EPRI’s Post

🗒 Last week, the European Commission (JRC) published its newest science for policy report on the "Global Energy and Climate Outlook 2023- Investment needs in a decarbonised world".   🎯 The report gives an updated view on the implications of energy and climate policies worldwide to reaching the goals of the #ParisAgreement. It sheds light on scaling up investments in #cleantechnologies with the objective of reaching the 1.5 decarbonisation trajectory.   🏭 #Carboncaptureandstorage technologies are mentioned in the report as one of the key solutions to reaching net-zero emissions in the energy-intensive industries. #CCS contributes to decreasing emissions in the power sector and in heavy industries such as the construction and manufacturing sectors.   💡 The report also mentions the role of #biomass in providing net-negative emissions through bioenergy with CCS (#BECCS), which is expected to double by 2030 in order to achieve the 1.5 climate target.   👉 Read the full report here: https://lnkd.in/edhAMR23 #CCS #JRCStudy #netzero2050 #nonetzerowithoutCCS

Let’s talk Climate Finance 📌 Countries with limited resources, will need financial and technical support to make the transition. Though daunting and costly initially, these investments in renewable energy will eventually pay off. “The reduction of pollution & climate impacts alone could save the world up to $4.2 tn yearly by 2030.”United Nations Another benefit is that, efficient, reliable renewable technologies will create a system less prone to market shocks, improve resilience and energy security by diversifying power supply options.

📆 Save the date: A new decarbonization report from The National Academies of Sciences, Engineering, and Medicine is launching on October 17. Addressing climate change by decarbonizing the U.S. energy system is essential and possible, with far-reaching benefits for public health and economic development. Tune in to the release webinar on October 17 and hear from committee members on key findings and the actions needed to implement an equitable energy transition over the next decade and beyond. #ClimateChange #Health #Equity #Decarbonization #CleanEnergy #FossilFuels #ClimateIsHealth

Seven steps to climate safety 🌍 A recent World Economic Forum (WEF) article shines a ray of positivity on the global energy transition. It highlights seven key reasons for optimism in the light of how renewable energy adoption mitigates climate change and spurs economic growth, job creation, and sustainable development. This article is a must-read on the tangible benefits of our collective move toward a cleaner, greener future. 💡🌱 #ClimateChange #RenewableEnergy #Sustainability Read the full article here: https://lnkd.in/dmJKn-75 www.corporatereporters.com

Conrad Energy is committed to addressing the challenges highlighted in the recent "10 New Insights in Climate Science 2023/2024" report. The report underscores the critical need for swift climate action, emphasizing the risks and opportunities associated with Climate Tipping Points (CTPs). At COP28, the Global Tipping Points report shed light on the potential consequences of passing these thresholds, including the collapse of ice sheets, permafrost thawing, and coral reef degradation. Such changes could have profound implications for communities and businesses worldwide, necessitating proactive measures to mitigate climate-related risks. As a key player in the energy sector, Conrad Energy recognises its responsibility to confront these challenges head-on. We are actively integrating CTP considerations into our operations, investing in renewable energy sources, and exploring innovative solutions like green hydrogen pipelines. Our Head of ESG, Nishikant Gupta, PhD, explains more over on the Views section on our website. Link in comments. #ClimateTippingPoints #climatescience #energy

This week the International Energy Agency (IEA) released their updated roadmap, outlining the need to deliver a tripling of global renewable power capacity to meet global net zero targets by 2050. Yes, the delivery of this action requires governments to set aside geopolitics, but we no longer have the luxury of deciding that we can ignore carbon removal technology and just focus on acceleration of renewable energy and emissions reduction. We need it all. We need to focus on large-scale emissions reduction, clean energy solutions AND carbon removal technologies to achieve net zero. It may be cheaper to stop the emissions entering the atmosphere rather than remove them once they’re there, but the fact is we’ve left it too late and so now we need everything on the table. A mix of solutions is vital here, and carbon removal is crucial (as confirmed in the last Intergovernmental Panel on Climate Change most recent Assessment Report) in addressing these long-standing emissions to stabilise the climate for net zero. Even if CO2 emissions ended today, there is already too much carbon dioxide in the atmosphere and we will need solutions like Direct Air Capture (DAC), with permanent storage of CO2, long after our most carbon intensive activities have ceased. The piece https://lnkd.in/gAEU2hGG from The Conversation discusses this, and sees the impact carbon removal can have to deliver the global climate ambition. DAC technology can and should play an integral role in the pathway to net zero. #IEA #DAC #carbonremoval #decarbonisation #AspiraDAC #CorporateCarbon

