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#DidYouKnow: China's Green Transition Efforts Amidst Coal Reliance Coal casts a shadow over China’s green transition, representing a whopping 56% of the country’s energy mix. While this reliance has been a significant challenge, recent strides towards sustainability are painting a brighter future. Between 2021 and 2022, coal usage increased, and it soared even further in 2023. However, amidst this, China took a monumental step forward by commissioning as much solar energy in 2023 as the entire world did in 2022. That's a remarkable leap towards renewable energy! Today, China stands as a global leader in renewable energy. It accounts for more than one-third of the world's wind capacity and an equal share of solar photovoltaic capacity. Additionally, China's contribution to electric vehicle (EV) technology is staggering, producing a massive three-quarters of the world’s EV batteries. A recent report by DNV’s Energy Transition Outlook China forecasts an encouraging trajectory. It predicts that China's renewable energy installations will quadruple by 2050, solidifying its position as the world’s leading investor in green technology. However, amidst these promising developments, there's a stark reality: China is responsible for one-third of energy-related carbon dioxide emissions. This underscores the critical importance of China's decarbonization efforts for the global emission trajectory. The pace of China’s transition to greener energy sources will have far-reaching implications for us all. If China accelerates its transition to renewable energy sources like solar and wind, it could significantly reduce global carbon emissions, contributing to a healthier environment for all. Conversely, a slower transition or continued reliance on coal could exacerbate climate change, leading to more frequent and severe weather events, rising sea levels, and detrimental effects on ecosystems and human health worldwide. The pace of China's green transition is not just a domestic concern but a global imperative. Collaborative efforts to support and accelerate this transition are crucial for mitigating climate change and securing a sustainable future for generations to come. #GreenChina #RenewableEnergy #ClimateAction

China has also invested in wind power in Africa countries such as Kenya and Ethiopia for enhancing economic growth and participate in the process of decarbonization globally. #China #GreenEnergy #Renewables #Carbon#Emissions #FossilFuels

The High Costs of Delaying Thailand's Transition to a Low-Carbon Economy As the global urgency to reduce greenhouse gas emissions intensifies, Thailand, ranked the 24th largest emitter, must also take decisive action. The energy sector, predominantly dependent on fossil fuels such as natural gas and coal, is the principal source of these emissions in Thailand. To achieve meaningful emission reductions, Thailand needs to accelerate its transition from fossil fuels to renewable energy sources. This shift, however, may result in significant stranded assets from existing fossil fuel-based infrastructure. A study conducted by Climate Finance Network Thailand employed the Discounted Cash Flow model to estimate the future value of stranded assets in the fossil fuel power generation sector. The findings, presented in the report "Fossil Reckoning: Valuation of Coal and Gas Stranded Assets in Thailand," are substantial. In a scenario of rapid energy transition, aligning with Thailand’s NDC, the value of stranded assets could reach 360 billion baht. Should Thailand pursue the Paris Agreement’s goal of limiting global temperature rise to 1.5°C, this figure could escalate to 530 billion baht. These projections underscore the transition risks faced by shareholders and bond investors in Thailand’s fossil fuel power companies. They also highlight the critical importance of accelerating investments in renewable energy to meet global climate objectives. For an in-depth understanding, download the full report here: https://lnkd.in/gBDi3G-U (available in both Thai and English).

A recent report shows that the Philippines' dependence on coal power has grown for 15 years straight, even with their goal of halving fossil fuel use by 2030 (via Reuters). This isn't an isolated case - Indonesia also saw increased coal reliance in 2023. While ASEAN aims for significant renewable energy growth by COP28, challenges remain. We explore these hurdles and highlight efforts by MDBs and institutions to get the region back on track in our new blog. #cleanenergy #ASEAN #sustainability #COP28 #ADB #BESS

A recent study by the Institute for Energy Economics and Financial Analysis (IEEFA) reveals a financially viable path for emerging countries: replacing over 800 coal-fired power plants with #solarinstallation by 2030. Currently, these plants generate around 2,000 gigawatts and emit 15.5 billion metric tons of CO2 annually. Key findings include: - 600+ plants, over 30 years old and debt-free, can be profitably replaced. - 200 plants, 15-30 years old, also show potential for a profitable transition. Challenges persist, such as fossil fuel subsidies and the financial complexities of closing newer plants, especially in countries like Vietnam. To ensure a smooth transition, Paul Jacobson, lead author of the report, emphasizes the need for robust, bankable transactions and regulatory safeguards. This strategy could help emerging countries reduce their #carbonfootprint while maintaining economic competitiveness. #cleanenergy #solartransition #renewables #sustainability #climateaction #energytransition #carbonreduction #solarpowered

If there is something that always strikes me as, let’s say, slightly hypocritical it’s how western governments and media are shouting how China’s investment in green technologies is creating an unfair advantage for Chinese companies after railing against them for years for causing too much pollution and aggravating the climate crisis. What stopped you from investing in and preparing your industry for the sustainability era? That was your choice. Anyway, China will have over half of the world’s renewables by the end of the decade ⬇️ https://lnkd.in/dmmRTqWc

As the global energy landscape shifts toward sustainability, Africa faces a critical question: how can the continent balance its vast fossil fuel resources with the urgent need for a clean energy future? Transitioning away from fossil fuels is not just an environmental imperative—it’s an economic opportunity to build resilient, renewable energy systems that empower communities and drive growth. The CLG - Energy Transition Centre is dedicated to guiding stakeholders through this transformative journey, fostering innovative solutions and partnerships to accelerate Africa’s energy evolution. 📖 Dive into the key insights shaping Africa’s energy transition: https://lnkd.in/dVnBibWj #EnergyTransition #SustainableAfrica #CleanEnergy #FossilFuels #CLGEnergyCentre #GreenFuture

