Tom Rivett-Carnac’s Post

Developing economies are leading the way in clean energy growth. RMI’s new analysis shows: • 87% of power investment in emerging economies is now in clean energy • Solar and wind are on track to match the renewable capacity of developed nations by 2030 • But to triple renewables by 2030, six times the current funding is needed As we approach #COP29, the Mission 2025 coalition calls on wealthier nations to step up support and make this growth sustainable and scalable. Read the report for more: https://lnkd.in/guk7x2EC #Mission2025 #COP29 #CleanEnergy #RenewableEnergy #ClimateAction #EnergyTransition

The new @RMI report shows just how fast the Global South is moving on clean energy, with some countries even outpacing the Global North in rolling out renewables. Solar and wind are growing at an impressive 23% each year in these regions, proving that a clean energy future is absolutely possible. But while it’s exciting to see this progress, the report also makes it clear: we need much more ambitious climate finance to make sure the energy transition happens at the pace we need. We have to direct more global capital to low-income countries so they can fully unlock their renewable potential and hit the target of tripling renewables by 2030. Even though my main focus is adaptation finance, this report is a reminder that renewable energy finance is a key part of hitting our climate goals. At COP29, I’ll be pushing for stronger commitments to support both adaptation and clean energy transitions across the Global South. If we don’t scale up the funding, we risk leaving people behind in this critical transition. Read the full RMI report here: https://lnkd.in/dPbB5svr #Mission2025 #COP29

🌍 Embracing the Future of Energy Transition 🌍 As a member of Global Shapers Community excited to share insights from the World Economic Forum's "Fostering Effective Energy Transition 2024" report. This comprehensive study underscores the critical balance of equity, security, and sustainability in our global energy systems. Here are some key takeaways: 🔋 Global Progress: The Energy Transition Index (ETI) scores have reached record highs, with 107 out of 120 countries making progress over the past decade. However, economic volatility, geopolitical tensions, and technological shifts have slowed the momentum. 🌱 Sustainability Advances: Significant strides in renewable energy adoption, particularly in wind and solar, have been made. Yet, the pace is insufficient to meet net-zero targets by 2050. COP28’s commitment to double energy efficiency and triple renewable energy capacity by 2030 is a vital step forward. 💡 Equity and Accessibility: Despite progress, energy equity remains a challenge, especially in developing nations. Investments in clean energy infrastructure must increase to ensure affordable and accessible energy for all. 🌐 Regional Insights: Countries like Sweden, Denmark, Finland, and Switzerland lead the ETI rankings. Emerging economies like China and Brazil are making notable progress, with significant investments in renewable energy. Sub-Saharan Africa has shown remarkable growth in energy transition readiness. 📊 Key Actions Ahead: The report highlights the need for tailored pathways, increased international support, and innovative financing mechanisms to bridge the transition gap between advanced and developing economies. 🤝 Collaborative Efforts: Decision-makers must act decisively and collaboratively to accelerate the transition towards a secure, sustainable, and equitable energy future. Let's continue to drive innovation, investment, and policy reforms to achieve a resilient and inclusive energy transition. The future of our planet depends on it. 🌍💡🌱 #EnergyTransition #Sustainability #RenewableEnergy #WEF2024 #ClimateAction #CleanEnergy

Attached our latest RMI report about cleantech in the Global South. The cleantech revolution is already happening, fast, and provides new opportunities that fossil fuels cannot. - The Global South is deploying cleantech faster than the Global North. - 73% are in the sweet spot of change - middle income, fossil importer, low energy demand, huge renewables. - 87% of generation capex is already on clean energy. - They are racing up the S-curve of renewable deployment; solar and wind additions will be up this year by nearly 60% to over 70 GW. - Capex parity and Chinese supply open up the door to change. - So the Global South will not prop up the dying fossil fuel system, but will ride the cleantech revolution to growth and prosperity. By the excellent Vikram Singh, Kingsmill Bond, Sam Butler-Sloss, Daan Walter, Ije Ikoku Okeke,  David Gumbs, Laetitia De Marez, Wini Rizkiningayu, Amory Lovins, Akshima Ghate, Sumant Sinha, Tarun Garg, Jagabanta Ningthoujam, Prabal Muttoo, Ankur Malyan, Dimpy Suneja, Arjun Gupta, Arunabha Ghosh, Meriah Jamieson, Justin Locke, Will Atkinson, and Elizabeth Press https://lnkd.in/eAx35Wng

Join us at the #COP29 Global Renewables Hub where we’ll dive into what action and finance is needed to deliver the upcoming Grids Pledge

