Thursday, May 23, 2013

Dash for gas or low carbon investment?

The UK Committee for Climate Change released a report today on electricity market reform. It specifically highlights that in the long term, low-carbon energy will cost less than gas. This will be better for consumers and in addressing the impacts of climate change. The report is available here.

In a previous post on Sustainable Seas, we highlighted research on the 'carbon bubble' - if we are to stay below the 2C warming limit, the global economy has a budget of than 565 gigatons of CO2 - but fossil fuel companies have reserves of fossil fuels of almost 3000 gigatons. These reserves lose considerable value if they stay in the ground - and potentially unleashing a financial crisis.  It highlights, as does this report, that we urgently need to make the case, and keep building the case, of the merits of a low carbon economy.

Further comment soon once I digest the contents!

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