Category Archives: Green economy

Richest nations agree to end support for coal production overseas

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G7 countries reaffirm commitment to limit global heating to 1.5C after nearly two days of wrangling

The world’s richest nations have agreed to end their financial support for coal development overseas, in a major step towards phasing out the dirtiest fossil fuel.

After nearly two days of wrangling at a meeting of the G7 environment and energy ministers, hosted virtually by the UK on Thursday and Friday, all reaffirmed their commitment to limiting global heating to 1.5C, and committed to phasing out coal and fully decarbonising their energy sectors in the 2030s.

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Urgent policies needed to steer countries to net zero, says IEA chief

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Economies are gearing up for return to fossil fuel use instead of forging green recovery, warns Fatih Birol

New energy policies are urgently needed to put countries on the path to net zero greenhouse gas emissions, the world’s leading energy economist has warned, as economies are rapidly gearing up for a return to fossil fuel use instead of forging a green recovery from the Covid-19 pandemic.

Most of the world’s biggest economies now have long-term goals of reaching net zero by mid-century, but few have the policies required to meet those goals, said Fatih Birol, the executive director of the International Energy Agency (IEA).

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Diversify or risk unrest, oil producers warned in report

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As world shifts to green energy, Iraq and Nigeria among those vulnerable to ‘wave of instability’

Oil-dependent countries that are not preparing to adapt to the global shift away from fossil fuels risk their own stability, warns a new report.

Algeria, Iraq and Nigeria are the most vulnerable to “a slow-motion wave of political instability”, according to the risk analysts Verisk Maplecroft.

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Governments failing to fulfil talk of green Covid recovery, UN warns

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Prospect of green focus for rescuing economies in danger unless swift action is taken, environment chief says

Governments around the world are failing to match their green rhetoric with action in rescuing their economies from the Covid-19 pandemic, the UN has warned, with prospects for a “green recovery” in danger unless swift action is taken.

Countries are spending an unprecedented $14.6tn (£10.5tn) on trying to prevent economic collapse, seeking to protect jobs and save businesses on the brink of ruin. However, a UN-backed analysis of 50 leading economies has found only $368bn, or about 18%, of the rescue spending so far can be regarded as green.

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Human destruction of nature is ‘senseless and suicidal’, warns UN chief

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UN report offers bedrock for hope for broken planet, says António Guterres

Humanity is waging a “senseless and suicidal” war on nature that is causing human suffering and enormous economic losses while accelerating the destruction of life on Earth, the UN secretary-general, António Guterres, has said.

Guterres’s starkest warning to date came at the launch of a UN report setting out the triple emergency the world is in: the climate crisis, the devastation of wildlife and nature, and the pollution that causes many millions of early deaths every year.

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Global green recovery plans fail to match 2008 stimulus, report shows

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Exclusive: just 12% of spending on economic rescue packages is going towards low-carbon projects, research finds

Efforts by governments around the world to forge a green recovery from the coronavirus pandemic are so far failing even to reach the levels of green spending seen in the stimulus that followed the 2008 financial crisis, new analysis has shown.

Only about 12% of the spending on economic rescue packages around the world is going towards low-carbon projects, such as renewable energy and clean technology, according to a report by Vivid Economics, published on Friday.

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Rich countries must update financial vows to tackle climate crisis, says UN

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Patricia Espinosa says fulfilling $100bn-a-year promise must be top priority to support developing world

Rich countries must step up with fresh financial commitments to help the developing world tackle the climate crisis, the UN’s climate chief has said.

Patricia Espinosa, executive secretary of the UN Framework Convention on Climate Change, said that fulfilling pledges of financial assistance made a decade ago must be the top priority before vital climate talks – Cop26 – later this year.

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World needs to kick its coal habit to start green recovery, says IEA head

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Energy watchdog’s Fatih Birol says shift away from coal in key regions needs to be made a global priority

Dependency on coal in key parts of the world is preventing a global green recovery from taking off, and the shift away from coal needs to be made a global priority, the head of the world’s energy watchdog has said

Coal still forms a key part of China’s energy system, and plans are in train for further coal-fired power plants in the country. India is also heavily dependent on coal, and despite increasing its renewable energy generation has shown little sign of reducing its use of the fossil fuel.

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Cities can lead a green revolution after Covid. In Barcelona, we’re showing how | Ada Colau

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From non-polluting transport to sustainable industries, urban areas are perfect for testing radical solutions to global problems

• Ada Colau is the mayor of Barcelona

The pandemic will leave behind a very different world from that of a year ago. Thousands of people have died; entire industries have been brought to the brink; welfare states have been shaken. In the coming years, the major challenge facing all public leaders will be charting a path of recovery through the devastating human, social and economic marks that Covid-19 has left on our societies.

But rather than redoubling on the fragile world of the pre-pandemic age, we should be taking advantage of this moment to build one that is more just, balanced and sustainable.

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Ma Jun: China has started to ‘walk the walk’ on climate crisis

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US dropped the environmental ball under Trump, but Biden victory means the two countries can work together for a green recovery, says campaigner

Ma Jun experienced a strange role reversal during Donald Trump’s presidency. Over more than two decades as one of China’s top environmental campaigners, American encouragement for Beijing to cut carbon emissions and temper the damage of rapid industrialisation had been part of the background music. Ma never imagined he would see the US renege on environmental commitments while China began to face up to the challenge.

