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The report’s authors appear to demonstrate how this resistance will escalate as new leases are sold and crude oil projects are developed, threatening the long-term viability of projects and investments.
These countries need affordable, reliable and clean energy to support their socio-economic development and to mitigate climate change. Commercial financial institutions worldwide continue to support coal power plant development indirectly, despite having implemented policies to exclude direct financing of new coal-fired generation assets.
Investing in fuel flexibility is the most financially viable way to avoid the risk of strandedassets, concludes the document. Wärtsilä says it has been developing multiple fuel options. But action must be swift – we have the lifecycle of just a single vessel to get this right.”
With more than 25 years of experience in sustainable development, energy and climate, Mendiluce was named one of Time magazines 100 most influential people on climate in 2023. Especially in developed countries. Countries that have fossil fuel assets, they need to understand that the demand is going to decrease.
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