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Abstract The Sustainable Development Goal 8, “Decent Work and Economic Growth,” (SDG8) has crucial significance for developing nations as they grapple with the dual challenges of fostering economic growth and addressing climate change, as they are often hindered by financial constraints in advancing low-carbon transitions. Centered on SDG 8, particularly in developing countries, this paper takes Indonesia as a case study to delineate challenges and propose insights for an optimal green growth strategy. Challenges encompass fostering enduring, inclusive, and sustainable economic growth while meeting the heightened demand for electricity arising from economic priorities and strategies. The Government of Indonesia envisions low-carbon transition activities that create a substantial and dynamic workforce while preserving natural resources and the environment. The government wishes to leverage international green finance opportunities to mobilize economically stimulating capital while concurrently strengthening domestic investment capacities for future needs. In conclusion, this paper not only analyzes current challenges but also outlines prospective pathways to achieve sustainability.

Abstract Electrification plays a crucial role in deep decarbonization. However, electrification and power infrastructure can cause mutual challenges. We use nationwide power outage and electric vehicle adoption data in China to provide empirical evidence on how power infrastructure failures can deter electrification. We find that when the number of power outages per district increases by 1 in a given month, the number of new electric vehicles adopted per month decreases by 0.99%. A doubling of power outages in one year on average across the nation can create a depressed adoption rate for up to a decade, implying a decline of more than $ 31.3 million per year in carbon reduction benefits from electric vehicle adoptions. This paper adds to the policy discussion of the costs of increased power outages due to extreme weather and natural disasters, and the urgency for policy to address this issue to facilitate wide adoption of electrification.

Abstract Publicly available electric vehicle (EV) infrastructure is pivotal for the United States EV transition by 2030. Existing infrastructure lacks equitably distribution to low-income and underrepresented communities, impeding mass adoption. Our study, utilizing 2021 micro-level data from 121 million United States households, comprehensively examines income and racial disparities in EV infrastructure accessibility. Our analysis of national averages indicates that lower-income groups face less accessibility to public EV infrastructure in both urban and rural geographies. Black households experience less rural accessibility, but greater urban accessibility compared to White households conditioning on income. However, our localized analysis uncovers significant variations in accessibility gaps among counties, rural and urban settings, and dwelling types. While Black households experience greater urban accessibility nationally, a closer look at the county level reveals diminishing advantages. This study identifies areas with pronounced inequality and urgent needs for enhanced accessibility, emphasizing the necessity for tailored solutions by local governments to enhance equitable access to EV infrastructure.

Abstract Companies can prioritize diverse types of sustainable investment finance to reflect their concerns about climate change and carbon emissions. One such investment avenue is voluntary carbon offset (VCO) projects, in which companies invest to offset their carbon footprint. However, despite growing research into what and how these companies are doing in VCO markets, much remains to be learned about the motivations for such investments. In this paper, we utilized two datasets with a natural linkage to conduct a mixed-method analysis for a group of 186 companies globally with 534 carbon offset projects in 2017. This allowed us to assess motivations that drive companies to invest in the offset projects, and how different motivations map on to specific purchase decisions which then channel into larger financial flows. We identified three corporate motivations for carbon offset investment and found that companies using carbon offsets to achieve carbon neutrality has been coupled with some companies highlighting the importance of using offsets to contribute to “company values” and “market competitiveness.” Our study uncovered two contrasting trends in offset investment. Companies driven by values and market competitiveness demonstrated a willingness to invest in high-cost projects that provide significant local co-benefits. On the other hand, companies motivated by carbon management and efficiency showed a preference for lower-cost projects, particularly those related to renewable energy.

Clean development mechanism projects with the largest local co-benefits for achieving the sustainable development goals are valued up to 30% higher by the climate finance market, according to econometric analyses.

