IEA releases ‘roadmap to net zero’ report
BERKELEY, California, 18 May 2021: The International Energy Agency (IEA) said it has published its first ever comprehensive roadmap to net-zero emissions by 2050. The report, it added, provides guidance for governments, companies, investors and the public on what is necessary to fully decarbonize the energy sector and lower greenhouse gas emissions to limit temperature rise to 1.5 degrees Celsius.
The report, it said, comes after it received widespread criticism for systematically underestimating the pace of adoption of clean energy technologies, such as solar and wind, and substantially overestimating their costs. Critics, it said, argued that IEA projections had effectively acted as support for the fossil fuel industry’s business-as-usual operations.
In a significant shift, the IEA said, it today recognizes that on a net-zero pathway there can be no investment in new fossil fuel supply. This, it said, includes oil, gas and coal projects. The IEA said, it confirms that with the introduction of policy to achieve climate stabilization at 1.5 degrees, the fossil fuel sector will face significant demand reduction.
Danielle Fugere, President, As You Sow, responding to the release of the report, said: “This new net-zero scenario from the IEA finally aligns with investor expectations and makes abundantly clear to fossil fuel companies that they must set net-zero targets, develop a clear transition strategy, and evolve in step with the decarbonizing global economy. Standing in the way of progress is no longer acceptable for companies’ own enterprise success or for the global economy.”
Daniel Stewart, Senior Research Associate, As You Sow, said: “Until now, the IEA’s research has been used to play down transition risks faced by the fossil fuel industry and as a support for inadequate energy and climate policy. IEA’s new scenario firms up what investors already knew about the steps needed to achieve climate stabilization by mid-century. It demonstrates without a doubt that it is difficult but absolutely possible to contain the catastrophic impact of runaway climate change, and signals major disruption on the horizon for industries reliant on fossil fuels.”
RAK Municipality signs MoU with Energy Efficiency Services Limited (EESL)
RAS AL KHAIMAH, UAE, 17 February 2021: Ras Al Khaimah Municipality signed a Memorandum of Understanding (MoU) with Energy Efficiency Services Limited (EESL) – a joint venture of Public Sector Undertakings (PSUs) under the Ministry of Power, Government of India – for a strategic collaboration for energy efficiency and clean energy projects. Making the announcement through a Press release, the Municipality added that H.E. Munther Mohammed bin Shekar, its Director General, and Saurabh Kumar, Executive Vice Chairperson, EESL Group, were the signatories.
According to the Municipality, the MoU establishes a framework for collaboration across various energy efficiency and renewable energy programs in support of the Ras Al Khaimah Energy Efficiency & Renewables Strategy 2040 (EE&R Strategy).
Commenting on the objectives of the MoU, H.E. bin Shekar said, “The Government of Ras Al Khaimah is committed to the successful implementation of Ras Al Khaimah Energy Efficiency and Renewables Strategy 2040. We welcome the collaboration with EESL, as their unique and vast expertise in energy efficiency can be relevant for us in developing effective projects across many sectors of energy efficiency and renewable energy in Ras Al Khaimah.” Sharing his views on the collaboration, Kumar said: “We are always exploring new avenues for implementing energy efficiency initiatives that are sector- and geography-agnostic. This partnership with Ras Al Khaimah Municipality is a big step towards tapping the immense potential for energy efficiency in the Emirate. Our expertise in handling the world’s largest energy efficiency portfolio and Ras Al Khaimah Municipality’s local experience and technical skills will synergise perfectly to create lasting positive impact in the region.”
Under this MoU, EESL, through its presence in the UAE, will support Ras Al Khaimah Municipality in implementing clean energy and energy efficiency projects under its Integrated Energy Efficiency Service (IEES) model, the Municipality said. This model includes integration of EESL’s various programmes, including the consumer-based Efficient Appliances Programme, Industrial Energy Efficiency Programme, Building Energy Efficiency Programme, Utility-scale Solar Programme, Trigeneration, National Motor Replacement Programme and the National E-mobility Programme, the Municipality added.
The Municipality said it will jointly develop and implement the programme framework with EESL. It said that EESL will make investments and develop customised project models relevant to Ras Al Khaimah. The collaboration is expected to develop and drive energy efficiency and renewable energy projects, as part of the Ras Al Khaimah Energy Efficiency and Renewables Strategy 2040, it added. The Strategy, established under the patronage of H.H. Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, targets 30% energy savings, 20% water savings, and 20% contribution of electricity from renewable sources by 2040.
JCI CEO named Chair of Business Roundtable Energy & Environment Committee
CORK, Ireland, 19 January 2021: Johnson Controls (JCI) announced that George Oliver, its Chairman and CEO, will be serving as Chair of the Energy & Environment Committee of the Business Roundtable.
Making the announcement through a Press release, JCI described the Business Roundtable as an association of chief executive officers of America’s leading companies. Through research and advocacy, Business Roundtable supports policies to spur job creation, improve US competitiveness and strengthen the economy, the company said. Its Energy & Environment Committee is dedicated to advancing policies that encourage innovation and support an environmentally and economically sustainable future, it added.
As the incoming Biden administration prepares to put clean energy at the heart of the US economic recovery, such business-led initiatives will be key in helping the new administration meet its proposed goals, the company said.
“I am honored to be selected as Chair of the Energy & Environment Committee and look forward to working with my fellow CEOs to support policies that preserve our environment and maximize our energy options,” Oliver said. “Climate change is one of the greatest challenges facing the planet today. Business Roundtable believes that businesses are an essential part of the solution and calls for collective action and policies to drive innovation, significantly reduce greenhouse gas emissions and limit global temperature rise.”