Europe at a clean energy crossroads
When Winston Churchill said of the Balkans that they “produce more history than they can consume”, he could have been speaking of the whole of Europe. The world in 2016 is facing perilous times, and no region other than the Middle East looks more threatened than Europe – as the events unfolding in Brussels as I write this so tragically demonstrate.
The fiscal crisis, economic slowdown and attendant destruction of Southern Europe’s economies; conflict in the Middle East; uncontrollable floods of refugees and migrants; Islamist terrorism; the adventurism of Vladimir Putin in Crimea and Syria – each have each placed enormous strain on the EU’s governance, and so far its responses have been found wanting, as evidenced by the surging popularity of nationalist movements. [Read More]
NBAD Financing the Future of Energy Report 2016 [Watch Video]
NBAD’s ‘Financing the Future of Energy’ Report 2016 is now available and states that the Middle East is in a prime position to grow its renewable energy sector.
The past year has seen a number of factors converging to promote renewable energy and financial institutions have an important role to play. The report states that low oil prices and the cost competitiveness of renewables is encouraging governments to turn to it as a hedge against fossil fuel price volatility. This, combined with governments’ long-term ambitions for greater energy independence by decarbonising their economies, will be the key drivers for the transition to a clean energy world.
The report reasserts that even in the current economic climate, global energy demand is outstripping today’s supply. Closing this gap would require US$48 trillion of investment over the next 20 years, with renewables playing a critical role in the energy mix of the future.
The full Financing the Future of Energy’ Report 2016 is available at www.nbad.com/futureofenergy
To watch a 2-minute video with Nathan Weatherstone, NBAD’s Head of Sustainable business, click here: https://www.youtube.com/watch?v=HwoTliSAu4A
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