Net Zero North West’s Post

* Japan’s issue a $11 Billion Climate Transition Bonds * "The GX Plan aims to mobilize 1 trillion$ in public and private investments over the next decade, targeting cutting-edge, sustainable technologies to mitigate domestic emissions. This initiative aligns with Japan’s commitment to achieving its 46% greenhouse gas (GHG) reduction targets by 2030 and becoming carbon neutral by 2050. Achieving Green Transformation (GX) necessitates addressing high-emission sectors and the main action plan and efforts are crucial for energy transformation in the following sectors: Japan’s GX promotion strategy establishes two key initiatives to meet international commitments, ensure a stable energy supply, and realize economic growth.🌍 1. Stable Energy Supply and Decarbonization: ➡️ Promote energy conservation measures. ➡️Transition power sources to improve energy self-sufficiency, focusing on renewable energy and nuclear power. 2. Growth-Oriented Carbon Pricing Concept: ➡️Implement and execute bold upfront investment support using instruments such as GX Economy Transition Bonds. ➡️Provide incentives for GX investment through carbon pricing. ➡️Utilize new financial mechanisms to support the transition. These initiatives ensure a stable energy supply while advancing toward decarbonization and economic growth." International Energy Agency (IEA) U.S. Department of Energy (DOE) #sustainability #esg #energytransition #scope2

🌍 European Union: a new climate target for 2040   On February 6, 2024, the European Commission took important steps towards achieving carbon neutrality by 2050 and outlined its recommendations for a new climate target set in 2040.   💪 The project is ambitious: a 90% greenhouse gas emissions reduction by 2040, compared to 1990 levels.   Today, Member States settled a 55% reduction target by 2030. The year 2021 has already seen a 31% drop. The 2040 target is therefore a crucial milestone.   🔥 To achieve full decarbonization, the Commission projects a reduction of around 80% in fossil fuels used for energy purposes from 2021 to 2040, with an exit from coal.   🏭  To support the decarbonization of industry and energy, a “carbon management strategy” has been announced and is based on the annual capture of around 280 million tonnes of CO2 by 2040 from industry or burned biomass.   This development will be possible with the growth of renewable energies, energy efficiency, geothermal and hydro energies and nuclear power.   ☢️ Does this return to nuclear power announce a paradigm shift for the EU? It will be up to the next Commission, in autumn 2024 after the June elections, to submit a formal legislative proposal to the Member States and Parliament to achieve this target. 🌱🌏 Collectively, we have the power to move toward a more sustainable future that respects and preserves our planet.   Are you ready to join the movement? 👉 www.seam.earth #ESG #europeanlegislation #greendeal #energy #industry #energytransition #europeancommission #objective2040 #sustainability #environment #neutralcarbone

“Sustainability Goal No. 7 states that everyone shall have access to reliable, sustainable and modern energy at an affordable price. For political decisions, other factors than climate must be included in the overall picture so that the health, environmental and economic consequences are minimized. It is possible to achieve the goal with a balanced energy mix, but not with renewables alone.” Lift the nuclear bans Australia.

BloombergNEF's New Energy Outlook 2024 emphasizes the critical role of clean technologies in limiting global warming to below two degrees Celsius. The report presents two climate scenarios: the Net Zero Scenario (NZS) and the Economic Transition Scenario (ETS). The NZS, aiming for a 67% chance of limiting warming to 1.75 degrees Celsius, predicts a peak and rapid decline in fossil fuel demand starting in 2025, with a significant expansion of renewable energy, electric vehicles, carbon capture, and nuclear power by 2030. The ETS, driven by economic competitiveness and consumer choice, projects renewable energy, particularly solar and wind, to constitute 51% of global power generation by 2030 and 70% by 2050, supported by advanced energy storage and flexible power systems. David Hostert, lead author, stresses the urgent need for immediate emission reductions to keep the net zero by mid-century goal achievable. Cleaning up the power sector is vital, potentially avoiding half of the emissions by 2050 compared to a no-transition scenario. https://lnkd.in/etgN3VAk #Bloomberg #EnergyTransition #OdinGlobal

