In in the present day’s Electrek Inexperienced Vitality Temporary (EGEB):
- South Korea’s president Moon Jae-in has formally pledged to achieve web zero by 2050…
- …However Australia digs its heels in, refusing to set emissions targets.
- Virginia completes one other photo voltaic farm in its journey to a inexperienced financial system.
- Arcadia Energy is dedicated to creating clear power work for the planet and Individuals’ financial institution accounts — all with out altering your utility firm. Sign up to receive your $20 Amazon Gift Card — *advert.
South Korea: web zero by 2050
In July, as Electrek reported, South Korea introduced a plan to spend $95 billion to assist its financial system recuperate from the pandemic and create jobs. The plan set a objective of web zero by 2050, an finish to funding of abroad coal crops, and the introduction of a carbon tax.
As we speak, South Korea’s president Moon Jae-in introduced that Asia’s fourth-largest financial system is formally committing to achieve web zero by 2050. The inexperienced power transition plan momentum in East Asia within the final two months has been fast: South Korea follows Japan, who made its own web zero by 2050 pledge earlier this month, and China, who committed to net zero by 2060 on the finish of September.
In a speech to the Nationwide Meeting, Moon mentioned:
The federal government has pushed for sturdy coverage to shift power [sources] to this point, however we nonetheless want to enhance many issues. We are going to go towards carbon impartial by 2050, taking motion on local weather change.
We are going to change coal energy with renewable power, creating new markets and industries in addition to jobs.
Nikkei Asia reports that KB Monetary Group, Samsung C&T, and Kepco have introduced exits from thermal coal energy initiatives.
Australia: not web zero by 2050
Australia has responded to the momentum of its neighbors with a refusal to set emissions targets. China, Japan, the UK, and South Korea account for greater than AUD $310 billion (US $218 billion) in Australian annual commerce — they usually all now have web zero targets. But coal and pure gasoline alone are price greater than 25% (AUD $110 billion, or US $77 billion) of Australia’s exports.
One would assume that will be a critical concern for the Australian authorities — however nope. The Sydney Morning Herald reports:
Prime Minister Scott Morrison says he won’t be dictated to by different governments’ local weather change targets, declaring he’s not anxious about the way forward for Australia’s exports regardless of 4 of the nation’s high buying and selling companions adopting net-zero emissions targets.
The Morrison authorities has argued it would adjust to the phrases of the Paris local weather settlement by reaching web zero by someday within the second half of the century however has not set a agency goal.
Morrison’s response on Wednesday to Korea’s announcement and a private plea from UK prime minister Boris Johnson to take “daring motion” and set targets was:
I’m not involved about our future exports. Australia will set our insurance policies right here. Our insurance policies gained’t be set in the UK, they gained’t be set in Brussels, they gained’t be set in any a part of the world apart from right here.
One factor the British Prime Minister and I agree on is that reaching emissions reductions shouldn’t come at the price of jobs in Australia or the UK.
Fuel mining and exploration make up 0.2% of the Australian workforce.
New photo voltaic in Virginia
Governor Ralph Northam (D-VA) signed the Virginia Clean Economy Act in April, so count on to see a whole lot of inexperienced power exercise within the mid-Atlantic state. The newest photo voltaic farm to be accomplished is in Danville, a city that sits on the North Carolina border.
Danville Utilities, in partnership with EPC power agency CS Vitality, photo voltaic unbiased energy producer Navisun, and clear power funding firm TurningPoint Vitality, has accomplished a 14 MW DC utility-scale photo voltaic farm. The 100-acre undertaking is made up of two adjoining websites. It’ll generate an estimated 23,551 MWh yearly for the neighborhood. It equates to about 3% of Danville Utilities’ yearly power output, or sufficient to energy 1,500 properties every year.
Jason Gray, director of utilities for the Metropolis of Danville, which has a inhabitants of round 41,000, mentioned:
These photo voltaic farms will… contribute to town’s present renewable energy provide portfolio and assist us meet our long-term objective of being fully unbiased of fossil-fueled technology.
Danville is a superb instance of inexperienced power initiatives on the native stage throughout the US, that are quickly growing.
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