Released July 27, 2023 | SUGAR LAND
en
Editorial by Geoffrey Lakings for Industrial Info Resources (Sugar Land, Texas)--This has been a summer of extremes (heat, wildfires, and floods).
WMO: Heatwaves, wildfires mark summer of extremes
Intense heat is gripping large parts of the Northern hemisphere in this summer of extremes, causing major damage to the people's health and the environment. China set a new national daily temperature record, and many new station temperature records have been broken.
Wildfires have caused devastation and dozens of casualties and forced evacuations of thousands of people in parts of the Mediterranean, including Algeria, Greece, Italy and Spain. The Copernicus Atmosphere Monitoring Service (CAMS) has recorded a significant increase in intensity and emissions from wildfires in the eastern Mediterranean during the second half of July, particularly in Greece. In accordance with the GFAS dataset, the emissions from these wildfires have been the highest for this period of time in Greece in the last 21 years. Canada has seen its worst wildfire season on record, harming air quality for millions of people in North America.
Where both June
NY Times: June Was Earth's Hottest on Record. August May Bring More of the Same.
Last month was the planet's warmest June since global temperature record-keeping began in 1850, the National Oceanic and Atmospheric Administration said in its monthly climate update on Thursday. The agency also predicts unusually hot temperatures will occur in most of the United States, almost everywhere except the northern Great Plains, during August.
And now July are breaking records.
Reuters: July 2023 set to be world's hottest month on record
July 2023 is set to upend previous heat benchmarks, U.N. Secretary-General António Guterres said on Thursday after scientists said it was on track to be the world's hottest month on record.
The U.N. World Meteorological Organization (WMO) and European Union's Copernicus Climate Change Service also said in a joint statement it was "extremely likely" July 2023 would break the record.
"We don't have to wait for the end of the month to know this. Short of a mini-Ice Age over the next days, July 2023 will shatter records across the board," Guterres said in New York.
Fortunately in North America IIR News has reported Power Generation is holding up so far.
IIR News: So Far, Power Plants Meeting the Challenge of Record High Temperatures
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Broiling. Sizzling. Baking. Cooking. Roasting. Pick your metaphorical cooking synonym--the U.S. remains in the grip of an unrelenting heat wave, which has caused electricity use to skyrocket. For the most part, generators have proven up to the task, although there were scattered outages in Tucson, Arizona, and across Utah on Monday.
With a big contributor to the power gen stack being Renewables (Wind, Solar) which is helping grids weather this excessive heat.
ABC News: Solar, wind energy keeping Texas power grids running amid weeks long heat wave
Inflated prices and power failures could have occurred without green energy.
Green energy is helping to keep the Texas power grids alive amid a weeks long heat wave that has left power usage at an all-time high.
The perfect meteorological conditions have allowed renewable energy generated by wind turbines and solar panels to supply the grids with enough power to meet demand, experts told ABC News.
As the debate--like this Summer Weather--is truly heating up on the merits of Renewables and how much they are contributing or maybe hurting--through intermittency concerns--grid reliability.
UCSUSA: Fossil Fuels vs. Renewables: A Price on Reliability?
What happens when promise of electricity reliability fails in bad weather? How can gas power plant owners claim to be reliable but fail to make adequate efforts to purchase fuel?
We know that consumers pay for electricity reliability and bear the cost when supplies are tight.
We now know that gas power plant owners will vociferously deny responsibility for their failings. And we also know that extreme weather will create more challenges for reliability.
Utility companies, as well as state and federal government regulatory agencies, made a series of questionable decisions that together created the situation we find ourselves in today.
As one is aware that in the Lone Star State though Renewables seem to be a boon during this summer heat; Legislators have determined that they need to focus on grid reliability and invest in natural gas generation.
IIR News: Texas Legislation Would Give $10 Billion Boost for New Dispatchable Generation
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The Texas State Legislature passed, and Governor Greg Abbott (R) is expected to sign, legislation creating a $10 billion fund to support construction of new dispatchable electric generation capacity in the Lone Star State. The law does not require that the new capacity be gas-fired, though most observers were able to connect the dots...
