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The UAE is hosting the COP28 climate change summit. The BBC reported it planned to make secret oil and gas deals. Among them, UAE COP28 planning officials intended to discuss liquefied natural gas development projects by UAE state energy firm Adnoc with China, the BBC reported. The UAE in a statement to the BBC did not deny that it planned on holding oil and gas deal talks, and said "private meetings are private." Leaders from nearly 200 countries are gathering in the UAE on Thursday for the COP28 summit.
Persons: Sultan al, Jaber, Dr Jaber, Adnoc, it's Organizations: BBC, Service, United Arab Emirates, Center, Climate, UAE, UN Locations: UAE, Gulf, China, Colombia, Masdar
The president of the upcoming COP28 climate change Sultan Ahmed al-Jaber speaks during the Abu Dhabi International Petroleum Exhibition at ADNEC Exhibition Center October 2, 2023. Jaber told an Abu Dhabi oil conference on October 2, 2023, that the fossil fuel industry would play an essential role in addressing the climate crisis. Al-Jaber was the founding CEO of Abu Dhabi state-owned renewable energy firm Masdar. CCR, which has received funding from the likes of Greenpeace and Rockefeller Philanthropy Advisors, said it was able to verify the accuracy of the leaked documents via an unnamed whistleblower. The United Nations Framework Convention on Climate Change did not immediately respond to a CNBC request for comment on the leaked documents.
Persons: Ahmed al, Jaber, Ryan LIM, RYAN LIM, Al, ADNOC, Masdar Organizations: Abu, Abu Dhabi International Petroleum, Exhibition, Getty, United Arab, Abu Dhabi National Oil Company, Al, Centre, Climate Reporting, BBC, CCR, Greenpeace, Rockefeller Philanthropy Advisors, CNBC, United Nations Locations: Abu Dhabi, AFP, United Arab Emirates, Masdar, China, Egypt, United, Dubai
Here are some of the main players and negotiating blocs involved in the COP28 conference starting Nov. 30 in Dubai. In climate negotiations, Beijing argues that wealthy developed countries like the United States, the biggest historical CO2 emitter, should move first and fastest in climate policy and finance. Despite having the world's second largest economy after the United States, China considers itself as a developing nation in the climate talks. But U.S. delegates will face pressure for climate finance after Washington pledged no new climate cash to the United Nations this year. AFRICAN GROUP OF NEGOTIATORSAfrican countries will be pushing at COP28 for climate finance and financial mechanisms to speed up green energy projects.
Persons: Rula, Kate Abnett, Katy Daigle, Josie Kao Organizations: Abu Dhabi Sustainability, REUTERS, UNITED, Washington, United Nations, EU, GROUP, Marshall, European Union, Thomson Locations: UAE, Abu Dhabi, Dubai . CHINA China, China, Beijing, United States, U.S, Union, United, United Kingdom, London, Brazil, South Africa, India, Saudi Arabia, CHINA, Kenya, Ethiopia, Senegal, Mozambique, Vanuatu, Costa Rica
Pope cancels Saturday activities because of mild flu - Vatican
  + stars: | 2023-11-25 | by ( ) www.reuters.com   time to read: +1 min
Pope Francis speaks during the weekly general audience, at the Vatican, November 22, 2023. Vatican Media/­Handout via REUTERS/File Photo Acquire Licensing RightsVATICAN CITY, Nov 25 (Reuters) - Pope Francis cancelled his morning audiences on Saturday because of mild flu, the Vatican said in a statement. The 86-year-old pontiff holds regular meetings with Vatican officials on Saturdays, including a weekly one with the head of the Vatican department that oversees the appointment of bishops, as well as private audiences. He also had a meeting scheduled with the president of Guinea Bissau. Francis is missing part of one lung, which was removed when he was a young man in his native Argentina.
Persons: Pope Francis, Pope, Francis, Angelus, Angelo Amante, Mark Potter Organizations: Vatican, Handout, REUTERS, CITY, Thomson Locations: Guinea Bissau, Argentina, St, Dubai
A plan for how Vietnam will spend $15.5 billion to transition to cleaner energy has been finalized and will be announced at the COP28 climate conference, which begins in Dubai next week. George gave no details of the plan. The United Kingdom is co-chair of a group of nine, rich industrialized nations that have agreed to provide the $15.5 billion to help Vietnam end its reliance on dirty coal power and more quickly switch to renewable energy as a part of a Just Energy Transition Partnership, or JETP. Earlier this year, Vietnam released a national energy plan that aimed to more than double the maximum power Vietnam can generate to some 150 gigawatts by 2030. It called for a drastic shift away from heavily polluting coal and pledges that no new coal-fired plants will be built after 2030.
