News direct from the White House!
News direct from the White House!
Each month we’re drawing together a few stories and articles that we think will be of interest to our members.
News direct from the White House!
This fact sheet, published 2 weeks ago by the Whitehouse, states that President Biden and G7 leaders formally launch the partnership for global infrastructure and investment.
The partnership intends to mobilise hundreds of billions of dollars and deliver quality, sustainable infrastructure that makes a difference in people’s lives worldwide. A brave and laudable ambition!
These 4 charts show the state of renewable energy in 2022
Nothing it seems can hold back the advance of renewable energy. A record amount of renewable capacity was installed in 2021, despite post-pandemic delays and rising raw material costs.
Now the International Energy Agency (IEA) expects that record to be beaten again in 2022, at least in part as nations that have relied on fossil fuels from Russia, push ahead with new renewable capacity in response to the war in Ukraine.
UK Government plans for funding new nuclear projects, including Sizewell C
In June the UK government published documents which show significant progress towards implementing a new funding model which will give nuclear projects the financial support they need and attract private investment.
The new Regulated Asset Base (RAB) model will see projects receive a regulated payment from electricity suppliers, helping these large infrastructure projects come to fruition. The Sizewell C project in Suffolk could be the first nuclear project to use this model, subject to the outcome of current negotiations.
Africa: A ballooning Export Credit Agency debt space
Export Credit Agency support is integral to getting several large-scale carbon-intensive projects across the financial line in sub-Saharan Africa in 2022, with social infra schemes also high on the financing agenda of agencies active on the continent.
This article explains how these instruments are helping unlock project finance investment in the continent.
Germany, Italy push G7 into watering down pledge to end overseas gas finance
With the continued invasion of Ukraine by Russia, G7 leaders pledged to end overseas public finance for fossil fuels but made exceptions for temporary gas investments deemed “necessary” to address the current energy crisis and allow the reliance and investment in Russian fossil fuels to be eliminated.