NZ’s Largest Emitters, Bettering NDCs and Amazon on the Brink
In this issue:
Admin support for CEP office
We’re on the lookout again for more admin support for the office, so if you know anyone who might be interested, please forward them a link to our new job page.
5th GIDI round and briefing webinar
EECA announced the opening of its 5th GIDI round this week. There is a supplier briefing webinar next week (Monday) to introduce the round, which closes on 2nd March next year.
New emissions inventory from Climate TRACE
With COP27 in full swing, there has been no shortage of stories in the nationals this week about the activities and discussions. Picking out some that may not have hit the headlines is tricky but we’ve given it a go.
Coinciding with COP is the release of a new emissions inventory from Climate TRACE. Covering 72,000 emissions sources, such as industrial plants, landfills and airports, data is collected from over 11,000 sensors and 300 satellites. Analysis reveals more than half of the top 50 emitting sites are oil and gas fields and 60% of the top 500 are power plants. The New Zealand map shows airports, landfills and Tiwai as the largest emitters. Interestingly, Huntly doesn’t feature, although this may just be because of the dates of data collection. Apologies for the perspective on the map below but we’ve taken it from a zoomed screenshot. You can explore the global map and download the data here.
92% of 107 developing nations now have time-bound renewables targets
Arguably, developing countries are leading the way in setting clean energy targets and providing investment opportunities. According to a release from Climatescope (BNEF), 92% of 107 developing nations now have time-bound renewables targets lifting them up the rankings for investment opportunities. Market structures and policies supporting the transition still lag more developed countries but improvements are emerging all the time. Globally, investments in renewables, electrified heat and electrified transport reached a record US$644billion (NZ$1,050bn) in 2021, with developing markets seeing the fastest growth, albeit from a lower base.
China, the EU and India will see faster progress towards a clean energy economy than set in their targets and NDCs
Good news is that, seemingly, three of the four largest emitting countries/regions (China, the US, the EU and India), are in positions to better their national commitments. Taking a bottom-up view, the Energy & Climate Intelligence Unit concludes China, the EU and India will see faster progress towards a clean energy economy than set in their targets and NDCs.
34% of the Amazon rainforest has passed at least one tipping point
The effectiveness of the Amazon rainforest as a carbon sink remains in a perilous state, according to the latest update from the WWF. It is reporting 34% of its area has passed at least one tipping point related to rainfall, dry season length or deforestation/change of habitat. Another 2.4 million square kilometres is reported as close to tipping points. The report concludes the forest is close to a situation of degradation beyond restoration and could cease to function as a carbon sequestering ecosystem within the next decade.
COP attendance by the fossil fuel industry is up 25% over last year
Finally for COP, it seems attendance by the fossil fuel industry is up 25% over last year, lead by BP’s Chief Executive, Bernard Looney, who managed to sneak in as part of the official Mauritanian delegation. Where there’s a will.