Environmental finance is a field within finance that employs market-based environmental policy instruments to improve the ecological impact of investment strategies. The primary objective of environmental finance is to regress the negative impacts of climate change through pricing and trading schemes. The field of environmental finance was established in response to the poor management of economic crises by government bodies globally. Environmental finance aims to reallocate a businesses resources to improve the sustainability of investments whilst also retaining profit margins.
Energy is sustainable if it "meets the needs of the present without compromising the ability of future generations to meet their own needs." Most definitions of sustainable energy include considerations of environmental aspects such as greenhouse gas emissions and social and economic aspects such as energy poverty. Renewable energy sources such as wind, hydroelectric power, solar, and geothermal energy are generally far more sustainable than fossil fuel sources. However, some renewable energy projects, such as the clearing of forests to produce biofuels, can cause severe environmental damage.
The National Energy Technology Laboratory (NETL) is a U.S. national laboratory under the Department of Energy Office of Fossil Energy. NETL focuses on applied research for the clean production and use of domestic energy resources. It performs research and development on the supply, efficiency, and environmental constraints of producing and using fossil energy resources while maintaining affordability.
The energy policy of the United States is determined by federal, state, and local entities. It addresses issues of energy production, distribution, consumption, and modes of use, such as building codes, mileage standards, and commuting policies. Energy policy may be addressed via legislation, regulation, court decisions, public participation, and other techniques.
Energy in the United Kingdom came mostly from fossil fuels in 2021. Total energy consumption in the United Kingdom was 142.0 million tonnes of oil equivalent in 2019. In 2014, the UK had an energy consumption per capita of 2.78 tonnes of oil equivalent compared to a world average of 1.92 tonnes of oil equivalent. Demand for electricity in 2014 was 34.42 GW on average coming from a total electricity generation of 335.0 TWh.
The energy policy of the United Kingdom refers to the United Kingdom's efforts towards reducing energy intensity, reducing energy poverty, and maintaining energy supply reliability. The United Kingdom has had success in this, though energy intensity remains high. There is an ambitious goal to reduce carbon dioxide emissions in future years, but it is unclear whether the programmes in place are sufficient to achieve this objective. Regarding energy self-sufficiency, UK policy does not address this issue, other than to concede historic energy security is currently ceasing to exist.
The Climate Change and Sustainable Energy Act 2006 is an Act of the Parliament of the United Kingdom which aims to boost the number of heat and electricity microgeneration installations in the United Kingdom, so helping to cut carbon emissions and reduce fuel poverty.
A low-carbon economy (LCE) is an economy which absorbs as much greenhouse gas as it emits. Greenhouse gas (GHG) emissions due to human activity are the dominant cause of observed climate change since the mid-20th century. There are many strategies and approaches for moving to a low-carbon economy, such as encouraging renewable energy transition, efficient energy use, energy conservation, electrification of transportation, carbon capture and storage, climate-smart agriculture. An example are zero-carbon cities.
The Climate Change Committee (CCC), originally named the Committee on Climate Change, is an independent non-departmental public body, formed under the Climate Change Act (2008) to advise the United Kingdom and devolved Governments and Parliaments on tackling and preparing for climate change. The Committee provides advice on setting carbon budgets, and reports regularly to the Parliaments and Assemblies on the progress made in reducing greenhouse gas emissions. Notably, in 2019 the CCC recommended the adoption of a target of net zero greenhouse gas emissions by the United Kingdom by 2050. On 27 June 2019 the British Parliament amended the Climate Change Act (2008) to include a commitment to net zero emissions by 2050. The CCC also advises and comments on the UK's progress on climate change adaptation through updates to Parliament.
The United States produced 5.2 billion metric tons of carbon dioxide equivalent greenhouse gas (GHG) emissions in 2020, the second largest in the world after greenhouse gas emissions by China and among the countries with the highest greenhouse gas emissions per person. In 2019 China is estimated to have emitted 27% of world GHG, followed by the United States with 11%, then India with 6.6%. In total the United States has emitted a quarter of world GHG, more than any other country. Annual emissions are over 15 tons per person and, amongst the top eight emitters, is the highest country by greenhouse gas emissions per person. However, the IEA estimates that the richest decile in the US emits over 55 tonnes of CO2 per capita each year. Because coal-fired power stations are gradually shutting down, in the 2010s emissions from electricity generation fell to second place behind transportation which is now the largest single source. In 2020, 27% of the GHG emissions of the United States were from transportation, 25% from electricity, 24% from industry, 13% from commercial and residential buildings and 11% from agriculture. In 2021, the electric power sector was the second largest source of U.S. greenhouse gas emissions, accounting for 25% of the U.S. total. These greenhouse gas emissions are contributing to climate change in the United States, as well as worldwide.