On May 28, following passage of SB 2627 by both houses of the state legislature, Texas Lieutenant Governor Dan Patrick, also a Republican, issued this statement: "After Winter Storm Uri, it was clear for all to see that Texas needed more reliable, dispatchable power because renewable energy sources failed to keep the lights on for millions of Texans. ... SB 2627 will make sure that our grid is more resilient and levels the playing field between dispatchable and renewable energy sources."
Natural gas--which in its fashion--has also shown up this summer when the wind is not blowing or solar gen is being affected by wildfire smoke.
Reuters: US burns more natural gas as wind power drops, Canadian wildfires cloud solar
U.S. power generators were forced to burn more natural gas to produce electricity this week than usual as the amount of wind power dropped and smoke from Canadian wildfires blocked output from solar panels, according to U.S. and regional power data.
The amount of U.S. power generated by solar so far this week slid to just 4% of the total versus an average of 5% over the past month, according to federal energy data.
IIR News: U.S. Solar Power Output Sapped by Canadian Wildfires
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--As hundreds of wildfires continue to burn across Canada, the effects are being felt in the U.S. in the form of bad air quality and reduced power production from solar power stations.
Britt Burt, Industrial Info's vice president of research for the Global Power Industry, said solar power output in the New England and Northeastern regions, 10 states in all, have been the most affected by the smoke and soot coming from fires currently raging in Eastern Canada.
In the form of the highest summer power burn ever
Gelber & Associates: NatGas Daily
Though this means heightened gas generator maintenance this fall.
IIR News: U.S. Natural Gas Plants Eye Maintenance as Demand Booms Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. natural gas demand increased 43% from 2012 to 2022, driven by 116% growth in Louisiana and Texas, according to recent findings by the U.S. Energy Information Administration (EIA). While growing demand for liquefied natural gas (LNG) feedstock drove activity along the Gulf Coast, where exports are a booming industry, increased gas-fired domestic generation was the second-most significant factor, which the EIA attributed to coal-to-gas switching and rising demand for air conditioning. Industrial Info is tracking about three dozen maintenance related-projects at U.S. gas-fired power plants that are set to kick off in the third quarter, most of which are set to begin in September.
Though the debate rages on between whether it will be Renewables or Fossil/Thermal generation to meet the world's growing electricity demand
IIR News: IEA: Sharp Projected Rise in Electric Demand in China and India Expected to Swamp Declining Demand This Year in U.S., EU and Japan
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Global electric demand growth will slow in 2023, as declining demand in the U.S., Japan and the European Union (EU) are offset by robust increases in electricity use in China and India, the International Energy Agency (IEA) (Paris, France) said, in a new report released Wednesday.
The agency's Electricity Markets Report Update: Outlook for 2023 and 2024, an update of a report first issued this past February, predicted that global electricity use will rise about 2% in 2023, down from an increase of 2.3% in 2022. In 2024, the report projected, electricity use will rise 3.3%.
One is aware the latter is continuing to contribute to emissions--CO2 and Methane and although policies are being enacted the Climate outlook remains bleak.
IIR News: World Energy Statistical Review: New Owners, Same Bleak Climate Outlook
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--For the last seven decades BP Plc (NYSE:BP) (London, England) has produced an annual global energy statistical review. This past February, that project was passed to The Energy Institute (EI) (London, England), a collaboration between management consultants KPMG (London, England) and Kearney (Chicago, Illinois). Although the report's ownership has changed hands, the message remains largely the same: We are losing the battle to reduce carbon dioxide (CO2) emissions and slow or reverse global climate change.
EI President Juliet Davenport commented: "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."
And, if natural gas as thermal generation will be the answer as an "energy transition bridge fuel" one will need to be concerned about emissions mitigation not just on land but also on sea.
Natural Gas World: LNG producers must expand efforts to tackle emissions, says Petronas
LNG producers must expand their efforts to reduce global emissions between now and 2050, the chief sustainability officer for Malaysia's Petronas said on July 14 at the recent LNG2023 conference in Vancouver. Natural gas will play a role well into the future--more so than oil, Charlotte Wolff-Bye said at a conference session.
But whether it will be thermal generation or renewable generation electrifying our future one knows that transmission will be necessary to alleviate not only intermittency on the grid but also congestion.
Fortunately Industrial Info is tracking, reporting, and updating on the nature of these transmission projects.
