Please click 'download' to download the PDF.
The world can save an estimated US$550 billion on the cost of deploying clean energy technologies over the next decade, putting them on a path to cost competitiveness, if countries work together to accelerate innovation by unlocking global collaboration. This is one of the key findings in a new report, United Innovations: cost-competitive clean energy through global collaboration, published today by the Carbon Trust, with funding from the UK Foreign and Commonwealth Office Prosperity Fund.
There is no better way to spend a Monday night than joining one of B-Hive’s famous FIN AND TONICs in New York City! This time CO2Logic had the honor to be co-host for this memorable event. We had the pleasure of gathering at Flanders Investment & Trade’s beautiful space as our experts discussed the future of Sustainable Finance.
In the final paper/presentation for HPL480: Environmental Policy & Econoimics, I argue that we should pursue Cap & Trade policies rather than a straight carbon tax.
Please click 'download' to download the PDF.
The world can save an estimated US$550 billion on the cost of deploying clean energy technologies over the next decade, putting them on a path to cost competitiveness, if countries work together to accelerate innovation by unlocking global collaboration. This is one of the key findings in a new report, United Innovations: cost-competitive clean energy through global collaboration, published today by the Carbon Trust, with funding from the UK Foreign and Commonwealth Office Prosperity Fund.
There is no better way to spend a Monday night than joining one of B-Hive’s famous FIN AND TONICs in New York City! This time CO2Logic had the honor to be co-host for this memorable event. We had the pleasure of gathering at Flanders Investment & Trade’s beautiful space as our experts discussed the future of Sustainable Finance.
In the final paper/presentation for HPL480: Environmental Policy & Econoimics, I argue that we should pursue Cap & Trade policies rather than a straight carbon tax.
BP Energy Outlook
The Energy Outlook explores the forces shaping the global energy transition out to 2040 and the key uncertainties surrounding that transition. It shows how rising prosperity drives an increase in global energy demand and how that demand will be met over the coming decades through a diverse range of supplies including oil, gas, coal and renewables.
The new working paper “The Empirics of Enabling Investment and Innovation in Renewable Energy” provides insights on the key policy drivers and barriers to investment and innovation in renewable power in OECD and G20 countries. Based on econometric analysis, it assesses the impacts of climate mitigation policies and the quality of the investment environment on both investment and patenting activity in renewable-power generation since 2000. The analysis also assesses how the investment environment and related policy misalignments influence the effect of climate mitigation policies in encouraging renewables investment and innovation.
www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
Business and Sustainable Development - The Green Race is OnMichael Soron
Provided May 10, 2010 at Simon Fraser University by Bjorn Stigson, President of the World Business Council on Sustainable Development. (Recv'd via email distrubtion from SFU)
BP's annual energy forecast. This is the first year they've stretched the timeline--from 2030 to 2035. According to BP forecasters, global energy demand will rise 41% from now until 2035 with 95% of that growth coming from "emerging economies." Also, gas as a source of energy is growing fastest for fossil fuels and by 2035 is expected to be at parity with coal--each providing about 27% of power needs in 2035. BP says shale gas will make up 68% of U.S. gas production by 2035.
COP15, The Deal Sabotage At Copenhagen CE 82Sandip Sen
The "Seal the Deal" dream of Copenhagen has been sabotaged by a carefully planned move by the fossil fuel lobby and the Kyoto defaulters to scrap Kyoto proposal and introduce the infinitely more complex emission cap regime. As the struggle for stopping climate change intensifies and the struggling carbon economy lies exposed, it is time to bring in the main players of renewable energy solar energy, wind power and rainforest plantations to the forefront to ensure DIRECT FINANCE & TECHNOLOGY DEALS , the positive solutions in climate change.
With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets. In this short report Nathan Goode, global leader for energy & cleantech, calls for a change in the narrative around sustainability arguing that we need to start talking in language that resonates with businesses.
Press conference and communication on EU Common Gateway
( in analogy or as a response to China Belt & Road/ Global Development Initiative, and USA Build Back Better).
