Our transition to net-zero is underway \u2014 how can we ensure it is provable, robust, secure and fair?<\/p>\n
via\u00a0The FT<\/a>\u00a0we have<\/p>\n The world\u2019s largest oil traders are rushing to plough billions of dollars into renewable energy projects in the next five years<\/em><\/strong>, as they speed up preparations for a dramatic shift in the world\u2019s energy mix. Marco Dunand, chief executive of Swiss commodity trader Mercuria, said the company was investing $1.5bn into projects in North America with private equity partners, while Torbjorn Tornqvist, chief executive of Gunvor, said he planned to commit 10 per cent of the company\u2019s equity \u2014 hundreds of millions of dollars \u2014 over the next two years. \u201cIf you want to exist in 10 years\u2019 time and don\u2019t want to be in renewables then I think it is going to be tough,\u201d Mr Dunand told the FT Commodities Global Summit.\u00a0<\/em>\u201cWe don\u2019t have a choice\u201d but meet the Paris climate goals<\/em><\/strong>, he said, calling it the world\u2019s \u201cbiggest challenge\u201d<\/em><\/p>\n<\/blockquote>\n via\u00a0Forbes<\/a>\u00a0we have<\/p>\n renewables investments in Germany and France yielded returns of\u00a0<\/em>178.2%\u00a0<\/em><\/strong>over a five year period, compared with\u00a0<\/em>-20.7%\u00a0<\/em><\/strong>for fossil fuel investments<\/em><\/p>\n<\/blockquote>\n Now join up with the global (excluding USA, but now\u00a0including China<\/a>) consensus on the Paris Accord, and the new financial reporting mechanisms (e.g\u00a0TCFD<\/a>) for Central Banks in Europe, and beyond.<\/p>\n And, with\u00a0Icebreaker One<\/a>, we are developing a national programme \u2014\u00a0Open Energy\u00a0<\/a>\u2014 which along with enabling data sharing, has an explicit, embedded target to help deliver the UK\u2019s legally binding mission to be net-zero.<\/p>\n Open Energy is based on the principles of Open Banking, which is still only just getting started\u2026\u00a0this piece highlights that<\/a><\/p>\n the global open banking market generated $7.29 billion in 2018, and is expected to reach\u00a0<\/em>$43.15 billion by 2026<\/em><\/strong>, growing at a\u00a0<\/em>CAGR of 24.4%<\/em><\/strong>\u00a0from 2019 to 2026.<\/em><\/p>\n<\/blockquote>\n\n
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