"#energytransition is not just a buzzword but leads to real #impacts on the ground." This was one of my biggest takeaways from today's panel "Market transformations we need post-COP28: Is the shift away from fossil fuels really possible?" at the #AccelerateToNetZero South East Asia event organised by The Carbon Trust. I had the pleasure of moderating this discussion and learning from our brilliant speakers: Ayato Kurokawa (Asian Development Bank (ADB)), Tulika Raj (SunGreenH2), Dennis Tan (Surbana Jurong Group), John Colombo (Clime Capital) and David Broadstock (Sustainable and Green Finance Institute (SGFIN)). Other key insights include: 💡At the centre of change is the need to address the emissions from coal power generation in South East Asia. The Energy Transition Mechanism provides a model to incentivise the early retirement and/ or repurposing of coal-fired power plants. By retiring the coal plants early, we make space for renewables to grow. 🔍 Clean hydrogen plays an important role in accelerating the transition in Asia and can help decarbonise activities in the hard-to-abate sectors. Incentives in Asia are available to promote hydrogen in existing use case sectors, and this must be shifted to green. 🏢 Important for companies to also focus on addressing its Scope 3 indirect emissions which typically account for so much of its carbon footprint but may not be frequently reported. More needs to be done to help companies take the small steps. 💲Investing in energy efficiency, offshore wind, and low carbon technologies is critical. While governments are helping to de-risk investments into low carbon options, there remains other stakeholders driving inaction. It is important to create trust in low carbon solutions and generate shared investments in these areas. Thank you to our speakers for your valuable insights and to all the participants who joined us today. Keen to find out more about #netzero? Drop us a message and we will see how we can help😊 #sustainablefinance #climateaction #decarbonisation

I am delighted to be participating in the Energy Sustainability Conference organized by the Energy Institute. As Africa's energy needs soars, we must not only secure reliable, affordable energy but also ensure that it aligns with our environmental commitments. To succeed, we need a synergy between policy, investment, and innovation. As Kofi Annan once wisely said, "Energy is the golden thread that connects economic growth, increased social equity, and an environment that allows the world to thrive" This golden thread is within our grasp, but only if we work together to create sustainable, resilient, energy systems that empowers our continent. I look forward to an engaging discourse as we explore solutions to this crucial issue. #ESC2024 #energyacesss #netzero #sustanabilty

𝗖𝗟𝗘𝗔𝗡𝗧𝗘𝗖𝗛 𝗕𝗢𝗨𝗡𝗖𝗘𝗦 𝗕𝗔𝗖𝗞 Eco-Business' 10 July Newsletter 🌱 This is a preview of the latest edition of the “Insights Weekly” newsletter that tracks ESG and sustainable development trends across Asia Pacific. Want to receive our weekly newsletter in your inbox every Wednesday morning? Subscribe now for free: https://lnkd.in/gphNAkS _________ After a difficult 2023 bedevilled by economic uncertainty and geopolitical conflict, the cleantech sector has bounced back this year. A new report by think tank Institute for Energy Economics and Financial Analysis (IEEFA) Analysis points to a promising future for cleantech in Asia Pacific. A new law just passed in Vietnam could spell a renewables boom in a country that is struggling to break its dependence on coal. Eco-Business board advisor and cleantech entrepreneur Steve Melhuish, on the latest EB Podcast, says that investors in climate tech in Southeast Asia should avoid flashy solutions and put their money where the emissions are. Hydrogen is another emerging space to watch out for, although a recent study shows that not all green hydrogen is as sustainable as it is said to be. 1. Vietnam’s long-awaited greenlight for direct renewables sourcing could revive stalled market (https://lnkd.in/gtkrsynj) 2. IEEFA projects Asia Pacific investment in solar and wind to hit US$770 billion by 2050 (https://lnkd.in/guueK3XX) 3. 'Five years ago, everyone wanted to be Elon Musk': Where is #climatetech in Southeast Asia now? (https://lnkd.in/gXbjRVWk) 4. Transforming COP: Is it time for the UN climate talks to downsize and change format? (https://lnkd.in/g2Dbz68G) 5. What's next after suspension of Vietnam's Song Hau 2 coal power project? (https://lnkd.in/gvwzyrfp) 6. Solar-powered #hydrogenproduction fails to meet clean #fuelemission limits (https://lnkd.in/gtrJHuCY) 7. Temasek Foundation sees its first reduction in portfolio emissions against targets set in 2020 (https://lnkd.in/g2AVEw5x) 8. What is parametric insurance and why is its demand growing in Asia? (https://lnkd.in/gkvat7-n)

🌍 **Global Investment in Clean Tech: A Path to Net Zero** The International Energy Agency projects global investment in clean technologies to reach $2 trillion this year, nearly double the amount spent on fossil fuels. However, this is still less than half the $4.5 trillion annual investment needed by the early 2030s to achieve net zero goals. Despite the significant growth in wind and solar capacity, no major economy is currently on track to meet its 2030 emissions reduction targets, according to Wood Mackenzie. The pace of change remains slow, with much of the action expected to accelerate post-2030. With global investment in clean tech on the rise, Cenergy see immense opportunities to drive sustainable energy forward. Join us in supporting this transition and exploring collaboration opportunities. Together, we can contribute to a greener and more sustainable future. #CleanTech #NetZero #RenewableEnergy #EnergyStorage #Cenergy #Sustainability #Innovation #RFB #Investment

PwC UK’s Net Zero Economy Index 2024 reveals that global decarbonisation efforts have stalled, with a carbon intensity decrease of just 1.02% in 2023. Despite a rise in renewable energy capacity, surging energy demand led to an increase in fossil fuel consumption, putting progress at risk. Find out how businesses and policy makers can take action. #NetZero #Sustainability