Patrick Greenfield and Jonathan Watts, The Guardian »
The JP Morgan report on the economic risks of human-caused global heating said climate policy had to change or else the world faced irreversible consequences.
The study implicitly condemns the US bank’s own investment strategy and highlights growing concerns among major Wall Street institutions about the financial and reputational risks of continued funding of carbon-intensive industries, such as oil and gas.
JP Morgan has provided $75bn (£61bn) in financial services to the companies most aggressively expanding in sectors such as fracking and Arctic oil and gas exploration since the Paris agreement, according to analysis compiled for the Guardian last year.
Cheap solar, wind and hydropower projects are proliferating at such a rate that the International Energy Agency now says global supplies of renewable electricity could expand by 50% in the next five years.
Jillian Ambrose, writing for The Guardian »
Its latest report predicts that by 2024 a new dawn for cheap solar power could see the world’s solar capacity grow by 600GW, almost double the installed total electricity capacity of Japan. Overall, renewable electricity is expected to grow by 1,200GW in the next five years, the equivalent of the total electricity capacity of the US.
“This is a pivotal time for renewable energy,” said the IEA’s executive director, Fatih Birol. “Technologies such as solar photovoltaics (PV) and wind are at the heart of transformations taking place across the global energy system. Their increasing deployment is crucial for efforts to tackle greenhouse gas emissions, reduce air pollution, and expand energy access.”
Renewable energy sources make up 26% of the world’s electricity today, but according to the IEA its share is expected to reach 30% by 2024. The resurgence follows a global slowdown last year, due to falling technology costs and rising environmental concerns.
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15 ground-breaking projects from around the world were announced as winners of the 2019 United Nations Global Climate Action Award.
The winning projects range from an app that’s helped plant over 122 million trees, to a “climate positive” burger that’s taking the fast food industry by storm, to an innovative technology that produces clean electricity from the ocean.
- Impossible Foods: Creating Plant-Based Alternatives to Meat | Singapore, Hong Kong, USA, Macau: Impossible Foods is creating realistic plant-based replacements for meat products. These alternatives are more sustainable and help displace market demand for meat products.
- Alipay Ant Forest: Using Digital Technologies to Scale Up Climate Action | China: Alipay, one of the world’s most popular online payment and lifestyle platforms, has used the power of its digital technology to plant more than 122 million trees by encouraging their users to reduce their emissions, such as by biking to work, going paperless and buying sustainable products.
- Ghent en Garde: Creating Structural Change through Local Food Policy | Belgium: Ghent, a small city in northwest Belgium, was one of the first European cities to launch its own urban food policy. The policy demonstrates the potential to transform the food systems at the local urban level.
- Electricians Without Borders: Providing “Emergency Pockets” of Solar energy in Dominica | Dominica: Following Hurricane Maria in 2017 in Dominica, Electricians Without Borders put forward a solution designed to use renewable energy to secure an “emergency pocket” of power — supplying six health centers on the island with electricity in the aftermath of a natural disaster.
- Québec’s International Climate Cooperation Program I Canada: In 2016, the Canadian province of Québec introduced its International Climate Cooperation Programme providing climate finance and support to developing countries. It is one of the first subnational climate financing schemes, and one that is, uniquely, funded by the province’s own carbon market.
Climate Neutral Now »
- MAX Burgers: Creating the World’s First “Climate Positive” Menu | Sweden, Norway, Denmark and Poland: The Swedish restaurant chain, Max Burgers, launched the world’s first “climate positive” menu in June 2018. Each item on Max Burgers’ menu includes a CO2e label, empowering customers to better understand the climate impact of their meal.
- Natura’s Carbon Neutral Programme | Global: As the largest cosmetics manufacturer in Brazil, Natura is measuring and reducing emissions across its value chain, from the extraction of raw materials right through to their production and distribution.
- Apple’s Emissions Reduction Mission | | Global: Apple is on a mission to make its products without taking from the Earth. It has transitioned to 100% renewable energy for the electricity it uses in its offices, retail stores and data centres in 43 countries across the world, and currently is transitioning its entire supply chain to 100% renewable energy.
- Infosys’ Journey to Carbon Neutrality | India: Infosys, India’s second-largest Information Technology company, is one of the first companies of its type to commit to carbon neutrality. With over 229,000 employees and clients in 46 countries, Infosys has sought to address its significant carbon footprint in all aspects of its global operations.
- Young Women’s Grassroots Action on Climate Change | Sub-Saharan Africa: The Campaign for Female Education launched a breakthrough initiative to train young women from poor, marginalized farming communities across sub-Saharan Africa.
- Mothers Out Front: Mobilizing for a Liveable Climate | USA: Mothers Out Front is a movement of over 24,000 mothers in the United States, working to protect their children and communities from the impacts of climate change.
- Women’s Action Towards Climate Resilience for Urban Poor in South Asia | Bangladesh, India andNepal: Indian NGO, Mahila Housing Sewa Trust, is on a mission to organise and empower women in low-income households to increase their resilience to impacts of climate change.
- Women’s Livelihood Bond Series | Global: Impact Investment Exchange is unlocking USD 150 million in capital through Women’s Livelihood Bond Series, which will empower over two million women in South and Southeast Asia. The Bond helps women access affordable credit, micro savings and insurance, agricultural inputs, as well as clean and affordable energy.
- Eco Wave Power: Generating Clean Energy From the Ocean | Israel and Gibraltar: Eco Wave Power has developed an innovative technology that produces clean electricity from ocean and sea waves. The company is pioneering in its sector by operating the only grid-connected wave energy array floaters in the world, which is operational under a Power Purchase Agreement.
- Beyond the Grid Fund for Zambia | Zambia: Beyond the Grid Fund for Zambia works with the Zambian government and other stakeholders to build a more off-grid business-friendly regulatory environment.
AnneMarie McCarthy, writing for Lonely Planet:
The Svart hotel uses 85% less energy compared to a standard, modern hotel but with the help of its own solar power, will actually produce more energy than it uses. This point is key to building the hotel in the planned site; at the foot of the Svartisen glacier in northern Norway.
Svart extends in a circle from the shoreline, giving guests a panoramic view of the clear waters of Holandsfjorden fjord and the surrounding mountains. In the summer, guests can stroll around the hotel on the boardwalk and in warmer weather they can even kayak underneath the structure.