Renewable energy supply to double in major economies by 2030
Renewable energy supply in eight major economies will collectively more than double by 2030 due to new national climate and energy plans, according to a study by the think tank World Resources Institute (WRI). Total clean energy supply from eight of the world’s 10 largest greenhouse gas emitters – Brazil, China, the European Union, India, Indonesia, Japan, Mexico and the United States – will jump to 20,000 TWh from around 9,000 TWh in 2009. “It’s clear that renewable energy is poised to surge forward in the next 15 years bringing clean and affordable power to millions of people worldwide,” said Jennifer Morgan, Global Director, Climate Program, WRI. The eight economies are among many that have announced new renewables targets in the past 12 months ahead of the United Nations’ climate conference in Paris. Canada and Russia, which are also among the world’s top 10 emitting countries, were not included in the study because they have not announced post-2020 renewable energy targets. (Reuters)
Greenpeace wants to buy one of Europe’s largest coal mines to shut it down
Environmental group Greenpeace wants to buy Vattenfall, a Swedish government-owned energy conglomerate and one of Europe’s largest coal mines, and gradually shut it down. If successful, Greenpeace would actually be in the strange position of operating coal facilities until as long as 2030, the deadline it would set for shutting down operations and phasing in renewable sources of power. In line with Sweden’s own goal to become the world’s first fossil fuel-free nation, Vattenfall is pushing to transform its energy portfolio to lower CO₂-emitting sources and increase renewables. Greenpeace has already received a flat-out rejection of its statement of interest from Citigroup, which is managing the sale. “The Swedish government promised that no new mines would be opened… We are fearing that with the sale, they are now trying to get away from that promise—unless they have very clear environmental and social criteria attached,” said Krüger. (Fast Coexist)
Health
Diabetic MP urges Coca-Cola Christmas truck to avoid UK city
Keith Vaz, the diabetic Member of Parliament for Leicester East, UK, is asking Coca-Cola not to bring its Christmas truck to his constituency, accusing the company of marketing a “real health hazard”. He insists he does not want to be a “killjoy”, but said the truck would send the wrong message in a city where Type 2 diabetes is rising and a third of children have tooth decay. He predicts people will protest if the truck does come to the city. Coca-Cola said it was still coming but would not give drinks to under-12s. “I know people like special things happening at Christmas, but Coca-Cola are coming to promote their product and in each can of Coke there are seven teaspoons of sugar,” Vaz said. TV chef Jamie Oliver has also criticised the way Coca-Cola is marketed in a recent documentary. He visited Mexico, where one in 10 adults has diabetes, and filmed a mother alternating between giving breast milk and Coke to her baby. (BBC)
Responsible Investment
Australian banks say they will support low-carbon lending
Two of Australia’s major banks have announced initiatives to support the transition to a low-carbon economy, moves which could make it harder to finance the country’s coal industry. Top lender National Australia Bank will finance $12.84 billion through to 2022 to renewable energy projects including low-carbon property and transport. Commonwealth Bank of Australia (CBA), the second biggest lender, said it would consider environment risks in loan and credit approvals and strengthen due diligence in “high-impact” sectors, without spelling out which areas could be affected. “We need to be cognisant of the long-term impact our business has on the economies and communities in which we operate,” CBA’s chief executive officer Ian Narev said. Last month, ANZ Banking Group announced plans to lend at least AUD$10 billion over the next five years to projects that will cut greenhouse gases, ending backing for new coal-fired power plants that don’t use advanced technologies to reduce carbon dioxide emissions. (Eco-Business)
Strategy
More firms vie for sustainability leadership in Singapore
A diverse range of companies were honoured for implementing innovative sustainability practices at the second Singapore Sustainable Business Awards this week. Singapore-based events company Global Initiatives and advisory firm PwC named Royal DSM, a Dutch life sciences and material sciences company, Overall Winner after it topped two categories: supply chain management and climate change. Fuji Xerox Asia Pacific won the Waste Management and Materials Productivity category, while Singapore telecommunications firm Singtel emerged as winner in the Stakeholder Engagement and Materiality category. The awards seek to increase sustainability awareness among businesses in Vietnam, Thailand, Indonesia, Malaysia, Philippines and Singapore and allow them to learn best practices from each other. Other Singaporean firms which won this year include real estate giants Keppel Corporation and City Development Limited. (Eco-Business)
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