Whichever party forms the next government will struggle to deliver a credible plan for meeting the UK’s 2050 net zero target unless it offers new policy support for onshore wind power. That is the clear warning from trade body RenewableUK, as it this week warned the sector is on course for a major shortfall in renewables capacity over the next decade. The trade body said far more onshore wind power is needed if the UK is to stand a chance of reaching net zero emissions, yet current policy barriers mean the sector is on course for 40 per cent capacity shortfall by 2030. At present the UK boasts just over 13.5GW of onshore wind power capacity, but growth in turbine installations has dropped off since 2015 when the government barred onshore wind developers from bidding for clean power contracts through its Contracts of Difference auctions.
Business Green 7th Nov 2019 read more »
Investment in greenhouse gas emission reduction fell last year despite the growing urgency of the climate crisis, and the benefits of outlays were cancelled out by investments globally in fossil fuels and other dirty industries, finds a report by the Climate Policy Initiative. Global climate finance hit a record high of $612bn (£476bn) in 2017, according to CPI advisers, but fell back 11% after that bumper year to $546bn in 2018. Less public money for low-carbon transport and lower private-sector investment in renewable energy were the causes of the drop. However, the average investment for 2017 and 2018 was 25% higher than for the period 2015 and 2016. “Given the urgency of the climate challenge it is a positive sign that we have passed the half trillion dollar mark of investment towards climate change activities,” said Barbara Buchner, executive director of climate finance at CPI, which published its assessment on Thursday. The study, entitled Global Landscape of Climate Finance 2019, found that investment at least more than three times as high as current levels would be needed annually until 2050 to clean up the world’s energy generation systems.
Guardian 7th Nov 2019 read more »