1 December 2021
Sitra: Kuluttajien asentet geenitutkimuksia kohtaan (Taloustutkimus 12/2013)Sitra / Hyvinvointi
Joka kolmas suomalainen olisi valmis arvioimaan elämäntapojaan uudelleen, mikäli hän saisi tarkempaa tietoa omista perinnöllisistä riskitekijöistään, selviää Sitran Taloustutkimuksella teettämässä kyselytutkimuksessa. Valtaosa suomalaisista suhtautuu geenitestien yleistymiseen terveydenhuollossa myönteisesti. Tärkeimpänä kehityskohteena kansalaiset pitävät lainsäädännön kehittämistä sellaiseksi, etteivät geenitiedot joudu ulkopuolisten käsiin.
Tutkimuksessa selvitettiin kansalaisten asenteita geenitestejä kohtaan, geenitesteihin liittyviä huolenaiheita ja sitä, kenelle päätös geenitestin tekemisestä kuuluu. Tutkimuksen kohdejoukkona oli valtakunnallisesti edustava otos yli 15-vuotiaista, internetiä käyttävistä suomalaisista. Vastaajamäärä oli 2071 henkilöä.
BP Energy Outlook
The Energy Outlook explores the forces shaping the global energy transition out to 2040 and the key uncertainties surrounding that transition. It shows how rising prosperity drives an increase in global energy demand and how that demand will be met over the coming decades through a diverse range of supplies including oil, gas, coal and renewables.
The new working paper “The Empirics of Enabling Investment and Innovation in Renewable Energy” provides insights on the key policy drivers and barriers to investment and innovation in renewable power in OECD and G20 countries. Based on econometric analysis, it assesses the impacts of climate mitigation policies and the quality of the investment environment on both investment and patenting activity in renewable-power generation since 2000. The analysis also assesses how the investment environment and related policy misalignments influence the effect of climate mitigation policies in encouraging renewables investment and innovation.
www.oecd.org/daf/inv/investment-policy/clean-energy-infrastructure.htm
Business and Sustainable Development - The Green Race is OnMichael Soron
Provided May 10, 2010 at Simon Fraser University by Bjorn Stigson, President of the World Business Council on Sustainable Development. (Recv'd via email distrubtion from SFU)
BP's annual energy forecast. This is the first year they've stretched the timeline--from 2030 to 2035. According to BP forecasters, global energy demand will rise 41% from now until 2035 with 95% of that growth coming from "emerging economies." Also, gas as a source of energy is growing fastest for fossil fuels and by 2035 is expected to be at parity with coal--each providing about 27% of power needs in 2035. BP says shale gas will make up 68% of U.S. gas production by 2035.
COP15, The Deal Sabotage At Copenhagen CE 82Sandip Sen
The "Seal the Deal" dream of Copenhagen has been sabotaged by a carefully planned move by the fossil fuel lobby and the Kyoto defaulters to scrap Kyoto proposal and introduce the infinitely more complex emission cap regime. As the struggle for stopping climate change intensifies and the struggling carbon economy lies exposed, it is time to bring in the main players of renewable energy solar energy, wind power and rainforest plantations to the forefront to ensure DIRECT FINANCE & TECHNOLOGY DEALS , the positive solutions in climate change.
With momentum building towards the UN Climate Change Conference in Peru, new figures from IBR reveal that businesses leaders in emerging markets are more focused on the sustainability of their operations compared with peers in developed markets. In this short report Nathan Goode, global leader for energy & cleantech, calls for a change in the narrative around sustainability arguing that we need to start talking in language that resonates with businesses.
Press conference and communication on EU Common Gateway
( in analogy or as a response to China Belt & Road/ Global Development Initiative, and USA Build Back Better).
1 December 2021
Sitra: Kuluttajien asentet geenitutkimuksia kohtaan (Taloustutkimus 12/2013)Sitra / Hyvinvointi
Joka kolmas suomalainen olisi valmis arvioimaan elämäntapojaan uudelleen, mikäli hän saisi tarkempaa tietoa omista perinnöllisistä riskitekijöistään, selviää Sitran Taloustutkimuksella teettämässä kyselytutkimuksessa. Valtaosa suomalaisista suhtautuu geenitestien yleistymiseen terveydenhuollossa myönteisesti. Tärkeimpänä kehityskohteena kansalaiset pitävät lainsäädännön kehittämistä sellaiseksi, etteivät geenitiedot joudu ulkopuolisten käsiin.
