Archive for the ‘General’ Category

Mayor announces new £100 million fund to accelerate London-wide decarbonisation, in partnership with leading UK investor

Posted on: December 2nd, 2023 by Francesca.lorenzini No Comments

Mayor announces new £100 million fund to accelerate London-wide decarbonisation, in partnership with leading UK investor

New London Efficient and Decentralised Generation of Energy Fund will support new low-carbon infrastructure projects across London
Sustainable Development Capital LLP (SDCL) to partner with City Hall to manage the Fund

The Mayor of London, Sadiq Khan has announced a new £100 million fund to support decarbonisation projects across London in partnership with Sustainable Development Capital LLP (SDCL).

The London Efficient and Decentralised Generation of Energy Fund partnership will unlock additional investment from the private sector and enable many more organisations across the capital to make energy efficient choices. Sadiq has committed £50 million from City Hall which is to be matched by funds managed by SDCL, who will also manage the Fund.

London Efficient and Decentralised Generation of Energy Fund will invest in projects that have the capacity to achieve significant reductions in energy usage, greenhouse gas emissions or other pollutants across London. Building on SDCL’s expertise in low-carbon infrastructure, the Fund will focus on energy efficiency, on-site generation and clean energy solutions – areas key to helping London achieve net zero by 2030 – like installing building management systems, heat pumps, solar panels, and electric vehicle charging.

The London Efficient and Decentralised Generation of Energy Fund will play a vital role in increasing the level of private investment in low-carbon infrastructure in London, acting as a keystone investment for the London Climate Finance Facility, which also includes the Green Finance Fund. The London Efficient and Decentralised Generation of Energy Fund will fund numerous projects over the course of the next four years, accelerating London’s shift to net zero and solidifying London’s leading position as a city delivering climate action. The Fund will set a global example of how private finance and cities can work together to achieve decarbonisation goals by investing in projects that will promote green jobs and low-carbon infrastructure.

London was the first global city to declare a climate emergency in 2018 and Sadiq has set an ambitious target for London to reach net zero by 2030, ahead of the UK Government’s 2050 goal, to mitigate the most devastating impacts of climate change. The London Efficient and Decentralised Generation of Energy Fund is one of the many ways Sadiq is working closely with the private sector to help reduce London’s carbon emissions.

The Mayor of London, Sadiq Khan, said: “I’m committed to making London net zero by 2030 and this is achievable, as long as we work closely together to help deliver energy efficient and low carbon projects.

“This new fund will help us unlock additional investment from the private sector and enable us to support many more organisations across the city as they make energy efficient choices.

“London is a world-leading city and this fund will support hundreds of companies as we build a better, cleaner and greener London for all.”

Jonathan Maxwell, Founder and CEO of SDCL, said: “London is a global hub for servicing the transition and finding creative ways for private capital to play its full part in unlocking projects that are vital to get to net zero. Since SDCL launched we’ve worked with industrial customers around the world to help improve their economic competitiveness and drive their decarbonisation strategies. We’ve a long track record of working with municipalities too and I am delighted to work with the GLA and the Mayor Sadiq Khan on this latest initiative. As the C40 has made clear, cities are vital agents of change when it comes to net zero. With the London Efficient and Decentralised Generation of Energy Fund, London continues to lead by example and I look forward to seeing the types of projects we can help to deliver.”

Mark Watts, Executive Director at C40 said: “This new fund is exciting news and an important step towards accelerating the delivery of London’s carbon targets. By reducing the demand for energy and increasing the uptake of clean energy, this initiative will contribute significantly to phasing out the use of fossil fuels in the city – reducing emissions and improving air quality.”

Sustainable Development Capital LLP (SDCL)

Established in 2007, Sustainable Development Capital LLP (“SDCL”) is a specialist investment firm with a proven track record of financing and developing clean energy, energy efficiency and decentralised energy infrastructure projects in the UK, Continental Europe, North America, and Asia. SDCL was founded to facilitate investment into environmental infrastructure markets and has since launched several funds pioneering energy efficiency solutions. SDCL has raised several innovative energy efficiency investment vehicles, including the first such vehicle listed on the LSE. SDCL has also completed more than 50 green energy solution investments since 2007 and has over $2 billion of AUM. For more information, visit www.sdclgroup.com

About the London Climate Finance Facility

The Mayor’s 2021 manifesto committed to establish a finance facility to further his environmental aims. The GLA commissioned the Green Finance Institute (GFI) to advise on the approach and structures for a London Climate Finance Facility (LCFF).

The Green Finance Institute outlined options to create a London Climate Finance Facility. This includes the Green Finance Fund, which enables local authorities, social housing providers, NHS bodies, universities and colleges to access funding for their green projects and the London Efficient and Decentralised Generation of Energy Fund which will support any London organisation aiming to reduce their carbon footprint.

About the Green Finance Fund

The Mayor’s Green Finance Fund was launched at London Climate Action Week 2023 and will lend up to £500m to projects that help London meet its net zero ambitions. The aim is to accelerate decarbonisation by lowering the cost of borrowing for eligible organisations.

