What’s Going On Here? This week the International Energy Agency (IEA) released its Renewables 2020 report, a detailed analysis of the impact of COVID-19 on renewables in the electricity, transport and heat sectors. What Does This Mean? Whilst almost all other fuels have been badly impacted, the renewable energy sector has adapted to the rapid changes of the ongoing COVID-19 pandemic and…
What’s Going On Here? On Tuesday morning, fossil-fuel major Shell had the audacity to post a poll on Twitter asking the public what actions they were willing to take as individuals to reduce their carbon emissions, sparking spectacular backlash. What Does This Mean? High profile responders included US congresswoman Alexandria Ocasio-Cortez, Greta Thunberg and climate scientists Prof Katharine Hayhoe and Peter Kalmus.…
What’s Going On Here? One of the biggest financial asset management firms has moved its investments out of major petrochemical and mining companies due to their actions lobbying against green policies. What Does This Mean? Storebrand, a Norwegian firm with investments of $90bn, has divested from (moved money out of) major oil, gas and mining companies including ExxonMobil, Rio Tinto and Chevron.…
What’s Going On Here? Hundreds of thousands of homeowners will receive vouchers for energy-saving home improvements in England, with the poorest getting up to £10,000. What Does This Mean? A £2bn grant scheme has been announced as part of a wider £3bn “green investment” package announced in the chancellor’s summer statement yesterday.The scheme is a welcome injection of cash into the home retrofit industry,…
What’s Going On Here? On 10th June 2020, Britain marked the longest time (ever!) generating electricity without coal. What Does This Mean? When Britain went into lockdown, electricity demand plummeted to that of the 80’s (when there were 10 million less of us!). The National Grid forecasted a 20% fall below the normal level and right now our daily electricity demand profile on a weekday…
What’s Going On Here? This week, global oil price dipped below $16 a barrel for the first time since 1999. In the US, oil prices are negative for the first time ever at minus $37 a barrel! This means that oil producers (without access to storage space) actually began to pay customers to take barrels of the black stuff off their hands. What Does…
What’s Going On Here? Initial data from NOAA (National Oceanic and Atmospheric Administration) estimates that levels of atmospheric methane, a gas that is 80x more powerful than CO2, has reached record levels. What Does This Mean? Methane, or CH4 to any keen chemists, is a greenhouse gas. It is only present in the atmosphere for 10 years, (as opposed to CO2 that can stay for…
What’s Going On Here? Sometimes good news comes from the most unexpected of places. So it was this week with a report leaked from JP Morgan that acknowledged, in no uncertain terms, the threat posed by climate change: “we cannot rule out catastrophic outcomes where human life as we know it is threatened” JPM’s economists warned their shareholders. What Does This Mean? Feel like…
What’s Going On Here? Technology has been developed to produce carbon-free energy from the sun, powerful enough to rival fossil fuels. This is the first time renewable energy has been able to be used for powering heavy industries, such as the manufacturing of concrete, steel and petrochemicals. What Does This Mean? The technology is called ‘concentrated solar power’. It works by using…
