Connect with us

Economy

Report: Africa Can Quadruple Share of Renewable Energy by 2030

Published

on

The African continent could generate nearly a quarter of its energy needs through the use of indigenous, clean, renewable energy by 2030, according to a new report by the International Renewable Energy Agency (IRENA).

Africa 2030 – a comprehensive roadmap for Africa’s energy transition – finds that a combination of modern renewable technology could realistically meet 22 per cent of Africa’s energy needs by 2030, a more than a four-fold increase from just five per cent in 2013. The report also finds that scaling up modern renewables in Africa is an affordable means to help meet fast-growing energy demand while increasing energy access, improving health and achieving sustainability goals.

“Africa holds some of the best renewable energy resources in the world in the form of biomass, geothermal, hydropower, solar and wind,” said IRENA Director-General Adnan Z. Amin. “This, combined with the precipitous drop of renewable energy technology costs, creates a massive opportunity for African countries to both transform and expand their energy systems while providing a pathway for low-carbon economic growth.”

The report identifies nearly 10 exajoules – the equivalent of more than 341 megatonnes of coal – of options for sustainable development through renewable energy. Roughly 40 per cent of  this energy would be in the power sector. Solar resources are abundant across the continent, while biomass and hydropower potential are more plentiful in the central and southern regions. Wind resources are strongest in the north, east, and southern regions, and geothermal energy is strong in the Great Rift Valley.

Renewable energy capacity additions could increase the share of modern renewables in the power sector to 50 per cent by 2030, reducing carbon dioxide emissions by more than 310 megatonnes. Developing these projects is more cost-effective than ever before, with solar and wind projects across Africa now producing record-low electricity prices.

Roughly 50 per cent of the energy from the recommended options would be through biomass-based heat applications. Half of all energy use in Africa today involves traditional biomass consumption. The report estimates that a shift to modern renewable energy cooking solutions would reduce the use of traditional cook stoves by more than 60 per cent, saving USD 20 to 30 billion annually by 2030 through the reduction of health complications from poor indoor air quality.

“Tapping into renewable energy resources is the only way African nations can fuel economic growth, maximise socio-economic development and enhance energy security with limited environmental impact,” said Mr. Amin. “The technologies are available, reliable and increasingly cost-competitive. The onus is now on Africa’s governments to create conditions to accelerate deployment, paving the way for Africa’s unfettered, sustainable development.”

The report recommends 14 actions to speed the uptake of renewables on the continent, including enabling policies and a regulatory framework to catalyse investment, adopting investment promotion measures, and off-grid renewable energy solutions to increase energy access and reduce poverty.

Africa 2030 is built on a country-by-country assessment of supply, demand, renewable energy potential, and technology prospects. The effort is a part of IRENA’s REmap 2030 programme, which provides a roadmap to double the share of renewable energy in the world’s energy mix by 2030.

The report was released on the sidelines of the South Africa International Renewable Energy Conference, which aims to provide a global platform for government, private sector and civil society leaders to advance renewable energy. The 2015 conference is themed “RE-energising Africa” and seeks to position Africa as the business destination for renewable energy, given its current growth trajectory and need for clean energy investment for sustainable economic growth.

Download the full report.

Economy

Report: Green, Ethical and Socially Responsible Finance

Published

on

“The level of influence that ethical considerations have over consumer selection of financial services products and services is minimal, however, this is beginning to change. Younger consumers are more willing to pay extra for products provided by socially responsible companies.” Jessica Morley, Mintel’s Financial Services Analyst.

Consumer awareness of the impact consumerism has on society and the planet is increasing. In addition, the link between doing good and feeling good has never been clearer. Just 19% of people claim to not participate in any socially responsible activities.

As a result, the level of attention that people pay to the green and ethical claims made by products and providers is also increasing, meaning that such considerations play a greater role in the purchasing decision making process.

However, this is less true in the context of financial services, where people are much more concerned about the performance of a product rather than green and ethical factors. This is not to say, however, that they are not interested in the behaviour of financial service providers or in gaining more information about how firms behave responsibly.

This report focuses on why these consumer attitudes towards financial services providers exist and how they are changing. This includes examination of the wider economy and the current structure of the financial services sector.

Mintel’s exclusive consumer research looks at consumer participation in socially responsible activities, trust in the behaviour of financial services companies and attitudes towards green, ethical and socially responsible financial services products and providers. The report also considers consumer attitudes towards the social responsibilities of financial services firms and the green, ethical and socially responsible nature of new entrants.

There are some elements missing from this report, such as conducting socially responsible finance with OTC trading. We will cover these other topics in more detail in the future. You can research about Ameritrade if you want to know more ..

