New report showcases opportunities to unlock trade in renewable electricity

November 15, 2024--A new report published today (15 November) by the World Meteorological Organization and the World Trade Organization points to the role that trade can play to help supply meet demand for electricity from renewable sources.

The publication, "Supporting the Renewable Electricity Transition through Trade: Unlocking Re-Globalization Opportunities via Interconnection," notes that cross-border electricity trade is well below its potential for providing the renewable energy needed to help countries meet Paris Agreement climate targets. Less than 3% of electricity generated worldwide is traded across borders, with a relatively low value of some US$ 132 billion in 2023 according to UN Comtrade statistics. There is tremendous scope for growth as cross-border renewable electricity trade can reduce the overall cost of the net zero energy transition, the report states.

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Progress in national climate policy efforts remains insufficient to achieve 2030 targets

November 7, 2024--The global economy is facing mounting challenges amidst the largest energy market shock since the 1970s and the cost-of-living crisis for many households from rising inflation pressures.

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IMF Working Paper-Following the Money: Who is Keeping Coal Alive?

November 1, 2024--Summary
The 2023 United Nations Climate Change Conference reinforced already existing pressure to transition away from fossil fuels, in particular for the most polluting source, coal. We use a comprehensive dataset on bank loans for coal projects to shed light on which type of banks continue to finance coal and how coal phase-out commitments affect coal financing.

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Joint report explores scope for co-ordinated approaches on climate action, carbon pricing, and policy spillovers

October 23, 2024--Five international organisations today released a landmark report that outlines pathways for co, ordinated approaches on climate action, carbon pricing, and the cross, border effects of climate change mitigation policies with a view to achieving global climate goals.

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