As the South African government prepares to inject a stimulus package equivalent to 10 per cent of its GDP into the economy to aid recovery from the coronavirus recession, energy analysts say the time is right to fast-track renewable energy. More than state-funded investment, though, this will need political will and policy that builds private-sector confidence. Leonie Joubert reports.
Just before summer break, Germany’s parliament finally committed to phasing out coal. But the conservative government’s plan doesn’t really call for meaningful shutdowns until 2023 as coal capacity slowly rolls offline through 2038. Instead, the law greenlights a large new coal plant while awarding billions of Euros in direct payments to the aggrieved coal operators and affected regional governments, directly ignoring key recommendations of the once celebrated Coal Commission. Though Angela Merkel’s ruling coalition and industry heaped praise upon it, environmentalists and opposition parties condemned the exit plan as a golden parachute for an already dying industry that won’t ensure the nation meets its Paris Climate Agreement commitments. Michael Buchsbaum has the details.