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Carbon Prices now Apply to Over a Fifth of Global Greenhouse Gases
May 25, 2021- A total of 64 carbon pricing instruments are now in operation around the world, covering over 20% of global greenhouse gas emissions and generating $53 billion in revenue. According to the World Bank's annual "State and Trends of Carbon Pricing" report released today, these advances represent a 17% increase in revenue from last year, However the full potential of carbon pricing remains largely untapped.
Revenue growth is driven mainly by the rise in EU allowance prices- a program that caps emissions, requiring countries that exceed these limits to purchase additional allowances. Emissions trading systems have been also largely resilient to reduced economic activity during the COVID-19 pandemic, and likely helped by their price or supply adjustment mechanisms.
view the State & Trends of Carbon Pricing 2021
Renewable energy jumped nearly 50% in 2020
May 20, 2021--Amidst the global pandemic, 278 gigawatts of renewable energy was added last year.
This was a 45% increase from the year before and the biggest increase in over 20 years.
The IEA attributes the boom to policy decisions in the United States, China and Vietnam.
Renewable power generation grew at the fastest rate for two decades in 2020 according to a new report from the International Energy Agency. 278 gigawatts of capacity was added last year, a 45 percent jump and the largest year-over-year increase since 1999. The growth was even more impressive given that it occurred in the midst of pandemic-induced supply chain challenges and construction delays.
The exceptional level of renewable energy capacity additions is expected to be maintained with 270 GW forecast to become operational in 2021 while 280 GW is predicted for 2022.
World Economic Forum-Half of global GDP at risk due to nature loss, analyst says
May 20, 2021--Over half of the world's GDP is at risk due to nature loss. Akanksha Khatri, Head of the Nature Action Agenda at the World Economic Forum outlines 5 reasons why biodiversity matters to securing jobs, health and the economy ahead of International Biodiversity Day.
Key points:
Biodiversity is declining fast than at any other time in history and this has grave consequences on our livelihoods, health and prosperity.
Over half of the world's GDP is at risk due to nature loss and further encroachment into natural ecosystems increases the risk of future socioeconomic shocks such as pandemics.
According to a recent World Economic Forum report, transitioning towards nature-positive economic models in key sectors could provide almost 400 million jobs and over $10 trillion in annual business value by 2030.
Pathway to critical and formidable goal of net-zero emissions by 2050 is narrow but brings huge benefits, according to IEA special report
May 18, 2021--World's first comprehensive energy roadmap shows government actions to rapidly boost clean energy and reduce fossil fuel use can create millions of jobs, lift economic growth and keep net zero in reach. The world has a viable pathway to building a global energy sector with net-zero emissions in 2050, but it is narrow and requires an unprecedented transformation of how energy is produced, transported and used globally, the International Energy Agency said in a landmark special report released today.
Climate pledges by governments to date-even if fully achieved -would fall well short of what is required to bring global energy-related carbon dioxide (CO2) emissions to net zero by 2050 and give the world an even chance of limiting the global temperature rise to 1.5 °C, according to the new report, Net Zero by 2050: a Roadmap for the Global Energy Sector.
view the IEA Net Zero by 2050 A Roadmap for the Global Energy Sector report
The World Economy Is Suddenly Running Low on Everything
May 17, 2021--'It is anything but efficient or normal.' Surging corporate demand is upending global supply chains.
A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying.
Today, on the rebound, it's companies furiously trying to stock up.
Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out.
Tesla will no longer accept Bitcoin over climate concerns, says Musk
May 14, 2021--Tesla has suspended vehicle purchases using Bitcoin due to climate change concerns, its CEO Elon Musk said in a tweet.
Bitcoin fell by more than 10% after the tweet, while Tesla shares also dipped.
Tesla's announcement in March that it would accept the cryptocurrency was met with an outcry from some environmentalists and investors.
The electric carmaker had in February revealed it had bought $1.5bn (£1bn) of the world's biggest digital currency.
ETFGI reports assets invested in ETFs and ETPs listed in United States broke through the US$ 6 trillion milestone at the end of April 2021
May 14, 2021-- ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reports assets invested in ETFs and ETPs listed in United States broke though the US$ 6 trillion milestone at the end of April. ETFs and ETPs listed in US gained net inflows of US$76.79 billion during April, bringing year-to-date net inflows to a record US$329.03 billion.
Assets invested in the US ETFs and ETPs industry have increased by 5.1%, from US$5.91 trillion at the end of March, to US$6.21 trillion, according to ETFGI's April 2021 US ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
Assets break through the $6 tillion milestone to a record $6.21 trillion invested in ETFs and ETPs listed in US at the end of April.
Net inflows of $76.79 Bn during April
Record YTD net inflows of $329.03 Bn beating the prior record of $169.67 Bn gathered YTD in 2017.
19 months of consecutive net inflows
ETFGI reports assets invested in ETFs and ETPs listed globally reached of US$8.95 trillion at the end of April 2021
May 12, 2021-- ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reported today that ETFs and ETPs listed globally gathered net inflows of US$105.37 billion during April, bringing year-to-date net inflows to a record US$465.41 billion which is higher than the prior record US$184.04 billion which was gathered at this point last year.
Assets invested in the global ETFs and ETPs industry have increased by 4.6% from US$8.56 trillion at the end of March 2021, to US$8.96 trillion at the end of April, according to ETFGI's April 2021 Global ETFs and ETPs industry landscape insights report, a monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)
Highlights
A record $8.95 trillion invested in ETFs and ETPs listed globally at the end of April
Net inflows of $105.37 billion gathered in April
Record YTD net inflows of $465.41 Bn beating the prior record $184.04 billion gathered YTD in 2020
23rd month of consecutive net inflows
What's the 'bullwhip effect' and how can we avoid crises like the global chip shortage?
May 12, 2021--An ongoing shortage of semiconductors has had profound impacts.
The current scarcity has been described as a result of the 'bullwhip effect.'
Experts say there are ways to mitigate the phenomenon, which can snarl global trade.
It started with diapers.
Babies were doing their part by steadily blazing through pairs of Pampers. But the maker of the disposable products realized in the 1990s it was enduring fluctuations in demand that hit harder the further one moved up the supply chain, from tiny consumer to manufacturer. The problem was dubbed the "bullwhip effect."
We're currently receiving a crash course in the bullwhip effect, trade dynamics and supply-chain risk thanks to a global semiconductor shortage.
In this case it's not Pampers that are potentially in short supply, but the stunningly wide array of things we now rely on that require chips.
The global auto industry is expected to make as many as five million fewer cars this year than anticipated due to the scarcity, and buying a big SUV could cost at least 20% more than it would have last year. The shortage is expected to take as much as a $4 billion bite out of Apple's quarterly sales due to supply constraints on iPads and Macs, and Samsung cited a "serious imbalance" in global supply and demand for chips while warning it might delay the launch of a new phone.
Renewable Energy Growth Rate Up 45% Worldwide In 2020; IEA Sees 'New Normal'
May 11, 2021--Despite the pandemic, the growth rate in the world's, renewable energy capacity jumped 45% in 2020, part of "an unprecedented boom" in wind and solar energy, according to a new report from the International Energy Agency. It's the largest annual rate of increase since 1999.
"An exceptional 90% rise in global wind capacity additions led the expansion," the report states. It also cites a 23% expansion in new solar power installations.
In 2020, renewable power was "the only energy source for which demand increased ... while consumption of all other fuels declined," says the IEA, whose mission is to make the world's energy supply more reliable, affordable and sustainable.
The IEA predicts large capacity gains in renewable energy will become the "new normal" in 2021 and 2022, with increases similar to 2020's record total.