Dec 12, 2017

AXA to increase investments in green projects to €9bn by 2020

Coal
Green Energy
Sophie Chapman
1 min
AXA to phase out coal and increase funding in green projects
The French insurance company, AXA, have committed to increasing its funding for green energy projects to €9bn (US$10.6bn) by 2020.

The French insurance company, AXA, have committed to increasing its funding for green energy projects to €9bn (US$10.6bn) by 2020.

The new target would quadruple the insurers current fund in environmentally-friendly projects.

“In 2015 AXA committed to reach 3 billion euros in green investments by 2020. Given that this target has already been reached, the Group has decided to quadruple its original target and reach 12 billion euros by 2020,” AXA commented.

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The company also plans to reduce its interest and disinvest in the coal industry, by targeting companies that obtain more than 30% revenue from coal.

This week France’s President, Emmanuel Macron, will be hosting a climate summit, according to Reuters.

During the summit he will press wealthier countries to increase financing in areas that deal with climate change, as well as encouraging investors to no longer fund polluters.

AXA also announced that they plan to no longer insure any new coal mines or oil sands projects, including associated pipeline businesses, as part of it’s bid to tackle climate change.

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May 13, 2021

All but two UK regions failing on school energy efficiency

schools
energyefficiency
Renewables
Dominic Ellis
2 min
Yorkshire & the Humber and the North East are the only UK regions where schools have collectively reduced how much they spend on energy per pupil

Most schools are still "treading water" on implementing energy efficient technology, according to new analysis of Government data from eLight.

Yorkshire & the Humber and the North East are the only regions where schools have collectively reduced how much they spend on energy per pupil, cutting expenditure by 4.4% and 0.9% respectively. Every other region of England increased its average energy expenditure per pupil, with schools in Inner London doing so by as much as 23.5%.

According to The Carbon Trust, energy bills in UK schools amount to £543 million per year, with 50% of a school’s total electricity cost being lighting. If every school in the UK implemented any type of energy efficient technology, over £100 million could be saved each year.

Harvey Sinclair, CEO of eEnergy, eLight’s parent company, said the figures demonstrate an uncomfortable truth for the education sector – namely that most schools are still treading water on the implementation of energy efficient technology. Energy efficiency could make a huge difference to meeting net zero ambitions, but most schools are still lagging behind.

“The solutions exist, but they are not being deployed fast enough," he said. "For example, we’ve made great progress in upgrading schools to energy-efficient LED lighting, but with 80% of schools yet to make the switch, there’s an enormous opportunity to make a collective reduction in carbon footprint and save a lot of money on energy bills. Our model means the entire project is financed, doesn’t require any upfront expenditure, and repayments are more than covered by the energy savings made."

He said while it has worked with over 300 schools, most are still far too slow to commit. "We are urging them to act with greater urgency because climate change won’t wait, and the need for action gets more pressing every year. The education sector has an important part to play in that and pupils around the country expect their schools to do so – there is still a huge job to be done."

North Yorkshire County Council is benefiting from the Public Sector Decarbonisation Scheme, which has so far awarded nearly £1bn for energy efficiency and heat decarbonisation projects around the country, and Craven schools has reportedly made a successful £2m bid (click here).

The Department for Education has issued 13 tips for reducing energy and water use in schools.

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