By this report today: call: 0203 416 4502 | email: iainooson[at]mintel.com

Report contents:

OVERVIEW
What you need to know
Report definition
EXECUTIVE SUMMARY
The market
Ethical financial services providers: A question of culture
Investment power
Consumers need convincing
The transformative potential of innovation
Consumers can demand change
The consumer
For financial products, performance is more important than principle
Competition from technology companies
Financial services firms perceived to be some of the least socially responsible
Repaying the social debt
Consumer trust is built on evidence
What we think
ISSUES AND INSIGHTS
Creating a more inclusive economy
The facts
The implications
Payments innovation helps fundraising go digital
The facts
The implications
The social debt of the financial crisis
The facts
The implications
THE MARKET – WHAT YOU NEED TO KNOW
Ethical financial services providers: A question of culture
Investment power
Consumers need convincing
The transformative potential of innovation
Consumers can demand change
PUTTING FINANCIAL SERVICES IN AN ETHICAL CONTEXT
An ethical economy
An ethical financial sector
Ethical financial services providers
GREEN, ETHICAL AND SOCIALLY RESPONSIBLE ISSUES IN FINANCIAL SERVICES
The role of investing
Divestment
The change potential of pensions
The role of trust
Greater transparency informs decisions
Learning from past mistakes
The role of innovation
Payments innovation: Improving financial inclusion
Competition from new entrants
The power of new money
The role of the consumer
Consumers empowered to make a change
Aligning products with self
THE CONSUMER – WHAT YOU NEED TO KNOW
For financial products, performance is more important than ethics
Financial services firms perceived to be some of the least socially responsible
Competition from technology companies
Repaying the social debt
Consumer trust is built on evidence
Overall trust levels are high
THE ETHICAL CONSUMER – SOCIALLY RESPONSIBLE ACTIVITIES
Payments innovation can boost charitable donations
Consumer engagement in socially responsible activities is high
Healthier finances make it easier to go green
SOCIALLY RESPONSIBLE COMPANIES
37% unable to identify socially responsible companies
Building societies seen to be more responsible than banks….
….whilst short-term loan companies are at the bottom of the pile
CONSUMER TRUST IN THE BEHAVIOUR OF FINANCIAL SERVICES COMPANIES
Overall trust levels are high
Tax avoidance remains a major concern
The divestment movement
Nationwide significantly more trusted
Trust levels remain high
CONSUMER ATTITUDES TOWARDS GREEN AND ETHICAL FINANCIAL PRODUCTS
For financial products, performance is more important than principle
Socially conscious consumers are more concerned
CONSUMER ATTITUDES TOWARDS TRANSPARENCY
Strategy reports provide little insight for consumers
Lack of clarity regarding corporate culture causes concern
Consumers want more information
THE ROLE OF FINANCIAL SERVICES FIRMS IN SOCIETY
The social debt of the financial crisis
THE SOCIAL RESPONSIBILITIES OF FINANCIAL SERVICES FIRMS
For consumers, financial services firms play larger economic role
Promoting financial responsibility
CHALLENGER COMPANIES AND SOCIAL RESPONSIBILITY
Consumer trust is built on evidence
The alternative opportunity
The target customer

Continue Reading

Economy

A Good Look At How Homes Will Become More Energy Efficient Soon

Published

on

By

energy efficient homes

Everyone always talks about ways they can save energy at home, but the tactics are old school. They’re only tweaking the way they do things at the moment. Sealing holes in your home isn’t exactly the next scientific breakthrough we’ve been waiting for.

There is some good news because technology is progressing quickly. Some tactics might not be brand new, but they’re becoming more popular. Here are a few things you should expect to see in homes all around the country within a few years.

1. The Rise Of Smart Windows

When you look at a window right now it’s just a pane of glass. In the future they’ll be controlled by microprocessors and sensors. They’ll change depending on the specific weather conditions directly outside.

If the sun disappears the shade will automatically adjust to let in more light. The exact opposite will happen when it’s sunny. These energy efficient windows will save everyone a huge amount of money.

2. A Better Way To Cool Roofs

If you wanted to cool a roof down today you would coat it with a material full of specialized pigments. This would allow roofs to deflect the sun and they’d absorb less heat in the process too.

Soon we’ll see the same thing being done, but it will be four times more effective. Roofs will never get too hot again. Anyone with a large roof is going to see a sharp decrease in their energy bills.

3. Low-E Windows Taking Over

It’s a mystery why these aren’t already extremely popular, but things are starting to change. Read low-E window replacement reviews and you’ll see everyone loves them because they’re extremely effective.

They’ll keep heat outside in summer or inside in winter. People don’t even have to buy new windows to enjoy the technology. All they’ll need is a low-E film to place over their current ones.

4. Magnets Will Cool Fridges

Refrigerators haven’t changed much in a very long time. They’re still using a vapor compression process that wastes energy while harming the environment. It won’t be long until they’ll be cooled using magnets instead.

The magnetocaloric effect is going to revolutionize cold food storage. The fluid these fridges are going to use will be water-based, which means the environment can rest easy and energy bills will drop.

5. Improving Our Current LEDs

Everyone who spent a lot of money on energy must have been very happy when LEDs became mainstream. Incandescent light bulbs belong in museums today because the new tech cut costs by up to 85 percent.

That doesn’t mean someone isn’t always trying to improve on an already great invention. The amount of lumens LEDs produce per watt isn’t great, but we’ve already found a way to increase it by 25 percent.

Maybe Homes Will Look Different Too

Do you think we’ll come up with new styles of homes that will take off? Surely it’s not out of the question. Everything inside homes seems to be changing for the better with each passing year. It’s going to continue doing so thanks to amazing inventors.

ShutterStock – Stock photo ID: 613912244

Continue Reading
Advertisement

Facebook

Trending