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Winners Change the Course of Climate Change

Aguas Andinas, Chile’s largest water utility company, is making Santiago’s three wastewater treatment plants into "biofactories” that convert wastewater and sewer sludge into clean energy. All three treatment plants will be zero waste, energy self-sufficient, and carbon neutral by 2022. (Photo courtesy Aguas Andinas)

Aguas Andinas, Chile’s largest water utility company, is making Santiago’s three wastewater treatment plants into “biofactories” that convert wastewater and sewer sludge into clean energy. All three treatment plants will be zero waste, energy self-sufficient, and carbon neutral by 2022. (Photo courtesy Aguas Andinas)

By Sunny Lewis

BONN, Germany, November 13, 2018 (Maximpact.com News) – From a mobile app that fights food waste and hunger to a government that is taking 100 percent responsibility for its greenhouse gas emissions, 15 projects from around the world are demonstrating how fresh ideas, large and small, can change the course of climate change.

“These activities shine a light on scalable climate action around the world,” said Patricia Espinosa of Brazil, executive secretary of UN Climate Change . “They are proof that climate action isn’t only possible, it’s innovative, it’s exciting and it makes a difference.”

Human activities, such as burning fossil fuels, have triggered a change in the Earth’s climate system that could leave the planet uninhabitable before the end of this century, warns the latest scientific evaluation from hundreds of scientists with the Intergovernmental Panel on Climate Change.

And only human activities that protect the climate can reverse that calamitous course.

“Climate action leaders, including those recognized by the Momentum for Change initiative, are stepping up to meet the global climate challenge by delivering on the Paris Agreement,” said UN Secretary-General António Guterres.

“These inspirational leaders, from communities, governments, businesses and organizations, come from all corners of the globe and all levels of society,” Guterres said. “Their winning projects range from transformative financial investments to women-led solutions to protect people and the planet.”

“Through their leadership and creativity, we see essential change,” said the UN chief.

The Momentum for Change initiative, advanced by the UN Climate Change secretariat, illuminates some of the most practical examples of what people are doing to combat climate change.

“There is an enormous groundswell of activities underway across the globe that are moving the world toward a highly resilient, low-carbon future. Momentum for Change recognizes innovative and transformative solutions that address both climate change and wider economic, social and environmental challenges,” UN Climate Change said in a statement.

The 2018 Lighthouse Activities were selected by an international advisory panel as part of the secretariat’s Momentum for Change initiative, which is implemented with the support of The Rockefeller Foundation, and operates in partnership with the World Economic Forum, Masdar’s Women in Sustainability, Environment and Renewable Energy Forum (WiSER) initiative, and Climate Neutral Now.

The 15 projects were chosen from more than 560 applications from businesses and governments, communities and nongovernmental organizations throughout the world.

Each of the 15 winning projects, called Lighthouse Activities, falls within one of Momentum for Change’s four focus areas: Planetary Health, Climate Neutral Now, Women for Results and Financing for Climate Friendly Investment.

They will be showcased in a series of special events during this year’s UN Climate Change Conference (COP24) taking place December 2-14 in Katowice, Poland.

The 2018 Momentum for Change Lighthouse Activities are:

Planetary Health

* Climate-Efficient School Kitchens and Plant-Powered Pupils | Germany: ProVeg International is providing healthy, climate-friendly meals in German schools. ProVeg International wants animal agriculture placed on the agenda for COP24, saying, “Animal agriculture is one of the world’s largest contributors to climate change. This issue must be prioritized at COP24.”

  • Santiago Biofactory | Chile: Aguas Andinas, Chile’s largest water utility company together with its main shareholder SUEZ, is transforming Santiago’s three wastewater treatment plants into “biofactories” that convert wastewater and sewer sludge, a wastewater treatment by-product, into clean energy.
  • Composting Waste Treatment: An Ecological Solution to Poverty and Climate Change | Haiti: Sustainable Organic Integrated Livelihoods (SOIL) is building composting toilets in Haiti, reducing the spread of diseases like cholera and typhoid, creating jobs, and restoring local environments.
  • Sri Lanka Mangrove Conservation Project | Sri Lanka: Seacology, a nonprofit environmental conservation organization, is helping Sri Lanka become the first nation in history to preserve and replant all of its mangrove forests.

Climate Neutral Now

  • Creating the Greenest Football Club in the World – Forest Green Rovers | United Kingdom: The Forest Green Rovers is bringing eco-thinking and technology to a new and large audience: football fans. In 2010, the team began its journey to becoming the world’s first carbon neutral football club. In 2017 FGR became the world’s first vegan football club because of the huge environmental and animal welfare impacts of livestock farming, as well as to improve player performance and give fans healthier, tastier food on matchdays. The club has since been described by FIFA, as “the world’s greenest football club.”
  • Monash’s Net Zero Initiative | Australia: Monash University, Australia’s largest university, has committed to reach net zero emissions by 2030 for all four of its Australian campuses.
  • Klimanjaro – Climate Neutral Supply Chain | Norway: Fjordkraft, the second largest electricity retailer in Norway, is using its purchasing power to inspire all its suppliers to be climate neutral by 2019.
  • Carbon Neutral Government Program | Canada: In 2010, the province of British Columbiabecame the first government at the provincial, territorial, or state level in North America to take 100 percent responsibility for the greenhouse gas pollution from all 128 of its public-sector organizations. B.C. is committed to reaching its 2050 target of reducing greenhouse gas emissions to 80 percent below 2007 levels.

Women for Results

  • Yalla Let’s Bike Initiative | Syria: With the Yalla Let’s Bike Initiative women are defying traditional gender roles and combatting overcrowded streets by promoting bicycling as a healthy and sustainable mode of transportation in the war-torn city of Damascus.
  • Women Leading a Food Sharing Revolution! | UK, Sweden, USA: Women are leading a food revolution with OLIO, the world’s only neighbor-to-neighbor food sharing app. OLIO is co-founded and led by women and two-thirds of the app’s users are women.
A Syrian woman participates in a Yalla Let’s Bike event in the city of Damascus. September 1, 2018 (Photo courtesy Yalla Let’s Bike Initiative) Posted for media use

A Syrian woman participates in a Yalla Let’s Bike event in the city of Damascus. September 1, 2018 (Photo courtesy Yalla Let’s Bike Initiative) Posted for media use

Between 33-50 percent of all food produced globally is never eaten, and the value of this wasted food is worth over US$1 trillion annually.

OLIO points out that it takes a land mass larger than China to grow the food each year that is never eaten – land deforested, species driven to extinction, indigenous populations moved, soil degraded – all to produce food that we throw away. Food that is never eaten accounts for 25 percent of all fresh water consumption globally. Meanwhile 800 million people go to bed hungry every night.

  • HelpUsGreen | India: Women are creating compost from ceremonial flowers and simultaneously cleaning up the River Ganges. Through HelpUsGreen women collect 8.4 tons of floral-waste from temples in Uttar Pradesh on a daily basis. These sacred flowers are handcrafted into charcoal-free incense, organic vermicompost and biodegradable packaging material through the organization’s ‘Flowercycling®’ technology.

“Today,” says HelpUsGreen, “orthodox temples and religious authorities want to be a part of our mission -pointing to a change against a century old harmful religious practice of dumping temple-waste in the Indian rivers.”

  • Feminist Electrification: Ensuring Pro-Women Outcomes in Rural Energy Access | Haiti: Energy poverty, a lack of access to modern energy services, is disproportionally affecting women in rural areas. So, EarthSpark International, a women-run enterprise, is approaching all its energy access projects with a gender lens, referring to this as “feminist electrification.”

In 2012, EarthSpark turned on a first-of-its-kind privately operated, pre-pay microgrid in Les Anglais, Haiti, a small town that had never before had grid electricity. EarthSpark aims to build 80 microgrids in Haiti by the end of 2022.

Financing for Climate Friendly Investment

  • Rwanda Green Fund – FONERWA | Rwanda: The Rwanda Green Fund (FONERWA) is investing in public and private projects that drive transformative change. It is one of the first national environment and climate change investment funds in Africa.

The fund invests in the best public and private projects that have the potential for transformative change and that align with Rwanda’s commitment to building a strong green economy.

  • The MAIS Program | Brazil: The MAIS Program (Modulo Agroclimático Inteligente e Sustentável) is helping family agricultural operations adapt to climate change in the Jacuípe Basin, Brazil’s semi-arid region. It is one of the first ever climate-smart agricultural programs to mainstream climate disruptive technologies among farmers in Brazil.
  • Catalytic Finance Initiative | Global: Bank of America Merrill Lynch is working with partners to mobilize US$10 billion for innovative and high-impact climate mitigation and sustainability-focused investments.

Projects announced to date by Bank of America under the Catalytic Finance Initiative include new energy efficiency financing in partnership with the New York State Green Bank totaling $800 million, arranging a $204 million green project bond for wind developer Energia Eolica S.A. in Peru, and helping to structure a new $100 million facility with the Global Alliance for Clean Cookstoves.

“A central way in which we are helping to build sustainable economies is through our financing of clean energy,” said Anne Finucane, vice chairman, Bank of America. “The Catalytic Finance Initiative demonstrates how all partners working together will achieve a greater collective impact.”

The UN’s Momentum for Change initiative is part of a broader effort to mobilize action and ambition as national governments work toward implementing the Paris Climate Change Agreement and the Sustainable Development Goals.

Featured Image: Tessa Cook, left, and Saasha Celestial-One, Co-founders of OLIO, the food sharing app. 2018 (Photo courtesy OLIO) Posted for media use.


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10 New Energy Pioneers Driving Our Future

Löfbergs coffee roasting house in Karlstad, Sweden is home to the world’s first large-scale testing facility with SaltX salt-technology solar panels for heating and cooling on the roof of the roasting house. (Photo courtesy SaltX) Posted for media use

Löfbergs coffee roasting house in Karlstad, Sweden is home to the world’s first large-scale testing facility with SaltX salt-technology solar panels for heating and cooling on the roof of the roasting house. (Photo courtesy SaltX) Posted for media use

By Sunny Lewis

NEW YORK, New York, April 17, 2018 (Maximpact.com News) – The top 10 innovators revolutionizing the energy, transport, and technology sectors were unveiled April 9 at Bloomberg New Energy Finance’s Future of Energy Summit in New York City .

The 2018 New Energy Pioneers, as they are known, are responding to changes and disruption in the energy system, and are pursuing new opportunities in storage, EV charging, digitalization, heat recovery, and blockchain.

By recognizing innovators, Bloomberg New Energy Finance (BNEF) aims to highlight and accelerate the transition that is underway in today’s new energy economy, towards new business models, technologies, market structures and commercial opportunities.

An independent panel of industry experts, assisted by BNEF’s analysts and technology specialists, selected the 10 winners from more than 160 applicants from 47 countries.

Each candidate was assessed on three criteria: technology or business model innovation, and what novelty it brings to the market; evidence of substantive progress in the form of strong commercial partnerships, the distribution channels in place and sales growth; and the potential to scale and have a global impact.

The 2018 New Energy Pioneers are:

  • Advanced Microgrid Solutions (U.S.) designs, develops, and manages portfolios of distributed energy resources providing dynamic grid management and value to wholesale markets.

“Being recognized as a New Energy Pioneer is a great honor for AMS,” said Susan Kennedy, CEO, Advanced Microgrid Solutions. “This award really is a signal that the era of trans-active energy management has arrived.”

  • Bidgely (U.S.) is a load disaggregation company that uses machine learning and data analytics to process smart meter data and provide its users with insights about their energy consumption.

“Bidgely leverages Artificial Intelligence to help utilities personalize the energy experience for consumers around the world,” said Abhay Gupta, CEO, Bidgely. “We celebrate becoming a Bloomberg New Energy Pioneer, an honor which recognizes our ability to solve real-world utility business challenges like digital transformation and a rapidly evolving energy landscape.”

  • BURN (Kenya) has designed and manufactured over 370,000 clean cook stoves, improving both air quality and access to power for low-income households.

Peter Scott, CEO, BURN, said, “To win an award from an organization I admire so much is humbling. Recognition as a Bloomberg New Energy Pioneer means that BURN is able to share its story with the world. It gives a boost to our mission of saving forests and lives in the developing world through improved cooking solutions.”

  • Climeon (Sweden) has commercialized the extraction of electricity from low-temperature heat (70-120 degrees Celsius), used in the context of waste heat or geothermal power.

“Climeon’s vision is to become the Number 1 climate solver. To reach this we have to be true pioneers. Becoming a Bloomberg New Energy Pioneer confirms that we are on the right path and it really makes us very proud,” said Climeon CEO Thomas Ostrom.

  • Enbala (U.S.) operates a real-time energy-balancing platform creating controllable and dispatchable energy resources from flexible loads, energy storage and renewable energy sources.