Tutkimuksessa selvitettiin kansalaisten asenteita geenitestejä kohtaan, geenitesteihin liittyviä huolenaiheita ja sitä, kenelle päätös geenitestin tekemisestä kuuluu. Tutkimuksen kohdejoukkona oli valtakunnallisesti edustava otos yli 15-vuotiaista, internetiä käyttävistä suomalaisista. Vastaajamäärä oli 2071 henkilöä.
Progressive companies around the world are developing products and services that will revolutionise industries and deliver transformative change for society and our planet. These solutions are driving new business growth while significantly reducing emissions towards a low-carbon, sustainable future for all.
Accelerating and scaling up implementation across sectors and borders, however, will require a higher level of collaboration than we have ever seen before, between business, government, and NGOs. The Business for the Environment (B4E) COP17 Dialogue aims to facilitate this, bringing stakeholders together to forge new partnerships and take real action on climate change. Leading the way and powering ahead for a clean industrial revolution.
Peter Sweatman, Climate Strategy & Partners - Clean energy investments to sup...OECD Environment
Presentation from 7th OECD Forum on Green Finance and Investment (6-9 October, 2020), Closing Session: Clean energy investments to support a sustainable COVID recovery - Peter Sweatman, Climate Strategy & Partners
Il World Energy Focus, nuovo mensile online della WEC's community, una e-publication gratuita per essere sempre aggiornato sugli sviluppi del settore energetico. Il World Energy Focus contiene news, interviste esclusive e uno spazio dedicato agli eventi promossi dai singoli Comitati Nazionali.
We are living in an ageing world; people are living longer. We are living on an ageing planet; in a climate emergency. So how does the topic of longevity fit into the climate change agenda? What is the coherent policy response to the interface between climate change and an ageing society?
ILC-UK, in collaboration with the ILC Global Alliance and AAG are building a ‘Climate change in an ageing world’ initiative to be launched alongside the COP26 (November 2021).
This webinar provided an opportunity to feed into the scoping and planning of our initiative.
Similar to Tiina Kähö: Towards Carbon Neutral Economy (20)
A presentation on climate solutions and the results from Sitra's Green to Scale projects for international journalists visiting Finland on 31 October 2018. Presented by Leading specialist Outi Haanperä.
A presentation on the circular economy playbook by Sitra, Technology Industries Finland and Accenture for international journalists visiting Finland on 31 October 2018. Presented by Leading specialist Jyri Arponen.
A presentation on Sitra and the circular economy and WCEF for international journalists visiting Finland on 31 October 2018. Presented by Project director Kari Herlevi.
Winning Climate Strategies: Solutions for asset owners from beginner to best practise
Catherine Howarth's presentation in the Finnish Climate Summit, June 2018. Catherine Howarth is the Chief Executive of ShareAction, that coordinates civil society activism to promote responsible investment across Europe.
The SHIFT framework is a practical tool for finding the best ways to encourage ecologically sustainable consumer behavior, whether the solution is a product, a service or behavior change. It is intendent for marketing practitioners, companies large and small, marketing agencies, and societal marketers. The framework is based on a thorough review of the scientific literature on sustainable consumer behavior.
Presentation by professor Kate White, University of British Columbia, Vancouver.
Thomas Kolster, Mr. Goodvertising, esitys Sitran Aamuharppaus-tilaisuudessa 27.3.2018 / Thomas Kolster's presentation at Sitra's event on March 27th, 2018.
Uusiutuvan energian ajankohtaispäivä 23.1.2018
Matti Kahra, Sitra: "Suomen 2030 ilmasto -ja energiatavoitteet - tehdäänkö oikeita asioita riittävästi?"
