Energy sector CO2 emissions hit record in 2022: study

LONDON - Global energy sector carbon dioxide emissions hit a record peak last year counter to Paris commitments, a key study warned, and highlighted the "worst ever" impacts of climate change.

UK-based global industry body the Energy Institute laid out the main findings of its Statistical Review of World Energy, conducted with consultancies Kearney and KPMG.

"Carbon dioxide emissions from energy use, industrial processes, flaring and methane... continued to rise to a new high growing 0.8 percent in 2022," read the study.

The annual review was historically published by energy major BP but it has been handed to the institute.

Primary energy consumption grew about one percent last year from 2021, or almost three percent when compared with its pre-Covid level in 2019, the review found.

Fossil fuels remain dominant at 82 percent of consumption, despite a strong showing from renewables.

Meanwhile, wind and solar power together hit a record 12 percent of total electricity generation, helped by the biggest ever increase in capacity for both.

Demand for fuel for transportation continued to rebound from pre-pandemic levels, although China held "significantly" below due to the ongoing impact of its prior 'Zero Covid' restrictions.

Energy Institute President Juliet Davenport warned the sector was heading in the "opposite direction" to the goals of the Paris deal.

"2022 saw some of the worst ever impacts of climate change -- the devastating floods affecting millions in Pakistan, the record heat events across Europe and North America -- yet we have to look hard for positive news on the energy transition in this new data," Davenport said.

"Despite further strong growth in wind and solar in the power sector, overall global energy-related greenhouse gas emissions increased again.

"We are still heading in the opposite direction to that required by the Paris Agreement."

Under the 2015 Paris accord, nations pledged to reach net-zero carbon emissions by the middle of the century with the aim of limiting the increase in global temperatures to 1.5 degrees of pre-industrial levels.

Richard Forrest, chair of Energy Transition Institute at Kearney, added that soaring greenhouse gas emissions reinforced "the need for urgent action to get the world on track to meet the Paris targets."

He noted 2022 was a "turbulent year" that saw energy security top the agenda due to key producer Russia's invasion of Ukraine -- and rebounding post-pandemic demand.

Agence France-Presse

Oil major BP to cut 15 percent of workforce

LONDON - BP will cut about 15 percent of its workforce in response to the coronavirus crisis and as part of Chief Executive Bernard Looney's plan to shift the oil and gas major to renewable energy, it said on Monday.

Looney told employees in a global online call that the London-based company will cut 10,000 jobs from the current 70,100.

"We will now begin a process that will see close to 10,000 people leaving BP – most by the end of this year," Looney said in a statement.

Reuters had earlier reported the planned job cuts, citing three company sources.

BP shares were up 3.3 percent by 1230 GMT, against a 2.2 percent gain for the broader European energy sector.

The affected roles will be mostly senior office-based positions and not front-line operational staff, the company said.

About a fifth of the job cuts will take place in Britain, where BP employs 15,000 people, a company spokesman said.

Like all the world's top energy companies, BP has cut its 2020 spending plans after the coronavirus pandemic brought an unprecedented drop in demand for oil. BP has flagged a 25 percent cut to $12 billion this year and said it would find $2.5 billion in cost savings by the end of 2021 through the digitalization and integration of its businesses.

On Monday, however, Looney said the company is likely to need to cut costs even further.

BP is giving no pay rises to senior employees until March 2021 and said it is unlikely to pay any cash bonuses this year.

ENERGY TRANSITION

The job reductions are also part of Looney's drive to make the 111-year-old oil company more nimble as it prepares for the shift to low-carbon energy, the sources said.

"It was always part of the plan to make BP a leaner, faster-moving and lower-carbon company," Looney said.

The spokesman said that the coronavirus crisis "amplified and accelerated" BP's transition plans.

Looney last month announced a large round of senior management appointments, halving the size of BP's leadership team under his plan to reshape the company's structure.

Shortly after taking office in February, the 49-year-old CEO said that he was creating 11 divisions to "reinvent" BP and dismantle the traditional structure dominated by its oil and gas production business and its refining, marketing and trading division.

Chevron Corp, the second-largest U.S. oil producer, last month said that it will cut between 10 percent and 15 percent of its global workforce as part of an ongoing restructuring.

Royal Dutch Shell, meanwhile, has initiated a voluntary redundancy program.

(Reporting by Ron Bousso and Shadia Nasralla Editing by Louise Heavens and David Goodman)

-reuters-

Cheaper solar power gains ground in Southeast Asia

SINGAPORE -- Southeast Asia is accelerating plans to harness energy from the sun in coming years as the cost of generating electricity from some solar power projects has become more affordable than gas-fired plants, officials and analysts said.

The region, where power demand is expected to double by 2040, is striving to expand the share of renewable sources as developing nations seek affordable electricity while battling climate change.

Southeast Asia's cumulative solar photovoltaic (PV) capacity could nearly triple to 35.8 gigawatt (GW) in 2024 from an estimated 12.6 GW this year, consultancy Wood Mackenzie says.

