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Intelligence for the New World Economy

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Intelligence for the New World Economy

Semafor Energy

Renewables could increase developing countries’ GDP by 10%, report finds

Between 2017 and 2022, renewable investments in the 100 largest developing countries (excluding China) contributed a combined $1.2 trillion to GDP growth.
An aerial view of solar power panels in Lagos.Seun Sanni/Reuters

Newsom rejects Trump plan to drill off California coast

‘Over our dead body, full stop,’ Newsom said about Trump’s drilling plans.
California Governor Gavin Newsom at COP30.Adriano Machado/Reuters

COP parties head below deck

Negotiations may be off to a slow start at COP, but the after-hours party scene is alive and well.
Inside of a ship.Tim McDonnell/Semafor

Fossil fuel use could peak by 2030: International Energy Agency

Coal use is at or close to a peak, while oil and gas are set to follow in the next 10 years, the World Energy Outlook stated.
Candiota III coal-fired power plant in Brazil.Diego Vara/Reuters

Brazil launches forest conservation fund at COP30

The multi-billion dollar fund is far short of its initial fundraising target, but should still be operational within the next 12 months, its top official told Semafor.
Carajas National Forest in the Amazonian state of Para, BrazilJorge Silva/Reuters

COP30 sidesteps trade barriers

On its first day, COP30 managed to overcome a basic but notoriously contentious obstacle: settling on an agenda.
COP30Mateus Bonomi/File Photo/Reuters

China’s emissions have remained flat for more than a year, new data shows

The emissions trend is partly driven by falling construction and manufacturing, Carbon Brief data showed.

World’s biggest electric ship charges up

The Australian-built battery-electric ship will “test the limits of maritime electrification,” IEEE Spectrum wrote.

COP30 kicks off with no US presence

The COP30 climate summit in Brazil, kicking off Monday, will be defined largely by the absence of the US, a space that will be partially filled by China.

Soaring energy prices gave Democrats a winning message

Electricity prices are rising twice as fast as the overall rate of inflation in the US.

China to double battery storage by next year as renewables boom

Batteries are a key component in the energy transition, as most solar electricity is generated when demand is low.

Investors push to create international body for mining sector

Pension funds and other large institutional investors tend to avoid holding shares of mining companies out of concern for ESG risks.

Trump’s long-term impact on global warming limited, reports suggest

The two reports suggest Trump’s actions are being offset by the plummeting cost of renewables and ongoing climate policies in other countries.

ADNOC still sees a long future for oil

“The long-term outlook shows demand growth for every form of energy,” Sultan Al-Jaber said at the ADIPEC energy conference.

Saudi carbon market projected to double trading volumes

The CEO of carbon trading platform Saudi Arabia’s Voluntary Carbon Market Co. expects 20 million credits will be traded next year.

‘Energy realism’ defines Abu Dhabi’s ADIPEC

The world is entering an era of explosive growth in energy demand, said the UAE’s Minister of Industry and Advanced Technology Sultan Al Jaber.

Global solar boom tempers climate change pessimism

There is already four times as much solar capacity worldwide as analysts in 2010 had forecast for 2035.

Ukraine needs urgent investment to avoid blackouts: IEA

A seven-year-old girl was among the fatalities of the latest bombardment of Ukraine’s power grid by Russia on Thursday.