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
2. Sitra Tiina Kähö 18.2.2015
Our duty is to promote Finland's:
• stable and balanced development;
• quantitative and qualitative economic growth;
• international competitiveness and co-operation.
Act on Sitra, the Finnish Innovation Fund (717/1990)
2
Heading for the future
Sitra is a fund
operating directly
under the Finnish
Parliament. We
finance our
operations from the
returns on our
endowment capital
and venture capital
investments.
As an independent
societal actor, we
offer training and
bring together
experts who seek
solutions to systemic
challenges, which may
even be applicable on
an international basis.
We anticipate
change and its impact
on the Finnish people.
We try out new
operating models and
accelerate business
activities aimed at
generating sustainable
well-being.
We influence
societal structures and
promote changes
that increase well-
being.
An
independent
societal game
changer
3. 3Sitra Tiina Kähö 18.2.2015
Sitra as a Change Agent
Venture capital and societal trainingFunding R&D Societal change agent
?
Global service
society
Closed
industrial
society
1990
2000
2014
1970
1980
4. 4
Resource-wise and carbon-neutral society
Sitra creates the conditions for a resource-wise,
carbon-neutral society and for business operations
chasing this goal.
Preparing for the impact
of climate change and its
proactive prevention call
for systemic and phased
long-term action.
Concern about the
scarcity of natural
resources and the need to
improve our resource
efficiency is beginning to
guide consumption habits
and production activities.
However, increasing our
resource efficiency will
not be enough – we also
need to find alternative
materials, services and
solutions, and learn to let
go of old practices.
We are moving towards a carbon-neutral society based on the principles of
one planet living. Our focus is on the opportunities presented by this change.
5. We promote business activities that solve ecological, social
and well-being challenges
We help Finnish companies to expand
abroad and further their growth and
competitive strength.
We speed up testing and introduction
of new business and funding models.
We actively participate in developing
the business of the companies in
which we invest in and support their
success.
We invest in growth companies that
promote sustainable well-being.
5Sitra Tiina Kähö 18.2.2015
7. 7
Growth is weak across the world economy
OECD countries
Still recovering from
financial crisis – loss of
fiscal flexibility
Slower productivity growth
Infrastructure renewal
challenge
Income inequality
China
Looking to restructure its
economy and reduce
energy intensity
Excess financial
leverage
Significant pollution
problems
Low-income countries
Too dependent on
commodity
exports/cycle
Capital constraints
Remaining deep
poverty, including lack
of access to energy,
water, health, food
Middle East
Excess dependency
on hydrocarbon
exports
Insufficient private
sector employment
Middle Income countries
Need escape from “middle
income trap”
Two speed economies with
large productivity gaps
India
Significant
infrastructure gap
Regulatory
complexity
New chance to
catch up
Source: New Climate Economy, 2015
Sitra Tiina Kähö 18.2.2015
8. 8Sitra • Tiina Kähö • 18.2.2015 •
Climate Change poses both Threats and Opportunities
to the Global Economy
Sources: World Bank, OECD, IEA World Energy Investment Outlook 2014,
Ministry of Employment and the Economy
OECD: 0.7%-2.5% Global GDP Loss by 2060 – Effects
of Climate Change
World Bank: GDP Growth $1.8-2.6 trillion a Year by
2030 – Climate Change Mitigation
IEA: $48 trillion in Energy Investments over the Period
to 2035$
Ministry of Employment and Economy: Global
Cleantech Market €1600bn€
10. 10
Next steps
The Global Commission recommends 10 transformative actions
Source: NCE. For details please see the NCE Global Action Plan (2014)
1 Integrate climate risk into strategic decisions
Secure a strong international climate agreement
End subsidies for the high-carbon economy
Price carbon to send a clear market signal
Scale-up low-carbon innovation
Reduce the cost of capital for low-carbon investment
Move toward connected and compact cities
End deforestation
Restore degraded lands
Phase out unabated coal fast
2
3
4
5
6
7
8
9
10
Sitra Tiina Kähö 18.2.2015
11. 11
Key drivers of growth and climate performance
RESOURCE
EFFICIENCY
INNOVATION
INFRASTRUCTURE
INVESTMENT
HIGH QUALITY, RESILIENT, INCLUSIVE = BETTER GROWTH
ENERGY
LAND
USE
CITIES
WIDER
ECONOMY
Source: New Climate Economy, 2014 Sitra Tiina Kähö 18.2.2015
12. 12Sitra • Etunimi Sukunimi • 00.00.2014 •
Carbon risk and divestments are stepping up on the
investors’ agenda
HS 18.2.2015
Sitra Tiina Kähö 18.2.2015
13. 13
Carbon risk and divestments are stepping up on the
investors’ agenda
Sitra Tiina Kähö 18.2.2015
14. 14Sitra • Tiina Kähö • 18.2.2015 •
• Carbon Tracker: To reduce the chance of exceeding 2°C warming to 20%, the
global carbon budget for 2000-2050 is 886 GtCO2, of which already 36%
was burned by 2011.