The U.S. Department of Energy (DOE) showcased significant clean energy advancements at COP29, including their endorsement of the COP29 Hydrogen Pledge, which focuses on scaling clean hydrogen production and decarbonizing hydrogen supply chains. This initiative emphasizes minimizing hydrogen losses and advancing its use in hard-to-decarbonize sectors. DOE also highlighted the $7 billion they have allocated for Regional Clean Hydrogen Hubs to accelerate hydrogen adoption and infrastructure development. These efforts underscore the growing role of hydrogen in global decarbonization strategies and clean energy transitions. Read more here: https://lnkd.in/e9ZjhwCf #ushydrogenalliance #hydrogen #cleanhydrogen #hydrogennow #hydrogeneconomy #hydrogenhubs #fuelcell #zeroemission #energy #cleanenergy #decarbonization #sustainability

𝗧𝗼𝗱𝗮𝘆'𝘀 𝘁𝗼𝗽 𝗻𝗲𝘄𝘀 𝗶𝗻 𝗲𝗻𝗲𝗿𝗴𝘆 𝗮𝗻𝗱 𝗰𝗹𝗶𝗺𝗮𝘁𝗲🗞️🌱 Catch up on today’s most significant updates in energy and climate. Here are the top trending news stories for today: 🛢️ 𝗧𝗲𝗰𝗵 𝗶𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝘄𝗮𝗻𝘁𝘀 𝘁𝗼 𝗹𝗼𝗰𝗸 𝘂𝗽 𝗻𝘂𝗰𝗹𝗲𝗮𝗿 𝗽𝗼𝘄𝗲𝗿 𝗳𝗼𝗿 𝗔𝗜 The tech industry is increasingly looking to secure nuclear power to support the energy-intensive demands of artificial intelligence. This move underscores the growing intersection between advanced technology and sustainable energy solutions. Read on: https://lnkd.in/eeYxfKBe 🌍 𝗙𝗿𝗮𝗻𝗰𝗲, 𝗡𝗼𝗿𝘄𝗮𝘆, 𝗨𝗞: 𝘄𝗵𝗶𝗰𝗵 𝗰𝗼𝘂𝗻𝘁𝗿𝗶𝗲𝘀 𝗮𝗿𝗲 𝗹𝗲𝗮𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗳𝗹𝗼𝗮𝘁𝗶𝗻𝗴 𝗼𝗳𝗳𝘀𝗵𝗼𝗿𝗲 𝘄𝗶𝗻𝗱 𝗿𝗮𝗰𝗲? France, Norway, and the UK are emerging as leaders in the floating offshore wind sector. This renewable energy technology is crucial for harnessing wind power in deeper waters, where traditional fixed turbines are not feasible. Read on: https://lnkd.in/eh8z_df2 🛢️ 𝗡𝗼𝗿𝘁𝗵 𝗦𝗲𝗮 𝘁𝗮𝘅 𝗿𝗲𝗴𝗶𝗺𝗲 𝗮𝘀 𝗰𝗼𝗺𝗽𝗹𝗲𝘅 𝗮𝘀 𝗮 ‘𝘄𝗮𝗿 𝘇𝗼𝗻𝗲,’ 𝘄𝗮𝗿𝗻𝘀 𝗼𝗶𝗹 𝗴𝗿𝗼𝘂𝗽 The North Sea tax regime's complexity is likened to a "war zone" by oil industry representatives. This intricate system poses significant challenges for oil companies operating in the region. Read on: https://lnkd.in/eNhw_b8V 🌍 𝗘𝗨 𝗰𝗮𝗿𝗯𝗼𝗻 𝗺𝗮𝗿𝗸𝗲𝘁 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 𝘁𝗼 𝗿𝗮𝗶𝘀𝗲 𝗱𝗶𝗲𝘀𝗲𝗹 𝗽𝗿𝗶𝗰𝗲𝘀 The expansion of the EU carbon market is expected to drive up diesel prices. This development highlights the broader economic impacts of stringent carbon pricing policies aimed at reducing emissions. Read on: https://lnkd.in/eztUhj7C ⚖️ 𝗨𝗦 𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗼𝘃𝗲𝗿𝗿𝘂𝗹𝗲𝘀 𝗖𝗵𝗲𝘃𝗿𝗼𝗻 𝗱𝗼𝗰𝘁𝗿𝗶𝗻𝗲, 𝗶𝗺𝗽𝗲𝗿𝗶𝗹𝗶𝗻𝗴 𝗮𝗻 𝗮𝗿𝗿𝗮𝘆 𝗼𝗳 𝗙𝗲𝗱𝗲𝗿𝗮𝗹 𝗿𝘂𝗹𝗲𝘀 The US Supreme Court's decision to overrule the Chevron doctrine threatens to undermine a wide range of federal regulations. This landmark ruling could have significant implications for environmental and other regulatory policies. Read on: https://lnkd.in/eNDe23bZ 🏝️ 𝗧𝗵𝗲𝘀𝗲 𝗨𝗦 𝗰𝗶𝘁𝗶𝗲𝘀 𝗰𝗹𝗮𝗶𝗺 𝘁𝗼 𝗯𝗲 '𝗰𝗹𝗶𝗺𝗮𝘁𝗲 𝗵𝗮𝘃𝗲𝗻𝘀' Several US cities are branding themselves as "climate havens," positioning themselves as safer and more resilient places to live amidst the increasing impacts of climate change. Read on: https://lnkd.in/eD-3dgGs Stay informed with our newsletter: illuminem.com/newsletter #TrendingNews #Sustainability #Energy #ClimateChange #RenewableEnergy #CarbonPricing #NuclearPower #OffshoreWind #ClimateHavens

