HEADLINES FROM AUGUST 2024
During August 2024, the following significant news items arose globally and seem to us to be the most note-worthy in the context of progress towards net-zero:
- Long Term Road Maps: During August 2024, the International Energy Agency (IEA) published Can government partnerships support responsible and reliable critical mineral supply chains?
The publication provides an excellent summary of the current state of play, and a treasure trove of links to source materials:
- Strategic partnerships on critical minerals between European Union and the Democratic Republic of Congo, United Kingdom and Zambia and United States and Japan
- Research from Natural Resource Governance Institute on State-State Mining Partnerships and Their Implications
- Critical Minerals Policy Tracker
- Extractive Industries Transparency Initiative (EITI) Standard
- EU Critical Raw Materials Act
- EU Global Gateway Strategy
- Status of Hydrogen and Potential for Cooperation: In previous editions of P2N0, the cooperation between countries in respect of the development of supply and demand for hydrogen and hydrogen based / derived fuels has been covered. In July, 2024, adelphi published Status of Hydrogen and Potential for Cooperation, Australia, Germany, Japan and Korea. The author has long expressed the view that there is a need for Government-to Government (G-t-G) cooperation to develop CCS / CCUS project and hydrogen and hydrogen based / derived fuels supply and demand. The publication provides a helpful overview of the key interfaces that will enable G-t-G cooperation.
To the author, the key feature of G-to-G cooperation is the role that governments can play as the wholesale buyers and sellers of hydrogen and hydrogen based / derived fuels to provide a structure that sells and buys hydrogen and hydrogen based / derived fuels at a range of prices, noting that one of the challenges at the moment is early mover disadvantage, with higher costs and prices, knowing the costs and prices will reduce overtime. Wholesale buyers and sellers across the global market can sell at a price point that will encourage investment in new technology and demand for hydrogen.
- State of the Art: CCS Technologies 2024: During the first week of August 2024, the good folk at the Global CCS Institute published State of the Art: CCS Technologies. The publication is excellent providing an insight into technologies being used, and contemplated for use, for carbon capture.
- Article 6.2 Reference Manual: During the first week of August 2024, the Article 6.2 Reference Manual – Reference Manual for the accounting, reporting and review of cooperative approaches was published. What is "written on the tin, is in the tin". For those active in this area, this publication is well-worth a read.
- Global Methane Pledge: Ahead of
COP-26 in Glasgow, Scotland, in
November 2021, the EU and the
US signed the Global Methane Pledge to reduce CH4
emissions by one third by 2030. 158 participants have now signed
the Global Methane Pledge (with the details of the countries that
have pledged listed at www.globalmethanepledge.org).
On August 7, 2024, the World Economic Forum published Global Methane Pledge: which countries are cutting emissions? The publication provides a light-touch in noting that more needs to be done. - Net-zero BloombergNEF: During the first week of August 2024, the good folk at BloombergNEF published New Energy Outlook 2024 (NEO 2024). NEO 2024 considers whether it is likely that we will achieve net-zero GHG emissions by 2050. NEO 2024 concludes that while possible to achieve net-zero GHG emissions by 2050, the likelihood is lessening.
- The headlines from NEO 2024 are consistent with each other publication considering like or associated matters (including the need to triple renewable electrical energy generation capacity by 2030). Interestingly, NEO 2024 states that green hydrogen is to play a crucial role in the industrial and the transportation sectors. The publication is excellent.
- N-BS in Global South: During the first few days of August 2024, the good folk at the Council on Energy, Environment, Energy and Water (CEEW) published Accelerating Investments for Nature-based Solutions in the Global South – A Unified Framework for Mapping and Estimating Benefits.
The publication is both excellent and timely. Excellent because it provides a sound basis for assessing n-b solution projects for the purposes of investment – the ENSURE methodology. Timely because it provides an excellent addition for the purposes of the development of projects for the purposes of Articles 2 and 4 of the Paris Agreement. The publication is well-worth a read.
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