‘Cooperation in a fragmented world’ was the theme at the World Economic Forum in Davos, but Europe is still struggling to catch up with the cleantech policies of the US and China.
Global hydrogen production is set to become greener, with patent data suggesting a shift towards a new wave of innovation and scientific development in electrolysis technology.
New green industries could be worth $10.3 trillion to the global economy by 2050, equivalent to 5.2% of global GDP that year, finds a new report by Arup and Oxford Economics.
As the Western nuclear industry flounders, Russia’s Rosatom is building nuclear power plants on time and under budget around the world, while selling uranium to the United States.
World coal consumption reached a new high in 2022 before levelling out in 2023 and 2024, with rising usage in emerging Asian countries cancelling out falling demand in advanced economies.
Kazatomprom said it was avoiding routes across Russia due to sanctions on the country.
The world is set to see global GDP plummet by a catastrophic 15% by 2050 if current emissions trends are not reined in and global warming reaches 2.2°C by 2050.
Rosatom aims to build the first nuclear reactor in Saudi Arabia as part of the company’s global drive to break into emerging markets for atomic energy
Solar is set to overtake coal as the world’s leading source of power supply by early 2025, the IEA said
The global energy crisis caused by Russia’s full-scale invasion of Ukraine has sped up the green transition, Ukraine Business news reported on December 7.
Global investment in energy efficiency could rise by 16% to $560bn in 2022, the International Energy Agency said, as governments and consumers respond to fuel supply disruptions and record-high energy prices.
COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.
Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.
The UN has identified greenwashing by business and finance as the biggest danger facing the race to net zero, urging them to avoid a toxic cover-up and to ensure that any climate pledges they keep are in line with the 1.5-degree targets.
The investments of the world’s 125 wealthiest people produce the same amount of CO2 as the whole of France, while each of them emits a million times more greenhouse gases than the average person.
Emissions from future LNG projects and could use up 10% of the remaining global carbon budget for 1.5˚C warming by 2050.
COP26 has not delivered so far on the promises made in Glasgow in November 2021, with companies failing to move towards zero emissions pledges and the world as a whole not meeting the targets and aspirations laid down.
Wind giant Vestas has reduced its financial expectations for the year because of pressures from inflation and the energy crisis that followed Russia’s invasion of Ukraine.