ENERGY TRANSITION & CLIMATE CHANGE SOLUTIONS: Nov 7, 2020

QUOTABLES:

After 20 years of anticipating the energy transition, our business model positions us as a key agent in the transformation of the industrial fabric. With our experience, our engagement with society and our financial strength, we are advancing a model for long-term sustainable economic growth capable of meeting the current challenges of society

Ignacio Galán CEO of Iberdrola
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Headline Quicklinks

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Main Headlines:

Blue wave or not, a green wave is sweeping the Canadian oilpatch

In a sign of the changing environment in the oilpatch, North America’s largest pipeline company Enbridge Inc. set new net-zero emissions targets Friday and outlined how the company sees the global energy transition from carbon-based energy to renewables playing out over the next few decades.

Enbridge’s target of net-zero emissions by 2050 aligns the Calgary-based pipeline and utilities giant with the country’s three largest oil producers Canadian Natural Resources Ltd., Suncor Energy Inc. and Cenovus Energy Inc., along with European oil majors Royal Dutch Shell Plc, Total SA and BP Plc. — all of whom have adopted net-zero targets.

“Sustainability is integral to our ability to safely and reliably deliver the energy people need and want,” said Al Monaco, president of Enbridge. “How well we perform as a steward of our environment, a safe operator of essential energy infrastructure, and as a diverse and inclusive employer is inextricably linked to our business success and our ability to create long-term value for all stakeholders.”

The move comes as the Canadian oilpatch is facing extreme pressure from influential pension funds and fund managers to reduce its carbon footprint, the federal government’s stringent environmental policy measures, and companies’ fears of being excluded from ESG-indexes which are attracting billions of dollars from a growing number of eco-conscious retail and institutional investors.

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World News

US renewable energy industry cheers Joe Biden election win as ‘beautiful day’

Solar, wind and clean-energy industry bodies send out congratulations for next US President with accent on renewed hope for climate action

The American renewable energy sector has cheered the declared election of Joe Biden as the next President of the United States, with industry bodies placing the accent on the potential for the country to rejoin global climate leadership under the new administration.

The Solar Energy Industries (SEIA) CEO Abigail Ross Hopper said a Biden presidency would “advance clean energy incorporat[ing] environmental justice”, while American Council on Renewable Energy (Acore) CEO Greg Wetstone called the election “historic” and one that would create “the clean energy future that Americans want, and scientists say we need”.

American Wind Energy Association (AWEA) CEO Tom Kiernan said Biden’s win would “shape a cleaner and more prosperous energy future” for the country. And Liz Burdock, CEO of the Business Network for Offshore Wind, suggested the victory was a “vote for a future that focuses on climate change solutions [and] reengaging on the international stage.”

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NEWS AND VIEWS FROM AROUND THE WEB ON ENERGY EFFICIENCY & TRANSITION

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