Global trends in sustainable energy investment.

This report shows that in spite of the global economic downturn, investment in sustainable energy is still strong

Financing the civic energy sector: How financial institutions affect ownership models in Germany and the United Kingdom

This paper examines the relations between financing institutions and more local ownership structures for energy provision. This research defines municipal and civil society structures involved in energy provision as the ‘Civic Energy Sector’. It argues that the financial institutions of nations are key enabling institutions for this sector to contribute to a low carbon energy transition. The path of development of these financial institutions helps to shape the ownership structures and technology choices of energy systems and futures in different nations. This paper presents findings from case analysis comparing the United Kingdom’s latent civic energy sector, with the expansion of this sector in Germany. Using an institutional economics framing, the paper demonstrates the importance of the German local banking sector in facilitating civic ownership structures in that country. In contrast, the neo-liberal, market-led financial institutions in the UK, reinforce energy pathways less reliant on civic ownership models. Hence, the forms of low carbon energy transition being pursued in these countries are constrained by path dependence of institutions both within and beyond the energy sector

The pace of governed energy transitions: agency, international dynamics and the global Paris agreement accelerating decarbonisation processes?

The recent debate on the temporal dynamics of energy transitions is crucial since one of the main reasons for embarking on transitions away from fossil fuels is tackling climate change. Long-drawn out transitions, taking decades or even centuries as we have seen historically, are unlikely to help achieve climate change mitigation targets. Therefore, the pace of energy transitions and whether they can be sped up is a key academic and policy question. Our argument is that while history is important in order to understand the dynamics of transitions, the pace of historic transitions is only partly a good guide to the future. We agree with Sovacool’s [1] argument that quicker transitions have happened in the past and may therefore also be possible in the future globally. The key reason for our optimism is that historic energy transitions have not been consciously governed, whereas today a wide variety of actors is engaged in active attempts to govern the transition towards low carbon energy systems. In addition, international innovation dynamics can work in favour of speeding up the global low-carbon transition. Finally, the 2015 Paris agreement demonstrates a global commitment to move towards a low carbon economy for the first time, thereby signalling the required political will to foster quick transitions and to overcome resistance, such as from incumbents with sunk infrastructure investments

The political sustainability of climate policy: the case of the UK Climate Change Act

This paper assesses the forces working for and against the political sustainability of the UK 2008 Climate Change Act. The adoption of the Act is seen as a landmark commitment to action on climate change, but its implementation has not been studied in any depth. Recent events, including disagreements over the fourth carbon budget and the decarbonisation of the electricity sector, shows that while the Act might appear to lock in a commitment to reducing emissions through legal means, this does not guarantee political lock-in. The assumption, made by some proponents of the Act, that accountability of political leaders to a public concerned about climate change, via Parliament, would provide the main political underpinning to the Act is criticised. An analysis of alternative sources of political durability is presented, drawing on a framework for understanding the sustainability of reform developed by Patashnik. It is argued that the Act has helped create major institutional transformations, although the degree to which new institutions have displaced the power of existing ones is limited. The Act has produced some policy feedback effects, especially in the business community, and some limited investment effects, but both have been insufficient to withstand destabilisation by recent party political conflicts. The Climate Change Act remains at risk