SONIK BAROT’s Post

Confirmation today that carbon capture and storage (CCS) technology will be considered as part of the $15 billion National Reconstruction Fund is another positive step towards net zero. Carbon capture is a proven and viable emissions reduction tool used around the world for more than 50 years and the technology is gathering momentum globally and here in Australia, with new projects such as Santos and Beach Energy's CCS joint venture at Moomba, South Australia (pictured). Australian Energy Producers has put carbon capture utilisation and storage (CCUS) firmly on the agenda this year, with our Federal Budget submission calling for a national CCUS roadmap to provide clear policy direction, identify and progress priority hubs for low emissions projects and promote Australia as a regional carbon storage leader. The Commonwealth has already moved to review regulations to enable CCUS investment and change legislation to allow the import and export of carbon. Carbon capture is recognised as critical to reducing emissions to get to net zero by the International Energy Agency (IEA), the Intergovernmental Panel on Climate Change (IPCC), Australia's Climate Change Authority (CCA) and the nation's leading science organisation, the Commonwealth Scientific and Industrial Research Organisation (CSIRO). 🔗 Australian Energy Producers 2023-24 Federal Budget Submission: https://lnkd.in/gjMw5ptT

The public sector continues to provide significant financing and investment to the fossil fuel industry via subsidies, financing from development finance institutions, and fossil fuel investments from state-owned companies. This ongoing support has raised concerns among environmental advocates and experts who emphasize the urgent need for a transition to clean and renewable energy sources. Despite growing awareness of the environmental and climate impacts associated with fossil fuels, public financing for the industry remained substantial. In 2020 alone, it amounted to a staggering $687 billion, underscoring the persistence of entrenched financial ties between governments and fossil fuel sectors. This level of funding, however, falls considerably short of the ambitious phaseout target set for 2030, which demands an accelerated reduction rate nearly five times greater than the historical average. While public financing for the fossil fuel industry remains substantial, the urgency of addressing climate change necessitates a rapid shift towards renewable energy sources. Reallocating financial resources from fossil fuels to sustainable alternatives can not only mitigate environmental risks but also unleash new economic opportunities in the emerging green economy. The image below indicates a positive shift in the right direction, but it falls significantly short of the track required to meet the 2030 goals, necessitating a fivefold acceleration. #Climate_Change #Public_Financing #Fossil_Fuels #Renewable_Energy #IPCC

Our team members recently attended an insightful session on "Mitigation 2: Energy Transition and Sustainable Development Non-CO2 Mitigation." It was a privilege to learn from four distinguished speakers who shared their expertise on mitigation strategies for combating climate change and achieving the Paris Agreement goals. The first speaker focused on the fossil fuel non-proliferation treaty, which aims to halt further exploration of fossil fuels and phase them out as the primary energy source in most countries. They highlighted the crucial role of civil societies, universities, and private stakeholders in leading a just energy transition, reducing dependence on fossil fuels. The second speaker showcased the work of the International Renewable Energy Agency (IRENA) in leading the transition from fossil fuels to renewable energy sources such as bioenergy, geothermal, hydropower, ocean energy, and solar energy. The speaker emphasized that achieving net-zero emissions is still possible but urged immediate action in the critical 2020s. The youth speaker, Rosmel Rodriguez, emphasized the significance of tax incentives in driving the shift from fossil fuels to renewable energy. They highlighted that favorable taxation laws and incentives from governments can encourage more investments in renewable energy, thus ensuring a sustainable future. The last speaker, Dirk Forrister, CEO of the International Emissions Trading Association, spoke about the role of carbon markets as a mitigation strategy. Carbon markets play a crucial role in reducing global emissions and achieving the Paris Agreement's goals. The speaker particularly emphasized the potential of African countries in the carbon markets project and how it can drive sustainable development for the global south. As we continue our #ClimateAction advocacy, let's strive for an inclusive transition from fossil fuels to renewable energy, leaving no one behind. Together, we can drive positive change and make a difference for a sustainable future. #EnergyTransition #SustainableDevelopment Zindzi Kwavayi Celestine Sabatian Rebecca Chepkemoi

The comprehensive plan comprises 81 measures across 18 lines of work, to be implemented in two stages. The initial phase, spanning from 2023 to 2026, focuses on establishing conditions for industry development, defining environmental and social standards. Subsequently, from 2026 to 2030, efforts will concentrate on territorial planning, regulations, local development, citizen participation, and human capital preparation for green hydrogen advancement.