Vietnam leads the pack with a cumulative solar PV installation of 5.5 GW by this year, or 44 percent of the total capacity in the region, said Rishab Shrestha, Woodmac's power and renewables analyst. This compares with 134 MW last year.

Among the encouraging signs for the solar industry was a recent auction for a 500 megawatt (MW) solar project in Malaysia of which 365 MW were bid at a price lower than the country's average gas-powered electricity, said Yeo Bee Yin, minister of energy, science, technology, environment and climate change.

"For the first time in the history of Malaysia we have a large-scale solar energy costs that is less than gas, Yeo said at the Singapore International Energy Week.

"We now finally have an alternative energy that is cheaper than gas to replace our peak energy demand at midday."

Malaysia has set a target to increase its renewable energy in electricity generation from current 6 percent to 20 percent by 2025, and a majority of this would be driven by solar.

The country also plans to open at least another 500 MW tender in the second quarter next year, Yeo said.

Singapore has also targeted at least 2 gigawatt (GW) peak of solar power capacity by 2030, or more than 10 percent of current peak electricity demand, potentially replacing natural gas which generates 95 percent of the country's power now.

"This being presented by the (Singaporean) authorities is very interesting as this points towards firm political determination to go towards a low-carbon economy in a constrained world," said Francesco La Camera, Director-General of International Renewable Energy Agency (IRENA).

Keisuke Sadamori, the International Energy Agency (IEA) director for energy markets and security said: "There needs to be some good measures to ensure that investors feel confident that their money could be returned in a relatively reasonable period."

Still, the mushrooming of solar PV in Vietnam has exceeded its grid capacity by 18 percent, Woodmac's Shrestha said, underscoring the need for further investments across power sector.

"The approved capacity for the Ninh Thuan and Binh Thuan provinces amounts to 5 GW, more than double the grid usable capacity," he said.

source: news.abs-cbn.com

Tesla's Musk adds solar roofs to his clean energy vision

Tesla Motors Inc. Chief Executive Elon Musk on Friday unveiled new energy products aimed at illustrating the benefits of combining his electric car and battery maker with solar installer SolarCity Corp.

The billionaire entrepreneur showed off solar-powered roof tiles that eliminate the need for traditional panels and a longer-lasting home battery, which Tesla calls the Powerwall, aimed at realizing his vision of selling a fossil fuel free lifestyle to consumers.

"This is sort of the integrated future. An electric car, a Powerwall and a solar roof. The key is it needs to be beautiful, affordable and seamlessly integrated," Musk said while showcasing the products on homes that once served as the set of the television show "Desperate Housewives."

Musk is the biggest shareholder in both Tesla and SolarCity, which is run by two of his first cousins. Analysts have been dubious of the deal's proposed synergies, with some suggesting the merger is a way for Tesla to rescue money-losing SolarCity. A vote on the acquisition is scheduled for Nov. 17.

The rollout of the product, expected as soon as next summer, would be "unwieldy" if the two companies are not combined, Musk told reporters.

Having two separate companies "slows things down, makes them more expensive. It's worse for shareholders," he said.

Musk refused to answer a reporter's question about how Tesla's balance sheet would accommodate the acquisition of SolarCity.

By incorporating solar modules into rooftops, Tesla is hoping to succeed with a solar technology that to date has had little success. Just this year, Dow Chemical said it would stop selling a solar shingle it launched five years ago.

Tesla's glass solar roof tiles would look far better than any similar product, Musk said. They can be manufactured in a range of styles, which were demonstrated on the rooftops on the set.

Tesla gave little detail on cost, except to say that the cost of the roof would be less than a conventional roof plus solar. The product will appeal to home builders and people looking to replace their roofs, Musk said, adding that the shingles would be more durable and have better insulation qualities than conventional roofs.

SolarCity co-founder Peter Rive, Musk's cousin, said the solar roofs could easily have a five percent share of the new roof market within a year or two.

The new generation of home and industrial batteries will be available this year.

source: www.abs-cbnnews.com

Obama hails Pinay scientist's saltwater lamp

MANILA – US President Barack Obama hailed a Filipina scientist's invention, a lamp that runs on saltwater, as the US leader made a push for the use of renewable energy ahead of a crucial meeting in Paris that will weigh heavily on the future of the earth.

During a light moment at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, Obama admired De La Salle University faculty member Aisa Mijeno for making the aspirations of ordinary people as her inspiration in coming up with an invention that provides a very basic necessity that is also environmentally sustainable.

''One of the most important things you said, in my mind at least, is that this starts from the bottom,'' Obama told Mjieno.

''If we're working at the grassroots level, seeing what folks need and figuring out efficient way how to deliver an improved quality of life while being environmentally sustainable, that's an enormous opportunity. But it starts at looking at the aspiration and hopes of ordinary people."

