Bringing down the COP28 vibe

2 views
Skip to first unread message

Loretta Lohman

unread,
Oct 13, 2023, 10:29:20 AM10/13/23
to lohman-...@googlegroups.com, Heather Kiernan, David Sanderson, Jennifer Sanderson, weather


UK's climate retreat changes the mood

Bloomberg

The UK, which has for years been a global leader on climate action, is retreating on certain green policies. The new attitude is rubbing off on other countries, an adviser warned yesterday, just as momentum is needed ahead of COP28.

Today’s newsletter looks at five key areas where the country could do more work to regain its green reputation. You can read and share the story on Bloomberg.com. For unlimited access to climate and energy news, please subscribe.

Where Britain needs to step up

By Jess Shankleman

Rishi Sunak is being slammed by his climate advisers for making net zero harder to achieve in Britain after his recent policy retreats. The prime minister says he’s trying to protect consumers navigating out of double-digit inflation.

Sunak argues the UK is overachieving on its green goals and can afford to slow down on renewable energy, efficient boilers and home insulation. The independent Climate Change Committee disagreed Thursday, saying the shifts risk sapping enthusiasm at next month’s United Nations climate talks.

Here are some areas where the country is falling behind previous pledges to tackle global warming:

Wind

The UK has long been aggressive in building offshore wind farms, targeting 50 gigawatts of capacity by 2030. Yet it’s now expected to fall short of that goal by nearly a third, according to BloombergNEF.

Last month, there wasn’t a single bid to build an offshore wind project in the government auction for clean-energy contracts. Developers blamed policymakers for setting electricity price too low, saying it wouldn’t cover higher supply-chain costs.

The government did announce it was lifting an eight-year ban on building onshore wind farms, but industry trade association RenewableUK says not much is really expected to happen. That market ground to a halt after the 2015 prohibition, and it’s unlikely to pick up again because the red tape remains, spokesman Rob Norris said.

“The ‘new wording’ in the National Planning Policy Framework has actually barely changed,” he said.

Solar

Despite being among the cheapest forms of power, only 14.6 gigawatts of solar capacity had been installed by the end of 2022, putting the country significantly off the mark in meeting its target for 70 gigawatts by 2035.

To be successful, the UK needs to add 4.3 gigawatts of solar annually, the CCC said.

At issue is a creaky infrastructure that creates significant delays in getting grid connections. Some solar farms and large-scale rooftop projects expect a two-decade wait, which makes them financially unviable, the Solar Energy UK trade association said.

Upgrading and expanding the electricity grid will be costly. Improving the onshore network alone may require as much as £240 billion ($294 billion) in investments by 2050, according to a government analysis last year.

Heat Pumps

Decarbonizing home heating is one of the steepest hills the UK has to climb to reach net zero because the housing stock is warmed predominantly by gas and, in some cases, oil boilers. The government target is to install 600,000 heat pumps a year by 2028. 

But the UK is being lapped by fellow Europeans in that contest. France installed almost 622,000 heat pumps last year and Italy almost 514,000, while the UK managed just over 55,000. That puts Britain at the bottom of the European league table for installations per capita.

The MCS Charitable Foundation says France may be further ahead because it has a stronger electricity supply industry with a huge nuclear power fleet. By comparison, the UK has a large gas lobby.

Home Insulation

Key to rolling out more heat pumps is improving the energy efficiency of homes, yet the UK lags in that area, too.

During the past decade, a range of energy-efficiency measures such as home insulation have been botched or abandoned under successive prime ministers. Insulation rates remain well below the peaks of delivery achieved before then-Prime Minister David Cameron torpedoed progress in 2013 by ordering officials to “cut the green crap.”

Even as gas prices soared last year to crisis levels, home-insulation rates remained way behind what the CCC says is needed for the UK to meet its carbon budgets. Without further policy interventions, energy efficiency investment will remain in the doldrums, the adviser said.

Carbon emissions

In June, the UK made it cheaper for companies to emit carbon dioxide by releasing a glut of permits on its carbon market, sending prices plummeting by 50%.

Since the UK left the European Union, it has run its own carbon market. During the past six months, their prices have diverged, with the UK market trading at a steep discount. As a result, the UK plans to burn more coal and gas this winter and sell it to the rest of the continent.

Emissions from the UK power sector reached a six-month high in September, BNP Paribas strategist James Huckstepp said.

More sources of fossil fuels are coming online. Last month, the government approved the $3.8 billion Rosebank oil and gas field to be developed by Equinor ASA and Ithaca Energy Plc.

