Replacement with green hydrogen will contribute to the decarbonisation of the industry. The Climate Accord puts forth a comprehensive plan for achieving a 49% reduction in greenhouse gas emissions in 2030, in fulfilment of the 2015 Paris Agreement. Neither information nor any opinion expressed on the website constitutes a solicitation, an offer or a recommendation to buy, sell or dispose of any investment, to engage in any other transaction or to provide any investment advice or service. Certainly ambitious, and I am curious whence came the technical support for the very specific breakdown of contributions.

In the Climate and Energy Report (KEV), the PBL will provide its annual forecast in of carbon emissions for the year 2030. Looking somewhat further beyond 2030, hydrogen has a clear role as an energy carrier for electric vehicles. For more on this, see Gerard Wynn’s articles on Energy Post: The big Dutch coal mistake (part 1) and The Big Dutch coal mistake (part 2). For more on the Dutch get-off-the-gas program, which has been under discussion in government circles for some time, see Eline van den Ende’s recent article on Energy Post: A revolution: The Netherlands kisses gas goodbye – but will it help the climate? The funds shown on this website may not be available in your country. To achieve in total 20 Mt CO2 emission reduction in 2030 by CCS alone, it would be necessary a.o.

At present, industry is already using large quantities of hydrogen, but this mainly produced from natural gas. red. That’s more than the 40% reduction the EU member states agreed on after the Paris Agreement. By 2030, the Netherlands aims to reduce its greenhouse gas emissions by 49% compared to 1990 levels. The joint financial sector – banks, insurance companies, pension funds and asset managers – supports this Climate Accord through the financial sector commitment. Incidentally, the tens of thousands of skilled workers needed to do this work will have to be trained quickly, since at the moment they’re not available on the labour market. Reaction from Gerard Wynn, energy finance consultant at IEEFA: “The coal phaseout plan by the Netherlands today shows that no investment in coal-fired power in Europe is safe. The cornerstone of its plans is CCS. If the industry would come up with alternative, cheaper or more clever plan to reduce their emissions it would be no problem. The EU or China. This is a result of Deloitte calculations based on the target formulated in the climate accord. Contact. If you have any questions or would like to discuss opportunities, please contact us. The `Climate Accord´consist of hundreds of measures. All in all, the plans represent quite a revolution in the Dutch approach to climate policy. In 2019 the Netherlands generated 18 percent more electricity from renewable sources than in the previous year (2018: 11 percent). Stay informed on Sustainable Investing with monthly mail updates, Sustainable investing expertise in one publication, Robeco strengthens exclusions policy for fossil fuels, SI Opener: Loss of biodiversity is a bigger threat than climate change. This site uses cookies, for a number of reasons. CrossWind Consortium Awarded Tender for Hollandse Kust Wind Farm. The population in general is also being asked to do their bit, such as moving away from eating animal protein and consuming more vegetable protein. At the end of June, the Dutch cabinet presented the final framework. It contains a set of measures drawn up in consultation with various parties across Dutch society in the joint combat against climate change.

Sitting back arguing about it for a couple more years will not do us any good.

Have an interesting read! For green parties and NGOs, it does not go far enough, but for rightwing and populist parties, there is no necessity to do anything. red. Unless this possibility has since been discounted, it might now be reviewed for storing CO2 from industrial facilities still dependent on fossil fuels. Quite separate from the way vehicles are powered, there are also lots of opportunities to improve transport logistics in the Netherlands. In good Dutch tradition, the accord is based on the ’Poldermodel’ – reaching a compromise. | A lawsuit instigated by NGO Urgenda, forcing government to reduce the greenhouse gas emissions up to 25% by the end of 2020 compared to the emissions in 1990. What is more, the burning of biomass in the coal power stations will not be subsidized anymore after 2024. Robeco has signed this agreement because we have long been committed to all forms of sustainable investing, including the fight against global warming. It also intends to close all its coal-fired power stations by 2030 and to allow only zero-emission vehicles to be sold from 2030 on. The transition from traditional gas to district heating cannot be realized without government incentives according to the calculations. A revolution: The Netherlands kisses gas goodbye – but will it help the climate? At present, industry is already using large quantities of hydrogen, but this mainly produced from natural gas. 2. Finally, food waste must be halved by 2050. Over the past year more than 100 parties have developed a package of proposals that will enable the Netherlands to nearly halve its carbon emissions by 2030. Enhancing the energy efficiency of 1,5 million homes and 1 million utility buildings. We have already seen the first exploratory projects (for more, see: ‘Fleet of electric buses around Schiphol' and 'Electric truck from the Netherlands'). If you found this article interesting, subscribe for free to our weekly newsletter! Green Deal Investment Plan (EGDIP), Urgenda Foundation v The Netherlands (C/09/456689 / HA ZA 13-1396) - Case Comment, http://uitspraken.rechtspraak.nl/inziendocument?id=ECLI:NL:RBDHA:2015:7196, Important State Aid Decision: European Court of Justice Upheld Germany`s Renewable Energy Law - Case Comment C-405/16 P Germany v Commission. The government set a quantified emission reduction target. Authorities will have to opt for sustainable alternatives when procuring equipment and vehicles. These are the kind of early actions needed to avoid the worst impacts of climate change, protect the lives of EU citizens and live up to what Europe committed to in Paris.”. Acquiring data on scope 3 emissions: currently the financial industry is using scope 1 (GHG emissions from own operations) and scope 2 (GHG emissions from energy purchased) data to assess the carbon footprint of portfolios. | This can be renewable electricity, green gas or heat. (2) recycling (em. Earthquakes in the North of the Netherlands due to the extraction of natural gas, forcing the government to reduce the production. This is a result of Deloitte calculations based on the target formulated in the climate accord. In that context, the Netherlands themselves will aim for a national 49% emission reduction target, close all coal-fired power plants by 2030 and will only allow zero emission cars by 2030.