Two-thirds of Americans want the U.S. to do more to address climate change. While clean energy projects are gaining momentum, a stronger grid is key to making renewable energy mainstream. Here’s what caught our eye this week: Majority of Americans want stronger climate commitments 💪 This figure comes from the United Nations' (UN) latest People’s Climate Vote—the largest climate opinion poll ever—which interviewed over 73,000 people in 77 countries. Globally, 80% of people called for their country to strengthen commitments to address climate change. In the U.S., a strong majority (66%) called for stronger climate commitments, and 54% advocated for a “quick” transition from fossil fuels to renewable energy. On the other hand, approximately 28% of Americans surveyed said the U.S. should “weaken” its climate commitments. That was a higher figure than any other country, indicating the issue is more polarizing in the U.S. than in other parts of the world. (https://shorturl.at/GF4ew) Congress passes ADVANCE Act to support nuclear energy ☢️ Despite the increasing polarization around energy policy, both parties had a hand in passing the ADVANCE Act. The bill will streamline the permitting process for advanced reactors and open the doors for international investment, while also creating opportunities to quickly transition former fossil fuel facilities into nuclear facilities. Nuclear reactors, which produce zero-emission, large-scale, reliable baseload power, currently account for 20% of American energy production. (https://shorturl.at/KBvnX) Grid woes slowing down clean energy distribution from coast to coast ⚡ Still, the U.S.’s rickety and overburdened grid (which we’ve written about before: https://shorturl.at/R7fCO) continues to lessen the impact of additional clean energy projects. More than 11,000 solar, wind, and battery storage projects—capable of powering millions of homes across the U.S.—were still awaiting connection at the beginning of 2024, according to Berkeley Lab. Looking at the Midwest, Inside Climate News found that clean energy developers are often tasked with increasing grid capacity for their own projects, which can add hundreds of millions of dollars to the price tag. Even projects that receive approval from local and state governments must endure interconnection delays due to the Midwest grid’s long backlog of projects. (https://shorturl.at/pRNxC) #ClimateChange #NuclearEnergy #AdvanceAct #Interconnection #CleanEnergy #RenewableEnergy #Solar

Electricity demand is rising and the climate goals are being impacted. More importantly, the demand for electricity comes with additional costs and the increasing fragility of the grid. There are difficulties in getting key parts like new transformers and difficulties in adapting the grid for more renewables (which are intermittent sources of electricity) from fossil fuels and nuclear (which are 24/7). We are going to have to rethink how we use electricity as individuals and as communities and institutions.

