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Tuesday

28/21

Decarbon Daily - Road to COP26, Renewables, & Carbon Offsets

Inside this issue

The Road to COP26

As we approach the end of the year, expect more companies to announce net-zero ambitions. The United Nations Climate Change Conference (COP26) takes place from October 31st to November 12th this year Glasgow, UK. COP26 goals are to:
1. Secure global net zero by mid-century and keep 1.5 degrees within reach
2. Adapt to protect communities and natural habitats
3. Mobilise finance
4. Work together to deliver

For a moment, only focus on the 3rd goal to mobilise finance. It is such a critical element since many of the projects that we are tracking CCUS, hydrogen, renewables, and energy storage require $500+ million and more to get the project to the finish line.

Already this year the largest CCUS project has commenced operations, new gigafactories are opening, and many hydrogen projects are obtaining funding. Many of the CCUS and hydrogen projects are relying on tax credits and carbon trading plans to recoup the investment.

The scale and speed of the changes we need to make will require all forms of finance: public finance for the development of infrastructure we need to transition to a greener and more climate-resilient economy; private finance to fund technology and innovation, and to help turn the billions of public money into trillions of total climate investment.

Once again, scale comes into the conversation due to the sense of urgency and size of the investments required.

Developing countries in particular need support. Developed countries must deliver on their promise to raise at least $100 billion every year in climate finance to support developing countries. The OECD estimates that $78.9bn of climate finance was mobilised in 2018. Source: COP26 Explained

Mobilising finance is the critical path to starting and finishing the scale of projects needed for a low-carbon economy.

Inside this Issue

☀️ Excelsior Energy Capital Acquires Tax Equity Interests in Existing Portfolio Investment
🔋 The Story of Renewables in India is Incomplete without Energy Storage
🌳 Bank of America: Carbon Offset Market may Need to Grow Fiftyfold to Meet 2050 Net-zero Emissions Goals
👩🏼‍🔬 US Pharma Giants Combat Emissions Crisis with Long-term Net-zero Pledges
☁️ Petronas Champions Low-carbon Energy Production with CCUS
♻️ New 10GW Green Hydrogen Project in Mauritania Could Include Africa's First Offshore Wind Farm

Articles in this issue

Excelsior Energy Capital Acquires Tax Equity Interests in Existing Portfolio Investment

www.valdostadailytimes.com
Excelsior Energy Capital (“Excelsior”), a leading independent North American renewable energy investor, announced today that its flagship...

The Story of Renewables in India is Incomplete without Energy Storage

www.energy-storage.news
India’s government will launch its first 1,000MW pilot tender to procure energy storage within a matter of weeks, Ministry of Power joint...

Bank of America: Carbon Offset Market may Need to Grow Fiftyfold to Meet 2050 Net-zero Emissions Goals

www.cnbc.com
The carbon offset market may need to grow by as much as 50 times if companies are going to meet 2050 net-zero greenhouse gas emissions go...

US Pharma Giants Combat Emissions Crisis with Long-term Net-zero Pledges

www.spglobal.com
The largest U.S. drugmakers have all committed to reducing greenhouse gas emissions in the near term as a global economic forum drew atte...

Petronas Champions Low-carbon Energy Production with CCUS

themalaysianreserve.com
The Carbon Capture, Utilisation and Storage (CCUS) technologies are crucial in clean energy transitions. According to a recent report by ...

New 10GW Green Hydrogen Project in Mauritania Could Include Africa's First Offshore Wind Farm

www.rechargenews.com
An oil & gas developer has been granted exclusive rights to develop a green hydrogen project of up to 10GW in Mauritania that could inclu...

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