Climate Action 2014-2015

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MITIGATION AND ADAPTATION "There has been a growth in interest among electricity utilities in shaping a business adaptation response." increased substantially. This decarbonisation will involve shifting away from fossil fuels and doubling the investments in lowcarbon technologies such as renewables, nuclear and energy efficiency. In order to ensure that the necessary investments are made, there needs to be a clear outcome in the climate change negotiations since this will necessarily impact on key investment decisions in new energy infrastructures. WEC’s World Energy Trilemma report points out that there will be financial implications arising from stronger climate policies. These will be mixed across the energy industry. For example, under a 2 ˚C trajectory, net revenues for existing nuclear and renewablesbased power plants would be boosted by US$1.8 trillion through to 2035, while the revenues from existing coalfired plants would decline by a similar level. Of new fossil-fuelled plants, 8 per cent would be retired before their investment is fully recovered. Looking to oil and gas, it is estimated that no oil or gas field currently in production would need to shut down prematurely. However, some fields will not be able to be developed before 2035, and 5-6 per cent of proven oil and gas reserves do not start to recover their exploration costs in this time-frame. Further out in time, research has estimated that between 60-80 per cent of coal, oil and gas reserves of publicly listed companies are ‘unburnable’ if a global warming of 2 ˚C is to be avoided. THE IMPACT OF EXTREME WEATHER The energy industry is not just a major contributor to climate change but a sector that climate change will disrupt. For example, as the IPCC points out, the oil and gas industry is likely to suffer from increased disruption and production shutdowns due to extreme weather events affecting both offshore and onshore facilities. Power plants and transmission infrastructures, especially those in coastal areas, will be affected by extreme weather events and rising sea levels. In a poll of power utilities to be presented in Lima at COP20 as part of the Global Electricity Initiative (GEI, of which WEC is a partner along with the World Business Council for Sustainable Development and Global Sustainable Electricity Partnership) it was revealed that 72 per cent of companies indicate that extreme weather events have severely affected their operations and infrastructure and have already caused power outages at least once in the last ten years. Critical energy transport infrastructure is at risk. Electricity grids will be impacted by storms, and the rise in global temperature may affect electricity generation including thermal and hydroelectric stations in some locations. In general, the industry has options for adapting to climatic changes, but at huge costs. Extreme weather events such as Hurricane Sandy in 2012, which inflicted about US$60bn in damage in the northeast of the United States, is evidence of the need for an amplified focus on adaptation by many power companies. As a result, we see that in recent years there has been a growth in interest among electricity utilities in shaping a business adaptation response to climate change. Most of the companies in the GEI use weather and climate forecasting to ensure reliability of supply and continuity of operations. Being able to adjust rapidly and nimbly to climate variability and climate change is a key feature of what are termed more resilient approaches to climate change. Such utilities have been forced to make significant investments to increase the robustness of systems and lines previously impaired due to extreme weather conditions, and to incorporate this thinking into future infrastructural concerns. They are also working on changing the design and technical specifications of infrastructure, and investing in climate change research including forecasting systems and climate modelling; and installing early warning systems. Energy ministers need to be at the centre of the climate change negotiations. WEC through its events and network of leaders at a national level continues its work to make sure energy leaders put the environment at the top of their agenda and contribute to building the national frameworks that will contribute to finding a global agreement in 2015. Lima absolutely needs to take a positive step towards a final accord in Paris in 2015. Marie-José Nadeau is Chair of the World Energy Council. Her experience as a senior corporate executive has given her an understanding of the complex issues facing the energy sector today, the ability to build consensus and collaboration among members and to advance the highest ethical standards for WEC. She has been a member of the leadership team of Hydro-Québec for 20 years and is currently Executive Vice President, Corporate Affairs & Secretary General. Before joining Hydro, she held various strategic positions within the Governments of Canada and Québec. She is also a past Chair of the Board of Directors of the Canadian Electricity Association. She is a past Vice-chair of the Energy Council of Canada. The World Energy Council (WEC) is the principal impartial network of leaders and practitioners promoting an affordable, stable and environmentally sensitive energy system for the greatest benefit of all. Formed in 1923, WEC is the UN-accredited global energy body, representing the entire energy spectrum, with more than 3000 member organisations located in over 90 countries and drawn from governments, private and state corporations, academia, NGOs and energyrelated stakeholders. 62
