What you need to know

And if ‘petrostates’ become simply ‘states’?

Why this matters? Clean energy means not shipping cash to places that really like cash. Reduced fossil fuel sales means 40 countries might lose 40-50% government revenue (even in moderate scenarios).
Your challenge? Serious geopolitical risks. Hard work needed to become well-rounded economies. Come on, Venezuela, Sudan, Congo, Nigeria, etc… you can do it…
Read more: Carbon Tracker’s updated “Petrostates of Decline” report

What did the planet ever do for us? Well, UK values nature @ £45B/year

Why this matters? We used to see it as “Man vs Nature: the Road to Victory” (The Simpsons). Now, we are a little more conscious of our dependency on our little rock flying through space.
Your challenge? So - you’re using nature. Are you putting back what you take out? Or if not, what might it cost, if you’re sent a bill?
Read more: Office for National Statistics (full doc), Edie (report)

Can you just COP off, please

Why this matters? Ug. So much COP. Every story PR, regurgitated by journalists.
Why does it annoy me so much? A theatre of promises: grand gestures, almost always without practical plans. 28 years, and carbon emissions just go up.
Example? The “Loss and Damage Fund” announced yesterday: £400m - maybe 1/1,000 of what’s needed.
Read more: Might as well read Viz (‘We can only hope when the end comes it’s quick’)

One thing to worry about

India is going nuts for coal 🏭⛏️🇮🇳

• Three-quarters of power production currently from coal (Bloomberg)

• Power needs rising faster than rail can deliver from coal mines (Reuters)

• Tripling underground coal mining (FT.com £)

• By 2030, 80GW new coal power plant - equivalent to 2x UK (Mint)

Can you say this? “How dare you use your own resources to bring a billion people out of desperate poverty.”

A hard one.

One thing to be optimistic about

280 million electric bikes/scooters/tuk-tuks are cutting oil demand by 1m barrels daily. That’s 1% of the global oil market.

People doing business using technology, getting on with it. Don’t tell COP 🤫

Read more: ArsTechnica 

If you’ve got more time, read this…

In a shock report, the IEA says Big Oil isn’t spending much on clean energy.

Yet- does it make sense to ask oil companies to be something else? They aren’t good at renewables, but are excellent at fossil energy, which we need, for a bit. So, call them ‘bad banks’ and run out the clock.

Can you spot who makes the most money, though?

Thanks for reading. For the last 15 years, I’ve been founding energy transition businesses including Estover Energy (industrial biomass CHP), and co-founded 3ti (solar/EV charging/batteries in one). I sit on the board of Active Energy Group (high carbon bio).

My new business is Beaverbrook Energy - supporting commercial & industrial companies in the energy transition. Follow us on LinkedIn ahead of our 2024 launch.