For decades following the end of World War II, the greatest perceived threat that the world faced was the use of nuclear weapons. Today, the threat is something more innocuous in daily use but no less deadly in the long run: the constant pumping of fossil fuel into the atmosphere.
As we look to a new year, socially responsible investments that track factors like environmental, social, and governance principles could see greater adoption among financial advisors and investors.
“Interest has gone up tremendously in 2020,” Jeffrey Gitterman, head of Gitterman Wealth Management, an RIA that specializes in sustainable investing and provides model portfolios to other wealth management firms, told Think Advisor. “Our climate strategies are the most popular. The transition (to zero emissions) is here and not going away.”
Five years ago, in Paris, the governments of the world pledged to take urgent action to tackle the climate emergency.
Today, as we celebrate the anniversary of that pledge, the time has come to take stock of the progress we’ve made and what it is going to take to limit warming to 1.5C. One thing is clear: to meet the Paris objectives, we will need to put an end to the expansion of fossil fuel production.
The Finance Ministry of the world’s biggest energy exporter has started preparing for the possibility of lower budget revenues in case global oil demand declines sooner than expected. A drop in mobility due to the coronavirus has coincided with increased efforts to combat climate change this year to completely alter the outlook for fossil fuel demand. BP Plc became the first major oil giant to admit in September that oil consumption may never return to levels seen before the pandemic. Since then China and the U.S., the world’s two biggest economies, have stepped up commitments to transition to clean energy.
Three Nations Energy (3NE), a corporation owned by Athabasca Chipewyan First Nation, Mikisew Cree First Nation and Fort Chipewyan Metis Association, announced the completion of their 2.2-megawatt solar farm in Fort Chipewyan this week.
“2021 must be the year of a great leap towards carbon neutrality,” said António Guterres, UN Secretary-General to a virtual gathering of influential leaders on Monday. “Every country, city, financial institution and company should adopt plans for transitioning to net zero emissions by 2050.” “By early 2021, countries representing more than 65 per cent of global carbon dioxide emissions and more than 70 per cent of the world economy are very likely to have made ambitious commitments to carbon neutrality,” he said. “The signal this sends to markets, institutional investors and decision-makers is clear. Carbon should be given a price. We must shift the tax burden from income to carbon, from taxpayers to polluters.” He added that financial reporting on exposure to climate risks should be made mandatory, while authorities must integrate the carbon neutrality goal into economic and fiscal policies in order to truly transform industry, agriculture, transportation and the energy sector.
This article presents the results of a major crowd-sourcing campaign to create open geographic data for over 260,000 solar PV installations across the UK, covering an estimated 86% of the capacity in the country. In particular, it focuses on capturing small-scale domestic solar PV, which accounts for a significant fraction of generation but was until now very poorly documented. The dataset suggests nameplate capacities in the UK (as of September 2020) amount to a total of 10.66 GW explicitly mapped, or 13.93 GW when missing capacities are inferred. Our method is applied to the UK but applicable worldwide, and compatible with continual updating to track the rapid growth in PV deployment.