Under2 Coalition Membership Grows, Reports Spread Optimism About Renewable Energies
UN Photo/Eskinder Debebe
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Sweden, Mexico and Canada have joined the Under2 Coalition, a group of over 170 jurisdictions committed to achieve zero net greenhouse gas emissions by 2050.

The Global Wind Energy Council reports that global installed wind energy capacity grew by 12.6% in 2016 to 486.8 GW.

A report published by the NewClimate Institute, Allianz Climate Solutions and Germanwatch states that China and India will lead the global renewable energy transition as both countries are scaling up renewable energies to meet their mitigation commitments.

25 April 2017: The Under2 Coalition has welcomed three new members, and reports have brought news on increased renewables capacity, pointing to China and India as emerging leaders in the renewable energy transition. This climate change mitigation update includes news on these developments, which contribute to achieving Sustainable Development (SDG) 7 (clean and affordable energy) and 13 (climate action).

Sweden, Mexico and Canada have joined the Under2 Coalition, a group of over 170 jurisdictions committed to achieve zero net greenhouse gas (GHG) emissions by 2050. The three countries have endorsed the Under2 Memorandum of Understanding (MOU) which establishes that the guiding principle for parties is to limit global warming to less than 2°C compared to pre-industrial levels. Among other commitments, countries agree to undertake specific actions in the areas to energy, traffic and transport, natural resources protection and waste reduction, science and technology, communication and public participation, short-lived climate pollutants (SLCP), and inventory, monitoring, accounting and transparency. While the signatories to the Under2 Coalition are subnational governments, national governments are invited to endorse the Under2 MOU as partners to support efforts by their jurisdiction. Sweden’s endorsement was preceded by the country’s national commitment to phase out GHG emissions by 2045. The secretariat of the Under2 Coalition is hosted by the Climate Group. [Climate Group Press Release] [Under2 Coalition Website] [Under2 Coalition MOU]

The Global Wind Energy Council (GWEC) reports that global installed wind energy capacity grew by 12.6% in 2016 to 486.8 GW. In its annual ‘Global Wind Report: Annual Market Update.’ the Council presents detailed information about the development of wind power in more than 90 countries. The report shows, for example, that wind power penetration levels continue to increase in many countries. Denmark is leading with close to 40% of its electricity derive from wind power, followed by Uruguay and Portugal (well over 20%), Spain and Cyprus (around 20%), Germany (16%) and China, the US and Canada (4-6%). The publication also includes an updated rolling five-year forecast that suggests that cumulative installed capacity will increase to 800GW by 2021 with 75Gw added each year. The study identifies Asia, in particular China, as the main growth market, noting that market fundamentals remain string in Europe and North America. GWEC is he global trade association representing the wind industry. These increases in wind energy capacity will contribute to achieving SDG target 7.2 (By 2030, increase substantially the share of renewable energy in the global energy mix). [GWEC Press Release] [Global Wind Report: Annual Market Update 2017]

The report, titled ‘Deep Dive – What do current policy developments in China, India and the US mean for investing in renewables?’, notes that India and China regularly “overshoot” their climate goals and are well on track to meeting their targets.

In related news, another report identifies China as one of the leaders in renewable energy transition. A report published by the NewClimate Institute, Allianz Climate Solutions and Germanwatch states that China and India will lead the global renewable energy transition as both countries are scaling up renewable energies to meet their mitigation commitments. The report, titled ‘Deep Dive – What do current policy developments in China, India and the US mean for investing in renewables?’, aims to estimate the scale of investments in China, India and the US to achieve the goals of the Paris Agreement. The publication notes that India and China regularly “overshoot” their climate goals and are well on track to meeting their targets, enshrined in their nationally determined contributions (NDCs) under the Paris Agreement. Both countries also seek to phase out coal-generated power generation, with China cancelling already commissioned power plants and India aiming to halt the construction of new coal fired power plants after 2022. The report also finds continued staunch support for renewables in individual US states where wind and solar constituted 60% of new installed capacity in 2016. Regarding future investments, the document states that investments must double in China and the US, and triple in India to keep the targets of the Paris Agreement within reach. The conclusions further suggest that the EU could emerge as the “third pillar” of the energy transformation in case the US falls behind. [UNFCCC Press Release] [NewClimate Institute Press Release] [Deep Dive – What Do Current Policy Developments in China, India and the US Mean for Investing in Renewables?]

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