IIR News: Texas' $10 Billion in T&D Projects to Aid Strained Power Grid
Researched by Industrial Info Resources (Sugar Land, Texas)--Texas's combined wind and solar generating capacity is expected to double by 2035, according to the U.S. Energy Information Administration (EIA), but there's a catch: The Lone Star State's transmission and distribution (T&D) system is sorely in need of upgrades to accommodate these resources when they are at peak production. Otherwise, the state is forced to curtail wind and solar production to maintain a balance between electricity supply and demand. Industrial Info is tracking nearly $10 billion worth of active and planned T&D projects across Texas, although more than half of that total is attributed to projects with a low probability (69% or less) of kicking off as planned.
Returning back to where we began our story about the summer of extremes (heat, wildfires, and floods) it is not just on land that temperatures are soaring but at sea as well.
Bloomberg: Ocean Temperatures Hit 90 Degrees, Fueling Weather Disasters
Heat searing enough to knock out mobile phones. Wildfire smoke that turns the skies an apocalyptic orange. Flash floods submerging towns in upstate New York and Vermont.
This grim procession of recent disasters is being driven in part by climate change. But there's one particular facet of global warming that's providing potent fuel to make extreme weather even more intense: record-hot oceans.
Global ocean surface temperatures in June were the highest in 174 years of data, with the emergence of the El Niño weather pattern piling onto the long-term trend. Near Miami, coastal Atlantic waters are pushing 90F (32C.)
And this also is affecting emissions and the focus on carbon neutrality but the world's oceans will have a role to play--present to future.
<
As well as World Leaders for we know that the U.S. & China have met recently for Climate Talks.
Reuters: US-China climate talks brought goodwill, modest progress
Climate talks this week between China and the United States were buoyed by goodwill, but the world's two biggest carbon polluters achieved more on righting their diplomatic relationship than battling climate change.
Despite a strong rapport between the countries' veteran envoys, expectations for a breakthrough were low when John Kerry and Xie Zhenhua sat down for three days of talks in Beijing through Wednesday.
But as well the G20 Finance Ministers in India because there will be a financial cost to whatsoever is decided as the world tackles climate change.
AP News: G20 finance chiefs meeting in India address global challenges like climate change and rising debt
Finance ministers from the Group of 20 nations meeting in India on Monday are poised to address critical global economic challenges, including the threats posed by climate change and rising debt among low-income countries.
The finance minister of India, which is hosting the global grouping, said the G20 will focus on strengthening the global economy as growth remains uneven and below average.
"What we need are coordinated international efforts to navigate this challenging period," Nirmala Sitharaman said in her opening remarks ahead of the meetings being held in Gandhinagar, a city in the western Indian state of Gujarat.
As we move toward COP28 in the UAE.
Reuters: UAE says it's committed to meet CO2 emissions targets after criticism
The United Arab Emirates has said it is committed to delivering targets to cut the CO2 emissions causing climate change after an independent research group said the country, which will host this year's COP28 climate summit, is far off track.
In an analysis published last week, research consortium Climate Action Tracker (CAT) said the UAE would miss its climate targets by a large margin if it went ahead with plans to expand oil and gas production and use - and saw its CO2 emissions rise through to 2030, at odds with the sharp decrease needed to curb climate change.
Alarabiya News: G20 should lead way on energy transition plans at COP28: President-designate al-Jaber
G20 powers must send stronger signals of their will to transform world energy systems and should lead the way on plans for mitigating global warming at the COP28 summit, the event's incoming president and the UN climate chief said on Thursday.
Representatives of the world's leading 20 economies meeting in Chennai, India, failed on Saturday to reach a consensus on phasing down fossil fuels, following objections by some producer nations.
"We must leave Chennai on the right path and with a clear signal that the political will to tackle the climate crisis is there," Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change, said in a joint statement with incoming COP28 President Sultan al-Jaber.
Thankfully, IIR is the leading provider of global market intelligence.
And will be able to provide the Research, News and Answers as we move forward with this Energy Transition/ESG.
Therefore as the world wrestles with the investments into & nature of this energy transition & transformation, let IIR Energy's Dedicated Market Research place the world at your fingertips. Tomorrow's News Today. Ask us! We have Answers!
As your feedback is very important to us. Please let us know if we may provide additional color or answer any other market questions you may have by replying to this note.
