Global Wind Day: Celebrate Renewables and Demand an End to Fossil Fuel Subsidies
According to two new reports on the global status of renewable energy, the industry posted strong rates of investment and new installation in 2012, proving itself as more than an alternative source of energy.
The world’s economies, however, continue to spend $6 subsidizing fossil fuels for every $1 spent to support the growth renewable energy.
Global Wind Day, tomorrow, June 15, is an opportunity to highlight this harmful disparity just ahead of the G8 summit in the UK. These major economies, as members of the G20, pledged in 2009 to "phase out and rationalize over the medium term inefficient fossil fuel subsidies while providing targeted support for the poorest"—a much applauded decision that has yet to see significant follow-through.
Not only do these subsidies continue to sponsor the activities that cause climate change, but they work against the creation of stable government support for the renewable energy industry. The lack of reliable, long term support for renewables creates uncertainty that holds back the potential of the industry.
Despite uncertainty, however, the industry has achieved striking successes so far.
The promising trends seen in the industry were reported by two sister publications, REN21’s Renewables 2013 Global Status Report and Frankfurt School–United Nations Environment Programme/Bloomberg New Energy Finance’s Global Trends in Renewable Energy Investment 2013, launched together June 12, 2013.
The publications report that 2012 was the second highest year ever for renewable energy investments, totaling $1.3 trillion since 2006. Additionally, the installation of new renewable energy continues to grow, adding new, clean energy capacity both on and off the grid.
This growth isn’t limited to developed nations—in fact, developing nations are quickly rising to the top of this burgeoning industry. In 2012, renewable energy investments in developing nations totaled $112 billion, just shy of the $132 billion invested in developed nations. This is a dramatic shift from 2007, when developed nations invested 2.5 times more in the industry.
The sector employs an estimated 5.7 million people worldwide, with high rates of employment in Brazil, China, India, the European Union and the U.S. Green jobs are also growing in other nations, with an increasing number of technicians and sales staff in off-grid sectors of the developing world. In Bangladesh for example, selling, installing and maintaining small solar panels employs 150,000 people directly and indirectly.
Amongst the good news, the publications point out that 2012 investment rates were down from their 2011 high. Examples of contributing factors to the decline include a 34 percent drop in the U.S. as well as similar decreases in Italy and Spain due to policy uncertainties.
In Japan, however, new feed-in tariffs for installations contributed to a 73 percent spike in renewable investment. Japan is now on track to the world’s largest solar market. In only seven months following the introduction of the tariffs, the Japanese Ministry of Economy, Trade and Industry approved 12,258 mega watts of solar projects.
Policy uncertainty led to an overall decline in investments—but as the success of Japan’s tariffs shows, the decline can be temporary. REN21’s report demonstrates that the right policies can drive the successful integration of larger shares of renewables.
Shifting policy priorities to bolster the growth of the renewable energy sector, not just for providing economic growth but also for advancing the clean solutions needed to fight climate change, is vital for the future. The first step in showing serious commitment to do so will be cutting down harmful fossil fuel subsidies.
Visit EcoWatch’s RENEWABLES page for more related news on this topic.
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Wisdom the mōlī, or Laysan albatross, is the oldest wild bird known to science at the age of at least 70. She is also, as of February 1, a new mother.
<div id="dadb2" class="rm-shortcode" data-rm-shortcode-id="aa2ad8cb566c9b4b6d2df2693669f6f9"><blockquote class="twitter-tweet twitter-custom-tweet" data-twitter-tweet-id="1357796504740761602" data-partner="rebelmouse"><div style="margin:1em 0">🚨Cute baby alert! Wisdom's chick has hatched!!! 🐣😍 Wisdom, a mōlī (Laysan albatross) and world’s oldest known, ban… https://t.co/Nco050ztBA</div> — USFWS Pacific Region (@USFWS Pacific Region)<a href="https://twitter.com/USFWSPacific/statuses/1357796504740761602">1612558888.0</a></blockquote></div>
By Hui Hu
Winter is supposed to be the best season for wind power – the winds are stronger, and since air density increases as the temperature drops, more force is pushing on the blades. But winter also comes with a problem: freezing weather.
