C-MACC Weekly “CRETER” (Climate etc.)
What we learned in 2022. Practice is much harder than theory
- As companies and governments have moved from plans to actions in 2022, progress has been slower and more expensive than many expected – so goes 2023.
- Inflation in critical materials and labor is driving rising renewable power and battery costs and this is likely to continue in our view.
- Projects will push ahead regardless but some premature moves – hydrogen hubs for instance – may drive inefficient spending – which we cannot afford.
- Meanwhile, Europe’s emission targets for 2023 could be met easily if there is not enough energy for many industries to operate, but this is bad for Europe.
- Otherwise, we look at bioplastics, projects that require CCS pushing ahead without permits, SPACs that are back, and Roubini’s predictions of climate gloom.
See PDF below for all charts, tables and diagrams
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