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UK and Chinese governments issue ‘ground-breaking’ climate change pledge

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The UK and Chinese governments have agreed to co-operate to tackle the issues around climate change and energy security, further signalling that UN climate talks next year will be more successful than previous opportunities. The UK government described the statement as “ground-breaking”.

The governments have signed a civil nuclear agreement, which they argue will help diversify the energy mix of both countries while tackling climate change. Additionally, a joint £20m research programme, which will include studies on offshore renewables, low-carbon manufacturing processes and technologies and low-carbon cites, has been launched.

UK energy and climate change secretary Ed Davey said, China and the UK stand united in our plans for more collaborative working that will help to achieve long lasting energy security in our own countries.

”Both governments recognise that tackling climate change is fundamental to our future and have committed to reduce emissions while enhancing energy security by investing in nuclear power.”

The statement adds that the announcements are part of a broader mission to reduce emissions and enhance energy security, central to which will be achieving a “global, legally binding, and ambitious climate change agreement in Paris in 2015”.

Anthony Hobley, CEO of the thinktank the Carbon Tracker Initiative (CTI), commented, “This announcement follows new that China could implement an absolute CO2 cap and a national carbon market in its next five-year plan – a clear indication of their assault on polluting industries and willingness to support a low carbon transition.

“However, as Carbon Tracker’s recent report – The great coal cap: China’s energy policies and the financial implications for thermal coal – shows, naturally this transition will incur stranded assets, particularly for China’s coal sector.”

The CTI report urges investors to assess the risks within their portfolio when peak demand scenarios are considered. It is expected that China’s demand for thermal coal will peak between 2015 and 2030 and is likely to have an impact on the competiveness of coal power.

Hobley added, “Policymakers need to be aware of these implications and take the necessary policy actions to ensure an orderly transition rather than accrue losses while tackling climate change.”

The China-UK agreement follows China, the world’s biggest polluter, announcing its intention to set legal limits on carbon dioxide emissions starting from 2016. The news came just a day after Barack Obama unveiled plans to cut pollution from US power plants.

Alastair Harper, the Green Alliance’s head of politics, commented, “It’s significant that the prime minister is working with the Chinese premier to achieve a global climate deal. It would seem that David Cameron has firmly rejected Tony Abbott’s recent invitation to join the naughty table on slowing climate action.

“Given that a deal is now clearly both the United States’ and China’s top diplomatic priority, we have chosen the right company for our economy and place in the world.”

Photo: Lennart Tange via Flickr 

Further reading:

China blames climate change for £41bn natural disaster bill

Thermal coal investments ‘high risk strategy’, say analysts

China announces 2016 emissions cap after new US power plant restrictions

Investors worth $800bn back Obama’s US emissions reduction plan

US move to cut emissions will deliver private investment ‘certainty’

Energy

7 New Technologies That Could Radically Change Our Energy Consumption

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Energy Consumption
Shutterstock Licensed Photo - By Syda Productions | https://www.shutterstock.com/g/dolgachov

Most of our focus on technological development to lessen our environmental impact has been focused on cleaner, more efficient methods of generating electricity. The cost of solar energy production, for example, is slated to fall more than 75 percent between 2010 and 2020.

This is a massive step forward, and it’s good that engineers and researchers are working for even more advancements in this area. But what about technologies that reduce the amount of energy we demand in the first place?

Though it doesn’t get as much attention in the press, we’re making tremendous progress in this area, too.

New Technologies to Watch

These are some of the top emerging technologies that have the power to reduce our energy demands:

  1. Self-driving cars. Self-driving cars are still in development, but they’re already being hailed as potential ways to eliminate a number of problems on the road, including the epidemic of distracted driving ironically driven by other new technologies. However, even autonomous vehicle proponents often miss the tremendous energy savings that self-driving cars could have on the world. With a fleet of autonomous vehicles at our beck and call, consumers will spend less time driving themselves and more time carpooling, dramatically reducing overall fuel consumption once it’s fully adopted.
  2. Magnetocaloric tech. The magnetocaloric effect isn’t exactly new—it was actually discovered in 1881—but it’s only recently being studied and applied to commercial appliances. Essentially, this technology relies on changing magnetic fields to produce a cooling effect, which could be used in refrigerators and air conditioners to significantly reduce the amount of electricity required.
  3. New types of insulation. Insulation is the best asset we have to keep our homes thermoregulated; they keep cold or warm air in (depending on the season) and keep warm or cold air out (again, depending on the season). New insulation technology has the power to improve this efficiency many times over, decreasing our need for heating and cooling entirely. For example, some new automated sealing technologies can seal gaps between 0.5 inches wide and the width of a human hair.
  4. Better lights. Fluorescent bulbs were a dramatic improvement over incandescent bulbs, and LEDs were a dramatic improvement over fluorescent bulbs—but the improvements may not end there. Scientists are currently researching even better types of light bulbs, and more efficient applications of LEDs while they’re at it.
  5. Better heat pumps. Heat pumps are built to transfer heat from one location to another, and can be used to efficiently manage temperatures—keeping homes warm while requiring less energy expenditure. For example, some heat pumps are built for residential heating and cooling, while others are being used to make more efficient appliances, like dryers.
  6. The internet of things. The internet of things and “smart” devices is another development that can significantly reduce our energy demands. For example, “smart” windows may be able to respond dynamically to changing light conditions to heat or cool the house more efficiently, and “smart” refrigerators may be able to respond dynamically to new conditions. There are several reasons for this improvement. First, smart devices automate things, so it’s easier to control your energy consumption. Second, they track your consumption patterns, so it’s easier to conceptualize your impact. Third, they’re often designed with efficiency in mind from the beginning, reducing energy demands, even without the high-tech interfaces.
  7. Machine learning. Machine learning and artificial intelligence (AI) technologies have the power to improve almost every other item on this list. By studying consumer patterns and recommending new strategies, or automatically controlling certain features, machine learning algorithms have the power to fundamentally change how we use energy in our homes and businesses.

Making the Investment

All technologies need time, money, and consumer acceptance to be developed. Fortunately, a growing number of consumers are becoming enthusiastic about finding new ways to reduce their energy consumption and overall environmental impact. As long as we keep making the investment, our tools to create cleaner energy and demand less energy in the first place should have a massive positive effect on our environment—and even our daily lives.

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Energy

Responsible Energy Investments Could Solve Retirement Funding Crisis

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Energy Investments
Shutterstock / By Sergey Nivens | https://www.shutterstock.com/g/nivens

Retiring baby-boomers are facing a retirement cliff, at the same time as mother nature unleashes her fury with devastating storms tied to the impact of global warming. There could be a unique solution to the challenges associated with climate change – investments in clean energy from retirement funds.

Financial savings play a very important role in everyone’s life and one must start planning for it as soon as possible. It’s shocking how quickly seniors can burn through their nest egg – leaving many wondering, “How long your retirement savings will last?

Let’s take a closer look at how seniors can take baby steps on the path to retiring with dignity, while helping to clean up our environment.

Tip #1: Focus & Determination

Like in other work, it is very important to focus and be determined. If retirement is around the corner, then make sure to start putting some money away for retirement. No one can ever achieve anything without dedication and focus – whether it’s saving the planet, or saving for retirement.

Tip #2: Minimize Spending

One of the most important things that you need to do is to minimize your expenditures. Reducing consumption is good for the planet too!

Tip #3: Visualize Your Goal

You can achieve more if you have a clearly defined goal in life. This about how your money can be used to better the planet – imagine cleaner air, water and a healthier environment to leave to your grandchildren.

Investing in Clean Energy

One of the hottest and most popular industries for investment today is the energy market – the trading of energy commodities. Clean energy commodities are traded alongside dirty energy supplies. You might be surprised to learn that clean energy is becoming much more competitive.

With green biz becoming more popular, it is quickly becoming a powerful tool for diversified retirement investing.

The Future of Green Biz

As far as the future is concerned, energy businesses are going to continue getting bigger and better. There are many leading energy companies in the market that already have very high stock prices, yet people are continuing to investing in them.

Green initiatives are impacting every industry. Go Green campaigns are a PR staple of every modern brand. For the energy-sector in the US, solar energy investments are considered to be the most accessible form of clean energy investment. Though investing in any energy business comes with some risks, the demand for energy isn’t going anywhere.

In conclusion, if you want to start saving for your retirement, then clean energy stocks and commodity trading are some of the best options for wallets and the planet. Investing in clean energy products, like solar power, is a more long-term investment. It’s quite stable and comes with a significant profit margin. And it’s amazing for the planet!

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