Pierre Abadie’s Post

The European Investment Bank (EIB) and Germany will boost the global hydrogen economy by expanding the Green Hydrogen Fund, which was established in 2021. Today, the EIB confirmed an additional German contribution into the fund, which is implemented by the Bank. This enables the fund to broaden its scope – it will now provide investment grants in addition to strategic advice and technical assistance to developing countries for initiatives or projects using green hydrogen. Werner Hoyer, EIB President, said: Green hydrogen can help industries reduce their carbon footprint, The countries of the Global South have enormous potential to produce the renewable energy needed for green hydrogen. “With the Green Hydrogen Fund, we are building a bridge between the innovative projects required to limit global warming to an acceptable level and the economic development of countries and regions most affected by the consequences of climate change. Together with the German Ministry for Economic Affairs and Climate Protection, we will offer technical assistance and investment grants through the fund. This will enable our partners to integrate green hydrogen into their climate action plans and develop infrastructure projects that can make green hydrogen a reality on a large scale.” https://lnkd.in/ee_6dm5t

🌍Net-zero by 2050: One plan. Two objectives. How green growth can build the Northern Powerhouse🌍 NPP has unveiled a new net-zero report that highlights the transformation potential of private investment in achieving net zero. The report builds on a Cambridge Econometrics analysis which shows that industrial decarbonisation and reducing emissions from real estate are the sectors offering the highest potential private investment leverage overall. The report suggests that for every £1 of public money invested, at least £4 can be generated from the private sector, demonstrating the substantial economic benefits of these initiatives. Strategic recommendations: 1) GB Energy to deliver the UK's first orders for a fleet of small modular reactors (SMRs). 2) Develop our offshore wind and tidal supply chain 3) Push ahead with carbon capture use and storage (CCUS) on the Mersey, Tees and Humber. 4) Retrofit domestic and commercial buildings with heat pumps 5) Electrify the railways and produce SAF for the aviation sector 🔊 Let's discuss 🔊 What role do you think the private sector plays in the North’s transition to net zero? How can we ensure investments lead to sustainable growth and protect local industries? Read the full report here 👇 https://lnkd.in/eK5MUW7D

Adding to the IEA report, I believe the long-term viability of new innovations in low-carbon practice is attracting reduced cost of financing, majorly due to regulatory compliance and increased issuance of sustainable finance. This change is facilitated by financial institutions through sustainable finance offerings at a reduced cost of debt for borrowers undertaking steps toward responsible reporting and strategic capital integration. In the context of financing, geography plays a major role in energy transition initiatives as evidenced by the lower cost of financing sustainable and renewable projects in Europe compared to traditional fossil fuel projects. Global climate mitigation and adaptation goals will be achievable if climate-vulnerable developing nations are charged a lower cost of capital for investment in clean technologies. #iea #cleantech #climatechange #energyinnovation

The good news: It is possible for Europe to become zero carbon neutral by 2050! But we need to speed up and invest significantly more in both wind, solar, hydrogen as well as infrastructure - grid and pipes. Today Copenhagen Business School MBA Alumnis from both Executive and Full Time MBAs meet at Copenhagen Infrastructure Partners (CIP) to hear the story and strategy of CIP as well as getting their view on European power and hydrogen market towards 2050. In 2015 with the Paris Agreement at COP21 the policy was #decarbonisation. That changed dramatically on 24th of february 2022 with the invation of Europe, where politics changed to #energy #security #policy. Which changed again in August 2022 where the Biden administrations Inflation Reduction Act (IRA) where it became #industrial #politics with "America first" doctrine threathening to #deindustrialise Europe with US government subsidies. Using an advanced partial equilibrium model named #Balmorel for analysing the electricity and combined heat and power sectors in an international perspective, CIP has together with Ea Energianalyse A/S looked at the forecast towards 2050. The good thing: Energy consumption will decline in Europe due to higher efficiencies (think e.g. better insulation, less heat waste, etc.). But to carve out ALL fossile fuel, Europe need to increase both onshore wind, off shore wind and solar energy by a factor of 10. E.g. Solar energy from current 150 GW to astonishing 1500 GW. Additional #Power-to-X (hydrogen, ammoniak and methanole) should deliver 10-15% of energy which requires loads of cheap abundant green electrons to convert into green molecules. The story of CIP is fascinating. Starting as an offspring from former DONG Energy in 2012, CIP now employs 1.800 and are the World largest fund manager for #renewables with more than 30 bn EUR of assets under management, and an aspiration to grow to 100 bn EUR by 2030. And the good thing is that YOU likely already have invested in one of their funds via your pension company. To put the investments needed for delivering on the Paris Agreement with Zero Carbon emissions by 2050 in Europe, we need 99 more investment funds at the size of CIP. The green energy transition will not be financed with public money as most EU countries (excluding Denmark) are highly indebted already. Europe's pension funds (Denmark alone has accumulated pensions exceeding 500bnEUR alone) need to chip in and get good returns in reward. And we need active industrial policy from #EU policy makers to counterbalance the aggressive politics from both #US and #China to let Europe's industrial companies lead this transition. Thanks to Christian Skakkebæk, Helle Havvig Gammelgaard and Philip Christiani from CIP for sharing your insights.

