Finance

This week will see the official launch of a global taskforce that aims to support worldwide uptake and integration of renewables and achieve at least 50% reduction in emissions over the coming decade.

The advance of PV has been lauded by the International Energy Agency as it launched the latest edition of a flagship World Energy Outlook 2020 report overshadowed by the Covid-19 crisis and uncertainty over how long the economic recovery could take.

Sustainable intentions come together in the signing of a green loan to fund ongoing development of FRV’s Sebastopol Solar Farm, which lender ING says contributes towards its “ambition to align our lending portfolio with the Paris Agreement goals”.

Australia needs more transmission and network capacity to efficiently use its vast, distributed renewable-energy resources, and to enable transition to a low-cost, zero-carbon electricity supply. In the Australian Opposition’s Budget in Reply it aims to make Australia’s inherent wealth work better for the nation, and puts transmission infrastructure upgrade at the centre of the country’s recovery from Covid-19.

BlackRock, the $7.3 trillion asset manager and one of AGL Energy’s largest shareholders, broke ranks at AGL’s recent annual shareholder meeting to side with the Australasian Centre for Corporate Responsibility’s resolution to accelerate the closure of the energy giant’s coal-fired power stations. The move is significant for BlackRock who had so far only talked the talk, but now seems to be walking the walk.

Sustainability-linked debt financing is experiencing ever increasing popularity and the success of green bonds has driven other products linked to social performance and other sustainability criteria. The total volume of such investments to date passed the $2 trillion point this year.

The iron and steel sector is the ‘world’s largest industrial source of climate pollution.’ This steel mill in Pueblo, Colorado, will be the first in North America to rely on solar power.

Doubling down on renewable energy investment and energy transition spending is required to ensure a truly green global recovery from the Covid-19 crisis and its economic aftershock, claims the International Renewable Energy Agency.

Oil and metals trader will join forces with Australian investment group IFM to launch the new entity, which will develop solar, wind and energy storage projects – some of them supplying clean energy to Trafigura operations – as well as making acquisitions.

Project delays and price changes due to fluctuating demand are disrupting the Chinese solar market. Researchers who have analysed the situation claim that the nation’s PV industry will be back on track toward grid parity by the end of the year.