News and Announcements
Nanuk Global Alpha Fund Monthly Report – October 2014
- Published November 13, 2014 1:29PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Hello,
The longer term outlook for industries addressing the global challenges of environmental sustainability and resource scarcity continues to improve. In late October EU leaders agreed to a 2030 greenhouse gas emission reduction target of at least 40% from 1990 levels – up from the 2020 target of 20% which is now likely to be surpassed. Renewable energy and energy savings targets of 27% were also set. The EU agreement coincided with the release of the UN Intergovernmental Panel on Climate Change’s fifth assessment report which strengthened the message of earlier reports – human influence on the climate is clear and growing and if left unchecked presents severe, pervasive and irreversible impacts for people and ecosystems and well as developmental challenges and security threats, and significant steps need to be taken very soon if the outcomes are to be managed. (A short summary of the report’s findings can be found at http://www.ipcc.ch/news_and_events/docs/ar5/ar5_syr_headlines_en.pdf )There was a significant and positive message also – that the tools and technologies already exist that can put the world on the right track, and with the right policies and institutions it is possible to transition to a low carbon economy with limited economic cost. The message from the chair of the Panel was clear: all we need is the will to change. That will will be tested next year as the UN seeks a global climate change agreement, but the prospects have been improved with the two largest economies and emitters of greenhouse gases, China and the US, announcing an historic deal on 12 November to cut emissions – with the US committing to cut its 2005 level of carbon emissions by 26-28% before the year 2025 and China committing to peak its carbon emissions by 2030 and will also aim to get 20% of its energy from zero-carbon emission sources by the same year. As important as the policy headlines is the recognition by both governments and businesses that rapid technological improvements in the areas of energy and energy efficiency make these ambitions feasible.And for the regular interest question: Which US state has mandated its major utilities to implement energy storage solutions by 2020? Read on to find out……..Please don’t hesitate to let us know if you have any queries.Thanks and regards,Melanie De CressacBusiness ManagerA: Level 15, Gold Fields House, 1 Alfred Street, Sydney NSW 2000 Australia