• In order to stay within the carbon budget, up to 80% of current reserves
should never be dug up and burned
Sources: Carbon Tracker Initiative: Unburnable Carbon, The Economist
All currently known fossil fuel
reserves cannot be burned if
we are to limit global warming
to 2 degrees
Carbon Risk: A Carbon Bubble in the Financial Markets?
15. • The share prices of oil, gas and coal companies depend in part on their
reserves, but what if some of those reserves can never be dug up and burned?
15
Sources: Carbon Tracker Initiative: Unburnable Carbon, The Economist,
McKinsey&Carbon Trust
Carbon Risk: A Carbon Bubble in the Financial Markets?
• Carbon Tracker: All currently known fossil fuel reserves cannot be burned if we
are to limit global warming to 2 degrees. In order to stay within the World’s
carbon budget, up to 80% of current reserves should never be dug up
and burned
• If energy consumption continues unfettered, unburnable carbon will be reached
in just 16 years (according to the latest IEA projections of energy-related fossil
fuel CO2 emissions)
Regulation
Financing
Public Opinion
Other external
factors
?
Sitra Tiina Kähö 18.2.2015
16. 16Sitra • Tiina Kähö • 18.2.2015 •
Carbon Risk: A Carbon Bubble in Energy Sector?
• The fossil fuel reserves held by the top 100 listed coal, oil and gas companies
represent potential emissions of 745 GtCO2
• Given only 20% of the total reserves can be used to stay below 2°C, then only
149 GtCO2 can be used unabated
Sources: Carbon Tracker Initiative: Unburnable Carbon, The Economist
17. 17Sitra • Tiina Kähö • 18.2.2015 •
Sources: Nordea
Towards a Low-Carbon World?
…boost transition towards clean energy while investments in
high-emissions projects lose their appeal.
Carbon Price
and Taxes
…in wind, solar and energy efficiency erode the competitiveness
of fossil fuels.
Technological
Development
…and increased attention to climate issues affects the operating
environment of fossil fuel companies.
Consumer
and Investor
Behavior
All this puts pressure on fossil fuels but also creates
opportunities for new business
18. Jouni18
“If a petrochemical
firm can do this,
anybody can ”
CEO Ray Anderson,
2009
Interface carpets; pioneer in low-carbon transformation and resource efficiency
Source: Jouni Keronen, 2014 Sitra Tiina Kähö 18.2.2015
19. 19
Source: Tesla motors website, scdigest.com, autonews.com
Triggering competitive
response
Transforming the auto industry
Tesla market cap: $26bn
~25,000 cars sold in 2013
GM market cap: $54bn
~9.7 million cars sold in 2013
Promoting new
materials
Pioneering batteries
and energy storage
Tesla motors is challenging the status quo in many industries,
and creating huge wealth in the process
Sitra Tiina Kähö 18.2.2015
20. 20
Google is becoming one of the biggest “clean tech” companies
on the planet
Source: Google, Greentech Media Sitra Tiina Kähö 18.2.2015
21. 21
Finland’s performance in different global cleantech and
environmental policy rankings varies from poor to great
Index
The Global
Cleantech
Innovation Index
2014
The Global Green
Economy Index
2014
Environmental
Performance Index
The Climate
Change
Performance Index
2015
EY Renewable
energy country
attractiveness
index (9/2014)
Index
provider
Cleantech Group,
WWF, Tillväxtverket
Dual Citizen LLC Yale University
Germanwatch &
Climate Action
Network Europe
EY
Index
description
Assessment of
countries’ potential
and conditions for
developing
cleantech
innovations.
