Enough turbines to generate an additional 723GW of wind power are expected to be erected around the world between now and 2028, analysts at Wood Mackenzie have predicted.
In their latest Global Wind Power Market Outlook Update, researchers said 50.2GW of power were added during 2018, a 4% year-on-year increase.
Luke Lewandowski, Wood Mackenzie’s Power & Renewables Research Director, said: “This significant level of investment seen last year was largely driven by a resurgence in China.
Energy Minister Claire Perry has told MPs that the UK Government is drawing up plans for a domestic emissions trading scheme (ETS) to be introduced in January 2021.
Speaking to the House of Lords’ European Union (EU) Energy & Environment Sub-Committee, Perry said the UK’s system would begin operating at the end of the EU ETS’s current phase in 2020.
The plan would need agreement from the EU but Perry is confident of winning approval because the UK is a “big provider of liquidity.”
The European Commission (EC) has opened an investigation into the UK’s Capacity Market following November’s court ruling that led to its suspension.
The EU Court’s ruling came following a legal challenge brought by Tempus Energy which argued the scheme gives an unfair advantage to fossil fuel generation over demand side response technologies.
Commissioners have already appealed against the court’s decision.
The EC said: “The commission’s investigation will focus, in particular, on the partici...
More than half of European businesses do not have a carbon dioxide emissions reduction target, according to the Carbon Disclosure Project’s (CDP’s) annual report.
The finding came despite 80% of companies recognising business risks in adapting to climate change.
Some 75% of companies now believe “transition” risks – such as new climate legislation – will meaningfully affect their businesses.
The report’s survey found 47% of Europe’s largest firms now link executive pay to climate change, with...
Europe’s economy could grow by an extra 1.1% by 2030 if the Paris climate change agreement is implemented, according to a European Union report.
Employment would also rise by 0.5% over the same period, the study found.
Donald Storrie, Chief Researcher at Eurofound, the agency that compiled the report, said: “Climate change is expected to have very serious implications for living and working conditions on a global scale; it is the people who are socially, economically, or otherwise marginalised...