scholarly journals Equator Principles 4-Revised Climate Change Risk: What Does This Mean For Project Financing in Africa Amidst The Ongoing Energy Transition?

2021 ◽  
Vol 12 (1) ◽  
pp. 72-91
Author(s):  
Ailly P.G. Sheehama
Keyword(s):  
Climate Change ◽  
Risk Management ◽  
Energy Transition ◽  
Social Risk ◽  
Low Carbon ◽  
Project Financing ◽  
Climate Change Risk ◽  
Low Carbon Economy ◽  
Wide Range ◽  
Equator Principles

Since its inception, the Equator Principles Association introduced a risk management framework in response to the ever-changing environmental and social risk in projects. The Equator Principles (EPs) result from minimum standards for risk management to stop the race to the bottom. In June 2013, EP3 was introduced, and climate change requirements were added to address the 'transition towards an ethical and low-carbon economy.' This eventually led to the newly revised Equator Principles 4 (EP4s), 'Climate Change Risk Assessment' (transition risk), in July 2020. This article analyses the effect of the transition risk of EP4 to determine whether this new addition will support or inhibit oil and gas project financing in Africa amidst the ongoing energy transition by questioning the underlying assumptions upon which the policy design was developed. The article concluded that consideration for project financing in Africa could be expected to address the energy needs in Africa while at the same time essentially pushing governments to take into consideration climate change by putting in place processes, policies, and systems to manage these risks.' Furthermore, the transition risks definition and implementing standards of EP4 are broadly worded, allowing adapting the principles to a wide range of regimes that positively contribute to these domains. This essentially enables consideration of ethical transition and provides for coordination and coherence across different policy domains.

scholarly journals Energy Efficiency and GHG Emissions Mapping of Buildings for Decision-Making Processes against Climate Change at the Local Level

2020 ◽  
Vol 12 (7) ◽  
pp. 2982 ◽  
Author(s):  
Edgar Lorenzo-Sáez ◽  
José-Vicente Oliver-Villanueva ◽  
Eloina Coll-Aliaga ◽  
Lenin-Guillermo Lemus-Zúñiga ◽  
Victoria Lerma-Arce ◽  
...  
Keyword(s):  
Climate Change ◽  
Energy Efficiency ◽  
Spatial Resolution ◽  
Residential Buildings ◽  
Local Level ◽  
Ghg Emissions ◽  
Energy Transition ◽  
Primary Energy ◽  
Low Carbon ◽  
Low Carbon Economy

Buildings have become a key source of greenhouse gas (GHG) emissions due to the consumption of primary energy, especially when used to achieve thermal comfort conditions. In addition, buildings play a key role for adapting societies to climate change by achieving more energy efficiency. Therefore, buildings have become a key sector to tackle climate change at the local level. However, public decision-makers do not have tools with enough spatial resolution to prioritise and focus the available resources and efforts in an efficient manner. The objective of the research is to develop an innovative methodology based on a geographic information system (GIS) for mapping primary energy consumption and GHG emissions in buildings in cities according to energy efficiency certificates. The developed methodology has been tested in a representative medium-sized city in Spain, obtaining an accurate analysis that shows 32,000 t of CO2 emissions due to primary energy consumption of 140 GWh in residential buildings with high spatial resolution at single building level. The obtained results demonstrate that the majority of residential buildings have low levels of energy efficiency and emit an average of 45 kg CO2/m2. Compared to the national average in Spain, this obtained value is on the average, while it is slightly better at the regional level. Furthermore, the results obtained demonstrate that the developed methodology is able to directly identify city districts with highest potential for improving energy efficiency and reducing GHG emissions. Additionally, a data model adapted to the INSPIRE regulation has been developed in order to ensure interoperability and European-wide application. All these results have allowed the local authorities to better define local strategies towards a low-carbon economy and energy transition. In conclusion, public decision-makers will be supported with an innovative and user-friendly GIS-based methodology to better define local strategies towards a low-carbon economy and energy transition in a more efficient and transparent way based on metrics of high spatial resolution and accuracy.

scholarly journals Energy Transition Indicators in African Countries: Managing the Possible Decline of Fossil Fuels and Tackling Energy Access Challenges

2021 ◽  
Vol 12 (1) ◽  
pp. 1-48
Author(s):  
Victoria Nalule ◽  
Theophilus Acheampong
Keyword(s):  
Climate Change ◽  
Developing Countries ◽  
Fossil Fuels ◽  
Energy Transition ◽  
Low Carbon ◽  
Energy Access ◽  
African Countries ◽  
Low Carbon Economy ◽  
Tackle Climate Change ◽  
Definition Of

The global move to tackle climate change as envisaged in the 2015 Paris Agreement has necessitated debates and action geared towards transitioning to a low carbon economy. Although there is no agreed international definition of energy transition, the focus has been put to a shift from fossil fuels to renewables. This paper is intended to contribute to the global debate on energy transition with a focus on the initiatives taking place in a few selected countries. The argument in this paper is to the effect that many developing countries still need fossil fuels to tackle energy access challenges and ensure economic growth. Nevertheless, this does not in any way mean that these countries are climate change deniers. In this respect, the question to be addressed in this article is how can we measure energy transition efforts in developing countries? In responding to this question, the article attempts to develop and analyse some key energy transition indicators.