Persons: Mark George, George, Tang Organizations: British, Economic, Trade, Britain, Energy, Sustainable Development Locations: Vietnam, Dubai, Hanoi, United Kingdom, Asia, Pacific, Japan
Oil and gas companies, as well as other people and organizations connected to fossil fuels, often attend the meeting, drawing criticism from environmentalists and climate experts. “Oil and gas producers need to make profound decisions about their future place in the global energy sector." Political Cartoons View All 1265 ImagesThe energy sector is responsible for over two-thirds of all human activity-related greenhouse gas emissions, and oil and gas is responsible for about half of those, according to the IEA. It found that if countries deliver on all climate pledges, demand for oil and gas will be 45% lower than today’s level by 2050. Earlier this year, another IEA report found that the world’s oil, gas and coal demand will likely peak by the end of this decade.
Persons: , Fatih Birol, Vibhuti Organizations: International Energy Agency, United Nations, IEA, , Associated Press, Abu Dhabi National Oil Company, IEA ., Institute for Energy Economics, Twitter, AP Locations: United, COP28, Dubai, Egypt, Abu Dhabi, New Delhi
France's minister of state for development Chrysoula Zacharopoulou told the Indian government about the plan, called the "New Coal Exclusion Policy", for private financial institutions and insurance companies, two Indian officials said. The plan to stop private financing for coal-fired power plants has not been previously reported. They are concerned private international financing continues to support large additions to coal capacity in developing nations, according to the plan shared by France with India. "And countries need to stop digging a deeper hole by building new unabated coal power plants, because unfortunately, there's still some 500 gigawatts of new coal-fired power plants in the pipeline globally, and the IPCC and the International Energy Agency have both been quite clear that that needed to stop already." Member countries are divided on emissions abatement technologies that are yet to evolve to commercial scale for use in developing countries, one of the Indian officials said.
Persons: Rula, Chrysoula Zacharopoulou, Zacharopoulou, Emmanuel Macron, Rick Duke, Duke, there's, Sarita Chaganti Singh, Valerie Volcovici, Kate Abnett, Benjamin Mallet, Sonali Paul Organizations: Abu Dhabi Sustainability, REUTERS, OECD, French, Organisation for Economic Co, Development, U.S, International Energy Agency, Thomson Locations: UAE, Abu Dhabi, DELHI, BRUSSELS, WASHINGTON, France, United States, India, Europe, Dubai, China, New Delhi, U.S, Union, Canada, COP28, Washington, Brussels, Paris
WASHINGTON (AP) — President Joe Biden promised to visit Africa this year, but 2023 is drawing to a close with no trip in sight yet. “I’m eager to visit your continent,” Biden said at the summit almost a year ago. “We’re hoping that President Biden will also be here to restore that trajectory,” he said. Tanzanian President Samia Suluhu Hassan told Harris that her country was excited for a Biden visit. “Tanzanians are now anxiously waiting for President Joe Biden’s visit in Tanzania,” she said to the U.S. vice president.
Persons: Joe Biden, Biden, “ I’m, ” Biden, , , Jideofor Adibe, John Kirby, Xi Jinping, ramping, Daniel Russel, Inger Andersen, “ Joe Biden, Mohamed Adow, Kamala Harris, Jill Biden, Antony Blinken, Janet Yellen, Lloyd Austin, Harris, Nana Akufo, Donald Trump —, , Barack Obama, George W, Bush, Bill Clinton, “ We’re, Samia Suluhu Hassan, Joe Biden’s, Seth Borenstein, Chinedu Asadu, Asadu Organizations: WASHINGTON, Africa, Center for Strategic, International Studies, Nigeria’s Nasarawa State University, White House, Administration, Associated Press, Pacific, Hollywood, Asia Society Policy Institute, U.S ., Republican, Biden Locations: Africa, Dubai . U.S, Israel, Vietnam, Ukraine, Washington, U.S, California, Glasgow, Scotland, Egypt, China, Dubai, United States, Ghana, Tanzania, , Abuja, Nigeria
Antimicrobial resistance (AMR), which the World Health Organization has referred to as the "silent pandemic," is an often overlooked and growing global health crisis. Sakis Mitrolidis | Afp | Getty ImagesMaking matters worse, research has shown that climate change is exacerbating the AMR crisis in several ways. "AMR bacteria is known as a silent pandemic. Extreme heat is fueled by the climate crisis, which makes extreme weather more frequent and more intense. "We hear people talking about this 'silent pandemic,' but it shouldn't be silent.
