At its latest board meeting in March 2021, the Green Climate Fund (GCF) approved $1.2 billion in funding for 15 climate change projects in developing countries. However, funding for only two of these projects, or 1.5% of the total amount, went directly to developing country institutions. The GCF, one of the financial mechanisms the Paris […]
Climate Change
RIL May Go Big in its New Energy Business Amid Climate Concerns
As environmental concerns regain momentum across the globe and companies are setting carbon neutral targets, oil-to-telecom major Reliance Industries (RIL) plans to give a major push to its new energy and new materials business. New Delhi: As environmental concerns regain momentum across the globe and companies are setting carbon neutral targets, oil-to-telecom major Reliance Industries […]
What is Carbon Lock-in and How Can We Avoid It?
Put yourself in the shoes of a government planner, power company executive, school superintendent, manufacturer or homeowner. You need to buy an expensive piece of equipment that could be used for decades to come. Spending on projects like power plants, boilers, buildings, vehicles and other types of infrastructure is always an exercise in current budget […]
Solar Power’s Decade of Falling Costs Is Thrown Into Reverse
A key selling point that made solar energy the fastest-growing power source in the world—rapidly decreasing costs—has hit a speed bump. Solar module prices have risen 18% since the start of the year after falling by 90% over the previous decade. The reversal, fueled by a quadrupling in the cost of the key raw material […]
5 Things to Know About the IEA’s Roadmap to Net Zero by 2050
To avoid the worst impacts of climate change and realize the goals of the Paris Agreement, greenhouse gas emissions should fall to net zero by mid-century and then reach net negative emissions thereafter. Responding to the science, 60 countries, as well as scores of companies and cities, have already adopted net-zero targets, and many more […]
Tsingshan Invests in Clean Energy Projects
Tsingshan Industry recently officially launched its project for building a clean energy base. This project seeks to develop and construct solar and wind energy plants and supporting facilities in Tsingshan’s Indonesia Morowali Industrial Park and Indonesia Weda Bay Industrial Park. The project follows six months of intensive feasibility studies and careful planning. Tsingshan Industry is […]
DBS, SGX, Standard Chartered and Temasek to Take Climate Action Through Global Carbon Exchange and Marketplace
DBS, SGX, Standard Chartered and Temasek to develop a carbon exchange and marketplace, Climate Impact X; providing organisations with high-quality carbon credits to address hard-to-abate emissions Climate Impact X will use satellite monitoring, machine learning and blockchain technology to enhance transparency, integrity and quality of carbon credits. Forged as a result of Singapore’s Emerging Stronger […]
RELEASE: HSBC Partners With WRI and WWF to Scale Next Generation Solutions to Climate Change
The US$100m global initiative aims to accelerate efforts to build a net zero global economy, forms part of HSBC’s climate strategy. LONDON : HSBC, in partnership with World Resources Institute (WRI) and WWF, today unveils their Climate Solutions Partnership to unlock barriers to finance for companies and projects that tackle climate change. The partnership’s three […]
Demand for Lithium Raw Materials Surged by 40 Times, IEA
Demand for Lithium Raw Materials Surged by 40 Times; IEA: Ascending Mineral Prices Will Impact Green Energy Development. Numerous countries are currently intensifying on the investment on renewable energy and electric vehicles in the hope of achieving their respective targets in carbon reduction and zero carbon emission. Though the International Energy Agency (IEA) has given […]
5 Ways the World Bank’s Climate Action Plan Could Go Further
The recent 2021 World Bank Group/International Monetary Fund spring meetings took place during challenging times. The COVID-19 pandemic has caused loss of life and exacerbated global poverty and inequality, while draining governments resources. Meanwhile, the impacts of climate change are starting to be felt on a broad scale, resulting in the loss of homes, crops […]