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      IAEA worried Iran may have undeclared nuclear material

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      Dialogue, de-escalation in E.Med benefit everyone: NATO

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      Turkey’s giant gas find worth $80 billion: IEA Head

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      EU approves €550M Danish aid to support biomass plants

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      Turkey: Economic confidence stands at 95.8 in February

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      Global EV sales see record rise in 2020 led by Europe

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      UN: US on pace to hit Paris climate goals despite Trump

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      Turkey's LPG imports down over 19.02% in June 2019

      Equinor inks agreement for LPG storage in Malaysia

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      Turkey eyes new record in gold production by 2021

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      Turkey's gas imports from Iran see sharp fall in 2020

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      US led global defense spending in 2020: Report

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      E3 urges Iran to cooperate with IAEA

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      IAEA worried Iran may have undeclared nuclear material

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      Tehran warns against anti-Iran resolution at IAEA

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      Qatar awards EPC contract for North Field LNG to Samsung

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      OPEC+ meeting highlights Saudi's leadership

      OPEC+ meeting highlights Saudi's leadership

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      OPEC+ agrees to extend output cuts for another month

      World needs 2 billion tons in emission cuts annually

      World needs 2 billion tons in emission cuts annually

      OPEC foresees recovery of oil market in 2021

      OPEC foresees recovery of oil market in 2021

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      Turkey, Turkish Cyprus sign financial cooperation pact

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      'Turkey should follow EU's path towards green economy'

      Qatar awards EPC contract for North Field LNG to Samsung

      Qatar awards EPC contract for North Field LNG to Samsung

      Norway's sovereign fund invests $812 million in Turkey

      Norway's sovereign fund invests $812 million in Turkey

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      Spot market electricity prices for Saturday, March 6

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      Japan should act quickly to achieve net-zero goals: IEA

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      US oil inventories mark largest weekly rise since 1982

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Global investors call on G7 to scale up climate action

-Over 280 institutional investors urge world governments to achieve goals of Paris Agreement, back up low carbon transition

home > World, General 04.06.2018 13:58 Hale Türkeş

Global investors call on G7 to scale up climate action

A total of 288 global investors, with $26 trillion in assets under management, urged governments on Monday to step up their ambition and action to achieve the goals of the Paris Agreement, support investment in the low carbon transition, and improve climate-related financial disclosures.

"The global shift to clean energy is underway, but much more needs to be done by governments to accelerate the low carbon transition and to improve the resilience of our economy, society and the financial system to climate risks," investors wrote in a joint statement four days ahead of the upcoming 2018 G7 Summit in Quebec, Canada.

The statement, known as the 2018 Global Investor Statement to Governments on Climate Change, was delivered to the UN Framework Convention on Climate Change (UNFCCC) and G7 government leaders.

"We are concerned that the implementation of the Paris Agreement is currently falling short of the agreed goal of 'holding the increase in the global average temperature to well below 2-degrees Celsius above pre-industrial levels," the signatories said.

In the statement, investors noted that they continued to make significant investments into the low carbon transition across a range of asset classes, and increasingly incorporated climate change scenarios and climate risk management strategies into their investment processes, while engaging with the largest greenhouse gas emitters.

Investors called on world leaders to do their part "with a strong sense of urgency," asking world governments to achieve the goals of the Paris Agreement, accelerate private sector investment into the low carbon transition, and commit to improve climate-related financial reporting.

At an investors' meeting on Monday in London, Patricia Espinosa, the executive secretary of the UNFCCC, encouraged investors around the world to sign the statement.

"It’s extremely encouraging to see so many institutional investors coming together around such a powerful message to governments and the international community," Espinosa said.

"Leveraging private finance to fund the transition to a low-emissions and low-carbon future in order to meet the goals of the Paris Agreement is a necessity—one that public administrations cannot afford to do on their own," she added.

The statement has been developed by Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, Institutional Investors Group on Climate Change, Principles for Responsible Investment and UNEP Finance Initiative.

Signatories included Allianz Global Investors, Aviva Investors, BNP Paribas Asset Management, and HSBC Global Asset Management.

"Every year more investors sign this important statement calling for governments to increase their level of ambition and to set meaningful targets nationally and internationally," said Eric Usher, head of the UNEP Finance Initiative.

"For us to achieve a sustainable and low carbon financial sector, we need policy and regulatory frameworks that incentivize for more green investments, but also that help us mainstream sustainability factors into finance institutions' core decision making.

"We congratulate this renewed momentum from the investment community and look forward to continuing to support governments as they take action," he said.

