1st of 2 posts related to this week’s update
The United Arab Emirates is considering creating a multibillion-dollar fund to spur clean energy investments across the world that it plans to unveil at this year’s U.N. climate talks in Dubai, according to people familiar with the plan.
The fund could amount to tens of billions of dollars, with a sizable slice of the money coming from the UAE’s sovereign wealth reserves, according to seven people with knowledge of the discussions. A G-7 government official said envoys from the oil-rich Mideast nation had privately mentioned the idea of a fund of at least $25 billion.
“It’s an eye-popping figure,” one of the people familiar with the concept said.
Creation of the fund would be one of the largest ever state-sponsored financial efforts to help countries fight climate change. And it comes as the UAE and Sultan al-Jaber, the CEO of the Abu Dhabi National Oil Co. who is leading the climate talks, have drawn criticism from environmental advocates and some U.S. and European lawmakers for hosting the international gathering despite being one of the world’s largest contributors of greenhouse gases.
The summit, known as COP28, starts on Nov. 30.
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The dam's almost 5,000 solar panels enough energy each year to supply around 700 houses.
A snaking wall of solar panels has been attached to Switzerland's longest dam. The solar dam is helping the landlocked nation maximise its green energy production in the winter months.
The Lake Muttsee dam, in the central Swiss canton of Glarus, is over 7,800 feet (2,400 metres) above sea level and is surrounded by snow-capped peaks - something that the team behind the AlpinSolar project says is a key benefit.
Schranz says Switzerland's mountains are less affected by fog in colder months, meaning the panels see more sun than they would at lower altitudes.
"The reflection from the snow also helps," Schranz says, adding that "solar panels like the cold and have a higher yield in cooler temperatures."
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Mack Trucks’ Roanoke Valley Operations (RVO) in Virginia, where all of the company’s medium-duty vehicles are assembled, is now certified and participating in Appalachian Power Company’s 100% Renewable Wind-Water-Sunlight (WWS) Service.
This means that RVO purchases 100% of its renewable energy with zero CO2 emissions from Appalachian Power, meeting the needs of Mack’s and RVO’s commitment to sustainability and environmental stewardship.
“This certification is very important to Mack Trucks and RVO specifically because it allows us to act on our public commitment to sustainability,” said Antonio Servidoni, vice president at RVO. “Mack not only offers electric vehicles, such as the Mack MD Electric that will be assembled here at RVO later this year, but also it is committed to working toward a sustainable future in our facilities.”
Appalachian Power’s WWS program allows customers the ability to consume renewable power around the clock with 100% of the energy generated by the company’s renewable power generators. The combination of wind, hydroelectric power and solar means that a customer’s load is being met with renewable resources anytime – day or night. Appalachian Power has 338 megawatts (MW) of renewable resources available to its Virginia customers through the WWS program, which is enough to power 75,000 homes.
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Ecuadorians have voted in a historic referendum to halt the development of all new oilwells in the Yasuní national park in the Amazon, one of the most biodiverse regions on the planet.
Voters opted to safeguard the unique biosphere by a margin of nearly 20% with more than 90% of the ballot counted – with more than 58% in favour and 41% against, according to Ecuador’s National Electoral Comission. Voting took place in the first round of presidential elections on Sunday.
The move will keep about 726m barrels of oil underground in the Yasuní national park, which is also home to the Tagaeri and Taromenane people, two of the world’s last “uncontacted” Indigenous communities living in voluntary isolation.
At a time when the climate crisis is intensifying around the world and the Amazon rainforest is fast approaching an irreversible tipping point, Ecuador has become one of the first countries in the world to set limits on resource extraction through a democratic vote.
In a second referendum, citizens in Quito also voted to block gold mining in the Chocó Andino, a sensitive highland biosphere near the capital city, by an even larger margin of about 68% to 31%.