Fossil fuel electricity generation has peaked worldwide as emerging market countries seize the opportunities of low-cost renewables. Emerging markets are key to the global energy transition, with 88% of the growth in electricity demand between 2019 and 2040 expected to come from emerging market countries. If they do not leapfrog to renewables, the report warns there will be no global energy transition. Renewables are already the cheapest source of new electricity in 90% of the world which means emerging markets have no need to build up huge electricity infrastructure based on fossil fuels.
Carbon Tracker 14th July 2021 read more »
Climate change: World leaders at Glasgow’s Cop26 summit must not listen to the poison dripped into their ears by Big Oil – Dr Richard Dixon. It’s vitally important to keep up pressure on the countries at the Cop and the process itself. That means exposing the bullying tactics that the US tried to use in 2000 to try to stop countries voting for stronger action, the delaying tactics from a whole range of countries, arguing over a single word or phrase for hours to stop agreement, the fossil fuel lobbyists who are allowed in to drip their poison in delegates’ ears, the failed promises on climate finance, and the whole range of technical fixes and market mechanisms that would let rich countries off the hook while placing burdens on people in poorer countries.
Scotsman 29th July 2021 read more »
Origin Energy has slashed the value of its assets, including Australia’s biggest coal-fired power plant, by more than $1.5bn as cheap power from renewables floods the national grid. Company shares tumbled as much as 10% on Friday morning after Origin announced the writedown and lower expected earnings next year to the Australian Securities Exchange, before recovering slightly to be down about 7.85% about 12.45pm.
Guardian 30th July 2021 read more »