México

Guyana

Trinidad
& Tobago




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

'Positive outlook' for renewable energy, but more efforts needed - Global Green Growth Institute

 

 


By Jane Chung

SEOUL
Petroleumworld 11 02 2018

The outlook for renewable energy is “very positive” with more new investments in renewable than fossil fuel but further efforts and money are needed to tackle climate change, the head of the Global Green Growth Institute (GGGI) said.

Renewable energy will keep growing out to 2023 led by growth in bioenergy consumption as countries seek to reduce green house gas emissions as a way to keep the planet from getting warmer, according to the latest report by the International Energy Agency.

“In the last few years the investments in new projects are much more in renewable than in fossil fuel,” Frank Rijsberman, Director-General of the Seoul-based Global Green Growth Institute (GGGI), told the Reuters Global Commodities Summit on Thursday.

“We see a very positive outlook for renewable energy but it still needs to be sped up.”

The GGGI, initially set up as a think-tank in 2010 by South Korea's then president Lee Myung-bak before being converted to treaty-based international organisation in 2012, aims to help emerging countries develop green growth models to meet both economic growth and climate change policy goals.

Last year, the GGGI helped raise more than $500 million for climate finance through investment projects and government funds to support developing nations, and it aims to raise $2.5 billion by 2020, Rijsberman said.

“We think for the world, trillions of dollars are necessary to invest in sustainable infrastructure... there are many billions of dollars out there. They are ready to be invested. We're just at the beginning,” he said.

N.KOREA REFORESTATION

To further support renewable energy and curb gas emissions, he said the upcoming U.N. climate talks in Poland in December were important to implement the Paris Agreement in 2015. Government ministers will try to agree on rules for the agreement's implementation at the Dec. 2-14 meeting.

“If we can finish that this year, we can start implementing. There are all kinds of things that are linked to that,” Rijsberman said.

Capping the global average temperature rise to “well below” 2 degrees Celsius above pre-industrial levels was a target agreed at global climate talks in Paris in 2015.

The U.N. Intergovernmental Panel on Climate Change (IPCC) released a report, warning that temperatures are likely to rise by 1.5 degrees Celsius between 2030 and 2052 should the world fail to take rapid and unprecedented measures to cap the rise.

Rijsberman also said the organisation has been exploring ways to help North Korea such as with a study plan for 100 percent renewable energy for the Korean Peninsula. It also made a forestry project offer to the North Korean government.

“We do forestry projects in other countries like Indonesia and Colombia ... so we've written to the North Korean government to make that offer and we have had the first positive response,” he said.

Following the historic inter-Korean summit in April, North and South Korea have been in talks to restore destroyed forests in North Korea.

“We're hoping that humanitarian action is allowed and reforestation should be allowed under that.”

________________________



Story by Jane Chung; Editing by Emelia Sithole-Matarise from Reuters.

reuters.com
11 01 2018



Copyright© 1999-2018 Petroleumworld or respective author or news agency. All rights reserved.

We welcome the use of Petroleumworld™ (PW) stories by anyone provided it mentions Petroleumworld.com as the source.

Other stories you have to get authorization by its authors. Internet web links to http://www.petroleumworld.com are appreciated.

Petroleumworld welcomes your feedback and comments, share your thoughts on this article, your feedback is important to us!

We invite all our readers to share with us
their views and comments about this article.
Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1


November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter

 

 

 

 

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.