Highlights of COP26 announcements (Nov 1-2)

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November 2 (Renewables Now) - Renewables Now is highlighting some of the sustainability and climate commitments made during the 2021 UN Climate Change Conference (COP26) in Glasgow. We start our round-up with announcements from Danish investor Copenhagen Infrastructure Partners (CIP), UK’s CDC Group, Atlantica Sustainable Infrastructure, vaccine maker Moderna and the freshly launched Global Energy Alliance for People and Planet.

-- Danish fund manager CIP said it will deploy EUR 100 billion into green energy investments by 2030.

“About one-third [of CIP’s pipeline] will be offshore wind and the remaining two-thirds will include onshore wind and solar PV, as well as other technologies such as Power-to-X, energy storage, energy islands, power transmission, electrification and advanced biofuels,” CIP said.

More details here: https://cipartners.dk/2021/11/01/cip-aims-for-eur-100bn-in-renewable-energy-investments-by-2030/

-- UK development finance institution CDC Group plc plans to invest more than GBP 3 billion over the next five years to support initiatives in sectors such as renewable power, infrastructure, agriculture and forestry in emerging economies in Africa and Asia.

More details on CDC Group’s website here: https://www.cdcgroup.com/en/news-insight/news/cdc-group-to-invest-over-3-billion-over-the-next-five-years-to-combat-the-climate-emergency/?fl=true

-- The Global Energy Alliance for People and Planet (GEAPP) was launched on Tuesday at COP26. The alliance is backed by anchor partners the Rockefeller Foundation, IKEA Foundation and Bezos Earth Fund, with several multilateral development banks serving as investment partners, reads GEAPP’s press release.

GEAPP has set out to unlock USD 100 billion in public and private financing to achieve three goals: reach one billion people with reliable, renewable power, avoid and avert 4 billion tonnes of carbon emissions, and create, enable or improve over 150 million jobs.

More information on GEAPP’s mission is available at their website: https://www.globalenergyalliance.org/

-- The Africa Green Finance Coalition (AFGC) was presented at COP26 on Tuesday. The African-led initiative is aimed at bringing African countries together to pool resources, share learning and create a pathway for increased flows of green investment capital to the continent, said Mark Napier, CEO of UK government-funded non-profit FSD Africa.

Napier’s comment on the need to create the AFGC can be read here: https://racetozero.unfccc.int/africa-green-finance-coalition-seizing-the-opportunity-that-green-investment-provides/

-- Biotechnology company and COVID-19 vaccine maker Moderna Inc (NASDAQ:MRNA) said it would work to bring its global carbon emissions to net zero by 2030. Moderna is committing to directly use renewable energy in US facilities starting in 2021, invest in energy efficiency and, among others, plans to work with its suppliers to help them move to net-zero carbon.

More in Moderna’s press release here: https://bwnews.pr/31dd2Dx

-- Atlantica Sustainable Infrastructure plc (NASDAQ:AY) on Monday made a brief announcement that its targets to lower greenhouse gas emissions had been approved by the Science Based Targets initiative (SBTi).

More information in Atlantica's press release here: https://www.globenewswire.com/news-release/2021/11/01/2324681/33705/en/Atlantica-Sets-A-Science-Based-GHG-Reduction-Target.html

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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