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The CfD scheme was rolled out as part of the ambitious Energy Act back in 2013 and supports the development of most renewable technologies (although notably, biomass has been excluded from the latest round). It’s also anticipated that we’ll see more UK-centric announcements at COP26 in November. How does it work? Watch this space.
During COP26, Lord Goldsmith admitted the UK had ‘real problems’ with burning wood for electricity. The letter argued that the contract was entered into under the Energy Act 2013 for the project to be treated as generating a form of low carbon energy. If it bid for a Contract for Difference today, MGT Teesside would not qualify.
Companies release carbon dioxide and other greenhouse gases into the atmosphere due to their operations and supplychain. Furthermore, expansion to new sectors, faster cuts of the supply of allowances and other climate policies like EU’s fit-for-55 or COP26 adoption of Article 6 are pushing prices up.
In a recent report , it measured the government financial support to fossil fuel production and consumption between 2013-2022 including subsidies, capital investment by state-owned enterprises and international public finance. To achieve this, supplychains need to be re-engineered with data at their heart.
International cooperation is the goal of the annual Conference of the Parties (COP) and despite being dismissed as a failure, the final agreement at COP26 emphasized the importance of nature and ecosystems, including protecting forests and biodiversity. At COP26 the world took a step back from fossil fuels for the first time.
As demonstrated by Covid’s impact on supplychains , crises often cause global disruptions. The war and the sanctions regime are expected to create global supplychain problems and shortages of food (eg wheat) and raw materials including those required for key technologies (eg semi conductors).
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