Additional IIR Resources:
WMO: Heatwaves, wildfires mark summer of extremes
Intense heat is gripping large parts of the Northern hemisphere in this summer of extremes, causing major damage to the people's health and the environment. China set a new national daily temperature record, and many new station temperature records have been broken.
Wildfires have caused devastation and dozens of casualties and forced evacuations of thousands of people in parts of the Mediterranean, including Algeria, Greece, Italy and Spain. The Copernicus Atmosphere Monitoring Service (CAMS) has recorded a significant increase in intensity and emissions from wildfires in the eastern Mediterranean during the second half of July, particularly in Greece. In accordance with the GFAS dataset, the emissions from these wildfires have been the highest for this period of time in Greece in the last 21 years. Canada has seen its worst wildfire season on record, harming air quality for millions of people in North America.
Where both June
NY Times: June Was Earth's Hottest on Record. August May Bring More of the Same.
Last month was the planet's warmest June since global temperature record-keeping began in 1850, the National Oceanic and Atmospheric Administration said in its monthly climate update on Thursday. The agency also predicts unusually hot temperatures will occur in most of the United States, almost everywhere except the northern Great Plains, during August.
And now July are breaking records.
Reuters: July 2023 set to be world's hottest month on record
July 2023 is set to upend previous heat benchmarks, U.N. Secretary-General António Guterres said on Thursday after scientists said it was on track to be the world's hottest month on record.
The U.N. World Meteorological Organization (WMO) and European Union's Copernicus Climate Change Service also said in a joint statement it was "extremely likely" July 2023 would break the record.
"We don't have to wait for the end of the month to know this. Short of a mini-Ice Age over the next days, July 2023 will shatter records across the board," Guterres said in New York.
Fortunately in North America IIR News has reported Power Generation is holding up so far.
IIR News: So Far, Power Plants Meeting the Challenge of Record High Temperatures
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Broiling. Sizzling. Baking. Cooking. Roasting. Pick your metaphorical cooking synonym--the U.S. remains in the grip of an unrelenting heat wave, which has caused electricity use to skyrocket. For the most part, generators have proven up to the task, although there were scattered outages in Tucson, Arizona, and across Utah on Monday.
With a big contributor to the power gen stack being Renewables (Wind, Solar) which is helping grids weather this excessive heat.
ABC News: Solar, wind energy keeping Texas power grids running amid weeks long heat wave
Inflated prices and power failures could have occurred without green energy.
Green energy is helping to keep the Texas power grids alive amid a weeks long heat wave that has left power usage at an all-time high.
The perfect meteorological conditions have allowed renewable energy generated by wind turbines and solar panels to supply the grids with enough power to meet demand, experts told ABC News.
As the debate--like this Summer Weather--is truly heating up on the merits of Renewables and how much they are contributing or maybe hurting--through intermittency concerns--grid reliability.
UCSUSA: Fossil Fuels vs. Renewables: A Price on Reliability?
What happens when promise of electricity reliability fails in bad weather? How can gas power plant owners claim to be reliable but fail to make adequate efforts to purchase fuel?
We know that consumers pay for electricity reliability and bear the cost when supplies are tight.
We now know that gas power plant owners will vociferously deny responsibility for their failings. And we also know that extreme weather will create more challenges for reliability.
Utility companies, as well as state and federal government regulatory agencies, made a series of questionable decisions that together created the situation we find ourselves in today.
As one is aware that in the Lone Star State though Renewables seem to be a boon during this summer heat; Legislators have determined that they need to focus on grid reliability and invest in natural gas generation.
IIR News: Texas Legislation Would Give $10 Billion Boost for New Dispatchable Generation
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The Texas State Legislature passed, and Governor Greg Abbott (R) is expected to sign, legislation creating a $10 billion fund to support construction of new dispatchable electric generation capacity in the Lone Star State. The law does not require that the new capacity be gas-fired, though most observers were able to connect the dots...
On May 28, following passage of SB 2627 by both houses of the state legislature, Texas Lieutenant Governor Dan Patrick, also a Republican, issued this statement: "After Winter Storm Uri, it was clear for all to see that Texas needed more reliable, dispatchable power because renewable energy sources failed to keep the lights on for millions of Texans. ... SB 2627 will make sure that our grid is more resilient and levels the playing field between dispatchable and renewable energy sources."
