India’s 40% power generation capacity now non-fossil based

India has achieved the target of 40 per cent of its installed electricity generation capacity being from non-fossil energy sources, an official statement said on Thursday. At the end of October this year, the Ministry of Power (MoP) reiterated India’s commitment to achieve more than 40 percent cumulative electric power installed capacity from non-fossil-fuel energy

Shipping still falls short on decarbonisation after climate talks

The organisation that regulates shipping made little fresh progress toward decarbonising the industry during a series of meetings last week.  The main outcome from talks hosted by the United Nations’ International Maritime Organization was agreement to revise, in 2023, its decarbonisation strategy – and that wasn’t really new. A non-binding proposal on zero emissions didn’t

IFAs have huge role in global net zero transition: Alok Sharma

COP26 president and Conservative MP Alok Sharma has said financial advisers have a huge role to play in helping developing countries transition from fossil fuels to renewable energy. Speaking to advisers at AJ Bell’s Investival 2021 in London today (18 November), Sharma (pictured) said advisers have a part to play in ensuring money set aside

India needs $10.1 trillion investment to achieve net-zero emission by 2070

India will require a total investment of $10.1 trillion to achieve net-zero emissions by 2070, while the nation could face a shortfall of $3.5 trillion, a study by CEEW Centre for Energy Finance (CEEW-CEF) said. At the recently concluded COP26, Prime Minister Narendra Modi announced India’s aim to achieve net-zero emissions by 2070. “India would

Will Oil Ever Become Truly Worthless?

Could fossil fuels and Big Oil actually become ‘worthless’ within the next few decades, and what would this mean for the global economy? New research suggests as many as half of the world’s fossil fuel assets could become worthless by 2036 if the green energy transition goes ahead at the pace projected coming out of

How much is spent supporting fossil fuels and green energy?

World leaders agreed to phase-out “inefficient” subsidies for fossil fuels at the COP26 climate summit in Glasgow.  Despite pledges to limit support, governments around the world spend more than $420bn (£313bn) each year subsidising the non-renewable energy, according to the UN Development Programme. How do fossil fuel subsidies work and which countries are spending the

COP26 climate pledges could help limit global warming to 1.8 °C

At the COP26 Climate Change Conference taking place in Glasgow, a key question is what do all the new pledges by different countries to reduce emissions mean for global warming? This was a central question we addressed in the IEA’s recent World Energy Outlook 2021 (WEO-2021), and we are continuing to update that analysis. By

20 countries at COP26 promise to end financing for international fossil fuel projects

The international climate conference’s “energy day” dawned with fresh efforts to block the flow of money to fossil fuel companies, as activists brushed aside arguments from corporate leaders of coal, oil and gas firms that they need to help meet the energy needs of consumers over the next three decades. The United States and 20

How whisky waste can replace fossil fuels on road to net-zero

As Glasgow welcomes leaders from around the world to the United Nations climate summit, COP26, the founder of a Scottish biotech company is calling for action, not targets. Professor Martin Tangney’s company, Celtic Renewables, turns left-over waste from whisky-making into the kind of everyday chemicals that are normally made in oil refineries, without drilling for

Global Methane Pledge to put more pressure on LNG fuel proponents

Proponents of LNG as shipping’s interim future fuel will face another barrage today with the White House the latest institution to go on the attack. President Joe Biden is to unveil plans today at COP26, the major international climate summit taking place in Glasgow, to limit global methane emissions by 30% from 2020 levels by