% and 110% of the 2014 level. New renewable sources of electricity, in particular solar and wind, will grow significantly in importance, delivering between 8 and 18 times more electricity in 2050 than in 2014. Global energy-related CO2 emissions in 2050 vary enormously, between 13.5 and 39.5 billion tons, or 42-123% of the emission level in 2014 [statoil.com]

» June 13 2017 - #EnergyPolicy § #BBC News. #Renewables provide more than half #UK electricity for first time. National Grid reported that, on 7 june lunchtime, power from wind, solar, hydro and wood pellet burning supplied 50.7% of UK energy. Add in nuclear, and by 2pm low carbon sources were producing 72.1% of electricity in Great Britain [bbc.com]

» June 13 2017 - #ClimateChange #ClimatePolicy § #ClimateDiplomacy Report. Climate and #Conflict: Reviewing the Statistical Evidence. This is all the more serious as quantitative evidence dominates current discussions on the security implications of climate change and therefore has a major bearing on policy-making. In response to this problem, this report provides a brief overview of the quantitative literature on climate and conflict, discusses its main findings and draws key lessons for policymakers. Intended as a short guide for non-expert readers, it helps navigate ongoing debates and make sense of seemingly contradictory statements in current research. Moreover, readers are made aware of major methodological issues and provided with approaches to better assess the true scientific contribution of quantitative climate-conflict analyses [adelphi.de]

» June 12 2017 - #ClimateFinance § #BNEF #CleanEnergy Investment Gains Overshadow Paris Exit. Despite lengthy #UnitedNations climate negotiations over the past decade, investment in clean energy has rapidly increased - so much so that it's not clear whether the UN framework has had any meaningful effect on policy [...] The main drivers of growth in the area have been technology cost declines and domestic policies to support renewables and price carbon. National and sub-national programs that foster clean energy are expected to continue regardless of global goals and the U.S.'s withdrawal from the Paris Agreemen [bloomberg.com]

» June 12 2017 - #ClimateFinance § #BNEF Green Muni Sales to Rise as U.S. Set for #ParisPactExit. U.S. municipalities are expected to ramp up issuance of green bonds even as President Donald Trump plans to exit the Paris agreement on global warming, according to the Climate Bonds Initiative [...] U.S. municipalities issued $1.8 billion of green bonds in May and will likely sell more than $10 billion this year, higher than the $6.8 billion issued in 2016, according to a Bloomberg New Energy Finance report dated June 2. For the global green bond market, total issuance this year to date is $45 billion, which equates to an annualized volume of $111 billion across 2017 [bloomberg.com]

» June 12 2017 - #Energy #Environment #EU #MultiCriteriaDecisionAnalysis #Sustainability § Renewable and Sustainable Energy Reviews Paper. A comparison of environmental and energetic performance of European countries: A sustainability index. European countries agreed on a new 2030-pact establishing challenging levels for a set of climate and energy indexes in order to achieve a more competitive, safe and sustainable energy system. In order to evaluate current sustainability performances of European countries from the environmental and energetic perspectives, this research proposes a Multi-Criteria Decision Analysis (MCDA) that, starting from both Eurostat data and the Analytic Hierarchy Process (AHP), allows a direct comparison of nations. To this aim, multiple indexes are taken into account (e.g. Greenhouse gas (GHG) emissions, Government expenditures for environmental protection, Recycled and reused waste from electric and electronic equipments (WEEEs), Recycled and reused waste from end-of-life vehicles (ELVs), Recycled materials from Municipal Solid Wastes (MSWs), Share of renewable energy (RE) in electricity, Share of RE in transport, Share of RE in heating and cooling and Primary energy consumption). This assessment model provides a sustainability value for each European country and the related ranking with the European average. Results show as, even nowadays, twelve out of twenty-eight European countries have a value greater than the European average in 2013. Top four nations (Sweden, Denmark, Finland and Austria) have high indexes of sustainability and Sweden is the best country from both the environmental and energetic perspectives [sciencedirect.com]

» June 9 2017 - #Oil #Geopolitics § #OPEC production cuts have been working--at least as far as OPEC revenues are concerned. #IEA estimates the cartel has been earning an extra $75 million per day compared to the previous year despite cutting production from 33.3 million barrels per day to 31.9 million barrels per day currently [oilprice.com]

» June 9 2017 - #RenewableEnergy #ClimatePolicy #EnergyTransition § #REN21 (#RenewableEnergyPolicy Network for the 21st Century) Report. RENEWABLES 2017 - GLOBAL STATUS REPORT. The 2017 Edition of the REN21 Renewables Global Status Report reveals a global energy transition well underway, with record new additions of installed renewable energy capacity, rapidly falling costs, and the decoupling of economic growth and energy-related carbon dioxide (CO2) emissions. This year's report continues REN21's long-standing tradition of providing the most up-to-date data and informative infographics to detail renewable energy's contribution to the energy transition [ren21.net]

» June 8 2017 - #Geopolitics #ClimatePolicy #ClimateChange § #CIGI Report. The #G20 and Building #GlobalGovernance for #ClimateRefugees. Governance reform is needed to strengthen rights and obligations of peoples and governments in countries of origin, transit and destination, recognizing the special circumstances and needs of "climate refugees" or migrants. [cigionline.org]

» June 8 2017 - #CleanTechnology #EnergyTransition #EV #CarbonMarket § #China, #California strengthen #CleanEnergy ties after U.S. Paris pullout. California is looking to expand cooperation with China in clean energy, especially in the fields of battery technology and zero-emission vehicles [...] California will work with Chinese government officials and businesses to reach its goal of reducing greenhouse gas emissions to 40 percent below 1990 levels [xinhuanet.com]

» June 7 2017 - #EnergyTransition #EV § #IEA Report. Global EV Outlook. #ElectricVehicles have another record year, reaching 2 million cars in 2016. Electric vehicles have another record year, reaching 2 million cars in 2016. China was the largest EV market in 2016, accounting for more than 40% of new sales globally. The number of electric cars on the roads around the world rose to 2 million in 2016, following a year of strong growth in 2015, according to the latest edition of the International Energy Agency's Global EV Outlook. China remained the largest market in 2016, accounting for more than 40% of the electric cars sold in the world. With more than 200 million electric two-wheelers and more than 300,000 electric buses, China is by far the global leader in the electrification of transport. China, the US and Europe made up the three main markets, totalling over 90% of all EVs sold around the world. Electric car deployment in some markets is swift. In Norway, electric cars had a 29% market share last year, the highest globally, followed by the Netherlands with 6.4%, and Sweden with 3.4%. The electric car market is set to transition from early deployment to mass market adoption over the next decade or so. Between 9 and 20 million electric car could be deployed by 2020, and between 40 and 70 million by 2025, according to estimates based on recent statement from carmakers [iea.org]

» June 7 2017 - #ClimateFinance § Scaling Citizen Action on Climate - ANT Financial's Efforts Towards a Digital Finance Solution. This report shows that almost half of Ant Financial Services Group's 450 million users signed up to Ant Forest, an app that gamifies carbon footprint tracking - cutting greenhouse gas emissions and demonstrating the massive potential of Fintech (financial technology) for supporting sustainable development. By the end of January 2017, the approach had avoided 150,000 tonnes of carbon dioxide emissions, thanks to the accumulation of small behavior changes, with much more to come. In addition, over 1 million trees have been planted in the Inner Mongolia desert as part of the scheme [greendigitalfinance.org]

» June 6 2017 - #Overfishing #Biodiversity #Pollution § #HeinrichBoell Report. #Ocean Atlas: Understanding the threats to our #MarineEcosystems. Without the ocean there would be no life on our planet. But the future of this unique ecosystem faces a grave threat today. The Ocean Atlas 2017 delivers with its 18 contributions and 50 graphics the relevant facts and figures about the ocean [www.boell.de]

» June 6 2017 - #ClimateChange #LowCarbonEconomy § The #US has ditched the #ParisClimateAgreement - what does this mean for the rest of the world? By not meeting the promises made by predecessors Barack Obama or George W Bush, the US is kicking off a chain of significant consequences. The major concern, highlighted by US scientists, is that if the US does not meet their commitments to curb emissions of greenhouse gases the worst case scenario is "3 billion tonnes of additional carbon dioxide in the air a year". The inconvenient truth about this fact is that it is not just the poorest nations who will be impacted by this - such is the nature of "global" warming - there will be effects at home, too. The National Oceanic and Atmospheric Administration predict "sea levels will rise as much as three feet in Miami by 2060. By the end of the century ... some 934,000 existing Florida properties, worth more than $400 billion, are at risk of being submerged." Ironically, this could include his Mar-a-Lago resort. The fortunate truth is that the US doesn't need the Paris Agreement to reduce its emissions. Many states and cities are independently setting a low carbon trajectory and many businesses are already seeing cost benefits from reducing their energy use and switching to renewables - but the lack of international accountability at the Federal level will be a thorn in the side of the global climate political process. Those nations already experiencing climate change impacts have every right to feel morally let down [weforum.org]

» June 5 2017 - #FossilFuels #RenewableEnergy § #Denmark's largest #Power producer, #DongEnergy, agreed to sell its complete upstream oil and gas interests to global petrochemical manufacturer Ineos for $1.05 billion plus contingent payments, concluding an effort announced in October [greentechmedia.com]

» June 5 2017 - #OilMarkets #Geopolitics § More Bad News for #OPEC: 2018 Doesn't Look Great. #Oilfutures have lost 8 percent since the Organization of Petroleum Exporting Countries and its allies agreed on May 25 to keep output constrained through the first quarter of 2018 in a bid to clear a global glut. While Goldman Sachs Group Inc. expects their strategy to ultimately succeed, they warn the surplus may re-appear once the curbs end. Morgan Stanley and JPMorgan Chase & Co. say the group will have little choice but to stick with the cuts even longer. Resurgent supplies from U.S. shale drillers and fading growth in fuel demand mean that world oil markets could face another overhang next year, the banks predict. That means Saudi Arabia and Russia, the two biggest producers in the 24-nation coalition, may need to deliver on their promise to do =whatever it takes" to restore equilibrium [bloomberg.com]

» June 5 2017 - #LowCarbonEconomy #RenewableEnergy § Things are changing-right at the heart of the #Oil world. #SaudiArabia and the #UAE, both core Opec members, have earmarked $50bn and $163bn for spending on greener energy by 2023 and 2050, respectively. The eco-friendly tone of #Gulf governments' new national visions means state-owned entities-Saudi #Aramco, Abu Dhabi National Oil Company (#Adnoc), Emirates National Oil Company (#Enoc), Qatar Petroleum and Kuwait Petroleum Corporation (#KPC), to name some-must do as their masters wish. A greening of the Gulf is underway [petroleum-economist.com]

» June 5 2017 - #CarbonMarkets #ClimateFinance #LowCarbonEconomy § Forest Trends' Ecosystem Marketplace Report. Unlocking Potential. As of 2016, offsets equivalent to 1.1 billion metric tonnes of carbon dioxide emissions (BtCO2e) have been transacted voluntarily - through sales to governments, companies, and individuals as well as intermediary brokers - according to the latest annual State of Voluntary Carbon Markets report from Forest Trends' Ecosystem Marketplace [...] the new report finds that voluntary buyers in 2016 paid $191.3 million (M) to offset 63.4 million metric tonnes of CO2 (MtCO2e). Concerned citizens, corporations, and sub-national governments moved ahead with their battle against climate change by purchasing voluntary carbon offsets from projects that reduce emissions through forest protection, renewable energy, and other means. Still, transaction volumes on the voluntary markets shrank 24% from 2015 to 2016, and demand did not meet supply of these offsets, as 56.2 MtCO2e were left unsold in project developer's portfolios - some from previous years [forest-trends.org]

» June 5 2017 - #Geopolitics #Vatican #US § Why Trump and Francis Diverge on #SaudiArabia [...] In the end, though, the framing might have been a problem. Indeed, it perturbed the Vatican last week that Trump was so triumphalist in Saudi Arabia, one of the few countries to have no diplomatic relations with the Holy See. From the Kingdom's treatment of Christians living within its borders, to its international export of intolerance, to the devastation wrought by its war in Yemen, Francis and the Vatican take a much more critical line toward Saudi Arabia than does the Trump administration [foreignaffairs.com]

» June 5 2017 - #Geopolitics § #SaudiArabia, the #UnitedArabEmirates, #Egypt and #Bahrain say they are severing diplomatic relations with #Qatar. The Saudi kingdom made the announcement via its state-run Saudi Press Agency early on Monday, saying it was taking action for what it called the protection of national security. The news agency released a statement in which it accused Qatar of "harbouring a multitude of terrorist and sectarian groups that aim to create instability in the region". The three Gulf states gave Qatari visitors and residents two weeks to leave their countries, Reuters news agency reported. Saudi also closed the border and halted air and sea traffic with Qatar, urging "all brotherly countries and companies to do the same" [...] Qatar's foreign ministry said it regretted the measures by the Arab nations, calling the decisions "unjustified" [aljazeera.com]

» June 5 2017 - #NaturalGas #Geopolitics § #Qatar prepares to boost #LNG export capacity. #Japan's Chiyoda Corporation said May 31 it signed an agreement in Doha with Qatar Petroleum (QP) to conduct a detailed study to identify changes required to debottleneck the country's liquefaction trains "in order to process additional quantities of gas that will be produced from the planned North Field gas project." #QP announced April 3 its intention to develop a new 2bn ft3/d gas project in the southern section of the giant North Field for export [naturalgasworld.com]

» June 5 2017 - #ClimateChange #ClimatePolicy #Geopolitics #US § Noam #Chomsky: #Neoliberalism Is Destroying Our #Democracy. How elites on both sides of the political spectrum have undermined our social, political, and environmental commons [thenation.com]

» June 1 2017 - #ClimateChange #ClimatePolicy #US § #Exxon shareholders approve measure on #ClimateChange report. Exxon Mobil shareholders approved a proposal calling for the oil company to disclose the impact on its business of compliance with global climate change guidelines, an issue at the heart of a probe by two state attorneys general [cnbc.com]

» May 31 2017 - #ClimateChange #ClimatePolicy #US § U.S. withdraws from the #ParisClimateAccord. Details on how the withdrawal will be executed are being worked out by a small team including EPA Administrator Scott Pruitt. They're deciding on whether to initiate a full, formal withdrawal - which could take 3 years - or exit the underlying United Nations climate change treaty, which would be faster but more extreme [axios.com]

» May 31 2017 - #Oil #Markets #Geopolitics #Opec #Russia #US § #Bloomberg. Now that the OPEC meeting is over, the market's attention will quickly turn to rising demand. And there are two competing demand factors at our doorstep: the U.S. summer driving season and the trend of global oil demand growth [bloomberg.com]

» May 30 2017 - #EnergyTransition #Geopolitics § #Lovins Analysis. #CleanEnergy and #RareEarths: Why not to worry [...] Rare earths do merit measured expert attention, as with any special ingredient in important processes and products-cobalt or gallium, indium or phosphorus. But rare earths are very unlikely to shift the world's strategic balance or create resource crises, as many investment enthusiasts breathlessly claimed in 2010, months before losing their shirts. Just as Saudi Arabia's rulers are discovering that they cannot control world oil markets, and Russia's President Putin may be starting to realize that his struggling economy's hydrocarbons don't confer the decisive geopolitical advantage he'd hoped, Chinese policy makers have doubtless learned, perhaps better than some of their customers, that rare earths are simply another commodity-unusual, significant, but unable to transcend the realities of economics, innovation, and trade [thebulletin.org]

» May 30 2017 - #LowCarbonEconomy § #IRENA Report. #RenewableEnergy and #Jobs - Annual Review 2017, the latest employment figures of the renewable energy sector [...] the state of employment in the renewable energy sector [...] finds that in 2016, 9.8 million people had renewable energy jobs. The report shows that solar photovoltaic (PV) was the largest employer in 2016, with 3.1 million jobs - up 12% from 2015 - mainly in China, the United States and India. In the United States, jobs in the solar industry increased 17 times faster than the overall economy, growing 24.5% from the previous year to over 260,000. New wind installations contributed to a 7% increase in global wind employment, raising it up to 1.2 million jobs. Brazil, China, the United States and India also proved to be key bioenergy job markets, with biofuels accounting for 1.7 million jobs, biomass 0.7 million, and biogas 0.3 million [irena.org]

» May 30 2017 - #EnergyTransition #Oil #Geopolitics #Vision2030 #LowCarbonEconomy § How #SaudiArabia can become a #PostOilEconomy. Saudi Arabia has achieved much of its past economic success on the back of endowments of natural resources, particularly oil and gas. Saudi Arabia's Vision 2030 reflects a clear recognition that this foundation of the economy is too narrow, particularly as the population grows and domestic energy demand increases. It lays out a clear mission to transform the economy to make it more diverse, innovative and competitive - allowing the necessary policy actions to develop [...] Global energy markets are evolving rapidly in ways that have huge implications for the Kingdom. A transition to a lower carbon economy among many of Saudi Arabia’s key customers for its crude oil and products is being driven by international climate commitments under the Paris accord. Electricity is currently the main focus of this transition – more a threat to coal and natural gas than to oil in the short term. But the link to oil will likely come from the electrification of mobility, particularly as automated, shared mobility on demand moves from disrupting taxis to the mainstream of transport services consumption [weforum.org]

» May 26 2017 - #EnergyTransition #LowCarbonEconomy #SmartGrid #NewYork § Grid watch. At the end of 2016, the Norwegian state-owned oil company Statoil put in a record bid for the rights to build a U.S. offshore wind farm off the coast of New York at $42 million (U.S.). A few months later, New York announced a $2,000 rebate for zero-emissions and plug-in electric vehicles. Shortly after the EV announcement, Syracuse, in upstate New York, was one of 11 winners that received $1 million from the state to plan a community microgrid that will encompass first responders, schools, homes, businesses and a nursing home. These three news snippets may seem to have little in common except they all came from the Empire State. But in New York, the connection is broader and stronger. From huge renewable infrastructure projects to rethinking how consumers use energy at every level, New York is in the midst of arguably the most proactive and comprehensive electric system overhaul happening anywhere in the U.S. New York does not have the proliferation of distributed solar PV of California or Hawaii, so energy reform does not have to be reactionary. New York is also not Germany, where some traditional power generators have been pushed to the brink of financial ruin as clean energy receives preference over fossil fuels. New York, however, is grappling with the same issues unfolding across the globe: a power grid not built for two-way power flows, a grid that is getting more expensive to maintain and a grid that cannot quickly adopt new technology [corporateknights.com]

» May 26 2017 - #NaturalGas #BalkanCountries § #EU agency, Eustream signed Grant Agreement on #Eastring feasibility study. European Union's Innovation and Networks Executive Agency (INEA) and Eustream signed Agreement allowing Slovak TSO to receive EU grant for the feasibility study needed for the planned Eastring pipeline project. Feasibility study will be funded under the Connecting Europe Facility (CEF) with the sum up to one million eur, or 50 percent of the eligible costs [...] Eastring is an alternative to South Stream fully compliant with all EU rules and their spirit, a project with unrestricted access for third parties. Eastring secures natural gas supply for 100 percent of all Balkan countries' consumption. Eastring provides western shippers with possibility to supply Balkan countries and even Turkey from European hubs (NCG, Gaspool, Baumgarten, TTF). Eastring is a new pipeline corridor ready for future gas imports to Europe from well-established and also alternative sources - the Black Sea area, the Caspian region, the Middle East, potential Turkish hub, etc. Eastring allows additional utilization for existing transit and storage assets in Central and Eastern Europe (CZ, SK, PL, UA, RO, BG) [eastring.eu]

» May 26 2017 - #ClimateEconomics #LowCarbonEconomy § #WorldBank, Carbon Pricing Leadership Coalition (#CPLC). #CarbonPricing Policy [Focus on] Canada's national effort to institute a $50/ton carbon price floor as a central element of Canada's strategy to move its fossil fuel-based economy to a more productive, cleaner path. Cote d'Ivoire Prime Minister Amadou Gon Coulibaly explained how-as a developing economy-the country is exploring carbon pricing as a way to address poverty while achieving their climate targets. Colombian Finance Minister Mauricio Cardenas highlighted the launch of a new carbon tax whose revenues will be used to finance the country's ongoing peace process. This momentum is strengthened by other countries like China which will launch a national Emissions Trading Systems later this year and Singapore, which recently announced a carbon tax that will be implemented from 2019. The private sector also made leadership commitments. Global banks-including HSBC, BNP Paribas and Turkey's Garanti Bank announced their intention to use the CPLC to explore how to address climate risk in their portfolios through internal carbon pricing. The world's biggest cement company LafargeHolcim announced a new effort to look at pricing throughout the construction value chain. This builds from the leadership already seen from other corporations like Mahindra Group and Infosys to use internal carbon pricing. Brazilian corporate leaders, CPFL and Braskem, explained the voluntary simulation of a cap-and-trade system of over 20 major Brazilian companies, underway for the past two years. They were joined by leading investors MN Pension Fund of the Netherlands and the New York State Comptroller's Office, which is increasingly concerned about the climate risk exposure of the companies they invest in. Carbon pricing is a key tool to measure and manage that risk. Finally, there was talk of building a carbon-pricing network from the bottom up. Inspired by successful systems in the European Union, the RGGI initiative in the Northeast US, and the example shown by California, Quebec and Ontario, we are now witnessing a surge in the momentum to converge carbon-pricing systems [worldbank.org]

» May 26 2017 - #ClimateFinance #Repsol § First #GreenBonds Sold by an #OilGiant Find Willing Investors. A major oil company is set to benefit from the sale of green bonds for the first time, raising concerns about standards in the quick-growing market for environmentally-friendly finance. The Spanish refiner Repsol SA on Tuesday is due to complete the issue of a five-year 500 million-euro ($559 million) green bond, which was priced on May 9. While the funds will help Repsol cut greenhouse-gas emissions and make its facilities more efficient, some specialists in the market aren't convinced Repsol's security deserves the green label [bloomberg.com]

» May 26 2017 - #EnergyEconomics #EnergyTransition § #BP #Outlook 2017. The Energy Outlook considers a base case, outlining the 'most likely' path for global energy markets over the next 20 years based on assumptions and judgements about future changes in policy, technology and the economy. It examines some of the key questions and issues posed by the energy transition, and develops a number of alternative cases to explore key uncertainties [...] Key issues: Impact of electric cars on oil demand; Oil supplies in a world of increasing abundance; Implications of the growth of LNG for global gas market; China's changing energy landscape [...] A faster mobility revolution; Alternative pathways to a lower carbon world; Risks to gas demand [...] Beyond 2035: When will global oil demand peak? What role will Africa play in driving energy demand? Will power dominate global energy demand growth? [bp.com]

» May 26 2017 - #Oil #OilMarket #Geopolitics #Opec § #NYT, The Organization of the Petroleum Exporting Countries extended oil production cuts through March 2018, after a meeting in Vienna on Thursday [...] A sense of deja vu pervaded the latest meeting of oil exporting countries. While production cuts have again bolstered oil prices, the optimism may fade, as shale producers in the United States jump back into the market and the rise of renewables dims prospects for demand [nytimes.com]

» May 26 2017 - #Coal § #WorldCoal, Propelling ASEAN towards #CleanCoalTechnology. Coal, the most abundant and reliable energy resource, will continue to be the dominant energy source in power generation to meet the fast-growing electricity demand in the emerging economies of the Association of Southeast Asian Nations (ASEAN). Between 2015 and 2040, the share of coal in power generation is expected to increase from 32% to 42%, whereas the share of gas in power generation is projected to drop from 42% in 2015 to 37% in 2040 [worldcoal.org]

» May 25 2017 - #ClimatePolicy #ParisAgreement #NDCs § #ECN, #NewClimate Institute, 2017 NDC Update Report. Just six months after the Paris Agreement entered into force, we look at recent developments around NDC implementation and present the findings of a survey carried out among national experts and decision makers. Although it is early days, we observe optimism, confidence, and initiative. Further analysis and in-depth interviews however, give rise to a bit more caution: Is the action we see now enough to tackle the implementation challenge ahead? We believe it is it is too soon to know how the sum of the actions will turn out and important questions remain before we can be confident that the NDCs will be translated into credible sectoral actions. We identify two broad questions to guide future editions of the NDC Update Report and dig deeper to shed light on the status of NDC implementation and support: 1) whether and how are the Paris Agreement and the NDCs leading to increased action on the ground, and 2) which tools and competencies, and support, are needed to help governments in developing countries and emerging economies translate NDC ambition into implementation at the sectoral and sub-national level? [ambitiontoaction.net]

» May 25 2017 - #Oil #OilMarket #Geopolitics § Live Webcast, 172nd Meeting of the #OPEC Conference [opec.org]

» May 25 2017 - #NuclearWeapons #USPolicy #IranNuclearDeal #Geopolitics § #ChicagoCouncil on Global Affairs. A new nuclear arms race? In recent decades the United States has led international efforts to halt the proliferation of weapons of mass destruction. But many of President Trump's statements on nuclear weapons suggest a coming shift in US policy. In questioning America's security guarantees to its allies, criticizing the Iran nuclear deal, and calling for the strengthening of America's nuclear capabilities, critics charge that the President is undermining global nonproliferation efforts. Could America's new posture spark a renewed nuclear arms race? Or is an expanded and modernized nuclear deterrent critical to American security in an age of geopolitical instability and renewed great power rivalry? [thebulletin.org]

» May 24 2017 - #ClimateFinance #ClimateMarkets #LowCarbonEconomy § Carbon Mechanisms Review I4C special, a blend of both carbon markets and climate finance topics. This covers, inter alia, an interview with Karsten Sach, member of the GCF Board and four stakeholder perspectives on the future of the voluntary carbon market. Further topics include the implementation of Article 6 (especially with a view to the guidance for Article 6.2) and new additionality assessment requirements. Moreover, the isssue features a report on the International Carbon Asset Reserve, a new concept for reducing risks when linking carbon markets and presents an analysis of barriers to integration of sustainable development benefits into market mechanisms [carbon-mechanisms.de]

» May 24 2017 - #GreenEconomy #Biodiversity #FreshWaters #Forests § Business for #SustainableLandscapes: An Action Agenda for #SustainableDevelopment. The report underscores the numerous benefits that business can realise by investing in landscapes - from reducing their environmental and social risks to protecting their assets or sourcing area - by supporting vital biodiversity and ecosystems, such as forests, rivers and freshwater. Also, the report finds while businesses increasingly recognise that working in landscape partnerships can help them address critical issues that go beyond their immediate supply chains, today only a quarter of the 428 large, multi-stakeholder landscape partnerships surveyed include business [peoplefoodandnature.org]

» May 24 2017 - #Oil #Geopolitics #US § Trump Proposes Selling Off Half U.S. #StrategicOilReserve [...] The Strategic Petroleum Reserve currently holds 687.7 million barrels of oil in salt caverns and tanks at designated locations in Texas and Louisiana, which allow for quick distribution when natural disasters or unplanned incidents occur. The White House budget plan calls for selling 270 million barrels of reserve oil over the next decade beyond already planned sales, and it proposes closing two of the four Gulf Coast reserve sites. After all those sales, the reserve would be about 260 million barrels [...] The proposal also seeks to boost government revenues by allowing drilling in the Arctic National Wildlife Refuge, ending the practice of sharing oil royalties with states along the Gulf of Mexico and selling off government-owned electricity transmission lines in the West. Like much of the budget, those moves are likely to face opposition on Capitol Hill [bloomberg.com]

