Offshore Wind
Offshore wind power is the generation of electricity through wind turbines located in bodies of water, typically in the ocean on the continental shelf. The kinetic energy of the wind turns the turbine blades, driving a generator to produce renewable electricity. Offshore wind farms benefit from stronger and more consistent wind speeds compared to onshore locations, leading to higher energy yields. They also face fewer obstacles, such as buildings and terrain, that can disrupt wind flow. Wind is an inexhaustible resource, making offshore wind power a sustainable and reliable source of electricity with zero direct carbon emissions. Advancing offshore wind power requires investments in maritime and grid infrastructure, innovative solutions for deep-water installations, policies that support offshore wind development, and international cooperation to share best practices and reduce environmental impacts.
Achieving the Paris Climate Agreement Goals Part 2: Science-based Target Setting for the Finance industry—Net-Zero Sectoral 1.5˚C Pathways for Real Economy Sectors
The One Earth Climate Model (OECM) began as a research project supported by One Earth between the University of Technology Sydney, the German Aerospace Centre, and the University of Melbourne in 2017. They were tasked with developing a detailed 1.5˚C GHG trajectory for ten world regions without the continued use of fossil fuels or unproven technologies like carbon capture and storage. The results of the first model made it clear that it is still possible to limit warming to 1.5˚C with a rapid transition to 100% renewable energy sources. However, the model did not yet have the granularity the financial sector needed to guide and benchmark net-zero investments. The book, Achieving the Paris Climate Agreement Goals Part 2: Science-based Target Setting for the Finance Industry — Net-Zero Sectoral 1.5˚C Pathways for Real Economy Sectors, is designed as a continuation of this group’s 2019 first edition, which focused on country-specific energy pathways. Decarbonization pathways have been developed for countries, regions, and communities, but never before for industry sectors in a detailed way. While the book consists of 400 pages of dense methodologies and calculations, its topline message is clear; in the words of the lead author Sven Teske, “ We can limit global warming to 1.5˚C with the technology pathways we describe... I would call it an action plan to save the future for our children and their children."