Natural gas--which in its fashion--has also shown up this summer when the wind is not blowing or solar gen is being affected by wildfire smoke.
Reuters: US burns more natural gas as wind power drops, Canadian wildfires cloud solar
U.S. power generators were forced to burn more natural gas to produce electricity this week than usual as the amount of wind power dropped and smoke from Canadian wildfires blocked output from solar panels, according to U.S. and regional power data.
The amount of U.S. power generated by solar so far this week slid to just 4% of the total versus an average of 5% over the past month, according to federal energy data.
IIR News: U.S. Solar Power Output Sapped by Canadian Wildfires
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--As hundreds of wildfires continue to burn across Canada, the effects are being felt in the U.S. in the form of bad air quality and reduced power production from solar power stations.
Britt Burt, Industrial Info's vice president of research for the Global Power Industry, said solar power output in the New England and Northeastern regions, 10 states in all, have been the most affected by the smoke and soot coming from fires currently raging in Eastern Canada.
In the form of the highest summer power burn ever
Gelber & Associates: NatGas Daily
Though this means heightened gas generator maintenance this fall.
IIR News: U.S. Natural Gas Plants Eye Maintenance as Demand Booms Researched by Industrial Info Resources (Sugar Land, Texas)--U.S. natural gas demand increased 43% from 2012 to 2022, driven by 116% growth in Louisiana and Texas, according to recent findings by the U.S. Energy Information Administration (EIA). While growing demand for liquefied natural gas (LNG) feedstock drove activity along the Gulf Coast, where exports are a booming industry, increased gas-fired domestic generation was the second-most significant factor, which the EIA attributed to coal-to-gas switching and rising demand for air conditioning. Industrial Info is tracking about three dozen maintenance related-projects at U.S. gas-fired power plants that are set to kick off in the third quarter, most of which are set to begin in September.
Though the debate rages on between whether it will be Renewables or Fossil/Thermal generation to meet the world's growing electricity demand
IIR News: IEA: Sharp Projected Rise in Electric Demand in China and India Expected to Swamp Declining Demand This Year in U.S., EU and Japan
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Global electric demand growth will slow in 2023, as declining demand in the U.S., Japan and the European Union (EU) are offset by robust increases in electricity use in China and India, the International Energy Agency (IEA) (Paris, France) said, in a new report released Wednesday.
The agency's Electricity Markets Report Update: Outlook for 2023 and 2024, an update of a report first issued this past February, predicted that global electricity use will rise about 2% in 2023, down from an increase of 2.3% in 2022. In 2024, the report projected, electricity use will rise 3.3%.
One is aware the latter is continuing to contribute to emissions--CO2 and Methane and although policies are being enacted the Climate outlook remains bleak.
IIR News: World Energy Statistical Review: New Owners, Same Bleak Climate Outlook
Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--For the last seven decades BP Plc (NYSE:BP) (London, England) has produced an annual global energy statistical review. This past February, that project was passed to The Energy Institute (EI) (London, England), a collaboration between management consultants KPMG (London, England) and Kearney (Chicago, Illinois). Although the report's ownership has changed hands, the message remains largely the same: We are losing the battle to reduce carbon dioxide (CO2) emissions and slow or reverse global climate change.
EI President Juliet Davenport commented: "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."
And, if natural gas as thermal generation will be the answer as an "energy transition bridge fuel" one will need to be concerned about emissions mitigation not just on land but also on sea.
Natural Gas World: LNG producers must expand efforts to tackle emissions, says Petronas
LNG producers must expand their efforts to reduce global emissions between now and 2050, the chief sustainability officer for Malaysia's Petronas said on July 14 at the recent LNG2023 conference in Vancouver. Natural gas will play a role well into the future--more so than oil, Charlotte Wolff-Bye said at a conference session.
But whether it will be thermal generation or renewable generation electrifying our future one knows that transmission will be necessary to alleviate not only intermittency on the grid but also congestion.
Fortunately Industrial Info is tracking, reporting, and updating on the nature of these transmission projects.