» May 24 2017 - #Oil #TightOil #US § While #Opec was cutting... The Permian will lead a strong US onshore recovery in 2017, while former stalwarts the Eagle Ford and Bakken struggle to regain their footing. After a nearly two-year rout, America's tight oil business is mounting a strong comeback-a little too strong for some of its rivals [petroleum-economist.com]

» May 23 2017 - #EV #ElectricMobility #Germany § #MercedesBenz, Daimler lays foundation for one of the biggest and most modern battery factories in the world [...] "The automotive industry is facing a fundamental transformation and we see ourselves as the driving force behind this change [...] The battery factory in Kamenz is an important component in the implementation of our electric offensive. By 2022, we will have more than ten purely electric passenger cars in series. We also continue to drive forward the hybridization of our fleet. Under the EQ brand, we are creating a holistic ecosystem for e-mobility" [...] Ten billion euros will be invested in the expansion of the electric fleet in the next few years [...] The new production facility, which is situated approximately 50 kilometres from Dresden, is scheduled to go into operation in mid-2018. Covering an area of around 20 hectares, the site is in the direct vicinity of the existing battery factory [...] The second battery factory has been designed as a CO2-neutral factory with an energy balance of zero: Daimler's approach to electric mobility is an integrated one, attaching key importance to sustainability already at the production stage. The production facilities will be supplied with energy from a combined heat and power plant and a photovoltaic plant in combination with stationary battery storage units. With state-of-the-art facilities and technologies, the new battery factory will also set standards regarding Industry 4.0 [...] The company assumes that the proportion of electric vehicles in the total unit sales of Mercedes-Benz will be between 15 and 25 percent by 2025 [media.daimler.com]

» May 23 2017 - #Coal #FossilFuel #PowerPlants § #Enel, Europe's biggest utility by market value, has given the first hint of the impact of new EU pollution limits in announcing the closure of two large coal power plants by 2018 and a plan to close all of its coal and lignite generation by around 2030. Enel's move gives the first glimmers of the likely impact on Europe's fossil fuel utilities of pollution limits agreed to less than three weeks ago [ieefa.org]

» May 23 2017 - #ShaleGas § #Canada's Permian of the North [...] The deposit straddles the northern border of Alberta and British Columbia. It was dubbed the "Permian of the North" by Vancouver-based Blackbird Energy Inc. because the Montney has the same layered, stratified geology as the Texas shale formation that has led a resurgence in U.S. oil production. But unlike the Permian, which yields mostly crude, the Montney is rich in gas and associated liquids such as condensate [...] Montney Shale Formation, unlike many parts of Canada's oil and gas region, is seeing a surge of investment three years after the worst energy slump in decades. During the first four months of 2017, the number of wells drilled jumped 80 percent from a year earlier to 277, according to Calgary-based Grobes Media Inc.'s BOE Report. It's the most for the period since 2014, when oil prices were twice what they are now and natural gas was 50 percent higher [bloomberg.com]

» May 23 2017 - #Energy #Electricity #CleanEnergyEconomy #DistributedEnergyResources #RooftopSolar #CCAs § #California Public Utilities Commission (#CPUC) White paper. Consumer and Retail Choice, the Role of the Utility, and an Evolving Regulatory Framework. California's electric sector is undergoing unprecedented change, brought about by a sequence of innovations in technology as well as many incremental policy actions taken in several different decision- making arenas. Between rooftop solar, Community Choice Aggregators (CCAs) and Direct Access providers (ESPs), as much as 25% of Investor Owned Utility (IOU) retail electric load will be effectively unbundled and served by a non-IOU source or provider sometime later this year. This share is set to grow quickly over the coming decade with some estimates that over 85% of retail load served by sources other than the IOUs by the middle of the 2020s. All this is to say that California may well be on the path towards a competitive market for consumer electric services, but is moving in that direction without a coherent plan to deal with all the associated challenges that competition poses, ranging from renewable procurement rules to reliability requirements and consumer protection [cpuc.ca.gov]

» May 23 2017 - #NuclearPower #Geopolitics #Switzreland § Swiss Voters Back Plan to Phase Out Nuclear Power [...] The Swiss initiative mirrors efforts to reduce dependence on nuclear power elsewhere in Europe, partly in response to Japan's Fukushima disaster in 2011. Germany intends to phase out nuclear power by 2022; Austria banned it decades ago. [nytimes.com]

» May 22 2017 - #ClimateChange #Security #Geopolitics § #ClimateDiplomacy Report. #Insurgency, #Terrorism and #OrganizedCrime in a #WarmingClimate [...] Over the past ten years, both our understanding and awareness of the links between climate change and security have increased tremendously. Today the UN, the EU, the G7 and an increasing number of states have classified climate change as a threat to global and/or national security. However, the links between climate change, conflict and fragility are not simple and linear. The increasing impacts of climate change do not automatically lead to more fragility and conflict. Rather, climate change acts as a threat multiplier. It interacts and converges with other existing risks and pressures in a given context and can increase the likelihood of fragility or violent conflict. States experiencing fragility or conflict are particularly affected, but also seemingly stable states can be overburdened by the combined pressures of climate change, #PopulationGrowth, #Urbanization, #EnvironmentalDegradation and rising socio-economic #Inequalities [climate-diplomacy.org]

» May 22 2017 - #Oil #Geopolitics § #Bloomberg. #SaudiArabia Welcomes #Trump With Billions of Dollars of Deals [...] The Public Investment Fund, the kingdom's sovereign wealth fund, agreed to commit $20 billion to an infrastructure investment fund with Blackstone Group LP. The fund will eventually double in size with money raised "from other investors." Saudi Aramco said it signed 16 accords with 11 companies valued at about $50 billion. One initial deal -- worth $15 billion -- was signed with General Electric Co. The U.S. and Saudi Defense Ministry also negotiated a package of about $110 billion [bloomberg.com]

» May 22 2017 - #NaturalGas #EnergyPolicy #ClimateChange #UK #Brexit § #AddleshawGoddard Report. The future of gas. In the face of cheap but polluting coal and burgeoning but intermittent renewables, the future of gas in the UK and beyond has never been so fundamental. The report surmises that the opportunities are plentiful, stemming from new demand and climate change objectives, and driven by exploration successes as well as a changing attitude among investors. [addleshawgoddard.com]

» May 22 2017 - #REnewableEnergy #IndustrialPolicy § #IEA Report. RE-INDUSTRY. Fostering #RenewableIndustry integration in the industry. According to the IPCC 5th assessment report, the industry is one of the largest energy consumers (28%) and greenhouse gas (GHG) emissions contributors worldwide (30%). Industrial actors will have to play a significant role in GHG emission reduction, both by reducing their energy intensity and their carbon footprint. Integrating renewable energy (RE) production assets in their facilities is one means to achieve the 1.5-2°C commitment of the Paris Agreement. The IEA-RETD RE-INDUSTRY study explores state-of-the-art RE applications in the industry and provides lessons learned for industrial actors and recommendations for policy makers. The report contains two sections: a review of 20 case studies and a section on policy options and lessons learned [iea-retd.org]

» May 19 2017 - #ClimateChange #ClimatePolicy § Toward 1.5 Degrees: #ICLEI USA 2016 Annual Report. The #ParisAgreement includes Nationally Determined Contributions (#NDCs), reductions in GHG emissions by country - which offer this reality: In 2030, global emissions will be 22 gigatons of CO2 equivalent (GT CO2e) higher than the level needed to stay on track towards the 1.5° target and 15 GT CO2e higher than the level needed for a 2.0° scenario (UNFCCC analysis, May 2016). This is roughly equivalent to the emissions produced by 4,400 coal-fired power plants in one year. The global community must push to peak greenhouse gas emissions by 2020, eliminate the use of fossil fuels in the power sector by 2050, and deploy negative-emissions strategies by 2040 in order to protect the most vulnerable (Climate Analytics, October 2016). Will the United States continue to play a significant role in the global effort to curb warming? [icleiusa.org]

» May 19 2017 - #CleanTechnologies #Renewables #EnergyStorage #NuclearPower #FundingModels #Leverage #ClimateChange § #Brookings Report. Cleantech #VentureCapital: Continued declines and narrow geography limit prospects [...] early-stage cleantech companies and entrepreneurs are facing increasing challenges in accessing investment and VC dollars. In view of that, this analysis looks at VC investment data across 15 cleantech categories during the 2000s, with a particular focus on years since 2011, and on the nation's diverse metropolitan areas. What do we find? The analysis provides new evidence that cleantech VC activity is changing in ways that are requiring new commercialization strategies. Along with a significant drop in VC investment in cleantech, investments have concentrated in a few technology areas, in more mature firms, and in just a few metropolitan areas, raising concerns about the narrow and spotty focus of cleantech VC. The upshot: New and more diverse approaches to finding and funding America's new great cleantech companies are sorely needed [brookings.edu]

» May 19 2017 - #Sustainability #Finance #US #Investing § #Fidelity Launches First Two Sustainability-Focused Index Funds. Competitively-Priced Mutual Funds Strengthen Fidelity's ESG Offering; Fidelity Signs #UnitedNations-supported Principles for Responsible Investment (#PRI). Fidelity Investments, one of the industry's largest, most experienced providers of low-cost active and index investment products - assets under administration of $6.0 trillion, including managed assets of $2.2 trillion-, launched two sustainability-focused index funds-Fidelity U.S. Sustainability Index Fund and Fidelity International Sustainability Index Fund-to provide investors with additional choice for their environmental, social and governance (ESG) investments [...] Fidelity's Sustainability Index Funds Provide Access to U.S. and International Markets. Each fund will attempt to replicate the performance of its respective index, before expenses, by normally investing at least 80% of its assets in securities included in the index. Fidelity U.S. Sustainability Index Fund will seek to provide investment results that correspond to the total return of the MSCI USA ESG Index. The MSCI USA ESG Index is a capitalization-weighted index that provides exposure to companies with high ESG performance relative to their sector peers, as rated by MSCI ESG Research. MSCI USA ESG consists of large- and mid-cap companies in the U.S. market. Fidelity International Sustainability Index Fund will seek to provide investment results that correspond to the total return of the MSCI ACWI (All Country World Index) ex USA ESG Index. The MSCI ACWI ex USA ESG Index is a capitalization-weighted index that provides exposure to companies with high ESG performance relative to their sector peers, as rated by MSCI ESG research. MSCI ACWI ex USA ESG consists of large- and mid-cap companies across 22 developed markets and 23 emerging markets countries [fidelity.com]

» May 18 2017 - #CO2Market #EU #ETS § Communication from the Commission. Publication of the total number of #Allowances in circulation for the purposes of the Market Stability Reserve under the EU Emissions Trading System. Total number of allowances in circulation: 1 693 904 897 [europa.eu]

» May 18 2017 - #GlobalEnergy #EnergyTransition § #BP Statistical Review of #WorldEnergy 2017. Global energy markets changed dramatically in 2016. BP's Statistical Review of World Energy has been telling the story for more than 65 years. Find out what really happened last year and the implications this may have for the future transition of global energy. Launch webcast on 13 June 2017 [bp.com]

» May 18 2017 - #GlobalEconomy § #IEA Report, #Oil 2017. Analysis and Forecasts to 2022. Oil demand is expected to grow strongly at least to 2022 with the main developing economies leading the way. The need for more production capacity becomes apparent by the end of the decade, even if supply appears plentiful today. It is not clear that upstream projects will be completed in time given the unprecedented two-year fall in investment in 2015 and 2016 although majorreductions in costs will help. There is a risk of prices rising more sharply by 2022 if the spare production cushion is eroded [iea.org]

» May 17 2017 - #Oil #OilMarkets § #Oilprice Report, #SaudiArabia and #Russia agreed to extend the existing production cuts through the first quarter of 2018 driving oil prices to jump and significantly reducing the chances of another pricing downturn in the weeks and months ahead. Oil prices could rise further. A series of investment banks see further price gains coming soon. BNP Paribas and Goldman Sachs [...] Shale response? The big question is how the OPEC extension affects the trajectory of U.S. shale production. Output was already surging [...] EIA: Shale to grow by 122,000 bpd in June. In its latest Drilling Productivity Report, the EIA projects shale growth of 122,000 bpd next month compared to May [oilprice.com]

» May 17 2017 - #GreenEconomy § #UN Environment Report, #GreenTechnology Choices. The Environmental and Resource Implications of #LowCarbonTechnologies. This report, the first international assessment of this type, investigates the life-cycle environmental and natural resource implications of large-scale deployment of energy efficiency technologies. The report examines more than 30 demand-side energy efficiency technologies across different technological clusters, including lighting, buildings, information and communication technology, efficient metals processing, high-efficiency co-generation, and transportation. In addition, the combined effects of low-carbon energy supply and deployment of efficient demand-side technologies under the 2 degree and 6 degree Celsius scenarios are assessed. Research confirms that demand-side technologies reduce greenhouse gas emissions as well as many other environmental impacts. However, the magnitude of those improvements varies widely among technologies and regions. In some cases, demand-side technologies may increase resource consumption and even greenhouse gas emissions. Therefore, it is crucial to understand where, when, and with which technology investment should be placed to maximize benefits [resourcepanel.org]

» May 17 2017 - #ClimatePolicy #ClimateFinance § #Meetingoftheminds, The Next Era of #MarketFinance for #Resilience. As we enter an era of demands on cities sparked by climate change-induced shocks and stresses, ingenuity by cities is in high demand. Various estimates of adaptation/resiliency funding needs exist. For instance, the United Nations Development Program projects that adaptation costs could range from $140 billion to $300 billion by 2030 - and between $280 billion and $500 billion by 2050. In the U.S., the Union of Concerned Scientists, a source for cost estimates to remedy such risks, estimates that sea-level rises of 13-to-20 inches by 2100 would threaten privately insured coastal property valued at $4.7 trillion (source). In addition, the Risky Business initiative notes that increases in temperature, heat waves and humidity will drive up demand for energy and require the equivalent of 200 new power plants nationwide that could cost up to $12 billion a year by 2100. Plus, we already know how costly it can be to respond to climate change. Hurricane Sandy in 2012 cost New York $32 billion in damage and loss. Earlier, thunderstorms, tornadoes and flooding in the summer of 2008 caused more than $18 billion in damage and 55 deaths nationwide, primarily in the Midwest [...] Global reinsurer Zurich calculates that for every dollar spent on targeted flood-risk reduction measures, five dollars can be saved by avoiding and reducing losses [...] Potential Sources of Finance. Both collaboration and long term BCAs (Benefit Cost Analysis) should not only entice the finance community, they should make it more politically feasible to ensure that existing budgets and funds - such as general obligation bonds and rate-payer revenue - can be used for resilience projects. While cities often are wary of increasing their general obligation bonds, credit raters are rational actors and more of them are mindful of resilience. Simply consider Standard &Poor’s recent reports on the impact of climate risk on sovereigns and corporations. In any case, these features should make financing with any mechanism easier [meetingoftheminds.org]

» May 17 2017 - #NaturalGas #Geopolitics #EU § #OxfordEnergy, European #GasPricing Dynamics. The Dutch TTF is now the most liquid hub in Europe (in front of the UK NBP) [...] the dynamics of the new Groningen cap, US LNG and record Russian flows. The presentation concludes with a focus on the potential impacts of Brexit on policy and infrastructure [oxfordenergy.org]

» May 16 2017 - #ClimatePolicy #Nuclear § #PetroleumEconomist, #EnergyDiversification is essential for #Japan. Six years on from the Great East Japan Earthquake and Fukushima nuclear accident in Japan, the impact is still being felt in the energy sector. Of the 42 nuclear reactors in the island nation, 12 have passed safety reviews and three of those are already back in operation, at a total capacity of 2,670MW, while the other nine are being prepared to go back online. However, three out of nine units that were approved will need more time before they can go online. But two obstacles remain. Once the government has signed them off, the nuclear reactors must still get approval from local authorities-and public opposition remains strong. A recent nationwide survey found almost 60% of the public are still against nuclear power. Following a lawsuit from local residents, two reactors in Takahama were brought offline just after they had restarted in February 2016. But, in May 2017 the High Court in Osaka overturned the ruling to shut them down [petroleum-economist.com]

» May 15 2017 - #ClimateChange #Adaptation #Migration #DisasterRiskReduction #Finance § #HeinrichBoellFoundation report, Financing Loss and Damage: A Look at Governance and Implementation Options. This report explores a number of elements that urgently need to be addressed: When it comes to implementation loss and damage overlaps with adaptation, humanitarian disaster recovery, disaster risk reduction, migration programs and so on. It's important that loss and damage strategies and programmes are as impactful as possible for people on the ground. To avoid duplication and unnecessary complication, political and institutional coordination in these various areas will be needed. When it comes to financing loss and damage activities, experience in adaptation finance shows that it will be useful to be clear what we mean by loss and damage. We review existing working definitions of loss and damage, and a range of illustrative examples, and isolate what makes loss and damage different to adaptation, disaster risk reduction, disaster response and development [boell.org]

» May 15 2017 - #RenewableEnergy #LowCarbonEconomy § #IRENA Webinar, IRENA Global Atlas 3.0. The Global Atlas for Renewable Energy is a tool for initial prospecting of renewable energy opportunities globally, and its latest iteration Global Atlas 3.0, developed in partnership with Spain's National Renewable Energy Centre (CENER), enhances users' experience with new functions and capabilities for renewable energy mapping. This one-hour launch webinar, starting at 17:00 GST, will demonstrate how users can search for maps, work on them offline, and is an opportunity to provide comments and feedback. The webinar will showcase the Global Atlas's new analysis capabilities, including a bioenergy production simulator, a PV battery simulator, a solar water-heater simulator, and a grid-connected solar PV system simulator [irena]

» May 13 2017 - #ClimateChange #Oil #LowCarbonEconomy § #Bloomberg, #Occidental Holders Override Board in Approving Climate Proposal. Occidental Petroleum Corp.'s shareholders approved a proposal Friday to require the oil and gas exploration company to report on the business impacts of climate change, marking the first time such a proposal has passed over the board's objections. The resolution, initiated by a group of investors including the California Public Employees' Retirement System, received more than 50 percent of the votes at Occidental's shareholder meeting in Houston on Friday, according to spokesmen for the company and Calpers. Occidental didn't provide the tally, but said the exact figures will be submitted to the Securities and Exchange Commission in coming days [...] Occidental's board recommended investors vote against the proposal because its business strategies already incorporate the risks of a lower carbon economy. The proposal asks Occidental to assess its portfolio for long-term climate change impacts consistent with the Paris Agreement's goal of limiting global temperature increases to 2 degrees Celsius [bloombergquint.com]

» May 12 2017 - #ClimateChange #Finance #Economy #ClimatePolicy #LowCarbonPathway § #I4CE Paper, Why should financial actors align their portfolios with a 2 °C pathway to manage transition risks? What does aligning a portfolio with a low-carbon pathway mean? To limit global warming and its economic consequences, there is a limited "budget" for carbon that can be released into the atmosphere between now and the end of the century. A "low-carbon pathway" therefore refers to the pathway of an economy that is implementing efforts to sufficiently restructure its activities to significantly reduce greenhouse gas emissions. Among low-carbon pathways, the "2°C pathway" allows the achievement climate policy objectives, or a decarbonisation of the economy at a level that limits global warming below +2°C compared with the pre-industrial era [i4ce.org]

» May 12 2017 - #RenewableEnergy #PV § #OilPrice, New #Tesla's #SolarRoof, new competition strategy [...] Reflecting its status as an increasingly vertically-integrated #CleanEnergyCompany, [...] Tesla is revamping its sales strategy. Instead of doing door-to-door sales for its solar roof, Tesla is moving its solar roofing sales into its EV car stores. Someone willing to plunk down $35,000 for an electric vehicle is also somebody that might be interested in a $50,000 solar roof. Predictably, the strategy is 50 to 100 percent more effective, based on the company's early results [oilprice.com]

» May 12 2017 - #OilProduction § #Bloomberg, #OPEC and other #Oil producers taking part in output cuts have reached a consensus to extend the limits until the end of the year [...] "The decision to decrease output will be for six months, and Algeria and Iraq maintain a united stand for the next cuts" [bloomberg.com]

» May 11 2017 - #ClimatePolicy #ClimateFinance § European Roundtable on Climate and Sustainable Transition (#ERCST), #WegenerCentre, #Nomisma Energia, #I4CE, The State of the #EU #ETS Report. The EU Emissions Trading System (EU ETS) has passed its 10th anniversary. As any other undertaking, it requires, periodically, an assessment regarding its well-functioning, and the delivery of its objectives. Article 10(5) of the EU ETS Directive provides for such a yearly assessment. The State of the EU ETS Report is not intended to duplicate or replace existing authoritative work. It aims to be an independent contribution to the policy debate, which is needed to ensure that the EU ETS is "fit for purpose." This report discusses the current state of play in the EU ETS while abstaining, to the extent possible, from providing solutions [ictsd.org]

» May 11 2017 - #ClimatePolicy #ClimateFinance #Funding § #NAMA Facility Mid-Term Evaluation Report. This Mid-Term Evaluation (MTE) report is the product of the MTE of the NAMA Facility, a multi-donor climate finance facility. The target audience of the evaluation is primarily the NAMA Facility's Technical Support Unit (TSU) and donors but likewise other stakeholder e.g. actors that have an interest in NAMA Support Projects (as potential applicants or funders) are also considered to be among its wider audience. The MTE was carried out between May and November 2016 by LTS International [nama-facility.org]

» May 11 2017 - #LowCarbonEnergy #EnergyEfficiency #Bioeconomy #SustainableFoodSecurity #Nanothecnologies #AdvancedMaterial #FundingOpportunities #Research #Innovation #EU § #SiS.Net2 Report. RRI Opportunities in #Horizon2020. A guideline of the different funding opportunities with relevance to Science with and for Society stakeholders in the different parts of the Work Programme 2016-2017 [oecd.org]

» May 10 2017 - #Economy § #OECD. The Next #ProductionRevolution. Implications for Governments and Business. This publication examines the opportunities and challenges, for business and government, associated with technologies bringing about the "next production revolution". These include a variety of digital technologies (e.g. the #InternetofThings and advanced #Robotics), industrial #Biotechnology, #3Dprinting, new materials and #Nanotechnology. Some of these technologies are already used in production, while others will be available in the near future. All are developing rapidly. As these technologies transform the production and the distribution of goods and services, they will have far-reaching consequences for productivity, skills, income distribution, well-being and the environment. The more that governments and firms understand how production could develop in the near future, the better placed they will be to address the risks and reap the benefits [oecd.org]

» May 10 2017 - #Oil § #PetroleumEconomist, #Russia is on track to meet its obligations as part of the Opec-non-Opec deal so far. But producers are already advising investors that production will actually increase in the second half of 2017. Despite financial and technological sanctions, lower oil prices and the depletion of mature fields, Russian oil firms lifted output in 2016 by 2.6%, to 11m barrels a day-within touching distance of the Soviet-era high. If Russia does not agree to an extension of the agreement, it will keep on adding supply between 2017 and 2019 [petroleum-economist.com]

» May 10 2017 - #ClimatePolicy #Water § #Nature Climate Change, #ClimateChange enhances interannual variability of the #Nile river flow. The human population living in the Nile basin countries is projected to double by 2050, approaching one billion. The increase in water demand associated with this burgeoning population will put significant stress on the available water resources. Potential changes in the flow of the Nile River as a result of climate change may further strain this critical situation. Here, we present empirical evidence from observations and consistent projections from climate model simulations suggesting that the standard deviation describing interannual variability of total Nile flow could increase by 50% (±35%) (multi-model ensemble mean ± 1 standard deviation) in the twenty-first century compared to the twentieth century. We attribute the relatively large change in interannual variability of the Nile flow to projected increases in future occurrences of El Nino and La Nina events and to observed teleconnection between the El Nino-Southern Oscillation and Nile River flow. Adequacy of current water storage capacity and plans for additional storage capacity in the basin will need to be re-evaluated given the projected enhancement of interannual variability in the future flow of the Nile river [nature.com]

» May 9 2017 - #ClimateChange #ClimatePolicy #NDCs #CarbonMarket § #ChathamHouse, Governance of Article 6 of the #ParisAgreement and Lessons Learned from the #KyotoProtocol. Article 6 of the Paris Agreement provides for the transfer of mitigation outcomes between parties, which could then be used to meet their NDCs - the pledges that these countries have made under the agreement. This provision could enable the creation of an international carbon market, through which these countries' governments, and private entities, could trade emissions permits across national boundaries. This paper examines the lessons learned from the Kyoto Protocol with respect to the governance of international carbon markets, and how these lessons relate to the provisions under the Paris Agreement's article 6. The Paris Agreement has outlined the broad political lines of how such a market would function but provided limited specificity as to how to operationalize it. To reach an agreement in Paris, many issues were left reasonably ambiguous, and this is especially true with respect to the issue of governance of article 6. Consequently, there remain significant amounts of work to do, and many issues to negotiate [cigionline.org]

» May 9 2017 - #CircularEconomy #FossilFuels #Oil #Coal #NaturalGas § #ChathamHouse, Visualizing #Trade in #NaturalResources. A comprehensive and accessible data and insights into the dynamics of global resource trade, including #Agricultural, #Fishery and #ForestryProducts, fossil fuels, metals and other minerals, and pearls and gemstones [resourcetrade.earth]

» May 9 2017 - #ClimateChange § #EUEI Report, The role of #SustainableEnergy access in the migration debate. In 2013, 232 million people worldwide were living outside their country of origin and, according to estimates by experts on internal migration, one billion people permanently moved to another place of residence within their country of birth. According to UNHCR, 65.3 million people worldwide were forcibly displaced in 2015 with an average resettlement waiting period for a refugee of 17 years. The increasing international migration flows place a growing demand on host countries' resources including energy services while, conversely, the international donor community is pushing for efficient use of funds earmarked for humanitarian aid and development, migration and energy programmes [euei-pdf.org]

» May 9 2017 - #EconomicGrowth § #IPEEC Report, #G20 #EnergyEfficiency Investment Toolkit for world's major economies to further develop USD 221bn energy efficiency opportunity. The G20 represents 84% of the world's total economic output, more than 80% of primary energy consumption and 80% of greenhouse gas (GHG) emissions. G20 countries recognise that both energy efficiency and increased energy productivity are critical to boost sustainable economic growth in an increasingly resource constrained planet. Energy efficiency investments deliver multiple private and public benefits and can be scaled-up significantly to decarbonise economies and deliver these multiple national economic benefits and the goals of the Paris Agreement in the most cost-effective way. This G20 Energy Efficiency Investment Toolkit (the "Toolkit") represents the culmination of three years of collaborative work, by participating countries, international organisations (IOs), financial institutions and country experts, to enhance capital flows for energy efficiency investments as compiled and supported by the G20 Energy Efficiency Finance Task Group ("EEFTG") [ipeec.org]

» May 9 2017 - #ClimateChange #ClimatePolicy § #UNFCCC Side Event on Long-term Strategies for 1.5°C. Science and long-term strategies: Knowing where we need to be and how we can get there. Tuesday 9 May, 15:00-16:30 CET, Bonn, Germany. The event will also be live streamed on the UNFCCC side event channel at the time. We are falling short of our Paris global warming goals. In 2015, nations agreed to limit temperature rise to well below 2°C and strive for 1.5°C - yet we are already seeing warming of 1.2°C. People all over the world are facing climate change devastation, and the instability and poverty it brings. We need to act immediately to get back on course, to fight climate change in line with the Paris Agreement and the 2030 Sustainable Development Goals. To do so, national emissions reductions plans must be improved urgently. This side-event will focus on the scientific basis for staying under 1.5°C and the importance of ambitious long-term strategies to tell us how to get there [UNFCCC]

