Understanding the Drive for a More Sustainable Future

All-Energy and Dcarbonise Teamby All-Energy and Dcarbonise Team

In Blog, Industry Updates.

Understanding the Drive for a More Sustainable Future

Key Highlights 

  • Belgium, Colombia, Germany, Ireland, Japan, the Netherlands, Norway, the UK, and the US all pledged to significantly boost offshore wind energy at COP27 (GOWA). 
  • Russia's invasion of Ukraine has shown the necessity to eliminate fossil fuels, says Rishi Sunak. This gives environmentally concerned sectors a boost in the market. 
  • Green hydrogen production is more cost-effective than polluting gas production, according to Carbon Tracker 
  • EU President Ursula Von Der Leyen announced €3 billion (£2.6billion) to stimulate the hydrogen industry across the continent. 
  • Offshore wind offers nations a unique opportunity to improve their climate ambitions and NDCs by introducing additional zero-carbon electricity generation. 
  • According to the Intergovernmental Panel on Climate Change (IPCC), global temperatures have climbed 1.1 degrees Celsius and will rise another 1.5 degrees Celsius. The Global Offshore Wind Alliance (GOWA) plans to help install 380 GW by 2030. 
  • Ocean Winds welcomed Irish Oireachtas members to the 50MW Moray East offshore wind farm in Fraserburgh, Aberdeenshire, Scotland. 
  • New UN climate chief Simon Stiell called COP27 a "hopeful start" after developing nations successfully campaigned to include "loss and damage" on the agenda. 

 

The Fight for Green Energy 

At COP27, Belgium, Colombia, Germany, Ireland, Japan, the Netherlands, Norway, the United Kingdom, and the United States all pledged to rapidly expand their use of offshore wind energy by joining the Global Offshore Wind Alliance (GOWA). Initiated by the International Renewable Energy Agency (IRENA), Denmark, and the Global Wind Energy Council (GWEC), the alliance will speed the deployment of offshore wind power by bringing together governments, the business sector, international organisations, and other stakeholders.  

With this, two of the most sustainable sources of energy are now making their move towards a greener future. 

The Shift to Hydrogen 

Rishi Sunak urges the drive toward a sustainable future. He explains that the invasion of Ukraine by Russia has demonstrated the need to eliminate reliance on fossil fuels. This development presents an opportunity for environmentally conscious sectors to gain traction in the marketplace. One of these sustainable solutions is hydrogen. 

Carbon Tracker Senior Cleantech Analyst Kofi Mbuk suggests that there have been changes in the price of hydrogen. According to the research, the conflict in Ukraine has, if unintentionally, contributed to a decrease in the price of using an electrolyser to produce hydrogen. Green hydrogen production is now a more cost-effective choice than gas production from polluting sources. 

The EU has shown its support for the hydrogen industry with President of the European Commission Ursula Von Der Leyen's announcement that €3 billion (£2.6 billion) will become available to boost the sector across the continent. The growth of this hydrogen submarket is crucial, in her opinion, to the process of energy diversification. In support of this vision of affordable green hydrogen, the International Energy Agency has forecasted a 70% drop in electrolyser prices over the next few years. 

 

The Rise of Offshore Wind 

In his address to world leaders at the COP27 summit, Rishi Sunak states that combating climate change may become "a global mission for new jobs and clean growth."  

Francesco la Camera, Director General of the International Renewable Energy Agency, has remarked that offshore wind offers countries a unique opportunity to increase their climate ambition and NDCs by adding massive volumes of new zero-carbon power generation. Additionally, he emphasised that offshore wind is not only cost-competitive with fossil fuel generation but can also significantly increase both investment and employment opportunities. 

According to the United Nations' (UN) climate scientists, the Intergovernmental Panel on Climate Change (IPCC), global temperatures have already risen by 1.1 degrees Celsius and are projected to rise by another 1.5 degrees Celsius. The IPCC stated that half of the world's population might be put in danger by increases in heat and humidity of 1.7 to 1.8C above 1850s levels. To attain net zero and limit the increase in world temperatures to 1.5 degrees Celsius, both IRENA and the International Energy Agency anticipate that offshore wind capacity will need to approach 2000GW in 2050, up from a little over 60GW today. By 2030's conclusion, GOWA hopes to have helped accelerate growth to the tune of at least 380 GW of installed capacity. 

One step that was taken is Ocean Winds’ welcoming of the members of the Irish Oireachtas, a Joint Committee on the Environment and Climate Action, to the 50MW Moray East offshore wind farm in Fraserburgh, Aberdeenshire, Scotland. Ocean Winds is responsible for the operation, construction, and development of five Scottish offshore wind projects: Moray East (950MW), Moray West (882MW), Caledonia (up to 2GW), and two new floating projects east of the Shetland Islands (2.3GW). Finch added that they are engaging with local businesses and communities to make lasting changes to Scotland's offshore wind industry. As a bonus, it will help Irish communities prepare for global energy price swings by lowering their dependency on gas and oil. 

 

COP27 had a Hopeful Start 

United Nations's new climate director, Simon Stiell, told BBC World Service's Newshour programme that only 29 states have increased their climate promises since last year, which was "not enough." The United Nations has issued a warning that wealthy nations are not doing enough to contribute the money needed to help developing nations adapt to a changing climate and prosper sustainably.  

However, Mr. Stiell also said the conference had gotten off to a "hopeful start" after developing nations successfully campaigned to include the contentious issue of "loss and damage" on the agenda. 

Whether you have been a part of All-Energy & Dcarbonise before, or are joining us for the first time, we look forward to seeing you in Glasgow in 2023.

All-Energy and Dcarbonise Team

All-Energy and Dcarbonise Team

All-Energy and Dcarbonise is the UK’s leading and only full supply chain renewables and low carbon energy event for the private and public sector energy end users, developers and investors.

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