📆NEW EEIST EVENT📆 Join top researchers during #ClimateWeekNYC as they unveil new international case studies based on cutting-edge economic methods. Experts will explore the role of #green #hydrogen in decarbonising #India’s industry and power systems, and the distributional impacts of #China’s coal #transition. YOU are invited to reflect on how the synergies between #energy, industrial & regional development, as well as #JustTransition strategies, can help bridge the gap between global goals and local realities.  Register now: https://lnkd.in/edFAx7fH University of Oxford University of Exeter Climate Strategies

The European Round Table for Industry - ERT sends a strong message and confirms the gigantic #financial gap we do have in Europe for the transition and in particular our #climate targets by 2030. Quick reaction to go beyond the figure: There is an electrication story - we want to go beyond 50% overall by 2040 - #grids and #storage is needed ASAP and we will need to find new ways to do it including #industry and new emergent players that will be part of the demand There is a hard to abate sectors story - you need H2, sust fuels and more. There are sectors we need to know what to do, the obvious one is #agriculture. If consider all of that, I am sure that the figure is not THAT important. We are facing for sure a more than a trillion issue but we need a hollistic vision on how each story will interplay or we may get some successes and some failures that will be clear as soon as 2030. https://lnkd.in/eurrq37C

This week's Friday news round-up. 🌍♻️📰   🏭Are we at the peak? New data from Ember reveals that global power sector emissions in the first half of this year were only 0.2 per cent higher than the same period last year. This plateau occurred despite adverse conditions causing an 8.5 per cent reduction in hydroelectric power output. According to Ember if this drop in hydroelectric output had not occurred, power sector emissions would have reduced by 2.9 per cent.   🤝ADNOC and Occidental announced an agreement to launch an engineering study that would see the construction of the first megaton scale direct air capture (DAC) facility outside of the US. The system would extract carbon straight from the atmosphere for permanent storage in saline reservoirs. 🏦 MEPs approved a groundbreaking "European Green Bond" label, a global first. These standards empower investors to confidently back greener technologies and businesses, while assuring bond issuers of attractiveness to eco-conscious investors, thus boosting interest and supporting the EU's climate neutrality goals. The standards align with the EU's sustainability taxonomy framework for environmentally sustainable activities. --- #greenwashing #esg

[ 📰 Must read] Great article by Amy Harder in Cipher News this week that discussed the global shift toward ⚡#cleanenergy, highlighting that the #EnergyTransition is not only underway but also accelerating. - 🌬 Wind produced more electricity than natural gas in the European Union last year, a trend we’re seeing to varying degrees in the United States and in other parts of the world with similarly developed economies. - 🚘 #EV's increased from one in 25 cars in 2020 to one in 5 five in 2023. - ☀ For years, the International Energy Agency (IEA) consistently low-balled its expectations on the global growth of solar power. “If we don’t talk about what has been accomplished, we are disempowering and discouraging people from taking action” Katharine Hayhoe rightly says chief scientist at The Nature Conservancy. "The energy transition will probably be messy; energy costs could go up. Aggregate global CO2 emissions continue to increase, largely due to increased coal-fired power in emerging markets in Asia. What’s more, data from the Climate Action Tracker consortium shows warming projections have plateaued when they need to keep dropping. Technology isn’t the only answer. But it likely lies at the center of any response to climate change. We should remain cautiously optimistic about the potential for exponential growth in new technologies. But as Roy Amara, a Stanford computer scientist, said in the 1960s “we overestimate the impact of technology in the short-term and underestimate the effect in the long run.” #GetTheFutureYouWant #Sustainability #Innovation