Not ambitious at all! I presume that the lessons learned there are included in the economic evaluation of the proposed CCS. Social login not available on Microsoft Edge browser at this time. Main concepts of Dutch climate agreement announced 11 juli 2018. Once a good analysis on portfolio climate risk has been made, it is up to the asset manager to decide on whether and how to reduce these risks. Buses and freight transport must also be electrified. A recent Facebook posting shows the Dutch prime minister biking over to have a meeting with the king. Please select your country website (top right corner) to view the products that are available in your country. A consumer? Municipalities take the lead in a local, participative approach, to make housing emission free, neighborhood by neighborhood. 2.2 Mton; cost -130 €/ton);

The financial impact of physical risks can be quite different if an asset is protected or insured, compared with outcomes if a company is not prepared at all. Our current climate change policy already shows our commitment to achieving the Paris goals.

Green hydrogen, produced with renewable sources such as wind and solar energy, is central to the Dutch Climate Accord and the European Green Deal. Accelerating offshore wind power, also growth of onshore wind and solar energy; Subsidies for additional renewable energy capacity (wind and solar) until 2025; estimated 70% renewable share in electricity production by 2030, Introduction of a minimum CO2 price for electricity production, Sustainable heating in greenhouse horticulture, Reducing methane emissions from livestock through improved processing of manure, Carbon storage in soil and vegetation through pilot programmes for climate-friendly land use, Incentives for climate-friendly food consumption and reducing food waste. The social and economic effects will be devastating, I am convinced. Talks were held across 5 Climate Agreement sectoral platforms: Buildings, Electricity, Industry, Mobility and Agriculture. The language around climate change is changing. These commitments are no paper exercise: the achievements of the financial sector will be monitored, and the agreements revisited once every five years. Specialised in EU Energy Law. However, we cannot wait for the data to be 100% correct, so we need to work with what we have so that we do not lose momentum. Hybrid electric aviation is strongly viewed as one of the more promising avenues to achieve this. Current energy and climate initiatives already in place are expected to lead to a 63 megatonne (Mton) reduction in GHG emissions in 2030, which is 47.8 Mton short of the target. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. As a global leader in the field of ESG integration, the Dutch asset management sector sees itself playing an active role in developing these standards.

The incentives required in the next 10 years are estimated at €3.0bn - €4,5bn. Moreover, we will opt for the most cost-effective and future-proof approach. This plan was developed with many parties involved. A decision on a possibly more ambitious EU target is foreseen for 2019, but  “ff the EU as a whole turns out to be insufficiently ambitious, we will seek to work with neighbouring countries to agree on extra efforts in addition to the EU agreement”, the accord notes.

If emissions remained unchanged at 800 Gt/a, on the other hand, only nine years now remain before the fossil fuel industry would have to be shut down completely. We believe the asset management industry can go further than merely supporting clients on this issue.

Mr. Herb, you’re right. Zi... More, Overview of the developments and measures. 4-8 Mton; cost 50-90 €/ton); From these figures one may conclude that 18 Mt CO2 emissions reduction in the industry at least partly requires CCS. However, like all transitions this one will not be without its challenges. However, at this time we don’t see enough of those initiatives to reach our ambitious targets (-49%). The government aims to submit the Climate Plan and the NECP to the House by the end of this year so that they can be adopted before the year comes to a close. Replacement with green hydrogen contributes significantly to the decarbonisation of the industry. The objective of these strategies is to translate the national targets to regional programs and projects, with a focus on the themes Built Environment and Electricity. The bulk of the increase is attributable to new, large rooftop and ground-mounted solar panel systems. Both consumers and companies will bear the costs of the transition. This data merely reflects direct emissions, and misses those made indirectly from products and supply chains. It also promises to invest in charging infrastructure, and to prepare the Dutch transport infrastructure for the introduction of self-driving cars. Authorities, companies and interest groups are meeting at five so-called climate tables to try to reach agreements that will result in at least a 49% reduction in CO2 emissions by 2030. Parliamentary document: Letter to the Parliament | 28-06-2019, Climate deal makes halving carbon emissions feasible and affordable, Ministry of Economic Affairs and Climate Policy. Business Operations July 30, 2020.