Said Arthur (Bud) Vos, CEO and President, Enbala, “We exist for one reason: to create an energy future that’s sustainable and balanced. It’s gratifying to me personally and to everyone who works at Enbala to have our energy balancing technology recognized by such a prestigious and well-respected organization.”

  • Greenlots (U.S.) is a hardware-agnostic provider of electric vehicle network management software and services. These give utilities, cities, communities and automakers the ability to control grid loads through smart charging and demand response.

“At Greenlots, we’re dedicated to delivering cutting-edge technology to our customers, allowing them to optimize and manage their EV charging infrastructure, and provide drivers a seamless, reliable charging experience, said Greenlots CEO Brett Hauser. “This recognition from Bloomberg New Energy Finance is a key indicator of the significance of our work to make EVs a part of everyday life across the globe, while creating new market opportunities at the grid edge.”

  • Limejump (U.K.) is an energy tech company that connects data capabilities and renewable energy generation to the national grid, optimizing assets’ value and supporting sustainability using proprietary software to aggregate and manage a distributed fleet of flexible assets.

“We see Bloomberg as a key ally in providing our customers with insight and information which is needed to ensure we all build this new energy market bottom up,” said Erik Nygard, CEO, Limejump.

  • LO3 Energy  (U.S.) is an early mover in peer-to-peer energy trading using blockchain technology, and is developing other applications for its blockchain platform.

“A blockchain is a decentralized, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the collusion of the network,” according to Wikipedia. “The result is a robust workflow where participants’ uncertainty regarding data security is marginal.”

“Making energy is about one of the dirtiest things we do on the planet. It puts more toxins and pollution in the air than just about any other industry,” said Lawrence Orsini, CEO, LO3 Energy. “We are honored that BNEF chose to recognize the impact LO3 Energy is making today with its blockchain technology. Empowering prosumers and bringing choice to consumers, together we are making fundamental changes that will affect the energy sector’s advancement in clean energy forever.”

  • SaltX (Sweden) is an innovator in storing heat chemically, using a proprietary salt-based technology. This uses a nano coating and graphene to prevent salt crystals from growing when energy is stored, greatly improving the number of storage cycles whilst also reducing corrosion.

“Being a BNEF New Energy Pioneer means of course a great honor and helps putting SaltX on the map, but it also means a great responsibility for making the sustainable energy revolution happen,” said Karl Bohman, CEO, SaltX. “We at SaltX promise to work tirelessly – and we will not stop – until our low-cost, scalable and natural energy storage technology is used on a global basis.”

  • WiTricty (U.S.) has developed wireless charging through magnetic resonance technology, allowing high-efficiency power transfer for the electric vehicle industry.

WiTricity CEO Alex Gruzen said, “WiTricity is the pioneer in developing wireless charging for electric vehicles that is as fast and efficient as plugging in. Global automakers are accelerating development of EV platforms, and WiTricity is focused on improving the ownership experience—no more cables, no mess, and no worry about remembering to charge. We also recognize that the future of mobility is electrified, autonomous and shared, and wireless charging is an essential enabler for fleets of robotaxis where there is no driver to plug in.”

Bloomberg New Energy Finance is an industry research firm focused on helping energy professionals generate opportunities. With a team of 200 experts spread across six continents, BNEF provides independent analysis and insight, enabling decision-makers to navigate change in an evolving energy economy.

Michael Wilshire, selection committee chair and head of strategy at Bloomberg New Energy Finance, said, “We have seen a sharp uptick in the number of applicants that use digital technologies and software to help make the electricity system more resilient, flexible and efficient – all critical elements of a more decentralized and renewable energy system.”

“Emerging technologies such as machine learning and blockchain are being used to improve decision making and to make operations more efficient, as well as to create new capabilities, such as peer-to-peer energy trading and the ability to manage complex sets of distributed assets,” he said.

“Transport is being transformed, with two of this year’s Pioneers developing infrastructure, software, and services to support the rollout of electric vehicles,” said Wilshire. “We are very encouraged by the innovation, determination and creativity shown by these Pioneers and by the potential that they have to help transform the energy and transport systems.

Featured Image: In summer 2016, California State University enlisted Advanced Microgrid Solutions to install the first fleet of Hybrid Electric Buildings® at an educational institution. Hybrid Electric Buildings® store energy when it is cleaner and more plentiful, and shift building loads from the electric grid to battery power when demand is high. (Photo courtesy Advanced Microgrid Solutions) Posted for media use


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China Leads the New Clean Energy Reality

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Jim Carr, Minister of Energy, Canada; Wan Gang, Minister of Science and Technology, China; Dr. Fatih Birol, Executive Director, International Energy Agency; Rick Perry, Secretary of Energy, USA; Terje Søviknes, Minister of Petroleum and Energy, Norway (Photo courtesy IEA) Posted for media use.

By Sunny Lewis

BEIJING, China, June 8, 2017 (Maximpact.com) – Now that President Donald Trump has announced that he will exit the Paris Agreement on climate, the world’s major emerging economies, including China and India, are replacing the United States at the center stage of the clean energy transition.

By betting on energy efficiency, wind, solar and other renewables, these countries are increasingly leading the way, while the United States falls behind as Trump moves the country towards greater reliance on coal and oil.

The International Energy Agency projects that all of the growth in energy demand in the next 25 years will take place in emerging and developing countries.

“There is a new reality in clean energy,” says Christian Zinglersen of the International Energy Agency (IEA), who heads the new Clean Energy Ministerial Secretariat. Based at the IEA headquarters in Paris, the Clean Energy Ministerial is a global forum that promotes clean energy policies.

This is the importance of the top-level meeting of energy ministers from the world’s biggest economies taking plan in Beijing this week, said Zinglersen, formerly deputy permanent secretary at the Danish Ministry of Energy, Utilities and Climate.

“The fact that representatives from fossil-fuel producers like Mexico and Saudi Arabia will join renewable-energy pioneers like Denmark and Germany for a top-level meeting in China is not a coincidence,” he said. “We are witnessing a global consensus that the key to the energy transition will reside with decisions made in emerging economies.”

China, the world’s biggest emitter of heat-trapping greenhouse gases, is changing its coal-burning ways. “China is now the undisputable global leader of renewable energy expansion worldwide, and the IEA forecasts that by 2021, more than one-third of global cumulative solar PV and onshore wind capacity will be located in China,” said Zinglersen.

India was the first country to set comprehensive quality and performance standards for light emitting diodes (LEDs), and it expects to save as much as 277 terawatt-hours of electricity between 2015 and 2030, avoiding 254 million metric tons of carbon dioxide emissions – the equivalent of 90 coal-fired power plants.

On June 6, during a side event on efficient lighting at the Clean Energy Ministerial, 13 companies announced new commitments to the Global Lighting Challenge totaling nearly six billion LED lighting products.

The Global Lighting Challenge has now reached 14 billion high-efficiency, high-quality lighting products committed, surpassing its 10 billion light goal set at the sixth Clean Energy Ministerial two years ago.

Twelve Chinese solid-state lighting companies committed to deploy 3.29 billion LED Lamps and 5.77 million LED streetlights by the end of 2018.

Based on these commitments, the total cumulative energy savings from 2017–2018 is estimated at more than 45 billion kWh, which is roughly half of the Three Gorges Hydropower Station’s annual power generation (93.5 billion kWh in 2016).

These energy savings lead to CO2 a emissions reduction estimated at more than 40.5 million tons.

LEDVANCE, an international company for lighting products and networked light applications based in Germany, announced its commitment to sell 2.5 billion LED lamps by 2023.

LEDVANCE’s goal will save the equivalent amount of energy produced by 75 medium-sized coal-fired power plants, the company estimates.

“We made a very conscious choice in pledging this commitment and are very proud in taking part in the Global Lighting Challenge,” said Thomas Dreier, global head of research and development at LEDVANCE.

“LED lamps are not only ecologically sensible but also economically. In combination with smart lighting solutions, LED lamps in the current generation have a potential of reducing energy consumption and costs by 90 percent,” Dreier said.

“At LEDVANCE, we have been investing a lot in researching the potential of tomorrow’s LED lamps, which will continue to increase the scope of what is possible in energy efficiency.”

The number of electric cars on the roads around the world rose to two million in 2016, following a year of strong growth in 2015, according to the latest edition of the International Energy Agency’s Global EV Outlook.

China remained the largest market in 2016, accounting for more than 40 percent of the electric cars sold in the world.

With more than 200 million electric two-wheelers and more than 300,000 electric buses, China is by far the global leader in the electrification of transport. China, the United States and Europe made up the three main markets, totaling over 90 percent of all electric vehicles sold around the world.

Four large U.S. cities: Los Angeles, Seattle, San Francisco and Portland, are leading a partnership of over 30 cities to mass-purchase EVs for their public fleets including police cruisers, street sweepers and trash haulers. The group of cities is currently seeking to purchase over 110,000 EVs, a significant number when compared to the 160,000 total EVs sold in the entire United States in 2016.

U.S. Department of Energy Secretary Rick Perry told his counterparts in Beijing, “I don’t believe you can have a real conversation about clean energy without including carbon capture, utilization and storage (CCUS). The United States understands the importance of this clean technology and its vital role in the future of energy production.”

Perry made these comments at a meeting of the energy ministers of Canada, China, Norway, and the United States, as well as heads of delegation from Australia and the European Commission, business leaders and civil society organizations held ahead of the Clean Energy Ministerial in Beijing.

Carbon capture, utilization and storage is a process that captures CO2 emissions from sources like coal-fired power plants and either reuses it or stores it so it will not enter the atmosphere.

The ministers were invited by the International Energy Agency and China to review how to increase collaboration to drive further deployment of carbon capture, utilization and storage (CCUS).

The meeting was held ahead of the 8th Clean Energy Ministerial (CEM8), in Beijing.

“We have already seen the success of projects like Petra Nova in Texas, which is the world’s largest post-combustion carbon-capture system,” Perry said. “Our experience with CCUS proves that you can do the right thing for the environment and the economy too.”

The system at Petra Nova can capture 1.6 million tons of CO2 each year from an existing coal-fired power plant unit, a capture rate of up to 90 percent from a supplied slipstream of flue gas. By using CO2 captured from the plant, oil production at West Ranch oilfield is expected to increase from around 500 barrels per day to up to 15,000 barrels per day.

Jim Carr, Canada’s Minister of Natural Resources said, “Carbon capture, use and storage holds enormous potential to enable economic growth and create jobs, while ensuring the environment is protected.”

“Canada hopes to continue working with domestic and international partners, including through the Clean Energy Ministerial and Mission Innovation, to help us all address the technical and policy challenges around wide scale implementation of this important technology,” Carr said.

“There are many reasons to stand for clean energy today,” said Zinglersen. “These can range from reducing greenhouse gas emissions but also battling the scourge of air pollution, improving energy security by reducing the dependency of fossil fuels, diversifying supply, creating high-tech jobs or fostering innovation. As such, approaches to clean energy will vary from country to country.”

By committing to these new clean technologies, he said, countries like China are helping drive down costs for the benefit of the world.


Featured Image: Dabancheng is said to be China’s the wind power capital. The Dabancheng Wind Farm is situated on the road from Urumqi to Turpan in northwestern China. (Photo courtesy Asian Development Bank) Creative commons license via Flickr

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China’s Multi-Trillion Dollar ‘Belt and Road’

Silk Road

Chinese President Xi Jinping, and his wife Peng Liyuan, accompany their guests, including Russian President Vladimir Putin, left, to a welcome banquet at the Belt and Road Forum for International Cooperation, Beijing, China, May 14, 2017. (Photo by Liu Weibing courtesy Xinhua) State media

By Sunny Lewis

BEIJING, China, May 16, 2017 (Maximpact.com News) – China’s ambitious new trade and infrastructure initiative One Belt, One Road follows the spirit of the ancient Silk Road that connected Asia and Europe, Chinese President Xi Jinping told world leaders Sunday in Beijing.

Xi was speaking at a high-level forum to gather cooperation for China’s Silk Road Economic Belt and the 21st Century Maritime Silk Road trade plan.

“About 2,000 years ago, our ancestors cherished the hope of friendly communications. They built the ancient Silk Road and started a period of grand exchanges in the history of mankind,” Xi said, toasting the Belt and Road Forum for International Cooperation.

Linking China with 64 countries that collectively account for 62 percent of the world’s population and 30 percent of global GDP, the One Belt, One Road project is long on ambition, and on funding.

Chinese state media calculate that roughly US$1 trillion has already been invested in the initiative, with another several trillion due to be invested over the next decade.

During his keynote speech, Xi pledged at least $113 billion in further funding for the initiative he first announced in 2013. The Chinese leader urged countries across the globe to join hands with him in pursuit of globalization.

