Thoroughly assessing the owners and distribution of stranded assets in a 2 °C scenario is essential to anticipate climate policy resistance. We employ novel data to analyze owners and incidence of asset stranding in the power sector globally. We show that Asia-Pacific, Europe, and the US are highly exposed to stranded assets, especially coal plants. Stranded assets are highly concentrated in a few asset owners in some countries (e.g., India). Even if owners are more equally exposed (e.g., in the US) they can vary considerably in the asset stranding timing due to differences in plant fleets' age profile. European, US, and Chinese asset owners own large shares of stranded coal plants abroad. Listed owners may face stranded assets of up to 78% of their share price or more than 80% of their equity. Asset stranding exposure positively correlates with ownership of alternative energy assets. India stands out owning many stranded assets but little alternative energy.
Download full-text PDF |
Source |
|---|---|
| http://www.ncbi.nlm.nih.gov/pmc/articles/PMC10576069 | PMC |
| http://dx.doi.org/10.1038/s41467-023-42031-w | DOI Listing |
Publication Analysis
Top Keywords
Similar Publications
Analyzing the regulatory framework gaps for gas distribution networks with decreasing natural gas demand in Germany.
Heliyon
December 2024
Fraunhofer Institute for Systems and Innovation Research ISI, Breslauer Str. 48, 76139 Karlsruhe, Germany.
German energy system studies, investigating the energy transition pathways to the set climate targets, depict a significant decrease in gas demand. This leads to a discussion about the long-term need of gas distribution networks. The discussion intensified with the war in Ukraine and the subsequent energy price crisis.
View Article and Find Full Text PDFImplications of accelerated and delayed climate action for Ireland's energy transition under carbon budgets.
NPJ Clim Action
November 2024
MaREI, the Research Ireland Centre for Energy, Climate and Marine, Environmental Research Institute, University College Cork, Cork, Ireland.
Limiting global warming requires the effective implementation of energy mitigation measures by individual countries. However, the consequences of the timing of these efforts on the technical feasibility of adhering to cumulative carbon budgets-which determines future global warming-are underexplored. Moreover, existing national studies on carbon budgets either overlook integrated sectoral interactions, path dependencies, or comprehensive demand-side strategies.
View Article and Find Full Text PDFThe 2024 report of the Lancet Countdown on health and climate change: facing record-breaking threats from delayed action.
Lancet
November 2024
Institute for Global Health, University College London, London, UK.
Article Synopsis
- The world is nearing the critical threshold of 1.5°C warming, with 2023 recording an average temperature rise of 1.45°C since pre-industrial times, leading to severe climate-related impacts.
- The Countdown collaboration, formed to assess the health impacts of climate change post-Paris Agreement, involves over 300 experts analyzing data and trends annually.
- The 2024 report highlights troubling increases in climate-related health risks, such as a staggering 167% rise in heat-related deaths among seniors, indicating worsening conditions affecting wellbeing globally.
A worldwide analysis of stranded fossil fuel assets' impact on power plants' CO emissions.
Nat Commun
August 2024
Goizueta Business School, Emory University, Atlanta, GA, USA.
Will power plants emit less or more CO in anticipation of stronger climate policies that would strand fossil fuel reserves? Here, using a worldwide data source on individual power plants' CO emissions and the value of countries' at-risk fossil fuel assets, we show that between 2009 and 2018, plants emitted more CO in countries where more assets would be devalued under a 1.5 °C scenario, which we theorize is due to these countries' regulatory leniency and plants' vested interest in long-term fossil fuel contracts. Although the extra amount of carbon emitted each year trigged by imperiled assets is relatively small, it would exhaust a sizable portion of the electricity sector's remaining carbon budget when added up over time.
View Article and Find Full Text PDFTransitioning Toward a Zero-Emission Electricity Sector in a Net-Zero Pathway for Africa Delivers Contrasting Energy, Economic and Sustainability Synergies Across the Region.
Environ Sci Technol
September 2024
Department of Mechanical Engineering, Cyprus International University, TRNC Mersin 10, Nicosia 99138, Turkey.
Although Africa contributes less than 5% to global greenhouse gas (GHG) emissions, its role in global climate action is pivotal. To date, 53 African countries have submitted their Nationally Determined Contributions (NDCs), and four have committed to a net-zero target. However, many of Africa's NDCs are vaguely expressed and without specific focus on explicit sectoral decarbonization targets.
View Article and Find Full Text PDFWant AI Summaries of new PubMed Abstracts delivered to your In-box?
Enter search terms and have AI summaries delivered each week - change queries or unsubscribe any time!