The U.K. government is planning to ban all petrol and diesel powered cars by 2040. But growing market demand for electric cars may render that deadline irrelevant. Falling costs mean electric vehicles may undercut conventional vehicles by as early as 2025 in the U.S. and Europe. Electric vehicle ownership is expected to match conventional cars
Hello ImpactAlpha readers! #Featured: ImpactAlpha Original Blending finance to unlock capital for the 2030 global goals. To build its $150 million private equity fund to invest in frontier markets, Sarona Asset Management leveraged public funding to lower risks and thus attract private investors. That “blended finance” model is becoming increasingly important in mobilizing private capital
Mobile phones leapfrogged landlines in many developing countries. Solar energy is in the process of leapfrogging the electric grid. India thinks shared electric vehicles could leapfrog both the internal combustion engine and car ownership itself. The government’s initiatives to encourage all-electric vehicles by 2030 and to promote consumer car-sharing over car ownership could reduce projected
Access Power is committing $7 million to a 30-megawatt solar project in Tanzania, a 9.7-megawatt hydro project in Rwanda, and a 48-megawatt wind project in Ghana. The solar projects developer is making equity investments via its Access Co-Development Facility, which also provides technical assistance. The projects were selected from 82 applications from 23 countries and announced
Electric vehicle sales in India are not growing fast enough to meet the country’s all-electric 2030 goal. SoftBank sees an opportunity to help lower the high cost of electric vehicle manufacturing, and retail costs in turn. The bank is reportedly negotiating with the Indian government over low-cost terms for financing 200,000 electric busses for public use. It
As the Trump administration turns away from the global consensus on sustainable development (see above), the Nordics are doubling down. Case in point: Norway is phasing out gas and diesel-powered cars by 2025. Norway already leads the world in electric car ownership. There are 100,000 electric vehicles driving Norwegian roads — the highest per capita of any
All of a sudden, majorities of oil company shareholders are voting to force a full accounting of climate risks and opportunities. Last week, Occidental Petroleum’s shareholders voted overwhelmingly (393 million votes to 191 million) to direct management and the board to assess the impact of the “2-degree scenario” on the oil company’s assets and liabilities.