With the United States under President-elect Donald Trump expected to pivot away from renewable energy and sustainable investments, Asia will soon find itself at a strategic crossroads. A Republican-controlled US government under the new president, according to renewables, energy and natural resources sector data provider Wood Mackenzie, is expected to shift energy policy away from net-zero goals. Looser emission regulations, protectionist trade policies and a potential withdrawal from the Paris agreement could signal a sharp divergence in priorities. While bipartisan support for the Inflation Reduction Act and strong renewable energy economics will sustain some energy transition momentum in the US, Asia’s growing expertise, knowledge and determination to lead in sustainable infrastructure offers the region a unique opportunity to seize global leadership in renewable energy innovation and implementation. Today, Asia stands as both the world’s largest producer and consumer of energy, and is still relying heavily on coal and fossil fuels to power its sprawling megacities and industries. Yet, the region now also boasts vast renewable energy resources, among them, solar in the deserts of India, wind along the coastlines of China, South Korea, Taiwan and Japan, and hydropower potential in Southeast Asia’s rivers. Led by heavyweights like China, Japan and India, the timing could now be apt for Asia. The move towards global leadership though would not just be a response to the potential changing of US energy policies but, in reality, would be an essential move for a region that has to increasingly balance economic growth, environmental challenges and the preservation of an immense and unique natural biodiversity. The transition isn’t just about energy, it’s a statement of geopolitical intent. As Asian nations invest in renewables, they solidify their positions as leaders in the global green economy and, in turn, can influence international standards and policies. Asia’s path to renewable energy dominance isn’t without challenges, but the stakes couldn't be higher. As the US retreats from sustainable leadership, Asia has the opportunity, and perhaps the responsibility, to redefine the global energy landscape. #asia #energytransition #renewableenergy #globalgreeneconomy #chin #us #globalenergylandscape #greopolitics #geoeconomics #internationalstandards #sustainableleadership #parisagreement

This week marks a pivotal moment in the global energy landscape as analysis suggests that China’s CO2 emissions may have peaked in 2023, with projections indicating a decline in 2024. With economic superpowers like China taking decisive steps toward achieving #NetZero, we could be on the brink of a significant shift in global #Decarbonisation efforts. China has reached record levels of low-carbon energy installations, embracing wind, solar, and a resurgence in hydroelectric power, positioning the nation for a sustained decline in emissions beginning in 2024. This not only underscores China’s ongoing commitment to clean energy investment but also signals a significant economic transition in the global effort towards achieving net zero. As the world's largest emitter, China's falling emissions paired with their renewed investment in #RenewableEnergy solutions sets an example for other nations; investing in #CleanTech is a secure economic strategy. The decline in China's emissions alongside its increasing #GreenInvestment signifies a huge economic shift towards a decarbonised future. Read more in Carbon Brief’s latest analysis of Chinese emissions. #CleanEnergy #ClimateAction #GlobalLeadership #EnablingRenewables

Key Challenges and Technological Innovations in Achieving Net-Zero Emission (by CFA article). Achieving net-zero emissions is a complex challenge, but there are significant technological advancements and policy measures that provide hope. ***Key Challenges*** 1.-High Hydrocarbon Subsidies: In 2022, direct subsidies for hydrocarbons reached $1 trillion 💸, significantly higher than the average of the previous six years. 2.-Growing Coal Consumption: Coal usage is on the rise again 🏭, which poses a significant challenge to reducing emissions. 3.-Inadequate CO2 Reductions: To meet the 1.5°C target 🌍, CO2 emissions need to be reduced by an additional 54% by 2030. ***Technological Innovations*** a) Cost Deflation in Key Technologies: The prices of batteries and solar panels have decreased 📉, making them more accessible. b) Cheaper Decarbonization of Transportation: With a 30% drop in battery prices 🔋, the cost of decarbonizing transportation has also decreased by 30%. c) Limited Effect of Increasing Interest Rates: While rising interest rates impact the renewable energy sector 📈, their overall effect on the cost curve is minimal. d) Supportive Policies: The U.S. Inflation Reduction Act has significantly lowered the decarbonization cost curve and spurred $500 billion in project announcements 💼. e) Growing Role of Bio-Energy: Sustainable aviation fuel and renewable natural gas are becoming more prevalent in various sectors 🌱. ***Canadian Policies and Programs: Although Canada does not have an equivalent to the U.S. Inflation Reduction Act, it has several significant initiatives: Canada Net-Zero Emission Accountability Act (2021) 2030 Emission Reduction Plan (2022) Clean Fuel Regulations (CFR) (2023) Investment Tax Credit (ITC) for Clean Technologies and CCUs (2023) Canada Infrastructure Bank (CIB) H2 Strategy for Canada (2020) Provincial Programs: APIP: Alberta Petrochemicals Incentive Program CleanBC: Focuses on renewable energy and EV adoption 🚗 Ontario: Low-Carbon hydrogen strategy and energy incentives Quebec: Plan for Green Economy 🌿 These efforts collectively contribute to making the transition to net-zero emissions more feasible and economically viable. If you have any specific questions or need more details on any of these points, feel free to ask! 😊 #NetZero#ClimateAction#Sustainability#GreenEnergy#CleanTech#Decarbonization#ClimateChange#RenewableEnergy