And in July, it endorsed opening its first deep coal mine in 30 years: the Woodhouse Colliery project in Whitehaven. That will commit the UK to emissions from coking coal, for which there may be no domestic use after 2035.

The CCC said the decisions ultimately would increase the UK’s pollution while having little impact on energy prices.

Consumer confusion

51%
This is the percentage of people in Britain who don't realize that gas boilers produce carbon emissions, according to a recent survey.

Attitude shift 

"I think we’ve had this very good reputation as a country of doing our climate policy with very good popular support and all the political parties in a very good consensus, and I see our international partners becoming a bit concerned that might be changing."
Piers Forster
Chair of the UK's Climate Change Committee

More from Green

When a then little-known fund defeated Exxon Mobil Corp. in a climate-charged activist battle in 2021, snagging three board seats and promising to push a low-carbon future, some wondered if Engine No. 1’s surprise victory signaled the beginning of the end for the oil giant’s fossil-fuel growth.

It didn’t. In fact, all three of its board picks just voted in favor of the $60 billion acquisition of Permian Basin behemoth Pioneer Natural Resources Co., a deal that will help raise Exxon’s oil production to the highest in its 140-year history.

A Pioneer Natural Resources pumpjack near Midland, Texas. Photographer: Michael Ciaglo/Bloomberg

Eclipse will put solar power to the test. US grid operators are set to face their largest controlled experiment for dealing with big swings in renewable power during this week’s “ring of fire” eclipse.

EU green deal chief plans to get ‘assertive.’ The bloc is not afraid to use “trade defense instruments” to keep green industries like hydrogen and wind on the continent, according to Maros Sefcovic.

Researchers try to solve pollution mystery. While air pollution is falling in the US over the past two decades, the declines have recently started to slow. Researchers are now using new techniques to figure out why.

Weather watch

By Brian K Sullivan

Tropical Storm Sean, while likely to fall apart in the Atlantic in a few days, has gained interest due to the timing and location of its formation.

Sean formed further east than any mid-October tropical storm on record, Phil Klotzbach, Colorado State University hurricane researcher, said in a social media post. Usually by October, the majority of storms form in the western Atlantic, with many spinning up in the Caribbean Sea, according to the US National Hurricane Center.

Tropical Storm Sean Photographer: NOAA

On top of its odd location, Sean is also 2023’s 19th storm, which is the fifth most tied with 1887, 1995, 2010, 2011, and 2012, according to data from Colorado State University. The year isn’t over yet, and the institution said in its two-week forecast that there is a good chance more storms will form. There is a 70% chance a collection of thunderstorms and showers following Sean across the Atlantic could become a storm in the next week, according to the hurricane center.

The record year for storms was 2020 with 30. In the last five-years the Atlantic has produced 102 storms, according to the institution’s website.

In other weather news:

Pacific: Typhoon Bolaven continues to skirt Japan and head into the North Pacific.

US: High winds will continue to blast the Great Plains from South Dakota to the Texas panhandle. Meanwhile freeze warnings are out across much of the west as the seasons change.

Europe: Most of northwest Europe will face temperatures below normal this weekend and early next week, with the cold snap intensifying in parts of Germany and Nordics, according to forecaster Maxar.

Worth a listen

It is now cheaper to save the world than destroy it. But is capitalism up to the challenge of preventing the climate crisis? This week on Zero, Kira Bindrim sits down with Akshat Rathi to discuss his new book, Climate Capitalism, and asks: If climate capitalism is so doable, why does it seem so difficult? Subscribe to Zero on Apple, Spotify, or Google to get new episodes every Thursday.

Attention all startups

BloombergNEF has opened applications for its Pioneers awards for startups working to solve three major climate challenges. Those include reducing buildings’ carbon footprints, easing the bottleneck to getting clean energy on the grid and creating fuels that don’t fry the planet. Read more about the program here. Applications are open through Oct. 27.

Follow Us

Like getting this newsletter? Subscribe to Bloomberg.com for unlimited access to trusted, data-driven journalism and subscriber-only insights.


Want to sponsor this newsletter? Get in touch here.

You received this message because you are subscribed to Bloomberg's Green Daily newsletter. If a friend forwarded you this message, sign up here to get it in your inbox.
Unsubscribe
Bloomberg.com
Contact Us
Bloomberg L.P.
731 Lexington Avenue,
New York, NY 10022
Ads Powered By Liveintent Ad Choices
Reply all
Reply to author
Forward
0 new messages