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G20 Leaders Agree to Phase Out Fossil Fuel Subsidies

Green Car Congress

This reform will not apply to our support for clean energy, renewables, and technologies that dramatically reduce greenhouse gas emissions. As we do that, we recognize the importance of providing those in need with essential energy services, including through the use of targeted cash transfers and other appropriate mechanisms.

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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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This geographically diverse group comprises Brazil and Mexico in the Americas; South Africa and Nigeria in Africa; Egypt and Turkey in North Africa/Mediterranean; Saudi Arabia and Iran in the Middle East; as well as Thailand and Indonesia in Asia. The OECD represents the developed economies.

Energy 252
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Global investment in renewable power reached $270.2B in 2014, ~17% up from 2013; biofuel investment fell 8% to 10-year low

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Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 Global investment in renewable power and fuels (excluding large hydro-electric projects) was $270.2 A key feature of the 2014 result was the rapid expansion of renewables into new markets in developing countries.

2014 150
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Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

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By Friday, however, Ramesh appeared to have found a renewed commitment to reducing national emissions, following China’s pledge to reduce its own GHG emissions per unit of GDP by 40-45 per cent of its 2005 levels by the year 2020.

Climate 236
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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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However, the report warns that while it may “buy some time”, it reduces the incentive for investment in lower carbon technologies such as nuclear and renewables, and could lock in emerging economies with high energy demand to a dependence on fossil fuels. Other G20 (Australia, Korea, EU, South Africa, Saudi Arabia, Argentina).

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IRENA: diversifying critical material supply chains minimizes geopolitical risks

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Supply disruptions could impact the speed of the energy transition in the short to medium term, a new report by the International Renewable Energy Agency (IRENA) warns. A renewables-based energy transition, if well-planned and executed, can rewrite the legacy of extractive industries, the report concludes.

Supplies 195