The statement comes on the same day Britain's Overseas Development Institute issued a report saying the world’s major industrialized countries, known as the G7, provide at least $100 billion a year supporting fossil fuels despite repeated pledges to phase out related subsidies since 2009.

By Hale Turkes

Anadolu Agency

energy@aa.com.tr




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'Turkey cannot be excluded from Eastern Mediterranean'

- Turkey, Greece have no choice but to have friendly relations, say former Greek diplomat
02.03.2021 International Relations , Turkey

Spot market electricity prices for Sunday, Feb. 28

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 139.83 million Turkish liras
27.02.2021 Natural Gas , Finance , Turkey , General

Spot market natural gas prices for Friday, Feb. 26

- 1,000 cubic meters of natural gas on spot market costs 1,247 Turkish liras
28.02.2021 Natural Gas , Finance , Turkey , General

Norway's sovereign fund invests $812 million in Turkey

- As at the end of December 2020, fund had over $800B in investments in 34 different Turkish firms, including four in energy
28.02.2021 Finance , Energy Projects , Turkey , Europe , General

Turkey's daily power consumption down 2.4% on Feb. 26

- Electricity exports amount to 14,385 megawatt-hours, while imports total 703 megawatt-hours
28.02.2021 Electricity , Finance , Turkey , General

US oil rig count rises by 4 for week ending Feb. 26

- This marks drop of 369 in number of US oil rigs compared to one year ago
28.02.2021 Oil , Finance , Americas , General

EU wants to play positive role in Cyprus settlement

- Bloc committed to supporting UN-led talks as observer
28.02.2021 Finance , Energy Diplomacy , Europe , General

Oil prices up over 3% for week ending Feb. 26

- Rising value of US dollar makes oil more expensive for buyers, limiting further oil price increases
27.02.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Spot market natural gas prices for Thursday, Feb. 25

- 1,000 cubic meters of natural gas on spot market costs 1,242 Turkish liras
27.02.2021 Natural Gas , Turkey

Spot market electricity prices for Saturday, Feb. 27

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 155.75 million Turkish liras
27.02.2021 Electricity , Turkey

Turkey's energy import bill down 35.8% in January 2021

- Last month, overall energy imports fall due to rise in country's domestic and renewable energy production
26.02.2021 Natural Gas , Oil , Projects , Stock Market , Energy Projects , Turkey

Turkey's daily power consumption up 0.45% on Feb. 25

- Electricity exports amount to 7,296 megawatt-hours, while imports total 1,004 megawatt-hours
26.02.2021 Electricity , Turkey

Turkey's gas imports from Iran see sharp fall in 2020

- Country-based gas imports from Iran shows biggest fall while biggest growth seen in gas imports from Qatar and US
26.02.2021 Natural Gas , Downstream , Energy Diplomacy , Energy Security , International Organization , Turkey , Middle East-Africa

FDA okays storing Pfizer vaccines in standard freezers

- Move will allow vials to be transported and stored under more flexible conditions, says FDA official
26.02.2021 World , Americas

Biden signs order to bolster critical supply chains

- 'We shouldn't have to rely on a foreign country, especially one that doesn't share our interests or values,' president says
26.02.2021 Projects , Stock Market , Energy Projects , Americas

Turkey to unveil new reform policy in March: Finance chief

- Work on economic reform with macroeconomic stability policies and structural policies has concluded, says finance minister
26.02.2021 World , Turkey

Turkey: Economic confidence stands at 95.8 in February

- Confidence index at 95.8 in February, down 0.5% from previous month, official data shows
26.02.2021 Projects , Stock Market , Energy Projects , Turkey

US GDP revised slightly up to 4.1% in Q4

- Initial jobless claims decline to lowest level in 3 months
26.02.2021 World , Americas

US: Yellen urges G20 to extend fiscal action amid COVID

- "If there was ever a time to go big, this is the moment," Treasury head says
26.02.2021 World , Americas

US led global defense spending in 2020: Report

- US, Chinese defense budgets accounted for almost two-thirds of increase in 2020, according to military spending report
26.02.2021 Energy Security , Energy Projects , Americas

EU sets 3-month target for introducing vaccine certificates

- EU heads of state, governments begin 2-day virtual summit to discuss vaccinations and travel restrictions
26.02.2021 World , Europe

Oil prices fall as dollar appreciates

- Recent high oil prices encourage greater production to exert downward price pressure
26.02.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Global LNG trade steady in '20, demand to double by '40

- Natural gas has important role to play in move towards net-zero emissions that requires cleaner energy solutions: Shell
26.02.2021 Lng/Lpg , Europe , General