“We have no intention to form a small group detrimental to stability,” Xi said. “What we hope to create is a big family of harmonious co-existence.”

Nearly 70 countries and international organizations have signed up to participate, said Xi at the close of the two-day summit on Monday.

Addressing the delegates, UN Secretary-General António Guterres of Portugal drew comparisons between China’s One Belt, One Road initiative and the UN’s Sustainable Development Goals, saying both are rooted in a shared vision for global development.

“Both strive to create opportunities, global public goods and win-win cooperation. And both aim to deepen ‘connectivity’ across countries and regions: connectivity in infrastructure, trade, finance, policies and, perhaps most important of all, among peoples,” said the secretary-general.

The One Belt, One Road initiative includes nearly $1 trillion worth of infrastructure investments in Africa, Asia and Europe, including bridges, nuclear plants and railways.

Guterres stressed the need to work together to uphold international environmental and social standards, ensuring that rural areas, not just cities, benefit.

“With the initiative expected to generate vast investments in infrastructure, let us seize the moment to help countries make the transition to clean-energy, low-carbon pathways – instead of locking in unsustainable practices for decades to come,” Guterres said, praising Chinese leadership on climate change.

The Joint Communiqué issued by world leaders at the conclusion of the forum Monday supports environmental values.

It states, “We are determined to prevent the degradation of the planet, including immediate action on climate change issues, to encourage the full implementation of agreements by all the parties to the Paris Agreement; to manage natural resources in an equitable and sustainable manner, to protect and sustainably use the oceans, freshwater, forests, mountains and drylands; the conservation of biodiversity, ecosystems and wildlife, combating desertification and land degradation, and achieving economic, social and environmental integration, balanced and sustainable development.”

Opposing all forms of protectionism, the Communiqué also underlines its green intentions, “Emphasizing the economic, social, financial, financial and environmental sustainability of the project, promoting high environmental standards, and coordinating the relationship between economic growth, social progress and environmental protection.”

But there are worries that the Belt and Road is really a vehicle for China’s view of itself as the central hub of the Eurasian continent.

This concern kept India from sending an official representative to the forum. The United States announced at the last minute that it would send a government delegation.

In his keynote speech Xi tried to calm these fears, saying, “We are ready to share practices of development with other countries, but we have no intention to interfere in other countries’ internal affairs, export our own social system and model of development, or impose our own will on others. In pursuing the Belt and Road Initiative, we will not resort to outdated geopolitical maneuvering. What we hope to achieve is a new model of win-win cooperation.”

The forum was attended by 29 government leaders, from: Argentina, Belarus, Cambodia, Chile, the Czech Republic, Ethiopia, Fiji, Greece, Hungary, Indonesia, Italy, Kazakhstan, Kyrgyzstan, Kenya, Laos, Malaysia, Mongolia, Myanmar, Pakistan, Philippines, Poland, Russia, Serbia, Spain, Sri Lanka, Switzerland, Turkey, Uzbekistan and Vietnam.

To a volley of international criticism, China included North Korea in the forum, just as Pyongyang fired off its latest missile test.

UN Secretary-General Guterres called on governments to settle peacefully any tensions related to the One Belt, One Road initiative, saying, “Just as the initiative opens new corridors for goods, let us also keep open the channels for dialogue.”

He praised the initiative for its “immense potential” to promote access to markets, and as “far-reaching in geography and ambition.”

Chile’s President Michelle Bachelet was supportive of the One Belt, One Road concept, telling the forum, “Chile welcomes the great effort made by China in the search for new mechanisms for rapprochement, connectivity, innovation and sustainable development.”

“Our presence here today signals our support for this initiative, reaffirming our ties of friendship and cooperation,” said Bachelet. “We are betting on the future, joining in an effort that will lead in the medium and long term to new options for joint work that favors development for all. Chile is a strong promoter of integration. We have defended the idea of convergence in diversity, seeking common interests rather than differences, particularly in the economic arena for mutual benefits.”

World Bank Group President Jim Yong Kim, a Korea-born American citizen, told the forum he was “inspired” by One Belt, One Road.

“The World Bank Group very proudly supports the Government of China’s ambitious, unprecedented effort to light up that night sky. The Belt and Road will improve trade, infrastructure, investment, and people-to-people connectivity – not just across borders, but on a trans-continental scale,” said Kim.

The Belt and Road Initiative has potential to lower trade costs, increase competitiveness, improve infrastructure, and provide greater connectivity for Asia and its neighboring regions,” Kim said.

He explained that projects would require innovative financing mechanisms, “a mix of public and concessional finance and commercial capital.”

The World Bank Group has ongoing commitments of US$86.8 billion in numerous infrastructure, trade, power, and connectivity projects in countries along the Belt and Road route, Kim said.

In transportation alone, the Bank has commitments of US$24 billion, Kim said. “We’re financing projects like Afghanistan’s Trans-Hindukush Road Connectivity, Kazakhstan’s East-West Roads, Pakistan’s Karachi Ports, and Uzbekistan’s Pap-Angren Railway that are already reinforcing connections along the Belt and Road.”

The International Finance Corporation, the World Bank’s private sector arm, is partnering with the Silk Road Fund and China’s Three Gorges Company to develop hydropower in Pakistan.

Kim said that at the invitation of China’s Ministry of Finance, the World Bank and other multilateral banks have signed an agreement to support the Belt and Road, declaring, “We’re ready to help make the promise of the Belt and Road Initiative a reality.”

China plans the next One Belt, One Road summit in 2019.


Featured Images: Chinese President Xi Jinping and his wife Peng Liyuan welcome UN Secretary-General Antonio Guterres before a banquet for the Belt and Road Forum for International Cooperation in Beijing, capital of China, May 14, 2017. (Photo by Yao Dawei courtesy Xinhua) State media

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Fortune 500 Firms Embrace Clean Energy

AlamosaSolar

With over 500 dual-axis, pedestal mounted tracker assemblies, each producing 60 kW, the Alamosa Solar Generating Project is the largest high-concentrating solar photovoltaic power generation system in the world, 2014, Alamosa, Colorado (Photo by Dennis Schroeder / NREL) Public domain

By Sunny Lewis

WASHINGTON, DC, May 2, 2017 (Maximpact.com News) – A growing number of Fortune 500 companies are taking ambitious steps to slash their greenhouse gas emissions, buy more renewable energy and shrink their energy bills through energy efficiency, finds a new report from World Wildlife Fund, Ceres , Calvert Research and Management  and CDP, formerly the Carbon Disclosure Project.

Findings from the new report, “Power Forward 3.0: How the largest U.S. companies are capturing business value while addressing climate change,” are based on 2016 company disclosures to CDP, which holds the world’s largest collection of self-reported corporate environmental data, and other public sources.

“CDP and the investors we work with, representing over US$100 trillion in assets, engage thousands of the world’s largest companies to measure and manage climate-related risks” said Lance Pierce, president of CDP North America.

“Voluntary corporate disclosure highlights the compelling business case for corporate clean energy procurement and clearly demonstrates the transition underway in the energy markets,” said Pierce. “Companies in turn have benefited, identifying billions of dollars in savings and new opportunities through their disclosures to CDP.”

The numbers tell the story.

Sixty-three percent of the largest companies, the Fortune 100, have set at least one clean energy target.

Nearly half of Fortune 500 companies, 48 percent, have set at least one climate or clean energy target, up five percent from an earlier 2014 report.

A greenhouse gas reduction goal is the most common target, set by 211 companies.

Roughly 80,000 emission-reducing projects by the 190 Fortune 500 companies reporting data showed nearly $3.7 billion in savings in 2016 alone.

Many large companies are setting 100 percent renewable energy goals and science-based greenhouse gas reduction targets that align with the global goal of limiting global temperature rise to below two degrees Celsius set by the Paris Climate Agreement.

More than 20 Fortune 500 companies such as industry giants Wal-Mart, Bank of America, Google and Facebook, have committed to powering all corporate operations with 100 percent renewable energy, compared to only a few mega-companies just a few years ago.

Google announced in December that renewable energy will power 100 percent of its global operations in 2017, a year ahead of schedule. Nearly all of this renewable energy will come from wind power.

“American businesses are leading the transition to a clean economy because it’s smart business and it’s what their customers want,” said Marty Spitzer, World Wildlife Fund’s senior director of climate and renewable energy. “Clean energy is fueling economic opportunity from coast to coast without regard for party line. Washington policies may slow this boom, but these companies are making it very clear that a transition to a low-carbon economy is inevitable.”

American corporate giants are taking these steps despite the climate denial policies of President Donald Trump and his cabinet. Trump has threatened to pull the United States out of the Paris Climate Agreement, for which President Barack Obama was a leading voice. Adopted by consensus of 195 world governments in December 2015, the pact has been ratified by 144 countries and took effect on November 4, 2016.

Trump has appointed climate change deniers Scott Pruitt to head the Environmental Protection Agency and Rick Perry to head the Department of Energy. Pruitt last week ordered removal of all Obama-era climate change data from the EPA website, calling it “outdated.”

On March 28, Trump signed an executive order to dismantle President Barack Obama’s Clean Power Plan, which would have moved the nation away from burning coal and toward cleaner energy sources such as natural gas and renewables.

More than 200,000 people marched in the streets of Washington, DC on Saturday in protest of these moves and tens of thousands more took part in climate marches across the country.

But the large corporations are not embracing renewables and energy efficiency in response to Trump policies or to public condemnation of them. Instead, they are doing so to benefit their bottom lines.

The report highlights the financial benefits companies are receiving from their clean energy investments. The emission reductions from these efforts are equivalent to taking 45 coal-fired power plants offline every year.

The growth in the number and ambition of renewable energy commitments is mainly the result of recent sharp declines in renewable energy costs, which saves companies money, and of price certainty that comes with renewable energy, the report finds.

Praxair, IBM and Microsoft are among the companies saving tens of millions of dollars annually through their energy efficiency efforts.

“We are encouraged to see significant improvement in both the number of Fortune 500 companies setting climate and clean energy goals and the ambition of those goals – in particular commitments to setting science-based and 100 percent renewable energy targets,” said Anne Kelly, senior director of policy and the BICEP network at Ceres, a sustainability nonprofit organization based in Boston, Massachusetts.

“But in order to meet our national and global emissions goals, more companies will need to join the champions highlighted in this report, both in setting goals and in becoming vocal advocates for continued federal and state policies in support of climate and clean energy progress,” said Kelly.

Ten percent (53) of companies have set renewable energy targets, and almost half of those (23) have committed to power 100 percent of their operations with renewable energy – among those, Wal-Mart, General Motors, Bank of America, Google, Apple and Facebook.

“Corporate commitment to energy efficiency and renewable energy is an accelerating trend that illustrates broader recognition within the business community of the importance of clean energy and the financial benefits it can yield,” said Stu Dalheim, vice president of corporate shareholder engagement for Calvert.

“Many of the largest companies in the U.S. are achieving significant cost savings through clean energy programs and mitigating longer-term risks associated with energy price volatility,” he said.

Some of the strongest efforts are among Fortune 100 companies, with 63 percent adopting or retaining goals.

The report also shows strong improvement among the smallest 100 companies in the Fortune 500, with 44 percent setting goals in one or more categories, up 19 percentage points from the same group’s 2014 report, “Power Forward 2.0: How American Companies Are Setting Clean Energy Targets and Capturing Greater Business Value.

The report shows a spread in target setting among different sectors, with Consumer Staples (72%), Materials (66%), and Utilities (65%) sectors leading in setting clean energy goals and the Energy sector (11%), including oil & gas companies, lagging.

The report includes three key recommendations for companies, policymakers and investors to continue to scale clean energy efforts.

  •  Companies should continue to set, implement and communicate clean energy targets, while supporting local, state and national policies that make it easier to achieve their climate and energy commitments.
  •  Federal and state policymakers should establish clear, long-term low-carbon polices that will help companies meet their clean energy targets while helping the United States meet its carbon-reducing commitments under the Paris Climate Agreement.
  • Investors should consider allocating their investments to companies well-positioned for the low-carbon economy. Investors should continue to file shareholder resolutions and engage in dialogues with companies to encourage them to set climate and energy efficiency targets and position themselves for a low-carbon future.

Featured image : Wind turbines at the National Renewable Energy Lab facility in Golden, Colorado. (Photo courtesy NREL) Public domain

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2016 a Record Year for Renewables, Latest IRENA Data Reveals

2016 a Record Year for Renewables

Solar outpaces wind for new power capacity

Abu Dhabi, UAE, 30 March 2017 — Global renewable energy generation capacity increased by 161 gigawatts (GW) in 2016, making the strongest year ever for new capacity additions, according to data released today by the International Renewable Energy Agency (IRENA). Renewable Energy Capacity Statistics 2017, estimates that by the end of last year the world’s renewable generation capacity reached 2,006 GW, with solar energy showing particularly strong growth.

