Greenpeace EU Energy [R]evolution Scenario 2050

July 9th, 2010

Greenpeace International and the European Renewable Energy Council have recently published a set of detailed proposals to dramatically reduce CO2 emissions in Europe. It is a  long, detailed document that many people will not read, although I urge you to try - there are many simple to appreciate graphs and other graphics. The report is, however, a very important analysis, review and set of strategic and tactical proposals to both reduce CO2 emissions and wean us off fossil fuels.

The plan covers from 2010 through to 2050 when 92% of energy will be renewable and CO2 emissions will be reduced by 95%. They claim the total cost is €2000 billion but the saving will be €2650 billion (mostly because of the accelerating rise in the price of increasingly rare fossil fuels).

The aims are:

  • Reduce CO2 emissions
  • Make energy supply more secure
  • Reduce dependence on unsustainable energy source
  • Reduce the cost of energy

There are two scenarios presented as well as a reference scenario - business as usual.

  • Basic  - reduces CO2 by 75%
  • Advanced - reduces CO2 by 95%

The plan presents a review of all current sustainable and unsustainable energy sources, comparing their cost, maintenance cost, CO2 emission and other qualities and so is a very useful source of information as well as a detailed plan for the future including changed business models.

Vision for the advanced scenario

  1. Reduce primary energy demand by over a third from the 2007 level of 73,880 PJ/a to 46,030 PJ/a in 2050. The reference scenario would see demand of 75,920 PJ/a.
  2. Electric vehicles and hydrogen produced from electrolysis. The share of electric vehicles would be 14.6% by 2030 and 62% in 2050. There would also be more public transport.
  3. Increased use of CHP. CHP would be increasingly based on biomass and natural gas.
  4. By 2050, 97% of the EU’s electricity would come from renewable energy. Renewable energy capacity of 1520 GW will produce 4110 TWh of renewable electricity per year from 2050. “A significant share of the fluctuating power generation from wind and solar photovoltaics will be used to supply electricity for vehicle batteries and produce hydrogen as a secondary fuel in transport and industry,” the study says.
  5. Renewable sources will account for 92% of heat supply by 2050 with a particular focus on biomass and geothermal.
  6. Finally, 92% of final energy demand will be covered by renewable energy by 2050.

“To achieve an economically attractive growth of these resources, a balanced and timely mobilisation of all technologies is of great importance. Such mobilisation depends on technical potentials, actual costs, cost reduction potentials and technical maturity,” EREC and Greenpeace say.

 Some details

For the advanced model here are the relative global usage figures between 2010 and 2050 for fossil fuels.

Source         2010      2050
Oil              155,920   51,770
Gas            104,845   34,285
Coal           135,890     7,501
[figures in PetaJoules to make comparisons simpler]

Also for the advanced model here are the planned European sustainable sources of electricity between 2010 and 2050 in GigaWatts.

Source             2010      2050
Hydro                 140          163
Biomass                20         100
Wind                      57        497
Geothermal           1           96
Solar elec               5        498
Solar heat              0           99
Ocean                      0           66
Total                   223     1,518

Part of the plan which may be contentious is that the plan involved around a 36% reduction in energy consumption across Europe from 73,880PJ/a to 46,030PJ/a. This reduction is critical if fossil and nuclear are to be phased out and would be made up of efficiency savings but would might include some level of energy use regulation.

  

The full report (4MB), in PDF, can be downloaded here.

Private final salary pensions hit by government

July 9th, 2010

Steve Webb, pensions minister, plans to change the inflation measure used for defined benefit or final salary private sector pensions.

At the moment these are normally linked to the retail prices index (RPI) measure but the government is set to change this to the consumer prices index (CPI).  This follows last month’s announcement that public sector pensions will use CPI. The CPI is usually lower than the RPI, which includes housing costs such as mortgage interest payments and council tax whereas the CPI does not. This change alone will cut these pensions by up to 25%. About 12 million final salary members will be affected and should additional private savings to fill this future gap.

Unsurprisingly the CBI welcomed this move, claiming CPI is a more accurate inflation measure for pensioners who often have no mortgage.  However, TUC general secretary Brendan Barber branded the change a “stealth cut”.

“The new Government undoubtedly deserves praise for their early commitment to linking the state retirement pension to the higher of earnings or prices but it now looks as if most other pensions will go up less than they used to in most years. Over someone’s whole retirement this will add up to a significant loss. This is a stealth cut on the pensions of middle income Britain.”

Ethical Investment and some journalists

July 6th, 2010

I wish journalists would do their homework,  instead of using easy headlines and scaremongering,  suggesting that ethical and environmental funds are an underperforming.  They should read the Mercer Report commissioned by the UN, which clearly showed that ethical and environmental funds need not  underperform - they looked at the 20 year picture.

Of more concern,  is the failure even in articles in serious papers and journals, to look at the bigger picture:  that we will need to develop and invest in  a variety of energy sources to meet our future domestic and industry needs as well as reduce our dependence on imported fuel from unstable regimes that may decide to stop supplying the UK. Nnuclear alone cannot fulfill that and electric cars are still on the starting blocks,  suit short journeys etc.

It is worrying after so many years, that ethical and green funds are being discussed in some flippant,  faddish way,  rather than arising out of an intelligent,  considered  strategy to deal with conventional government and bigger business failure in previous decades to plan for the longer term for all of us. The earliest investors in wind energy were aware investors with modest lump sums willing to be the pioneers of new technologies.  Wind energy is now being embraced by much larger firms such as EDF.   The companies and the technologies behind SRI can deliver performance and jobs if we have the patience and foresight to realize and our need for them  is greater than ever.

