Why go small when you can go big in committing your multilateral development institute to concur with climate change? This is the exact intent of nine presidents of major financial institutions, amongst them the African Development Bank, the World Bank Group, the New Development Bank, and the Asian Infrastructure Investment Bank.
In December 2017, Georgian power plants generated 1,080 mln. KWh of electricity. This corresponds to a 9% decrease in total generation, compared to the previous year (in 2016, total generation in December was 1,186 mln. kWh). The source of a decline in generation on a yearly basis is less thermal power generation.
In recent times, the world has experienced an exponential increase in solar-powered generating capacity, especially in emerging markets such as China and India. The reasons for this rapid development exist due to low-priced equipment and improved technologies now reaching millions of people. As reported by Bloomberg New Energy Finance, solar capacity grew by 54% year-on-year, and over a three-year period, it has more than tripled.
Perhaps as an early Christmas gift to the international community rooting for a cross-sectoral solution on combatting climate change, HSBC has announced its commitment to establish the world’s first bond. As explained by HSBC themselves, the bond is closely linked to the UN’s Sustainable Development Goals (SDG). Following seven selected SDG targets, HSBC will fund 1 billion USD through the bond and thus financially support projects set out to increase the sustainable well-being of communities and the environment.
ISET is continuing its student policy seminar series. This time, Giorgi Ninua, Mariam Tsulukidze, Mariam Lobjanidze, and Yana Hovhannisyan presented their research results under the supervision of Norberto Pignatti, a member of ISET’s resident faculty and the head of the Energy and Environment Policy Research Center at the ISET Policy Institute.