The Department of Energy and Climate Change (DECC) was a department of the Government of the United Kingdom created on 3 October 2008, by Prime Minister Gordon Brown to take over some of the functions related to energy of the Department for Business, Enterprise and Regulatory Reform, and those relating to climate change of the Department for Environment, Food and Rural Affairs.
Greenhouse gas emissions by Australia totalled 533 million tonnes CO2-equivalent based on greenhouse gas national inventory report data for 2019; representing per capita CO2e emissions of 21 tons, three times the global average. Coal was responsible for 30% of emissions. The national Greenhouse Gas Inventory estimates for the year to March 2021 were 494.2 million tonnes, which is 27.8 million tonnes, or 5.3%, lower than the previous year. It is 20.8% lower than in 2005. According to the government, the result reflects the decrease in transport emissions due to COVID-19 pandemic restrictions, reduced fugitive emissions, and reductions in emissions from electricity; however, there were increased greenhouse gas emissions from the land and agriculture sectors.
The energy policy of the Obama administration was defined by an "all-of-the-above" approach which offered federal support for renewable energy deployment, increased domestic oil and gas extraction, and export of crude oil and natural gas. His presidency's first term was shaped by the failure of his signature climate legislation, the American Clean Energy and Security Act, to pass, and then climate and energy disasters including the Deepwater Horizon oil spill in 2010 and then Hurricane Sandy, which took place during the 2012 election. In his second term, Obama lifted the ban on crude oil exports and approved liquified natural gas exports; his planned regulatory approach to reducing greenhouse pollution in the electricity sector, the Clean Power Plan, was blocked by the U.S. Supreme Court.
In 2021, net greenhouse gas (GHG) emissions in the United Kingdom (UK) were 427 million tonnes (Mt) carbon dioxide equivalent, 80% of which was carbon dioxide itself. Emissions increased by 5% in 2021 with the easing of COVID-19 restrictions, primarily due to the extra road transport. The UK has over time emitted about 3% of the world total human caused CO2, with a current rate under 1%, although the population is less than 1%.
An energy transition is a significant structural change in an energy system regarding supply and consumption. Currently, a transition to sustainable energy is underway to limit climate change. It is also called renewable energy transition. The current transition is driven by a recognition that global greenhouse-gas emissions must be drastically reduced. This process involves phasing-down fossil fuels and re-developing whole systems to operate on low carbon electricity. A previous energy transition took place during the industrial revolution and involved an energy transition from wood and other biomass to coal, followed by oil and most recently natural gas.
The position of Minister of State at the Department of Energy and Climate Change was a middle-ranking ministerial position in the Government of the United Kingdom. Holders of this office deputised for the Secretary of State for Energy and Climate Change. When the DECC was dissolved in 2016, this office fell out of use.
The North Sea Transition Authority (NSTA), known as the Oil and Gas Authority (OGA) until March 2022, is a private company limited by shares wholly owned by the Secretary of State for Energy Security and Net Zero. It is responsible for maximising the economic recovery of oil from the North Sea. It is empowered to license and regulate activity in relation to oil and gas in the United Kingdom, including oil and gas exploration, carbon capture and storage, and offshore gas storage.
The Department for Business, Energy, and Industrial Strategy (BEIS) was a ministerial department of the United Kingdom Government, from July 2016 to February 2023.
The Whitetail Clean Energy is a proposed power station in Wilton, Redcar and Cleveland, England. The generating process of the plant is listed as a "clean energy source", using natural gas and oxygen in a Allam-Fetvedt Cycle to create power. The excess carbon dioxide not used by the co-generation process is intended to be captured and stored under the North Sea, making the plant the first in the United Kingdom to utilise this type of technology, and also using carbon sequestration under the North Sea. The plant is also included in the Net Zero Teesside project. The power plant is proposed to start generating in 2025.
The Department for Energy Security and Net Zero (DESNZ) is a ministerial department of the Government of the United Kingdom. It was established on 7 February 2023 by a cabinet reshuffle under the Rishi Sunak premiership. The new department took on the energy policy responsibilities of the former Department for Business, Energy, and Industrial Strategy (BEIS).
