Macquarie and Brookfield Chiefs Identify Obstacles in Green Energy Transition
11.10.2023 By Tank Terminals - NEWS

November 11, 2023 [Investing]- In a discussion at the Bloomberg New Economy Forum on Thursday, top executives from Macquarie Group (OTC:MQBKY) and Brookfield Asset Management (TSX:BAM) highlighted the challenges facing developing nations in their transition to green energy.

 

Shemara Wikramanayake, CEO of Macquarie Group, and Mark Carney of Brookfield Asset Management pointed to “newer, low-cost coal” as a significant hurdle.

The executives emphasized the need for affordable clean energy and increased green capital flows. Carney proposed a substantial increase in cross-border capital by the end of the decade to facilitate this transition.

The pair also touched on the intricacies surrounding Just Energy Transition Partnerships (JETPs). These mechanisms are designed to redirect funds from wealthy nations to developing ones to support their switch to clean energy.

They acknowledged the upcoming 2023 United Nations Climate Change Conference in Dubai as a crucial moment for establishing a new financial framework that would aid this transition. The conference will provide an opportunity for global leaders to strategize and collaborate on effective solutions for these identified obstacles.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

India's First Methanol Plant to be Set up in Telangana
11.21.2024 - NEWS
November 21, 2024 [Chem Analyst]- In a groundbreaking initiative, India is set to get its first m... Read More
Egypt in Talks with Foreign Companies Over Long-Term LNG Purchases, Sources Say
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Egypt is in talks with U.S. and other foreign companies to purchase ... Read More
INEOS and GNFC Sign a Memorandum of Understanding to Build a New World Scale Acetic Acid Unit in India
11.21.2024 - NEWS
November 21, 2024 [INEOS]- INEOS Acetyls and Gujarat Narmada Valley Fertilizers & Chemicals L... Read More
Peru's State Oil Firm Could Open to Private Investors in 2025, Chairman says
11.21.2024 - NEWS
November 21, 2024 [Reuters]- Peru’s indebted state-run oil firmĀ could consider offering a ... Read More