👉 FOLLOW EnergyNews.biz 👈 - 🌍 #EIB and #Germany expand Green #Hydrogen Fund for global projects. - 💰 Fund, established in 2021, gets extra contributions to support large-scale #greenhydrogen projects. - 🔄 Supports entire green hydrogen value chain, collaborating with #banks to encourage #investments. - 🌐 Crucial for #sustainable development, aligns with international #climate goals.

“Finding a test pilot is a pipe dream.” That’s what I was told just a couple of months ago, when a few of us wondered if we could find real transactions in which to road-test our work on the use of high integrity transition credits to complement financing for coal phaseout. But dreams are where change begins. And this photo of Monetary Authority of Singapore (MAS)’s Managing Director Ravi Menon, ACEN CEO Eric Francia and The Rockefeller Foundation’s Senior VP Ashton Dayal together at the COP SG Pavilion (Singapore Pavilion) is proof of that. Our partners will incorporate transition credits in the retirement of the South Luzon Thermal Energy Corporation coal plant in Philippines. Climate Smart Ventures, an advisory firm focused on energy transition and a member of the TRACTION coalition, will be coordinating the project. More information on TRACTION is available here: https://lnkd.in/g45RnYPk We are also delighted that the Asian Development Bank (ADB), which is advising the Government of Philippines over the retirement of a coal plant in Mindanao under its Energy Transition Mechanism, will be piloting the use of transition credits in that transaction. Through these pilots, we are taking the critical first step to progress from a concept paper to tangible projects where we will road-test the different approaches for transition credits to be generated. When MAS published our working paper with McKinsey on transition credits in September (available here: https://lnkd.in/gA-zBKgn), we knew that it this was a new concept with many issues to iron out. We knew there would be questions, perhaps even scepticism over whether a viable market for such credits could be built. But we possessed a deep conviction that this needed to be done, and it has been very encouraging to find partners who are ready to work with us. Over the past few days at COP28, across different pavilions and stages, across events - formal and informal, open and closed-door, large and small - I have heard resounding support for our work on transition credits. This is needed, they say. This is what could change things for early coal retirement to scale, they say. We invite stakeholders from across the globe to join us in building a more sustainable future. If you’re keen to pilot the use of these credits or would like more information about TRACTION, please reach out to my team at [email protected] Pamela Lee Shi Min Tan Si Yun Neo Yuanjie Soh Adeline Chan

👉 FOLLOW EnergyNews.biz 👈 - 🌍 #EIB and #Germany expand Green #Hydrogen Fund for global projects. - 💰 Fund, established in 2021, gets extra contributions to support large-scale #greenhydrogen projects. - 🔄 Supports entire green hydrogen value chain, collaborating with #banks to encourage #investments. - 🌐 Crucial for #sustainable development, aligns with international #climate goals.

👉 FOLLOW EnergyNews.biz 👈 - 🌍 #EIB and #Germany expand Green #Hydrogen Fund for global projects. - 💰 Fund, established in 2021, gets extra contributions to support large-scale #greenhydrogen projects. - 🔄 Supports entire green hydrogen value chain, collaborating with #banks to encourage #investments. - 🌐 Crucial for #sustainable development, aligns with international #climate goals.

This is a significant move as C2ES takes on the important role of standing up the Energy Transition Accelerator. It is critically important to find ways to finance the renewable energy transition in emerging markets and the harder job of identifying financing tools to shutter coal facilities. With the right guardrails, this could prove to be an important and impactful initiative.

Exciting Friday update: The Energy Transition Accelerator (ETA), a high-integrity carbon finance platform, became an independent initiative today. First started by the Bezos Earth Fund, The U.S. Department of State, and The Rockefeller Foundation, the ETA could generate billions of dollars in transition finance to support just energy transitions for developing and emerging economies. Through the ETA, The Rockefeller Foundation is investing in the people and communities fighting on the front lines of the climate crisis. Without a just and equitable energy transition, we will not win the climate fight. Learn more about the initiative here: https://lnkd.in/ef4q-sip