Assessment of
countries'
performance in Green
Economy.
Country assessment
based on 20 national
environmental
indicators.
Assessment of
countries’ climate
policy and success in
tackling climate
issues.
Assessment of the
attractiveness of
countries’ renewable
energy investment
and deployment
opportunities.
Finland’s
ranking
2./40 8./60 18./178
32./61
(Grade: Poor)
37./40
Top3 –
countries
1. Israel
2. Finland
3. USA
1. Sweden
2. Norway
3. Costa Rica
1. Switzerland
2. Luxembourg
3. Australia
1. Denmark (4.)
2. Sweden (5.)
3. UK (6.)*
1. China
2. USA
3. Germany
Countries
ranked next
to Finland
Sweden (4.),
Denmark (5.),
UK (6.),
Canada (7.),
Switzerland (8.),
Germany (9.)
Switzerland (6.),
Austria (7.),
Iceland (9.),
Spain (10.),
Ireland (11.),
New Zealand (12.)
New Zealand (16.)
Portugal (17.)
Ireland (19.)
Estonia (20.)
Slovakia (21.)
Italy (22.)
Ukraine (30.),
India (31.),
Latvia (33.),
Croatia(34.),
Greece (35.),
Austria (36.)
Philippines (34.),
Saudi Arabia (35.),
Kenya (36.),
Russia (38.),
Indonesia (39.),
Ukraine (40.)
*None of the countries achieved positions one to three.
Sitra Tiina Kähö 18.2.2015
22. 22Sitra • Tiina Kähö • 18.2.2015 •
Finnish Companies have managed to turn Climate
Change into Business Opportunities
Energy Efficiency and
Related Solutions
Energy Efficient Use of
Resources
23. The role of
public risk
capital
• Traditionally most economists argue that the government should focus on the
framework conditions in supporting innovation, and let innovation and
business flourish in the free market
• However, promising or societally important innovations may not appear
tempting to private capital due to substantial risks, capital intensity or the
time horizon from innovation to cash flows – a sort of market failure often seen
with for example radical new medicines or energy sources
• This is where long-term public risk capital can step in, assuming the risks
and uncertainty associated with innovation that would otherwise not find financing
from the private sector
24. 25
Slush
• Slush is a non-profit event organized by a community of entrepreneurs,
investors, students and music festival organizers, supported by
seasoned entrepreneurs and venture capitalists
• In the past three years, Slush has grown from a local, 300-person event
to become one of the leading tech and startup events in the world
• In 2014, Slush brings together 10.000 attendees and more than 2500
companies for the two-day event, which takes place on November 18-
19th in Helsinki
Copyright: Slush
25. 26
NegaWatt
Energy
Efficiency
Fund
• NegaWatt Energy Efficiency Funds utilizes an innovative investment model in financing
investments in the built environment, all with the aim of increasing efficient energy use.
• Business rationale: Investment financed by the fund and savings from these energy
efficiency investments are shared between the investor (fund) and the asset owner for a
period of time. After this the benefits flow to the asset owner.
• Funds financially profitable technological measures which achieve material
improvements in the energy efficiency of across buildings, infrastructure and industry.
• Financing for example geothermal heat systems, extensive lighting modernizations, heat
recovery, solar power and many other energy efficiency solutions.
• A prime example of Sitra’s investment target: potential to contribute to improving the
national economy’s competitiveness and reducing both dependency on imported energy
and carbon dioxide emissions.