As the world seeks to increase ambition rapidly to limit global warming to 1.5 °C, joint leadership from the world's largest greenhouse gas (GHG) emitters—the United States (U.S.) and China—will be critical to deliver significant emissions reductions from their own countries as well as to catalyze increased international action. After a period of uncertainty in international climate policy, these countries now both have current leadership that supports ambitious climate action. In this context, a feasible, high-impact, and potentially globally catalytic agreement by the U.S. and China to transition away from coal to clean energy would be a major contribution toward this global effort. We undertake a plant-by-plant assessment in the power sector to identify practical coal retirement pathways for each country that are in line with national priorities and the global 1.5 °C target. Our plant-by-plant analysis shows that the 1.5 °C-compatible pathways may result in an average retirement age of 47 years for the U.S. coal plants and 22 years for Chinese coal plants, raising important questions of how to compare broader economic, employment, and social impacts. We also demonstrate that such pathways would also lead to significant emissions reductions, lowering overall global energy-related CO2 emissions by about 9% in 2030 relative to 2020. A catalytic effect from the possibility of other countries taking compatible actions is estimated to reduce global emissions by 5.1 Gt CO2 in 2030 and by 10.1 Gt CO2 in 2045.

Summary: This study provides an empirical assessment of how adopting battery storage units can change the electricity consumption patterns of PV consumers using individual-consumer-level hourly smart meter data in Arizona, United States. We find that on average after adding batteries, PV consumers use more solar electricity to power their houses and send less solar electricity back to the grid. In addition, adding battery storage reduces electricity needed from the grid during system peak hours, helping utilities better flatten the load curves. Most importantly, we find a large degree of heterogeneity in the changes in electricity consumption patterns due to adopting battery storage that are not consistent with engineering or economic principles such as those not maximizing consumers’ economic benefits. Such heterogeneous changes imply that utilities and policymakers need to further study the underlying behavioral reasons in order to maximize the social benefits of battery storage and PV co-adoption.

A key strategy for meeting China’s 2060 carbon neutrality goal and the global 1.5 °C climate goal is to rapidly shift away from unabated coal use. Here, the authors detail how to structure a high-ambition, plant-by-plant coal phaseout in China while balancing multiple national needs.

The plant-by-plant retirement needs are not well-understood yet to achieve the rapid transition away from coal use. Here the authors found that operational lifetimes of existing units must be reduced to approximately 35 years to keep warming well below 2 °C or 20 years for 1.5 °C, even if no new capacity comes online.

Abstract The Paris Agreement seeks to combine international efforts to keep global temperature increase to well‐below 2°C. Whilst current ambitions in many signatories are insufficient to achieve this goal, optimism prevailed in the second half of 2020. Not only did several major emitters announce net‐zero mitigation targets around mid‐century, but the new Biden Administration immediately announced the U.S.’s re‐entry into Paris and a net‐zero goal for 2050. U.S. federal re‐engagement in climate action could have a considerable impact on its national greenhouse gas emissions pathway, by significantly augmenting existing state‐level actions. Combined with U.S. re‐entry in the Paris Agreement, this could also serve as a stimulus to enhance ambitions in other countries. A critical question then becomes what such U.S. re‐engagement, through both national and international channels, would have on the global picture. This commentary explores precisely this question, by using an integrated assessment model to assess U.S. national emissions, global emissions, and end‐of‐century temperatures in five scenarios combining different climate ambition levels in both the U.S. and the rest of the world. Our analyses finds that ambitious climate leadership by the Biden Administration on top of enhanced climate commitments by other the major economies could potentially be the trigger for the world to fulfill the temperature goal of the Paris Agreement.

Momentum to phase out unabated coal use is growing globally. This transition is critical to meeting the Paris climate goals but can potentially lead to large amounts of stranded assets, especially in regions with newer and growing coal fleets. Here we combine plant-level data with a global integrated assessment model to quantify changes in global stranded asset risks from coal-fired power plants across regions and over time. With new plant proposals, cancellations, and retirements over the past five years, global net committed emissions in 2030 from existing and planned coal plants declined by 3.3 GtCO _2 (25%). While these emissions are now roughly in line with initial Nationally Determined Contributions (NDCs) to the Paris Agreement, they remain far off track from longer-term climate goals. Progress made in 2021 towards no new coal can potentially avoid a 24% (503 GW) increase in capacity and a 55% ($520 billion) increase in stranded assets under 1.5 °C. Stranded asset risks fall disproportionately on emerging Asian economies with newer and growing coal fleets. Recent no new coal commitments from major coal financers can potentially reduce stranding of international investments by over 50%.