Tag Archives: Emissions reductions

Investor heavyweights call for clear action on climate

As a major UN climate summit gets under way in New York today, some of the world’s leading institutional investors demand clearer policies on climate change and the phasing out of fossil fuel subsidies. LONDON, 23 September, 2014 − Many of the biggest hitters in the global financial community, together managing an eye-watering $24 trillion of investment funds, have issued a powerful warning to political leaders about the risks of failing to establish clear policy on reducing greenhouse gas emissions. More than 340 investment concerns − ranging from Scandinavian pensions funds to institutional investors in Asia, Australia, South Africa and the US − have put their signatures to what they describe as global investors’ most comprehensive statement yet on climate change. In particular, the investors call on government leaders to provide a “stable, reliable and economically meaningful carbon policy”, and to develop plans to phase out subsidies on fossil fuels. They warn: “Gaps, weaknesses and delays in climate change and clean energy policies will increase the risks to our investments as a result of the physical impacts of climate change, and will increase the likelihood that more radical policy measures will be required to reduce greenhouse gas emissions.

Ambitious policies

“Stronger political leadership and more ambitious policies are needed in order for us to scale up our investments.” Attempts to establish carbon pricing systems capable of making an impact on climate change have so far ended in failure, while oil and gas companies continue to battle against stopping fossil fuel subsidies. The investors’ move has been welcomed by the United Nations. Achim Steiner, head of the UN Environment Programme, said: “Investors are owners of large segments of the global economy, as well as custodians of citizens’ savings around the world. Having such a critical mass of them demand a transition to the low-carbon and green economy is exactly the signal governments need in order to move to ambitious action quickly. “What is needed is an unprecedented re-channelling of investment from today´s economy into the low-carbon economy of tomorrow.” The investors’ statement comes amid growing concern in the finance sector about the economic consequences of a warming world. Last week, a commission composed of leading economists and senior political figures said the transition to a low-carbon economy was vital in order to ensure continued global economic growth.

Stranded assets

Other groups say investors who continue to put their money into fossil fuels are taking considerable risks. As governments and regulators face up to the enormity of climate change and place more restrictions on fossil fuels, such investments could become what are termed “stranded assets”. There are also signs of a surge in low-carbon technologies, particularly in the renewable energy sector. Last week, Lazard, the asset management firm, reported that a decline in cost and increased efficiency means large wind and solar installations in the US can now, without subsidies, be cost competitive with gas-fired power. There is also increased activity on the carbon pricing front. China, the world’s biggest emitter of greenhouse gases, recently announced it would establish a countrywide emissions trading system by 2016. If implemented, the China carbon trading system will be the world’s biggest. The country already runs seven regional carbon trading schemes. – Climate News Network

As a major UN climate summit gets under way in New York today, some of the world’s leading institutional investors demand clearer policies on climate change and the phasing out of fossil fuel subsidies. LONDON, 23 September, 2014 − Many of the biggest hitters in the global financial community, together managing an eye-watering $24 trillion of investment funds, have issued a powerful warning to political leaders about the risks of failing to establish clear policy on reducing greenhouse gas emissions. More than 340 investment concerns − ranging from Scandinavian pensions funds to institutional investors in Asia, Australia, South Africa and the US − have put their signatures to what they describe as global investors’ most comprehensive statement yet on climate change. In particular, the investors call on government leaders to provide a “stable, reliable and economically meaningful carbon policy”, and to develop plans to phase out subsidies on fossil fuels. They warn: “Gaps, weaknesses and delays in climate change and clean energy policies will increase the risks to our investments as a result of the physical impacts of climate change, and will increase the likelihood that more radical policy measures will be required to reduce greenhouse gas emissions.

Ambitious policies

“Stronger political leadership and more ambitious policies are needed in order for us to scale up our investments.” Attempts to establish carbon pricing systems capable of making an impact on climate change have so far ended in failure, while oil and gas companies continue to battle against stopping fossil fuel subsidies. The investors’ move has been welcomed by the United Nations. Achim Steiner, head of the UN Environment Programme, said: “Investors are owners of large segments of the global economy, as well as custodians of citizens’ savings around the world. Having such a critical mass of them demand a transition to the low-carbon and green economy is exactly the signal governments need in order to move to ambitious action quickly. “What is needed is an unprecedented re-channelling of investment from today´s economy into the low-carbon economy of tomorrow.” The investors’ statement comes amid growing concern in the finance sector about the economic consequences of a warming world. Last week, a commission composed of leading economists and senior political figures said the transition to a low-carbon economy was vital in order to ensure continued global economic growth.