26. 27
Cleantech
Invest
• Investment fund investing in companies that do profitable business in generating
clean energy and providing solutions for efficient natural resource use
• Energy production
• Energy storage, quality, transfer and efficiency
• New materials and recycling
• Clean water and air
• Operates between cleantech growth companies and large industrial corporations as
a pathfinder, combining the innovative powers of entrepreneurship with industrial
scalability
• Sitra an early investor, IPO in 2014. Stock listing enables also retail investors to
invest in a portfolio of cleantech ventures through the stock market.
27. 28
AW-Energy
• AW-Energy Ltd is a Finnish company developing the WaveRoller concept to utilize
ocean wave energy
• WaveRoller has passed the proof of concept stage through extensive marine
testing in Peniche, Portugal as well as in Orkney, Scotland.
• The evidence from the marine testing indicates that WaveRoller has the potential
for becoming a significant driver in making wave energy a mainstream energy
source.
• Sitra amongst the first investors; a strong strategic fit to Sitra’s vision
• A good example about the role of public risk capital: capital intensive, long-term
development project with many uncertainties but immense potential
28. Sitra accelerating industrial transformation
towards a carbon-neutral society
• 5-10 leading corporations commit to developing solutions to challenges
posed by climate change
• Large corporations lead the industrial transformation
• Building home markets and ecosystems
• 1-3 national pilot projects
• Policy recommendations
Sitra • Tiina Kähö • 18.2.2015 •
Carbon-neutral
industry
Targeted results
Transformation
has accelerated
the energy transition
of the whole society, and
large companies
lead the way
Increased
competitiveness
secures the success of the
businesses in the future
Pilot projects and areas
add information
and build the home market
Recommendations
support a functioning
business environment
29. 30
Sitra prepares Finnish industry for a carbon neutrality
journey
Awareness
•Background
studies
Understanding
•Discussions on
selected issues
with group of
companies
Acceptance
•Development
projects with
selected
companies
Commitment
•Building blocks for
everyone to use
• Carbon neutrality transformation building blocks are generic
• Sitra facilitates cross company co-operation
• Sitra promotes reference areas and pilot projects
• Sitra wants to reach the Finnish industry and help them in the
transformation
Sitra Tiina Kähö 18.2.2015
30. 31
Building blocks for carbon neutrality transformation
Strategy
Leadership & Culture
Carbon Efficiency
New
Cleantech
Business
Carbon neutrality
Resource wisdom
Business
Society
Sitra • Tiina Kähö • 18.2.2015 •
31. 32
In addition, carbon neutrality should be understood in a
wider context
Strategy
Leadership & Culture
Carbon Efficiency
New
Cleantech
Business
Carbon neutrality
Resource wisdom
Business
Society
Ecosystems
Value chain and carbon hand print
Corporate
citizenship
Sitra • Tiina Kähö • 18.2.2015 •
32. Industry
cases
Generic
topics
33
Building blocks in Carbon neutral industry focus area
Strategy
Study: How carbon
neutrality is
changing the global
business?
Industry workshop
Carbon neutrality
risks
Tools and methods
for climate and
carbon risk analysis
Industry workshop
Building blocks for Carbon neutral industry transformation
Carbon neutrality opportunities
Industry workshop
New cleantech
business and
financing models
review
Industry workshop
Cleantech innovations
review
Next best ecosystem Next best value chain
Next best carbon
hand print
Next best leadership
practises
Next best innovation
practises
Next best business
models
Next best carbon
neutrality LCA
Sitra • Tiina Kähö • 18.2.2015 •
33. Climate Leadership Council
Main projects
• Low carbon roadmap/building block development
for companies
• Supporting the clean tech developments in the
capital area of Finland
• Supporting World Bank Carbon Price initiative
• Development and piloting climate and carbon risk
analysis methods
• CLC utilises the results of Sitra Carbon-neutral
Industry Focus Area: and develops collaboration
with relevant national and international partners
J Keronen, Climate Leadership Council
Sitra • Tiina Kähö • 18.2.2015 •
35. 36Sitra • Tiina Kähö • 18.2.2015 •
”Business and goverment must work together to design
effective policy to support the transition to green economy ”
Lähde: KPMG, Sustainable Insight, 2012.