Global climate deal achieved: What does it mean for LM Wind Power?

    You’ve probably heard the news: On December 12th, afteralmost two weeks of negotiations at the United Nations Climate ChangeConference (COP 21), 195 nations came together to sign a global climate deal.The 31-page “Paris Agreement” represents the first time in history that all theworld’s nations have agreed to tackle climate change.

    Reaching a global consensus on this highly-debated topic is an achievement in itself. But, agreeing to take on climate change is only a first step; nations must now invest in solutions that decrease greenhouse gas emissions.

    With wind as one of the most attractive forms of clean and renewable energy on the market, how will this agreement impact LM Wind Power? Alexis Crama, VP Offshore Development and former head of Strategy, shares his view.

    A long term framework
    I read here and there mixed comments on the COP 21 outcome. On one side politicians, global institutions and organizations are applauding the deal; and on the other side some economists, investors and companies are expressing disappointment about lack of concrete measures to favor immediate investments.

    In my view we should reflect back on the problem we are all trying to solve together on this earth: limiting global temperature rise to prevent devastating damages. This is a long term goal requiring a long term solution and long term implementation plan. I think that COP 21 is a great outcome as it does establish a solid foundation and framework with a long term vision.

    Under the Paris Agreement, countries promise to:

    • Limit global temperature rise well below 2 degrees Celsius (and strive for 1.5 degrees Celsius
    • Recognize the need to cap greenhouse gas emissions to a peak, before heading towards "zero emissions" (emissions offset by natural carbon capture and sink in ocean and forests) in the second half of the century
    • Regularly review in an open and transparent way the level of progress to further raise country-specific contribution

    Getting 195 countries to align and sign-off on an approximately 100-year framework is a really strong and encouraging achievement! This establishes the foundation, objectives and principles for addressing climate change, which fuels other major challenges such as migration, poverty and successfully building democracies.

    Now for our business 

    Yes, we are getting impatient as we would like to start seeing business benefit tomorrow. And we still need to see how every country will translate the Paris Agreement into concrete implementation measures. But, we are starting to see steps among institutional investors, leading global utilities and top global companies with new large multi-billion dollar funding and new organizational structure change around renewable business — bold measures which will result in more private and public money poured into renewables.

    Bottom line: The long term framework is established, the implementation roadmap is being built and some specific concrete measures are materializing with the first set of additional funding and higher renewable targets coming. It's a beginning of a long journey. It will favor large, long term renewable investment for which utility scale offshore wind is one of the most promising solutions. Overall this is good news for our business, but we need to keep focusing on making this source of energy more affordable.

    We committed to the Paris Pledge for Action — an initiative intended as a political signal to demonstrate the breadth of support and scale of momentum for a transition to a low-emission and climate-resilient economy.

    The strongest contribution we can make is to continue to make wind energy more compelling through technological innovation, supply chain and manufacturing optimization and product reliability which will help make wind the most competitive source of renewable energy for the world. At the same time, we need to look at our own operations and work to minimize our impact, like we are doing with our Sustainability program.

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    19-01-2018 22:50:13 | twitter

    LM Wind Power

    Fast fact: An average wind turbine makes up for its carbon footprint within 5 to 8 months of operation! #windworks https://t.co/zWSWINoJPI
    12-01-2018 11:40:50 | twitter

    LM Wind Power

    Blades from @LMWindPower, turbines from @GErenewables, inspiration and drive from @DeepwaterWind - great project for #BlockIsland and US #offshore wind https://t.co/DrDBcryfUs
    10-01-2018 12:34:59 | twitter

    LM Wind Power

    News from Clean #Energy Industrial Forum #CEICIF: “We need to talk about 10-20 bn EUR in R&D to achieve massive benefits for all #electricity users through the lower costs, not 1-2 bn” – Marc de Jong @LMWindPower #EUbudget #CleanEnergyEU https://t.co/fwdvxBLjE6
    02-01-2018 08:43:55 | instagram
    For being such a good Santa last year, the renewable reindeer got him the latest carbon neutral sleigh on the market...see what they did next! From all of us at LM Wind Power, we wish you a happy, greener new year. #CleanSleigh! #LMplaces #lmwindpower #newyear #newyearsresolution #reindeer #santa #christmas #innovation #greenbusiness #wind #windworks #windturbine #windturbines #renewables #windpower #windenergy #renewableenergy #cleanenergy #beautiful #future #love #sustainability #CaseForWind
    27-12-2017 08:36:26 | twitter

    LM Wind Power

    12 can't miss moments from 2017 - We'll let the headlines speak for themselves... https://t.co/hgalcxDUJc
    27-12-2017 08:32:45 | linkedin

    LM Wind Power

    It’s not easy to summarize a year’s worth of dedication, teamwork, challenges and successes from more than 8,000 people, so we’ll let our top headlines speak for themselves!
    24-12-2017 14:00:33 | twitter

    LM Wind Power

    For being such a good Santa last year, the renewable reindeer got him the latest carbon neutral sleigh on the market...see what they did next! https://t.co/xujuyiM1y0 From all of us, Season's Greetings and a greener New Year. #CleanSleigh! https://t.co/OztRUswue5
    24-12-2017 14:00:05 | linkedin

    LM Wind Power

    For being such a good Santa last year, the renewable reindeer got him the latest carbon neutral sleigh on the market...see what they did next! From all of us at LM Wind Power, Season's Greetings and a greener New Year. #CleanSleigh!
    21-12-2017 13:20:01 | linkedin

    LM Wind Power

    In October 2017 our 73.5 P wind turbine blade successfully arrived at Castellón port from our factory located 45 km away. This is the largest blade ever produced and transported in Spain and will be used for harvesting wind at the Merkur wind farm in the North Sea! Check out the transportation of the 73.5 P blade here: http://fal.cn/q5Fl This historic achievement also features in the latest GE report below!
    21-12-2017 13:00:04 | linkedin

    LM Wind Power

    In October 2017 our 73.5 P wind turbine blade successfully arrived at Castellón port from our factory located 45 km away. This is the largest blade ever produced and transported in Spain and will be used for harvesting wind at the Merkur wind farm in the North Sea! Check out the transportation of the 73.5 P blade here: http://fal.cn/q5bE This historic achievement also features in the latest GE report below!