» May 8 2017 - #ClimatePolicy § Asia-Europe Foundation (#ASEF), Handbook for ASEAN Government Officials on #ClimateChange and #SDGs. [...] a better understanding of the Paris Agreement and the follow-up process for ASEAN Member States. It serves as a resource on climate change for ASEAN government officials and other government officials involved in climate policies. The handbook presents the outcomes and next steps following what was achieved at the COP21 Summit and proceeds to elaborate on the climate cooperation in the ASEAN community, describing the climate policy profile of the ASEAN Member States. [asef.org]

» May 8 2017 - #ClimateChange #ClimatePolicy #EnergyPolicy § #EUEI report. #FutureEnergyScenarios for African Cities - Unlocking Opportunities for Climate Responsive Development [...] A study on potential scenarios outlining the energy and climate responsive growth situations from now to 2050 in cities in sub-Saharan Africa. Cities globally consume up to 80% of the total global energy production and release about 75% of global CO2 emissions. Africa's urban population is projected to triple from 400 million in 2010 to 1.26 billion in 2050, which represents nearly half of the projected rise in numbers of urban dwellers globally. Urbanisation in sub-Saharan Africa has not, for the most part, been matched with improvement in service delivery and economic growth, which hampers development opportunities. In a time when sub-Saharan Africa is experiencing the most severe impacts of climate change, local governments in Africa have great interest and incentives to take action on energy and climate issues. There is an opportunity in many African cities, as they urbanise over the next three decades, to meet existing and future needs of its economy and citizens while avoiding being locked-in to unsustainable patterns of growth [euei-pdf.org]

» May 5 2017 - #Oil § #Bloomberg. "Evidence is mounting that the OPEC agreement, and the market's reaction, were much ado about nothing," [...] Futures on both sides of the Atlantic dropped to their lowest since late November on growing signs that the group's production cuts are failing to clear a surplus of crude. Oil stocks felt the pinch, with the S&P Oil & Gas Exploration and Production Index slumping as much as 4.9 percent Thursday to the lowest since August [bloomberg.com]

» May 5 2017 - #ClimatePolicy #ParisAgreement § #Oeko-Institut, Stockholm Environment Institute and INFRAS for the German Environment Agency (#UBA). Environmental Integrity under Article 6 of the #ParisAgreement. This discussion paper explores key issues and options to achieve environmental integrity under Article 6 of the Paris Agreement. It proposes that environmental integrity in context of Article 6 means that using international transfers does not result in higher global GHG emissions than if mitigation targets of NDCs had been achieved only through domestic mitigation action. The paper identifies four issues that can affect the global GHG emissions outcome from international transfers: robust accounting for international transfers; the quality of units from mechanisms; the ambition of the NDC target of the transferring country; and presence of incentives and disincentives for further mitigation action. A particular risk is the international transfer of "hot air". Based on global GHG emissions and the communicated NDCs, it is estimated that global mitigation action be undermined by up to 68 % if all hot air in current NDCs would be transferred [dehst.de]

» May 4 2017 - #Oil #Coal #NaturalGas § #CIGI Webcast. The Case for #Divesting from #FossilFuels in #Canada. The call for divestment from fossil fuels has traditionally been pitched to protect the future wealth of pensioners and other long-term investors. But the time frames for action have shifted markedly over the last two years, with the collapse in coal, oil and natural gas prices already triggering a massive decline in the equity valuations of fossil fuel producers [...] will speak about [...] the recent spate of major international investors who have pulled up stakes from the Canadian oil sands [...] HURSDAY, MAY 11, 2017 - 7:00 PM - THURSDAY, MAY 11, 2017 - 10:00 PM [cigionline.org]

» May 4 2017 - #Energy § #Bloomberg report. Where the #Arctic #Oil Industry Is Booming. As Donald Trump seeks to open more U.S. Arctic waters to drilling, #Norway is showing the way [...] The Barents enjoys a number of advantages over the U.S. Arctic, where President Donald Trump is pushing to expand drilling. Thanks to the Gulf Stream, it's largely ice-free, unlike other areas such as Alaska and Greenland, which have been deserted by oil companies like Royal Dutch Shell Plc since 2014. The relatively shallow waters off Norway mean drilling is less costly, while the potential prize is huge: the Enabler’s fourth well will be Korpfjell, probably the largest prospect to be tested offshore Norway since the 1990s [bloomberg.com]

» May 4 2017 - #ClimatePolicy #ParisAgreement § Research Commissioned by: Swedish Energy Agency. Features and Implications of #NDCs for #CarbonMarkets. This comprehensive report maps out issues needing to be resolved to operationalize voluntary cooperation under Article 6.2 of the Paris Agreement. It has a particular focus on what may need to be addressed by decisions under the UNFCCC, including in relation to nationally determined contributions (NDCs). Guidance in these areas needs to be adopted by the CMA at the end of next year. The report is structured around the interplay of three key factors: NDC features; Accounting for NDCs and internationally transferred mitigation outcomes (ITMOs); Generation of mitigation outcomes. The report concludes by discussing possible directions that may be taken in the CMA guidance and suggesting areas where reaching an early understanding among countries could help unlock the further negotiations [energimyndigheten.se]

» May 3 2017 - #ClimateChange #RiskManagement #Infrastructure #Adaptation § #OECD report. Climate-resilient infrastructure. Getting the policies right. Climate change will affect all types of infrastructure, including energy, transport and water. Rising temperatures, increased flood risk and other potential hazards will threaten the reliable and efficient operation of these networks, with potentially large economic and social impacts. Decisions made now about the design, location and operation of infrastructure will determine how resilient they will be to a changing climate. This paper provides a framework for action aimed at national policymakers in OECD countries to help them ensure new and existing infrastructure is resilient to climate change. It examines national governments' action in OECD countries, and provides recent insights from professional and industry associations, development banks and other financial institutions on how to make infrastructure more resilient to climate change [oecd-ilibrary.org]

» May 3 2017 - #Oil #Geopolitics § #Economies that rely too heavily on #Commodities are hostages to the #Marketplace. When prices are high, the governments that manage these economies can afford the costs of political stability. When prices are low, however, their people get restless. Opposition mounts. Policy choices dwindle. Prolonged periods of low revenue sow the seeds of political crisis - something countries like #Nigeria, #Angola, #Ecuador and #Venezuela know all too well [worldview.stratfor.com]

» May 2 2017 - #LocalEconomy #GlobalEconomy #ResourceDepletion § #Marketresearchfuture. #SmartCity Market Research Report - Forecast 2022. The global Smart City market is expected to grow at USD 1363 Billion by 2022, at 19% of CAGR between 2016 and 2022. The use of information communication technology and internet of things to effectively manage and co-ordinate the city's assets refers to the Smart City. These assets consists of various utility services such as waste management, electricity, street lighting apart from utility services it also includes transport services, healthcare, education and others. The smart City aims to provide innovative services in all possible fields. It enable various users to be better informed and get safer, coordinated, efficiently managed services. Along with technology development, new adoptions of cloud computing, big data, evolution of wireless network, Machine to Machine (M2M) and artificial intelligence have boosted the smart City market. The study indicates that rising demand of integrated security & safety and demand for enhanced interactivity of urban services is driving the smart City market. It has been observed that government is taking initiative to incorporate smart technologies in the existing city infrastructure which results in the growth of smart City market by the forecast period. The smart city market for segment on the basis of application and region. The application segment consists of various smart applications as smart meter, smart parking, smart lighting, smart ticketing, smart transport, smart homes, smart buildings and others. Smart city has many advantages as it reduces congestion, air pollution and resource depletion also boosts local economy, promote interactions and ensures security. These advantages boosts the smart city market.[marketresearchfuture.com]

» May 2 2017 - #NaturalGas § #WorldOil. #Total to invest $500 million to produce #Shale gas in #Argentina. The French energy giant has given the go-ahead to develop the first phase of the Aguada Pichana Este license in the Vaca Muerta formation. Total also plans to increase its interest in the license, co-owned by YPF SA, Wintershall Energia SA and Panamerica Energy LLC, to 41% from about 27%, pending approval from local authorities. To spur drilling at Vaca Muerta, one of the largest shale formations outside North America, the Argentine government has extended a program that ensures a minimum price for the gas companies produce until 2021. Total, already enjoying lower drilling costs following crude's slump, has highlighted the need to get new projects off the ground to avoid a future shortfall in energy supply [...] The company is budgeting as much as $17 billion a year in capital expenditure, including resource renewal, through 2020. Gas from the Vaca Muerta project will be treated at the existing Aguada Pichana plant, which will ramp up to its full daily capacity of 16 MMcmg, or 100,000 boe, according to Total. The company produced 78,000 boed in Argentina last year [worldoil.com]

» April 28 2017 - #Biogas #EU § #CEDelft #Eclareon #Wageningen Research Report. Optimal use of biogas from waste streams. An assessment of the potential of biogas from digestion in the EU beyond 2020. Biogas can be produced from a range of feedstocks and utilised in all energy sectors, contributing to the EU's decarbonisation, renewable energy and energy security objectives. Current (2014) biogas production level in the EU is almost 15 Mtoe, which represents about 7.6% of all primary renewable energy production in the EU. Differences between Member States are, however, very significant: only three Member States (Germany, United Kingdom and Italy) are currently responsible for more than 77% of the EU's biogas production. This biogas is mostly used for electricity production, followed by heat production and use as a transport fuel. As the European Commission is working on the further development and concretisation of the post-2020 climate and energy policies, this study was commissioned to zoom in on the potential role, cost and benefits of biogas, and to assess the key barriers and drivers of biogas deployment in the EU. An important question to address was what policies at both EU and Member State level can best contribute to the effective and efficient growth of biogas deployment in the EU [cedelft.eu]

» April 28 2017 - #ClimaPolicy #ClimateChange #GlobalEconomy § #Nordic Report. Mobilizing #ClimateFinance flows. If the Agreement's goal - limit the global temperature increase below 2°C - is to be met, all financial flows need to shift dramatically and rapidly from current investment patterns to 2°C compatible pathways. This study analyses the roles Nordic actors might play in mobilizing finance flows internationally and outlines a roadmap that can guide joint Nordic action during the next five to ten years. While the roadmap covers components of "climate related ODA' and climate compatible contributions from the private sector, the focus of the roadmap lies on the crucial bridging and dialogue that is required between key actors. Building on identified Nordic strengths and areas needing accelerated international support, the report concludes with a set of immediate next steps to operationalize the roadmap in 2017-2018 [norden.diva-portal.org]

» April 27 2017 - #EnergySecurity #GlobalEconomy #Geopolitics § Global #Oil discoveries and new projects fell to historic lows in 2016. Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the #IEA, which warned that both trends could continue this year. Oil discoveries declined to 2.4 billion barrels in 2016, compared with an average of 9 billion barrels per year over the past 15 years. Meanwhile, the volume of conventional resources sanctioned for development last year fell to 4.7 billion barrels, 30% lower than the previous year as the number of projects that received a final investment decision dropped to the lowest level since the 1940s. This sharp slowdown in activity in the conventional oil sector was the result of reduced investment spending driven by low oil prices. It brings an additional cause of concern for global energy security at a time of heightened geopolitical risks in some major producer countries, such as Venezuela. The slump in the conventional oil sector contrasts with the resilience of the US shale industry. There, investment rebounded sharply and output rose, on the back of production costs being reduced by 50% since 2014. This growth in US shale production has become a fundamental factor in balancing low activity in the conventional oil industry. Conventional oil production of 69 mb/d represents by far the largest share of global oil output of 85 mb/d. In addition, 6.5 mb/d come from liquids production from the US shale plays, and the rest is made up of other natural gas liquids and unconventional oil sources such as oil sands and heavy oil. With global demand expected to grow by 1.2 mb/d a year in the next five years, the IEA has repeatedly warned that an extended period of sharply lower oil investment could lead to a tightening in supplies. Exploration spending is expected to fall again in 2017 for the third year in a row to less than half 2014 levels, resulting in another year of low discoveries. The level of new sanctioned projects so far in 2017 remains depressed [...] The US shale industry has lowered its costs to such an extent that in many cases it is now more competitive than conventional projects. The average break-even price in the Permian basin in Texas, for example, is now at USD 40-45/bbl. Liquids production from US shale plays is expected to expand by 2.3 mb/d by 2022 at current prices, and expand even more if prices rise further. The offshore sector, which accounts for almost a third of crude oil production and is a crucial component of future global supplies, has been particularly hard hit by the industry's slowdown. In 2016, only 13% of all conventional resources sanctioned were offshore, compared with more than 40% on average between 2000 and 2015. In the North Sea, for instance, oil investments fell to less than USD 25 billion in 2016, about half the level of 2014. Coincidentally, this is now approaching the level of spending in offshore wind projects in the North Sea, which has doubled to about USD 20 billion in the same period [iea.org]

» April 27 2017 - #SustainableConsumption SustainableProduction #EnvironmentalPerformance #SDGs #NationalPolicy #CrossScalePolicy § How the #PlanetaryBoundaries Framework can Support National Implementation of the 2030 Agenda. The Planetary Boundaries are precautionary quantified limits for human impact on critical earth systems; thus they also define the outer bounds of a "safe operating space" for human activity. They can be parsed as global-level targets for several environmental SDGs, and thus as benchmarks to assess whether, collectively, nationally defined targets are sufficiently ambitious. Both briefs discuss how Planetary Boundaries, downscaled and "translated", can be used to inform national or regional policy-setting and progress assessment. They also discuss how the Planetary Boundaries can be combined with consumption-based accounting to compare countries' or regions' external environmental pressures with a "fair share" of the safe operating space - a question of particular relevance to SDG 12 [sei-international.org]

» April 26 2017 - #ClimatePolicy #US #India #China #RenewableEnergy § #NewClimateInstitute Report. Investments in China and the US need to roughly double, in India even triple, to remain within the Paris Agreement warming limit. Renewable power investments will need to rapidly grow in the coming two decades to be in line with the Paris Agreement targets. According to UNEP and Bloomberg New Energy Finance (BNEF), in 2016, combined investments in renewable electricity in China, India and the US amounted to USD 134 billion. These accounted for over half of the global investments in electricity supply in 2016. China and India overshoot their renewable energy targets regularly and are exiting coal. China aims to increase the renewable energy capacity by 38% in 2020 compared to 2015 levels, equaling 680 Gigawatt (GW) of installed capacities and investments of USD 361 billion in renewable energies. For comparison: Germany, which ranked first in the Allianz Climate & Energy Monitor 2016 for its renewable energy policies, currently has roughly 100 GW renewables installed. A new park of 10 wind mills has around 0.04 GW of capacity. India is also developing its renewable energy capacity at a rapid pace. In 2016, solar and wind installations exceeded the annual goal by 43% and 116% respectively. For 2022, India plans 175 GW of installed renewables. With market forces set into action by a clear policy intent, India is expected to comfortably achieve its climate targets. Both countries are looking to exit coal-based power generation: China is cancelling plans for new fossil-based power plants and swiftly decommissioning existing coal power plants, while India is considering plans to stop building new coal power plants after 2022 [newclimate.org]

» April 26 2017 - #ClimatePolicy § Australian-German Climate and Energy College - EU Centre on shared complex challenges Report. The #ParisAgreement global goals: What does a fair share for #G20 countries look like? This report reviews the literature to compare the socio-economic implications and climate impacts of achieving each of the Paris Agreement temperature goals: 1.5 °C and 2 °C. Drawing on a recent publication (Robiou du Pont, Jeffery, Gütschow, et al., Nature Climate Change, 2017) and its related website Paris-equity-check.org, this report then examines the scenarios to reduce greenhouse-gases (GHG) emissions consistent with the Paris global goals. Finally, this report presents greenhouse-gases (GHG) emissions targets for G20 members consistent with the five effort sharing categories contained in the latest report of the Intergovernmental Panel on Climate Change (IPCC), and compares the equity performances of their climate pledges against their own declarations on equity [climate-energy-college.org]

» April 25 2017 - #ClimatePolicy #KyotoProtocol #ParisAgreement § #InternationalEnvironmentalAgreements: Politics, Law and Economics Article. Compliance with #ClimateChange agreements: the constraints of #Consumption. The Kyoto Protocol required most developed countries collectively to reduce their greenhouse gas (GHG) emissions about 5% below 1990 levels by 2012. Despite the binding nature of each country's emissions-limitation target, levels of compliance varied greatly. What explains this variation in compliance? This article shows that the amount of material consumption within each country may contribute to answering this question. Using cross-sectional time-series data analysis for 36 Annex I (developed) countries from 2000 to 2012 and controlling for a range of domestic and international factors, quantitative analysis shows that compliance with emissions targets is least likely to be realized in countries with higher levels of consumption. This tendency has vitally important implications for agreements on future emissions limitations because those agreements must include more of the large developing countries that are intent on raising their own citizens' consumption toward levels in the developed world. Without addressing consumption behaviors and the policy implications thereof, adequately mitigating GHG pollution in the future, notably through the 2015 Paris Agreement, will be extremely difficult [springer.com]

» April 25 2017 - #NaturalGas #EU #Russia #Geopolitics § Growth in #Europe's demand for Russian gas confirms importance of #NordStream2 [gazprom.com]

» April 25 2017 - #ClimateChange #CarbonEmissions #EnvironmentalSociology #Sustainability § #EcologicalEconomics Article. #IncomeInequality and Carbon Emissions in the United States: A State-level Analysis, 1997-2012. This study investigates the relationship between U.S. state-level CO2 emissions and two measures of income inequality: the income share of the top 10% and the Gini coefficient. Each of the inequality measures, which focus on unique characteristics of income distributions, is used to evaluate the arguments of different analytical approaches. Results of the longitudinal analysis for the 1997 to 2012 period indicate that state-level emissions are positively associated with the income share of the top 10%, while the effect of the Gini coefficient on emissions is non-significant. The statistically significant relationship between CO2 emissions and the concentration of income among the top 10% is consistent with analytical approaches that focus on political economy dynamics and Veblen effects, which highlight the potential political and economic power and emulative influence of the wealthy. The null effect of the Gini coefficient is generally inconsistent with the marginal propensity to emit approach, which posits that when incomes become more equally distributed, the poor will increase their consumption of energy and other carbon-intensive products as they move into the middle class [sciencedirect.com]

» April 21 2017 - #Geopolitics § #CSIS Report. #US #Oil in the #GlobalEconomy: Markets, Policy, and Politics. The rapid rise in unconventional oil output in the early part of this decade returned the United States to a prominent position as a major oil supplier. Over the course of the past 10 years, U.S. liquid production has risen by over 150 percent as net import dependence has fallen by over 60 percent. The United States is now the world's largest exporter of refined petroleum products and in 2016/2017 became a net exporter of natural gas. The resource endowment coupled with the success of quick cycle development of light tight oil (LTO) continues to affect global oil markets [csis.org]

» April 21 2017 - #Geopolitics #SovereignWealthFund #SWF § #Crystol Dossier. The impact of #Oil and #Gas. Perhaps more than any other commodities, oil and gas play a crucial role in global geopolitics. Wars are fought over these resources, and their prices - a key determinant in the cost of energy - are an ever-present source of tension. Over the past decade, technological advances have led to a revolution in extracting oil and gas from shale, transforming the industry and turning importers into exporters [...] Another element of Riyadh's economic reform plan was the transformation of the Saudi Public Investment Fund (PIF), which until recently had largely acted as a holding fund, into a more traditional sovereign wealth fund (SWF) that would invest oil income for future generations. The plan will increase PIF's holdings to some $2 trillion, more than double those of Norway's $922 billion Government Pension Fund Global (GPFG), currently the world's largest [crystolenergy.com]

» April 21 2017 - #EnergyTransition #Geopolitics #CommodityPriceVolatility #EconomicGrowth § #WEC Report. World Energy Issues Monitor 2017 [...] The monitor helps to define the world energy agenda and its evolution over time. It provides a high-level perception of what constitute issues of critical uncertainty, in contrast to those that require immediate action or act as developing signals for the future. It is an essential tool for understanding the complex and uncertain environment in which energy leaders must operate, and a tool through which one can challenge own assumptions on the key drivers within the energy landscape. This eighth iteration of the monitor is based on insights provided by more than 1,200 energy leaders to provide over 35 national assessments across six regions [wec-italia.org]

» April 21 2017 - #ClimateFinance #SustainableEconomicGrowth § #WorldBank livestreamed event. Unlocking Financing for #ClimateAction, on April 21, 2017 - 3:00-4:00 PM ET. Join World Bank Group President Jim Yong Kim in a panel discussion on mobilizing the finance and investment needed to ensure the world meets the goals of the Paris Agreement. This high-level event brings together well known voices on climate change with leaders from government, philanthropy and the private sector to focus on new ideas for financing global climate action [worldbank.org]

» April 21 2017 - #SustainableDevelopment #SustainableEconomicGrowth § #WorldBank livestreamed event and online chat. #Cities are Where the Future is Being Built, on April 21 at 9-10 am ET / 13:00-14:30 GMT. With the global productivity slowdown and stagnating progress in poverty reduction, new sources of growth are needed to anchor development in a changing global landscape. This flagship session will bring together thought leaders and national and city policy makers to highlight the role of cities and metropolitan regions in being vanguards for inclusive and sustainable economic growth [worldbank.org]

» April 21 2017 - #Oil #ConventionalOil § After decades of decline, #Canada's ageing oilfields have been revived by advances in #HrizontalDrilling and #HydraulicFracturing. Output tripled to around 1.4m barrels a day by 2015, up from 460,000 b/d in 2010, according to the Canadian Energy Research Institute (Ceri)-an industry-funded think tank. According to the National Energy Board (NEB), the country's regulator, that's the highest level of conventional output since 1972. Horizontal drilling and fracking are helping producers lift recovery rates on many old oilfields that had historically only been able to get about 15% of the original oil in place out of the ground. The Alberta Energy Regulator (AER) estimates that some 1.14bn barrels of conventional reserves remain in the province, against a potential of 20bn more using modern technology. Thus, even a small rise in recovery factors can translate into hundreds of millions of additional barrels at relatively little cost, depending on oil prices [petroleum-economist.com]

» April 21 2017 - #ClimateChange ClimateChangeImpacts #Projection #Prediction § #NatureClimateChange letter. #Migration induced by sea-level rise could reshape the #US population landscape. Many sea-level rise (SLR) assessments focus on populations presently inhabiting vulnerable coastal communities, but to date no studies have attempted to model the destinations of these potentially displaced persons. With millions of potential future migrants in heavily populated coastal communities, SLR scholarship focusing solely on coastal communities characterizes SLR as primarily a coastal issue, obscuring the potential impacts in landlocked communities created by SLR-induced displacement. Here I address this issue by merging projected populations at risk of SLR with migration systems simulations to project future destinations of SLR migrants in the United States. I find that unmitigated SLR is expected to reshape the US population distribution, potentially stressing landlocked areas unprepared to accommodate this wave of coastal migrants-even after accounting for potential adaptation. These results provide the first glimpse of how climate change will reshape future population distributions and establish a new foundation for modelling potential migration destinations from climate stressors in an era of global environmental change [nature.com]

» April 21 2017 - #Geopolitics #Iran § #EU Fosters Iran #Nuclear Links. In a likely sign of further policy divergence with the new #US administration, the European Commission (EC) said April 18 it had signed the first ever project for nuclear safety co-operation with Iran, under their framework of the Joint Comprehensive Plan of Action [naturalgasworld.com]

» April 20 2017 - #ClimateFinance #RiskManagement § #OECD Report. #ClimateChange #Adaptation and Financial Protection. Synthesis of Key Findings from #Colombia and #Senegal. Developing countries are disproportionately affected by the rising trend of losses from climate-related extreme events. These losses are projected to continue to increase in future, driven by climate change and the accumulation of people and assets in high-risk areas. Effective climate change policies are needed to reduce the accumulation of risk, combined with instruments and tools to help retain, share or transfer financial losses if an extreme event occurs. These tools and instruments, collectively known as financial protection, can help people cope with the impacts of climate-related disasters, reduce costs of recovery and reconstruction, and encourage risk reduction. Linking financial protection and climate adaptation in development planning and policy has the potential to increase the resilience of affected communities. This paper uses case studies of Colombia and Senegal to examine how countries are using financial protection as part of their approaches to managing climate risks [oecd-ilibrary.org]

» April 20 2017 - #ClimatePolicy #CarbonPricing § What would a #US withdrawal from the #ParisAgreement mean for #China? China has made clear that it will not withdraw from the Paris Agreement, even if the US does, so it will continue to fulfil its commitment to cut [greenhouse gas] emissions. But changes in the US position may present obstacles for implementing a carbon pricing mechanism. The development of clean power has reached a crucial point: advances in wind and power technology have reduced costs to the point where they can compete to an extent with fossil fuels. The carbon pricing mechanism of the Paris Agreement would make clean energy even more competitive. If the US pulls out that mechanism is at risk and China's motivation to implement a carbon trading market will be reduced [climate-diplomacy.org]

» April 19 2017 - #Energy #Water § #IEA Outlook. This excerpt from the #WEO2016 looks at the critical interplay between water and energy, with an emphasis on the stress points that arise as the linkages between these two sectors intensify. The analysis assesses the current and future freshwater requirements for energy production, highlighting potential vulnerabilities and key stress points. In addition, for the first time, the World Energy Outlook looks at the energy-for-water relationship, providing a first systematic global estimate of the energy requirements for different processes in the water sector, including water supply, wastewater treatment and desalination [iea.org]

» April 19 2017 - #Oil #GlobalEconomy #Geopolitics § #SaudiArabia, the world's largest crude shipper, trimmed exports to a 21-month low in February as local refineries took advantage of more abundant supplies and processed a record amount of crude. Oil exports fell to 6.95 million barrels a day, the lowest since May 2015, from 7.7 million a day in January, according to data published Tuesday on the Riyadh-based Joint Organisations Data Initiative website. The kingdom boosted production to 10 million barrels a day from 9.7 million a day, the data show. Saudi Arabia is bearing the brunt of the output cuts that members of the Organization of Petroleum Exporting Countries pledged to make in the first six months of this year. It committed to pump no more than 10.058 million barrels a day, as OPEC and other major producers sought to rein in global oversupply and support prices [bloomberg.com]

» April 19 2017 - #EU #LowCarbonEconomy § Latest #SME Instrument results: #EuropeanCommission to invest €8.9 million in 184 #InnovativeBusinesses. Most of the projects funded were in the area of ICT (36). It was closely followed by low-carbon and efficient energy systems (31) and transport (28). Italian SMEs were particularly successful with 37 beneficiaries accepted for funding, followed by firms from Spain (33) and the UK (16). Since the launch of the programme on 1 January 2014, 2208 SMEs have been selected under Phase 1 of the SME Instrument. The next cut-off for Phase 1 is 3 May 2017 [ec.europa.eu]

