ESG Insider: Clean energy investment set to outpace spending on fossil fuels in 2023 – report
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Investments in clean energy are set to outpace spending on fossil fuels in 2023, boosted by more competitive pricing and the global energy crisis, the International Energy Agency said in a report on May 25.
The IEA forecast that global energy investments would reach $2.8 trillion in 2023, with the majority — $1.7 trillion — going toward renewables, electric vehicles, nuclear power, grids, storage, low-emissions fuels, efficiency improvements and heat pumps. The remainder is being spent on coal, gas and oil, the report said. In a sign of how the global energy mix is evolving, investments in solar energy are expected to overtake those in oil production for the first time, the IEA said.
In this week's newsletter, we look at how women are making modest gains in leadership positions in the male-dominated metals and mining sector and explore Japan’s plans to boost critical minerals security. We also examine the first funding auction for hydrogen developers in the EU. And our monthly regulatory tracker covers explores Australia’s plans to issue green bonds and proposals by Chile’s president to nationalize the country’s lithium industry, among other updates.
This week’s episode of the ESG Insider podcast brings you interviews with participants at the S&P Global Sustainable1 Summit that took place in Singapore on May 16.
Chart of the Week
Women in metals, mining make modest gains in leadership roles?
Women are taking on more leadership roles in the long male-dominated metals and mining sector, but the industry still has progress to make, a data analysis from S&P Global Commodity Insights shows.?
INTERVIEW: Japan to boost critical minerals security with G7, 'like-minded countries'
Japan will boost critical mineral resources development together with the G7 and other "like-minded countries" as part of its efforts to bolster its economic security, a top government official told S&P Global Commodity Insights.?
EU weighs design of 'market maker' hydrogen funding auctions
European hydrogen developers are gearing up for the region's first-ever funding auction later in 2023, in a process that is billed as a learning curve and a small step toward achieving ambitious production targets by the end of the decade.?
ESG Regulatory Tracker April 2023 – EU law on aviation emission reductions; Australia’s green bond plans; Chile’s lithium nationalization plans
In this month's update, we explore a new EU law designed at reducing emissions in the aviation sector, Australia’s plans to issue green bonds and proposals by Chile’s president to nationalize the country’s lithium industry.
ESG Insider Podcast
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In this week’s episode of ESG Insider, we bring you coverage of S&P Global Sustainable1’s summit in Singapore. We speak to conference participants about the challenges Asia faces on the path to net zero. Helge Muenkel, Group Chief Sustainability Officer at Singapore-based DBS Bank tells us how lenders in Asia are tackling the transition. We also hear the real estate perspective from Esther An, Chief Sustainability Officer at City Developments Limited, a global real estate company headquartered in Singapore.?
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