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Danish power company Ørsted and Norwegian energy giant Equinor are spearheading the launch of international coalition to accelerate global offshore wind capacity and other ocean-based renewable energy technologies as part of an effort to mitigate the harmful impacts of climate change.
The Ocean Renewable Energy Action Coalition brings together civil society, intergovernmental institutions and industry to represent the offshore wind sector in the global dialogue on climate action.
According to the coalition, ocean-based renewable energy—such as offshore wind, floating solar, tidal and wave power—has the potential to meet nearly 10% of the annual greenhouse gas emissions reductions needed by 2050 to keep global temperatures in-line with the Paris Agreement goal of holding average global temperature rise to 1.5°C above pre-industrial levels, according to a report released by the High-Level Panel for a Sustainable Ocean Economy.
In addition to Ørsted and Equinor, the coalition also includes some of the leading players in offshore wind, including CWind, Global Marine Group, JERA, MHI Vestas, Mainstream Renewable Power, Shell, Siemens Gamesa, TenneT and The Crown Estate.
As of now, most of the development in ocean-based renewables is expected to come from offshore wind. The next step for the Coalition is to prepare a vision for 2050, highlighting the actions that industry, finance and governments can take to sustainably scale-up offshore wind. Initial outputs will be announced at the UN Ocean Conference in Lisbon in June 2020.
“If we’re serious about fighting the climate crisis, it’s vital we decarbonise the world’s energy use as quickly as possible through technologies like offshore wind. The Ocean Renewable Energy Action Coalition will work together to accelerate the opportunity presented by ocean renewables to achieve the Paris Agreement goals,” says Benj Sykes, vice president at Ørsted.
“Collaboration between nations and companies is needed to accelerate the sustainable deployment of ocean renewable energy. This Action Coalition includes leading industry players in offshore wind and we are working together to unleash the full potential of offshore wind globally,” says Stephen Bull, senior vice president for wind and low carbon at Equinor.
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