Persons: Sakis Mitrolidis, Tina Joshi, Joshi, University of Plymouth Robb Butler, Butler, Plymouth's Joshi Organizations: Planck, Biology, Getty, World Health, United, AMR, WHO, Afp, University of Plymouth, CNBC, UN, United Arab Emirates, Polygiene, Aircraft, Bloomberg, Plymouth's Locations: United Nations, Sikorahi, Alexandroupoli, Greece, WHO Europe, United Arab, UAE, Hamburg, Germany
Provisional ERA5 global temperature for 17th November from @CopernicusECMWF was 1.17°C above 1991-2020 - the warmest on record. Our best estimate is that this was the first day when global temperature was more than 2°C above 1850-1900 (or pre-industrial) levels, at 2.06°C. According to the Intergovernmental Panel on Climate Change, the world needs to decrease emissions by 45% by the end of this decade compared to 2010 to have any hope of limiting global warming to 1.5 degrees Celsius above pre-industrial levels. Another UN report also found that the world is planning to blow the fossil fuels production limit that would keep a lid on global heating. By 2030, countries plan to produce more than twice the limit of fossil fuels that would cap warming at 1.5 degrees.
Persons: Samantha Burgess, Sam Burgess 🌍🌡, Du, ks to Organizations: CNN, Provisional Locations: Europe, @CopernicusECMWF
CNN —Tens of thousands of people are heading to Dubai in early December for COP28, the annual international climate summit convened by the United Nations. While the science behind human-caused climate change was still young, scientists knew even then it would be life-changing. The controversy at COP28The climate summit is hosted at a different location each year. “It tells us clearly that the world is not on track to achieve our global climate goals,” Melanie Robinson, the global climate program director for the World Resources Institute, told CNN. A major debate among the parties has been whether to “phase out” or “phase down” fossil fuels.
Persons: John Kerry, Ian Langsdon, , United Arab Emirates —, Critics, Al Jaber, Britain's King Charles III, COP28, Sultan Ahmed al Jaber, Aaron Chown, John Kerry —, Al Jaber’s, King Charles III, Pope Francis, Joe Biden, China’s, Jinping, Biden, Xi, Larry Fink, It’s, ” Melanie Robinson, ” Robinson, , Maya Siddiqui, Nate Warszawski, , CNN’s Ivana Kottasová Organizations: CNN, COP28, United Nations, Getty, UN, “ Conference, United, United Arab Emirates, Minister of State, Abu Dhabi National Oil Company, Buckingham Palace, US, Publishing, decarbonize, Wall, BlackRock, World Resources Institute, Bloomberg, World Bank Locations: Dubai, Le Bourget, Paris, AFP, Berlin, COP21, United Arab, UAE, Abu Dhabi, Buckingham, France, Germany, Japan, Hami city, Xinjiang province, China, Saudi Arabia, Syria, Russia, Iran, Israel, Egypt, COP27
The Biden-Xi meeting is "important at a time when geo-economic fragmentation has indeed deepened with negative consequences for the prospects for accelerating growth," Georgieva said. U.S.-China engagement also will be an important factor on negotiations over World Trade Organization reform, including restoration of its dispute settlement system. "We are already seeing the impact of antisemitism and Islamophobia, raising their ugly heads all over the world. IMF SHAREHOLDING REFORMSU.S. Treasury Secretary Janet Yellen said during meetings last week with her Chinese counterpart that a key outcome of U.S.-China economic engagement was Beijing's support for a 50% increase in IMF quota-based resources, without an immediate rise in shareholding for China. Georgieva said it was important for the IMF to start quickly on revamping its shareholding formula to boost the representation of fast-growing developing economies: "The world needs an IMF that is financially strong, and that is also legitimate."
