Day: 16 January 2024

IRENA and World Meteorological Organization Launch Report on Renewable Energy and Climate Variability

Stuart Mitchell

The International Renewable Energy Agency (IRENA) and World Meteorological Organization (WMO) have released their first joint report to strengthen understanding of renewable energy resources and their intricate relationship with climate variability and change. It seeks to inform policymaking and hasten the transition away from polluting fossil fuels and towards a cleaner, greener energy future. The report, launched at COP28 in Dubai today, highlights the key role of weather and climate information and services in meeting the untapped potential and challenges in the transition to renewable energy. Renewables now dominate new…

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Deloitte report: Improved financing could save US$50 trillion as the world decarbonizes

Stuart Mitchell

Deloitte’s Financing the Green Energy Transition report found that new cost-reducing finance instruments can help de-risk green projects in developing economies while making investing in these projects more attractive, helping to fuel a global just energy transition. Achieving net-zero greenhouse gas emissions by 2050 will require an annual global investment in the energy sector ranging from US$5 trillion to US$7 trillion. However, the world currently invests less than US$2 trillion each year into the transition, which is far short of the financing needed to help put the world on course…

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Octopus Energy partners with Idris Elba and Siaka Stevens’ Sherbro Alliance Partners to develop Sierra Leone’s first wind farm on Sherbro Island

Stuart Mitchell

Octopus Energy’s generation arm has entered into a milestone partnership with Idris Elba and Siaka Stevens’ development company, Sherbro Alliance Partners (SAP), to build Sierra Leone’s first wind farm as part of the Sherbro Island City project. Announced at COP28, the collaboration and project will help accelerate the country’s monumental renewables opportunity and collect vital data to foster greater investment into green energy on Sherbro Island, across Sierra Leone and beyond. The deal will see Octopus build a first-of-its-kind renewables project for the country in 2024, with the potential to…

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WFA’s Planet Pledge welcomes seven more multinationals

Stuart Mitchell

WFA’s flagship environmental sustainability initiative, Planet Pledge welcomes seven new signatories. AkzoNobel, Arçelik, Beam Suntory, Groupe Bel, HP, Nestlé and Vodafone have joined the global initiative, which now covers 38 multinationals representing nearly $69bn in approximate annual marketing spend.  Launched in 2021, the Planet Pledge is a CMO-led framework designed to help make marketing part of the solution to the climate crisis. It builds on existing industry efforts and aims to address the gaps preventing marketing from becoming compatible with a sustainable future.   The influx of recent signatories follows the…

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IFC and Allied Climate Partners Announce Collaboration to Scale Emerging Market Climate Investments

Stuart Mitchell

IFC recently announced a collaboration with Allied Climate Partners (ACP) that will help create a pipeline of viable climate investments in Southeast Asia, Africa, the Caribbean and Central America, and India.  ACP’s new platform is backed by philanthropic capital and designed to mobilize investment in climate-related projects in emerging economies to create significant environmental, economic, and social impact. The collaboration with IFC will provide advisory and structuring support, technical assistance, and sustainability and impact-management support as needed to help bring projects to financial viability. It will apply global best practice…

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