Horizon Engage would like to introduce Stephen Livens, who will lead our decarbonization coverage across 7 Asia-Pacific countries, including 🇦🇺. How does 🇦🇺 currently stack up against BNEF's nine key tech solutions to harness if we want to get the world back on track to meeting our climate goals? 👍 Wind/solar, heat pumps 👉 Battery storage, power grid, EVs 👎 Nuclear, clean H2, sustainable aviation fuels, CCS Read Stephen's piece for the Horizon Engage blog below: #Decarbonization #NetZero #EnergyTransition

👀 𝐔𝐧𝐯𝐞𝐢𝐥𝐢𝐧𝐠 𝐎𝐮𝐫 𝐏𝐚𝐭𝐡 𝐭𝐨 𝐂𝐚𝐫𝐛𝐨𝐧 𝐍𝐞𝐮𝐭𝐫𝐚𝐥𝐢𝐭𝐲 𝐛𝐲 𝟐𝟎𝟓𝟎!   𝐖𝐞'𝐫𝐞 𝐭𝐡𝐫𝐢𝐥𝐥𝐞𝐝 𝐭𝐨 𝐚𝐧𝐧𝐨𝐮𝐧𝐜𝐞 EDF 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨 𝐭𝐨 𝐚𝐜𝐡𝐢𝐞𝐯𝐞 𝐜𝐚𝐫𝐛𝐨𝐧 𝐧𝐞𝐮𝐭𝐫𝐚𝐥𝐢𝐭𝐲 𝐛𝐲 𝟐𝟎𝟓𝟎.   🔍 Key Insights: ➡ 𝐑𝐞𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐢𝐧 𝐅𝐢𝐧𝐚𝐥 𝐄𝐧𝐞𝐫𝐠𝐲 𝐃𝐞𝐦𝐚𝐧𝐝: Our strategy hinges on two pivotal principles - minimizing fossil fuel usage and slashing final energy demand. This entails a robust push towards electrification of various sectors coupled with energy efficiency measures.   ➡ 𝐂𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧: Failing to prioritize electrification could set us back by a decade in our journey towards decarbonization. Thus, promoting efficient electrification alongside maintaining robust CO2 prices is imperative to stimulate investments in decarbonization initiatives.   ➡ 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐞𝐝 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐌𝐢𝐱: Our vision for 2050 entails a balanced blend of intermittent renewable energies and controllable sources like nuclear, hydropower, and decarbonized thermal plants. Flexibility and storage solutions will be pivotal, with a range of solutions on the generation side, such as nuclear and hydro including pumped storage, as well as on the demand side such as EVs smart charging or demand side response.   ➡ 𝐍𝐞𝐜𝐞𝐬𝐬𝐚𝐫𝐲 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭:: Transitioning to this new energy landscape demands substantial investment in electricity transmission and distribution networks. Prioritizing infrastructural development, especially efficient electrical networks, is paramount for success.   ➡ 𝐂𝐥𝐞𝐚𝐫 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐅𝐫𝐚𝐦𝐞𝐰𝐨𝐫𝐤: Beyond setting targets, a robust regulatory framework is crucial. We advocate for an ambitious EU electrification strategy coupled with long-term CO2 price visibility to incentivize investor confidence.   ➡ 𝐏𝐫𝐨𝐦𝐨𝐭𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐭𝐲: We believe in fostering innovation through a diverse technological approach. Ensuring fair access to EU funds for all zero- and low-carbon technologies will accelerate the development of disruptive technologies.   ➡ 𝐒𝐮𝐩𝐩𝐨𝐫𝐭𝐢𝐧𝐠 𝐄𝐮𝐫𝐨𝐩𝐞𝐚𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: It is essential to preserve the competitiveness of European industries. We need to support industrial value chains, maintaining the strength of our economy while encouraging sustainable practices.