ENERGY TRANSITION & CLIMATE CHANGE SOLUTIONS: Jan 2, 2021

QUOTABLES:

The energy transition is a pathway toward transformation of the global energy sector from fossil-based to zero-carbon by the second half of this century. At its heart is the need to reduce energy-related CO2 emissions to limit climate change

The International Renewable Energy Agency (IRENA)
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Canadian Headlines:

A Green Recovery For Canada: Benefits, Costs, And Recommendations

In early 2020, COVID-19 swept the world, halting economies and bringing life to a standstill. Many were quick to notice the environmental benefits this brought – fish were returning to the Venice Canal and greenhouse gas emissions had dropped to record lows. However, beneath these silver linings was the realization that these environmental gains were only temporary, with many citing the emissions decline during the 2008/09 financial crisis as evidence.

The recovery following this recession resulted in a spike in emissions that more than compensated for the drop. If the recovery from the COVID-19 pandemic is to follow a similar path, the damages to the environment may be irreversible. For this reason, the calls to “build back better” are being echoed in countries everywhere, Canada included.

A green recovery for Canada can bring economic gains as well as environmental, and provides the opportunity for Canada to become a leading supplier in key green markets. Canada is already set to invest billions in the economic recovery following COVID-19. Putting this money into carbon-intensive industries is akin to investing in an obsolete product – the future is green, and the economic benefits that will come from leading the charge will be substantial.

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World News

The Impact Of the New Clean Energy Transition By the Indian Government

Clean energy encompasses all zero-carbon energy sources and is agenda for most countries across the world. Post the Paris Accord, most governments have a definite agenda to reduce carbon footprint by harnessing the green energy sources. This offers a huge investment opportunity; thus clean energy has support from not only the government but also from global funds and multinational companies who are looking to comply with the new paradigm. All renewables sources such as solar and wind form part of clean energy, while the emerging area within this is biofuels, both liquid and solid biofuels. Like any reform even this has to be pushed by the government till the benefits are understood or the cost viability sets in.

Governments in developed nations have pushed the clean energy agenda harder and supported with favorable policies to enable the transition. Case in point is the solar and wind energy capital subsidies given by European countries to promote its use. That not only helped them reduce the carbon footprints but also ensured the equipment ecosystem is developed which then becomes source for the global applications and had an early start for the R&D. We can conclude that the government push in Europe had helped many equipment manufacturers to build their companies, which are now profiting from spread of these concepts globally.

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

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