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Credit Suisse: clean energy will open up investment opportunities for decades

   Release date: 2022-11-07     Hits: 12    Comment: 0    
Note: Energy transformation refers to getting rid of dependence on fossil fuels and turning to clean energy alternatives.Glove
 Energy transformation refers to getting rid of dependence on fossil fuels and turning to clean energy alternatives.
 
Glover said global climate policy has gained momentum over the past 12 months, noting that countries that have set targets to achieve carbon neutrality now account for more than 60% of emissions, up from about 23% a year ago.
 
Take China as an example. China will strictly control the coal consumption from 2021 to 2025, and gradually reduce the coal consumption from 2026 to 2030. China will realize the commitment of peak carbon dioxide emissions by 2030.
 
Biden promised at the climate summit on Thursday that the United States would significantly reduce greenhouse gas emissions. Leaders at the summit said they would take action and called on rich countries to take more responsibility.
 
Biden, who attended the two-day online climate summit at the White House, said in his opening speech: "no country can solve the climate crisis on its own." "All countries, especially the world's largest economies, have to take responsibility," he said
 
This week's climate summit aims to promote global action to reduce emissions in order to implement the Paris climate agreement, which requires countries to make new commitments to strengthen emission reduction measures every five years. The Paris Agreement is not a legally binding implementation mechanism, but mainly depends on the cooperation of the international community. If the major carbon emitters do not take major actions in this decade, they will not be able to achieve the Paris Agreement goal of controlling the global average temperature to no more than 1.5 degrees Celsius higher than the pre industrial level.
 
According to the United Nations, if the temperature rise exceeds the threshold, it may cause a variety of risks, such as damage to some ecosystems and sea level rise, which may submerge some large cities.
 
Biden used the summit to announce a new goal, hoping that by 2030, U.S. emissions will be 50% - 52% lower than 2005 levels.
 
However, Carroll muffett, chief executive of the non-profit Center for international environmental law, believes that the progress of emission reduction is too slow and that these policies usually "rely heavily on unproven and potentially dangerous carbon removal strategies, such as carbon capture".
 
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