After 2 years and 15 negotiation rounds, on June 24, 2022, the Contracting Parties of the Energy Charter Treaty (“ECT”) finaly reached an agreement in principle on a reform of the Treaty. The deal, the detailed text of which remains confidential, contains a package of amendments and changes meant to modernise the Treaty’s investment provisions and bring it in line with the Paris Agreement (the “new ECT”). Crucially, this new ECT will grant existing fossil fuel investments in the European Union and the United Kingdom an additional 10 years of investment protection and even maintain, for now, indefinite protection in other Contracting Parties. It is therefore clearly not aligned with the rapid phase-out of fossil fuels that science shows is required to avoid climate catastrophe, or consistent with the International Energy Agency’s (“IEA”) widely recognised scenario to limit global warming to 1.5°C above pre-industrial levels. Amandine Van den Berghe, Lukas Schaugg and Helionor de Anzizu have the details. This blog was originally published on Jus Mundi.
Author: Energiewende Team
Russian Energy Out, African Energy In?
In its attempt to drastically reduce its dependency on Russian oil and gas, Europe is turning to Africa. But the move is problematic, as producing fossil fuels on the continent presents its own challenges. Noah J. Gordon and Theodora Mattei have the details. This article was originally published in InternationalePolitikQuaterly.
GFANZ must tighten the screw on fossil fuel expansion
Pressure on the fossil fuel industry to stop developing new projects and to start to phase out the production of coal, oil and gas is steadily increasing. On May 18, UN Secretary-General Antonio Guterres stated unequivocally that “Fossil fuels are a dead end — environmentally and economically. […] We must end fossil fuel pollution and accelerate the renewable energy transition, before we incinerate our only home.” Global finance, and especially the leadership of the Glasgow Financial Alliance on Net Zero (GFANZ), needs to follow Guterres’ lead, stop waffling on fossil fuels and send a clear message to the industry that its days are numbered. Paddy McCully gives a broader look. This article was originally published in Reclaim Finance.
Balancing Germany’s offshore wind expansion with environmental protection
Boosting renewable production is essential amid the bid to curtail Europe’s dependency on Russian energy sources. Wind energy in particular is a key plank of Germany’s Energiewende, and there remains untapped potential in onshore and offshore energy production. But how can we boost offshore expansion while preserving delicate marine environments? Leona Schmitt takes a closer look.
EU hydrogen import targets— a neo-colonial resource grab
The REPowerEU plan to end Europe’s dependence on Russian gas would still leave it in hock to fossil-fuel companies. Pascoe Sabido has the story. A longer version originally appeared in Social Europe.
How treaties protecting fossil fuel investors could jeopardize global efforts to save the climate – and cost countries billions
Fossil fuel companies have access to an obscure legal tool that could jeopardize worldwide efforts to protect the climate, and they’re starting to use it. The result could cost countries that press ahead with those efforts billions of dollars. Rachel Thrasher, Blake Alexander Simmons and Dr. Kyla Tienhaara discuss the issue. This article was originally published in The Conversation.
LNG: The liquid path to climate chaos
Europe wonders how quickly and safely it can end its dependency on Russian gas. Liquified Natural Gas (LNG) is being promoted as a solution. The new report “LNG: The liquid path to climate chaos” raises a number of reasons to be sceptical about LNG as a choice for Europe. Eilidh Robb and Frida Kieninger have the details.
Energy in Southeast Asia Series V: Community Power – A Renewable Energy Solution for Conflict-Affected Myanmar
Since the 2021 military coup, daily electricity blackouts across Myanmar have dented people’s livelihoods and wellbeing. Some rural villagers have taken an independent route to tackling energy insecurity: developing community hydropower systems. If designed properly, these decentralized energy solutions can be affordable, reliable, and even environmentally sustainable. Kyungmee Kim takes a closer look at the trend as fifth part of our Southeast Asia Series.
Energy in Southeast Asia Series IV: How COVID-19 Stimulus Finance could boost the Energy Transition in Malaysia
In the fourth part of our South East Asia Series, Julian Theseira is looking at the opportunity for public and civil society organizations to encourage their governments’ to change how energy is generated, distributed, and accessed. How can energy systems become more democratic, giving people and communities access to sufficient, affordable, reliable, and renewable energy?
Energy in Southeast Asia Series III: Community Renewable Energy – A Tool to Accelerate Cambodia’s Energy Transition
Cambodia is ranked to be one of the top thirteen poorest countries in Asia with its Gross National Income Per Capita of US$ 1,490 in 2020. Of the country’s total population of 17 million, 76% are living in rural areas where electricity is often unreliable, unaffordable and from unsustainable sources. Just over two thirds of grid-connected households face frequent unpredictable power shortages. Oudom Ham takes a closer look as third part of our Southeast Asia Series.