IIR News: Texas' $10 Billion in T&D Projects to Aid Strained Power Grid
Researched by Industrial Info Resources (Sugar Land, Texas)--Texas's combined wind and solar generating capacity is expected to double by 2035, according to the U.S. Energy Information Administration (EIA), but there's a catch: The Lone Star State's transmission and distribution (T&D) system is sorely in need of upgrades to accommodate these resources when they are at peak production. Otherwise, the state is forced to curtail wind and solar production to maintain a balance between electricity supply and demand. Industrial Info is tracking nearly $10 billion worth of active and planned T&D projects across Texas, although more than half of that total is attributed to projects with a low probability (69% or less) of kicking off as planned.
Returning back to where we began our story about the summer of extremes (heat, wildfires, and floods) it is not just on land that temperatures are soaring but at sea as well.
Bloomberg: Ocean Temperatures Hit 90 Degrees, Fueling Weather Disasters
Heat searing enough to knock out mobile phones. Wildfire smoke that turns the skies an apocalyptic orange. Flash floods submerging towns in upstate New York and Vermont.
This grim procession of recent disasters is being driven in part by climate change. But there's one particular facet of global warming that's providing potent fuel to make extreme weather even more intense: record-hot oceans.
Global ocean surface temperatures in June were the highest in 174 years of data, with the emergence of the El Niño weather pattern piling onto the long-term trend. Near Miami, coastal Atlantic waters are pushing 90F (32C.)
And this also is affecting emissions and the focus on carbon neutrality but the world's oceans will have a role to play--present to future.
<
- Ocean to remove CO2
- Ocean Conservation Activity
As well as World Leaders for we know that the U.S. & China have met recently for Climate Talks.
Reuters: US-China climate talks brought goodwill, modest progress
Climate talks this week between China and the United States were buoyed by goodwill, but the world's two biggest carbon polluters achieved more on righting their diplomatic relationship than battling climate change.
Despite a strong rapport between the countries' veteran envoys, expectations for a breakthrough were low when John Kerry and Xie Zhenhua sat down for three days of talks in Beijing through Wednesday.
But as well the G20 Finance Ministers in India because there will be a financial cost to whatsoever is decided as the world tackles climate change.
AP News: G20 finance chiefs meeting in India address global challenges like climate change and rising debt
Finance ministers from the Group of 20 nations meeting in India on Monday are poised to address critical global economic challenges, including the threats posed by climate change and rising debt among low-income countries.
The finance minister of India, which is hosting the global grouping, said the G20 will focus on strengthening the global economy as growth remains uneven and below average.
"What we need are coordinated international efforts to navigate this challenging period," Nirmala Sitharaman said in her opening remarks ahead of the meetings being held in Gandhinagar, a city in the western Indian state of Gujarat.
As we move toward COP28 in the UAE.
Reuters: UAE says it's committed to meet CO2 emissions targets after criticism
The United Arab Emirates has said it is committed to delivering targets to cut the CO2 emissions causing climate change after an independent research group said the country, which will host this year's COP28 climate summit, is far off track.
In an analysis published last week, research consortium Climate Action Tracker (CAT) said the UAE would miss its climate targets by a large margin if it went ahead with plans to expand oil and gas production and use - and saw its CO2 emissions rise through to 2030, at odds with the sharp decrease needed to curb climate change.
Alarabiya News: G20 should lead way on energy transition plans at COP28: President-designate al-Jaber
G20 powers must send stronger signals of their will to transform world energy systems and should lead the way on plans for mitigating global warming at the COP28 summit, the event's incoming president and the UN climate chief said on Thursday.
Representatives of the world's leading 20 economies meeting in Chennai, India, failed on Saturday to reach a consensus on phasing down fossil fuels, following objections by some producer nations.
"We must leave Chennai on the right path and with a clear signal that the political will to tackle the climate crisis is there," Simon Stiell, executive secretary of the United Nations Framework Convention on Climate Change, said in a joint statement with incoming COP28 President Sultan al-Jaber.
Thankfully, IIR is the leading provider of global market intelligence.
And will be able to provide the Research, News and Answers as we move forward with this Energy Transition/ESG.
Therefore as the world wrestles with the investments into & nature of this energy transition & transformation, let IIR Energy's Dedicated Market Research place the world at your fingertips. Tomorrow's News Today. Ask us! We have Answers!
As your feedback is very important to us. Please let us know if we may provide additional color or answer any other market questions you may have by replying to this note.
Additional IIR Resources:
- IIR Team Email: iirteam@iirenergy.com
- Latest IIR Crude & Products Market Scorecard
