Sustainability: Global investors say lack of climate action risks financial crash

Sustainability: Global investors say lack of climate action risks financial crash

Global investors managing a combined $32 trillion in assets warned negotiators at the UN climate summit that the lack of action on climate change could provoke a financial crisis much deeper than the 2008 meltdown. For instance, investment firm Schroders said that the global economy could see losses of $23 trillion in the long run without rapid action. On the contrary, a rapid clean energy transition could result in enormous benefits. “The low-carbon economy presents…

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Renewables: African Development Bank support for clean energy access falls short of goals

Renewables: African Development Bank support for clean energy access falls short of goals

WASHINGTON, D.C. – As the African Development Bank (AfDB) kicks off its first-ever Africa Investment Forum in South Africa, a new analysis released today finds that the AfDB’s own support for the most cost-effective energy access solutions lags far behind what is needed — in contrast to its world-leading pledge to scale up energy access on the continent. Dozens of civil society organizations signed a letter to AfDB decision-makers that drives home the report’s key messages. The report, assessing nearly…

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Renewables: Kenya Targets 2020 for 100% RE

Renewables: Kenya Targets 2020 for 100% RE

Kenya aims to meet 100% of its energy needs through renewable sources of energy by 2020, according to the country’s president, Uhuru Kenyatta. Currently renewable energy accounts for 70% of the East African country’s energy mix. To reach this level, massive investment in the sector was required, leading, among other things, to a tripling of the national electrification rate to 60%. “Our goal is to achieve 100% satisfaction with our renewable energy needs by 2020….

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Africa Renewables: Algeria to Manufacture RE Parts in partnership with General Electric

Africa Renewables: Algeria to Manufacture RE Parts in partnership with General Electric

The first turbines manufactured in Algeria will be available by July 2019, according to the CEO of the country’s state-run utility Sonelgaz. Mohamed Arkab said the goal is being achieved through a partnership with GE. The country has indeed signed an agreement to create a JV co-founded by both entities under the 51/49 rule. Called GEAT, the JV company will manufacture the equipment of a power plant, such as alternators and control systems. In addition,…

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Sustainability: Eni and UNDP to promote sustainable energy and SDGs in Africa

Sustainability: Eni and UNDP to promote sustainable energy and SDGs in Africa

Energy major Eni SpA and the United Nations Development Programme (UNDP) are joining forces to improve access to sustainable energy and help achieve the Sustainable Development Goals (SDGs) in Africa. The partnership is the first of its kind between UNDP and a global energy company. The Memorandum of Understanding (MoU) was signed by Eni Chief Executive Officer Claudio Descalzi and UNDP Administrator Achim Steiner during an official ceremony hosted by the Permanent Mission of Italy…

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Renewables: South Africa RE Generation to More Than Triple by 2030

Renewables: South Africa RE Generation to More Than Triple by 2030

South Africa’s share of non-hydro renewables for power generation will more than triple by 2030, according to a new report put out by GlobalData. The latest report says that the country’s non-hydro renewables power generation will increase from 8.1% in 2017 to 30.3% in 2030. This is attributed to the government’s decision to restructure its energy output. GlobalData’s latest report, ‘South Africa Power Market Outlook to 2030, Update 2018 – Market Trends, Regulations, and Competitive…

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Science Analysis: Is Renewable Energy As Clean As We Think?

Science Analysis: Is Renewable Energy As Clean As We Think?

Fossil fuel energy has understandably become the clay pigeon of environmentalists in the past decades – with oil & gas companies having lied too often about the impact of their activities on climate change or environmental pollution for the public to ignore.

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