Stranded assets

Other groups say investors who continue to put their money into fossil fuels are taking considerable risks. As governments and regulators face up to the enormity of climate change and place more restrictions on fossil fuels, such investments could become what are termed “stranded assets”. There are also signs of a surge in low-carbon technologies, particularly in the renewable energy sector. Last week, Lazard, the asset management firm, reported that a decline in cost and increased efficiency means large wind and solar installations in the US can now, without subsidies, be cost competitive with gas-fired power. There is also increased activity on the carbon pricing front. China, the world’s biggest emitter of greenhouse gases, recently announced it would establish a countrywide emissions trading system by 2016. If implemented, the China carbon trading system will be the world’s biggest. The country already runs seven regional carbon trading schemes. – Climate News Network

Nepal wins hearts and minds with biogas boom

Villagers in Nepal are increasingly being persuaded that small biogas installations using human waste to provide fuel are not only desirable but are also helping to reduce deforestation of the Himalayas and carbon emissions. KATHMANDU, 2 July, 2014 − Sunita Bote, a 30-year-old housewife from the small village of Kumroj in eastern Nepal, was far from convinced when energy specialists from the capital city, Kathmandu, talked about the benefits of constructing a small biogas plant near her house. “At first, I shuddered at the thought of connecting my cooking stove with a toilet’s septic tank,” Sunita recalls. But she was eventually persuaded – and now realises the multiple benefits of the biogas system. The plant not only produces enough energy for cooking for her family of seven, it also gets rid of both human and animal waste. “It is no longer seems disgusting to me,” Sunita says. “Instead, it has eased my household chores.” Most of Sunita’s neighbours feel the same way, and Kumroj has now been named by the government as Nepal’s first model biogas village, with more than 80% of households having their own biogas installations.

Frequent blackouts

Nepal, a landlocked country of just over 26 million people, has big energy problems. Its cities and towns, reliant on imported fossil fuels for energy, suffer frequent electricity blackouts due to ageing infrastructure and shortages of funds. With its mountain ranges and many rivers, there is great potential for hydropower, but tight budgets mean there has as yet been little investment in these big, capital-intensive projects. However, the energy outlook is slowly changing. Instead of building big hydropower plants, local groups − helped by NGOs and outside funders − are constructing micro hydro projects all over the country. So far, more than 1,000 such plants have been built. There has also been investment in developing solar power. Meanwhile, thousands of biogas projects are being put in place in backyards and fields throughout the country.

Fuel needs

According to the Alternative Energy Promotion Centre (AEPC), a government agency responsible for promoting renewable energy, there are now more than 300,000 biogas plants providing for the fuel needs of nearly 6% of Nepal’s households. “At first, people were wary about getting energy from their toilet septic tanks,” says Professor Govinda Pokharel, vice-chairman of the government’s National Planning Commission and, until recently, a director of AEPC.

“In some cases, those who installed biogas plants were even ostracised by their neighbours”

“It was human faeces that caused the trouble. People, especially those who were not educated and were living in remote villages, were against the idea of using their faeces for cooking food. In some cases, those who installed biogas plants were even ostracised by their neighbours. But attitudes have changed. When animal dung is mixed with human faeces, greater power is generated.” Traditionally, wood has been the main source of fuel for cooking and heating. But deforestation – with the resulting landslides and floods – has been a big problem.