We are witnessing an energy transformation taking hold around the world, and this is reflected in another year of record breaking additions in new renewable energy capacity,” said IRENA Director-General Adnan Z. Amin. “This growth in deployment emphasizes the increasingly strong business case for renewables which also have multiple socio-economic benefits in terms of fueling economic growth, creating jobs and improving human welfare and the environment. But accelerating this momentum will require additional investment in order to move decisively towards decarbonising the energy sector and meet climate objectives. This new data is an encouraging sign that though there is much yet to do, we are on the right path,” Mr. Amin added.

IRENA’s new data shows that last year’s additions grew the world’s renewable energy capacity by 8.7 per cent, with a record 71 GW of new solar energy leading the growth. 2016 marked the first time since 2013 that solar growth outpaced wind energy, which increased by 51 GW, while hydropower and bioenergy capacities increased 30 GW and 9 GW respectively —the best ever year for growth in bioenergy capacity. Geothermal energy capacity increased by just under 1 GW.

Asia accounted for 58 per cent of new renewable additions in 2016, according to the data, giving it a total of 812 GW or roughly 41 per cent of the global capacity. Asia was also the fastest growing region, with a 13.1 per cent increase in renewable capacity. Africa installed 4.1 GW of new capacity in 2016, twice as much as 2015.

This year’s edition of Renewable Energy Capacity Statistics contains for the first time data specifically for off-grid renewables. IRENA shows that off-grid renewable electricity capacity reached 2,800 megawatts (MW) at the end of 2016. Roughly 40 per cent of off-grid electricity was provided by solar energy and 10 per cent from hydropower. The majority of the remainder came from bioenergy. It is estimated that globally as many as 60 million households, or 300 million people, are served with and benefit from off-grid renewable electricity.

Highlights by technology:

Hydropower: In 2016, about half of new hydro capacity was installed in Brazil and China (14.6 GW in total). Other countries with major hydro expansion (over 1 GW) included: Canada; Ecuador; Ethiopia and India.

Wind energy: Almost three-quarters of new wind energy capacity was installed last year in just four countries: China (+19 GW); USA (+9 GW); Germany (+5 GW); and India (+4 GW). Brazil continued to show strong growth, with an increase of 2 GW in 2016.

Bioenergy: The majority of bioenergy capacity expansion occurred in Asia last year (+5.9 GW) and Asia is fast approaching Europe in terms of its share of global bioenergy capacity (32 per cent compared to 34 per cent in Europe). Europe (+1.3 GW) and South America (+0.9 GW) were the other two regions where bioenergy capacity expanded significantly.

Solar energy: Asia saw the most growth in solar capacity last year, with capacity of 139 GW (+50 GW). Almost half of all new solar capacity was installed in China in 2016 (+34 GW). Other countries with significant expansion included: USA (+11 GW); Japan (+8 GW) and India (+4 GW). Capacity in Europe expanded by 5 GW to reach 104 GW, with most expansion occurring in Germany and the UK.

Geothermal energy: Geothermal power capacity increased by 780 MW in 2016, with expansions in Kenya (+485 MW), Turkey (+150 MW), Indonesia (+95 MW) and Italy (+55 MW).

Renewable Energy Capacity Statistics 2017 offers the most comprehensive, up-to-date and accessible figures on renewable energy capacity statistics. It includes figures from 2000 to 2016, and contains data from more than 200 countries and territories.

Access Renewable Energy Capacity Statistics 2017: Here

About the International Renewable Energy Agency (IRENA) 
IRENA is mandated to be the global hub for renewable energy cooperation and information exchange by 150 Members (149 States and the European Union). 27 additional countries are in the accession process and actively engaged. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.


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Fintech Goes Green

By Sunny Lewis

NAIROBI, Kenya, February 7, 2017 (Maximpact.com News) – A UN-backed app is transforming green finance. At the World Economic Forum in Davos in January, the UN Environment Programme and Ant Financial Services Group, the Chinese online and mobile financial services provider, unveiled the Green Digital Finance Alliance, a joint initiative to stimulate the advancement of digital technologies in green finance.

Erik Solheim, executive director of the Nairobi-based UN Environment agency, formerly UNEP, says the new endeavor will rely on “fintech,” the evolving intersection of financial services and technology.

The Green Digital Finance Alliance is a unique partnership,” said Solheim, “ensuring that we can align tomorrow’s fintech-powered global financial system with sustainable development.

AllianceFounders

At the Green Digital Finance Alliance launch in Davos, Switzerland, from left: Erik Solheim, Under-Secretary General and Head, UN Environment, Doris Leuthard, President, Swiss Confederation, Eric Jing, CEO, Ant Financial Services Group, January 19, 2017 (Photo courtesy Green Digital Finance Alliance) posted for media use

Through market innovation, collaborative action and public awareness, the initiative aims to drive environmental risks, opportunities, incentives and choices into decision-making across the financing value chain.

Ant Financial Services is the first Chinese company to drive a global public-private partnership. Currently, there are 72 million users participating in Ant Financial’s app, called Alipay.

Alipay is a digital financial platform that provides users with a carbon account in addition to their credit and saving accounts.

Ant’s 450 million users can benchmark their carbon footprint and earn “green energy” credits for reducing their footprint, for example, by taking public transit instead of driving.

In addition, Ant Financial has integrated this function into a social media experience, as well as committing to a complementary, tree-planting carbon offset program.

The app is proving to be wildly popular. The number of people that signed up on the day preceding the Green Digital Finance Alliance was nearly the equivalent of the entire population of Switzerland.

Every day tens of millions of users go to their Ant Forest to grow their virtual trees while reducing carbon emissions.

UN General Assembly President Peter Thomson of Fiji told a Davos audience at the launch that his office is organizing a series of events aimed at bringing international discussion of sustainable finance into the United Nations.

Given the trillions of dollars that will be needed to finance the Sustainable Development Goals, initiatives like this are essential to ensuring technological developments contribute to the greening of the global financial system, and to achieving a sustainable future for humanity,” said Thomson.

Innovative partnerships like this, which align UNEP’s cutting-edge research with Ant Financial’s expertise in providing inclusive financial services, are central to global efforts to scale up implementation of the 17 Sustainable Development Goals,” Thomson said.

Thankfully,” he said, “the transformation towards a sustainable financial system is already underway, with many governments, regulators, central banks, institutional investors and private companies starting to align their operations with the principles of sustainability.

Such efforts need to be scaled up. Digital technologies have the potential to accelerate this transformation – particularly for low-income countries, and small and medium enterprises,” he said.

To this end, in April I will be convening an SDG Financing Lab in New York which will examine existing financing mechanisms for the Sustainable Development Goals, and how they can be best applied to each goal.

We are already seeing fintech disrupt traditional practices in the banking, insurance and microcredit sectors, open new markets in energy, agriculture and health, and contribute to enhancing transparency and accountability,” Thomson said.

Ant Financial CEO Eric Jing said, “Ant Financial is a strong believer in green finance. Several of our products and services have been contributing to sustainable development.

Leveraging mobile Internet, cloud computing and big data, we can encourage our hundreds of millions of users to participate in a green lifestyle. We hope that the Green Digital Finance Alliance will contribute to shaping and accelerating this development.

Getting finance at the right price to the right people at the right time will be critical in both securing clean energy access for all and meeting the climate change challenge,” said Rachel Kyte, a former World Bank executive, who is now CEO of the UN Decade for Sustainable Energy for All, Sustainable Energy for All (SE4ALL).

Digital finance can be a powerful tool for unlocking barriers to investment and empowering people to meet the challenge and seize the opportunity of clean, affordable future,” said Kyte. “This Alliance will I hope help to catalyze finance so that we transform lives, create jobs, clean air, provide energy, and restore landscapes at the speed and scale needed.

Swiss President Doris Leuthard said, “This is just the beginning!

The Green Digital Finance Alliance is tentatively scheduled to release its first round of global digital green finance practice reviews at the International Monetary Fund annual meeting in October 2017.

The Ant Forest Program will combine the early tests of UNEP’s carbon emissions measurement and the innovation of carbon abatement incentives and present the results to global alliance members to start interaction.

Ant has been able to encourage hundreds of millions of users to participate in a greener and greener lifestyle using technology such as mobile Internet, cloud computing and big data.

The Ant Financial Services Group, the parent company of the global mobile payment platform Alipay, directs its efforts towards serving small and micro enterprises, as well as consumers.

With the vision of bringing “small and beautiful changes to the world,Jing says Ant Financial is dedicated to “building an open ecosystem of Internet thinking and technologies” while working with other financial institutions to support the future financial needs of society.

Businesses now operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank – and this year, Ant is expanding its network with the acquisition of the the publicly-traded Texas-based company MoneyGram, a global provider of innovative money transfer services.

Valued at approximately US$880 million, the transaction announced January 26 will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations with Ant Financial’s users.

Moneygram will leverage Ant Financial’s global presence and existing network to serve more than 630 million users, including 450 million with Alipay and 180 million with India’s leading mobile payment provider Paytm.

The transaction will help expand Ant Financial’s business in new global markets following its recent partnerships with Paytm in India and Ascend Money in Thailand.

The acquisition of MoneyGram is a significant milestone in our mission to bring inclusive financial services to users around the world,” said Jing. “We believe financial services should be simple, low-cost and accessible to the many, not the few.

The combination of Ant Financial and MoneyGram will provide greater access, security and simplicity for people around the world to remit funds,” said Jing, “especially in major economies such as the United States, China, India, Mexico and the Philippines.

The Green Digital Finance Alliance will be part of all this growth. The Alliance is in the process of establishing a Steering Committee to be co-chaired, at first, by its founders, and will have a secretariat to support its work. In the first instance, UN Environment, based in Nairobi, will act as the secretariat for the Alliance.

Dr. Patrick Njoroge, Governor, Central Bank of Kenya is looking forward to the challenge. “Innovations in financial technologies (fintech) offer the greatest hope for aligning the world’s financial systems with the urgent twin objectives of sustainable development and deepening financial inclusion,” he said. “Further progress requires the close cooperation of all-innovators, regulators, financial institutions.


Featured image: A happy user of the Ant app Alipay (Photo courtesy UNEP) posted for media use

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Abu Dhabi Sustainability Week Glitters in the Sun

AbuDhabiSustainabilityWeek

The International Renewable Energy Agency exhibit at the World Future Energy Summit 2017, a part of Abu Dhabi Sustainability Week, January 16, 2017 (Photo courtesy IRENA) Creative Commons license via Flickr.

By Sunny Lewis

ABU DHABI, United Arab Emirates, January 19, 2017 (Maximpact.com News) – The oil-rich Middle East’s largest gathering on sustainability is happening this week, featuring the rock star business and opinion leaders who are shaping the present and future clean energy world.

An estimated 35,600 people representing 170 countries are attending Abu Dhabi Sustainability Week (ADSW) under sunny skies, including 80 government ministers, 382 exhibiting companies, and more than 200 high-level speakers.

As a global platform for addressing the interconnected challenges of clean energy, water and sustainable development, Abu Dhabi Sustainability Week has developed lasting partnerships with many of the world’s most admired experts and opinion formers on sustainability issues,” said Mohamed Jameel Al Ramahi, chief executive officer of Masdar, Abu Dhabi’s renewable energy company and the host of ADSW.

ADSW 2017 explores the theme “Practical Steps Towards a Sustainable Future” from January 12-21 with presentations, discussions and workshops on clean energy, water and waste.

From the podium, Mexico’s President Enrique Pena Nieto said, “Abu Dhabi Sustainability Week is a testament to the commitment of the United Arab Emirates to sustainable development and a new diversified, low carbon economy. Similar to how Mexico is leading the way as a developing country, the UAE was in fact the first country in the Middle East to set renewable energy targets at a time when there was widespread doubt about renewable energy’s viability and value.

Workshops are considering strategies to drive investment, implementation of the Paris Agreement on climate, and the challenges of adapting existing infrastructure to the new market reality of small-scale, distributed power.

Another critical new market reality was detailed by Michael Liebreich, founder and chairman of the Advisory Board, Bloomberg New Energy Finance, and Board member, Transport for London.

Developing countries are overtaking the wealthiest economies in attracting clean energy investment, with the Middle East & North Africa playing a growing role,” said Liebreich, citing research by Bloomberg New Energy Finance.

The global profile of ADSW is valuable in bringing emerging market opportunities to a wider stage,” he said, “thereby enabling greater cooperation between developed and developing economies.”

All kinds of clean energy investments are being forged in Abu Dhabi this week. “The clean energy sector has moved from the margins into the mainstream as a dynamic, commercially viable growth market,” Al Ramahi said.

The UAE Ministry of Energy, SKM Air-Conditioning and the Masdar Institute Wednesday signed an agreement to develop advanced energy-efficient building chillers specific to the Gulf Cooperation Council region.