» April 18 2017 - #NaturalGas #Geopolitics § #OIES #Qatar Lifts its #LNG Moratorium. The recently announced intention by Qatar to lift its lon--running moratorium on new LNG projects and to produce some 20 bcma of LNG in 5 to 7 years' time is a highly significant development for the LNG industry. With its low-cost base and high condensate and LPG co-production, Qatar can compete with any of the established LNG suppliers (as well as Russian pipeline gas). This Comment assesses the implications for the market and addresses possible reasons for the timing of the announcement. The re-engagement of Qatar in the development of new LNG supplies is potentially good news for consumers but somewhat worrying for upstream players sitting on inherently high cost competing projects [...] 2017 marks the year when the growth of new LNG supply from Australia and the US will exceed demand growth from Asian and other markets, resulting in at least a soft LNG market and in all likelihood a 'glut' of supply. This is expected to clear by the early 2020s, however, with LNG supply from new projects required by the mid-2020s (with flexible Russian pipeline supply upside to Europe bridging the gap). With the lead time between FID and first LNG production being typically five years, one would expect that, despite the current glut, sponsors of projects for the next wave of supply will be [oxfordenergy.org]

» April 14 2017 - #ClimatePolicy #LowCarbonEconomy § #C40 #Arup Report. Deadline 2020 - How #Cities Will Meet the #ParisAgreement. Deadline 2020 is the first significant routemap for achieving the Paris Agreement, outlining the pace, scale and prioritization of action needed by C40 member cities over the next 5 years and beyond [UNFCCC] "According to the C40 Cities Climate Leadership Group, there is tremendous opportunity for collaboration between cities and the private sector to invest in sustainable projects, and also the need to accelerate investment and development in sustainable infrastructure in order to deliver a climate safe future. In the study Deadline 2020, the group estimates that C40 cities need to spend US$375 billion by 2020 on low carbon infrastructure in order to be on the right trajectory required to meet the ambition of the Paris Climate Change Agreement" [c40.org]

» April 14 2017 - #EnergyPolicy #IT #EnergySystem § #IEA, The report More Data, Less Energy examines the implications of connected devices on energy demand [...] The growing use of information and communications technology - digitalization - is increasingly permeating modern life, from the way people work and travel to the way they live and entertain. Digitalization is increasingly having an impact on energy systems, bringing both the potential for substantial efficiency and system improvements and raising new policy issues [...] Through its work on smart grids, system integration of renewables, electric vehicles and smart charging, and the use of technology in the oil and gas sector, the IEA has been analysing the impact of digitalization for many years [iea.org]

» April 14 2017 - #Opec #Geopolitics § Global #Oil inventories probably increased in the first quarter despite OPEC's near-perfect implementation of production cuts aimed at clearing the surplus, the International Energy Agency said. While cutbacks by OPEC and Russia since January have brought world markets "very close to balance" and should deplete stockpiles in the second quarter, inventories nonetheless expanded "marginally" because of production increases just before the deal took effect, the #IEA said in its monthly report on Thursday. The agency lowered estimates for global demand growth because of weaker-than-expected economic activity in #India and #Russia [bloomberg.com]

» April 14 2017 - #OilPrice #Opec #Shale #US #Geopolitics § More boom, more bust for #Oil. Opec went AWOL 10 years ago when it proved unable to cap the price boom, not two years ago when it declined to prevent a price bust. Notwithstanding recent pledges by some Opec and Non-Opec producers to restrain production, it is far from obvious the market has an effective swing producer or that future oil prices will be stable [petroleum-economist.com]

» April 13 2017 - #ClimateChange § New #Permafrost study underscores the critical importance of #ClimateTargets. #Nature letter. An observation-based constraint on #Permafrost loss as a function of #GlobalWarming. Permafrost, which covers 15 million km² of the land surface, is one of the components of the Earth system that is most sensitive to warming. Loss of permafrost would radically change high-latitude hydrology and biogeochemical cycling, and could therefore provide very significant feedbacks on climate change. The latest climate models all predict warming of high-latitude soils and thus thawing of permafrost under future climate change, but with widely varying magnitudes of permafrost thaw [... was] estimated a sensitivity of permafrost area loss to global mean warming at stabilization of 4.0(+1;-1.1)million km²°C^-1 (1σ confidence), which is around 20% higher than previous studies. Our method facilitates an assessment for COP21 climate change targets: if the climate is stabilized at 2°C above pre-industrial levels, we estimate that the permafrost area would eventually be reduced by over 40%. Stabilizing at 1.5°C rather than 2°C would save approximately 2 million km² of permafrost [ictsd.org]

» April 13 2017 - #ClimateFinance § #PrairieClimateCentre Report. Building a #ClimateResilientCity: #Economics and finance. Today, over half of the world's population live in cities. We know that cities will soon face increased climate change impacts, such as more frequent and intense extreme weather events. The research series Building a Climate-Resilient City by the Prairie Climate Centre outlines steps that cities can take to engage in climate risk management in a range of areas, including transportation, agriculture, electricity infrastructure, disaster preparedness and emergency management [ictsd.org]

» April 12 2017 - #ClimatePolicy #NDCs #GlobalTrade § #Ictsd Report. Trade Elements in Countries' Climate Contributions under the #ParisAgreement. The Paris Climate Agreement, reached in December 2015, is designed to drive greater climate action, while allowing countries to choose their own targets and mitigation measures. This diversity and scale-up in ambition will increase interactions between climate measures and trade. This paper analyses countries' nationally-determined climate contributions (NDCs) from a trade perspective. It assesses which countries address key trade elements, and explores options for trade frameworks to support climate efforts and ways to minimise potential conflicts between the trade and climate regimes. While trade-related elements feature prominently in countries' climate contributions, there is tremendous untapped potential to use trade for driving climate action. The paper proposes ways for future NDCs to positively incorporate more trade elements and create a mutually reinforcing relationship between the climate and trade regime [ictsd.org]

» April 12 2017 - #RenewableEnergy #GlobalEconomy § #UNEnvironment #FrankfurtSchool-#UNEP Collaborating Centre #BNEF Report. Global Trends in #RenewableEnergyInvestment 2017 finds that all investments in renewables totaled $241.6 billion (excluding large hydro). These investments added 138.5 gigawatts to global power capacity in 2016, up 9 per cent from the 127.5 gigawatts added the year before. Investment in renewables capacity was roughly double that in fossil fuel generation; the corresponding new capacity from renewables was equivalent to 55 per cent of all new power, the highest to date. The proportion of electricity coming from renewables excluding large hydro rose from 10.3 per cent to 11.3 per cent. This prevented the emission of an estimated 1.7 gigatonnes of carbon dioxide [fs-unep-centre.org]

» April 12 2017 - #Pollution #SustainablePlasticEconomy § #Adelphi Report. Stopping #GlobalPlasticPollution: The Case for an International Convention. Global plastic production is continuously increasing, reaching 322 million tonnes in 2015, and generating revenues of roughly US$750 billion for plastic manufacturers. The plastics sector is on the rise - and the amount of plastic waste is rising accordingly. Up to 13 million tons of it gets into the oceans every year. Once in the sea, ocean currents spread the plastic around the entire globe. Through increased media coverage, the problem of plastic pollution has gained increased public attention in recent years. However, international efforts to contain plastic pollution have on the whole proven ineffective. Most approaches have concentrated on the oceans, although the majority of plastic waste originates elsewhere [adelphi.de]

» April 12 2017 - #EnergyPolicy #GlobalPrimaryEnergyConsumption #GlobalEconomy § #OGFJ Paper. #OilPrice fluctuations [...] Oil is the second largest contributor to global primary energy consumption and BP's Statistical Energy Outlook suggests that it will continue to play a similar role until 2035. It is fair to argue that oil remains one of the biggest drivers of the global economy. Therefore, crude oil demand-supply dynamics critically influence price - a concern for global investors and importing and exporting countries. History presents numerous instances of crude oil price fluctuations. Whenever such fluctuations occurred, both oil rich and oil deficient countries faced challenges. Further, price fluctuations had far reaching consequences beyond demand-supply dynamics [...] Crude oil is one of the most widely traded commodities in the world, and its price is exposed to many variables. Some of the major contributors to oil price fluctuations include [ogfj.com]

» April 11 2017 - #ClimatePolicy #EnergyPolicy #EnergyEfficiency #FossilFuelSubsides #LowCarbonTransport § Chair's Summary. #G7 Rome #Energy Ministerial Meeting [...] #NaturalGas. While underlining the strategic role of the existing transit routes for gas deliveries to Europe, the Heads of Delegation agreed to continue to promote gas security through the diversification of sources and routes of supply [...] They reaffirmed the importance of greater flexibility of commercial clauses in #LNG contracts [...] They welcomed the IEA's study Global Gas Security Review 2016 and the 2016 IEA Gas Resiliency Assessment of Japan [...] Electricity security and renewable energy integration. The Heads of Delegation exchanged views on policies and challenges of deploying clean, reliable and affordable energy from all sources in support of the global energy transition and reduction of CO2 emissions [...] New energy drivers. Noting the close relationship between energy transition, economic growth, and employment, the Heads of Delegation acknowledged that G7 countries should play a leading role in facilitating investments in secure and sustainable energy including strengthening efforts in energy research and development [...] Governing energy transition. Energy efficiency. All Heads of Delegation agreed to the key role of energy efficiency as first fuel in the context of progressively reducing emissions across the energy sector [...] Inefficient Fossil Fuel Subsidies. The Heads of Delegation reiterated the commitment of phasing out inefficient fossil fuel subsidies that encourage wasteful consumption, and encouraged all countries to do so, by 2025. Low-carbonisation of transport. The Heads of Delegation exchanged their views on increasing the share of alternative fuels and electric mobility [g7italy.it]

» April 11 2017 - #EV #ElectricVehicles § #NYT. #Tesla Hits a New Milestone, Passing #GM in Valuation. Just a week after the company surpassed Ford Motor in market value, its shares closed at $312.39 on Monday, making Tesla worth about $50.9 billion, slightly more than General Motors. G.M., like Ford Motor, has been operating for more than 100 years, and in the first quarter of 2017, it sold hundreds of thousands more vehicles than Tesla, an electric car upstart, did in all of 2016. But investors are betting that Tesla, whose chief executive is Elon Musk, has room to grow as the world's appetite for electric vehicles expand [set-nav.eu]

» April 10 2017 - #ClimatePolicy #EnergyPolicy #ClimateScenarios § #DIW Berlin. Policy Brief on Energy and Climate towards 2050-Four Scenarios. Political decision-making involves uncertain future variables. Therefore, SET-Nav project investigates four alternative scenarios for global energy markets up to 2050. These four narratives, which are further detailed below, do not attempt to predict the state of the global energy system by the year 2050, but rather bound the range of plausible alternative futures by defining certain trajectories, downside risks, new trends, and 'unknown unknowns' that could significantly affect decarbonisation policy in the years to come. Hence, the present analysis should be read as a means to confront and challenge commonly held perceptions, and thereby contribute to consolidating energy and climate policy in the face of an uncertain future [set-nav.eu]

» April 8 2017 - #ClimatePolicy #SDGs #EconomicDevelopment § #UNFCCC Secretariat and #GoldStandard Collaboration. Gold Standard is pleased to announce a strategic partnership with UNFCCC secretariat, forged with a shared goal of supporting non-party stakeholders in accelerating progress toward the Sustainable Development Goals. The collaboration aims to meet the need of non-party stakeholders, specifically corporates and subnational authorities, to communicate the impact of their sustainable development actions and will deliver guidance and tools to meet this expectation. The ability to use, make decisions and report on reliable data related to the sustainable development impacts of their activities is imperative for gaining stakeholder trust and support. Gold Standard and UNFCCC secretariat are seeking stakeholder input on the work plan to develop the guidance and tools referred to below. The scope of work is included in the consultation documents section [goldstandard.org]

» April 7 2017 - #EnergyPolicy #Geopolitics #EconomicDevelopment #China § #AbO. Chinese energy looks abroad. On March 22, 2017, China Petroleum & Chemical Co., Ltd. (so-called "Sinopec") entered into a sales and purchase agreement with Chevron Global Energy ("Chevron") to acquire 70% Chevron South Africa (Proprietary) Limited [...] and related interests and 100% equity interest in Chevron Botswana with a total transaction amount of approximately $ 900 million [...] Over the past five years, Sinopec has invested in downstream projects such as oil refining, warehousing and petrochemicals in six countries with a total investment of more than $ 6 billion. The acquisition is also an opportunity for Sinopec to take advantage of the 'Belt and Road initiative'. Clearly Sinopec wishes to continue expanding and deepening mutually beneficial cooperation with relevant countries, especially on the scale of cooperation in different levels. In November 2015, a wholly owned subsidiary of Sinopec,the International Petroleum Exploration and Development Corporation(IPEDC) and Portugal Galp Energia signed an equity subscription agreement, through the subscription of additional shares and claims, access to Galp Energia in Brazil and the relative Dutch Branch of Galp Energia with 30% stake (about 3.54 billion US dollars), considering the capital increase and part of the follow-up project on construction investment, the total capital injection of about 5.18 billion US dollars [...] China is currently the world's second largest economy, but the dependence on crude oil has exceeded more than 55%. Taking into account the background of the world oil, energy has become the bottleneck of development. In recent years, Sinopec's crude oil production has been getting slower and slower, in 2009 there was only than 1.5% increasing of extraction than in 2008. In the first half of 2016, Sinopec crude oil production fell 5.98% for the first time [abo.net]

» April 7 2017 - #Geopolitics #US #China § #Belfercenter. Destined for War: Can America and China Escape Thucydides's Trap? A perilous trap but uncertain outcome. Today, an irresistible rising China is on course to collide with an immovable America. The likely result of this competition was identified by the great historian Thucydides, who wrote: "It was the rise of Athens and the fear that this instilled in Sparta that made war inevitable." But the point of Destined for War is not to predict the future but to prevent it. Escaping Thucydides's Trap is not just a theoretical possibility. In four of the 16 cases, including three from the 20th century, imaginative statecraft averted war. Can Washington and Beijing steer their ships of state through today's treacherous shoals? Only if they learn and apply the lessons of history. Avoiding catastrophe [belfercenter.org]

» April 7 2017 - #NuclearEnergy #US § #CSIS analysis. #Westinghouse's Bankruptcy and its Implications. The bankruptcy and the underlying troubles at the two U.S. nuclear project sites are a major damper on the already weak appetite for new builds in the United States, at least for conventional-scale reactors (i.e., non-small modular reactors). First to be approved for construction and operation under the current licensing regime after the Three Mile Island accident in the late 1970s, the two projects became the litmus test for new builds in the United States. It became a crucial test for the U.S. industry to complete them on time and under budget. The latest adjustment to completion schedule sets the projects very tightly against the federal deadline of December 31, 2020 (service commencement), to qualify for the nuclear energy production tax credit, which was an important support for nuclear energy out of the Energy Policy Act of 2005. Also, a collapse of the Vogtle project could seriously imperil future political support for nuclear projects, as it is a recipient of an $8.3 billion federal loan guarantee by the U.S. Department of Energy. Additionally, a future plan for new builds could face significant headwinds if the project failures shift significant costs to the rate payers in the affected states [...] Westinghouse Electric Co., the U.S. subsidiary of Japan's Toshiba Corp. since 2006, filed for bankruptcy on March 29. The company believes that the bankruptcy will allow it to drop its money-losing construction operation and reorganize around the nuclear fuel and power plant servicing lines of businesses that continue to be highly profitable. The bankruptcy stems largely from the significant delays and cost overruns at the two nuclear projects in the United States-two at the Vogtle site in Georgia and two at the V.C. Summer site in South Carolina-which can be attributed to multiple factors, including additional regulatory requirements post Fukushima, multiple financial and legal disputes, and fixed-price contracts with project owners. Whatever the main culprit, the bankruptcy has several major implications. On the domestic front, the ongoing projects in Georgia and South Carolina face major uncertainties. Westinghouse is likely hard pressed to abandon the work, as doing so would incur billions of dollars in damage claims. Likewise, the owners of the Vogtle and V.C. Summer projects-already three to four years behind the original schedule-could walk away, as the projects are only about one-third complete, or turn to another builder to take the projects to the finish line if they fail to strike a deal with Westinghouse or Toshiba to salvage the relationship [csis.org]

» April 7 2017 - #Oil #Geopolitics § Oil jumped as the #US cruise-missile attack against #Syria roiled global financial markets. Futures in New York and London surged more than 2 percent to the highest in a month. The strike early Friday morning targeted hangars, planes and fuel tanks at one Syrian military airfield, according to a U.S. official. Syria borders Iraq, OPEC's second-biggest crude producer. The news rippled across financial markets, with the yen and gold advancing as stocks declined [...] West Texas Intermediate for May delivery on the New York Mercantile Exchange rose as much as $1.24 to $52.94 a barrel, the highest level since March 7, and traded at $52.53 by 9:36 a.m. in London. Prices are up 3.9 percent this week, heading for a second weekly gain. Total volume traded was about 217 percent higher than the 100-day average [...] Brent for June settlement on the London-based ICE Futures Europe exchange surged as much as $1.19 to $56.08 a barrel, also the highest level since March 7. Prices are up about 4 percent this week. The global benchmark crude traded at a premium of $2.74 to June WTI [bloomberg.com]

» April 6 2017 - #EnergyTransition #EU #Coal #LowCarbonEconomy § #Eurelectric. The European #PowerSector is determined to play a key role in providing clean energy for all Europeans and make electricity a central energy carrier for the low carbon economy. That is the message emerging from a meeting of EURELECTRIC's Board of Directors on 23 March 2017, where the sector agreed its joint position on the Clean Energy Package. In a statement adopted by the Board of Directors, the sector reiterates its commitment to deliver on the Paris Agreement. In addition, it announces its intention not to invest in new-build coal-fired power plants after 2020 [eurelectric.org]

» April 6 2017 - #ClimateChange #ClimateScenarios #EU § German Environment Agency (#UBA) #FraunhoferInstitute #Ecologic Study. Longterm climate protections scenarios of six European countries. Core prerequisite for reaching global ambitous climate targets is a nearly carbon-free economy by mid-century. In this context a number of EU member states have developed long-term climate scenarios and thus initiated first discussions on national and European level. However, based on national circumstances, political orientation and differences in national starting points, the scenarios differ from each other in the targeted ambition, the methodological approach and the coverage of the studies. This paper presents a detailed analysis of six country studies [umweltbundesamt.de]

» April 6 2017 - #Energy #WorldEconomy § #Renewable global future report. This latest report from #REN21 documents global views about the feasibility of achieving a 100% renewable energy future. The objective of this report is to gather opinions about the feasibility of a 100% renewable energy future, and the macro-economic impacts it would entail. In so doing, the report reflects on the debates of 2013, and tracks their evolution to the present time. Some remain, some have changed, some have been overtaken by progress, and new ones have arisen. They are summarised here as the Great Debates in renewable energy [ren21.net]

» April 5 2017 - #NuclearEnergy #NuclearSecurity § National Academy of Sciences Report. Tracking and Assessing Governance and Management Reform in the Nuclear Security Enterprise [...] These studies found that overlapping and poorly defined functions and authorities have fostered inefficient and overly risk-averse procedures and work culture within the Department of Energy (DOE) and the National Nuclear Security Administration (NNSA). Furthermore, they found that the lack of clear allocation of responsibilities between the management and operating (M&O) contractors and their federal sponsors has contributed to the deterioration in their relationship. Establishing a clear understanding of who is responsible and accountable for actions across managerial levels and institutional boundaries is a building block for other essential reforms as well, such as tackling burdensome practices and sustaining desired organizational change [nap.edu]

» April 5 2017 - #Oil #SaudiArabia #Economy § #OxfordEnergy Paper. The #IPO of #SaudiAramco: Some Fundamental Questions [...] the IPO is mainly about income diversification and boosting the resources of the Public Investment Fund. This is fundamentally different from 'real' economic diversification, which is often associated with expanding the economic base and job creation. As the experience of neighboring countries has shown, sovereign wealth funds predominantly diversify their assets by investing in foreign markets rather than in diversification of the domestic economy into employment creating sectors. Finally, this comment attempts to clarify some confusion regarding the IPO, particularly in relation to the ownership of the reserve base with some arguing that 'there are reasons to be cautious about expecting much more transparency' because 'it is far from clear that any share sale would include ownership of the reserves in the ground'. As argued in this paper, the issue of ownership of reserves is not that relevant as Saudi Aramco, in which investors will have an ownership stake, has and will continue to have an exclusive concession to exploit the underground reserves including the right to monetize any potential growth in these reserves [oxfordenergy.org]

» April 4 2017 - #NaturalGas #Geopolitics § #Qatar to Drill in World's Biggest Gas Field After 12-Year Freeze. Qatar Petroleum plans to start a new development in the offshore North Field, ending a 12-year ban on new projects that allowed the company to assess how its current rate of extraction affects the giant reservoir it shares with Iran. The patch, in the southern section of the field, will have a capacity of 2 billion cubic feet per day, or 400,000 barrels of oil equivalent, and should start production in five to seven years, Chief Executive Officer Saad Sherida Al Kaabi told reporters Monday at Qatar Petroleum’s headquarters in Doha. Boosting natural gas production at home and searching for similar assets abroad signals Qatar Petroleum's confidence in the longevity of gas demand, and its ability to remain a low-cost supplier in a market that has slumped amid a glut driven by output from U.S. shale and Australia [bloomberg.com]

» April 4 2017 - #GreenEconomy #ClimateChange #WorldEconomy #Energy #EGA § #ICTSD policy brief. The Environmental Goods Agreement: How Would #US Households Fare? The Environmental Goods Agreement (EGA), initiated in 2014, is intended to reduce tariffs on a list of goods by the signatories, after which concessions will be extended to all WTO members based on the most-favoured-nation principle. While the main objective for reducing tariffs on environmental goods in an accelerated manner is environmental concerns, including the need to address climate change, it also makes good economic sense. Among the benefits are reduced consumer prices for environmental goods. Moreover, EGA tariff elimination can spur the uptake of energy efficient goods, in turn resulting in energy savings. This paper looks into the case of possible consumer benefits of the EGA in the United States. The authors find that total household savings from the price effect of EGA tariffs cuts overall would amount to roughly $845 million per year, disproportionally benefitting lower-income households. Moreover, the paper estimates that an increased use of energy-efficient light bulbs could save 238 million kilowatt hours, which is equivalent to 124,000 tons of coal each year, or 120% of the greenhouse gas emissions from coal in the state of Maine [ictsd.org]

» April 4 2017 - #RenewableEnergy § #IRENA Renewable Capacity #Statistics 2017 shows that renewable energy generation capacity increased by 161 gigawatts (GW) globally in 2016 - the strongest year ever for new capacity additions. IRENA's new data shows that last year's additions grew the world's renewable energy capacity by 8.7 per cent, with a record 71 GW of new solar energy leading the growth. 2016 marked the first time since 2013 that solar growth outpaced wind energy, which increased by 51 GW, while hydropower and bioenergy capacities increased 30 GW and 9 GW respectively - the best ever year for growth in bioenergy capacity. Geothermal energy capacity increased by just under 1 GW [irena.org]

» April 3 2017 - #ClimatePolicy #NDCs § #Oeko-Institut #StockholmEnvironmentInstitute #INFRAS for the German Environment Agency (UBA). Environmental integrity under Article 6 of the #ParisAgreement. The paper explores key issues and options to achieve environmental integrity under Article 6 of the Paris Agreement. It proposes that environmental integrity in context of Article 6 means that using international transfers does not result in higher global GHG emissions than if mitigation targets of NDCs had been achieved only through domestic mitigation action. The paper identifies four issues that can affect the global GHG emissions outcome from international transfers: robust accounting for international transfers; the quality of units from mechanisms; the ambition of the NDC target of the transferring country; and presence of incentives and disincentives for further mitigation action. A particular risk is the international transfer of "hot ai"“. Based on global GHG emissions and the communicated NDCs, it is estimated that global mitigation action be undermined by up to 68% if all hot air in current NDCs would be transferred. The paper identifies and discusses seven options to mitigate environmental integrity risks from international transfers, including principles for international guidance on mechanism design and communication of NDCs, international reporting and review, eligibility criteria, limits on international transfers, exchange or discount rates, green investment schemes, and carbon clubs. Finally, the paper explores for crediting mechanisms how additionality could be demonstrated and how emission baselines could be set under the new framework of the Paris Agreement where nearly all Parties have communicated a mitigation target in their NDC [dehst.de]

» April 3 2017 - #EnergyPolicy #Coal § A major role in delivering #EnergyAccess and #Security long into the future. There is huge demand in South and Southeast Asia (#India, #VietNam, #Indonesia, etc.), where coal-based electricity is one of the preferred options to increase power generation in growing economies with electricity shortage. North Asia (#Japan, #Korea and Chinese #Taipei) also continues its solid consumption. Even #China, where consumption is said to have peaked, will continue to be the largest coal consumer by far in the coming years. While the bulk of coal plant retirements is occurring in Europe and the United States, the construction of new coal power plants is happening in other parts of the world, mostly in Asia [...] Coal continues to be the backbone of global electricity generation and still makes up 40% of global electricity. It will continue to play a major role in delivering energy access and security long into the future. While recent years have been challenging for the industry, 2016 has shown coal's resilience and importance to the global energy system [worldcoal.org]

» April 3 2017 - #EnergyPolicy #CO2Emmissions § New Monitoring and Verification Platform for #EnergyEfficiency adopted by #EU countries. The #multEE project is pleased to release its video tutorial on the innovative Monitoring & Verification Platform (MVP). This IT tool responds to the needs of countries who seek practical and easy-to-use solutions to better assess the impact of their implemented energy saving measures and plans. The MVP tutorial is accompanied by a user manual and an extensive list of bottom-up measures from the building, industry and transport sector. The application is based on the collection of bottom-up (BU) data on a number of plans and measures, their implementation, energy savings, CO2 emissions and implementation costs. It allows calculating savings by using reference values; it can be handled by users with limited technical knowledge and, overall, it facilitates information exchange between national and local levels [multee.eu]

» April 3 2017 - #ClimatePolicy #EnergyPolicy #Oil § How #Corruption Fuels #ClimateChange [...] in June 2016, the US Securities and Exchange Commission published a rule, under Section 1504 of the 2010 Dodd-Frank Act, requiring oil, gas, and mining companies to disclose all payments made to governments on a project-by-project basis. If the SEC had issued its rule earlier, Shell and Eni most likely would not have gone ahead with the OPL 245 deal, because they would have had to disclose their payment. But opposition from the oil industry delayed the rule, so the companies were able to conceal their payment [project-syndicate.org]

» March 31 2017 - #Oil #Shale #Hedging #Future § Oil Traders Warn There's a Supply Crunch Looming. With oil prices hovering around $50 a barrel, current project spending is focused on "short-cycle" projects involving U.S. shale deposits, Daniel Jaeggi, president of Mercuria Energy Group Ltd., said at the FT Commodities Global Summit in Lausanne, Switzerland [...] Hedging activity by these same producers is keeping future prices low until 2020, which is dissuading investment in major oil project [bloomberg.com]

» March 31 2017 - #EnergyPolicy § #Japan Is Investing Heavily in Overseas #Renewables [...] Several years of US$20-30 billion annual domestic Japanese solar PV investment-over 2013 through 2015-made Japan the second largest installer of solar PV globally behind China. Japanese companies, working in their own backyard, have gained important expertise and a deep understanding of the full implications of rapidly-evolving renewable energy technology. It's also raised awareness of investment opportunities emerging elsewhere in the inevitable transition toward a lower-emission global energy market [...] Even with all this activity, Japanese solar investment is actually being wound back to more sustainable levels. But an interesting companion trend is emerging: Leading Japanese companies are starting to look overseas for further opportunities in the renewable energy sector [ieefa.org]

