Articles
Oil Companies Post Record Profits in 2022 Amid Global Energy Crisis
Oil majors had some of their highest profits ever during the second quarter of 2022 causing global outrage as inflation rates rise, the war in Ukraine continues and natural disasters causing devastation. The actions of energy giants can be connected to these global issues by causing or profiting from them.
COP27 Egypt and the Outlook For Natural Gas in Asia
COP27 has shown that while gas won't be going away soon, its faith is already determined. And Asian countries should be aware of that.
High Energy Prices Wreak Havoc on Sri Lankan, Bangladeshi and Pakistani Economies
Before Russia’s invasion of neighbouring Ukraine, Sri Lanka, Bangladesh and Pakistan had set their hopes on LNG to diversify their respective power generation mixes away from an overreliance on coal. However, record high LNG prices in the Asia-Pacific region, for both spot procurement and LNG indexed to crude oil, have wreaked havoc on these countries.
COP27: The Cost of Failing To Meet the Paris Agreement
Climate finance is one of the focal points of CO27, and it has historically been a challenging topic to make progress on. However, agreeing on funding, particularly for developing countries, is crucial for the world to align with the Paris Agreement target of staying below 1.5 degrees of warming. The world is already feeling the economic and social impacts of climate change, which will only increase with rising temperatures.
Global Inflation 2022: The Culprit – Fossil Fuel Prices
Aside from taking a toll on the climate and the environment, fossil fuels are also bearing massive financial and economic risks, including stranded infrastructure, cascading inflation and unstable energy supplies.
Is Renewable Energy Cheaper?
The price of developing solar and wind power projects have reached cost parity with their fossil fuel power plant competitors, and in many cases renewables are now much cheaper.
Climate Action 100+ Net-Zero Company Benchmark: Sufficient Progress But a Lack of Real Action
While companies have shown significant progress in terms of net-zero commitments, experts say they still fall short of achieving actual results.
Climate Finance at COP27: All Talk and Lack of Action
Climate finance for loss and damage, adaptation and mitigation is a central discussion at COP27. Developing nations continue to call for more financing, and developed nations are yet to make substantial pledges. However, some proposals, like the Bridgetown Agenda, appear to be gaining support.
South Africa’s ‘Just Energy Transition Partnership’: Lessons For Asian Countries
The South African JETP marks a groundbreaking moment for global energy financing. It has set the stage for a new climate-progress model that can unite developed and developing countries, as well as public and private financiers, on the path towards a just energy transition.
Renewable Energy Progress of Microsoft, Google and Apple
The tech sector should be at the forefront of the battle against climate change. Yet, only a handful of companies are doing enough. Currently, all except Apple are neglecting their supply chain emissions.
COP27 Finance Day: Expectations and Outcomes
COP27's Finance Day didn't exactly provide many reasons for excitement. It ended with more promises than actual progress, showing a lack of solidarity with vulnerable nations, especially from the world's biggest polluters.
Climate Change Hypocrisy at COP27
Climate Action Tracker analysis shows that 70% of gas projects – under construction, approved or proposed – are in North America. The US is also falling $32bn short of its ‘fair share’ of the $100bn target, says Carbon Brief. Still, expect Biden to major on his $370bn IRA climate deal. The big question ahead of his bilateral with Xi Jinping on 14 Nov is will the US-China climate talks escape the deep-freeze?
COP27: Nine New Countries Sign Up for Global Offshore Wind Alliance at Sharm-El-Sheikh
At the COP27 in Sharm El-Sheikh, nine new countries, including Belgium, Colombia, Germany, Ireland, Japan, the Netherlands, Norway, the UK, and the US, join The Global Offshore Wind Alliance (GOWA), pledging to a rapid ramp up of offshore wind to tackle the climate and energy security crises. The global alliance will play a major role in transforming targets into action, closing the renewable energy implementation gap while tackling economic, energy security and climate challenges.
COP27 Finance Day: It Disappoints as Pledges Hard to Come By
Pledges at Finance Day of COP27 remained thin on the ground with a lack of collective spirit between countries. Also underwhelming was the joint update on the Paris alignment by MDBs, which lacked any mention of fossil fuel phase-out.
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