Happy to announce our latest scientific publication and share insights! 😊 #researchupdate 🇪🇺 The study explores the EU's decarbonisation journey, focusing on the Energy Performance of Buildings Directive (EPBD) implementation in the EU countries. 📊 Harmonized data allows cross-country comparisons, revealing impactful trends across climatic zones and policy insights at the EU level. 💡A key output is that the final energy consumption of EU buildings could be reduced by 14%, while direct GHG emissions could be cut by 35% by 2030 (compare to 2019 level) if Member States follow their indicative renovation targets. By 2050, the EU building stock might phase out almost entirely the fossil fuels! 📉 Although progress is evident, challenges are part of the journey. Member States must ramp up renovations for zero-emission buildings. Exciting times ahead with the recast EPBD driving building decarbonisation! 🏗️🏡♻️ 🔍 For further insights check out the paper at the following link: https://lnkd.in/deThVenY Co-authored with Delia D'Agostino, Sofia Tsemekidi, Luca Castellazzi, Giulia Melica, and Paolo Bertoldi EU Science, Research and Innovation Published in Energy and Buildings #energyefficiency #EPBD #buildingrenovation #energypolicy #renovationwave

New peer-reviewed research | No new fossil fuel projects: The norm we need. A poignant policy paper Dr Fergus Green, (UCL Political Science and School of Public Policy), Dr Steve Pye (UCL Energy Institute) and researchers from the International Institute for Sustainable Development has been published in Science Magazine and argues that stopping new fossil fuel projects is a crucial step for countries to achieve their climate goals. They recommend a "No New Fossil Fuels" norm, which would prevent new fossil fuel exploration and extraction projects and the construction of new fossil fuel power plants. This new fossil fuel development ban would be easier politically, economically, and legally than closing operational projects early. "Our research establishes that there is a rigorous scientific basis for the proposed norm by showing that there is no need for new fossil fuel projects. The clarity that this norm brings should help focus policy on targeting the required ambitious scaling of renewable and clean energy investment, whilst managing the decline of fossil fuel infrastructure in an equitable and just way.” – Steve Pye Read more and explore the article ➡️ https://lnkd.in/guu6WjYz

🚨 Today, the revised #EPBD was published in the EU Official Journal (#OJEU)! 🌍 The recast of 🏡 the Energy Performance of Buildings Directive (EPBD) aims at advancing towards a 🌱 carbon-neutral economy by establishing ambitious objectives for reducing #EnergyConsumption in #buildings throughout the EU, taking into account national circumstances. 📰 On 1st December 2023, UPEI published a position paper pleading for legislation respecting technology neutrality, considering all solutions respecting and contributing to EU targets on climate-neutrality, such as heating with sustainable liquid fuels. 👉 Read more on UPEI position paper here: https://lnkd.in/dgdd7nQ5 🔗 You can access the EPBD on the OJEU here: https://lnkd.in/dgjAiJk7 ℹ️ Additionally, explore a summary of the key elements of this piece of legislation on the European Commission website: https://europa.eu/!W8myvy #REPowerEU,#SustainableHeating, #ClimateAction, #EUClimateGoals, #EnergyTransition, #FutureEnergy, #CarbonNeutrality, #GreenFuture,#RenewableEnergy, #Sustainability #CleanEnergyFuture, #Renewables2024

New peer-reviewed research | No new fossil fuel projects: The norm we need. A poignant policy paper Dr Fergus Green, (UCL Political Science and School of Public Policy), Dr Steve Pye (UCL Energy Institute) and researchers from the International Institute for Sustainable Development has been published in Science Magazine and argues that stopping new fossil fuel projects is a crucial step for countries to achieve their climate goals. They recommend a "No New Fossil Fuels" norm, which would prevent new fossil fuel exploration and extraction projects and the construction of new fossil fuel power plants. This new fossil fuel development ban would be easier politically, economically, and legally than closing operational projects early. "Our research establishes that there is a rigorous scientific basis for the proposed norm by showing that there is no need for new fossil fuel projects. The clarity that this norm brings should help focus policy on targeting the required ambitious scaling of renewable and clean energy investment, whilst managing the decline of fossil fuel infrastructure in an equitable and just way.” – Steve Pye Read more and explore the article ➡️ https://lnkd.in/guu6WjYz

New peer-reviewed research | No new fossil fuel projects: The norm we need. A poignant policy paper Dr Fergus Green, (UCL Political Science and School of Public Policy), Dr Steve Pye (UCL Energy Institute) and researchers from the International Institute for Sustainable Development has been published in Science Magazine and argues that stopping new fossil fuel projects is a crucial step for countries to achieve their climate goals. They recommend a "No New Fossil Fuels" norm, which would prevent new fossil fuel exploration and extraction projects and the construction of new fossil fuel power plants. This new fossil fuel development ban would be easier politically, economically, and legally than closing operational projects early. "Our research establishes that there is a rigorous scientific basis for the proposed norm by showing that there is no need for new fossil fuel projects. The clarity that this norm brings should help focus policy on targeting the required ambitious scaling of renewable and clean energy investment, whilst managing the decline of fossil fuel infrastructure in an equitable and just way.” – Steve Pye Read more and explore the article ➡️ https://lnkd.in/guu6WjYz

Australia's geography places it in a unique position to become a global leader in carbon capture and storage (CCS). The breadth of policy and funding initiatives on offer in the US, the UK and the EU suggests a collaborative approach between the private sector and government is needed to ultimately unlock Australia's CCS potential. Read our analysis: https://bit.ly/44VeEx0