Comparing rime ice and glaze ice shows how each changes the texture of the blade. Gao, Liu and Hu, 2021, CC BY-ND
Ice buildup changes air flow around the turbine blade, which can slow it down. The top photos show ice forming after 10 minutes at different temperatures in the Wind Research Tunnel. The lower measurements show airflow separation as ice accumulates. Icing Research Tunnel of Iowa State University, CC BY-ND
While traditional investment in the ocean technology sector has been tentative, growth in Israeli maritime innovations has been exponential in the last few years, and environmental concern has come to the forefront.
theDOCK aims to innovate the Israeli maritime sector. Pexels<p>The UN hopes that new investments in ocean science and technology will help turn the tide for the oceans. As such, this year kicked off the <a href="https://www.oceandecade.org/" target="_blank" rel="noopener noreferrer">United Nations Decade of Ocean Science for Sustainable Development (2021-2030)</a> to galvanize massive support for the blue economy.</p><p>According to the World Bank, the blue economy is the "sustainable use of ocean resources for economic growth, improved livelihoods, and jobs while preserving the health of ocean ecosystem," <a href="https://www.sciencedirect.com/science/article/pii/S0160412019338255#b0245" target="_blank" rel="noopener noreferrer">Science Direct</a> reported. It represents this new sector for investments and innovations that work in tandem with the oceans rather than in exploitation of them.</p><p>As recently as Aug. 2020, <a href="https://www.reutersevents.com/sustainability/esg-investors-slow-make-waves-25tn-ocean-economy" target="_blank" rel="noopener noreferrer">Reuters</a> noted that ESG Investors, those looking to invest in opportunities that have a positive impact in environmental, social and governance (ESG) issues, have been interested in "blue finance" but slow to invest.</p><p>"It is a hugely under-invested economic opportunity that is crucial to the way we have to address living on one planet," Simon Dent, director of blue investments at Mirova Natural Capital, told Reuters.</p><p>Even with slow investment, the blue economy is still expected to expand at twice the rate of the mainstream economy by 2030, Reuters reported. It already contributes $2.5tn a year in economic output, the report noted.</p><p>Current, upward <a href="https://www.ecowatch.com/-innovation-blue-economy-2646147405.html" target="_self">shifts in blue economy investments are being driven by innovation</a>, a trend the UN hopes will continue globally for the benefit of all oceans and people.</p><p>In Israel, this push has successfully translated into investment in and innovation of global ports, shipping, logistics and offshore sectors. The "Startup Nation," as Israel is often called, has seen its maritime tech ecosystem grow "significantly" in recent years and expects that growth to "accelerate dramatically," <a href="https://itrade.gov.il/belgium-english/how-israel-is-becoming-a-port-of-call-for-maritime-innovation/" target="_blank" rel="noopener noreferrer">iTrade</a> reported.</p><p>Driving this wave of momentum has been rising Israeli venture capital hub <a href="https://www.thedockinnovation.com/" target="_blank" rel="noopener noreferrer">theDOCK</a>. Founded by Israeli Navy veterans in 2017, theDOCK works with early-stage companies in the maritime space to bring their solutions to market. The hub's pioneering efforts ignited Israel's maritime technology sector, and now, with their new fund, theDOCK is motivating these high-tech solutions to also address ESG criteria.</p><p>"While ESG has always been on theDOCK's agenda, this theme has become even more of a priority," Nir Gartzman, theDOCK's managing partner, told EcoWatch. "80 percent of the startups in our portfolio (for theDOCK's Navigator II fund) will have a primary or secondary contribution to environmental, social and governance (ESG) criteria."</p><p>In a company presentation, theDOCK called contribution to the ESG agenda a "hot discussion topic" for traditional players in the space and their boards, many of whom are looking to adopt new technologies with a positive impact on the planet. The focus is on reducing carbon emissions and protecting the environment, the presentation outlines. As such, theDOCK also explicitly screens candidate investments by ESG criteria as well.</p><p>Within the maritime space, environmental innovations could include measures like increased fuel and energy efficiency, better monitoring of potential pollution sources, improved waste and air emissions management and processing of marine debris/trash into reusable materials, theDOCK's presentation noted.</p>
theDOCK team includes (left to right) Michal Hendel-Sufa, Head of Alliances, Noa Schuman, CMO, Nir Gartzman, Co-Founder & Managing Partner, and Hannan Carmeli, Co-Founder & Managing Partner. Dudu Koren<p>theDOCK's own portfolio includes companies like Orca AI, which uses an intelligent collision avoidance system to reduce the probability of oil or fuel spills, AiDock, which eliminates the use of paper by automating the customs clearance process, and DockTech, which uses depth "crowdsourcing" data to map riverbeds in real-time and optimize cargo loading, thereby reducing trips and fuel usage while also avoiding groundings.</p><p>"Oceans are a big opportunity primarily because they are just that – big!" theDOCK's Chief Marketing Officer Noa Schuman summarized. "As such, the magnitude of their criticality to the global ecosystem, the magnitude of pollution risk and the steps needed to overcome those challenges – are all huge."</p><p>There is hope that this wave of interest and investment in environmentally-positive maritime technologies will accelerate the blue economy and ESG investing even further, in Israel and beyond.</p>
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