Baltic Sea key area for proposed EU ramp up in wind power
The European Commission has presented its strategy for offshore energy production, which considers how wind power, wave power and offshore solar power can increase. Almost a third of the EU's offshore energy production is expected to come from the Baltic Sea area. 40% of the EU's energy production is expected to come from offshore wind power by as soon as 2030.
The proposal envisages an expansion to the equivalent of 25 times current capacity, in order for the EU to reach its climate goals by 2050, at a cost of around EUR 800 billion. It is to be financed for the most part by private investment, as well as a portion from the EU's recovery package of EUR 750 billion.
According to a press release from Denmark’s Ministry of Climate, Energy and Supply, as a small country, both in terms of its population and emissions, Denmark collaborates with some of the world's largest emerging economies and CO2 emitters to amplify its impact. As part of a new strategy for global climate efforts, the government is now significantly strengthening its cooperation on green conversion with the world's largest CO2 emitter, China, as well as the emerging economies of Vietnam, Mexico and South Africa by a total of DKK 250 million over five years. The co-operation with the partner countries is run by the Danish Energy Agency in co-operation with the Ministry of Foreign Affairs and the Danish embassies in the countries.
EnergyTag is an independent, non-profit initiative launched to enable energy consumers to track the source of their energy and understand their carbon emissions. EnergyTag, which brings together around 60 of the biggest names in tech and energy, is developing an industry standard to deliver hourly certificates that show consumers where their energy is coming from, allowing them to monitor their carbon emissions in real time. EnergyTag is supported by major firms including Accenture, Microsoft, Google, Eneco, Engie, Iberdrola, Orsted, and PwC. EnergyTag’s Council and Advisory Board are working together to define a set of guidelines that will form the basis of a market for energy certificates with a timestamp of one hour or less.
The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English. Mundus was founded in 2012 to provide information and analysis to embassies accredited to Sweden. Today, we deliver news, analysis and media monitoring of the Nordic countries to the international community in the Nordics.