PEi Connect provides a brief look at what got our attention during the week (21-28 Oct), and first up we consider a report released by TransitionZero stating that the world needs to shut around one coal unit per day, from now until 2030 in order to keep warming at 1.5C.
Coal needs to go
The world will need to shut down almost 3,000 coal-fired power plants by 2030 if it has a chance of keeping temperature rises within 1.5°C. So says the latest research from climate think tank TransitionZero.
The report explores what needs to be done to reduce coal electricity to ensure climate targets are met, as well as why governments now have strong incentives to do so. Read more.
Dutch pension fund to divest fossil fuel assets
ABP, one of the largest pension funds in the Netherlands, has announced plans to divest the majority of its $17.4 billion oil, gas and coal investments by the first quarter of 2023. Media outlet Argus reports that the decision was based on the findings of the latest IPCC report and marks a significant strategic turnaround for the company. Read more.
- Energy technology firm GridBeyond has published its latest research paper outlining key trends for the energy market, to inform negotiators, and global decision-makers in the run-up to COP26.
The report states that sustainability will continue to disrupt the energy market in 2022 as stakeholders seek to leverage renewable energy ahead of conventional energy to decarbonise operations and mitigate climate change. Read more about these sector trends.
- Bonnie the seal has been revealed as the official mascot for Glasgow’s COP26 climate summit. Bonnie, who will hang around the publicly accessible “green zone” over the next few weeks, has received widespread public criticism, with many thinking the sweet seal looks like a rat. More about Bonnie.
- Tweet of the week
Exploring Alaska’s tidal potential
National Renewable Energy Laboratory researcher Levi Kilcher, led a multi-lab team to research how to tap the 18GW of tidal energy potential in the Cook Inlet, Alaska. The data collected during this project will identify the opportunities and challenges that come with turning a highly energetic corner of the Pacific Ocean into a renewable power source for Alaskans. Project details are available here.
Connect with us next week for another selection of interesting sector news.
Until then, take care, stay safe and power on.
The PEi Ed team 🙂