Chile is facing important debates for its future. The South American country is immersed in a process to establish a new constitution to manage a multifactorial crisis situation to which the social-environmental crisis contributes heavily. In parallel, the country is committed to becoming carbon-neutral by 2050. Hence, the institutional framework, and the path to reach it, are key. Maximiliano Proaño reports
For years, the EU Emissions Trading System (EU ETS), the EU’s flagship policy to tackle global warming, was considered a flop. Brussels had distributed too many free emission allowances, which kept the price per ton of emissions low. But since 2018 permit prices have soared upward: and the result is forcing coal out of the energy market. Paul Hockenos reports.
To face social and environmental problems generated by fossil energies, market-based solutions have emerged to tackle these challenges on a broader scale. These proposals are often also framed as a “green” approach to economic growth. They include e.g. regulatory disincentives for emitting CO2 through a form of carbon pricing or more specifically, emissions trading systems (ETS) and carbon taxes. Although their rationale sounds adequate, their design and implementation are flawed from different points of views and subsequently result in a minimal decrease of CO2 emissions. The following analysis will focus on the main causes of this (political) deficiency with a focus on Latin America. Maximiliano Proaño has the details.
On September 22 China’s President Xi has delivered the country’s new pledge to reach peak carbon emissions earlier than 2030 and carbon neutrality by 2060 to the UN General Assembly. If pursued, this pledge marks a fundamental shift in China’s global climate ambitions and will have profound long-term impact on the global economy and energy markets. How sustainable will this impact be for the globe? Well, it all depends. Maria Pastukhova has the details.
In September 2019, during the United Nations Climate Action Summit in New York, the Greek Prime Minister Kyriakos Mitsotakis pledged to phase out all coal-powered electricity production by 2028, making Greece a pioneer in the Balkans. This commitment is enshrined in the National Energy and Climate Plan (NECP) submitted by the Greek government to the European Commission end of 2019. The new government, in power since July 2019, revised the NECP and introduced more ambitious climate and energy targets (see blogpost on NECP). Daniel Argyropoulos has the details.
Away from coal! The need to get out of coal is now clear for everyone. But do we need instead more piped gas and LNG – liquified natural gas? Andy Gheorghiu reports
The so-called Green Deals on the table in Europe and the US present an enticing prospect to rejuvenate the greatly diminished transatlantic relationship — and help hit crucial climate targets before it is too late. The European Green Deal, proposed last year with much fanfare by EU commission president Ursula von der Leyen, overlaps significantly with the Green New Deal, an ecological spending program devised by congressional Democrats and endorsed by the party’s presidential candidate, Joe Biden. Paul Hockenos reports
When the EU embarked upon its energy transition odyssey, regulators deemed the burning of biomass as climate neutral—which when done on a relatively small-scale and under controlled conditions, it can be. But taking advantage of the EU’s biomass baked-in carbon loophole, power generators soon began converting older, coal-fired plants to burning it instead. There’s only one catch: the climate science doesn’t add up. Biomass’ special carbon accounting loophole is creating a superficial impression of climate progress as forests disappear and emissions rise. Despite sunk capital and billions in government subsidies, the EU has vowed reform, but will regulators really change course? L. Michael Buchsbaum has the details.
Last year, Brazil made international headlines for the devastating forest fires in the Amazon and their impact on the world’s vital oxygen lungs. Many governments – especially from Europe – were quick to condemn the deforestation of the Amazon that had been increasing rapidly since far-right President Bolsonaro took office in January 2019. Rebecca Bertram takes a closer look.
Presumptive Democratic party presidential candidate Joe Biden has released an ambitious $2 trillion energy and climate plan that will, if implemented, create not only millions of well-paying jobs, but place the nation on a mid-century carbon neutrality pathway. Calling for a massive investment in solar and wind capacity, Biden aims for a coal exit and elimination of carbon pollution by 2035. More than just an energy and climate platform, Biden’s plan reckons with ensuring a just transition for affected coal and gas producing regions, while directing support towards impacted poor and minority regions so often in the smokestack shadows. Far from perfect, Biden’s plan would at least begin to stop the world’s top polluter from taking us all over the climate cliff.