Tag Archives: south-africa
We’re Putting A Price On Carbon, But Is It Making A Difference?
More than 20% of global emissions are now either taxed or traded. But the question remains: will adding economic incentives to cleaner energy actually work? Putting a price on carbon emissions is seen as crucial to curbing climate change. And the good news is that much of the world is doing just that (though not the U.S.). A new report from the World Bank identifies 40 national, and 20 sub-national, mechanisms globally. The European Union, South Korea, Australia, and New Zealand all now have emissions trading systems, or are implementing them. Other countries, like Denmark, Finland, Ireland, Japan, Norway, and South Africa have (or are implementing) carbon taxes. And then there are regional trading initiatives, such are those in California and Quebec. The fact that so many carbon pricing schemes have emerged shows a political will to mitigate greenhouse gases. Altogether, current schemes cover more than 20% of global emissions. And with China, Brazil and Chile all considering carbon trading, the prospect is for far more to be covered–perhaps up to 50%. “The fact that so many carbon pricing schemes have emerged shows a political will to mitigate greenhouse gases as countries increasingly use carbon pricing to deliver benefits both to our climate and to a sustainable economy,” says Joëlle Chassard, of the World Bank’s Carbon Finance Unit. “A transition towards a new generation of carbon markets is in the making.” What is more, the World Bank sees hopeful signs in links between schemes: for example, between E.U. and Australian systems, and California’s and Quebec’s. In time, such relationships could be a “step towards establishing a global carbon market,” it says. And, newer entrants are learning from earlier mistakes. The price of carbon in the EU’s system has collapsed several times, notably during the recession. So, the new schemes are putting in “price floors,” or stopping participants from hoarding allowances (a major problem in Europe). Still, the Bank isn’t exactly confident about averting dangerous global warming–which is the question that matters. “The international community has agreed to limit the increase in average global temperature to 2 degrees Celsius (°C) above pre-industrial levels,” it says. “The current level of action puts us on a pathway towards a 3.5–4°C warmer world by the end of this century.” And, the effectiveness of mechanisms like carbon trading remains in doubt. Emissions in Europe–our best test case–have fallen. But this was in a faltering economy, when businesses and individuals use less energy. A price in itself is meaningless; what matters is the number. So, it’s good news that more of the world is pricing carbon. But we should be wary about banking the outcome. http://www.fastcoexist.com/ Continue reading
UN: Developing Nations Leading Renewables Investment
By Ed King Investment in renewable energy projects in developing countries increased in 2012, despite a small global decline in back for wind and solar projects, the UN Environment Programme (UNEP) has revealed. Today it released two reports on the state of the renewable sector, the REN21′s Renewables Global Status Report (GSR) and Global Trends in Renewable Energy Investment 2013. They confirmed overall investment in renewables was $244 billion, a 12% drop on 2011, which the studies attribute to policy uncertainty in industrialised countries. Total power capacity increased by 8.5%, while the deployment of wind and solar installations broke new records, despite falls in overall funding. But while the US and Germany experienced significant dips in investment, there were sharp increases in China, South Africa, Mexico, Kenya and the Middle East. Installed wind capacity hit a new record of 48.4GW, up from 42.1GW in 2011, although investment fell 10% China consolidated its position as the world’s leading renewables market, with solar investment largely responsible for a 22% lead to $67 billion of investment. Small-scale solar in Japan also drove an astonishing 73% increase in investment, worth $16 billion. Despite the ongoing financial crisis, both reports highlight the strong position of the clean energy sector, which has seen $1.3 trillion injected since 2006, and now employs 5.7 million around the world. “This should be a source of inspiration for governments, cities, companies and citizens everywhere to raise their ambition towards climate action,” said UN Secretary General Ban Ki Moon. “A global climate agreement by 2015 would provide dramatic spur in the direction we need to travel.” UN climate chief Christiana Figueres, who has endured a difficult second week of international negitiations in Bonn, said the figures provide a welcome boost. “Driven in part by the UNFCCC process and various provisions and mechanisms of the Kyoto Protocol, the increasing deployment of wind, solar, geothermal and other clean energy power sources serve as a powerful antidote to those who claim that a transition to a low-carbon, resource-efficient future is unobtainable,” she said. Critically, costs of renewables continue to fall. Solar PV systems are down 30-40% on 2011 prices, while onshore turbines have fallen “by a few percentage points”. “It is encouraging that renewable energy investment has exceeded $200 billion for the third successive year, that emerging economies are playing a larger and larger part, and that the cost-competitiveness of solar and wind power is improving all the time,” said Michael Liebreich, Chief Executive, Bloomberg New Energy Finance. “What remains daunting is that the world has hardly scratched the surface – CO2 emissions are still on a firm upward trend and there was still nearly $150 billion of net investment in new fossil-fuel generating assets in 2012.” Continue reading
South Africa Housing Crisis – The Itiriling Evictions
This short documentary takes a look at the illegal evictions that took place in the Itiriling community outside of Pretoria. Many people were left without ba… Continue reading