Persons: Joe Biden, Kristalina, Dina Boluarte, Loren Elliott, Kristalina Georgieva, Xi Jinping, Georgieva, Biden, Xi, Janet Yellen, David Lawder, Chris Reese, Tom Hogue Organizations: International Monetary Fund, Economic Cooperation, REUTERS, FRANCISCO, Monetary Fund, Reuters, Biden, U.S ., APEC, U.S, World Trade Organization, United, Hamas, IMF, Treasury, Thomson Locations: Asia, San Francisco , California, U.S, China, United Arab Emirates, GAZA, Gaza, Egypt, Lebanon, Jordan, Israel
The two sides decided to “operationalize” a suspended bilateral working group to “engage in dialogue and cooperation to accept concrete climate actions” in this decade, according to the statement. That working group was first proposed by Kerry and Xie in 2021 at the United Nations climate summit in Glasgow, but has been on hold since August last year. Both countries agreed to economy-wide reductions of all greenhouse gases in their international climate commitments for 2035, including carbon dioxide, methane, and hydrofluorocarbons. Li Shuo, the director of China Climate Hub at the Asia Society Policy Institute, said China’s pledge to set release targets for all greenhouse gas emissions was arguably the most notable point in the statement. Non-carbon dioxide gases such as methane still account for a considerable share of China’s greenhouse gas emissions,” he said.
Persons: Joe Biden, Xi Jinping, John Kerry, Xie Zhenhua, Kerry, Xie, , Li Shuo, China’s, you’re, Li Organizations: CNN, Economic Cooperation, US State Department, China’s Ministry of Ecology, United, , Asia Society Policy Institute, UN, Asia Society Locations: United States, China, San Francisco, Asia, Beijing, Washington, Taiwan, California, United Nations, Glasgow, Dubai, COP28, UAE
COP28’s big challenge: green cash for poor states
  + stars: | 2023-11-15 | by ( George Hay | ) www.reuters.com   time to read: +7 min
Rather than drawing attention to this paucity of ambition, al-Jaber wants states to commit to trebling global capacity of renewable energy by 2030. Progress in China and the West is largely a function of cash: these regions accounted for 84% of the $1.3 trillion committed to global climate finance in 2022. They calculate that by 2030, developing countries need to invest around $2.4 trillion a year in order to decarbonise their economies. The problem is that the developed world has consistently missed targets to channel climate cash to less developed counterparts. In September al-Jaber announced a $4.5 billion scheme to deploy UAE state cash and private sector resources to help Africa decarbonise.
Persons: al, Jaber, hasn’t, Nicholas Stern, Stern, Ajay Banga, Mark Carney, Shriti Vadera, Larry Fink, Joko Widodo, UAE Crown Prince Mohammed bin Zayed, Nahyan, Breakingviews, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Reuters, United, Conference of, Abu Dhabi National Oil Company, United Nations, International Energy Agency, The, IEA, World Bank, concessional, Bank, Bank of England, Prudential, BlackRock, U.S, Indonesian, Africa decarbonise, UAE Crown, Thomson Locations: United Arab Emirates, Abu Dhabi, Paris, China, The U.S, British, Egypt, Indonesia, Japan, South Africa, Vietnam, U.S, Al, UAE, Africa, COP28, Dubai
Among them, Dubai-based Syrian Ahmad Alkattan has created a cocoon-style intimate outdoor social space where designers can “hatch” their ideas. Alkattan’s design is part of the annual Dubai Design Week and won first place in its Urban Commissions competition, which invites designers and architects to develop innovative outdoor furniture. This year, more than 30 designs for installations submitted for DDW have been built in the city’s Design District. Dubai Design WeekAhead of the upcoming COP28 climate conference in Dubai, the theme for this year’s design week emphasizes sustainable practices and materials. “So [the competition] is a very relevant project not just for what is staged in Dubai Design Week, but where we can see this in the future.”Designest is Alkattan’s third attempt at winning the Urban Commissions category.
Persons: Ahmad Alkattan, “ Designest, Alkattan, Designest, , I’ve, Mette Degn, Christensen, DDW, it’s, , Abdalla, TEE VEE, Degn Organizations: CNN, Design, Dubai Design, DDW, Mitsubishi, Tea Locations: Dubai, Dubai —, Venice, Arabi, UAE
'Cop28 UAE' logo is displayed on the screen during the opening ceremony of Abu Dhabi Sustainability Week (ADSW) under the theme of 'United on Climate Action Toward COP28', in Abu Dhabi, UAE, January 16, 2023. REUTERS/Rula Rouhana/File Photo Acquire Licensing RightsWASHINGTON/BRUSSELS, Nov 9 (Reuters) - More than 60 countries have said they back a deal spearheaded by the European Union, United States and United Arab Emirates to triple renewable energy this decade and shift away from coal, two officials familiar with the matter told Reuters on Thursday. Some major emerging economies like Nigeria, South Africa and Vietnam, developed countries like Australia, Japan and Canada, and others including Peru, Chile, Zambia and Barbados have said they will join the pledge, the officials told Reuters. One of the officials told Reuters negotiations with China and India to join the pledge are "quite advanced," although neither has yet agreed to join. Reporting by Valerie Volcovici and Kate Abnett; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.
