AsiaElec - Asia Power
The US and China are this year topping Ernst & Young’s new biannual Renewable Energy Country Attractiveness Index.
In a historic step at COP27, negotiators from nearly 200 countries at the UN summit in Egypt agreed to establish a “loss and damage” fund to help developing countries cope with climate mitigation.
COP finished two days late on November 20 without any new agreements on climate change targets or emissions reductions, although a deal was hammered out to set up an as yet uncosted loss and damage fund.
Reducing coal consumption is the central challenge to achieving the world’s climate targets, Fatih Birol, executive director of the International Energy Agency, told COP27.
The UN has identified greenwashing by business and finance as the biggest danger facing the race to net zero, urging them to avoid a toxic cover-up and to ensure that any climate pledges they keep are in line with the 1.5-degree targets.
India could add a record 3.6 GW of open access renewable capacity in 2023 as industrial consumers look to lower electricity costs and meet sustainability goals.