Will they make the most of the Green Recovery?

Just a year before the rearranged United Nations Climate Change Conference (COP26), to be held in Glasgow, the City of London Corporation, in collaboration with the Green Finance Institute, and supported by the World Economic Forum, is hosting a major summit focusing on the role of green finance in the recovery from COVID-19.

The virtual summit taking place in London between 9 – 11 November is focusing on the role of financial services in supporting a green recovery and an economy-wide transition to net zero. It will also explore how capital can be mobilised at the pace and scale needed to meet not only the UK’s commitment to net-zero emissions by 2050 but also international climate commitments.

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Making the Energy Transition

Liaising with the Ace Steering Group, our Energy working group provides a forum for discussion of alternative energy options and will be discussing Sandy’s proposals at its meeting this evening. ACE is pleased to provide a platform for these discussions which are exploring how the community can develop energy plans employing a mix of renewable technologies with some local storage to ensure continuity of supply. If there is enough local support for these ideas, the aim is to set up a group, independent of Ace, to progress them.  Sandy develops his ideas in this posting.

Barry White Secretary.

Why do we need an energy transition?

Sandy Tod writes.

Our electricity supply, built after the end of World War 2, comprised a number of large thermal power stations, initially exploiting indigenous coal reserves as fuel, later backed up by North Sea gas. The National Grid distributed electrical energy originally from the coal face and ultimately from North Sea gas fields, throughout the country. When indigenous fuel reserves ran out, coal, oil and gas supplies were imported to fuel the same system, with little change to the National Grid’s supply network.

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Sign up to support the campaign to divest from fossil fuels

Fossil Free North Yorkshire is stepping up its campaign to persuade North Yorkshire County Council Pension Fund to divest from fossil fuels. Recently the County Council committed to the principle of divesting its pension funds from these damaging industries. It is time to put this commitment into action and send a clear message to the fossil fuel industry.

North Yorkshire County Council pension fund is one of the largest local government funds in England and to persuade it to divest from fossil fuels would be a real coup. Investments in fossil fuels (oil, coal & gas) are driving climate breakdown and pose a serious financial risk to local pension holders with the former Governor of the Bank of England, Mark Carney, warning that investors face ‘potentially huge’ losses from climate change action that could make vast reserves of oil, coal and gas ‘literally un-burnable’.

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SSE vows to produce ‘Just Transition’ plans to bolster science-based climate targets

Sarah George 17 August 2020, source edie newsroom

SSE, an energy company based in Perth, has become the first UK energy firm to commit to developing ‘Just Transition’ plans, which will protect affected workers and communities as it aligns with the UK’s net-zero target. It employs more than 20,500 people, making it one of the ‘big six’ energy firms in the UK.

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