NGOs petition Turkey to ratify Paris Climate Agreement

- Although Turkey is among first signatories of Paris Agreement, it has not yet ratified it
26.02.2021 Turkey

Europe needs to build more wind farms for climate goals

- WindEurope expects Europe to build 105 GW of new wind farms over next 5 years, over 70% of which will be onshore
26.02.2021 Renewable , Wind , Geothermal/Biomass , Europe

ExxonMobil to sell over $1bln. in UK offshore assets

- Transaction expected to close by mid 2021
25.02.2021 News from companies , World , Americas

IAEA calls for coop. with Japan on wastewater disposal

- Japanese government has yet to decide on what method to adopt for disposal of radioactive wastewater
25.02.2021 Nuclear , Asia

Turkey's oil imports down 22.3% in December 2020

- Output of oil refinery products decreases by 0.7% to 2.83 million tonnes in December 2020
26.02.2021 Oil , Turkey

Turkey's LPG imports down 2.6% in December 2020

- LPG production decreases to 77,922 tonnes with year-on-year drop of 5.2%, according to Turkey's energy watchdog
25.02.2021 Lng/Lpg , Turkey

US crude oil inventories rise for week ending Feb. 19

- Commercial crude oil stocks increase by 1.3 million barrels, against market expectation of 5.3 million-barrel draw
25.02.2021 Oil , Americas

Are recent bullish oil price predictions realistic?

- Goldman Sachs, Morgan Stanley, Bank of America predict oil prices will hit up to $75 a barrel in 2021
26.02.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Oil prices up over Fed’s lower interest rates

- Price rises come despite 1.3 million-barrel build in US crude inventories
25.02.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Turkey to spend $9.3B for power distribution up to 2025

- Energy minister says planned investment includes $1.5 million for scheduled maintenance between 2021 and 2025
25.02.2021 Electricity , Turkey

Spot market electricity prices for Thursday, Feb. 25

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 162.6 million Turkish liras
24.02.2021 Electricity , Turkey

Spot market natural gas prices for Tuesday, Feb. 23

- 1,000 cubic meters of natural gas on spot market costs 1,220 Turkish liras
24.02.2021 Natural Gas , Turkey

Texas cold snap uncovers obsolete energy infrastructure

-Energy infrastructure is outdated and underinvested and unfit for country the size of US: Vienna Energy Research Group Chair
25.02.2021 Electricity , Natural Gas , Oil , Renewable , Americas

Turkey's licensed power generation up 4.3% in Dec. 2020

- Installed electricity capacity increases 4.8% in December 2020 compared to same month of 2019
25.02.2021 Electricity , Turkey

Oil down as Texas refineries curb demand, US stocks rise

- US crude oil inventories are forecast to rise by over 1.03 million barrels, API figures show
25.02.2021 Oil , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

Turkey's daily power consumption up 0.89% on Feb. 23

- Electricity exports amount to 8,308 megawatt-hours, while imports total 2,326 megawatt-hours
24.02.2021 Electricity , Turkey

Turkey's gas imports up 15.6% in December 2020

- Total natural gas consumption in December shows 16.6% year-over-year growth
25.02.2021 Natural Gas , Turkey

E3 urges Iran to cooperate with IAEA

- Germany, Britain and France urge Tehran to stop and reverse all measures that reduce transparency
24.02.2021 Nuclear , Energy Security , International Relations , Middle East-Africa

Climate action in Mediterranean needs local commitment

- Strategy to improve human health, greens economies, yet still drive competition needs decentralized approach
24.02.2021 International Organization , World

'Ankara ready to do its part to bring Turkmen gas to Europe'

- Turkey welcomes agreement reached between Turkmenistan, Azerbaijan in Caspian Sea, says Turkish foreign minister
24.02.2021 Natural Gas , Energy Diplomacy , Turkey , Europe , Eurasia , Asia , General

Spot market electricity prices for Wednesday, Feb. 24

- Energy Exchange Istanbul (EXIST) data shows electricity market trade volume amounts to 171.3 million Turkish liras
23.02.2021 Electricity , Turkey , General

Spot market natural gas prices for Monday, Feb. 22

- 1,000 cubic meters of natural gas on spot market costs 1,212 Turkish liras
23.02.2021 Natural Gas , Turkey , General

Oil prices up over slow output return in Texas

- Hopes for yet-to-be-approved US stimulus package also boosts oil prices
24.02.2021 Oil , World

Turkey aims to complete 27.5% of Akkuyu NPP by year-end

- Progress of 56.25% is expected by 2023 when first reactor will be commissioned
24.02.2021 Nuclear , Turkey
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