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The Fine Print I:
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The Fine Print II:
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The bad news first.
This study examines the prospects for transformative clean energy investment projects for New York State. Taken as a whole, these investments should be understood as a major initiative within the state to advance the fundamental goal of global climate stabilization. These investments should be undertaken by both the public and private sectors in New York State, supported by a combination of public investments and incentives for private investors.
Inadequate levels of investment in renewable energy are a major obstacle standing in the way of the transition to a new, renewables-based energy system. TUED Working Paper 9, Energy Transition: Are We Winning? raised this investment deficit in passing and in a very broad context: Fossil-based energy use is rising globally, and renewables have so far failed to seriously alter the overall direction of global energy systems. “Modern renewables” like wind and solar remain on the margins of the global energy system. At the end of 2015, wind and solar PV together generated just 4.6% of global electricity.
Of the 50 United States, Alaska best exemplifies the types of problems the rest of the country may well face in a matter of decades, if not years, if we don’t wean ourselves from fossil fuels. The U.S. is in the middle of an oil and gas production boom, one that has caused oil and gas prices to plummet, with devastating consequences for Alaska, a state that has grown dependent on revenue from the oil and gas industry for its public funds.
Just Transition is a key requirement of the Paris Agreement. More than a decade of advocacy in environmental and climate negotiations has resulted in ensuring that social considerations must be an integral part of policy, planning and implementation of climate action. But what is Just Transition? This Frontline briefing provides a guide to national policies and international climate governance. It summarises our work to date and puts forward ideas on how the concept can be developed further.
Executive Summary