American Renewable Energy And Efficiency Act
American Renewable Energy And Efficiency Act – Renewable energy sources are at the heart of the transition to a sustainable energy future and the fight against climate change.
Historically, renewables have been expensive and lacked competitive pricing power compared to fossil fuels. But that has changed dramatically over the past decade.
American Renewable Energy And Efficiency Act
Fossil fuels still account for most of the world’s energy consumption, but renewables are not far behind. The share of global electricity from renewable sources will increase from 18% in 2009 to almost 28% in 2020.
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Renewable energy sources follow learning curves or Wright’s Law: they become cheaper by a fixed percentage for every doubling of installed capacity. Therefore, the use of clean energy has increased, reducing the cost of electricity from new renewable energy sources.
Solar PV and offshore wind farms have seen significant price reductions over the past decade. In addition, since the peak in 2008, the price of electricity produced by gas plants has fallen due to lower gas prices.
In contrast, coal electricity prices remained flat with a 1% increase. In addition, nuclear electricity has become more expensive by 33% due to increased regulations and a lack of new reactors.
With the cost of renewables falling, it is only a matter of time before renewables become our primary source of electricity.
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Many countries have committed to achieving net zero carbon emissions by 2050, and as a result, renewable energy sources are expected to account for more than half of the world’s electricity generation by 2050.
Details: Figures represent adjusted average energy costs per megawatt hour. Lazard’s adjusted energy cost report does not include hydroelectric data. Hydroelectricity is therefore excluded from this article.
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Data Stream Rankings: Top Cyber Attacks on Business The latest research provides insight into the top cyber attacks businesses will face in 2021. See the results in this infographic.
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Cyber attacks reached record highs in 2021 and continue to gain momentum during the Covid-19 pandemic. One of the reasons for this increase is the shift to remote work, which has opened up new vulnerabilities. Home networks are often less secure, and the rapid increase in the use of online services means that security is lagging behind.
In this chart powered by Global X ETF, we look at surveys that show the 10 most successful types of cyber attacks in 2021.
These findings come from a 2021 white paper by Osterman Research, a cybersecurity market research firm. They surveyed 130 cybersecurity professionals from mid-sized and large organizations to see which types of attacks matter most.
The report notes that these numbers may be understated because organizations may underestimate their security vulnerabilities. Organizations may not be able to detect all types of cyber attacks.
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Phishing refers to an attack in which the perpetrator impersonates a trusted party. These attacks can be carried out via email, text messages (SMS) and social media applications. The goal is usually to trick the victim into opening a malicious link.
According to the white paper, opening malicious links can lead to credential theft or ransomware infection. Credential theft occurs when attackers gain access to internal systems. This is extremely dangerous because it allows attackers to commit fraud, impersonate company officials, and steal data.
Multi-factor authentication (MFA) is a powerful tool to prevent credential theft. This method requires users to provide multiple authentication conditions to access resources (instead of a single password).
Ransomware is a type of cyber attack that is usually for profit. In order to successfully install ransomware, attackers must first gain access to corporate networks.
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As mentioned above, alternative ways can be found, such as phishing or corrupted software updates. One such attack affected more than 57,000 Asus laptop owners in Russia after hackers created a malicious update tool on official Asus servers.
Researchers warn that ransomware attacks are becoming more dangerous and sophisticated. In addition to locking organizations out of key systems, hackers also steal information to increase their influence. If the ransom is not paid, the stolen information may be released or even sold to the highest bidder.
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Businesses and governments are expected to increase spending on cyber security in the coming years to keep up.
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The Global X Cyber Security ETF is a passively managed solution designed for exposure to the growing adoption of cyber security technology. Click the link for more information.
The Biggest Corporate Hacks of 2021 2021 shows an alarming increase in the frequency and sophistication of corporate hacking. See this information for more information.
In this chart sponsored by Global X ETF, we’ve ranked the biggest business hacks of 2021 by ransom size. Full details are given below.
On May 7, hackers shut down the company’s billing system and threatened to release the stolen data if the ransom was not paid. During the negotiations, the company shut down the pipeline, creating a gas shortage in the southeastern United States.
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Colony Pipeline reportedly paid a ransom of $4.4 million in Bitcoin (based on current prices). The FBI was able to recover some of these bitcoins, but their exact method has not been disclosed.
Accenture, one of the world’s largest IT consulting companies, fell victim to a ransomware attack in August 2021. As ridiculous as it sounds, it shows that any business, regardless of industry, can be vulnerable to hackers.
“There was no impact on Accenture’s operations or our customers’ systems. As soon as we became aware of this threat, we removed the affected servers
The hack was discovered by LockBit and claims to have stolen several terabytes of data from Accenture’s servers. A ransom of $50 million was demanded, although it is unclear if the company actually paid.
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Kia America fell victim to a ransomware attack by the DoppelPimmer group in February. The hackers threatened to release the stolen data within 2-3 weeks if a ransom of $20 million (in bitcoins) was not paid.
The hack affected various systems, including the Kia Owner Portal, Kia Connect (a mobile app for Kia owners) and internal programs used by dealers. This also prevented buyers from taking delivery of their new cars.
Kia denied the theft, but the timing of the ransom and the interruption of Kia service were suspicious. According to the FBI, Doppelganger has been responsible for several attacks since 2020. Victims include police departments, community colleges and a hospital in Germany.
JBS, one of the world’s largest meat processors, experienced outages at its North American facilities in May. Soon after, the company confirmed that it had paid $11 million in Bitcoin ransom to the hackers.
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“It was a very difficult decision for our company and for me personally.” – Andre Nogueira, CEO, JBS USA
This attack, coupled with the colonial pipeline hack, represents an alarming trend in the targeting of critical industries. For context, JBS says it has an annual IT budget of more than $200 million and employs more than 850 IT staff worldwide. The group responsible for this attack is known as Revil, a now-defunct hacking group based in Russia.
The ever-increasing corporate hacking and sophistication is a major threat to the world. In fact, a recent PricewaterhouseCoopers survey found that 69% of companies expect cybersecurity spending to increase in the future.
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On August 10, 69 senators voted to approve the nearly $1 trillion Investment in Infrastructure and Jobs Act (IIJA), the top priority of the Biden administration and the largest investment in America’s “strong infrastructure.” The IIJA supports several climate priorities, but can do more to achieve the 2050 targets than the 2030 targets.
To some extent this is to be expected. Infrastructure investments are, by definition, long-term plays. While the law’s immediate impact on US emissions may be negligible, the long-term outlook is more promising, though far from guaranteed. As a green industrial strategy tool for the long-term economic transition to energy, the IIJA is undoubtedly an unprecedented step in the right direction. As a climatic strategy to satisfy fasting
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