Italy installs 2GW of solar PV in 2010

Official reports in last week confirmed that Italy installed nearly 2GW (1,850MW) of photovoltaic power plants during 2010 alone. This continues a rapid growth curve in Italian PV power plants over the past few years from just 60MW in 2007 to 340MW in 2008 and 711MW in 2009. Italy´s 2010 tally more than doubles the figure achieved in the United States who did not quite reach 1GW.

Italian utility provider GSE has outlined that an additional 4GW is already pipelined for installation in the coming years. In accordance with Italy´s 2020 renewable energy targets, the total installed PV target is 8GW in total which will produce almost 3% of the country´s electricity demand itself.

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EU ambitious 30% emission reduction

The European Parliament has approved its resolution recommending the EU increase their 2020 renewable energy goals from 20% to 30% emissions reduction in relation to 1990 levels.

It is now agreed that raising the reduction target will be economically beneficial to the EU economy, and so this is what the MEPs will recommend to other developed countries next week at the 16th Conference of Parties in Cancun gathers in Cancun, Mexico.

Currently the EU is falling short of the self-imposed 20% reduction goals, non-binding as per the Kyoto Protocol. Despite this they hope to persuade other global leaders of the economic advantages in increasing the reduction goals, and in doing so have all developed economies extend the Kyoto Protocol together.

With deforestation and change of land use causing around 20% of global emissions, the EU also intends on committing an additional €30bn per year to a global fund specifically to help smaller countries focus on reducing emissions from deforestation and degradation (REDD).

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Balancing expectation, one year on from Copenhagen

In our lives there are historical occasions that we remember vividly. What happened that day, where we were and how we felt. One of the most famous was the day JF Kennedy was assassinated, whilst more recently the tragic 11th September 2001 was a day none of us will ever forget. For me another one to add to that list was the 15th Conference of Parties in Copenhagen, December 2009; the day we turned our back on Mother Nature.

Nearly one year ago today I stayed up, gripped with hope, watching with baited breath for the world leaders to come together in the name of mankind. As the last light of hope flickered, President Obama came out to announce the agreement that would guide us safely in to the future. Thousands of ideas, hopes and dreams of a new world rushed around in my head. How would it be, how would society work together and function financially, where would our food and water come from?

Millions of hopes were shattered when no more than a token peace-keeping gesture was offered. Something for the press to chew on. Despite decades of research from the world´s finest scientists (independently inside and outside the IPCC for any skeptics still left), nothing on the scale required would be done.

“Yes” we know CO2 ppm is rising hundreds of times faster than ever before. “Yes” we know that last time CO2 ppm was at current levels the world was inhabitable. “Yes” we understand that a rise of 2 °C will send our ecosystems over an irreversible tipping point which will devastate society and “Yes” we realize that we could reach this tipping point by 2040. “Yes” we understand what needs to be done and how much funding needs to be invested in order to prevent this occurring and “Yes” we understand that if these aren´t implemented by 2012 then it may be too late.

“No”, we won´t do anything about it.

desertification

Since then these past 12 months have seen the slow painful asphyxiation of markets that were essential to creating a sustainable future. Where $1 trn should have been carefully distributed to put the future infrastructure in place, instead renewable energy markets have diminished in volume, flagship ventures have essentially shut down, and governments continue with promises and rhetoric for electoral goals whilst delivering far short of the scale needed.

In less than one week the 16th Conference of Parties will commence. At this point there is still no defined successor to the Kyoto Protocol which expires in 2012 and there is no agreed proposal for a structure to secure actual commitment in enforcing emission reduction levels. The main polluters, historically the US with over 300bn tonnes CO2 since the industrial revolution, China with over 130bn tonnes CO2 and modern heavyweights such as Australia, India and Brazil, direct policy attention away from their own pollution to smaller less relevant economies. So, do we dare to hope for a defined, measured and proactive proposal to be implemented after COP16?

Well, according to executive secretary for the UNFCCC Christiana Figueres, these talks in Cancun Mexico are not intended to establish a final and ultimate framework for global action. Apparently the conference will be a success if all the parties gain something from it and “balance their expectations so that everyone leaves carrying a positive achievement from their own perspective”. I have balanced my expectation.