If adopted nation-wide, the new efficient chillers could provide the UAE with national energy savings of over 20 percent while lowering life-cycle cooling plant costs. Currently 50 percent of the UAE’s electricity consumption goes towards cooling energy requirements, which can rise to as high as 75 percent during peak-day electricity use in the summer.

On another front, the United Arab Emirates announced a landmark new US$50 million grant fund for renewable energy projects in Caribbean island countries. 

Launched by Reem Al Hashimy, minister of state for international cooperation, the UAE-Caribbean Renewable Energy Fund is one of the largest-ever single investments in the region’s clean energy sector. It represents a significant deepening of bilateral relationships between the UAE and Caribbean countries.

Grant funding is provided by the Abu Dhabi Fund for Development, with the UAE Ministry of Foreign Affairs managing the initiative and Masdar leading implementation.

The announcement, which brings UAE development assistance for renewable energy to almost US$1 billion since 2013, was made on the sidelines of Abu Dhabi Sustainability Week, as part of the annual General Assembly meeting of the International Renewable Energy Agency (IRENA).

AminAbuDhabi

International Renewable Energy Agency Director-General Adnan Z. Amin at the World Future Energy Summit 2017, a part of Abu Dhabi Sustainability Week (Photo courtesy IRENA) Creative Commons license via Flickr.

IRENA Director-General Adnan Z. Amin anticipates great success ahead for renewable energy. “Renewables are gaining ground by nearly every measure,” he said. “Accelerating the pace of the energy transition and expanding its scope beyond the power sector will not only reduce carbon emissions, it will improve lives, create jobs, achieve development goals, and ensure a cleaner and more prosperous future.

Introducing the third and latest annual issue of IRENA’s report, “REthinking Energy,” Amin said that the falling costs of renewable energy, driven by innovations in technology and policy, is behind the rapid spread of renewables and an accompanying host of socioeconomic benefits.

As we advance deeper into a new energy paradigm, we need to pick-up the pace of our decarbonization efforts. Policies and regulations continue to remain crucial to this end and to develop the renewables market,” explained Amin. “We are seeing more and more countries hold auctions to deploy renewables, and as variable and distributed sources of renewables take-on a greater role, regulators have implemented changes to enable grid integration at scale.”

Heating and cooling, and the potential of renewables for transport, are areas where future efforts are needed,” Amin said.

REthinking Energy,” provides insights on the innovations, policy and finance driving further investment in sustainable energy system, finding that:

  • Renewable energy auctions are gaining popularity in both developed and developing countries, generating record-breaking low energy prices;
  • Demand for battery storage is increasing rapidly and playing a larger part in integrating variable renewables;
  • New capital-market instruments are helping increase available finance by offering new groups of investors access to investment opportunities;
  • Institutional investors are moving into renewable energy as it offers stable returns over the long term;
  • New business models promise new ways to finance renewable energy.

Of the clean energy technologies, the report finds that solar photovoltaics will grow the fastest in terms of capacity and output, and new ways to store electricity will be a game changer for growing variable renewable energy generation.

IRENA estimates that battery storage for electricity could increase from less than 1 GW today to 250 GW by 2030.

Cost-effective off-grid renewables already provide electricity to an estimated 90 million people worldwide. “REthinking Energy” describes how off-grid solutions can provide modern energy to hundreds of millions more people to help the world achieve its sustainable development goals.

Achieving universal electricity access by 2030, will require us to boost global power generation – nearly 60 percent of that will have to come from stand-alone and mini-grid solutions,” said Amin. “Meeting this aim with off-grid renewables depends on the right combination of policies, financing, technology and institutional capacity.

At the World Future Energy Summit 2017, a part of Abu Dhabi Sustainability Week that aims to build the business case for renewable energy, India’s solar power industry is showcasing an unprecedented range of investment opportunities, after the Indian government’s announcement of its plans to add an additional 175 GW of renewable energy to the nation’s electricity supply by 2022.

The Indian Ministry of New and Renewable Energy plans to install 100 GW of solar power, including utility-scale and rooftop solar. The remaining capacity will include 60 GW of utility-scale wind energy, 5 GW of small hydro, and 10 GW of bioenergy.

Private sector investors are showing new interest in Saudi Arabia’s solar energy market, after the nation’s leadership included plans to add 9.5 GW of renewables to the energy supply as part of Saudi Vision 2030, a strategy announced last April.

The Vision 2030 strategy sets 9.5 GW as an “initial target” to help build the Saudi renewables sector, noting that energy consumption will triple in the next 14 years. The Saudi government confirms that it aims to achieve that target by 2023, a rapid increase from the nation’s 25 MW of installed renewable energy capacity at the end of 2015.

Saudi Arabia’s plans are supported by a comprehensive restructuring of government departments responsible for energy. Vision 2030 calls for a complete review of the country’s legal and regulatory framework to allow the private sector to buy and invest in the renewable energy sector.

The projects that will flow from Saudi Arabia’s renewable energy plan create a landmark opportunity for technology manufacturers, developers and investors in solar energy, setting out a very real, very achievable ambition,” said Roberto de Diego Arozamena, CEO of Abdul Latif Jameel Energy, the largest GCC-based solar photovoltaic developer and one of the largest in the world.

A highlight of Abu Dhabi Sustainability Week took place on Monday with the awarding of this year’s Zayed Future Energy Prize to nine pioneers in renewable energy and sustainability.

Founded in 2008, the Zayed Future Energy Prize has lit up the world for more than 289 million people through the actions of its international community of winners.

This year’s Zayed Future Energy Prize winners:

Li Junfeng, director general of China’s National Center of Climate Strategy Research, won the Lifetime Achievement award for his commitment to the adoption of renewable energy in China.

General Electric won the Large Corporation award for leadership in the wind and solar energy markets. GE’s wind business alone has commissioned 41.3 GW of total generating capacity and installed more than 30,000 wind turbines to date.

Sonnen, the German smart home and commercial energy storage system manufacturer, was awarded the prize in the Small and Medium Enterprise category for leadership in providing battery storage solutions.

In the Non-Profit Organization category, UK-based Practical Action was recognized for its work in providing deprived communities with clean energy in Africa, Asia and Latin America.

Joining them were the winners in the Global High Schools category, five schools spanning five regions of the globe: Starehe Girls’ Center, Kenya for the Africa region; Green School Bali, Indonesia for the Asia region; Bolivia’s Unidad Educativa Sagrado Corazón 4 for the Americas; Belvedere College in Ireland for Europe; and Huonville High School, Tasmania, Australia for the Oceania region.

Dr. Sultan Ahmed Al Jaber, UAE Minister of State, took great satisfaction in announcing the winners. “The Zayed Future Energy Prize continues to honor the legacy of sustainability advocated by the UAE’s late founding father Sheikh Zayed bin Sultan Al Nahyan,” he said. “With each awards ceremony, the UAE leadership accelerates the pursuit of innovation, reinforces the significance of sustainability at the top of the global agenda, and gives opportunities and far-reaching benefits to communities around the world.

Since the start of the Zayed Future Energy Prize awards, over 25 million people in Africa and Asia have been provided with access to modern, clean energy, off-setting more than one billion tons of carbon emissions, and ensuring that 17 million school age children can study at night using innovative solar-powered utilities.

Chair of the Zayed Future Energy Prize Jury Ólafur Ragnar Grímsson, former president of the Republic of Iceland, said, “Through the sustainable actions of its winners, the Zayed Future Energy Prize is a model example for how far the world has come in the last nine years. It is extraordinary that, through the impact of each winner and the lives they continue to improve, we now see a growing strength in being able to deliver a sustainable future.


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Maximpact’s Tom Holland Founder & CEO was proud to attended the ADSW from Maximpact‘s Masdar City Office.

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Europe’s ‘Clean Energy Revolution’

solarpowertower

Gemasolar was the first commercial-scale plant in the world to apply central tower receiver and molten salt heat storage technology. The molten salt storage tank permits independent electrical generation for up to 15 hours without any solar feed. May 7, 2009, Seville, Spain. (Photo by Markel Redondo / Greenpeace)

By Sunny Lewis

BRUSSELS, Belgium, December 8, 2016 (Maximpact.com News) – To keep the EU competitive as renewables displace fossil fuels, shaking up global energy markets, the European Commission has proposed a new package of measures to “equip all European citizens and businesses with the means to make the most of the clean energy transition.”

The “Clean Energy for All Europeans” legislative proposals are designed to show that, as the Commission said, “the clean energy transition is the growth sector of the future – that’s where the smart money is.”

The measures are aimed at establishing the EU as a leader of the clean energy transition, not just a country that adapts to a renewable energy future as required by the 2015 Paris Agreement on Climate, which more than 100 nations have now formally joined.

In October 2014 the European Council, composed of the heads of state or government of the EU member states, agreed on the 2030 climate and energy policy framework for the EU.

That’s why the EU has committed to cut emissions of the greenhouse gas carbon dioxide (CO2) by at least 40 percent by 2030, less than 15 years away.

Europe is on the brink of a clean energy revolution,” said Commissioner for Climate Action and Energy Miguel Arias Cañete.

And just as we did in Paris, we can only get this right if we work together.

With these proposals, said Cañete, the Commission has cleared the way to a more competitive, modern and cleaner energy system. “Now,” he said, “we count on European Parliament and our Member States to make it a reality.”

If the new proposals become law, EU consumers of the future may have the possibility of producing and selling their own electricity, a better choice of supply, and access to reliable energy price comparison tools.

Increased transparency and better regulation give civil society more opportunities to become more involved in the energy system and respond to price signals.

The package also contains several measures aimed at protecting the most vulnerable consumers.

The EU is consolidating the enabling environment for the transition to a low carbon economy with a range of interacting policies and instruments reflected under the Energy Union Strategy, one of the 10 priorities of the Juncker Commission.

junckerjean-claude

Caption: Commission President Jean-Claude Juncker briefs the European Parliament, Oct. 26, 2016 (Photo © European Union 2016 – European Parliament”) Creative Commons license via Flickr.

In his State of the Union Address to the European Parliament, September 14, President Jean-Claude Juncker emphasized investment.

The €315 billion Investment Plan for Europe, which we agreed just 12 months ago, has already raised €116 billion in investments in its first year of operation. And now we will take it further,” said President Juncker, doubling down on the EU’s future.

We propose to double the duration of the Fund and double its financial capacity to provide a total of at least €500 billion of investments by 2020,” Juncker said.

The Commission has already offered CO2 reduction proposals. In 2015, the executive body proposed to reform the EU Emission Trading System to ensure the energy sector and energy intensive industries deliver the needed emissions reductions.

Last summer, the Commission proposed ways of accelerating the low-carbon transition in other key sectors of the European economy.

Today’s proposals present the key remaining pieces to fully implement the EU’s 2030 climate and energy framework on renewables and energy efficiency.

All the Energy Union related legislative proposals presented by the Commission in 2015 and 2016 need to be addressed as a priority by the European Parliament and Council.

Modernising the EU’s economy is key, said Vice-President for Energy Union Maroš Šefcovic. “Having led the global climate action in recent years,” he said, “Europe is now showing by example by creating the conditions for sustainable jobs, growth and investment.

Clean energies, in total, attracted global investment of over €300 billion in 2015, and the Commission sees opportunity for the EU in the clean energy wave of the near future.

By mobilising up to €177 billion of public and private investment a year from 2021, this package can generate up to one percent increase in GDP over the next decade and create 900,000 new jobs, the Commission said.

The Clean Energy for All Europeans legislative proposals cover energy efficiency, renewable energy, the design of the electricity market, security of electricity supply and governance rules for the Energy Union.

The Commission also proposes a new way forward for Ecodesign, the law that sets minimum mandatory requirements for the energy efficiency of household appliances, information and communication technologies and engineering.

The package includes actions to accelerate clean energy innovation, to renovate Europe’s buildings and a strategy for connected and automated mobility.

Commissioner Cañete said, “I’m particularly proud of the binding 30 percent energy efficiency target, as it will reduce our dependency on energy imports, create jobs and cut more emissions.

Our proposals provide a strong market pull for new technologies,” he said, “set the right conditions for investors, empower consumers, make energy markets work better and help us meet our climate targets.

Links to all documents in the Clean Energy package:


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US$100 Billion to Finance Climate Triage

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Clever Kanga works for the Foundation for Irrigation and Sustainable Development in the central African country of Malawi, working to install solar powered irrigation projects, April 2016. (Photo by Trocaire) Creative Commons license via Flickr.

By Sunny Lewis

WASHINGTON, DC, November 3, 2016 (Maximpact.com) – Finance is always a hot button issue at the UN’s annual climate negotiations, and this year’s 22nd Conference of the Parties to the UN Framework Convention on Climate Change, COP22, will focus even more intently on financing – this time to support the first global greenhouse gas limitation pact, the Paris Agreement on Climate Change.

