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BloombergNEF: clean energy investment in developing nations slumps as financing in China slows; coal burn surges to record high

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Overall, declining costs for solar and wind played a considerable factor in the fall in absolute dollar investment in emerging economies. Most notably, Vietnam, South Africa, Mexico and Morocco led the rankings with a combined investment of $16 billion in 2018. —Luiza Demôro, project manager for BloombergNEF.

Coal 243
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Energy ministers agree to help speed up global deployment of carbon capture and storage

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The following governments agreed to continue or initiate action in support of one or more of these recommendations by the next Clean Energy Ministerial: Australia, Canada, France, Germany, Japan, Mexico, Norway, Republic of Korea, South Africa, the United Arab Emirates, the United States and the United Kingdom.

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Ricardo study predicts that BRIC automotive markets will be eclipsed by the “Rising-15”

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Ricardo’s Rising-15 automotive markets include: Argentina; Egypt; Indonesia; Iran; Malaysia; Mexico; Morocco; Nigeria; Peru; the Philippines; South Africa; Thailand; Turkey; Ukraine; and Vietnam. Nissan introducing new Datsun in Indonesia.

Market 210
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BRIMCS countries, and especially China, outspending IEA countries in energy RDD

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The study, by the Energy Technology Innovation Policy research group at Harvard Kennedy School’s Belfer Center for Science and International Affairs, found that a minimum of $13.8 Data: Kempener et al. Click to enlarge. The majority of these funds (82%) came from 100% government owned enterprises in China. Source: Kempener et al.

China 199
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G20 Leaders Agree to Phase Out Fossil Fuel Subsidies

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We ask the international financial institutions to offer support to countries in this process. The Group of Twenty (G20) Finance Ministers and Central Bank Governors was established in 1999 to bring together systemically important industrialized and developing economies to discuss key issues in the global economy.

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ExxonMobil: global GDP up ~140% by 2040, but energy demand ~35% due to efficiency; LDV energy demand to rise only slightly despite doubling parc

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Significant growth in the global middle class, expansion of emerging economies and an additional 2 billion people in the world will contribute to a 35% increase in energy demand by 2040, according to ExxonMobil’s latest Outlook for Energy report. The OECD represents the developed economies. Click to enlarge. Outlook for Energy.

Energy 252
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PwC analysis finds meeting 2 C warming target would require “unprecedented and sustained” reductions over four decades

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The low annual rate of global reduction of carbon emissions per unit of GDP needed to limit global warming to 2 °C—based on the probability assessments of the UN IPCC—is insufficient to achieve that goal, according to the latest Low Carbon Economy Index published by business consultancy PwC. —PwC report. —PwC.