Global green

EU to spend €2 billion of ETS revenues on modernization of the energy system
EU to spend €2 billion of ETS revenues on modernization of the energy system

During the year, the total volume of investments from the Modernization Fund reached €4.66 billion for 50 projects

Seven EU countries have pledged to close all fossil fuel power plants by 2035
Seven EU countries have pledged to close all fossil fuel power plants by 2035

Countries have committed to decarbonizing their electricity systems 5 years earlier

The UK will introduce its CBAM from 2027
The UK will introduce its CBAM from 2027

British industry representatives are concerned about the introduction of the duty a year after the European CBAM came into effect

Denmark will introduce a green tax on air travel
Denmark will introduce a green tax on air travel

The size of the ecotax will depend on the duration of the flight – $7.3 for domestic trips and $60 for long-distance flights

Global electricity production should triple by 2050
Global electricity production should triple by 2050

Solar and wind generation will account for 3/4 of the total electricity production

Japan has developed a rocket engine that runs on biofuel from cow dung
Japan has developed a rocket engine that runs on biofuel from cow dung

Biogas will help reduce emissions from agriculture, which generates 14% of global greenhouse gas emissions

A new generation of solar panels will be produced in France
A new generation of solar panels will be produced in France

The technology will increase the efficiency of SES from 23% to 30%

Solar power increased to 263 GW in th EU
Solar power increased to 263 GW in th EU

Solar capacity growth expected to decline from 40% to 11% in 2024

EU pledged to spend €22.8 billion on the green transition of other countries at the COP28
EU pledged to spend €22.8 billion on the green transition of other countries at the COP28

€20 billion will be allocated for the development of green energy in Africa

Historic agreement on the abandonment of fossil fuels was signed at COP28
Historic agreement on the abandonment of fossil fuels was signed at COP28

Investors, consumers and national governments will set the pace of phasing out of fossil fuels

COP28 was extended due to disputes over the final agreement
COP28 was extended due to disputes over the final agreement

The draft agreement will not help limit global warming to 1.5°C

Power plant to be built in Spain to convert wind and wave energy into hydrogen
Power plant to be built in Spain to convert wind and wave energy into hydrogen

The grant agreement will be a catalyst for accelerated implementation of the technology.