E.ON trails new green growth strategy
E.ON

German utility giant E.ON SE has announced plans to launch a green energy investment strategy to lead the rm into the “new energy world”.

“We’ll focus on our strong customer base and its interests. We offer our customers more efficient networks, new energy solutions and competitive renewables. Our sustainable business models will deliver increasing earnings, which will benefit our investors as well,” E.ON CEO Johannes Teyssen said in a statement when releasing the company’s half yearly results.

He briefly touched on a new plan to focus on the “new energy world”, suggesting that it would include investment in “competitive renewables” and energy efficiency.

Last year, E.ON spun off its fossil fuel business Uniper SE into a separate entity, leaving it free to focus on cleaner sources of generation and energy-related services. Since then, it has focused on boosting its green power offering, including rolling out electric vehicle charge points in homes and expanding access to clean energy tariffs through a partnership with supermarket retailer Lidl UK, the Business Green news portal reported.

It has targeted much of its focus on the solar market, introducing the Aura battery storage system and E.ON Solar Cloud for solar power storage, and teaming up with Google on Project Sunroof to help consumers identify the solar potential of their rooftops. As a result, E.ON said demand for its solar solutions has increased sixfold in Germany over the course of a year, the report added.

OECD Report Finds Slow Progress on Green Growth

A report by the Organisation for Economic Cooperation and Development (OECD) finds most countries have yet to fully disconnect economic growth from fossil fuel use and pollutant emissions. OECD underscores that progress is too slow, and if emissions embodied in international trade are included, advances in environmental productivity are more modest.

The report, titled “Green Growth Indicators 2017”, states that since the 1990s all OECD and Group of 20 countries have increased their overall environmentally-adjusted productivity (a measurement of economic productivity that accounts for pressures like pollution and natural resource use).

Furthermore, carbon productivity (gross domestic product (GDP) per unit of carbon dioxide (CO2) emitted) has improved, with 50% of the 35 OECD members “decoupling” emissions from growth, which means that emissions no longer rise in tandem with economic growth, according to a report at an on- line portal for the United Nations’ 2030 Agenda for Sustainable Development.

It noted that OECD observes that a more nuanced picture emerges when factoring in trade flows and considering emissions from the perspective of final demand. The publication explained that most OECD countries are net importers of CO2 emissions, so when the CO2 emitted during production stages of goods or services abroad are included in calculations, only 12 OECD countries have decoupled their emissions from GDP.

The report observed that no country is performing well on all green growth dimensions, with insufficient progress on relieving pressure on environmental services such as climate regulation and water purification or preserving the natural asset base. Denmark, Estonia, the UK, Italy and the Slovak Republic have made the most progress on green growth since 2000.

Europe funds GreekGreen Growth

The European Bank for Reconstruction and Development (EBRD) has provided €28.3 million (RM142.32 million) to help Hellenic Petroleum SA diversify into renewable energy (RE) in Greece. The EBRD sub- scribed to bonds issued by Hellenic Petroleum that will support a pipeline of wind and solar projects totalling 190MW, reported RE News.

The EBRD investment is part of its €300m Greek RE Framework, which was launched in March 2017 to finance investments in renewables and in electricity distribution and transmission capacity. Hellenic Petroleum has set up a clean power subsidiary called ELPE Renewables to develop the projects in Greece.

EBRD director, power and energy utilities Harry Boyd-Carpenter said: “We are very pleased to support Hellenic Petroleum in diversifying their business into RE. Our new renewables support scheme in Greece lays a sustainable foundation for the development of the sector, in particular by using a competitive mechanism.”