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Finanzsystem fehlt in bisherigen Klimaschutzszenarien - Sonnenseite - Ökologische Kommunikation mit Franz Alt

Finanzsystem fehlt in bisherigen Klimaschutzszenarien - Sonnenseite - Ökologische Kommunikation mit Franz Alt
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Why Technology Could Slow the Clean Energy Transition

Why Technology Could Slow the Clean Energy Transition Energy density defined as the “amount of energy stored in a given system, substance, region of space per unit volume” is the main reason why fossil fuels will not be replaced in the near future by renewables. Approximately 84 percent of global electricity derives from oil, natural gas, and coal. The International Energy Agency (IEA) released a sobering report on the mining and infrastructure requirements needed for decarbonization and/or net-zero to take shape. Mining to move away from hydrocarbons will require 4,200 percent more lithium, 2,500 percent more graphite, 1,900 percent more nickel, and at least 700 percent more rare earth metals and minerals.  

Missing role of finance in climate mitigation scenarios

 E-Mail Researchers at the University of Zurich show how climate mitigation scenarios can be improved by taking into account that the financial system can play both an enabling or a hampering role on the path to a sustainable economic system. To limit global warming, a profound transformation of energy, production and consumption in our economies is required. The scale of the transformation means that the financial system must have a proactive role. New green investments are needed, as well as a reallocation of capital from high to low-carbon activities. The Central Banks and Supervisors Network for Greening the Financial System (NGFS), of which the Swiss National Bank is a member, was recently established with the aim of better understanding and managing the financial risks of climate change. The climate mitigation scenarios developed by the NGFS in collaboration with the Intergovernmental Panel on Climate Change of the United Nations (IPCC) have been a major step in providing f

IEA Drops Bombshell Report On Oil And Gas

IEA Drops Bombshell Report On Oil And Gas
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Central banks misguided plan to become climate warriors is doomed to fail

© Getty Images As if central banks today did not already have enough to do printing all the paper money needed to finance proliferating government spending. Regardless, they are taking on a new responsibility, the “greening of the financial system.”  According to the Wall Street Journal, they have pledged to join forces with financial regulators, “to limit climate change by steering their financial systems away from funding fossil fuels.” Given central banks’ collective history of causing inflations, recessions and financial crises while managing monetary policy, what could possibly go wrong if they start using the financial system to promote ”environmental sustainability”?   

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