At COP22 in Marrakech, Morocco, taking place November 7-18, nations are expected to continue strengthening the global response to the threat of climate change, with the central focus placed on enhancing ambition, promoting implementation and providing support, especially financial support.

The process is energized by the unexpectedly rapid entry into force of the Paris Agreement on November 4, just before the opening of COP22.

The Paris Agreement was adopted at the UN climate conference in December 2015. To enter into force, at least 55 Parties accounting for at least 55 percent of global greenhouse gas emissions were required to join the pact, which enters into force 30 days later.

On October 5, those thresholds were reached. Countries joining the Agreement include the biggest and smallest greenhouse gas emitters, as well as the richest and the most vulnerable nations.

The Paris Agreement is clear that all finance flows – both public and private – must become consistent with a low-emission and climate-resilient development path.

Several new studies make clear that meeting the agreement’s central goal of holding temperature rise to well below 2 degrees C (3.6 degrees F), and aiming for 1.5 degrees C (2.7 degrees F), requires quickly shifting investments from fossil fuels and other high-emissions activities towards clean energy, green infrastructure and climate resilience.

In the United States, 2016 is the first year that investment in renewable energy sources has outpaced investment in fossil fuels, said John Morton, director for energy and climate change for the National Security Council, speaking to reporters today on a conference call.

At COP 22 in Marrakech, work to develop the rules that deliver on this goal continues.

Here are five key climate finance issues to watch as outlined by the World Resources Institute, a global research organization that spans more than 50 countries, with offices in Brazil, China, Europe, India, Indonesia, Mexico, and the United States, where it is headquartered in Washington, DC.

1. Pathway to US$100 Billion

In Paris last December, developed countries were asked for a concrete roadmap for mobilizing US$100 billion in climate finance for developing countries by 2020. This roadmap – which can help build trust that developing countries will be supported in taking urgent climate action – is now being finalized, with the aim of presenting it at a “pre-COP” gathering of ministers next week.

In Copenhagen in 2009 and in Cancún in 2010, developed countries committed to jointly raising $100 billion annually from 2020 to 2025 to help developing countries cope with climate change by building low carbon and climate resilient economies. This pledge was re-affirmed in the Paris at COP21.

This sum may come from bilateral or multilateral, public or private sources, including innovative financing, for example, the French contribution to the financial transaction tax.

Public financing may take several forms: multilateral funds such as the Green Climate Fund; multilateral or regional institutions such as the World Bank; government contributions; and bilateral institutions such as the Agence Française de Développement, the French Development Agency.

The $100 billion in funding should not be confused with the Green Climate Fund; only part of this sum will pass through the Fund.

On October 17, developed countries released a Roadmap for how they will mobilize climate finance between now and 2020.

The Roadmap “aims to provide increased predictability and transparency about how the goal will be reached, and sets out the range of actions developed countries will take to meet it.

An analysis of the Roadmap by the Organization for Economic Cooperation and Development (OECD) finds that by 2020, developed countries are expected to have mobilized between $90 billion and 92 billion of climate finance, depending on how effective public finance is in mobilizing private finance.

By comparison, the overall total for mobilized public and private finance in 2014 was $62 billion.

The OECD analysis predicts that the $100 billion goal will be reachable for 2020, due to increased leverage ratios for private finance.

2. What Counts?

Determining progress towards the $100 billion goal is tricky, say WRI analysts, since countries have never agreed on what counts as climate finance.

After considering this issue at climate negotiations earlier this year, countries agreed to hold a workshop in Marrakech to advance progress on the Paris commitment to develop modes for accounting of climate finance.

Consistency in finance reporting will help all countries to accurately track progress on commitments and ensure improved quantity and quality of climate finance flows.

3. Rules for Reporting Finance

Countries will be developing formats for how finance will be reported, based on these reporting mandates:

  • Developed countries must report projected levels of finance they will provide to developing countries and finance they already have provided to developing countries. Other countries providing finance are encouraged to report voluntarily.
  • Developing countries should report on finance needed and received.

These requirements build on earlier rules, but have the potential to be more comprehensive and systematic. Countries need to ensure the reports provide useful information for the global stocktaking process under the Paris Agreement that will assess progress every five years.

4. Scaling Up Adaptation Finance

The Paris Agreement called for a balance between support for adaptation and mitigation, but there remains some way to go.

Adaptation refers to making changes in the way humans respond to changes in climate.

Mitigation refers to controlling emissions of greenhouse gases so that the total accumulation is limited.

Developed countries’ most recent reporting to the UN shows that 14 percent of bilateral funding went to adaptation in 2014. An additional 17 percent went to both adaptation and mitigation.

In Paris, countries called for increasing adaptation finance. A clear commitment for how adaptation funding will be increased up to 2020 would bolster confidence that the most vulnerable countries’ most urgent needs will be supported.

Proposed options include a 50:50 allocation between mitigation and adaptation, a doubling of the current share of adaptation finance and a doubling of the amount of adaptation finance from current levels.

5. Adaptation Fund, Renewed?

One mechanism for channeling adaptation finance to developing countries is the Adaptation Fund, which was created at the 2001 COP in Marrakech, to serve the Kyoto Protocol. With the Kyoto Protocol’s commitment period ending in 2020, the Fund’s future is uncertain.

Countries are considering whether and how the Adaptation Fund can support the Paris Agreement.

The Adaptation Fund has a good niche in supporting relatively small-scale adaptation projects and prioritizing direct access to funding. It can provide money directly to national institutions in developing countries, without going through international intermediaries.

Creating a mandate for the Adaptation Fund to serve the Paris Agreement in Marrakech would give it a new lease on life to continue supporting vital adaptation efforts around the world.

What is Being Done Today?

Financial institutions have already been busy finding and allocating funding to climate projects.

The two operating entities of the UNFCCC Financial Mechanism, the Green Climate Fund (GCF) and the Global Environment Facility (GEF) approved more than two dozen projects in recent meetings.

Water provision in Ali Addeh camp in Djibouti. A combination of high food prices, water scarcity, climate change and reduced pasture has increased food insecurity. This year’s El Niño has led to even dryer weather. Humanitarian funding from the European Commission provides refugees with access to clean water and sanitation as well as shelter, protection, nutrition and health care. May 2016 (Photo by European Commission DG ECHO) Creative Commons license via Flickr.

The GCF Board approved funding proposals for 10 projects, totaling US$745 million, and the GEF Council approved its Work Program, comprising 16 project concepts and three programmatic frameworks, with total resources amounting to US$302 million.

In addition, the Adaptation Fund Board approved two new projects totaling US$7 million,

World Bank Head Calls for Slowing Down Coal Finance

Speaking at the World Bank-International Monetary Fund Annual Meetings 2016 Climate Ministerial meeting in October, World Bank Group President Jim Yong Kim called on ministers to accelerate the transition to low carbon power sources, noting that the Paris Agreement goals cannot be met if current plans for coal-fired stations are implemented.

Kim called for concessional finance that is well targeted and “follows the carbon,” is leveraged and blended to crowd in the private sector, and is available quickly, at scale and easily deployed.


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167 Nations Adopt New Urban Agenda

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Ecuador’s capital, Quito, population 2.1 million, is distinguished by the Cathedral of Quito, first opened in 1567. (Photo by Al Tuttle) Creative Commons license via Flickr

By Sunny Lewis

QUITO, Ecuador, November 1, 2016 (Maximpact.com News) – Habitat III, the United Nations Conference on Housing and Sustainable Urban Development, has wrapped up in Quito, Ecuador, as delegations adopted the New Urban Agenda, a new framework that details how cities should be planned and managed to best achieve sustainability.

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Secretary-General Ban Ki-moon, left, attends the opening of the UN Conference on Housing and Sustainable Urban Development, HABITAT III, with Rafael Correa, President of Ecuador, Oct. 17, 2016. (Photo by Eskinder Debebe / UN) posted for media use.

Up to 70 percent of the world’s population will live in urban areas by 2050, experts project.

 Hosted by the city of Quito from October 17-20, and attended by Ecuador’s President Rafael Correa and UN Secretary-General Ban Ki-moon, the Habitat III conference drew around 36,000 people from 167 countries.

 Habitat III brought together mayors, local and regional authorities, civil society and community groups, the private sector and urban planners.

The New Urban Agenda is contained in the Quito Declaration on Sustainable Cities and Human Settlements for All. It states, “By 2050 the world urban population is expected to nearly double, making urbanization one of the 21st century’s most transformative trends. As the population, economic activities, social and cultural interactions, as well as environmental and humanitarian impacts, are increasingly concentrated in cities, this poses massive sustainability challenges in terms of housing, infrastructure, basic services, food security, health, education, decent jobs, safety, and natural resources…

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Joan Clos, secretary-general of the Habitat III conference and executive director of the UN Human Settlements Programme, UN-Habitat, Oct. 31, 2016 (Photo by Mark Garten / UN) posted for media use.

We have analyzed and discussed the challenges that our cities are facing and have [agreed] on a common roadmap for the 20 years to come,” said Joan Clos, secretary-general of the conference and executive director of the UN Human Settlements Programme, usually called UN-Habitat.

 Clos, who was mayor of Barcelona, Spain from September 1997 to September 2006, said the New Urban Agenda should be seen as an extension of the 2030 Agenda for Sustainable Development, agreed by 193 UN Member States in September 2015.

The Sustainable Development Goals (SDGs) recognize the power of cities and towns to be the engine for sustainable growth in the future, a concept further emphasized in the New Urban Agenda.

The ambitious New Urban Agenda is guided by these interlinked principles:

  • (a) Leave no one behind, by ending poverty in all its forms and dimensions, including the eradication of extreme poverty, by ensuring equal rights and opportunities, socio-economic and cultural diversity, integration in the urban space, enhancing livability, education, food security and nutrition, health and well-being; including by ending the epidemics of AIDS, tuberculosis, and malaria, promoting safety and eliminating discrimination and all forms of violence … and providing equal access for all to physical and social infrastructure and basic services as well as adequate and affordable housing.
  • (b) Sustainable and inclusive urban economies, by leveraging the … benefits of well-planned urbanization, high productivity, competitiveness, and innovation; promoting full and productive employment and decent work for all, ensuring decent job creation and equal access for all to economic and productive resources and opportunities; preventing land speculation; and promoting secure land tenure and managing urban shrinking where appropriate.
  •  (c) Environmental sustainability, by promoting clean energy, sustainable use of land and resources in urban development as well as protecting ecosystems and biodiversity, including adopting healthy lifestyles in harmony with nature; promoting sustainable consumption and production patterns; building urban resilience; reducing disaster risks; and mitigating and adapting to climate change.

On the sidelines of the Habitat III formal discussions, dozens of side events and parallel events brought partners together to debate the more intricate areas of urbanization, such as the right of women and youth to the city, the importance of public space and how to finance the New Urban Agenda.

Among its 175 sections, the New Urban Agenda states, in Section 66, “We commit to adopt a smart city approach, which makes use of opportunities from digitalization, clean energy and technologies, as well as innovative transport technologies, thus providing options for inhabitants to make more environmentally friendly choices and boost sustainable economic growth and enabling cities to improve their service delivery.

 Section 75 states, “We commit to strengthening the sustainable management of resources – including land, water (oceans, seas, and freshwater), energy, materials, forests, and food, with particular attention to the environmentally sound management and minimization of all waste, hazardous chemicals, including air and short-lived climate pollutants, greenhouse gases, and noise – in a way that considers urban-rural linkages and functional supply and value chains vis-à-vis environmental impact and sustainability, and strives to transition to a circular economy, while facilitating ecosystem conservation, regeneration, restoration and resilience in the face of new and emerging challenges.

Above all, Clos said, the New Urban Agenda is, “A commitment that we will all together take the responsibility … [for the] direction of the development of our common urbanizing world.

To further reach out to cities, foster the exchange of best practices and the development of urban strategies, the European Commission has launched a new web portal for cities.

Answering a need expressed by numerous cities, the new portal provides up-to-date information on EU policies such as climate change adaptation, mobility or circular economy that directly impact cities and urban areas.

Urban stakeholders can also get clear information on financing opportunities under the different EU funding instruments and on events related to urban development.

The new portal is intended to help cities to address challenges such as affordable housing, energy efficiency or accessibility, by making the most out of EU funding opportunities.

In addition, the new Urban Data Platform, hosted on the Knowledge Centre for Territorial Policies operated by the Joint Research Centre, provides a single access point to common indicators on the status and trends in over 800 European urban areas – on demography, economic development or access to services.

This database will enable urban authorities and stakeholders to compare data, benchmark and monitor, which is one of the aims of the New Urban Agenda.