» March 29 2017 - #EnergyPolicy #US #CoalIndustry § #IEEFA 2017 U.S #Coal outlook. The U.S. coal industry, after suffering one of its worst years ever in 2016, will continue its decline in 2017, though at a slower pace. Consumption, production and prices will slump, but by a small amount compared to that seen in recent years. The overall effect will be one of flat performance at best. While the industry will likely gain limited market share in day-to-day competition in regional electricity markets due to a relative increase in the price of natural gas, any such gains will be marginal [...] Consumption of thermal coal, which is burned for electricity generation, is down 28% in the U.S. over the past decade, declining to 738 million tons in 2015 from 1.02 billion tons in 2005-an average annual drop of 29 million tons. Estimates of coal-consumption decline for 2016 range from 26 million tons (a 3.5 percent decline from 2015) and 57 million tons (a 7.7 percent decline from 2015)-a decline that was actually an improvement over more precipitous year-to-year losses in 2011 and 2014 [ieefa.org]

» March 29 2017 - #Coal #EnergyPolicy #US #ClimatePolicy § #Trump signed an executive order rolling back a temporary ban on mining coal and a stream protection rule imposed by the Obama administration. The order follows the president's campaign promise to revive the struggling coal industry and bring back thousands of lost mining jobs in rural America [...] But industry experts say coal mining jobs will continue to be lost, not because of blocked access to coal, but because power plant owners are turning to natural gas. At least six plants that relied on coal have closed or announced they will close since Trump's victory in November, including the main plant at the Navajo Generating Station in Arizona, the largest in the West. Another 40 are projected to close during the president’s four-year term [washingtonpost.com]

» March 29 2017 - #Oil #Geopolitics § Ratings agency #Fitch downgraded #SaudiArabia's credit rating by one notch on concerns that the oil-exporter will struggle to fully implement its ambitious economic measures to wean the country off its oil dependence [...] Ratings firm raises concerns on Kingdom's planned economic measures in response to #OilPrice declines [wsj.com]

» March 29 2017 - #GHGEmissions #ClimatePolicy #GlobalGrowth #WorldEconomy #WorldBank report § #CarbonTax Guide : A Handbook for Policy Makers. Recent years have seen renewed and growing interest in carbon taxes that put a price on greenhouse gas (GHG) emissions. This resurgence in interest has come as over three-quarters of the world have developed Nationally Determined Contributions under the Paris Agreement and are looking for cost-effective ways to achieve these emission reduction goals. It has also developed alongside a gradual shift toward taxes on goods and services, with many jurisdictions seeking to use the tax system to achieve greater economic efficiency and to pursue a range of policy goals beyond raising revenue. Experience has shown carbon taxes to be versatile instruments that are capable of being adapted to a wide range of policy goals and national contexts. This Guide provides a practical tool to help policymakers determine whether a carbon tax is the right instrument to achieve their policy goals and to support them in designing and implementing a tax that is best suited to their specific needs, circumstances and objectives. The guide provides both conceptual analysis and important practical lessons learned from implementing carbon taxes around the world [worldbank.org]

» March 28 2017 - #EnergyFinance #ClimateFinance § The Productivity of International Financial Institutions' (#IFIs) Energy Interventions. This report assesses the operational principles, strategies, and investment portfolios of seven key bilateral and multilateral IFIs to identify best practice on a qualitative basis. It also prepares the way for later quantitative analysis [climatepolicyinitiative.org]

» March 27 2017 - #EnergyPolicy #ClimatePolicy #UK #BEIS § Updated #Energy and #Emissions projections 2016. This report presents the 2016 projections of the UK's energy demand and greenhouse gas (GHG) emissions up to 2035. The main projection is the 'reference case', which is one view of how the UK energy and emissions system could evolve if existing and agreed government policies were implemented but no new policies or changes to existing policies were introduced. Other views of the future are possible and there are significant uncertainties in these projections [...] The UK's primary energy demand is projected to fall by a total of 6% over the next 10 years, before rising to 2% above current levels by the end of 2035. Up to 2020, the reference scenario reflects current power sector policy. Under this central projection, emissions from the power sector fall by 52% from 113 MtCO2e in 2015 to 54 MtCO2e in 2020. Low carbon generation is projected to increase from 47% of the generation mix in 2015 to 61% in 2020, whilst final electricity demand falls by 1% from 322 TWh in 2015 to 318 TWh in 2020. Beyond 2020, the power sector reference scenario includes assumptions that go beyond current Government policy, and is therefore illustrative [...] Primary energy demand is projected to fall to 182 Mtoe (million tonnes of oil equivalent) in 2025 from 196 Mtoe in 2016 before rising back to 2% above current levels in 2035 [..] a 59% decline in solid fuel use between 2016 and 2035. This is mainly due to a decreasing reliance on coal for electricity generation. In comparison, natural gas use is projected to fall by 24% between 2016 and 2035. Currently, the amount of natural gas used for electricity generation approximately equals that used for cooking and heating in households. However, the amount of gas used for electricity generation is projected to decrease by 70% whereas the amount used by households is projected to increase by around 17% over this period. Oil use is projected to decline by 4% to 2025, reflecting declining use in road transport, before increasing slightly to 2035 due to increasing use in air transport. In contrast, the use of renewables and nuclear fuels for electricity generation is projected to increase strongly with new nuclear generating capacity scheduled to come online in the mid-2020s [...] a phasing out of coal-fired generation with unabated gas-fired generation gradually being displaced in the longer term by more renewables and nuclear based generation as well as increasing net imports via interconnectors [gov.uk]

» March 27 2017 - #EnergyPolicy #EnergyUnion #Geopolitics #AtlanticCouncil Brief § #Energiewende: From #Germany's Past to #Europe's Future? Germany's historical experience explains how the energy transition (Energiewende) came about, and largely explains the resilience of the policies to abandon nuclear power and to scale-up renewables in the face of the challenges they have posed to Germany's consumers, utilities, and international competitiveness. Whereas the success of the Energiewende to date has come from the way it takes a unifying approach to energy, environment, and labor policies, its success will require expanding the scope from a German to an EU-wide scale [atlanticcouncil.org]

» March 27 2017 - #G7 #E7 #WorldEconomy #GlobalGrowth #WorldGDP #World2050 #pwh Report § Latest long-term global growth projections to 2050 for 32 of the largest economies in the world, accounting for around 85% of world GDP. Key results of our analysis (as summarised also in the accompanying video) include: The world economy could more than double in size by 2050, far outstripping population growth, due to continued technology-driven productivity improvements; Emerging markets (E7) could grow around twice as fast as advanced economies (G7) on average; As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by #China (1st), #India (2nd) and #Indonesia (4th); The #US could be down to third place in the global GDP rankings while the #EU27's share of world GDP could fall below 10% by 2050; #UK could be down to 10th place by 2050, #France out of the top 10 and #Italy out of the top 20 as they are overtaken by faster growing emerging economies like #Mexico, #Turkey and #Vietnam respectively; But emerging economies need to enhance their institutions and their infrastructure significantly if they are to realise their long-term growth potential [pwc.com]

» March 24 2017 - #EnergyTransition #RenewableEnergy #LowCarbonEconomy #EnergyEfficiency #ClimateChange #GlobalGDP #Irena Report § Global energy-related carbon dioxide (#CO2) #Emissions can be reduced by 70% by 2050 and completely phased-out by 2060 with a net positive economic outlook. The findings, published in Perspectives for the Energy Transition: Investment Needs for a Low-Carbon Energy Transition presents the case that increased deployment of renewable energy and energy efficiency can achieve the emissions reductions needed to keep global temperature rise to no more than two-degrees Celsius, avoiding the most severe impacts of climate change. While overall the energy investment needed for decarbonising the energy sector is substantial - an additional USD 29 trillion until 2050 - it amounts to a small share (0.4%) of global GDP. IRENA's macroeconomic analysis suggests that such investment creates a stimulus that, together with other pro-growth policies, will: boost global GDP by 0.8% in 2050; generate new jobs in the renewable energy sector that would more than offset job losses in the fossil fuel industry, with further jobs being created by energy efficiency activities, and; improve human welfare through important additional environmental and health benefits thanks to reduced air pollution. The report states that emissions will need to fall continuously to 9.5 gigatonnes (Gt) by 2050, down from 32Gt in 2015, to limit warming to no more than two degrees above pre-industrial temperatures, and that 90% of this energy CO2 emission reduction can be achieved through expanding renewable energy deployment and improving energy efficiency [irena.org]

» March 23 2017 - #EnergyPolicy #NationalEnergySystems § #WEF. #GlobalEnergy Architecture Performance Index Report 2016. The Energy Architecture Performance Index (EAPI), developed by the World Economic Forum, aims to provide an additional set of data to help leaders benchmark the current performance of national energy systems, and inform decision-making in the context of the changes under way in the global energy landscape [weforum.org]

» March 23 2017 - #GlobalEconomy #Oil #SuperCycle #Inventories #Capex #Opec #US #Russia #Iran #Iraq #Geopolitics § The fact that OilPrices remain in a bearish trend despite the largest cut in history and money managers' net long exposure to crude at 10-month highs, shows us that the market is not only very well supplied. It remains oversupplied. Bulls maintain that the market will be balanced in six months. They said the same six months ago. OPEC and oil producers should focus on being a competitive, flexible and reliable suppliers. Further cuts will only weaken their position [cnbc.com]

» March 23 2017 - #GlobalEconomy #Oil #SuperCycle #Inventories #Capex #Opec #US #Russia #Iran #Iraq #Geopolitics § The fact that OilPrices remain in a bearish trend despite the largest cut in history and money managers' net long exposure to crude at 10-month highs, shows us that the market is not only very well supplied. It remains oversupplied. Bulls maintain that the market will be balanced in six months. They said the same six months ago. OPEC and oil producers should focus on being a competitive, flexible and reliable suppliers. Further cuts will only weaken their position [cnbc.com]

» March 22 2017 - #GlobalEconomy #LowCarbonEnergy § #Statoil #SustainabilityReport. A strategy to create a #Lowcarbon advantage: Building a high value, lower carbon oil and gas portfolio. Since the energy transition cannot happen overnight, Statoil need to ensure that is producing the right hydrocarbons and that they are produced as efficiently as possible. That means Statoil focuses on developing carbon efficient and high value oil and gas projects. Statoil also reduces greenhouse gas emissions from its own operations through accelerated initiatives to increase energy efficiency and minimise flaring and methane. Creating a material industrial position in new energy solutions. Statoil aims to provide energy for a low carbon future which means that renewables and other new energy solutions are a core activity for us. Statoil will develop renewables at scale, expanding its already sizeable offshore wind business, while exploring new opportunities in solar and geothermal power. Statoil is also focusing on key low carbon solutions such as hydrogen value chains and leveraging its experience in carbon capture and storage to reduce emissions from the use of oil and gas emissions. Accountability and collaboration. There are many uncertainties in the transition to low carbon energy but the overall direction is clear [statoil.com]

» March 22 2017 - #NulearEnergy #Geopolitics § Is a UN ban the answer? On March 27, 2017, a majority of the world's nations will gather at the #UnitedNations headquarters in New York City to begin historic negotiations on a treaty to ban #NucleaWeapons. [...] On March 27 in New York City, UN negotiations for a "legally binding instrument to prohibit nuclear weapons will begin. How did we reach this historic turning point? Ireland, together with Brazil, Egypt, Mexico, New Zealand, and South Africa, first put forward the idea of a nuclear-weapon ban treaty at an NPT meeting in 2014 [thebulletin.org]

» March 22 2017 - #GlobalEconomy #Energy #ClimateChange § Decoupling of #GlobalEmissions and #EconomiGrowth confirmed. Global emissions of carbon dioxide stood at 32.1 billion tonnes in 2015, having remained essentially flat since 2013. The #IEA preliminary data suggest that electricity generated by renewables played a critical role, having accounted for around 90% of new electricity generation in 2015; wind alone produced more than half of new electricity generation. In parallel, the global economy continued to grow by more than 3%, offering further evidence that the link between economic growth and emissions growth is weakening. In the more than 40 years in which the IEA has been providing information on CO2emissions, there have been only four periods in which emissions stood still or fell compared to the previous year. Three of those - the early 1980s, 1992 and 2009 - were associated with global economic weakness. But the recent stall in emissions comes amid economic expansion: according to the International Monetary Fund, global GDP grew by 3.4% in 2014 and 3.1% in 2015. The two largest emitters, China and the United States, both registered a decline in energy-related CO2 in 2015 [iea.org]

» March 21 2017 - #GlobalEconomy #OilFinance #Future § Physical #OilMarket weakness hits $50-billion #HedgeFunds' bet [...] The value of long positions for Brent and West Texas Intermediate crude, the global and U.S. benchmarks, reached a combined $56 billion on Feb. 23, the highest since the Organization of Petroleum Exporting Countries announced the output cuts in late November. Those bets, measuring futures and options positions, indicated that investors expected prices to rise. In recent days, the value of those contracts has dipped to $49.3 billion. In barrel terms, speculative trades reached a record on Feb. 24 [bloomberg.com]

» March 21 2017 - #ClimatePolicy #ParisAgreement § New Opportunities for #EU-#China-#Africa Trilateral Cooperation on Combatting #ClimateChange. The entry into force of the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC) on 4 November 2016 is a milestone towards safeguarding an opportunity for our species to live in peace and dignity on this planet. It is the first universal, legally binding instrument requiring both developed and developing countries to tackle climate change as a joint responsibility. While developed countries reconfirmed their obligation to provide support to developing countries under the Paris Agreement, there is also a growing recognition of the importance and potential of new partnerships among and with developing countries through South-South and trilateral cooperation [die-gdi.de]

» March 21 2017 - #GlobalEconomy § #Iraq Plans to Boost #Crude #Oil Production and Exports This Year. Iraq pumped 4.57 million barrels a day of oil in February and plans to boost output later in the year even as the OPEC member reaffirmed its commitment to the group's decision to cut production to counter a global glut. The country plans to increase output to 5 million barrels a day by the end of 2017, Oil Minister Jabbar Al-Luaibi said Wednesday at a news conference in the southern city of Basra. Iraq exported 3.87 million barrels a day from its southern and northern shipment hubs in February [bloomberg.com]

» March 21 2017 - #GlobalEconomy § Which countries are achieving the #UN #SustainableDevelopment Goals fastest? Across all 17 goals, Sweden tops the list of countries surveyed. It is, on average, 84.5% of the way to achieving the targets envisaged for 2030. Following closely were Scandinavian neighbours, Denmark and Norway, with Finland in fourth place. Western European countries, plus Iceland (ninth), took the remainder of the top 10 slots and four of the top 20. Also in the top 20 were Canada (13th), the Czech Republic (15th) and Slovenia (17th). Asia-Pacific’s top performers Japan, Singapore and Australia rounded off the list at 18th, 19th and 20th, respectively [world-economic-forum]

» March 20 2017 - #ClimatePolicy #Adaptation § Think global, act global. Cities can't lead on #ClimateChange #Mitigation [...] if local sea level rise is the problem in a given city, then reducing that city's emissions is an ineffective policy mechanism for dealing with it. Budgets being limited, the city might be better off building barrier walls and drainage systems. On the other hand, if global emissions reduction is the goal, then cities are an inefficient policy platform for achieving it. Consequently, national policy that relies on subnational governments will likely fail to meet national pledges to global mitigation goals, because those goals will be displaced by increasingly urgent local adaptation needs. This is not a call for first-world cities to save themselves by abandoning mitigation for adaptation; rather, the conflicting pressures on local governments show that collective solutions based on national (and potentially global) policies are needed to adequately limit global emissions. Efforts by cities and other subnational governments will not be enough [thebulletin.org]

» March 20 2017 - #Oil § #Shell divests #OilSands interests in #Canada for net consideration of $7.25 billion. Under the first agreement, Shell will sell to a subsidiary of Canadian Natural Resources Limited ("Canadian Natural") its entire 60 percent interest in AOSP, its 100 percent interest in the Peace River Complex in-situ assets, including Carmon Creek, and a number of undeveloped oil sands leases in Alberta, Canada. The consideration to Shell from Canadian Natural is approximately $8.5 billion (C$11.1 billion), comprised of $5.4 billion in cash plus around 98 million Canadian Natural shares currently valued at $3.1 billion. Canadian Natural is one of Canada's largest energy companies and a leader in the oil sands, with a market capitalisation of approximately $35 billion (C$46 billion). Separately and under the second agreement, Shell and Canadian Natural will jointly acquire and own equally Marathon Oil Canada Corporation ("MOCC"), which holds a 20 percent interest in AOSP, from an affiliate of Marathon Oil Corporation for $1.25 billion each, to be settled in cash. The combination of these transactions will result in a net consideration of $7.25 billion to Shell [youroilandgasnews.com]

» March 20 2017 - #Oil #GlobalEnergy § Rising U.S. production has partly offset the reduction in flows from the #OPEC countries in the Middle East. Even though most of this pickup won't show up in the transit figures, as American oil output tends to be consumed domestically, the country's crude exports have nevertheless risen dramatically. This will boost the volume of oil at sea, particularly as more U.S. crude is moving over longer distances. U.S. crude exports jumped as output recovery met seasonal refining slump. There may also be a seasonal element in play here. The U.S. refining sector typically performs heavy maintenance as winter draws to an end, with crude oil intake this year down by 850,000 barrels a day between January and February. This, too, could be helping to limit the impact of the OPEC cuts on the volume of oil in transit and on the volume of oil in storage tanks, too [bloomberg.com]

» March 17 2017 - #ClimateFinance #CarbonMarkets #EnergyPolicy #Geopolitics § #China is moving closer to a #CarbonTax for cutting #Emissions and away from the EU's #EmissionsTrading model. For two years now, China has been piloting a carbon market modelled on the EU's emissions trading system (ETS), which tries to bridge free market economics with climate action. But the project is behind schedule and speaking in Brussels last week, Yi Wang, a member of China's national people's congress and vice-president of the Chinese Academy of Sciences said Beijing would not "take the lead" in linking the two carbon markets [...] "Maybe the market is one method but I would also have another choice: a carbon tax" [ieefa.org]

» March 17 2017 - #RenewableEnergy #Finance § #IEEFA report. Why the World's Biggest Sovereign Wealth Fund Should Invest in Global Renewable Energy Infrastructure. Global investment markets in renewable energy infrastructure are growing rapidly, returns are reliable, and the sector benefits from a positive outlook. These are the essential findings of this report, which describes how assets bought and sold across this space-in wind farms and solar plants-yield returns and retain value. In June, lawmakers will consider granting a mandate for the US$880 billion Government Pension Fund Global (GPFG) to invest in infrastructure including renewable energy, which has become by far the most significant sub-sector in this asset class. The manager of the Fund, Norges Bank, recommends up to 5 percent of the Fund be invested in global infrastructure. Norway's Finance Ministry has been reluctant to approve such a move, however, citing concerns over assorted risks, but Parliament has the authority to advance the mandate. This report is meant to inform the dialogue. Infrastructure is an established asset class embraced by many of the world's leading investment funds. In 2016, 62 percent of sovereign wealth funds held infrastructure investments, and an additional 7 percent were considering doing so. This report focuses on unlisted infrastructure, a sector that is dominated by renewable energy but also includes public roads, ports, railways, and water and sanitation facilities [ieefa.org]

» March 17 2017 - #ClimatePolicy #India § Centre for Science and Environment (#CSE) brief. #GlobalStocktake under #ParisAgreement. The architecture of the Paris Agreement is a hybrid and provides for both bottom-up and top-down elements. While it can be argued that the Agreement predominantly comprises bottom-up elements, marked by countries choosing their own country-specific climate action plans and targets, there are also topdown mechanisms to consolidate and strengthen the implementation of the Agreement. One such mechanism is the Global Stocktake (GST) mentioned in Article 14 of the Paris Agreement, which serves as a crucial review exercise to periodically assess collective progress toward the Agreement's long-term goals, enhance implementation of the Agreement and scale ambition. The Global Stocktake gains further relevance as it is one of the few elements of the Paris Agreement that explicitly talks about taking equity into consideration. The first Global Stocktake will be undertaken in 2023 and every five years thereafter. This policy brief reviews the status of negotiations with regard to GST, puts forth the design of the Global Stocktake and highlights key policy recommendations [cseindia.org]

» March 17 2017 - #RenewableEnergy #EV #EnergyFuture #Transport § #Irena Technology brief. #ElectricVehicles. The global stock of electric vehicles (EVs) reached 1 million in 2015 and exceeded 2 million by the end of 2016. Yet faster growth is needed for EVs to fulfil their role in the global energy transition, both through lowering vehicle emissions and boosting renewable energy use. This brief outlines the technological and policy advances still needed for EVs to help drive the transition to a sustainable global energy future. Increasing reliance on EV batteries and charging stations would support higher shares of solar and wind power, the key variable renewable energy (VRE) sources expected to be prominent in future power grids. Transport accounts for about 30% of global energy use [irena.org]

» March 17 2017 - #RenewableEnergy #BioJetFuel #ClimateChange § #Irena Technology brief. #Biofuels for aviation. Developing and promoting biofuels for aviation will be essential to reduce carbon emissions from commercial aviation. As a first step, some pioneering airports have already incorporated bio-jet fuel into their refuelling systems. Yet wider bio-jet adoption is constrained by high costs compared to fossil-based jet fuels. New policy approaches are needed to set international standards and ensure co-ordination to incentivise bio-jet development. The aviation sector is one of the largest emitters of greenhouse gases in the world, at 2% of the human-induced total. The sector’s transition to sustainable, renewable fuels, therefore, is crucial to meet the international climate targets set forth in the 2015 Paris Agreement. This brief examines how the expansion of biofuels for jet aircraft can reduce emissions substantially compared to fossil-based jet fuel [irena.org]

» March 17 2017 - #RenewableEnergy #Biomethane #Transport § #Irena Technology brief. #Biogas for road vehicles. Switching to biogas as vehicle fuel can reduce greenhouse gas emissions in the transport sector between 60% and 80% compared to fossil-based fuels like gasoline and diesel. This brief highlights the technologies available - both established and newly emerging - for biogas production and biogas-driven vehicle fleets. It evaluates costs, performance and sustainability and outlines the best practices from around the globe to accelerate uptake of this key renewable transport fuel. When sufficiently purified, it can be used in place of fossil-based gas to drive natural gas vehicles (NGVs) or dual-fuel vehicles. Germany, Sweden, Switzerland, the UK and the US were the largest producers of biogas as vehicle fuel in 2016. Worldwide, around 500 plants worldwide produce about 50 petajoules (PJ) per year of such upgraded biogas, often called biomethane [irena.org]

» March 16 2017 - #GlobalEconomy #SustainableDevelopment § #IISD. The #UN Statistical Commission agreed on a draft resolution on the global indicator framework for the #SustainableDevelopmentGoals (SDGs) and targets of the 2030 Agenda for Sustainable Development, and recommended it to the UN Economic and Social Council (ECOSOC) for adoption. The framework includes the initial set of global indicators that will be refined annually, comprehensively reviewed in 2020 and 2025, and complemented by indicators at the regional and national levels to be developed by Member States [unstats.un.org]

» March 14 2017 - #Geopolitics #EnergyPolicy #Oil § #UnitedStates' Energy and #ClimatePolicy under President Trump: Ramifications for #EnergyMarkets and the #GCC. US energy policy is evolving under Trump, and the changes will affect trade, foreign policy and relations with key global energy suppliers, including the GCC member countries. Shifting US policies are also likely to influence global climate action and geopolitics. Based on Trump's pro-fossil fuel statements and cabinet appointments, and the administration's noncommittal stance toward climate change, American individuals and firms may feel reduced government pressure to curtail carbon emissions and fossil fuel consumption. US fossil fuel producers may operate under fewer regulatory constraints. This EDA Insight explores how US energy and climate policies could change under the Trump administration, and what implications these could have (i) in the US itself, (ii) for energy markets globally and (iii) for the Gulf Cooperation Council (GCC) states [eda.ac.ae]

» March 13 2017 - #Geopolitics #ClimatePolicy § The UN Marrakesh #ClimateChange Conference: Aligning the #UNFCCC with the Post-Paris Era . The UN Marrakesh Climate Change Conference in November 2016 concluded a year of tremendous success in global climate governance, with the Paris Agreement on climate change entering into force on 4 November 2016 - less than a year after its adoption. This Insight argues that in the post-Paris world the UN Framework Convention on Climate Change (UNFCCC) will have three fundamental functions to fulfil: making the Paris Agreement functional; sending strong political messages to provide certainty for investments; and catalysing thematic multi-stakeholder coalitions that drive the global economic transformation [eda.ac.ae]

» March 10 2017 - #RnewableEnergy SustainableTransport #CrudeOilIndependence #MunicipalPolicy § By 2030 #Sweden aims to achieve fossil fuel independent road transport system and by 2050 completely carbon neutral transport system in all modes of transport. Renewable energy utilization in transportation (RES-T) is a long way behind its utilization in power (RES-E) and heat (RES-H) sectors. International and national environmental policies have recently given a lot of emphasis on this problem. For that reason information is sought on how to implement solutions both politically and technologically. As Sweden is a global leader in this area, it can provide valuable examples. In 2012 Sweden became the first country to reach the binding requirement of the European Union for at least 10 % share for renewable energy in transport energy consumption. But qualitative development has been even stronger than quantitative. Among the success stories behind qualitative progress, most noteworthy are those created by innovative municipal policies [stromstadakademi.se]

» March 10 2017 - #ClimateFinance #ClimatePolicy #ClimateGovernance #Africa #China § #ClimateChange is a threat to the attainment of the Sustainable Development Goals (#SDGs) in sub-Saharan Africa as its impacts can lead to increased incidences of poverty and inequality which can subsequently lead to a 12% decline in the Human Development Index (HDI) for sub-Saharan Africa. Emerging countries such as China have the potential to support Africa to achieve the SDGs by pioneering South-South Climate Finance (SSCF) modalities. In order to increase knowledge on climate informed development and the role of China in global climate governance, the paper examined various research articles, case studies, policy briefs and project reports. Sino-African aid, investments and trade were noted as essential in mitigating Africa's climate change vulnerabilities which induce poverty traps and inequality. Some African countries were noted to have a comparative advantage in environmental standards over China but lacked the initiative to use this comparative advantage to enhance the Forum on China-Africa Cooperation (FOCAC) and assist China to have a sustainable growth trajectory. The paper concludes that SSCF modalities can enhance climate risk management in Africa if they focus on improving financial inclusion and improving climate finance flows towards climate change adaptation activities in Africa [sciencedirect.com]

» March 8 2017 - #EnergyPolicy #Geopolitcs #US § #EPA withdraws Obama-era request for data on #Oil, #NaturalGas. The Environmental Protection Agency said [...] it is withdrawing an Obama-era request that oil and natural gas companies provide information on methane emissions at oil and gas operations. EPA Administrator Scott Pruitt said the withdrawal is effective immediately, adding that he wants to assess the need for the information the agency has been collecting under a directive issued in November. Texas, Oklahoma, Louisiana and eight other states had questioned the reporting request as overly burdensome [...] Methane, the key component of natural gas, has a global warming potential more than 25 times greater than that of carbon dioxide. The oil and gas industry is the largest industrial methane source in the United States [ap.org]