Persons: Rula, Valerie Volcovici, Kate Abnett, Tom Hogue Organizations: Abu Dhabi Sustainability, REUTERS, European Union, United, United Arab Emirates, Reuters, EU, Thomson Locations: UAE, Abu Dhabi, WASHINGTON, BRUSSELS, United States, United Arab, Dubai, Nigeria, South Africa, Vietnam, Australia, Japan, Canada, Peru, Chile, Zambia, Barbados, China, India
A temperature display reading 99 degrees Fahrenheit (37.2 degrees Celsius) in Houston, Texas, on June 21, 2023. “October 2023 has seen exceptional temperature anomalies, following on from four months of global temperature records being obliterated,” Samantha Burgess, deputy director of Copernicus, said in a statement. Every month since June has smashed monthly heat records and every month since July has been at least 1.5 degrees Celsius above pre-industrial levels. The year to-date is averaging 1.43 degrees Celsius above pre-industrial levels, according to Copernicus — perilously close to the internationally agreed ambition to limit global warming to 1.5 degrees Celsius. China saw more than 12 monthly temperature records broken on Monday, with temperatures reaching 34 degrees Celsius (93 Fahrenheit) in some places.
Persons: ” David Reay, Niño, ” Andrew Pershing, , Chen Chen, Samantha Burgess, Copernicus, ” Hannah Cloke, Hurricane Otis, ” Reay, it’s what’s, Friederike Otto, , “ El Niño, ” Pershing, ” CNN’s Robert Shackelford, Sara Tonks, Brandon Miller Organizations: CNN, University of Edinburgh, Climate, University of Reading, Hurricane, Southern, Grantham Institute, Imperial College London, UN Locations: Edinburgh, India, United States, South, Southwest, Houston, Iceland, Lesotho, Houston , Texas, Xinhua, Southern Mexico, China, Texas, Dubai, Paris
The United Nations 28th meeting on climate, known as COP28, takes places from Nov. 30 to Dec. 12 in Dubai. Latin American countries will arrive ready to push for common goals thanks to regional meetings earlier this year, Muhamad told Reuters. As well as pushing for help adapting to climate change, Latin American countries will call for the region to be covered by early warning systems to save lives amid disasters due to climate change, she said. "The north's position is that there will always be hydrocarbons and that if we can reduce emissions this will be sufficient (to solve) climate change. Last year Colombia cut deforestation by 29.1% to just over 1,235 square kilometers (477 square miles).
Persons: Susana Muhamad, Muhamad, Oliver Griffin, Diane Craft Organizations: UN, country's, United Nations, Reuters, El, Thomson Locations: BOGOTA, Colombia, Dubai ., America
The United Nations 28th meeting on climate, known as COP28, takes places from Nov. 30 to Dec. 12 in Dubai. Latin American countries will arrive ready to push for common goals thanks to regional meetings earlier this year, Muhamad told Reuters. As well as pushing for help adapting to climate change, Latin American countries will call for the region to be covered by early warning systems to save lives amid disasters due to climate change, she said. "The north's position is that there will always be hydrocarbons and that if we can reduce emissions this will be sufficient (to solve) climate change. Last year Colombia cut deforestation by 29.1% to just over 1,235 square kilometers (477 square miles).
Persons: Oliver Griffin BOGOTA, Susana Muhamad, Muhamad, Oliver Griffin, Diane Craft Organizations: UN, country's, United Nations, Reuters, El Locations: Colombia, Dubai ., America
‘Our future is at stake, the future of our children and grandchildren,’ Pope Francis said about the COP28 climate conference. Photo: Vatican Media/Zuma PressROME—Pope Francis said he would travel to the COP28 United Nations Climate Change Conference in Dubai next month, becoming the first pontiff to participate in such an event. The pope’s presence at the conference will be one of his most significant gestures drawing attention to protection of the environment, which he has made a signature issue of his pontificate.
