Jul 25, 2018

Nippon Life Insurance to end coal power investment

Renewable Energy
Asia
Coal
Olivia Minnock
1 min
Japanese Life Insurance Company Nippon Life Insurance Co has announced it will stop lending and investment activity in coal-fired p...

Japanese Life Insurance Company Nippon Life Insurance Co has announced it will stop lending and investment activity in coal-fired power plants.

The decision is based on ‘environmental concerns’ according to Business Green and as such Nippon has become the first major Japanese investment company to divest from coal in this way.

According to Reuters, Yusuke Takaishi, deputy manager for finance and investment planning at Nippon, said: “We have decided to stop investment and lending to coal-fired power projects at home and overseas.

See also:

Ireland becomes first country to divest from fossil fuels

Allianz commits to eliminating insurance coverage for coal plants

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“There are discussions among institutional investors, mainly those in Europe and the US, on how to deal with the issue of climate change and we are part of those discussions. Our decision on coal power is just one result of our ongoing discussions on climate change and we are not just considering coal,” he added.

Business Green has reported that up to 50 Japanese corporates will join the R100 initiative, which outlines the aim to use solely renewable energy by 2050.

Nippon Life Insurance company is the largest Japanese life insurance company in terms of revenue. Headquartered in Osaka, the company was founded in 1889 and currently has around 70,000 employees.

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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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