» March 8 2017 - #Oil #GlobalEconomy § #IEA. Global Oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast from the #InternationalEnergyAgency. The global picture appears comfortable for the next three years but supply growth slows considerably after that, according to Oil 2017, the IEA's market analysis and forecast report previously known as the Medium-Term Oil Market Report. The demand and supply trends point to a tight global oil market, with spare production capacity in 2022 falling to a 14-year low. In the next few years, oil supply is growing in the United States, Canada, Brazil and elsewhere but this growth could stall by 2020 if the record two-year investment slump of 2015 and 2016 is not reversed. While investments in the US shale play are picking up strongly, early indications of global spending for 2017 are not encouraging. Oil demand will rise in the next five years, passing the symbolic 100 mb/d threshold in 2019 and reaching about 104 mb/d by 2022. Developing countries account for all of the growth and Asia dominates, with about seven out of every 10 extra barrels consumed globally. India's oil demand growth will outpace China by then. While electric vehicles are an important factor for oil demand, the IEA estimates they will displace only limited amounts of transportation fuel by 2022 [...] The largest contribution to new supplies will come from the United States. The IEA expects US light tight oil (LTO) production to make a strong comeback and grow by 1.4 mb/d by 2022 if prices remain around USD 60/bbl. Expectations for US LTO are higher than last year's forecast thanks to impressive productivity gains. The United States responds more rapidly to price signals than other producers. If prices climb to USD 80/bbl, US LTO production could grow by 3 mb/d in five years. Alternatively, if prices are at USD 50/bbl, it could decline from the early 2020s. Within OPEC, the bulk of new supplies will come from major low-cost Middle Eastern producers, namely Iraq, Iran, and the United Arab Emirates. Others like Nigeria, Algeria and Venezuela will decline. For its part, production from Russia is forecast to remain stable over the next five years. The report also highlights changes in international oil-trade flows and investments in storage infrastructure. Asia will need to look beyond the Middle East to meet its growing import requirements. With OPEC countries focused on boosting domestic refining capacity to meet local demand and ramp-up exports of refined products, additional crude oil exports from Brazil and Canada will be higher than those from the Middle East [iea.org]

» March 7 2017 - #NaturalGas #EnergyUnion #Decarbonization #Tap § #Snam, 2017-2021 Plan. Italian home market benefits from the most extensive gas infrastructure network on the continent, and over the next five years Snam will invest five billion euro to make the system stronger, more interconnected and more sustainable, significantly contributing to the creation of the Energy Union and providing an effective contribution to the decarbonisation process [snam.it]

» March 6 2017 - #ClimateChange #GlobalWarming § #WMO verifies highest temperatures for Antarctic Region. A World Meteorological Organization committee of experts has announced new records for the highest temperatures recorded in the Antarctic Region as part of continuing efforts to expand a database of extreme weather and climate conditions throughout the world. Knowledge and verification of such extremes is important in the study of weather patterns, naturally occurring climate variability and human-induced climate change at global and regional scales. The highest temperature for the "Antarctica Region" (defined by the WMO and United Nations as all land and ice south of 60°S) of 19.8 degrees Celsius (67.6 degrees Fahrenheit) was observed on 30 January 1982 at Signy Research Station, Borge Bay on Signy Island. The highest temperature for the "Antarctic continent" defined as the main continental landmass and adjoining islands is the temperature extreme of 17.5°C (63.5°F) recorded on 24 March 2015 at the Argentine Research Base Esperanza located near the northern tip of the Antarctic Peninsula. Thirdly, the highest temperature for the Antarctic Plateau [at or above 2500 meters (8202 feet)] was the observation of -7.0°C (19.4°F) made on 28 December 1989 at an Automatic Weather Station (AWS) site D-80 located inland of the Adelie Coast. The lowest temperature yet recorded by ground measurements for the Antarctic Region, and for the whole world, was -89.2°C (-128.6°F) at Vostok station on 21 July 1983. It is possible, indeed likely, that greater extremes can and have occurred in the Antarctic Region. As with all WMO evaluations, the extremes are identified based on only those events with available high-quality ground-based data. WMO's Commission for Climatology maintains an Archive of Weather and Climate Extremes. This includes the world's highest and lowest temperatures, rainfall, heaviest hailstone, longest dry period, maximum gust of wind, longest lightning flash and highest significant wave height [wmo.int]

» March 6 2017 - #NaturalGas § #China's Anhui province has #ShaleGas reserves of 3.37 trillion m³, according to a statement published on the provincial government website March 3. The province has delineated eight reserves, while another nine sites have been selected as potential exploration areas [...] Geological survey report suggested that the province should further strengthen the shale gas prospecting area survey, promote the development of shale gas related industries, improve the energy supply structure of Wanjiang Economic Zone [naturalgasworld.com]

» March 3 2017 - #LowCarbonEconomy #SDGs #GlobalEconomy § #PPMC Report. Global Macro Roadmap: An Actionable Vision on the #Decarbonization of #Transport. The Paris Agreement on climate change sets an overall long-term direction for climate change policy which should be in line with the ambitious target of limiting temperature increase ('well below 2°C above pre-industrial levels, and to aim for a temperature increase of not more than 1.5°C). Therefore, each sector of human activity, including the Transport sector, must define its course of action whilst taking into account: a decarbonization timeline of 2050-2060 for the most developed, and 2060-2080 for less developed economies. The Global Macro-Roadmap designed to provide guidance on the course of action for transport covers a 2020-2050+ timeline and includes both short as well as mid- to long-term actions. This Roadmap aims to give a realistic (technically feasible) vision, with an operational focus for each segment of the Transport sector (people and freight; road, railway, aviation, waterborne; urban and rural). It is driven by new sustainable and inclusive growth opportunities called for by the SDGs [ppmc-transport.org]

» March 3 2017 - #Geopolitics #ClimatePolicy #EU #US #China #ParisAgreement § A call for Europe to demonstrate renewed leadership in the international climate change regime. The surprise election of avowed climate sceptic Donald J. Trump as the 45th US President not surprisingly led some commentators to highlight parallels with the situation in 2001, when President George W. Bush repudiated the Kyoto Protocol. This Strategy Note looks at the situation in 2001 - when the EU took the initiative to save the Kyoto Protocol – and now, with a view to assessing the need for, and chances of, invigorated EU leadership in the international effort to combat climate change under the 2015 Paris Agreement. Given the statements made by the Chinese leadership in the aftermath of the recent US elections, it is clear that China is willing to continue playing a leading role, both in its domestic actions and in the international climate negotiations. But, the authors argue, the loss of the developed country partner in the 'G2' has put China as a developing country in a difficult position because of the internationally acknowledged requirement for leadership from the developed world. In order to get the maximum ambition out of the Paris Agreement, there needs to be a suitable developed country partner to take up the role of the US in the G2. This, the authors argue, is where the EU can and must enter into the picture: to help provide the geopolitically balanced leadership which the Paris Agreement requires, if not to survive, then in order to be ambitious and effective. They propose two related measures that would be conducive to that end. For the new G2 partnership to be as ambitious and effective as possible, the authors suggest that it should be based on 'strategic collaborations', by which they mean collaborative actions that involve some concrete quantified targets to be achieved under the collaboration, be it in terms of reducing (utility) emissions or through the linking of emissions trading schemes [eurocapacity.org]

» March 2 2017 - #EnergyTransition #EnergyInvestments § #GTMR Report. Utility Investments in #DistributedEnergy: Trends Among North American and European Utilities. Investment in distributed energy companies has tripled in value in North American and Europe since 2010, and over $1 billion in investment has come in 2016 alone. By building a portfolio of DER (Distributed Energy Resources) companies, utilities are further exploring the potential value of DERs and their ability to increase customer engagement [greentechmedia.com]

» March 2 2017 - #Geopolitics #ClimatePolicy #CapAndTrade #CarbonTax § A Conservative Plan to Combat #GlobalWarming. The plan calls for combining taxes on all sources of CO2 with a rebate of the collected revenues to all households on a per capita basis. Experts tell us that a tax of $40 per metric ton would achieve greater reduction in CO2 than all of the existing emissions regulations. Our plan therefore calls for legislation that eliminates all of this intrusive regulation in tandem with the tax-and-dividend plan. Our group recognizes that there is substantial controversy about the extent of global warming both now and in the future, as well as about the role of CO2 emissions from automobiles, home heating, and other human activity in contributing to that warming. But we believe the risk that CO2 emissions will lead to dangerous future increases in global temperature is high enough that a policy should be adopted to reduce it. A carbon tax is the simplest and economically most efficient way to limit CO2 emissions. It is better than the more cumbersome methods of regulation now in place. It is also simpler and more reliable than the "cap and trade" method that has been tried in Europe and proposed during President Barack Obama's administration [belfercenter.org]

» March 1 2017 - #ClimateFinance #GlobalEconomy § #NewClimateInstitute and #Germanwatch Report. Innovative Financing for the Adaptation Fund: Pathways and Potentials. This new report explores the potential of seven innovative climate finance options to meet the financing needs of the Adaptation Fund. It concludes that if implemented in a collective manner, these can provide a steady and predictable stream of finance for the Fund. However, the Adaptation Fund Board needs to proactively engage with relevant decision makers, following a dynamic resource mobilisation strategy. Potential engagement pathways for each option are discussed as well [newclimate.org]

» March 1 2017 - #NaturalGas #China #LNG § #OIES Report. LNG demand outlook and Scenarios for Europe. As we move into 2017, the burning question is whether (in particular) China's recent increased LNG demand this winter is primarily a weather-related phenomenon or the start of a trend towards higher LNG demand based on displacing coal in power, industrial and space heating sectors. The absence of transparent prompt Chinese gas demand data prolongs the uncertainty on this issue [...] Since 2015 analysts and researchers have announced the imminent arrival of a surge of LNG into the European gas market, as supply projects from mainly Australia and the USA come onstream and LNG in excess of Asian requirements arrives at European import terminals. To date this has not happened, in fact 2016's European region LNG imports were down 3.3% on 2015. This short paper examines the reasons for this and presents an updated view on the growth of global LNG supply and its impact on Europe under two Asian Demand Scenarios [oxfordenergy.org]

» February 28 2017 - #ClimatePolicy #ParisAgreement § #UNDP e-discussion on #NDC Implementation. UNDP, UNEP, UDP, and the WRI, in cooperation with the UNFCCC Secretariat, are currently developing joint guidance to be used by countries as they prepare for NDC implementation [...] The purpose of this e-discussion is to engage stakeholders, practitioners, experts and polic-makers across the globe in a dialogue to capture experiences on NDC implementation and gather feedback to guide the development of the forthcoming guidance. This guidance builds on our previous document, Designing and Preparing Intended Nationally Determined Contributions, and is meant to serve as a practical tool to help governments develop comprehensive and actionable roadmaps for NDC implementation. Consulting with a broad group of stakeholders and incorporating feedback from countries will help us to develop comprehensive guidance that is based on real-world national experiences. We would like to acknowledge the contribution of the EU, Germany, Japan, Norway and Australia in the context of the guidance document. Finally, we thank you in advance for your contributions and collaboration [...] Upcoming Discussion - Phase 5: 6-24 March 2017 [unteamworks.org]

» February 27 2017 - #ClimateFinance #GlobalEconomy § Journal International Environmental Agreements: Politics, Law and Economics, special issue. Managing fragmentation and complexity in the emerging system of international climate finance. The special issue focuses on mapping the fragmented climate finance system, analysing the causes and consequences of fragmentation and discussing policy responses. This is done through in-depth articles covering topics including the allocation and ambiguity of adaptation finance, mobilising private adaptation finance, and exploring the role of Multilateral Development Banks, finance ministries and domestic party politics in climate finance allocation and negotiations [springer.com]

» February 24 2017 - #SustainableDevelopment #GlobalPolicy #GlobalEconomy § The #UN development system: Can it catch up to the 2030 Agenda? New directions: a system-wide framework [...] I. Increase UN political leadership to solve sources of UN dysfunction [...] II. Establish strategic governance under the collective review of UN Member States [...] III. Aim for more coherent global management of the UN development system [...] IV. Make organizations operate under the system-wide framework, according to development needs [...] V. Reform the funding system to reduce pay to play [...] VI. Define and monitor partnerships for public value-system-wide [...] VII. Adopt better measurements of integrated UN development system contributions [...] A choice at a crossroads: Fit or obsolete? [globalpolicywatch.org]

» February 23 2017 - #GlobalEconomy #Energy #Commodities #TechnologicalInnovation #PeakOil § Report McKinsey Global Institute. BEYOND THE #SUPERCYCLE: HOW TECHNOLOGY IS RESHAPING RESOURCES. The ways we consume energy and produce commodities are changing. This transformation could benefit the global economy, but resource producers will have to adapt to stay competitive. The world of commodities over the past 15 years has been roiled by a "supercycle" that first sent prices for #Oil, #Gas, and #Metals soaring, only for them to come crashing back down. Now, as resource companies and exporting countries pick up the pieces, they face a new disruptive era. Technological innovation-including the adoption of #Robotics, #ArtificialIntelligence, #InternetofThings technology, and data analytics-along with macroeconomic trends and changing consumer behavior are transforming the way resources are consumed and produced [...] Demand for a range of commodities, particularly oil, could peak in the next two decades, and prices may diverge widely. How large this opportunity ends up being depends not only on the rate of technological adoption but also on the way resource producers and policy makers adapt to their new environment [mckinsey.com]

» February 23 2017 - #Geopolitics #Finance § New #Oil Order. Higher demand is at the heart of #GoldmanSachs Research's positive commodity outlook for 2017 [...] When commodity demand is above commodity supply, deficits result, inventories are drawn down and scarcity premiums begin to arise-and that's what's driving our bullish expectations [...] He expects oil will trade marginally higher as inventories normalize but remain bounded by low-cost shale production that's defined the New Oil Order [goldmansachs.com]

» February 23 2017 - #EnergyPolicy #NaturalGas #SmartGrids § #EU member states agreed on the European Commission's proposal to invest €444mn in key European energy infrastructure projects, of which just under half on two strategic gas projects. Money for the chosen projects comes from the Connecting Europe Facility (CEF). Of the 18 projects selected for funding: ten are for gas projects (EU support €228mn), seven for electricity (€176mn), and one for smart grids (€40mn) [naturalgasworld.com]

» February 22 2017 - #Oil #Geopolitics #SaudiArabia #US § U.S. #ShaleOil production could grow by a whopping 3.5 million barrels per day over the next five years. In his latest note, BofA's Francisco Blanch explains not only why a drop in shale breakeven costs is what is currently the biggest wildcard in the global race to reach production "equilibrium", but also why U.S. shale oil production could surge in the coming years, prompting OPEC to boost production in hopes of recapturing market share. Specifically, Blanch predicts that U.S. shale oil production could grow by a whopping 3.5 million barrels per day over the next five years [oilprice]

» February 21 2017 - #EnergyPolicy #Eurostat § #EnergyConsumption in the #EU below its 1990 level, EU dependency on #FossilFuel imports on the rise. In 2015, gross inland energy consumption, which reflects the energy quantities necessary to satisfy all inland consumption, amounted in the European Union (EU) to 1626 million tonnes of oil equivalent (Mtoe), below its 1990 level (-2.5%) and down by 11.6% compared to its peak of almost 1840 Mtoe in 2006. Accounting for nearly three-quarters of EU consumption of energy in 2015, fossil fuels continued to represent by far the main source of energy, although their weight has constantly decreased over the past decades, from 83% in 1990 to 73% in 2015. However, over this period, EU dependency on imports of fossils fuels has increased, with 73% imported in 2015 compared with just over half (53%) in 1990. In other words, while in 1990 one tonne of fossil fuels was imported for each tonne produced in the EU, by 2015 three tonnes were imported for each tonne produced [ec.europa.eu]

» February 20 2017 - #ClimatePolicy #UK § House Of Lords European Union Committee. #Brexit: environment and #ClimateChange report. The Committee concluded that one of the key challenges in this area will be that of effectively maintaining environmental protection through the Great Repeal Bill, given the complex and extensive nature of environmental legislation. They also identified a risk of a vacuum once the European Commission and Court of Justice of the European Union no longer have a role in the oversight and enforcement of environment legislation, given the significant impact those institutions have had on the UK's compliance in the past. The Committee noted that the UK may wish to coordinate environmental standards with the EU in the future, to both enable trade and ensure the effective protection of the natural environment. The Committee also concluded that the UK should explore diplomatic avenues to maintain its influence in climate negotiations post-Brexit [parliament.uk]

» February 17 2017 - #EnergyInvestments #CleanEnergyTransition § #IEA analysis last year showed that the energy sector received investments worth $1.8 trillion in 2015, totaling about 2.5% of global GDP. This includes spending on pipelines, energy efficiency and oil and gas resources, which all contribute to greater energy security. It also includes spending on renewables, electric vehicles and electricity storage, which in addition further the clean energy transition [...] three emerging trends in energy sector investment will be reviewed in depth in the IEA's World Energy Investment 2017, be released in early July [iea.org]

» February 17 2017 - #ResponsibleFinance #EnvironmentalSocialandGovernance #ESG #SociallyResponsibleInvesting #SRI #IslamicFinance § 3-4 May 2017, Zurich, Switzerland, The #ResponsibleFinance & Investment Summit (RFI Summit), an initiative of the RFI Foundation and Swiss Arab Network to build awareness of shared values that can bring socially responsible investing (SRI), environmental, social and governance (ESG) and Islamic finance together to increase their positive impact. This Responsible Finance & Investment Summit brings together key stakeholders within responsible finance to build connections to new growth opportunities and more measurable impact. The RFI Summit will play a vital role in connecting representatives from across the responsible finance industry to build on the growing cooperation between SRI, ESG and Islamic finance [rfisummit.org]

» February 16 2017 - #EnergyTransition § #Climateanalytics Report. A stress test for #Coal in #Europe under the #ParisAgreement. This new report sets out the first science-based shutdown schedule for the EU's over 300 coal power plants - in order for it to meet the Paris Agreement's long-term temperature goal. The report shows that emissions from coal in the EU electricity sector need to be close to zero by 2030 (95% by 2030; 100% by 2031), with a quarter of operating coal-fired power plants switched off before 2020 and a further 47% going offline by 2025. To achieve this ambitious phase-out schedule the EU will need to design enhanced policy settings and approaches that complement each other, including: a more effective EU Emissions Trading Scheme; a stable and predictable investment framework; bigger targets for renewables - instrumental in a successful coal phase-ou; strategies and policies at both national and regional level to ensure a smooth transition and maximise socioeconomic opportunities. Resources will need to be devoted to the transformation required to maximise the economic, employment, social and environmental benefits of this essential transformation [climateanalytics.org]

» February 15 2017 - #Oil #US § #EIA's Annual Energy Outlook 2017 (#AEO2017). #TightOil expected to make up most of U.S. oil production increase through 2040. Reference case projects that U.S. tight oil production will increase to more than 6 million barrels per day (b/d) in the coming decade, making up most of total U.S. oil production. After 2026, tight oil production remains relatively constant through 2040 in the Reference case as tight oil development moves into less productive areas and as well productivity decreases. Side cases with different resource and technology assumptions result in different tight oil and total U.S. oil production projections [eia.gov]

» February 15 2017 - #ClimateChange #LowCarbonEconomy #EnergyTransition § #ICTSD Report. The Role of Response Measures in Ensuring the Sustainable Transition to a Low-GHG Economy. The increasingly interconnected nature of the global economy means that the impacts of climate change mitigation measures, or response measures, are not confined within the borders of countries implementing them. Such impacts will become of even more and growing importance under the decentralised and increasingly ambitious new climate regime. This policy brief explores the issue of response measures in the context of the post-Paris climate regime from a practical and policy-relevant perspective, examining different options on how the issue may evolve [ictsd.org]

» February 14 2017 - #Decarbonization § #IEA report. #Indonesia says stop to #FossilFuelSubsidies. The wave of liberalization, referred to in history as a 'big bang', which, as of 2015, has affected the Indonesian economy, is yielding a return also on the front of the removal of state subsidies from fossil fuels. The estimated expenditure on subsidies for traditional fuels in 2016 amounted to 1% of the Indonesian GDP, versus 3% of the state's GDP just two years earlier, in 2014. The data emerge from an International Energy Agency (IEA) report, which records the progress made by Indonesia on the subsidies issue, while emphasizing how the removal process is not yet over. Fossil fuel subsidies have been used by many countries at various times to support high energy-intensive industries, to subsidize the transport of goods and people, to encourage access to electricity by families, especially poor families. Many studies have, however, reached the conclusion that the economic and environmental costs of subsidies far outweigh the social benefits they bring: in particular, they drain many resources from the state budget and they are an obstacle on the path towards the decarbonization of the electricity sector [abo.net]

» February 14 2017 - #ClimateFinance #LowCarbonEconomy § A guide to develop a Project proposal for the #GreenClimateFund (#GCF). Responding to the climate challenge requires collective action from all countries, cities, businesses, and private citizens. With currently USD 10.3 billion pledged, the Green Climate Fund (GCF), is the world's largest climate fund and is designed to be the main financial instrument to meet the global commitment made by advanced economies to jointly mobilise $100 billion per year by 2020, from a variety of sources, to address the pressing mitigation and adaptation needs of developing countries [...] The GCF aims to support developing countries in achieving a paradigm shift to low-emission pathways and to increase climate-resilient development, by funding transformative projects and programmes on adaptation and/or mitigation to climate change. A key characteristic of the Fund is that it also seeks to encourage private sector investments in these areas through the Private Sector Facility (PSF). The PSF aims to support the private sector to engage in climate relevant activities through two alternative mechanisms, which address the supply side and the demand side of private sector financing – istitutional investing, and small and medium sized enterprise financing [acclimatise.uk.com]

» February 14 2017 - #ClimatePolicy #ETS #NDCs #ParisAgreement § #EmissionsTrading Worldwide: #ICAP Status Report 2017. The 2017 Status Report aims to take stock of the evolution and spread of emissions trading systems in operation and under consideration around the world. The Report combines up-to-date, detailed factsheets of each system with infographics that illustrate broad trends across the different systems. The fourth edition of this report also includes articles from policymakers, offering a behind-the-scenes look at the latest developments in emissions trading. Emerging economies are a major focus this year, with an in-depth look at how China and Mexico are laying the groundwork for a future national ETS. More broadly, Asia continues to be a hotspot for ETS, with Korea reporting on its first two years of operation and Tokyo continuing to demonstrate how megacities can harness emissions trading to decouple emissions from growth. The impact of reforming the EU ETS on the allowance price is also examined. Finally, the ability of market mechanisms to foster voluntary cooperation and help countries achieve their Nationally Determined Contributions to achieve the promises of the Paris Agreement is also covered in this year's Report [...] Join the emissions trading discussion with ICAP, which will hold two 45-minute webinars picking up on some of the major topics covered in this year's Report. The Secretariat will be joined by ETS policymakers from around the world to discuss the latest developments in their system and the next steps for emissions trading. 15 February at 10am EST (New York) (3pm GMT, London) - 21 February at 5pm PST (San Francisco) (22 February 9am CST, Beijing) [icapcarbonaction.com]

» February 13 2017 - #SustainableDevelopment #ClimateChange #SustainableEnergy #CitizensEmpowerment #PublicGoods #CommonConcern #SustainableCompanies #InternationalTrade § QueenMaryUniversityofLondon - School of Law publication. Sustainability, Common Concern and Public Goods. This article analyzes the conceptual links between sustainability, common concern and public goods. It examines the mega-trends of the 21st century in the context of sustainability. By doing so, it brings forward the novel idea of how greater participation of citizens can be very promising in helping achieve the Sustainable Development Goals. The article also examines incentives for regional and global cooperation on decarbonizing the economy. It does so by proposing the novel idea of using mega-regional trade agreements (RTAs) to mitigate climate change and enhance sustainable energy. It proposes the argument that only a few major greenhouse gas emitters and just three mega-RTAs can make a great contribution towards climate change mitigation and the enhancement of sustainable energy. The article then explores sustainability in the context of innovation, research, technology and spirituality. The article concludes with the expression that there is a knowledge gap on the links between four major global concerns: trade, energy, climate change, and sustainability. With the threat of climate change looming, and energy increasingly important to all aspects of human and economic development, learning more about these links is extremely timely [papers.ssrn.com]

» February 13 2017 - #EnergyPolicy #US #Geopolitics § The 2017 #SustainableEnergy in America Factbook marks the fifth year that #BCSE and #BNEF have collaborated to document the transformation of the #USEnergySystem and the growing contributions of #SustainableEnergyTechnologies [...] The addition of 76 gigawatts (GW) of renewable energy generating capacity, and 39GW of natural gas-fired capacity. Renewables (inclusive of large hydro) and natural gas now meet half of US power demand, up from only 38% in 2011. A 10% improvement in US energy productivity, meaning the US economy is using 10% less energy to power each unit of growth. A 4% drop in average retail electricity prices in real terms. In New York, Texas, and Florida, prices have fallen over 10% in that time. A 12% jump in total gas production, and a 79% surge in shale gas extraction since 2011. A 12% improvement in vehicle fuel economy, propelled by federal fuel efficiency standards [bloomberglp.com]

» February 10 2017 - #Oil #US § #EIA Short Term Energy Outlook. U.S. crude oil production averaged an estimated 8.9 million b/d in 2016. U.S crude oil production is forecast to average 9.0 million b/d in 2017 and 9.5 million b/d in 2018. Benchmark North Sea Brent crude oil spot prices averaged $55/barrel in January, a $1/b increase from December. This price was $24/b higher than the January 2016 average, and it was the highest monthly average for Brent spot prices since July 2015. EIA forecasts Brent crude oil prices to average $55/b in 2017 and $57/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average about $1/b less than Brent prices in 2017. The NYMEX contract values for April 2017 delivery traded during the five-day period ending February 2 suggest that a range from $45/b to $65/b encompasses the market expectation of WTI prices in April 2017 at the 95% confidence level [eia.gov]

» February 10 2017 - #ClimateChange #ClimatePolicy #NDCs #ParisAgreement § #UNFCCC: Report on the nationally determined contributions survey conducted by the Nairobi Framework Partnership in 2016. The survey looks at what is required so that countries can implement the nationally determined contributions they have submitted under the Paris Climate Change Agreement. One key finding of the survey is that countries in Asia, Africa and Latin America and the Caribbean urgently need financial support to green their power sectors [unfccc.int]

» February 9 2017 - #LowCarbonEconomy #CarbonCaptureStorage § #Coal Industry Advisory Board (#CIAB) Report. An International Commitment to #CCS: Policies and Incentives to Enable a #LowCarbonEnergy Future According to the report Governments must put in place well-designed policies and incentives that will encourage public and private banks to finance (CCS) projects. The report notes that unless there is action on CCS we will be unable to meet the Paris agreement. The IEA estimates 12 GW of CCS-enabled HELE plants will be required by 2020, 215 GW by 2030, and 664 GW by 2050 (IEA, 2012) to remain on a pathway to 2°C. Achieving the much more aggressive goal of well below 2°C will require even more aggressive deployment. The report found that achieving the carbon reduction goals of the Paris Agreement must be approached in a manner that provides access to reliable, affordable energy, supports economic development and improves living standards. According to the Intergovernmental Panel on Climate Change (IPCC), achieving a 2°C goal is estimated to be 138% more expensive without CCS (IPCC, 2014). There are currently 38 large-scale CCS projects: 21 projects in operation or construction, 6 projects in advanced planning and 11 projects in earlier stages of planning [iea.org]