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US & China’s Action Plan not enough

As the Conference of Parties in Copenhagen approaches next week, 192 nations of the World prepare to meet to solve the global pollution problem and find a workable replacement to the Kyoto Protocol. Being something that the US has still not signed up to, what was desperately needed to add weight to this gathering was an official emissions-reduction target from the United States. However the US and China, the 2 largest polluters in the World responsible for 50% of global pollution, have given us little more than a publicity stunt.

Following an historic meeting in mid November 2009, both President Hu Jintao of the People’s Republic of China and President Obama of the United States of America, outlined their “Action Plan”. In this the US and Chinese administration agreed to invest US$150m (yes million, not billion) over 5 years in “research & development” toward mitigating climate change. Breaking it down, they will be investing $75m each over 5 years, so $15m each, each year. It doesn’t take much to see through these glossy magazine-selling statistics and realise that this is little more than a get-out-of-Copenhagen-free card.

obama-hu

(more…)

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The Rainforest Rush is on!

Although you may not be aware, all the World’s largest corporations are rapidly purchasing as much-endangered rainforest as possible. Why would they do this you ask? To which the simple answer is that they are all highly undervalued and so a very good investment!

All multi-national corporations have enormous global carbon footprints, and only in the coming years will this officially become a financial burden to them as global governments slowly enforce various methods of what is effectively an emissions tax. As the underlying unit of CO2 emissions is the carbon credit, and rainforests are the largest organic owner of carbon credits, the investment decision is an easy one.

With deforestation the root cause of around 20% of global carbon dioxide pollution, “reduction of emissions from deforestation and degradation” (REDD) projects should be accepted by the UNFCCC this December in Copenhagen. Once this occurs, implemented REDD projects will have carbon credit values within the Kyoto Treaty’s “Clean Development Mechanism” giving them enormous inherent financial value. Rather than wait for this decision most MNC’s have made their minds up, taken the bull by the horns, and are buying their stock at “pre-launch prices”. The Rainforest Rush is on!

As scientists worldwide perfect their analysis techniques including using satellite technologies, the carbon stock already stored and the sequestration rates of forests are being calculated and rainforests evaluated. It isn’t every forest of course. Only those that are officially endangered by a high risk of deforestation, in countries such as Brazil, Indonesia and Papua New Guinea, will pass the rigorous REDD standards.

amazon rainforest

(more…)

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UN and the WWF highlight accelerating climate change

With the climate change conference in Copenhagen just 6 weeks away, these may unknowingly be the most important time of all our lives. Officials from over 190 countries are charged with the simple task of agreeing how to continue the global fight against climate change, and take over from the Kyoto Protocol. With many of the most fundamental issues still in dispute, we await with baited breath.

As a recent report from the WWF outlined that we have less than 5 years to stop uncontrollable climate change, hopefully by now the climate change scheptics would have been educated long ago. It seems however they remain steadfast in their own self-denial, be it adamant, ignorant or just stupid. With Nasa, UN and independent scientists and scholars all around the World pointing out that drastic and immediate measures need to be taken to prevent a 2˚C temperature rise, hopefully there will be no doubters in Copenhagen! And why the concern over a 2 degree increase? Only that a catastrophic breakdown of ecosystems, leading to mass migration, poverty, hunger and drought, with half of all animals and plants going extinct and a large sea level rise, and massive change in weather patterns. This has been forecast to occur at current rates WITHIN THE NEXT 35 YEARS.

Droughts, acidic oceans and melting glaciers are the most simple signs of accelerated global warming, a United Nations report said recently. Mountain glaciers in Asia are melting at such advanced rates that they could threaten water supplies far sooner than expected, including irrigation and hydropower, affecting up to 25% of the World’s population.

Copenhagen

So with regards to Copenhagen, what is really making this all so difficult? Our complete dependence on fossil fuels and an inability to realise an affordable and scaleable replacement is the main problem. Of course this is not helped by the fact that developed nations like China and the US have such high levels of pollution, and yet dont seem willing to even announce let alone stick to emission reduction targets. A fundamental change in developed society, how we live, how we travel, how we eat, will all need to occur if society is to have any chance of preventing climate change. Our lives will change drastically in the coming years, of that there is no doubt. Are we ready and willing for this? Perhaps also the largest single issue with the Kyoto Protocol was that the developed nations need the less-developed nations to help them reach their emission reduction targets, but dont seem willing to pay for it! With just over 6 weeks to go, these are nervous times indeed.