scholarly journals Design of a Smart Nanogrid for Increasing Energy Efficiency of Buildings

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3683
Author(s):  
Yerasimos Yerasimou ◽  
Marios Kynigos ◽  
Venizelos Efthymiou ◽  
George E. Georghiou
Keyword(s):  
Storage System ◽  
Energy Transition ◽  
Energy Storage System ◽  
Low Carbon ◽  
Pv System ◽  
Interconnected System ◽  
Low Carbon Economy ◽  
Energy Needs ◽  
Energy Domain ◽  
Battery Energy

Distributed generation (DG) systems are growing in number, diversifying in driving technologies and providing substantial energy quantities in covering the energy needs of the interconnected system in an optimal way. This evolution of technologies is a response to the needs of the energy transition to a low carbon economy. A nanogrid is dependent on local resources through appropriate DG, confined within the boundaries of an energy domain not exceeding 100 kW of power. It can be a single building that is equipped with a local electricity generation to fulfil the building’s load consumption requirements, it is electrically interconnected with the external power system and it can optionally be equipped with a storage system. It is, however, mandatory that a nanogrid is equipped with a controller for optimisation of the production/consumption curves. This study presents design consideretions for nanogrids and the design of a nanogrid system consisting of a 40 kWp photovoltaic (PV) system and a 50 kWh battery energy storage system (BESS) managed via a central converter able to perform demand-side management (DSM). The implementation of the nanogrid aims at reducing the CO2 footprint of the confined domain and increase its self-sufficiency.

Reinvigorating the role of clean energy transition for achieving a low-carbon economy: evidence from Bangladesh

2021 ◽  
Author(s):  
Muntasir Murshed ◽  
Zahoor Ahmed ◽  
Md Shabbir Alam ◽  
Haider Mahmood ◽  
Abdul Rehman ◽  
...  
Keyword(s):  
Energy Transition ◽  
Clean Energy ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Carbon Economy

Alternative scenarios for the future of the Canadian boreal zone1

2019 ◽  
Vol 27 (2) ◽  
pp. 185-199 ◽  
Author(s):  
James W.N. Steenberg ◽  
Peter N. Duinker ◽  
Irena F. Creed ◽  
Jacqueline N. Serran ◽  
Camille Ouellet Dallaire
Keyword(s):  
Climate Change ◽  
Ecosystem Services ◽  
Adaptive Capacity ◽  
Fossil Fuels ◽  
Global Climate ◽  
Policy Implications ◽  
Low Carbon ◽  
Boreal Zone ◽  
Low Carbon Economy ◽  
Carbon Economy

In response to global climate change, Canada is transitioning towards a low-carbon economy and the need for policy approaches that are effective, equitable, coordinated, and both administratively and politically feasible is high. One point is clear; the transition is intimately tied to the vast supply of ecosystem services in the boreal zone of Canada. This paper describes four contrasting futures for the boreal zone using scenario analysis, which is a transdisciplinary, participatory approach that considers alternative futures and policy implications under conditions of high uncertainty and complexity. The two critical forces shaping the four scenarios are the global economy’s energy and society’s capacity to adapt. The six drivers of change are atmospheric change, the demand for provisioning ecosystem services, the demand for nonprovisioning ecosystem services, demographics, and social values, governance and geopolitics, and industrial innovation and infrastructure. The four scenarios include: (i) the Green Path, where a low-carbon economy is coupled with high adaptive capacity; (ii) the Uphill Climb, where a low-carbon economy is instead coupled with low adaptive capacity; (iii) the Carpool Lane, where society has a strong capacity to adapt but a reliance on fossil fuels; and (iv) the Slippery Slope, where there is both a high-carbon economy and a society with low adaptive capacity. The scenarios illustrate the importance of transitioning to a low-carbon economy and the role of society’s adaptive capacity in doing so. However, they also emphasize themes like social inequality and adverse environmental outcomes arising from the push towards climate change mitigation.

scholarly journals Tackling the Risk of Stranded Electricity Assets with Machine Learning and Artificial Intelligence

2021 ◽  
Author(s):  
Joseph Nyangon
Keyword(s):  
Climate Change ◽  
Artificial Intelligence ◽  
Machine Learning ◽  
Carbon Budget ◽  
Energy Sector ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Legal Challenges ◽  
Nationally Determined Contributions ◽  
Implementation Level