Trees saved

The Biogas Sector Programme, a Kathmandu-based organisation that promotes the use of biogas, says every biogas plant can save 1.25 trees each year, That means that, due to biogas, nearly 400,000 trees a year throughout the country are saved from being chopped down. Biogas not only replaces wood for fuel, it can also help reduce carbon emissions. The UN Framework Convention on Climate Change (UNFCCC) calculates that a standard biogas plant saves greenhouse gas emissions of between three and five tons each year, compared with other energy sources such as wood. The AEPC says that Nepal, through the use of biogas and by not cutting tree cover, is helping to reduce the country’s overall emissions by more than one million tons a year. “It may not be a huge contribution at the global level, but it is not negligible either,” Prof Pokharel says. There are plans to install at least 26,000 biogas plants around the country each year. “The more we install, the more we save trees,” Prof Pokharel says, “And the saving of each tree is important in combating climate change.” – Climate News Network

 

• Om Astha Rai is a reporter with Nepalese national newspaper, Republica Daily. Follow him on Twitter @ https://twitter.com/omastharai

Villagers in Nepal are increasingly being persuaded that small biogas installations using human waste to provide fuel are not only desirable but are also helping to reduce deforestation of the Himalayas and carbon emissions. KATHMANDU, 2 July, 2014 − Sunita Bote, a 30-year-old housewife from the small village of Kumroj in eastern Nepal, was far from convinced when energy specialists from the capital city, Kathmandu, talked about the benefits of constructing a small biogas plant near her house. “At first, I shuddered at the thought of connecting my cooking stove with a toilet’s septic tank,” Sunita recalls. But she was eventually persuaded – and now realises the multiple benefits of the biogas system. The plant not only produces enough energy for cooking for her family of seven, it also gets rid of both human and animal waste. “It is no longer seems disgusting to me,” Sunita says. “Instead, it has eased my household chores.” Most of Sunita’s neighbours feel the same way, and Kumroj has now been named by the government as Nepal’s first model biogas village, with more than 80% of households having their own biogas installations.

Frequent blackouts

Nepal, a landlocked country of just over 26 million people, has big energy problems. Its cities and towns, reliant on imported fossil fuels for energy, suffer frequent electricity blackouts due to ageing infrastructure and shortages of funds. With its mountain ranges and many rivers, there is great potential for hydropower, but tight budgets mean there has as yet been little investment in these big, capital-intensive projects. However, the energy outlook is slowly changing. Instead of building big hydropower plants, local groups − helped by NGOs and outside funders − are constructing micro hydro projects all over the country. So far, more than 1,000 such plants have been built. There has also been investment in developing solar power. Meanwhile, thousands of biogas projects are being put in place in backyards and fields throughout the country.

Fuel needs

According to the Alternative Energy Promotion Centre (AEPC), a government agency responsible for promoting renewable energy, there are now more than 300,000 biogas plants providing for the fuel needs of nearly 6% of Nepal’s households. “At first, people were wary about getting energy from their toilet septic tanks,” says Professor Govinda Pokharel, vice-chairman of the government’s National Planning Commission and, until recently, a director of AEPC.

“In some cases, those who installed biogas plants were even ostracised by their neighbours”

“It was human faeces that caused the trouble. People, especially those who were not educated and were living in remote villages, were against the idea of using their faeces for cooking food. In some cases, those who installed biogas plants were even ostracised by their neighbours. But attitudes have changed. When animal dung is mixed with human faeces, greater power is generated.” Traditionally, wood has been the main source of fuel for cooking and heating. But deforestation – with the resulting landslides and floods – has been a big problem.

Trees saved

The Biogas Sector Programme, a Kathmandu-based organisation that promotes the use of biogas, says every biogas plant can save 1.25 trees each year, That means that, due to biogas, nearly 400,000 trees a year throughout the country are saved from being chopped down. Biogas not only replaces wood for fuel, it can also help reduce carbon emissions. The UN Framework Convention on Climate Change (UNFCCC) calculates that a standard biogas plant saves greenhouse gas emissions of between three and five tons each year, compared with other energy sources such as wood. The AEPC says that Nepal, through the use of biogas and by not cutting tree cover, is helping to reduce the country’s overall emissions by more than one million tons a year. “It may not be a huge contribution at the global level, but it is not negligible either,” Prof Pokharel says. There are plans to install at least 26,000 biogas plants around the country each year. “The more we install, the more we save trees,” Prof Pokharel says, “And the saving of each tree is important in combating climate change.” – Climate News Network

 

• Om Astha Rai is a reporter with Nepalese national newspaper, Republica Daily. Follow him on Twitter @ https://twitter.com/omastharai