“It’s been frustrating,” says Ma of the past four years as we speak on the phone, the bustle of Beijing audible in the background. “When it comes to environmental collaboration between the governments, it has been hard to do anything.”

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Banks around world in joint pledge on ‘green recovery’ after Covid

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Climate finance goals declared but campaigners highlight omissions over fossil fuels and poor nations’ support

The world’s publicly financed development banks have pledged to tie together their efforts to rescue the global economy from the Covid-19 crisis and the climate emergency, using their financial muscle to assist a green recovery for poor countries.

But the banks stopped short of pledging an end to fossil fuel finance, and did not set out firm targets for how much funding they would devote to a green recovery in a declaration signed on Thursday by 450 development banks worldwide.

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Boris Johnson to unveil plan to power all UK homes with wind by 2030

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PM vows to make Britain world leader in low-cost clean power with ‘Build Back Greener’ drive

Boris Johnson will promise to power every home in the UK with offshore wind energy within a decade, pledging to make the coronavirus pandemic a catalyst for green growth.

In a speech to the virtual Conservative party conference on Tuesday, he will say that the government will invest in a clean energy future to create “hundreds of thousands, if not millions of jobs” in the next decade.

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French PM says jobs and green economy at heart of Covid recovery plan

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Jean Castex unveils €100bn plan aimed at returning France to pre-pandemic economic strength

France’s prime minister has stressed the importance of getting the country back on its feet within 18 months and “transforming” the French economy with a green makeover as he unveiled a €100bn (£89bn) coronavirus recovery plan.

Jean Castex outlined how France would spend its way out of the crisis, rather than create “social misery” through austerity measures, with a plan that had the environment, competitiveness and employment as its three pillars.

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France’s ‘big green recovery plan’ not big enough for campaigners

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A third of €100bn post-Covid package to be used for greener future, but critics say it falls short

Billed by the economy minister, Bruno Le Maire, as a “big green recovery plan”, one-third of France’s €100bn (£90bn) post-Covid economic stimulus package will be spent, in the government’s words, on “ecological transition” and “greening the economy”.

Environmental groups said the plan, presented on Thursday by the prime minister, Jean Castex, and other cabinet members, marked a welcome first step – but criticised a missed opportunity to break decisively with a growth-driven, high-carbon economy.

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Dutch city redraws its layout to prepare for global heating effects

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Measures include replacing 10% of Arnhem’s asphalt with grass to better cope with heat

The Dutch city of Arnhem is digging up asphalt roads and creating shady areas around busy shopping districts after concluding that the consequences of global heating are unavoidable.

Under a 10-year plan for the city unveiled on Wednesday, a new layout is proposed to better prepare residents for extreme weather conditions such as downpours, droughts and intense heatwaves.

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Governments put ‘green recovery’ on the backburner

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G20 countries aim their pandemic bailout spending at fossil fuel industries, leaving Paris climate change targets in doubt

Governments are spending vastly more in support of fossil fuels than on low-carbon energy in rescue packages triggered by the coronavirus crisis, new data has shown, despite rhetoric from many countries in support of a “green recovery”.

Data from the Energy Policy Tracker, a new research effort by several civil society groups, shows that at least $151bn (£120bn) of bailout cash has been spent or earmarked so far to support fossil fuels by the G20 group of large economies. Only about a fifth of this spending is conditional on environmental requirements such as reducing greenhouse gas emissions or cleaning up pollution.

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US to join summit on global green recovery from Covid-19 crisis

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Exclusive: IEA chief warns rebound in emissions would be missed economic opportunity

The US is to join with other major powers including China, India and the EU in formulating plans for a global green recovery from the coronavirus crisis, in the only major international summit on the climate emergency this year.

The idea of a green recovery to prevent a dangerous rebound in greenhouse gas emissions to above pre-Covid-19 levels has been gathering steam, but few governments have yet committed to plans.

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EU green recovery package sets a marker for the world

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The bloc is showing the way in rebuilding coronavirus-ravaged economies to fight the climate emergency

The European Commission has put down a marker for the world with its green recovery package. It sets a high standard for other nations, using the rebuilding of coronavirus-ravaged economies to tackle the even greater threat of the climate emergency, in principle at least.

With the world fast approaching the point when climate chaos becomes inevitable, how the trillions of recovery dollars – or euros – are spent is a use-it-or-lose-it moment, so what the EU does really matters. Climate change is a global crisis, meaning all nations must act and some must lead the way.

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UK companies to invest £12bn in switch to electric vehicles

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With a fuel duty rise expected in this week’s budget, a survey by Centrica finds businesses on course to move to cleaner cars and vans

British companies are expected to spend more than £12bn switching their fossil fuel vehicles for clean electric versions over the next two years.

A survey found that nearly half of UK businesses are planning to invest in chargeable cars and vans in advance of the government’s ban on sales of new internal combustion engine vehicles by 2035.

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Africa poised to lead way in global green revolution, says report

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Continent is set for massive urbanisation but can avoid relying on fossil fuels, says IEA

Africa is poised to lead the world’s cleanest economic revolution by using renewable energy sources to power a massive spread of urbanisation, says an IEA report.

The IEA, or International Energy Agency, predicts that solar energy will play a big role in supporting the continent’s growing population and industrialisation over the next 20 years.

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