Is there an ethical way to buy a house?

July 5th, 2010

Recently in the Independent on Sunday on of our advisers, Helen Tandy, was extensively quoted for advice on house buying.

The full Story http://www.independent.co.uk/money/spend-save/wealth-check-is-there-an-ethical-way-to-buy-a-house-2017684.html

Green Investment Bank

July 1st, 2010

 The Green Investment Bank Commission recently submitted their report to government.

The driving force behind the Green Investment Bank (GIB) is that the UK needs to move to a low carbon economy within the next 40 years. The reductions already decided by government are 20% by 2020 and 90% by 2050, these both relative to 1990 levels.

 The report [ http://www.climatechangecapital.com/thinktank/ccc-thinktank/publications.aspx ] is very wide-ranging and comes up with a complete set of suggestions, many already welcomed by the broad green movement, for example http://www.foe.co.uk/resource/press_releases/green_bank_29062010.html .

 GIB is needed because of the failure of traditional funding methods and the large number of previous government initiatives. It would ensure energy security and reduce exposure to increasingly high and volatile fossil fuel prices. It is also hoped it will create lots of new businesses and jobs.

 Although GIB will look across the range of CO2 reduction methods it will focus on energy generation, efficiency and distribution because it accounts for the largest single emitter. However, in this area the UK is quite far behind in both the amount of renewable power in current use and in 2020 targets across Europe. We currently have rather more renewables than Malta and Luxemburg. Our 2020 target of 15% is behind 17 countries and ahead of only 9; it’s also behind 10 countries’ 2005 actual renewables.

 The amounts of money claimed to be required are pretty staggering. In between £800bn to £1000bn is required up to 2030 - that’s £40bn to £50bn per year. £200bn of that is needed up to 2020 just for current UK energy policy commitments.Around £550bn (£55bn pa)  is needed for the UK’s low carbon infrastructure – this is a step up from our spend of £6bn in 2009.

 Where will all the money come from? This is one of the things that will no doubt be argued over and decided politically.

  • Start up capitalisation could come from the private sector banks including those owned by government, the new bank levy and bonus tax, bank sales, UK share of the EU Emissions Trading Scheme auctions [£40bn 2012-2020], sales of government owned assets.
  • For grant aid it would get the money from the government as the taken over 9 quangos and funds current do. [ £2.2bn ]
  • For on-going activities and investments the possible sources are capital markets, taking over the CERT levy on energy bills, GIB debt fund and the sale of externally rated Green bonds and ISAs to the public. 

Organisationally GIB will be a public body accountable to government but with commercial independence. It is suggested that its board be made up from private sector entirely. It will work closely with the banks and other financial institutions taking care intervene only when the private sector fails to. It will also take over all previous government quangos and funds that address carbon reduction. Profits from GIB will be re-invested in its core aim of reducing carbon emission.

 GIB will cover both large infrastructure investment down to individual domestic generation and insulation. If necessary it will buy completed renewables assets such as wind farms. It will provide insurance to renewables projects and underwrite long-term carbon pricing.

Lack of women representation

June 29th, 2010

I am seeing RED or purple over the last couple weeks, invites to several high profile conferences/events where there are dozens of speakers and NO women, or one out of 10/20  if we are lucky
 

 Invite to major EU conference - 5 women out of 200 speaker  invitees and then only because they happened to be the few on committees of influence. For this EU Conf, one list was headed “Wisemen and VIPs” - this included FT journalists and NOT ONE woman” - when so many women work, pay taxes, bank, invest, this is really insulting!!!!

No time for more rant - wish there were some equality measures with teeth! 

I think we should start to send copies of these events thro to a few women’s/equality  pressure groups, that will carry more influence than an isolated moan from a small  business.

Summer 2010 Newsletter

June 8th, 2010

From our site.

http://www.gaeia.co.uk/modules.php?op=modload&name=News&file=article&sid=261&mode=thread&order=0&thold=-1

New Model Adviser Conference

January 20th, 2010

brigid-at-newmodel-adviser-conference-2010

The overwhelming majority of the British population will not gain access to a proper financial plan as a result of changes to be introduced in the retail distribution review (RDR), according to The Gaeia Partnership director Brigid Benson at the Citywire New Model Adviser Conference this month.

 

 

 

Visit our new Facebook page and become a fan: The GAEIA Partnership

 

Follow us on twitter: GAEIA

COP15 Copenhagen Climate Change Conference

December 16th, 2009
COP15 Copenhagen

COP15 Copenhagen

It is now day 10 of the conference and things have turned out quite badly.

There seems to be little prospect of a meaningful deal. The USA will not sign up to Kyoto; the developing world will sign up to Kyoto extensions only. It looks like they’ll have another meeting in 6 months in Mexico. Up there with USA is Canada with its “tar sands” extraction of oil at enormous expense.

The only long-term solution is to use only as much energy as can be extracted from energy arrivinSung from the Sun. This includes solar panels, wind farms and hydro. [ The Sun creates the wind and couds which are the source of hydro ]. In the meantime it is possible that we shall carry on burning fossil fuels until they just run out. Sad but true.

The pre-meeting hack of the Climatic Research Unit emails and files seems to have died down apart from in the hard denier community. It certainly looks to me like the climate scientists make poor software engineers.

Fairtrade Cadbury

July 23rd, 2009

Cadbury are making their Dairy Milk chocolate bar Fairtrade. Full story on our main website.

Pity about George Alagiah having to leave Fairtrade leadership because of paranoid BBC. But worse Cadbury is closing Keynsham Dairy Milk factory - moving to Eastern europe.

 

I hope neither of these changes has anything to do with Cadbury going Fairtrade.