Mijeno's multi-awarded SALt (Sustainable Alternative Lighting) lamp runs on saltwater and can last for up to 8 hours before the saline solution inside it requires replacement.

''The main science behind the lamp is it’s a chemical reaction. You try to convert chemical reaction into energy. There's something inside the lamp and you have to change it, but you only have to change every 6 months if you are using the lamp 8 hours a day,'' Mijeno explained to Obama.

Mijeno said the idea of the SALt lamp was conceived when she visited mountain communities in Kalinga, where people had to walk for hours a day just to get kerosene to power their lamps.

Obama, in turn, said Mijeno is a ''perfect example of what we're seeing in a lot of countries – young entrepreneurs coming up with leapfrog technologies."

''They did not have to make some of the massive infra investments. This is part of the reason why the old idea of development and environmental sustainability is outdated. It does raise the issue though of what we can do support young entrepreneurs like Aisa,'' he said.

Obama said governments should provide tax incentives for those producing renewable and alternative sources of energy and help and provide support for research and development.

Mijeno said the SALt lamp project is now on its critical phase as she and her team attempt to mass produce the lamp.

''What we need is support from the private sector and the government to mentor us how we can scale up the project, [give] support in terms of funding,'' she said.

CLIMATE CHANGE SUMMIT

In his speech during the summit, Obama said renewable technology is the way to go with traditional sources of energy threatening the earth's climate.

Obama will attend a climate change conference in Paris, France by the end of the month where world leaders will craft a legally binding agreement on lowering carbon emissions.

Obama said the climate change conference would provide ''opportunities'' for businesses because the agreement will usher in ''new jobs and opportunities and an investment in technology that frankly needs a boost right now.''

''The urgent and growing threat of climate change is a challenge but also, I would argue, an opportunity,'' he said.

''An ambitious agreement in Paris will prompt investors to invest in clean energy technologies because they will understand the world is committed to a low-carbon future.''

The Philippines has already submitted its climate change mitigation and adaptation plan to the UN Framework Convention on Climate Change.

Obama said more than 160 countries, representing 90 percent of global emissions, have put forward climate targets for post-2020.

The Philippines had earlier said it would cut the archipelago nation's carbon emissions by 70 percent by 2030 but only if it receives support from developed nations.

source: www.abs-cbnnews.com

Clinton pledges to be America's renewable energy president

WASHINGTON, United States - Hillary Clinton laid out ambitious plans Monday to invest in solar and other renewable energy if elected US president, drawing a contrast with her fossil fuel-loving Republican rivals.

"We will make America the world's clean energy superpower," she declared at a campaign event in Des Moines, Iowa, unveiling highlights of a concept she said could ultimately impact every American household.

But she declined to weigh in on the controversial Keystone XL pipeline that would send Canadian crude oil to US refineries, a project criticized by environmentalists and many Democratic lawmakers that is awaiting a final State Department review.

"I refuse to turn my back on what is one of the greatest threats and greatest opportunities America faces," the Democratic 2016 frontrunner said about greenhouse gas emissions and their climate impact.

"I refuse to let those who are deniers, who disagree with what we need to do, to rip away all the progress we've made and leave our country exposed to the most severe consequences of climate change," she added.

"America needs to lead this fight, not go MIA."

Clinton laid out a two-pronged renewables agenda.

"We need to have more than half a billion solar panels installed across the country by the end of my first term," she said.

"Second, we'll set a 10-year goal of generating enough renewable energy to power every single home in America."

According to her campaign, those goals translate into an installed solar energy capacity of 140 gigawatts by 2020, or a 700 percent increase over the number of solar panels installed today.

Her plan calls for using renewable energy to generate a third of all electric power in 2020, along with investments that her campaign says will put America's economy on the road toward "deep decarbonization by 2050."

Climate change is a hyper-partisan issue in the United States, with many Republicans, including some 2016 presidential candidates, questioning whether human activity contributes to global warming.

In Congress, the Republican majority has fought anti-pollution standards established by President Barack Obama, notably for coal-fueled power plants.

Clinton signaled the need for a compassionate approach to Americans in the coal industry.

"We cannot close our eyes to the challenges facing hard-working families in Coal Country, who kept our lights on and our factories running for more than a century," she said.

In 2014, about 67 percent of US electricity came from fossil fuels, principally coal, according to the Energy Information Administration.

About 13 percent comes from renewables, including just 0.4 percent from solar. The rest, almost 20 percent, is generated by nuclear power plants.

Keystone is a quandary for Clinton, whose silence on the matter -- she was the top US diplomat when the State Department began its pipeline review -- has earned her rebukes from liberals seeking the Democratic nomination.

"I will refrain from commenting because I had a leading role in getting that process started and we have to let it run its course," she said.

Clinton proposes giving states and localities financial incentives to fight climate change, either by placing tighter emissions curbs than the law requires or through stepped-up investments in renewables.

source: www.abs-cbnnews.com