MITIGATION AND ADAPTATION SUNNY LATIN AMERICA: A PROMISING NEW FRONTIER FOR SOLAR By Maria Gabriela da Rocha Oliveira, Business Development Manager – Brazil, First Solar solar energy that is cost competitive with fossil fuels a reality. The time for solar energy is now. There is a source of energy that begins and ends each day. A source that is sustainable and more affordable than ever before. The time for solar energy is now. Latin America is breaking the established paradigm of solar being a subsidy-driven market. From Chile, Brazil, and Mexico to the smaller economies of Central America, solar is being developed without specific policy incentives. Utility-scale and distributed solar are poised to grow in this heterogeneous region as power prices spike and system costs decline – and the need to diversify away from large-scale hydro and fossil fuels becomes ever more pressing. Since its founding in 1999, First Solar has been leading the charge to affordable solar electricity on a global scale. In 2009, First Solar was the first solar company to break the $1/watt manufacturing cost barrier and to produce 1GW in a single year. Since then, the company continues to push boundaries across the entire solar value chain and across diverse regions to make Northern Chile boasts one of the highest irradiation levels in the world and Chilean firms are hungry for power. This year, First Solar broke ground on the 141MW Luz del Norte photovoltaic (PV) plant near Copiapó in northern Chile. Once it is operational, Luz del Norte will be the largest PV project in Latin America. This large-scale plant, equipped with our proprietary power plant control system, will help actively stabilise the Chilean electricity grid while helping the Chilean government meet its renewable energy expansion capacity target of 20 per cent by 2025. REPLACING FOSSIL FUEL Countries in Central America rely heavily on fossil fuel imports for electricity generation. This situation is unsustainable from an economic and environmental standpoint. Our hybrid system solutions reduce liquid fuel dependence and the risk of fuel price volatility in regions like Central America. On 31 October 2014, the Brazilian government tendered close to 900MW of solar power purchase agreements (PPAs) to developers interested in building utility-scale solar projects without subsidies. Today, renewable energy in Brazil is not seen as an alternative source of power, it is seen as mainstream – thanks to the government sponsored reverse power tenders. TAKING ENERGY FORWARD At First Solar, we are taking energy forward – and making solar mainstream – with innovative solutions that are cost competitive with conventional energy sources, while catering to the different needs of each of the markets we do business in. We seek to uncover solutions in each of these promising markets to address their diverse energy needs. First Solar seeks to enable a world powered by clean, affordable solar electricity. www.firstsolar.com climateactionprogramme.org 63
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CONTENTS 6/ FOREWORD Achim Steiner,
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WARNING SHOT 35,000 walruses were f
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FOREWORD By Achim Steiner, UN Under
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SUPPORTERS THANKS TO OUR SUPPORTERS
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www.cemig.com.br Cemig knows that t
Page 14 and 15: "I want to inspire my generation to
Page 16 and 17: Combating climate change SUPPORTING
Page 18 and 19: THE FUTURE IS PRICELESS - WE HAVE T
Page 20 and 21: COP 20 AND BEYOND Peru has a plan t
Page 22 and 23: COP 20 AND BEYOND NEW COMMITMENT TO
Page 24 and 25: COP 20 AND BEYOND TECHNOLOGY: A KEY
Page 26 and 27: CLIMATE FINANCE CLIMATE FINANCE AND
Page 28 and 29: CLIMATE FINANCE by the time COP21 t
Page 30 and 31: THE EUROPEAN INVESTMENT BANK, UNLOC
Page 32 and 33: CLIMATE FINANCE PRICING CARBON IN C
Page 34 and 35: CLIMATE FINANCE "President Bachelet
Page 36 and 37: CLIMATE FINANCE "It is imperative t
Page 38 and 39: CLIMATE FINANCE Concentrating Solar
Page 40 and 41: NAFINSA, PROVIDING DEVELOPMENT FINA
Page 42 and 43: CLIMATE FINANCE ageing infrastructu
Page 44 and 45: CLIMATE FINANCE WBCSD’s Sustainab
Page 46 and 47: CLIMATE FINANCE GEARING UP CLIMATE
Page 48 and 49: CLIMATE FINANCE Robeco launched Asi
Page 50 and 51: CAIXA ECONÔMICA FEDERAL: SUSTAINAB
Page 52 and 53: CLIMATE FINANCE PRECON ENGENHARIA I
Page 54 and 55: MITIGATION AND ADAPTATION The Brazi
Page 56 and 57: CATALYSING TRANSFORMATIONAL CHANGE
Page 58 and 59: MITIGATION AND ADAPTATION China inc
Page 60 and 61: THE CRESCENT DUNES PROJECT: CONCENT
Page 62 and 63: MITIGATION AND ADAPTATION ENERGY AT
Page 66 and 67: COLOMBIA’S PRODUCTIVE TRANSFORMAT
Page 68 and 69: SUSTAINABLE AGRICULTURAL MECHANISAT
Page 70 and 71: MITIGATION AND ADAPTATION HUNGER-FR
Page 72 and 73: MITIGATION AND ADAPTATION design an
Page 74 and 75: FOOD WASTE: CREATING A BETTER WAY F
Page 76 and 77: MITIGATION AND ADAPTATION TACKLING
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Page 82 and 83: MITIGATION AND ADAPTATION will save
Page 84 and 85: RESILIENT CITIES CITIES ARE LEADING
Page 86 and 87: RESILIENT CITIES The potential for
Page 88 and 89: RESILIENT CITIES The underground re
Page 90 and 91: RESILIENT CITIES ADDRESSING CLIMATE
Page 92 and 93: RESILIENT CITIES Addressing the cha
Page 94 and 95: RESILIENT CITIES ones, and existing
Page 96 and 97: PERU 2021: A CREATIVE SUPPORT FOR V
Page 98 and 99: DRIVING THE FUTURE OF (E-) MOBILITY
Page 100 and 101: RESILIENT CITIES SMARTER CARS IN SM
Page 102 and 103: RESILIENT CITIES and smarter roads
Page 104 and 105: GREEN OUR WORLD INDUSTRIES: EMPTYIN
Page 106 and 107: RESILIENT CITIES GLOBAL PARTNERSHIP
Page 108 and 109: RESILIENT CITIES WORLD CITY DATA Th
Page 110 and 111: RESILIENT CITIES DOUBLING THE EFFIC
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CLIMATE STRATEGY: CHALLENGES AND AC
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SUPPORT SERVICES FOR CLIMATE CHANGE
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DEFORESTATION AND REDD+ "In each of
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POWER GENERATION FOR A SUSTAINABLE
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DEFORESTATION AND REDD+ THE FUTURE
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DEFORESTATION AND REDD+ forests; th
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DEFORESTATION AND REDD+ "We must se
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CLIMATE-KIC: HOW OPEN INNOVATION AD
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DEFORESTATION AND REDD+ for ensurin
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DEFORESTATION AND REDD+ Meeting the
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BMW i Sheer Driving Pleasure
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Climate Action 2014-2015

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