» February 8 2017 - #EnergyScenarios #EnergyPolicy #Geopolitics #IEA § The International Energy Agency's Double Game with Climate Change. "The actual scenarios of the IEA are full of misleading figures and false assumptions." [...] A look back to the history and funding of the IEA helps to understand these contradictions. In 1974, following the oil crisis, 17 OECD member countries, among them the USA, Japan, Germany and a number of other European countries founded the IEA. Its initial purpose was to safeguard oil supplies to the West, thereby serving the interests of its member countries. The biggest part of funding comes from the USA and Japan, two countries that depend heavily on fossil and nuclear fuels. Both of these countries have also the most votes on decisions made by the IEA [/medium.com]

» February 8 2017 - #Oil #NaturalGas § President Trump's vow to "unleash an energy revolution" by reversing regulations may send oil and natural gas prices tumbling in 2018, according to Bank of America Merrill Lynch. Domestic oil and gas prices will likely suffer as the U.S. continues to increase its output, analysts including Francisco Blanch, head of commodities research, wrote in a note dated Feb. 3. Though U.S. oil and natural gas producers could see a surge in investment under Donald Trump's numerous proposals from a likely reform of the corporate tax code to a possible border tax, prices may suffer from the resulting increase in output [:::] "The industry has high hopes for less red tape, a more pragmatic approach to regulation and lower costs of having to comply with climate change rules," the analysts said. The impact of Trump's policies will take months if not years to play out [bloomberg.com]

» February 7 2017 - #LowCarbonEconomy § Hydrogen Council Report. How #Hydrogen empowers the #EnergyTransition. The need for an energy transition is widely understood and shared; however, the implications and challenges that must be resolved call for a concerted effort. Hydrogen has the potential to be a powerful enabler of this transition, as it offers a clean, sustainable, and flexible option for overcoming multiple obstacles that stand in the way of a resilient and low-carbon economy [...] Two energy carriers promise to have the greatest possible impact when it comes to decarbonizing and implementing changes at scale: electricity and hydrogen [...] Some energy end uses are hard to electrify via the grid or with batteries, especially in transport but also in other sectors. In many sectors, direct electrification is and will remain technologically challenging or uneconomical even at very high CO2 prices. This applies, e.g., to heavy-duty transport, non-electrified trains, overseas transport, and aviation, but also to some energy-intensive industries. In other sectors, such as light-duty vehicles, direct electrification, although technologically possible, does not always meet performance requirements in range and charging convenience. In many, if not all of these sectors, where technological and/or economic obstacles prevent direct electrification, hydrogen offers a viable solution [hydrogeneurope.eu]

» February 7 2017 - #CircularEconomy #EnvironmentalPolicies #EU § Country reports and common challenges. The European Commission published the first ever comprehensive overview of how EU environmental policies and laws are applied on the ground. It shows that environmental policies work but that there are big gaps in how these rules and policies are put into practice across Europe. The most pressing implementation gaps across EU Member States are found in the policy fields of waste management, nature and biodiversity, air quality, noise and water quality and management [ec.europa.eu]

» February 6 2017 - #NaturalGas #Oil #Geopolitics § #Iran has increased its gas in-place reserves by 1.8 trillion m³ to about 55.3 trillion m³. The newly discovered oil and gas fields contain about 1.04 trillion m³ of recoverable gas, and bring the total amount of Iran's extractable gas reserves now to 37.3 trilllion m³ [...] the recovery rate of gas fields in Iran stands at about 69.62% [...] The CEO of state-owned National Iranian Oil Company Ali Kardor did not say when Iran discovered and proved the new oil and gas reserves, but the combination to two official documents, seen by NGW and Kardor's statement indicates that about a half of the newly discovered reserves date back to mid 2013-2016 and the rest occurred in 2H16 [naturalgasworld.com]

» February 6 2017 - #RenewableEnergy #EnergyTransition #EnergyModelling § International Renewable Energy Agency's (#IRENA) Report. Planning for the renewable future: Long-term modelling and tools to expand variable renewable power in emerging economies. The report guides energy planners and modelling practitioners through various modelling practices and use of renewable data to better represent variable renewable energy (VRE) sources in long-term generation expansion planning. The report highlights the findings from AVRIL (Addressing Variable Renewable Energy in Long-term Energy Planning), an IRENA project that has identified the best practices in long-term planning and modelling to represent high shares of VRE. The report includes two main parts: Part One (Planning the transition to variable renewables) offers guidance to energy decision makers and planners by providing an overview of key long-term issues and concerns around the large-scale integration of VRE into the power grid. Part Two (Long-term models for energy transition planning) offers guidance to technical practitioners in the field of energy modelling, specifically with a catalogue of practical VRE modelling methodologies for long-term scenario planning. Topics addressed include: temporal and spatial resolution of generation expansion models, calibration of time-slices, capacity credit constraints, flexibility constraints, flexibility balance validation, coupling with production cost models, linking grid expansion needs with VRE expansion, site specific representation of generation, and transmission needs [irena.org]

» February 3 2017 - #EnergyTransition #LowCarbonEconomy #EU #GHG #Research #Innovation #Competitiveness § Second Report on the State of the #EnergyUnion. In 2015, greenhouse gas emissions in the European Union were 22% below the 1990 level. Despite a temporary limited increase in 2015, emissions remain on a decreasing trend. The emissions in the sectors covered by the European Union Emissions Trading System (ETS) continued to fall in 2015. The European Union is also on track in the renewable sector where - based on 2014 data - the share of renewables reached 16% of the gross final energy consumption of the European Union. As the trajectory becomes steeper closer to 2020, further efforts should be made [...] For the Energy Union, 2016 was the year of delivery. It was a year in which the vision of the Energy Union Framework Strategy was further translated into concrete legislative and nonlegislative initiatives, most recently with the "Clean Energy for all Europeans" package presented on 30 November 2016. As a next step, the low emission mobility strategy will also be translated into concrete initiatives, in line with the Commission Work Programme for 2017. It is important that the co-legislators work towards the adoption of the proposed initiatives without delay and in line with the Joint Declaration of the three institutions on the European Union's legislative priorities for 2017, to allow for a swift energy transition on the ground. The Energy Union is a European priority project, identified by the Juncker Commission as one of the 10 political priorities, in which five dimensions are closely interlinked: energy security, solidarity and trust; a fully integrated European energy market; energy efficiency contributing to moderation of demand; decarbonising the economy; and research, innovation and competitiveness. Progress has been made on all these dimensions. The Energy Union is part of the positive agenda for the European Union as set out in the Bratislava Declaration, and cannot be separated from other key European policies [ec.europa.eu]

» February 3 2017 - #ClimateChange #CO2 #WaterWaste § #FossilCarbon contribution to GHG emission can span from negligible to substantial in different types of industrial WRRFs. Environ. Sci. Technol., 2016, 50 (22), article. Identification of Preferential Paths of #FossilCarbon within Water Resource Recovery Facilities via #RadiocarbonAnalysis. The Intergovernmental Panel on Climate Change (#IPCC) reported that all carbon dioxide (CO2) emissions generated by water resource recovery facilities (WRRFs) during treatment are modern, based on available literature. Therefore, such emissions were omitted from IPCC's greenhouse gas (GHG) accounting procedures. However, a fraction of wastewater's carbon is fossil in origin. We hypothesized that since the fossil carbon entering municipal WRRFs is mostly from soaps and detergents as dissolved organic matter, its fate can be selectively determined during the universally applied separation treatment processes. Analyzing radiocarbon at different treatment points within municipal WRRFs, we verified that the fossil content could amount to 28% in primary influent and showed varying distribution leaving different unit operations. We recorded the highest proportion of fossil carbon leaving the secondary treatment as off-gas and as solid sludge (averaged 2.08 kg fossil-CO2-emission-potential m-3 wastewater treated). By including fossil CO2, total GHG emission in municipal WRRFs increased 13%, and 23% if an on-site energy recovery system exists although much of the postdigestion fossil carbon remained in biosolids rather than in biogas, offering yet another carbon sequestration opportunity during biosolids handling. In comparison, fossil carbon contribution to GHG emission can span from negligible to substantial in different types of industrial WRRFs. With such a considerable impact, CO2 should be analyzed for each WRRF and not omitted from GHG accounting [...]

» February 3 2017 - #ClimatePolicy #ClimateChangeMitigation #ClimateChangeAdaptation #EU § #EEA report. #ClimateChange, impacts and vulnerability in Europe 2016. This report is an indicator-based assessment of past and projected climate change and its impacts on ecosystems and society. It also looks at society's vulnerability to these impacts and at the development of adaptation policies and the underlying knowledge base. This is the fourth 'Climate change, impacts and vulnerability in Europe' report, which is published every four years. This edition aims to support the implementation and review process of the 2013 EU Adaptation Strategy, which is foreseen for 2018, and the development of national and transnational adaptation strategies and plans [eea.europa.eu]

» February 2 2017 - #OilIndustry #Economy § Over the last year the biggest oil companies have shown the most resilience in the face of plunging oil prices. But now even the likes of Exxon Mobil, BP and Chevron are beginning to lose their buoyancy. The newest measure of the oil industry's falling fortunes came on Tuesday in the form of a $3.3 billion fourth-quarter loss reported by BP. Exxon Mobil, the American industry's largest player, reported a 58 percent decline in its quarterly profit. Low oil and natural gas prices are saving families hundreds of dollars a year, but there are few cheers among energy executives. The entire industry is reeling from the effects of a global glut, and slackening international economic growth [nytimes.com]

» February 2 2017 - #Urbanisation #ClimateChange #ElectricityDistribution #NaturalGasDistribution, #DistrictHeating § the Turin School of Local Regulation new book, The Political Economy of Local Regulation, with many contributes relevant to the energy sector with international energy regulation case studies from countries such as Germany, Italy and US. This book offers theoretical and methodological guidelines for researching the complex regulation of local infrastructure, utilities and public services in the context of rapid urbanisation, technological change, and climate change. It examines the interactions between regulators, public officers, infrastructure and utilities firms, public service providers, citizens, and civil society organisations. It contains contributions from academics and practitioners from various disciplinary perspectives and from many regions of the world [palgrave.com]

» February 1 2017 - #Oil #SaudiArabia #Geopolitics #EconomicPolicy #EnergyPolicy § The first independent audit of Saudi Aramco's #OilRreserves has confirmed the state oil company's own figures, sources familiar with the situation said, ahead of its planned share market listing next year. The listing, expected to be the world's biggest initial public offering (IPO), is a centerpiece of a Saudi Arabian government plan to transform the country by enticing investment and diversifying the economy away from oil. Based on a figure of 265 billion barrels, Aramco's fields contain about 15 percent of the world's proven reserves. Any finding that the reserves are significantly above or below that could affect the company's market value in the listing [...] Aramco had asked two U.S. oil reserve auditing specialists to review its deposits. These are Gaffney, Cline and Associates, part of Baker Hughes and Dallas-based DeGolyer and MacNaughton. DeGolyer and MacNaughton completed its audit last year [...] The IPO plan is being championed by Deputy Crown Prince Mohammed bin Salman, who oversees energy and economic policy in the world's top oil-exporting country. Prince Mohammed has said he expects the IPO, which will offer up to five percent of the company, to value Aramco at a minimum of $2 trillion [reuters.com]

» January 31 2017 - #EnergyPolicy #Economy #UK § Brexit could hike energy prices. #Brexit's impact on #GasMarkets: Brexit and security of supply for the UK and Ireland. The #OxfordInstituteforEnergyStudies is launching a new research theme on the impact of Brexit on gas markets. This publication dealing with Security of Supply is the first of a series that will focus on Brexit as negotiations continue between the UK and the EU. We conclude that: 1) the UK needs to reshape its energy diplomacy that has in the last decade increasingly been handled by Brussels; 2) the three EU-UK interconnector regulations are going to be crucial to the way Brexit impacts on gas markets; 3) Brexit negotiations will have an impact on the NBP-TTF spread [oxfordenergy.org]

» January 30 2017 - #NaturalGas #Russia #Turkey #EU § The #TurkStream Gas Pipeline Project is a replacement for the South Stream Project. The TurksStream Pipeline is 900 Km long. It will start at the Russian Black Sea coast near Anapa and ends at the Turkish town of Ipsala. It is envisaged that the TurkStream Pipeline will be supplemented by another gas pipeline to Europe, which would deliver up to 31.5 billion cubic meter of natural gas annually [naturalgasworld.com]

» January 30 2017 - #Coal #RenewableEnergy #NaturalGas #Nuclear § Energiewende, Sandbag Report. #EnergyTransition in the Power Sector in #Europe: State of Affairs in 2016 [...] the three most important graphics from the report. Figure 1 shows the changes by fuel type in Europe. Key aspects are very small changes in renewable generation in 2016, a huge fall in coal generation offset by a huge rise in gas generation, and a fall in nuclear generation. Figure 2 shows the overall European electricity mix. Largest contribution of power came from renewables, followed by nuclear, gas, hard coal and lignite. Most striking changes can be seen among gas and coal - gas increased its share from 15.5 percent to 18.6 percent while coal's share dropped from 24.6 percent to 21.6 percent [sandbag.org.uk]

» January 27 2017 - #EnergyPolicy #EnergyTransformation #GlobalEconomy #Geopolitics § #IRENA. REthinking Energy 2017: Accelerating the global energy transformation. #RenewableEnergy is a fundamental and growing part of the global energy transformation. Increasingly, renewables have become the first choice for expanding, upgrading and modernising power systems around the world. REthinking Energy, the flagship report from the International Renewable Energy Agency (IRENA), examines trends and developments in the global quest for a sustainable energy future. As this third edition emphasises, accelerated deployment will fuel economic growth, create new employment opportunities, enhance human welfare and contribute to a climate-safe future. Renewables, consequently, are crucial for sustainable development, including the pursuit of SDG 7, the United Nations-adopted goal of ensuring "affordable, reliable, sustainable and modern energy for all". Policies and regulations remain crucial to establish a stable and attractive market for renewable energy. Strong government commitment is needed to reduce risk and lower the cost of financing. To date, more than 170 countries have established renewable energy targets, and nearly 150 have enacted policies to catalyse investments in renewable energy technologies. At the end of 2016, at least 67 countries had held renewable energy auctions, compared to only six in 2005. Solar photovoltaics (PV) achieved new price lows in several countries. In the power sector, breakthroughs in complementary systems, in particular storage, will enable the integration of larger shares of renewable electricity. Off-grid renewables – via both stand-alone systems and mini-grids - can increasingly complement grid-based options to expand sustainable energy access. Battery storage for electricity could increase from less than 1 GW today to 250 GW by 2030, according to IRENA estimates. The market value of battery storage reached USD 2.2 billion in 2015 and is expected to rise to USD 14 billion by 2020. Global PV capacity soared from 40 GW in 2010 to 219 GW in 2015. Solar PV could to account for as much as 7% of global power generation by 2030 - a six-fold increase from today. Global investment in renewables has shown steady growth for more than a decade, rising from less than USD 50 billion in 2004 to a record USD 348 billion in 2015 [irena.org]

» January 26 2017 - #EnergyPolicy § #EUEI PDF paper and kick-off event. The Role of #SustainableEnergy Access in the #Migration Debate. In 2013, 232 million people worldwide were living outside their country of origin and, according to estimates by experts on internal migration, one billion people permanently moved to another place of residence within their country of birth. According to UNHCR, 65.3 million people worldwide were forcibly displaced in 2015 with an average resettlement waiting period for a refugee of 17 years. The increasing international migration flows place a growing demand on host countries’ resources including energy services while, conversely, the international donor community is pushing for efficient use of funds earmarked for humanitarian aid and development, migration and energy programmes. The EUEI PDF discussion forum "Enlightening the Migration Debate: the Importance of Sustainable Energy Access" aims to explore how sustainable energy can help tackle structural causes of migration, and what are the opportunities and challenges for providing sustainable energy to displaced populations and host communities. Based on the EUEI PDF's recently published working paper The Role of Sustainable Energy Access in the Migration Debate, policymakers and practitioners from the field of energy in development and humanitarian aid will discuss policy recommendations and first-hand solutions [euei-pdf.org]

» January 25 2017 - #GlobalEconomy #US § #Trumponomics, America first? America poorer [...] The fundamental equation of macroeconomics says so [...] Y = C+G+I+NX [...] It just means: GDP = Consumption + Government expenditure + Investment + eXports. Now. What are the effects of Trumponomics going to be? Simple. He's going to slash government expenditure. He's going to tear up trade agreements, leading to fewer exports. He's going to deregulate across the board, thus disincentivizing investment (monopolies don't invest: competitive industries do). And he's going to eviscerate public goods like healthcare-and because people will pay more for them, they will be able to spend less on other things, they will be forced to consume less [umairhaque.com]

» January 25 2017 - #Oil #US #FossilFuels § Trump orders revival of #KeystoneXL and #DakotaAccess pipelines [...] Both pipe projects had been blocked by Barack Obama's administration, partly because of environmental concerns. But Trump has questioned the science of climate change and campaigned on a promise to expand energy infrastructure and create jobs [...] Keystone pipeline would span nearly 1,200 miles across six US states, shifting more than 800,000 barrels of petroleum daily from Canadian oil sands through Nebraska to refineries in the Gulf coast [...] Dakota Access pipeline, a $3.7bn project that would transport crude oil from North Dakota through South Dakota and Iowa to a shipping point in Illinois [theguardian.com]

» January 25 2017 - #NaturalGas #TAP § #Gazprom may be interested in using the Trans-Adriatic Pipeline as a method of delivering Russian gas to #Italy [...] #Russia has sufficient installed capacity upstream to deliver more than 100bn m3/yr of extra gas to #Europe but that it faces an infrastructure problem [naturalgasworld.com]

» January 24 2017 - #EnergyPolicy #Coal #GlobalEnergyMix § The United Nations Economic Commission for Europe (#UNECE) and the World Coal Association (#WCA) signed today a Memorandum of Understanding (MoU) that formalizes their long-term collaboration. Through this MoU, UNECE and WCA will work to facilitate a dialogue between governments and the coal industry, with the aim to increase the awareness of the role of coal in the global energy mix and in providing access to affordable and reliable energy for all [unece.org]

» January 24 2017 - #JobVacancies # #UniversityCollegeCork § Vacancy for post-doc researcher for two years with #EnergyPolicy and Modelling Group. Closing date for applications January 31st 2017. This project will develop and test an analytical tool to robustly project sectoral GHG emissions in Ireland for the period to 2050. This will build on the Energy Policy and Modelling Group's extensive track record in projecting sectoral energy demand, in ex-ante and ex-post modelling of the impacts of policy measures and in building integrated energy and agriculture mitigation scenarios for Ireland. The Energy Policy and Modelling Group in UCC has been engaged in energy policy and energy modelling research for over 17 years. The results of this research have been published in journal papers, conference proceedings and reports and have directly informed the development of national energy and climate mitigation policy. The research focus is on i) integrated energy systems modelling, ii) low carbon opportunities and iii) energy policy. The group has strong international engagement and recently hosted the International Energy Workshop 2016 conference [ucc.ie]

» January 23 2017 - #GlobalEconomy #GreenEconomy #SustainableFood #Water #PrivateSectorInvevstment § #ForestTrends Report. State of Private Investment in Conservation 2016. The private sector channeled $8.2 billion (B) of private capital into investments that seek measurable environmental benefits - in addition to financial returns - between 2004 and 2015 [...] The report, which builds upon the 2014 report Investing in Conservation: A landscape assessment of an emerging market, tracks the burgeoning field of "conservation investing" - a component of socially and environmentally conscious "impact investing." By the report's definition, these conservation investments include any private capital committed for sustainable food and fiber production, habitat protection, or clean water that aim to achieve environmental conservation objectives while also delivering a financial return [forest-trends.org]

» January 20 2017 - #EnergyPolicy #ClimatePolicy #EnergyGovernance #Geopolitics #EnergyTransformation #GlobalEconomy § World Economic Forum (#WEF)Report. Game Changers in the #EnergySystem: Emerging Themes Reshaping the Energy Landscape. In the next two decades, three game-changing themes have significant potential to impact the energy system: advanced energy acceleration, mobility revolution and energy system fragmentation. The global energy ecosystem is in the midst of a transformation at a scale and pace perhaps unseen in a century, buffeted by discontinuities in every direction. Deep trends in the global economy, including industrialization in emerging markets, changing demographics, rising nationalism, and innovations affecting cost and efficiency are overturning past assumptions about the demand for energy - and the supply of fuels and feedstocks that drive it. Technology disruptions have unlocked vast new sources of energy (e.g. renewables, shale gas, tight oil) while changing the contours of demand for that energy(e.g. advanced materials, light-weighting, electric vehicles). Geopolitical developments are changing production profiles across regions, sometimes at a rapid pace. The arena is being redrawn by government policy and international agreements, reflecting changing public priorities and increased public scrutiny [weforum.org]

» January 20 2017 - #WorldEconomy #SDGs #GreenEconomy § #CorporateKnights. BIG #OIL IS LEFT OFF #DAVOS 'TOP 100'. German engineering giant #Siemens tops a 2017 list of 100 World's Most Sustainable Corporations, published in Davos January 19 which also includes several gas groups. Spanish gas grid operator Enagas is ranked 10th, UK energy supplier Centrica 13th, and Finnish oil firm Neste 23rd despite the latter's continued use of palm oil in its biofuel production. Further down the list, Spanish power group Iberdrola ranked 26th, France's Total 31st, Canada's Enbridge 39th strangely ahead of Norwegian Statoil (47th) which has pledged to divest its last North American oil sands asset in Canada. In the lower half of the Top 100 appear Eni in 62nd place, Canada's Cameco 71st, US privately-owned Hess 73rd and Siemens' arch-rival GE 99th [...] The latter's new owner Shell did not appear in either year's lists - compiled by US magazine Corporate Knights - and nor did BP, Chevron or ExxonMobil for whatever reasons [naturalgasworld.com]

» January 19 2017 - #WorldEconomy #SDGs § #WEF #Davos. In a post-truth world, the fight against #ClimateChange is still winnable [...] The future is in clean, green energy. The question is whether we will get there before the world suffers serious climate disruption and what role we as a community will play. We should continue to push for appropriate policy, because history shows that government policy can be a powerful driver of research, development, and innovation, and because appropriate policies will be essential to future cities [...] However, private-sector leadership on climate will require us to overcome some conceptual obstacles. One conceptual obstacle is that "socially responsible" is not fiscally responsible. In diverse sectors, companies around the globe have proved that isn't true. Just look at BMW. According to a recent report in Forbes, BMW was the world's most sustainable company in 2016, while enjoying low employee turnover, taking a responsible approach to investment, maintaining a low ratio of CEO-to-average worker pay, and, yes, making large profits by making great cars. That said, many socially responsible policies don't address carbon - indeed, BMW lags badly on that point. Addressing climate in terms of both products and policies - including the application of corporate prestige and influence to advance sound climate policy - should be an essential part of any programme of social responsibility. A second is the free-rider problem. For a long time, many argued that it would be ineffective, perhaps even foolish, to act alone on climate: climate change was a global problem that needed a global solution. Going forward, Russia or the US could become drains on the world economy if they continue to promote damaging fossil fuel development, and already some political leaders have suggested that a carbon tax might have to be imposed on US imports. But the fact is: as renewable energy technology becomes increasingly profitable, the companies and countries that lead its development will see their influence and power increase. A third is the idea that efficiency and design are for sissies. Most near-term population growth is likely to be in urban areas, which offers tremendous opportunities not just for energy efficiency but also for creative solutions that support a high quality of life, both at home and in the workplace. The Bullitt Center in Seattle is a case in point: it doesn't just use less energy, it produces energy. The fourth is the hobgloblin of "energy poverty". Of course poor people need energy, but that does not mean they need fossil fuels. To the contrary: the work of Social Entrepreneur Harish Hande, Global Shaper Jaideep Bansal, and others like them demonstrates that renewable power can meet the needs of poor communities quickly and efficiently [weforum.org]

» January 19 2017 - #ClimatePolicy #CarbonMarket #LowCarbonEconomy #EnvironmentalJustice § Bulletin of the Atomic Scientists. Pricing Carbon: #California's unfinished climate priority. At the close of their legislative session in August, California lawmakers passed one of the world's most significant climate policies—SB 32, named after the state's original climate law from a decade earlier, AB 32. The new bill added a single line to its predecessor, requiring the state to reduce its greenhouse gas emissions 40 percent below 1990 levels by 2030. With that single stroke, California began a new chapter in the story of its formidable climate leadership [...] In short, the need for innovation across all sectors of the economy suggests that a piecemeal regulatory approach won't create the private incentives necessary for deep climate mitigation. Only broad carbon pricing can pick up the slack [...] Shifting politics. Legal constraints aren't the only issue in state climate policy, of course. Politics matters, too, and on that count one of the most important developments this year was the re-emergence of the environmental justice community as a powerful new voice in the California climate policy debate. This bloc signaled its arrival by pushing another bill, AB 197. Environmental justice advocates successfully tied its passage to the new climate legislation, such that only if both bills passed would either take effect. Both did [...] A social justice solution. We believe the best way to bridge this divide is to rebate a substantial portion of the revenue collected under a carbon pricing program back to California residents-ideally in a direct and tangible way that generates good will among new constituencies, not just actuarial tables promising a progressive outcome. Making carbon revenue benefits obvious to everyday people holds enormous potential, but will work only if a broad coalition of non-traditional organizations recognizes the benefits and works to support a bill [/thebulletin.org]

» January 18 2017 - #China #Coal #CCS #CO2 § #IEA. The potential for carbon capture and storage in China. Continued heavy dependence on Coal for electricity generation is one of the world's top environmental challenges and yet the future of coal depends largely on only one country. China is simultaneously the world's leader in renewable electricity capacity and the world's largest emitter of energy-related carbon dioxide, with around half of these emissions coming from coal-fired power stations. Despite encouraging signs that China is limiting new coal plant construction, China currently has over 900 gigawatts (GW) of installed coal-fired power capacity, representing almost 50% of the global total, and had nearly 200 GW under construction at last count. China's coal fleet is one of the youngest in the world, with two-thirds of the plants built since 2005 and most of its plants could run for another three or four decades [iea.org]

» January 18 2017 - #ClimateChange #GlobalWarming #ClimatePolicy #Geopolitics #Trump § #NASA and #NOAA jointly declared 2016 the hottest year on record, surpassing the previous record set just last year - which, itself, had topped a record set in 2014. Average surface temperatures in 2016, according to the National Oceanic and Atmospheric Administration, were 0.07 degrees Fahrenheit warmer than 2015, and featured eight successive months (January through August) that were individually the warmest since the agency's record began in 1880. The average temperature across the world's land and ocean surfaces was 58.69 Fahrenheit, or 1.69 degrees above the 20th century average of 57 degrees, NOAA declared. The agency also noted that the record for the global temperature has now successively been broken five times since the year 2000. The years 2005 and 2010 were also record warm years, according to the agency's dataset. NASA concurred with NOAA, also declaring 2016 the warmest year on record in its own dataset that tracks the temperatures at the surface of the planet's land and oceans, and expressing "greater than 95 percent certainty" in that conclusion. The agency noted that just since the year 2001 the planet has seen "16 of the 17 warmest years on record [...] The record comes just two days before Donald Trump, who has tweeted that global warming is a "hoax," assumes the presidency and with it, control over the two science agencies that just announced these records. [washingtonpost.com]

