By DLA Piper's Maher Ghanma and Micael Johnstone
2016 saw the international community finally reach agreement for collective action on climate change with the rapid ratification and entry into force of the Paris Agreement. DLA Piper's Maher Ghanma and Micael Johnstone assess the impacts and opportunities that the transition to a low carbon future presents to businesses and policy-makers in the Middle East.
Andreas Wade, Global Director, First Solar
In recent months, news about the solar energy industry was dominated by headlines describing record-breaking tariffs, reflecting the fast declining price of solar electricity. And while the focus has been on the attractive economics of utility-scale solar, it is often taken for granted that solar energy is inherently environmentally sustainable and that its carbon credentials don’t require scrutiny.
By Henrik Poulsen, CEO, DONG Energy
More than 80 per cent of the world's energy supply comes from coal, oil and gas. There is a general consensus that CO2 emissions place a strain on our climate, yet our inability to set a proper price on these emissions means that it is still far too cheap to pollute. The costs of our inaction are already all too clear. At current emissions rates, the UN's Intergovernmental Panel on Climate Change expects that global temperatures will rise by two degrees compared to pre-industrial levels, even before 2040.
Andy Dewis, VP energy and sustainability services, Schneider Electric
With the ongoing dip in crude oil prices, it is natural to assume that utility prices would follow a similar, downward trajectory. Yet electricity prices remain stagnant.