When Ajay Banga took over as @WorldBank president a year ago, we had five demands:
• Increase support for climate projects to 50% of lending.
• Enhance debt relief for climate-vulnerable nations.
• Triple climate financing to $100 billion annually within five years.
• Increase access to fair credit for Global South nations.
• End all bank lending for #fossilfuels.
So how did the bank do in the past year on supporting a #JustTransition and meeting #ClimateFinance needs now?
Chris Skidmore, the UK's former net zero advisor, and Patricia Espinosa, former UN climate chief, have launched the Global Clean Power Taskforce. The new coalition aims to address setbacks in global climate action policies and accelerate international cooperation in renewable energy and clean power infrastructure. This initiative highlights the ongoing commitment internationally to net zero carbon and sustainable development in energy production and consumption.
Leading global technology firms including Amazon, Google, and Meta have jointly pledged to triple nuclear energy capacity by 2050. This significant corporate collaboration underscores nuclear power's essential role alongside renewable energy sources, enhancing energy security and supporting the broader transition to sustainable, energy-efficient buildings and infrastructure worldwide.
The UK's Crown Estate has gained new authority to borrow and invest, unlocking approximately £1.5 billion in funding. These resources will significantly advance government sustainability and renewable objectives including renewable energy generation, nature restoration, and environmental sustainability in construction. The investment will further enable reductions in embodied carbon and whole life carbon within key infrastructure and building projects throughout the UK.
In Exeter, IHG Hotels & Resorts unveiled its first net zero carbon hotel, designed explicitly for eco-conscious guests. The new hotel is a prominent example of innovative green construction, sustainable design, and sustainable architecture, representing substantial progress towards carbon neutral construction within the hospitality industry. This project clearly demonstrates practical advances towards energy-efficient buildings and overall carbon footprint reduction.
A local UK council has announced plans to reduce fleet carbon emissions by 20% through conversion to Hydrotreated Vegetable Oil (HVO). This practical step provides a measurable reduction in carbon emissions, significantly decreasing the environmental impact of construction and infrastructure operations. The council's switch illustrates effective and sustainable building practices that can be replicated by local governments globally.
UK Secretary for Energy Security and Net Zero, Ed Miliband, has travelled to Beijing to strengthen cooperative international climate action, prioritising discussions on phasing out coal power. Miliband's diplomatic engagement with China contributes to stronger joint commitments on clean technology, sustainable urban development, circular economy initiatives, and enhancing global sustainability policy ahead of the upcoming COP30 summit.
Whole Life Carbon is a platform for the entire construction industry, in the UK and abroad. We keep track of the latest publications, debates, and events pertaining to whole life guidance and net zero. Please get in touch if you have any enquiries, or opinions
to
share.