» January 17 2017 - #SDGs #EnergyGovernance #ClimatePolicy § IASS Report. #SustainableEnergy in the #G20: Prospects for a #GlobalEnergyTransition. The study considers the potential of the G20 to shape a global transition to sustainable energy, urgently needed in order to achieve the UN's climate and sustainability goals. The G20, a group of major emerging and industrialised economies, is a high-level political forum that brings together a heterogeneous set of members. The Group carries great weight in international energy governance, and accounts for 80 percent of the world's total primary energy consumption and 82 percent of global energy-related CO2 emissions. Thus, decisions and actions of the G20 and its members have the capacity to significantly impact global energy systems. Building on contributions by country experts, the study analyses the energy sector developments of 14 G20 members. Short case studies trace major trends and policy initiatives in the countries and identify both potential conflicts of interest and existing common ground within the G20. Each study offers an assessment of potential impulses originating from the respective case, and how these might help foster international cooperation for advancing a global energy transition [iass-potsdam.de]

» January 17 2017 - #ClimateJustice #EconomicInequality #InternationalAgreements #FiscalPolicy #SustainableDevelopment #Globalization #CorporationTax #CarbonEmissions § #Piketty. We must rethink globalization, or Trumpism will prevail. Trump's victory is primarily due to the explosion in economic and geographic inequality in the United States over several decades and the inability of successive governments to deal with this. Both the Clinton and the Obama administrations frequently went along with the market liberalization launched under Reagan and both Bush presidencies. At times they even outdid them: the financial and commercial deregulation carried out under Clinton is an example. What sealed the deal, though, was the suspicion that the Democrats were too close to Wall Street - and the inability of the Democratic media elite to learn the lessons from the Sanders vote [...] The main lesson for Europe and the world is clear: as a matter of urgency, globalization must be fundamentally re-oriented. The main challenges of our times are the rise in inequality and global warming. We must therefore implement international treaties enabling us to respond to these challenges and to promote a model for fair and sustainable development [theguardian.com]

» January 17 2017 - #ClimatePolicy #NDCs #SDGs #EnergyPolicy § #ODI Report. The effectiveness of national energy policy will be decisive for achieving the objectives of both the Paris Agreement and the SDGs. Analysis of NDCs and national energy objectives by the Overseas Development Institute (ODI) shows that NDCs do not all include action to reduce energy-related emissions. Those that do, do not necessarily address emissions from all sources of energy, and it is not always clear whether pledges in NDCs are coherent with existing national energy policies and plans. ODI has just published a policy brief that provides a summary of analysis of the extent to which plans and objectives for the development of the energy sector in 30 low- and middle-income countries contribute to and are coherent with their NDCs. The policy brief, Aligning objectives: International climate commitments and national energy strategies, recommends that governments: Include energy emission reduction objectives in all NDCs; Align national energy sector plans, national SDG energy targets and NDCs, and Provide international support to low- and middle-income countries to revise energy plans and enable them to plan for low-carbon energy systems [odi.org]

» January 17 2017 - #NaturalGas #SGC #EU § #WorldBank and the the government of #Azerbaijan January 16 signed a $400mn loan agreement funding the TransAnatolian gas pipeline (#Tanap) that will deliver Caspian gas to Turkey and Europe. Tanap, part of the southern gas corridor project (SGC), will transport natural gas from the Shah Deniz field in Azerbaijan to and across Turkey, and further to Europe, aiming to diversify Azerbaijan's gas export markets and improve the security of the energy supply in Turkey and southeastern Europe, the bank said. Besides Tanap it includes the development of the Shah Deniz 2 field; an expansion of the South Caucasus pipeline across Azerbaijan and Georgia to Turkey; and the TransAdriatic pipeline (#TAP), which carries the gas through Greece and Albania and under the Adriatic Sea to southern Italy [naturalgasworld.com]

» January 16 2017 - #WorldEconomy #ClimateChange #Globalization #Innovation #IncomeDisparity #LabourMarket #MarketCapitalism § #WorldEconomicForum. #GlobalRisks Report 2017. The Global Risks Landscape. One of the key inputs to the analysis of The Global Risks Report is the Global Risks Perception Survey (GRPS), which brings together diverse perspectives from various age groups, countries and sectors: business, academia, civil society and government. This year's findings are testament to five key challenges that the world now faces. The first two are in the economic category, in line with the fact that rising income and wealth disparity is rated by GRPS respondents as the most important trend in determining global developments over the next 10 years. This points to the need for reviving economic growth, but the growing mood of anti-establishment populism suggests we may have passed the stage where this alone would remedy fractures in society: reforming market capitalism must also be added to the agenda. With the electoral surprises of 2016 and the rise of once-fringe parties stressing national sovereignty and traditional values across Europe and beyond, the societal trends of increasing polarization and intensifying national sentiment are ranked among the top five. Hence the next challenge: facing up to the importance of identity and community. Rapid changes of attitudes in areas such as gender, sexual orientation, race, multiculturalism, environmental protection and international cooperation have led many voters - particularly the older and less-educated ones - to feel left behind in their own countries. The resulting cultural schisms are testing social and political cohesion and may amplify many other risks if not resolved. Although anti-establishment politics tends to blame globalization for deteriorating domestic job prospects, evidence suggests that managing technological change is a more important challenge for labour markets. While innovation has historically created new kinds of jobs as well as destroying old kinds, this process may be slowing. It is no coincidence that challenges to social cohesion and policy-makers' legitimacy are coinciding with a highly disruptive phase of technological change. The fifth key challenge is to protect and strengthen our systems of global cooperation. Examples are mounting of states seeking to withdraw from various international cooperation mechanisms. A lasting shift in the global system from an outward-looking to a more inward-looking stance would be a highly disruptive development. In numerous areas - not least the ongoing crisis in Syria and the migration flows it has created - it is ever clearer how important global cooperation is on the interconnections that shape the risk landscape. Further challenges requiring global cooperation are found in the environmental category, which this year stands out in the GRPS. Over the course of the past decade, a cluster of environment-related risks - notably extreme weather events and failure of climate change mitigation and adaptation as well as water crises - has emerged as a consistently central feature of the GRPS risk landscape, strongly interconnected with many other risks, such as conflict and migration. This year, environmental concerns are more prominent than ever, with all five risks in this category assessed as being above average for both impact and likelihood [weforum.org]

» January 16 2017 - #NuclearEnergy § Bulletin of the Atomic Scientists Paper. The incredible shrinking nuclear offset to #ClimateChange. Can nuclear energy be much help when it comes to fighting climate change? Or have nuclear energy advocates greatly overstated their case? The likelihood that nuclear power will play a significant role in mitigating climate change is very low, absent a game-changing innovation that allows cheaper, safer nuclear power plants to come on-line much more quickly [tandfonline.com]

» January 16 2017 - #LowCarbonEconomy #NuclearEnergy #ClimatePolicy #EnergyPolicy § Bulletin of the Atomic Scientists. #Global Nuclear Power Database, World Nuclear Power Reactor Construction, 1951-2017 [/thebulletin.org]

» January 16 2017 - #EnergyPolicy #ClimatePolicy #OilPrice #Geopolitics § #Insightenergy Paper. The #EnergyTransition in a Scenario of Sustained Low #FossilFuel Prices. After a four-year period during which crude oil was trading at an average of $115/bl (Baffes et al, 2015), prices started to plummet in June 2014, raising immediate concerns about the resilience of energy transition processes. At that time, some argued that the expansion of clean energy solutions would not be derailed, referring inter alia to the cyclical nature of oil prices; because a swift rebound seemed highly likely, they considered that reducing the oil dependence remained the only valid strategy from an economic perspective. This argument may have lost some of its appeal now that a "lower for longer" price scenario has gained credibility [insightenergy.org]

» January 16 2017 - #JobVacancies #ClimateChange #SocietyTransformation § #FutureEarth #Vacancy: Executive Director. Submit applications by 3 February 2017 for consideration as Executive Director of Future Earth. Future Earth is a major international research programme for global sustainability. We provide international facilitation and coordination of research around the greatest challenges facing humanity - and engage policy, business and the public in exploring ways to address these challenges. Our work stretches from climate change and biodiversity to human health and transformation of societies. We work with many of the world's leading experts on global grand challenges. The Future Earth Global Secretariat is distributed across five hubs located in Colorado, Montreal, Paris, Stockholm and Tokyo.[futureearth.org]

» January 16 2017 - #ClimateChange § #WRR-Policy Brief on national #ClimatePolicy in the #Netherlands. Climate policy for the long term calls for a balance between political commitment and adaptive capacity. In this policy brief the WRR recommends enhancing the institutional safeguards and long-term perspective in Dutch national climate policy. A Climate Act could legally determine a national emissions budget. A Climate Authority is necessary to ensure consistent implementation in various policy areas and at different levels of administration [wrr.nl]

» January 13 2017 - #FinancialDisclosures #ClimatePolicy #WorldEconomy #CorporateManagement #InvestmentFunds § Financial Implications of #ClimateChange. Recommendations of the Task Force on Climate-related Financial Disclosures. One of the most significant, and perhaps most misunderstood, risks that organizations face today relates to climate change. While it is widely recognized that continued emission of greenhouse gases will cause further warming of the planet and this warming could lead to damaging economic and social consequences, the exact timing and severity of physical effects are difficult to estimate. The large-scale and long-term nature of the problem makes it uniquely challenging, especially in the context of economic decision making. Accordingly, many organizations incorrectly perceive the implications of climate change to be long term and, therefore, not necessarily relevant to decisions made today. The potential impacts of climate change on organizations, however, are not only physical and do not manifest only in the long term. To stem the disastrous effects of climate change within this century, nearly 200 countries agreed in December 2015 to reduce greenhouse gas emissions and accelerate the transition to a lower-carbon economy. The reduction in greenhouse gas emissions implies movement away from fossil fuel energy and related physical assets. This coupled with rapidly declining costs and increased deployment of clean and energy-efficient technologies could have significant, near-term financial implications for organizations dependent on extracting, producing, and using coal, oil, and natural gas. While such organizations may face significant climate-related risks, they are not alone. In fact, climate-related risks and the expected transition to a lower-carbon economy affect most economic sectors and industries. While changes associated with a transition to a lower-carbon economy present significant risks, they also create significant opportunities for a broad range of organizations focused on climate change mitigation and adaptation solutions [fsb-tcfd.org]

» January 13 2017 - #ClimateFinance #LowCarbonEconomy #GreenEconomy #WorldBank § #IFC report. Climate investment opportunities total 23 trillion in emerging markets by 2030. Since the Paris Agreement was adopted in December 2015, a total of 189 countries have submitted their national plans that target aggressive growth in climate solutions-including renewable energy, low-carbon cities, energy efficiency, sustainable forest management, and climate-smart agriculture. These plans, called Nationally Determined Contributions (NDCs), offer a clear roadmap for investments that will target climate-resilient infrastructure and offset higher upfront costs through efficiency gains and fuel savings. An IFC report shows that the historic global agreement on climate change adopted in Paris helped open up nearly $23 trillion in opportunities for climate-smart investments in emerging markets between now and 2030. IFC's study, based on the national climate-change commitments and underlying policies of 21 emerging-market economies, representing 48 percent of global emissions, identifies sectors in each region where the potential for investment is greatest. This includes: East Asia and the Pacific: green buildings-where China, Indonesia, the Philippines, and Vietnam show a climate-smart investment potential of $16 trillion. Latin America and the Caribbean offer the next largest opportunity-particularly in sustainable transportation, where the potential for investment in Argentina, Brazil, Colombia, and Mexico is about $2.6 trillion. South Asia: Opportunities are mostly seen in climate-resilient infrastructure, where $2.5 trillion of opportunities exist in India and Bangladesh. Sub-Saharan Africa represents a $783 billion opportunity-particularly for clean energy in Cote d'Ivoire, Kenya, Nigeria, and South Africa. Eastern Europe, with its biggest markets-Russia, Serbia, Turkey, and Ukraine-shows a combined investment potential of $665 billion, mostly in energy efficiency and new green buildings. Middle East and North Africa: the total climate-investment potential for Egypt, Jordan, and Morocco is estimated at $265 billion, over a third of which is for renewable-energy generation, while 55 percent ($146 billion) is for climate-smart buildings, transportation, and waste solutions [ifc.org]

» January 13 2017 - #OilMarket #OilProduction #Opec #US § #EIA - Today in #Energy Crude #OilPrices expected to increase slightly through 2017 and 2018. The U.S. Energy Information Administration's January Short-Term Energy Outlook (STEO) forecasts benchmark North Sea Brent and West Texas Intermediate (WTI) crude oil prices to average $53 per barrel (b) and $52/b, respectively, in 2017, close to their levels during the last three weeks of 2016. These prices are expected to rise to $56/b and $55/b, respectively, in 2018. EIA's price forecasts have wide uncertainty bands that are consistent with contract values for future delivery. For example, contracts traded during the five-day period ending January 5 suggest that the market expects WTI prices could range from $35/b to $93/b (at the 95% confidence interval) in December 2017. Strong demand and the recent agreement among members of the Organization of the Petroleum Exporting Countries (OPEC)-along with some key non-OPEC oil producers-are putting upward pressure on crude oil prices. However, forecast increases in global production should provide downward pressure on prices and mitigate the potential for significant crude oil price increases through 2018. Despite the recent OPEC agreement, EIA expects global petroleum and other liquid inventory builds to continue, but at a slowing rate, in 2017 and 2018. Despite increases in global oil inventories and U.S. oil rig productivity, market reactions to the November OPEC agreement to cut production by 1.2 million barrels per day (b/d) starting in January 2017 contributed to rising oil prices in December, when average Brent prices were $9/b above their November levels. In response to the price movement, in the January STEO, EIA increased its crude oil price forecast for both Brent and WTI by $2/b from the December STEO forecast for 2017. The slight price discount of WTI to Brent in the forecast is based on the assumption of competition between the two crude oils in the U.S. Gulf Coast refinery market [...] Total U.S. crude oil production is estimated to have averaged 8.9 million b/d in 2016, down 0.5 million b/d from 2015, with all of the production decline in the Lower 48 onshore. EIA forecasts U.S. crude oil production will increase to an average of 9.0 million b/d in 2017 and 9.3 million b/d in 2018. Forecast production in 2017 is 0.2 million b/d higher than in the previous forecasts, reflecting higher drilling activity, drilling efficiency, and well-level productivity than in previously assumed. In the previous forecast, EIA generally expected Lower 48 onshore production to decline through the end of 2017. However, the new forecast reflects crude oil prices near or above $50/b, which have led to increased investment by some U.S. production companies, particularly in the Permian Basin [eia.gov]

» January 12 2017 - #ClimatePolicy #Geopolitics § #CIGI cinema series. The documentary The Age of Consequences takes a new twist on climate change, investigating the impacts of climate change, resource scarcity, migration, and conflict through the lens of US national security and global stability. Through unflinching and eye-opening analysis, distinguished admirals, generals, and Pentagon insiders take us beyond the headlines of the #EuropeanRefugeeCrisis, the conflict in #Syria, the social unrest of the #ArabSpring, the rise of radicalized groups like #ISIS, and lay bare how #ClimateChange interacts with societal tensions, sparking conflict [cigionline.org]

» January 11 2017 - #CleanEnergy #ClimatePolicy #WorldEconomy #US #Geopolitics #Science #Obama #PolicyForum § The irreversible momentum of clean energy. The release of carbon dioxide (CO2) and other greenhouse gases (GHGs) due to human activity is increasing global average surface air temperatures, disrupting weather patterns, and acidifying the ocean (1). Left unchecked, the continued growth of GHG emissions could cause global average temperatures to increase by another 4°C or more by 2100 and by 1.5 to 2 times as much in many midcontinent and far northern locations (1). Although our understanding of the impacts of climate change is increasingly and disturbingly clear, there is still debate about the proper course for U.S. policy—a debate that is very much on display during the current presidential transition. But putting near-term politics aside, the mounting economic and scientific evidence leave me confident that trends toward a clean-energy economy that have emerged during my presidency will continue and that the economic opportunity for our country to harness that trend will only grow. This Policy Forum will focus on the four reasons I believe the trend toward clean energy is irreversible [science.sciencemag.org]

» January 11 2017 - #ClimatePolicy #ClimateMitigation #NDCs #ParisAgreement #ClimateRisk #LowCarbonEconomy § TRANSrisk Report on the Complementarity of Qualitative and Quantitative Analytical Tools. TRANSrisk case studies focus on how pathways towards a low-emission future can be achieved within the domestic context of countries. For such analyses both quantitative (such as models) and qualitative (participatory) analytical tools are used. The report supports the participatory consultations with stakeholders, to mobilise tacit knowledge of stakeholders in the case study countries and help integrate qualitative and quantitative analysis in TRANSrisk. Moreover, the report concludes with an identification of how complementary application of qualitative and quantitative tools could support formulation of Nationally Determined Contributions (NDCs) as required under the Paris Agreement [transrisk-project.eu]

» January 10 2017 - #Geopolitics #EnergyPolicy #EU § #OxfordEnergy Publication. The Future of #Gas in #Decarbonising European #EnergyMarkets - the need for a new approach. The European gas industry has argued that gas can be a bridging fuel in the transition to decarbonised energy markets because of the advantages of switching from coal to gas, and the role of gas in backing up intermittent renewable power generation. While this remains a logical approach for some countries, in others it has proved either not relevant, or generally unsuccessful in gaining acceptance with either policymakers or the environmental community. Policy decisions will be taken in the next 5-10 years which will irreversibly impact the future of gas in the period 2030-50. A paradigm shift in commercial time horizons and gas value chain cooperation will be necessary for the industry to embrace decarbonisation technologies (such as carbon capture and storage), which will eventually be necessary if gas is to prolong its future in European energy markets. To ensure a post-2030 future in European energy balances, the gas community will be obliged to adopt a new message: 'Gas can Decarbonise' (and remain competitive with other low/zero carbon energy supplies). It will need to back up this message with a strategy which will lead to the decarbonisation of methane starting no later than 2030. Failure to do so will be to accept a future of decline, albeit on a scale of decades, and to risk that by the time the community engages with decarbonisation, non-methane policy options will have been adopted which will make that decline irreversible [oxfordenergy.org]

» January 10 2017 - #LowCarbonEconomy #EIB #EU #CANEurope § Reviewing the European Investment Bank's #CarbonFootprint methodology. The European Investment Bank developed its methodology for calculating greenhouse gas emissions in 2012, and is now considering its further review. In this briefing CAN Europe together with CEE Bankwatch, WWF, Friends of the Earth Europe and Counterbalance review the existing carbon footprint methodology and provide recommendations for its further review [caneurope.org]

» January 9 2017 - #EnergyStorage #EV #ElectricVehicles § #Tesla gigafactory starts up. Tesla and Panasonic begin mass production of lithium-ion battery cells, which will be used in Tesla's energy storage products and Model 3. The high performance cylindrical "2170 cell" was jointly designed and engineered by Tesla and Panasonic to offer the best performance at the lowest production cost in an optimal form factor for both electric vehicles and energy products. Production of 2170 cells for qualification started in December and production begins on cells that will be used in Tesla's Powerwall 2 and Powerpack 2 energy products. Model 3 cell production will follow in Q2 and by 2018, the Gigafactory will produce 35 GWh/year of lithium-ion battery cells, nearly as much as the rest of the entire world's battery production combined. The Gigafactory is being built in phases so that Tesla, Panasonic, and other partners can begin manufacturing immediately inside the finished sections and continue to expand thereafter [tesla.com]

» January 5 2017 - #WorldEconomy #SustainableDevelopment #SDGs § the #OsloManifesto. #Design, #Architecture, and #CityPlanning play a critical role in the creation of a sustainable world. How can we get more creative professionals to take responsibility and truly realize the difference they can make? the Oslo Manifesto: a special document created to increase global awareness of the SDGs among designers of all kinds, architects, and city planners. And to inspire and empower them to use the SDGs in their work. The Oslo Manifesto (first written and signed in Oslo) was the joint creation of the Norwegian Center for Design and Architecture (DOGA), a government agency in Norway; and 17Goals.org, a multi-stakholder partnership [oslomanifesto.org]

» January 4 2017 - #Oil #Geopolitics § #ExxonMobil would easily rank among the world's largest 50 economies if it were an independent state, according to data collected by the #WashingtonPost. Exxon generated more revenue in 2015 than the gross domestic products of either Ireland or Chile. Exxon earned $289 billion in revenue during 2015, a figure that would make the company the 41st largest economy in the world [petroglobalnews.com]

» January 3 2017 - #Coal § #EnergyCapital. Outlook 2017. There are three major catalysts [...] giving coal a boost early in 2017: Trump; Natural gas; China [...] Trump's campaign included promises of reducing restrictions on oil, gas, and coal operations especially. Reducing the restrictions put on the coal industry by the Obama administration will be a top priority [...] this energy war isn't actually between coal and renewables; it's between coal and natural gas [...] Right now, China is wanting for foreign coal. But with consumption on its way back down, that supply-demand imbalance won't last [energyandcapital.com]

» January 2 2017 - #Geopolitics #EnergyPolicy § #Iran Names 29 Foreign E&P Firms for Upstream #Oil Tenders. The National Iranian Oil Company (NIOC) has released the list of 29 qualified foreign oil and gas exploration and production (E&P) companies for attending tenders aimed at developing upstream projects in Iran's oil sector, in big step to opening up Iran's oil and gasfields to western investment. NIOC is planning to put to a round of tenders several upstream oil and gas projects and has invited these 29 companies to partake in the bids. The companies are from countries like #Germany, #France, #Italy, #Norway, #Malaysia, #Russia, #Austria, #Thailand, #Japan, #Poland, the #Netherlands, the #UK, #Spain, #China, etc. The companies include: #CEPSA Spain, #CNPC, #Eni, #Gasprom, Japan Petroleum Exploration, Korea Gas Corporation, #Lukoil, #Maersk, #Mitsui, #OMV, #ONGC Videsh Limited, #Pertamina, #Petronas, #Shell, #Total, and #Schlumberger [shana.ir]

» January 2 2017 - #Geopolitics #WorldEconomy #EnergyPolicy § 2017 Annual Forecast. The convulsions to come in 2017 are the political manifestations of much deeper forces in play. In much of the developed world, the trend of aging demographics and declining productivity is layered with technological innovation and the labor displacement that comes with it. China's economic slowdown and its ongoing evolution compound this dynamic. At the same time the world is trying to cope with reduced Chinese demand after decades of record growth, China is also slowly but surely moving its own economy up the value chain to produce and assemble many of the inputs it once imported, with the intent of increasingly selling to itself. All these forces combined will have a dramatic and enduring impact on the global economy and ultimately on the shape of the international system for decades to come. These long-arching trends tend to quietly build over decades and then noisily surface as the politics catch up. The longer economic pain persists, the stronger the political response. That loud banging at the door is the force of nationalism greeting the world's powers, particularly Europe and the United States, still the only superpower. Only, the global superpower is not feeling all that super. In fact, it's tired. It was roused in 2001 by a devastating attack on its soil, it overextended itself in wars in the Islamic world, and it now wants to get back to repairing things at home. Indeed, the main theme of U.S. President-elect Donald Trump's campaign was retrenchment, the idea that the United States will pull back from overseas obligations, get others to carry more of the weight of their own defense, and let the United States focus on boosting economic competitiveness [stratfor.com]

» December 28 2016 - #EnergyPolicy #Finance § #ClimatePolicy Paper. Reaching #India's #RenewableEnergy Targets: The Role of Institutional Investors. India has ambitious renewable energy targets of 175GW by 2022. In 2014, the Government of India embarked on an ambitious plan to increase the share of renewable energy in the country's energy mix, setting targets to achieve 175 GW of installed renewable energy capacity by 2022. This includes 100 GW of solar power, 60 GW of wind power, 10 GW of waste-to-energy power and 5 GW of small hydropower by 2022. This is a significant increase from existing capacities of 3.5 GW, 23 GW, 4.4 GW and 4.2 GW, respectively (MNRE, November 2015). In order to meet this target of 175 GW by 2022, the renewable energy sector in India will require $189 billion in additional investment. The USD $189 billion requirement includes $57 billion in equity, and $132 billion in debt. We estimated this using capital expenditure forecasting for renewable energy projects (including solar power, onshore wind power, small hydropower, and waste-to-energy power) between 2016 and 2022. The potential amount of investment in the renewable energy sector in India is more than double the investment required. However, the amount of investment expected falls short of the investment required, by 29% for equity and 27% for debt. The potential for investment up to 2022 is $411 billion. The investment potential for equity is $220 billion - four times the equity investment required - and the investment potential for debt is $191 billion - 45% more than required. This indicates that more than sufficient investment potential is available for financing the renewable energy targets by 2022 [...]

» December 28 2016 - #LowCarbonEconomy #GreenEconomy #BlueEconomy #MarineEmìnvironment § #IMO. The 70th session of the Marine Environment Protection Committee (MEPC) was held from 24-28 October 2016, at International Maritime Organisation (IMO) Headquarters in London. The meeting adopted key decisions which are likely to have a long-lasting effect on the marine environment and would contribute to enhancing the Blue Economy [maritimeindia.org]

» December 23 2016 - #EnergyPolicy #Geopolitics § #EIA, U.S. Crude #Oil and #NaturalGas #ProvedReserves, Year-end 2015. Between year-end 2014 and year-end 2015, U.S. crude oil and lease condensate proved reserves decreased from 39.9 billion barrels to 35.2 billion barrels-a decrease of 4.7 billion barrels (11.8%). Over the same period, proved reserves of U.S. total natural gas1decreased by 64.5 trillion cubic feet (Tcf) (16.6%), declining from 388.8 Tcf in 2014 to 324.3 Tcf. The average West Texas Intermediate (WTI) crude oil spot prices declined almost 50% (from $95 per barrel in 2014 to $50 per barrel in 2015), and the average spot price of natural gas at the Louisiana Henry Hub declined more than 40% from $4.55 per million Btu in 2014 to $2.62 per million Btu in 2015. The significant reduction in prices, which resulted in a more challenging characterization of existing economic and operating conditions that are considered in the definition of proved reserves, led to downward revisions across a broad range of U.S. producers [eia.gov]

» December 22 2016 - #ClimatePolicy #G20 #WorldEconomy #EquityProject § German Advisory Council on Global Change (#WBGU) report. 2015 saw a historic double success for sustainability and climate policy. The 2030 Agenda for Sustainable Development and the Paris Agreement establish a system of ambitious policy goals for the world. The group of twenty major ­industrialized and emerging economies (G20) now needs to resolutely advance implementation of both agreements, seizing the opportunity of this 'Great Transformation' to sustainability as a unique ­modernization project that could offer substantial economic development opportunities. Complete ­decarbonization of the world economy, which is necessary to avoid the gravest climate risks, can only be achieved by profoundly ­transforming energy systems and other high-emissions infrastructures. This transformation could inspire ­Innovation and channel Investment into sustainability and climate protection, and into the kinds of ­sustainable Infrastructures that need to be ­established and expanded. At the same time, the transformation could combat inequality and promote ­Inclusion within societies and globally, thus becoming an equity project [wbgu.de]

» December 21 2016 - #SustainableEnergySystem § #IEA Report. #EnergyEfficiency Indicators Highlights 2016. The report includes country-specific analysis of end uses across the largest sectors - residential, services, industry and transport. It answers questions such as: What are the largest drivers for energy use trends in each country? Was energy saved because of efficiency progress over time? How much energy is used for space heating, appliances or cooking? What are the most energy-intensive industries? Improving energy efficiency is a critical step for governments to take to move towards a sustainable energy system. This report highlights the key role of end-use energy data and indicators in monitoring progress in energy efficiency around the world [iea.org]

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