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Indonesia giant steps to Rainforest protection

Indonesia is recognised as the World’s largest greenhouse gas polluter through deforestation. With the release of CO2 in to the atmosphere through deforestation responsible for 20% of global greenhouse pollution, practically the largest single reason for global warming, Indonesia is in the limelight. Unfortunately with high levels of press exposure concerning illegal deforestation in Indonesia for the purpose of Palm Oil plantations, competing with potential food crops, the situation needs quickly addressing.

Reducing emissions from deforestation and degradation, or “REDD” as it is known, is one of the most crucial topics to be addressed by the UN in Copenhagen this December. It is widely accepted by experts that limiting the rise in global temperature to 2˚C above pre-industrial levels (the level at which widespread ecosystem breakdown is forecast) will be almost impossible without REDD.

Once the International Panel on Climate Change present their findings in Copenhagen to the World governments it is hoped that necessary financial mechanisms will be implemented that correctly incentivize 3rd World governments such as Indonesia to not only protect existing rainforest but replant new forests. Only then will the Kyoto Protocol’s effective successor have taken the crucial action in attempting to mitigate climate change.

Mean while, with over a billion tons of CO2 emissions from its forests and peatlands, Indonesia has pre-empted the UNFCC’s decision and officially issued national regulations on REDD. Now all forest stakeholders, be they private organisations, local authorities or indigenous people, can all acquire REDD permits for projects that prove they prevent CO2 otherwise entering the atmosphere.

Should a large %age of Indonesia’s current deforestation be prevented, and if REDD is accepted in to Kyoto’s existing CDM system, then the potential carbon credit trading value for Indonesia will run in to US$ bns. We can only hope that in Copenhagen this winter the World’s governments can reach an agreement for this vital solution to global climate change, and financially motivate everyone to protect their forests.

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Amazon Hydro Project now full steam ahead

Following much resistance from local campaigners and negative publicity and fines due to illegally de-foresting beyond the necessary limits, the “Energia Sustentavel do Brasil” have finally been awarded the environmental licence to complete the 3.3 GW Amazonian hydro plant.

Energia Sustantavel do Brasil won the rights to the R$9bn dam on the Madeira river after offering to sell electricity at just over R$71 per MWhr. Having won the project however they then tried to move the site 9km downstream and the projects environmental license had to be re-assessed.

The State of Rondonia will receive R$90m in environmental compensation funds, including a land swap for alternative existing forest and also R$69m to go to Porto Velho some 120km from the dam, to go toward schools and public housing.

The dam is expected to start producing energy in 2012.

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Obama switches on Plug-in Electric Drive Vehicles

In what could be one of the defining legacies of his regime, President Obama has outlined a number of incentives to boost the global Green Energy market development. His recent bill earmarks $16.8 billion in direct spending for renewable energy and energy efficiency programs over the next ten years, $4.5bn to modernize the US grid with smart technology, $2,5bn for renewable energy and energy efficiency R&D and $2bn toward manufacturing of advanced batteries.

The bill also significantly increases the advancement and feasibility of Plug-in Electric Drive Vehicles (PED) in the US. Tax credits for installing alternative fuel pumps at gas stations are increased from 30% to 50% ($30,000 to $50,000), whilst $2bn is also ring-fenced for manufacturing of hybrid or electric cars. Potential owners of PED will also receive credits. The bill increases the tax credit for qualified plug-in electric drive vehicles for the first 200,000 placed in service. This is a good start although has some way to go to replace the 200,000,000 cars currently used in the US.

The substantial bill also includes many alternative incentives to enhance the global Green energy markets, including Tax Credits for investment and production of electricity derived from wind facilities, geothermal, biomass, hydropower, land-fill gas, waste-to-energy and marine facilities.

The bill is a great start and shows the world’s largest economy is determined to lead from the front, and should also ensure a great incentive for larger flows of global capital from private investors and corporations.

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