European Commission Vice-President for Energy Union Maroš Šefcovic said, “Over 70 percent of the EU’s population lives in urban areas; it is here where the transition to a green economy is being decided.”

Cities play a crucial role in the activation of citizens and consumers and in promoting change by investing in energy-efficient renovation of buildings, making transport more sustainable, raising citizens’ awareness, implementing new technologies, supporting vulnerable consumers and much more. Therefore we are launching instruments which will enable cities to experiment with new ideas and see if they are feasible and useful,” Šefcovic said.

Commissioner for Regional Policy Corina Cretu presented the EU’s Urban Agenda at Habitat III in Quito.

In partnership with UN Habitat, the Commission has released the State of European Cities Report. It supports the New Urban Agenda by assessing the performance of European cities with regards to its priority themes: jobs and skills, fight against poverty, shift towards a low-carbon economy.

At the heart of the EU’s Urban Agenda, 12 partnerships allow cities, Member States, EU Institutions, NGOs and business partners to work together on an equal basis to find common solutions to improve quality of life in European urban areas.

Four pilot partnerships have already started: on the inclusion of migrants, coordinated by the city of Amsterdam; on air quality, coordinated by the Netherlands; on housing, coordinated by Slovakia; and on urban poverty, coordinated by Belgium and France.

By January 2017, four new partnerships will be launched: on circular economy coordinated by Oslo, Norway; on digital transition coordinated by Estonia; Oulu, Finland; and Sofia, Bulgaria; on urban mobility coordinated by the Czech Republic and Karlsruhe, Germany, as well as on jobs and skills coordinated by Romania, Rotterdam, The Netherlands, and Jelgava, Latvia. The Commission will report back to the Council on the partnerships by the end of 2017.

To transform our world, we must transform its cities,” said UN Secretary-General Ban Ki-moon in a statement commemorating World Cities Day, which is observed each October 31 since 2014.

Local action is essential to realizing the potential of these global agreements,” Ban said. “On World Cities Day, let us renew our resolve to confront urban problems and forge lasting solutions. Together, we can show how success in cities inspires change across the world.


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Paris Climate Pact ‘Unstoppable’

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Celebrating the adoption of the Paris Agreement, from left, then UNFCCC Executive Secretary Christiana Figueres, UN Secretary-General Ban Ki-moon, French Foreign Minister Laurent Fabius and President of the UN Climate Change Conference in Paris (COP21), President François Hollande of France, December 12, 2015. (Photo courtesy UNFCCC) posted for media use.

By Sunny Lewis,

NEW YORK, New York, October 6, 2016 (Maximpact.com News) – The Paris Agreement on climate change is set to enter into force on November 4, less than a year after it was adopted by world leaders. With the ratifications deposited Wednesday, enough countries have approved the landmark accord to bring it to the emissions threshold that will trigger its implementation.

 “What once seemed unthinkable, is now unstoppable,” said United Nations Secretary-General Ban Ki-moon as he accepted the latest instruments of ratification that pushed the agreement over the threshold.

Strong international support for the Paris Agreement entering into force is a testament to the urgency for action, and reflects the consensus of governments that robust global cooperation, grounded in national action, is essential to meet the climate challenge,” Ban said.

 Ban, who will step down as secretary-general on December 31, has made adoption of the world’s first global climate agreement a priority of his 10 years as UN leader.

 Over the past decade, Ban has labored to accelerate the global response to climate change. He has visited communities on the climate frontlines, from the Arctic to the Amazon, and has witnessed how climate impacts are already devastating lives, livelihoods and prospects for a better future.

On Wednesday, he reminded world leaders that the work of implementing the agreement still lies ahead, saying, “Now we must move from words to deeds and put Paris into action. We need all hands on deck – every part of society must be mobilized to reduce emissions and help communities adapt to inevitable climate impacts.

Adopted in Paris by the 195 Parties to the UN Framework Convention on Climate Change (UNFCCC) at a conference known as COP21 this past December, the Agreement calls on countries to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low-carbon future, as well as to adapt to the increasing impacts of climate change.

It seeks to limit global temperature rise above pre-industrial levels to well below two degrees Celsius, and to strive for 1.5 degrees Celsius.

The pact was signed in New York on April 22, Earth Day, by 175 countries at the largest, single-day signing ceremony in history.

It will enter into force 30 days after at least 55 countries, accounting for 55 percent of global greenhouse emissions, deposit their instruments of ratification, acceptance or accession with the secretary-general.

The requirements for entry into force were satisfied today when Austria, Bolivia, Canada, France, Germany, Hungary, Malta, Nepal, Portugal and Slovakia, as well as the European Union, deposited their instruments of ratification with the Secretary-General.

Earlier this week, New Zealand and India signed onto the Agreement, following the 31 countries which joined at a special event at the United Nations on September 21 during the UN General Assembly’s general debate.

Early in September, the world’s two largest greenhouse gas emitters, China and the United States, joined the Paris Agreement.

Wednesday in the Rose Garden at the White House, President Barack Obama said, “Today, the world meets the moment. And if we follow through on the commitments that this agreement embodies, history may well judge it as a turning point for our planet.”

Now, the Paris Agreement alone will not solve the climate crisis. Even if we meet every target embodied in the agreement, we’ll only get to part of where we need to go,” said Obama. “But make no mistake, this agreement will help delay or avoid some of the worst consequences of climate change. It will help other nations ratchet down their dangerous carbon emissions over time, and set bolder targets as technology advances, all under a strong system of transparency that allows each nation to evaluate the progress of all other nations.

By sending a signal that this is going to be our future – a clean energy future – it opens up the floodgates for businesses, and scientists, and engineers to unleash high-tech, low-carbon investment and innovation at a scale that we’ve never seen before,” Obama said. “So this gives us the best possible shot to save the one planet we’ve got.

Mindy Lubber, president of the non-profit Ceres, said, “The world must ratchet up global investment in clean energy by an additional $1 trillion a year to achieve the Paris Agreement goals. Global investment in clean energy is currently tracking at about $300 to $350 billion a year, which is far short of the Clean Trillion target we need to hit every year to avoid catastrophic climate warming.”

 Based in Boston, Massachusetts, Ceres mobilizes investor and business leadership to build a sustainable global economy.

We have much more to do to navigate the transition to a sustainable economy, but today represents a major step forward,” Lubber said.

The Paris Agreement will enter into force in time for the Climate Conference (COP 22) in Morocco in November, where countries will convene the first Meeting of the Parties to the Agreement. Countries that have not yet joined may participate as observers.

UNFCCC Executive Secretary Patricia Espinosa said, “Above all, entry into force bodes well for the urgent, accelerated implementation of climate action that is now needed to realize a better, more secure world and to support also the realization of the Sustainable Development Goals.

It also brings a renewed urgency to the many issues governments are advancing to ensure full implementation of the Agreement,” Espinosa said. “This includes development of a rule book to operationalize the agreement and how international cooperation and much bigger flows of finance can speed up and scale up national climate action plans.”

 In Strasbourg, France, European Commissioner for Climate Action and Energy Miguel Arias Cañete said, “Our collective task is to turn our commitments into action on the ground. And here Europe is ahead of the curve. We have the policies and tools to meet our targets, steer the global clean energy transition and modernise our economy. The world is moving and Europe is in a driver’s seat, confident and proud of leading the work to tackle climate change.

Congratulating all of the signatories of the Agreement, the Secretary-General encouraged all countries to accelerate their domestic processes to ratify the Agreement as soon as possible.

 Specifically, the Agreement calls on countries to combat climate change and to accelerate and intensify the actions and investments needed for a sustainable low-carbon future, and to adapt to the increasing impacts of climate change.

It also aims to strengthen the ability of countries to deal with the impacts of climate change. The Agreement calls for appropriate financial flows, a new technology framework and an enhanced capacity-building framework to support action by developing countries and the most vulnerable countries in line with their own national objectives.


Featured Image: Open water in the usually frozen Canadian Arctic, Labrador, February 18, 2015 (Photo by Sterling College) Creative Commons license via Flickr

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Green Firms Outperform Fossil Fuelers 3: 1

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Vestas wind turbines generate power in The Netherlands, December 2015 (Photo by Siebe Schootstra) Creative Commons license via Flickr

By Sunny Lewis

OAKLAND, California, August 23, 2016 (Maximpact.com News) – A 21.82 percent return on investment over the past decade – that’s the proud record of The Carbon Clean 200 – a new list of 200 clean energy companies selected for this inaugural version of the list by the nonprofit groups As You Sow and Corporate Knights.

 The Clean200 ranks the largest publicly listed companies worldwide by their total clean energy revenues as rated by Bloomberg New Energy Finance (BNEF).

 In order to be eligible, a company must have a market capitalization greater than $1 billion, as of June 2016, and earn more than 10 percent of total revenues from clean energy sources.

The Clean200 list is being presented as the inverse of the Carbon Underground 200, a trademarked list of fossil fuel companies being targeted for divestment.

The Carbon Underground 200 generated just a 7.84 percent annualized return over the same past decade.

 “The Clean200 nearly tripled the performance of its fossil fuel reserve-heavy counterpart over the past 10 years, showing that clean energy companies are providing concrete and measurable rewards to investors,” said co-author Toby Heaps, CEO of Corporate Knights, based in Toronto, Canada.

What’s more, the outstanding performance of this list shows that the notion that investors must sacrifice returns when investing in clean energy is outdated,” said Heaps.

Many clean energy investments are profitable now,” he said, “and we anticipate that over the long-term their appeal will only go up as technologies improve and more investors move away from underperforming fossil fuel companies.

The top 10 Clean200 companies are:

  • Vestas, Denmark – wind power
  • Philips Lighting, Netherlands – LED lighting
  • Xinjiang Gold-A, China – wind plants
  • Tesla Motors, United States – electric vehicles
  • Gamesa, Spain – wind turbines
  • First Solar, United States – solar modules
  • GCL-Poly Energy, China  – solar grade polysilicon
  • China Longyuan-H, China – wind farms
  • Kingspan Group, Republic of Ireland – insulation and building envelopes
  • Acuity Brands, United States – LED lights

 Over 70 of the 200 companies on the list do receive a majority of their revenue from clean energy, the listing shows.

Our intention with The Clean200 is to begin a conversation that defines what companies will be part of the clean energy future,” said co-author Andrew Behar, chief executive of As You Sow, headquartered in Oakland.

The Clean200 turns the ‘carbon bubble’ inside out,” said Behar. “The list is far from perfect, but begins to show how it’s possible to accelerate and capitalize on the greatest energy transition since the industrial revolution.

Part of the reason behind the high rate of return appears to lie in China.

 “The 21.82 percent return was due in large part to significant exposure to Chinese clean energy companies which have experienced explosive growth,” said Heaps.

The returns of the Clean200 outside of China were lower, but still superior to the S&P 1200 global benchmark and Carbon Underground 200, he said.

The Clean200 list excludes all oil and gas companies and utilities that generate less than 50 percent of their power from renewable sources, as well as the top 100 coal companies measured by reserves.

 The list also filters out companies profiting from weapons manufacturing, tropical deforestation, the use of child and/or forced labor, and companies that engage in negative climate lobbying.

The performance analysis for each of the three lists is based on a ‘snapshot in time’ analysis of current constituents as the BNEF clean energy revenue exposure database is new and does not go back in time.

 The analysis also introduces a survivorship bias that can be present when stocks which do not currently exist (because they have failed, for example) are excluded from the historical analysis. This bias can result in the overestimation of past returns.

The methodology and list used to develop the Clean200 are in the creative commons and can be downloaded at www.clean200.org.

 As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy and coalition building. www.asyousow.org.

 Corporate Knights calls itself  “The Magazine for Clean Capitalism,” and says it “seeks to provide information that empowers people to harness markets for a better world.” www.corporateknights.com

 The groups disclaim responsibility for any unprofitable investments that might be made by their readers.

 “As You Sow and Corporate Knights are not investment advisors nor do we provide financial planning, legal or tax advice,” they state. “Nothing in the Carbon Clean 200 Report shall constitute or be construed as an offering of financial instruments or as investment advice or investment recommendations.


Featured image: Safer, cooler, sturdier and longer-lasting than other lighting, LED lights are used for a road sign (Photo by Washington State Dept. of Transportation) Creative Commons license via Flickr

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Wood Pulp Waste Transformed Into Biocrude Oil

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The Licella Catalytic Hydrothermal Reactor (Cat-HTR™) at Somersby, NEw South Wales, Australia (Photo courtesy Licella)

By Sunny Lewis

 VANCOUVER, British Columbia, Canada, June 28, 2016 (Maximpact.com News) – Canfor Pulp Products Inc. has formed a joint venture with an Australian energy startup to convert biomass from its kraft pulping processes into biocrude oil that can be blended into petrochemical refinery streams to generate renewable fuels.

