ATHENS: Greece will spend 5 billion euros ($5.9 billion) to offset the impact of ditching coal in power generation by 2028 and cutting carbon emissions in line with European Union climate targets by 2050, a government official said on Wednesday.Energy Minister Kostis Hatzidakis told reporters the total will include state money, funds from the European Union and loans from the European Investment Bank.The funds will be spent on infrastructure projects, subsidies to new businesses, and training, to help western Macedonia and Megalopoli in Southern Peloponnese switch to green energy, agriculture and tourism.Those regions are the main suppliers of the cheap and abundant lignite resources Greece has relied on for power generation for more than half a century.Greece's conservative government, which took over last year, has pledged to switch off 80% of state utility Public Power Corp's coal capacity by 2023 to reduce its carbon footprint.Hatzidakis also said that some 16 private investments … [Read more...] about Greece to spend 5 bln euros to phase out coal by 2028
LONDON: Taxes on frequent fliers, more wind and solar power, and better protection for nature should be key policies in Britain's push to meet its promise to cut emissions to net zero by 2050, a citizens' assembly advised the country's lawmakers on Thursday.But its final recommendations in a report to parliament did not back nuclear power, efforts to capture and store climate-changing carbon emissions, or limits on driving and flying.The assembly said future changes should follow principles of fairness - particularly for those less able to adapt - as well as freedom of choice, and strong, consistent government leadership on climate action with cross-party support."They didn't want policies to change with every successive government," noted Chris Shaw, parliamentary director for the Climate Assembly UK, a 108-member panel created to provide citizen input on meeting Britain's climate change goals.Alok Sharma, Britain's business minister and president of the now-delayed COP26 U.N. climate … [Read more...] about UK citizens’ assembly wants ‘fair’ path to 2050 net-zero emissions goal
Here is a game plan. First, China should accelerate the adoption of domestic carbon taxes and trading. The pilot projects have been successful and it is time now to roll them out aggressively, nationwide. Second, China should use its global monopsony power (power of a large buyer in international trade) to impose a transnational carbon tariff. Third, China should use its powers-monopsony, diplomatic and financial-to build a climate coalition with its Asian trading partners via the Regional Comprehensive Economic Partnership, especially with the Southeast Asian nations, Japan and Australia to adopt a regime of carbon prices and impose a transnational carbon tariff to encourage non-members to join. … [Read more...] about We ignore the gray rhino at our peril
Trump replaced Obama’s Clean Power Plan aimed at slashing greenhouse gas pollution from electric plants and eased automobile fuel economy standards. Under Trump, the Environmental Protection Agency stripped federal protection from millions of acres of streams and wetlands. He lifted restrictions on oil and gas exploration in sensitive areas and shortened environmental reviews of construction projects such as highways and pipelines. … [Read more...] about Donald Trump expands ban on new offshore drilling sites in Atlantic
By Siddharth GoelNew Delhi: Invest in a clean, green transition, end fossil fuel subsidies, put a price on carbon and commit to no new coal plants after 2020, urged United Nations Secretary-General Antonio Guterres, addressing India at the 19th Darbari Seth Memorial Lecture. But given that India’s quarterly GDP has fallen by a whopping 23.9% in the first quarter of this year, can the country really afford these measures?A deeper look at fossil fuel subsidies and emerging renewable energy solutions suggests that green stimulus could actually be India’s most economically viable pathway to recovery.Are fossil fuels supported more than renewables?Over the past four years, the International Institute for Sustainable Development (IISD) and the Council on Energy, Environment and Water (CEEW) have been mapping India’s energy subsidies. Our latest inventory shows that in 2018-19, subsidies for fossil fuels were seven times higher than subsidies for clean energy.Skeptics might … [Read more...] about OPINION: Can India afford a green stimulus during the pandemic?