The Paris Agreement on climate change requires nations to keep the global temperature within the 2°C carbon budget. Achieving this temperature target means stranding more than 80% of all proven fossil energy reserves as well as resulting in investments in such resources becoming stranded assets. At the implementation level, governments are experiencing technical, economic, and legal challenges in transitioning their economies to meet the 2°C temperature commitment through the nationally determined contributions (NDCs), let alone striving for the 1.5°C carbon budget, which translates into greenhouse gas emissions (GHG) gap. This chapter focuses on tackling the risks of stranded electricity assets using machine learning and artificial intelligence technologies. Stranded assets are not new in the energy sector; the physical impacts of climate change and the transition to a low-carbon economy have generally rendered redundant or obsolete electricity generation and storage assets. Low-carbon electricity systems, which come in variable and controllable forms, are essential to mitigating climate change. These systems present distinct opportunities for machine learning and artificial intelligence-powered techniques. This chapter considers the background to these issues. It discusses the asset stranding discourse and its implications to the energy sector and related infrastructure. The chapter concludes by outlining an interdisciplinary research agenda for mitigating the risks of stranded assets in electricity investments.

scholarly journals IMPLEMENTING THE SUSTAINABLE DEVELOPMENT GOALS IN UKRAINE: FINANCING FRAMEWORK

2021 ◽  
Vol 5 (40) ◽  
pp. 399-409
Author(s):  
I. Alieksieiev ◽  
A. Mazur ◽  
О. Storozhenko
Keyword(s):  
Climate Change ◽  
Sustainable Development ◽  
Kyoto Protocol ◽  
Carbon Dioxide Emissions ◽  
Renewable Energy Sources ◽  
Jel Classification ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Development Framework ◽  
Development Processes

Abstract. The article examines the features of sustainable development processes in Ukraine. In particular, the works of scientists on the issues of sustainable transformations of the economy, the problems of establishing a mechanism for the transition to the use of renewable energy sources and reducing carbon dioxide emissions are analyzed. The basic principles of legislative regulation of the processes of sustainable transformation in the context of Ukraine’s integration into the international model of sustainable development according to the UN Framework Convention on Climate Change are studied. The research objective is to study the mechanism of implementation of sustainable transformations in the economy of Ukraine, identification of the main problems of low-carbon strategy establishment in the context of harmonization of international and state legislation and identification of effective mechanisms for financing sustainable development processes. During the research, methods were used, such as: the dialectical method and methods of analysis and synthesis — to carry out a comparative analysis of legislation that regulates the processes of sustainable development, ways to implement a low-carbon strategy, study trends in carbon emissions in Ukraine; statistical method — to analyse the targets for changing the greenhouse gas emissions of Ukraine in 2020—2030 and the proposed target for 2050; structural and logical analysis — to study effective mechanisms of financing the processes of sustainable development in Ukraine, identify the ways of sustainable development projects funding. In general, the article reveals a number of problems that Ukraine faces as a signatory to the Kyoto Protocol. The main tools of the country’s transition to a low-carbon strategy have been identified. The economic mechanisms to ensure the fulfillment of the country’s obligations under the Kyoto Protocol have been studied. Possible ways of financing the processes of sustainable transformation are considered, among which, in particular, we can highlight the scheme of «green» investments. Keywords: sustainable economic development, Framework Convention on Climate Change, Kyoto Protocol, low carbon economy, mechanism for financing sustainable development. JEL Classification Q01, Q4, Q5 Formulas: 0; fig.: 1; tabl.: 0; bibl.: 36.

scholarly journals Should Countries Fire Sell their Oil & Gas Assets? Addressing the Mis-conceptions Surrounding the Continued Role of Fossil Fuels in the Energy Transition Era

2021 ◽  
Vol 11 (2) ◽  
pp. 432-440
Author(s):  
Victoria R. Nalule ◽  
Xiaoyi (Shawn) Mu
Keyword(s):  
Fossil Fuels ◽  
Energy Transition ◽  
Low Carbon ◽  
Energy Access ◽  
Poverty Eradication ◽  
Low Carbon Economy ◽  
Tackle Climate Change ◽  
Oil Gas ◽  
Carbon Economy

Access to modern energy such as electricity is key in the economic development of any country, and yet over 600 million people remain with no access to electricity in developing countries. It is true that both renewable energy and fossil fuels are key in the achievement of the United Nations Sustainable Development (UN SDG) Goal 7 and Goal 1 on energy access and poverty eradication respectively. However, the current global efforts to transition to a low carbon economy, and tackle climate change as stipulated in the SDG 13 and the 2015 Paris Agreement, have created a lot of tension on fossil fuel developments in recent years.This commentary article is presented as a question and answer session aimed at addressing the misconceptions surrounding the achievement of SDG 7 and SDG 13 in this energy transition era. The paper is of interest to oil producing countries. The article follows the various questions raised by policymakers during an online seminar delivered by both the authors entitled, ‘Fossil Fuels in the Energy Transition Era’.

Building a low-carbon economy: The inaugural report of the UK Committee on Climate Change

2009 ◽  
Vol 8 (3) ◽  
pp. 201-208 ◽  
Author(s):  
Samuel Fankhauser ◽  
David Kennedy ◽  
Jim Skea
Keyword(s):  
Climate Change ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
The Uk ◽  
Carbon Economy
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