Jonathan Maxwell on CNBC

Posted on: July 10th, 2023 by dusted No Comments

https://cnbcmediahub.com/item/1709720c-4351-47e9-b1e3-4e2ee9febfeb

Europe nat gas price drops after supply diversification

Posted on: February 9th, 2023 by dusted No Comments

https://www.cnbc.com/video/2023/02/23/europe-nat-gas-price-drops-after-supply-diversification-says-sustainable-development-capitals-maxwell.html

SDCL sees watershed to fix broken energy system

Posted on: November 17th, 2022 by dusted No Comments

A blank cheque for two years of capped energy bills was a perverse kind of plan

Posted on: October 25th, 2022 by Anjali Berdia No Comments

SDCL CEO Jonathan Maxwell writes in City AM on how:

“A blank cheque for two years of capped energy bills was a perverse kind of plan”

you can read the full article here:

Link to article

QuotedData Interview with Jonathan Maxwell from SDCL

Posted on: October 14th, 2022 by Anjali Berdia No Comments

Jonathan Maxwell CEO of SDCL was interviewed by James Carthew from QuotedData

you can hear the full interview here:

Link to Podcast

Reducing energy waste key to meeting climate goals

Posted on: October 3rd, 2022 by Anjali Berdia No Comments

SDCL CEO Jonathan Maxwell speaking today at the Reuters Impact sustainability conference in London, highlighted that the key to meeting climate goals is to reduce energy waste.

Link to article

 

It’s time for an Energy Reduction Act

Posted on: September 17th, 2022 by dusted No Comments

The Inflation Reduction Act (IRA), signed into law by President Biden in August, is the most significant climate legislation to ever be passed in the United States.

With $369 billion allocated to “energy security and climate change,” the bill aims to deliver a 40% emission reduction by 2030, resulting in long-lasting impacts for the US and beyond.

The Act’s focus on climate mitigation spending to solve both energy security and inflation represents a major step-change in political thought around climate action.

However, the Act risks being much more of the same, ie. adding energy, but not enough of the new, ie. reducing energy. The IRA predominately focuses on supply side solutions, with energy efficiency representing only 15%-20% of its total funding.

Of the energy efficiency funding, most is directed to households, which use (and waste) less energy than the public, commercial, industrial and transport sectors.

While energy should not be wasted, it is also important not to waste the opportunity to take full advantage of energy efficiency measures necessary to reduce the country’s energy demand and thus lower carbon emissions.

Is now the time for both the United States and the United Kingdom to learn from this and create an Energy Reduction Act that fully capitalises on the potential of energy efficiency?

The central push of the IRA is the incentivisation of the production of a diversified selection of clean energy, which is set to close about two-thirds of the remaining emissions gap between current policy and the nation’s 2030 climate target.

There is a big emphasis on making the electricity grid more renewable, yet electricity supply only accounts for only 25% of the US’ Greenhouse Gas (GHG) emissions, with transportation and industry together accounting for 51% of GHG emissions.

While making the electricity grid cleaner is vital to reducing emissions, building renewable energy generation is both time and cost intensive. On the other hand, energy efficiency projects are cost effective and quick to construct, making these overlooked, demand-side solutions vital to decreasing emissions to meet 2030 goals.

Despite these benefits, when it comes to energy efficiency measures, the IRA’s focus is on subsidies aimed predominately at private citizens, with the largest amount of funding being $9 billion for Consumer Energy Efficient Retrofits.

Although it’s great to see energy efficiency climbing rapidly up the transition agenda in the US, not enough is being done to address energy wastage.

“Most of the public would be shocked to learn that the US wastes more than two-thirds of the energy it uses”

Most of the public would be shocked to learn that the US wastes more than two-thirds of the energy it uses, with approximately 70% lost in conversion, generation, transmission, and distribution, before it even gets to the point of use.

Energy efficiency needs to be at the heart of the decision-making and sadly this has not been fully addressed by the IRA. The UK’s change in leadership presents an opportunity to learn from the US’ new Act.

The unveiling of a new £150 billion UK energy plan shows that the Government is rightly willing to try and address the problems caused by the energy crisis, but we must focus on reducing demand and investing in the areas where we can get the most benefit.

The International Energy Agency estimates that $1 invested in energy efficiency generates $2 of savings. So far, the case for energy efficiency has been largely overlooked in UK energy policy.

Considered as one of the most central pieces of policy in the UK’s goal of reaching net zero, the Energy Security Strategy gave almost no clear indication on how energy efficiency would feature in the Government’s energy transition plans, and it wasn’t addressed in the Chancellor’s Spring Statement.

In contrast, the commitment to energy efficiency is anchored in EU legislation and is one of the key pillars not only to meet EU’s climate objectives but also to reduce dependence on fossil fuels from abroad and increase security of supply.

The UK must target the areas the IRA failed to fully address, by reducing energy demand at the point of use, as well as making supply and distribution more efficient.

The UK can do this with commercially proven technologies at scale that are readily available today, such as on-site co-generation, solar and storage, renewable heat, bioenergy, green gas and hydrogen, efficient lighting, heating, cooling and controls.

By reducing the ‘size of the cake’, rather than relying on the supply side alone, we can find gigawatts of energy demand reduction, reducing and removing costs and carbon.

Jonathan Maxwell is CEO and Anjali Berdia is a sustainability associate here at Sustainable Development Capital, LLP.

If we want to cut energy bills, we must stop waste, warns SDCL

Posted on: September 12th, 2022 by Anjali Berdia No Comments

SDCL Chief Executive, Jonathan Maxwell, talks to the Times about how Britain could save over £100 billion if it stopped wasting so much energy

 

Link to Article

 

Energy, The Fed, And Germany

Posted on: July 29th, 2022 by dusted No Comments

Bloomberg podcast.