Green bonds have played an important role in developing the market for sustainable finance instruments. Its rapid growth is a testament to investors’ demand for such instruments, which is likely to grow further. Complementary ratings to current green certifications could help to convert market trends into much needed reductions in carbon emissions.
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Australian and Japanese companies are exploring the potential of capturing carbon dioxide from industries in Asia and storing it off the coast of Australia, on the ocean floor. Australian company, Transborders Energy Pty is leading the ‘deepC store project’ along with its partners which include Tokyo Gas Co. and Kyushu Electric Power Co. The team is exploring the possibility of shipping emissions across the Asia-Pacific region using a floating hub to inject the material under the seabed.
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Corporate renewable electricity sourcing in Europe has shown continuous growth despite the COVID-19 pandemic, demonstrating the resilience and potential of Europe’s renewable energy sector. In November 2020, the cumulative contracted volume of corporate renewable power purchase agreements (PPAs) in Europe reached the 11 GW mark, up from just 2.2 GW by the end of 2016 and with a record 3 GW contracted in 2020 alone.
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San Miguel Corporation (SMC) has targeted the construction of a 200 MW solar farm in Bulacan which will power its New Manila International Airport project. The proposed solar farm will be set up on the company’s 2,500-hectare lot in the municipality.
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The Estée Lauder Companies (ELC) has reached its RE100 target of achieving net zero emissions and sourcing 100% renewable electricity globally for its direct operations. To achieve these targets the company invested in renewable energy agreements in order to reduce its operational carbon footprint.
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Indian public sector undertaking, NPTC Limited, has signed a loan agreement with the Japan Bank for International Co-operation (JBIC), Japanese Government policy-based financial institution. This foreign currency loan agreement is for USD 482 million, out of which JBIC provided 60 per cent or approximately USD 289 million of the total loan amount.
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Chinese President has declared that China will strive to become carbon neutral by 2060. The decision has high consequences for the European Union. However, for the time being, a carbon-neutral China remains a vague political aspiration.
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Eleven leading companies from six countries have founded the Renewable Carbon Initiative (RCI) to herald the end of the fossil age for all organic chemicals and materials by 2050. The initiative has been launched under the leadership of nova-Institute (Germany).
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The growth in primary energy over the outlook period is dominated by renewable energy, as the world shifts towards lower-carbon sources of energy. The share of renewable energy (including wind, solar, geothermal and bioenergy but excluding hydro power) increases more than 10-fold in both Rapid and Net Zero.
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Amazon has announced a new 115 MW wind farm project in Ardderroo, Galway in Ireland. The wind power project will support the Amazon Web Services (AWS) data centers in the country. This new project will begin operating in 2022 and add to the company’s other upcoming projects in the country.
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Sterling and Wilson Solar Solutions (SWSS), the US subsidiary of Sterling and Wilson Solar Limited...
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