Persons: ’ Pope Francis, Zuma Press ROME — Pope Francis Organizations: Vatican Media, Zuma Press, COP28 United Locations: Dubai
Pope Francis leads the weekly general audience in Saint Peter's Square at the Vatican, October 18, 2023. The pope told Italy's state-run RAI television TG1 news in an interview that he expected to be in Dubai Dec. 1-3. In Dubai, the pope is expected to drive home his recent appeal for action to curb global warming. Francis, 86, has made protection of the environment one of the hallmarks of his papacy and met last month with COP28 President Sultan al-Jaber. Failure in Dubai, Francis said in the document, "will be a great disappointment and jeopardize whatever good has been achieved thus far".
Persons: Pope Francis, Italy's, Francis, Sultan al, Jaber, Deum, Joe Biden, Philip Pullella, Diane Craft, Jonathan Oatis Organizations: Vatican, Handout, REUTERS, Rights, RAI, TG1, Thomson Locations: Saint Peter's, Dubai, el, Sheikh, Egypt, Glasgow, Scotland
ROME (AP) — Pope Francis said Wednesday that he will travel to Dubai for three days during the COP28 climate conference hosted there. Francis said during an interview on Italian television network RAI that he would depart for Dubai on Dec. 1 and stay until Dec. 3. Excerpts of the interview were broadcast on Wednesday evening and recorded a few hours earlier. Francis offered no details of his trip's program, including any appearance at the conference. The first Conference of the Parties, as COP is formally called, was held in 1995 in Berlin, and the gathering has since been held in various cities and on different continents.
Persons: — Pope Francis, Francis Organizations: ROME, RAI, of Locations: Dubai, Berlin
By Gloria DickieLONDON (Reuters) - The United Arab Emirates will not double up on hosting the United Nations' annual climate conference by holding next year's summit, according to leadership involved in the event. "The UAE has not been asked and has no intention of hosting COP29," Majid Al Suwaidi, director general of the COP28 summit, told reporters on Friday. "We will not be hosting COP29." Nations are scrambling to find an alternative venue for the event which sees representatives from nearly 200 countries gather to agree to joint efforts to tackle climate change. If a host for COP29 cannot be agreed, the location could revert to Bonn, Germany, where the U.N. climate secretariat is headquartered.
Persons: Gloria Dickie LONDON, Majid Al Suwaidi, Gloria Dickie, Kate Abnett, Alison Williams Organizations: United, United Nations, Union Locations: United Arab Emirates, Eastern Europe, UAE, Dubai, Ukraine, Bonn, Germany, London, Brussels
A Brazilian carbon market would be an important addition to an expanding network of cap-and-trade systems around the world. Brazilian agricultural producers and miners hope the carbon market will help overcome headwinds in developed markets where consumers often associate them with deforestation. Exporters of manufactured goods using Brazilian grains, meat, iron-ore and other raw materials could also get a boost if carbon regulation improves the country’s environmental credentials, according to Brazilian business executives. Sen. Tereza Cristina —a former agriculture and livestock minister—defended the decision to exclude the sector from carbon regulation. “The farm sector isn’t ready for the regulated carbon market,” she said.
Persons: Eraldo Peres, Luiz Inácio Lula da Silva, Flávio Roscoe, , Marcio Astrini, Tereza Cristina —, , Fábio Passos, Passos, Paulo Trevisani, Luciana Magalhaes Organizations: Associated Press, United, Observatory, Sen, Business, Bayer’s, luciana.magalhaes@wsj.com Locations: Brazil, Associated Press Brazil, Nations, United Nations, Pennsylvania, Minas Gerais, Europe, Latin America, paulo.trevisani@wsj.com
FRANKFURT, Oct 24 (Reuters) - Global industry could save around $437 billion a year from 2030 via energy efficiency savings and could also achieve big reductions in carbon emissions, a study showed. Companies could undertake regular energy audits, review the ideal size of industrial assets, connect sites and machines to reap energy synergies and use more efficient engines, the report said. "Since renewables can only provide a part of the answer, the critical role energy efficiency plays in accelerating the energy transition toward reaching net-zero emissions by 2050 is undeniable." Last week, the U.S. Energy Information Administration (EIA) said global energy consumption will likely increase through 2050 and outpace advances in energy efficiency, boosted by population growth and higher living standards, among other factors. Non-fossil fuel-based resources, including renewables, will produce more energy through 2050, but that growth is not likely to be enough to reduce global energy-related CO2 emissions, it said.
Persons: Tarak Mehta, Christoph Steitz, Jane Merriman Organizations: Energy Efficiency Movement, ABB, Germany's DHL, Sweden's Alfa Laval, Microsoft, Reuters, Companies, U.S . Energy Information Administration, Thomson Locations: FRANKFURT
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