Publicly traded on the Toronto Stock Exchange, Vancouver-based Canfor Pulp is the largest North American producer of Northern bleached softwood kraft, used for manufacturing printing and writing paper and tissue products.

Based in Sydney, Australia, the startup Licella has developed the unique process in partnership with the University of Sydney. Their Catalytic Hydrothermal Reactor (Cat-HTR™) technology converts low-cost, non-edible, waste biomass from pulping into biocrude oil.

The biocrude can then be used to produce next generation biofuels and biochemicals.

The ITQ laboratory in Valencia, Spain has demonstrated the upgrade of Licella’s biocrude to kerosene and diesel utilizing standard refinery infrastructure.

CanFor President Brett Robinson says Licella’s Cat-HTR™ technology could transform their company. “The opportunity to directly produce advanced biofuels from our existing streams could transition Canfor Pulp from being strictly a pulp and paper manufacturer to a bio-energy producer as well,” he said.

Currently, pulp and paper waste is burned for low-quality process heat. But now Licella’s Cat-HTR technology can theoretically process any form of lignocellulosic biomass, without the need to dry the feedstock before processing nor transport it over long distances at great expense.

 Sugars derived from lignocellulosic biomass already have been fermented to produce bio-ethanol, and other lignocellulose-derived fuels are of potential interest, including butanol, but the unique Licella process is not based on fermentation.

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Biomass waste from the pulpmaking process at a Canfor pulp mill in Prince George, British Columbia. (Photo courtesy Licella)

Licella’s process uses a supercritical water-based technology and catalysts to break up the pulp waste biomass and reform it into biocrude. It uses all of the biomass, including lignin and provides all its own process heat and water. Uniquely, it is a net producer of water.

The Licella process produces a stable, blendable bio-oil that is expected to be competitive with petroleum fuel.

The Licella process has a small physical footprint compared to fermentation technologies because of its continuous flow design and a rapid processing time measured in minutes, not days.

Licella was co-founded by University of Sydney chemistry professor Dr. Thomas Maschmeyer, who saw a way to make use of the millions of tons of biomass waste left from the pulping process each year around the globe.

“Only 30 percent or so of a tree becomes paper, the rest is waste. We use this waste to make a new product – biocrude oil from renewable, already aggregated waste,” Maschmeyer explained.

Over the past nine years Licella has invested A$60 million in its technology development. “After nine years of very hard work by an amazing team of individuals at Licella and the university, it is extremely pleasing to see this Australian green technology going global; it will make a substantial impact,” Maschmeyer said.

“In the pulp and paper industry worth billions of dollars, this shift will have global impact for good,” he said.

Licella CEO Dr. Len Humphreys said, “Licella’s Cat-HTR technology may add significant value to Canfor Pulp’s kraft process by creating new products from Canfor Pulp’s waste streams. What we are potentially building towards is a bio-refinery to utilize the entire tree, rather than part of the tree.”

“Using the whole tree and not just a minor part will move the industry towards biorefining,” said Humphreys.

The Cat-HTR™ upgrading platform will be integrated into Canfor Pulp’s kraft and mechanical pulp mills in Prince George, British Columbia.

Licella is a subsidiary of Licella Pty. Limited, which in turn is a subsidiary of Ignite Energy Resources Ltd., an Australian public unlisted natural resource and energy technology development company.

In late May, Licella Fibre Fuels Pty Ltd. and the publicly-traded Canfor Pulp Products Inc. signed an agreement to form a joint venture under the name Licella Pulp Joint Venture.

The agreement follows a successful program of preliminary trials conducted on feedstock from Canfor Pulp’s Prince George pulp mill at Licella’s pilot plants located at Somersby, an hour north of Sydney in New South Wales, Australia.

In these trials, wood residue streams from Canfor Pulp’s kraft process were successfully converted into a stable biocrude oil.

CPPI chief executive Don Kayne said, “Biofuels and biochemicals represent the next frontier in the utilization of sustainable wood fibre to produce green energy and chemicals.”

“This initiative underscores Canfor Pulp’s commitment to innovation and the importance of green energy and chemicals in our future product mix, and we look forward to developing this potentially transforming technology with Licella,” he said.

Upon successful integration of the Cat-HTR™ technology, the Licella Pulp joint venture will look at offering this technology to other third party pulp mills.


Solar-Powered Lights Flick On Across Nigeria

LumosSolarAfrica

By Sunny Lewis

WASHINGTON, DC, November 4, 2015 (Maximpact News) – The U.S. government’s development finance institution, the Overseas Private Investment Corporation (OPIC), has signed a US$15 million commitment to finance a business that provides solar electricity to homes and small business throughout Nigeria.

The off-grid electricity provider is Txtlight Power Solutions, Ltd. doing business as Nova-Lumos, and the signing took place on October 21 as part of Secretary of State John Kerry’s Climate and Clean Energy Investment Forum.

“Lumos brings vision, innovation, and sound business sense to address the power access challenge in Africa,” said Elizabeth Littlefield, OPIC’s president and chief executive.

“With a dedication to those who live off-grid or have unreliable power access,” she said, “Lumos’ creative business model will positively impact millions with new affordable electricity access in homes, businesses, medical facilities, and schools.”

This is the largest OPIC investment in Africa’s off-grid power sector, a key component of increasing energy access in a region where people are not grid-connected and the need for reliable power is especially acute.

Based in Amsterdam, the Netherlands, Nova-Lumos is the world’s first distributed utility provider, bringing affordable, modern and clean electricity to communities that have been living off the grid.

With this OPIC financing, Lumos will be able to increase power access to the nearly 90 million Nigerians who currently live without any connection to the electric grid.

Lumos connects the mobile payment revolution and solar energy. Through partnerships with mobile operators, Lumos provides electricity on a lease to own basis, purchased by mobile phone.

Lumos customers replace kerosene and candles with solar-powered electricity that can allows them to turn on lights, cellphones, fans, computers and TVs – all at once.

Lumos offers a patented, self-deployable mobile energy system, with integrated cellular payment and advanced security mechanisms. The service includes a home solar panel linked to an indoor storage and connection unit.

And it’s affordable. Lumos customers utilize a “pay-as-you-go” model, buying power in small amounts, by text message.

One the corporate level, it’s the $15 million in funding from OPIC that makes it possible for Lumos customers to make small, affordable payments.

David Vortman, Lumos chief executive and co-founder, said, “We are very excited about this major financing milestone in partnership with OPIC, which will enable us to accelerate our growth in Nigeria and improve the lives of millions.”

“Having the backing of an institution such as OPIC provides a vote of confidence in Lumos’ innovative core technology and our unique business model that drives most of our value as a company,” Vortman said.

Lumos’ business model is scalable in large part due to the company’s partnerships with mobile communications operators.

In Nigeria, Lumos has partnered with MTN, Nigeria largest telecommunications company with a subscriber base of over 60 million people.

Lumos was also a recipient of early-stage catalytic funding through OPIC and the Africa Clean Energy Finance initiative. This partnership with the U.S. State Department provided start-up capital for 30 innovative clean energy projects across 10 African countries.

Lumos recently became an official private sector partner of President Barack Obama’s Power Africa initiative, a partnership among more than 100 public and private sector partners to bring new power access to the more than 600 million Sub-Saharan Africans that currently live without electricity.

As a key part of Power Africa, OPIC financing allows private companies like Lumos to scale up business models and broadly increase new power access across Africa.

Vortman and other Lumos executives believe the Nigerian project is just the beginning of the company’s relationship with OPIC as it grows in Nigeria and elsewhere across the developing world.

OPIC declares that all its projects “adhere to high environmental and social standards and respect human rights, including worker’s rights.”

By mandating high standards, OPIC says it helps to raise the industry and regional standards of the more than 160 countries in which its projects operate.

NigerianGirlLumos

A young girl in Nigeria is able to do her homework after dark with the help of a solar light powered by Lumos, an OPIC partner that provides off-grid solar solutions to remote communities.

(Photo courtesy OPIC)
Featured image: Nigerian man installs a Lumos solar system. Customers will pay by cellphone as they consume the power. (Photo courtesy Nova-Lumos)

Award-winning journalist Sunny Lewis is founding editor in chief of the Environment News Service (ENS), the original daily wire service of the environment, publishing since 1990.

Aligning Institutional Investment With Sustainable Development

By Sunny Lewis

NEW YORK, New York, September 22, 2015 (Maximpact News) – The largest public pension fund in the United States, the California Public Employees’ Retirement System (CalPERS), with upwards of US$300 billion in assets, takes sustainability seriously.

Just days ahead of a United Nations summit in New York that will adopt new Sustainable Development Goals to guide international efforts through 2030, CalPERS has joined the UN Environment Programme (UNEP) in issuing a report that calls on regulators to build a new culture of sustainable investing.

Entitled “Financial Reform, Institutional Investors and Sustainable Development: A review of current policy initiatives and proposals for further progress,” the report calls for proactive policies putting sustainability at the core of new institutional investment frameworks.

Henry Jones, who chairs the CalPERS Investment Committee, said, “At CalPERS we have no doubt that our focus on sustainability is entirely consistent with our fiduciary duty – indeed it is an essential part of it.”

JonesHenryHenry Jones heads CalPERS Investment Committee (Photo courtesy CalPERS)

“Where doubts on this score remain, they must be dispelled,” Jones said. “And we need institutions that have the knowledge, the skills and the ways of working that are required to embed sustainability in their investments – to manage the risks it brings, and to capitalize upon the opportunities it offers.”

In his forward to the report, Jones writes, “Of all the sustainability challenges we face, climate change is one of the most pressing.”

“This report is being published just a few weeks before the Paris Climate Change Conference. At CalPERS, we earnestly hope the world’s governments will reach an ambitious global agreement to address climate change. Bold action is needed in particular to introduce stable, reliable and economically meaningful carbon pricing, and to strengthen regulatory support for clean energy. This will enable us, as investors, to manage the risks and take the opportunities that climate change brings. We hope every country will reflect on how it can best address these challenges,” Jones wrote.

The report’s author, Rob Lake, is a UK-based independent responsible investment advisor and expert, working with asset owners.

With an estimated annual financing gap of up to US$7 trillion a year in infrastructure investments alone, the global financial system, worth more than US$300 trillion, has a potential to transform the international economic landscape to better serve the needs of humanity, Lake’s report concludes.

The report had its genesis in the Inquiry into the Design of a Sustainable Financial System initiated by UNEP in January 2014 to advance policy options that could improve the financial system’s effectiveness in mobilizing capital towards a green and inclusive economy.

Nick Robins, who serves as co-director of UNEP Inquiry, said, “A package of measures is needed to deliver the full sustainability potential of institutional investors. Disclosure is important, but without effective governance frameworks and incentives, this will not drive sufficient change.”

The report shows that policy intervention has evolved from focusing on disclosure obligations and statements about investors’ core legal duties to a “second generation” approach that addresses the synergy between sustainability and other policy objectives.

CalPERSbuildingSolar panels on the roof of CalPERS’ Sacramento, California headquarters generate some of the electricity that powers the building. (Photo courtesy CalPERS) – Building for the Future, Protecting the Environment.

Seven critical policy objectives that hold the strongest potential for positive change are explored in the report together with 14 policy tools to achieve them.

The seven policy objectives are:

  1.  Aligning Institutional Investment System Design with Sustainability
  2.  Removing Policy Barriers
  3.  Stimulating Demand for Investment that Integrates Sustainability
  4.  Strengthening Asset Owner Governance and Capabilities
  5.  Lengthening Investment Horizons
  6.  Aligning Incentives along the Investment Chain
  7.  Ensuring Investor Accountability

The 14 policy tools are:

  1.  The Design of Pension Systems Investment
  2.  Performance Measurement
  3.  The Legal Duties of Investment Institutions
  4.  The Legal Duties of the Directors of Risk-Taking Financial Institutions
  5.  Solvency and Risk Regulations
  6.  Prudential Regulation
  7.  Investor Disclosure Rules
  8.  Corporate Disclosure Rules
  9.  Fiscal Incentives
  10.  Rules on Equity and Credit Research
  11.  Investor Rights, Codes and Stewardship
  12.  Risk Mitigation and Market Development for Green Assets
  13.  Soft Law Sustainability Frameworks
  14.  Professional Qualifications and Knowledge Transfer

The report concludes, “Enormous potential exists to pursue new policy initiatives designed to achieve sustainability goals through the institutional investment chain while simultaneously strengthening other public policy objectives: better governed asset owner institutions that serve their beneficiaries more effectively, enhanced prudential regulation, increased economic welfare meeting energy, water and food needs, and restored public trust in the financial system.”


 

Award-winning journalist Sunny Lewis is founding editor in chief of the Environment News Service (ENS), the original daily wire service of the environment, publishing since 1990.