#helping to decarbonize one of the most challenging sectors in terms of greenhouse gas emissions.

[priteshwemarketresearch]

Green Ammonia Market Statistics, Segment, Trends and Forecast to  2033

The Green Ammonia Market: A Sustainable Future for Agriculture and Energy

As the world pivots toward sustainable practices, the green ammonia market is gaining momentum as a crucial player in the transition to a low-carbon economy. But what exactly is green ammonia, and why is it so important? In this blog, we'll explore the green ammonia market, its applications, benefits, and the factors driving its growth.

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What is Green Ammonia?

Green ammonia is ammonia produced using renewable energy sources, primarily through the electrolysis of water to generate hydrogen, which is then combined with nitrogen from the air. This process eliminates carbon emissions, setting green ammonia apart from traditional ammonia production, which relies heavily on fossil fuels.

Applications of Green Ammonia

Agriculture

One of the most significant applications of green ammonia is in agriculture. Ammonia is a key ingredient in fertilizers, and its sustainable production can help reduce the carbon footprint of farming. By using green ammonia, farmers can produce food more sustainably, supporting global food security while minimizing environmental impact.

Energy Storage

Green ammonia can also serve as an effective energy carrier. It can be synthesized when there is surplus renewable energy and later converted back into hydrogen or directly used in fuel cells. This capability makes it an attractive option for balancing supply and demand in renewable energy systems.

Shipping Fuel

The maritime industry is under increasing pressure to reduce emissions. Green ammonia has emerged as a potential zero-emission fuel for ships, helping to decarbonize one of the most challenging sectors in terms of greenhouse gas emissions.

Benefits of Green Ammonia

Environmental Impact

By eliminating carbon emissions during production, green ammonia significantly reduces the environmental impact associated with traditional ammonia. This aligns with global efforts to combat climate change and achieve sustainability goals.

Energy Security

Investing in green ammonia can enhance energy security. As countries strive to reduce their dependence on fossil fuels, green ammonia offers a renewable alternative that can be produced locally, minimizing reliance on imported fuels.

Economic Opportunities

The growth of the green ammonia market presents numerous economic opportunities, including job creation in renewable energy sectors, research and development, and new supply chain dynamics. As demand increases, investments in infrastructure and technology will drive innovation.

Factors Driving the Growth of the Green Ammonia Market

Regulatory Support

Governments worldwide are implementing policies and incentives to promote the adoption of green technologies. These regulations often include subsidies for renewable energy production and carbon pricing mechanisms, making green ammonia more competitive.

Rising Demand for Sustainable Solutions

With consumers and businesses becoming increasingly aware of their environmental impact, the demand for sustainable solutions is on the rise. Green ammonia aligns with this trend, providing an eco-friendly alternative to traditional ammonia.

Advancements in Technology

Ongoing advancements in electrolysis and ammonia synthesis technologies are making the production of green ammonia more efficient and cost-effective. As these technologies mature, they will further enhance the viability of green ammonia in various applications.

Conclusion

The green ammonia market represents a promising avenue for sustainable development across agriculture, energy, and transportation sectors. As technology advances and regulatory support strengthens, green ammonia is poised to become a cornerstone of the global transition to a greener economy. Investing in this market not only contributes to environmental preservation but also opens up new economic opportunities for innovation and growth.

[yonderh2]

Benefits of Using Hydrogen in Power Plants Compared to Fossil Fuels

As the world seeks cleaner and more sustainable energy solutions, hydrogen has emerged as a promising alternative to fossil fuels in power generation. A hydrogen power plant can play a critical role in reducing carbon emissions and advancing the transition to renewable energy systems. Below are some of the key benefits of using hydrogen in power plants compared to fossil fuels.

1. Zero Carbon Emissions

One of the most significant advantages of using hydrogen in power plants is that it produces zero carbon emissions when burned or used in fuel cells. Traditional power plants that burn fossil fuels like coal, oil, or natural gas release substantial amounts of carbon dioxide (CO₂), a major contributor to climate change. In contrast, hydrogen combustion only produces water vapor as a byproduct, making it a clean energy source.

Hydrogen power plants can help countries meet their climate goals by drastically reducing greenhouse gas emissions from the power sector.

2. Reduction of Air Pollutants

Fossil fuel-based power generation not only emits CO₂ but also releases harmful pollutants such as nitrogen oxides (NOx), sulfur oxides (SOx), and particulate matter. These pollutants contribute to air quality degradation, smog formation, and respiratory health issues. Hydrogen combustion, on the other hand, does not release these pollutants, providing a cleaner alternative for air quality improvement.

Transitioning to hydrogen power plants can reduce the environmental and public health impacts associated with fossil fuel combustion.

3. Energy Storage and Grid Stability

Hydrogen offers unique advantages in terms of energy storage and grid management. Renewable energy sources like wind and solar are intermittent, meaning they cannot generate electricity continuously. A hydrogen power plant can be used to store excess energy generated during periods of high renewable production. This hydrogen can then be used later to produce electricity, ensuring a reliable and stable power supply even when renewable generation is low.

Hydrogen serves as an effective energy storage solution, helping to stabilize the grid and balance energy supply with demand.

4. Decarbonization of Hard-to-Electrify Sectors

Certain industrial sectors and power generation applications are challenging to decarbonize using only electricity. Hydrogen offers a viable solution for these "hard-to-electrify" sectors, such as heavy manufacturing and long-distance transport. By using hydrogen in power plants, industries that are heavily reliant on fossil fuels can transition to cleaner energy sources.

Hydrogen power plants can help decarbonize sectors that are difficult to electrify, providing a broader impact on global emission reductions.

5. Energy Independence and Diversification

Hydrogen can be produced from a wide range of sources, including water, biomass, and natural gas, making it a versatile fuel option. It can also be produced using renewable energy through electrolysis, which offers a path to complete decarbonization. By diversifying the energy mix with hydrogen, countries can reduce their dependence on fossil fuels and enhance energy security.

Hydrogen power plants contribute to energy diversification, reducing reliance on imported fossil fuels and promoting domestic energy independence.

6. Long-Term Economic Benefits

While hydrogen infrastructure requires initial investment, it offers long-term economic benefits. As hydrogen technology becomes more widespread, costs are expected to decrease, making it a more affordable alternative to fossil fuels. Moreover, hydrogen power plants could stimulate job creation in green energy sectors, from manufacturing to maintenance.

Conclusion

The shift to hydrogen power plants offers substantial environmental and economic benefits compared to fossil fuel-based power generation. Hydrogen enables zero carbon emissions, reduces harmful air pollutants, provides a reliable energy storage solution, and plays a key role in decarbonizing difficult-to-electrify industries. As the world seeks cleaner energy solutions, hydrogen stands out as a critical tool in reducing the power sector's environmental impact while ensuring a stable and sustainable energy future.

[esgjuly]

Benefits of Net Zero Finance for Companies

As one of the leading Net Zero consultant, the timetable for getting to Net-Zero is shown in the above graphic. The shift to a net-zero planet is one of the most significant challenges humanities has ever faced. The global pandemic proves that we must drastically alter how we create, consume, and travel. The energy sector produces significant GDP income in both developed and developing nations. Investment in greener energy and replacing filthy coal, gas, and oil-fired power with electricity from renewable sources like wind or solar will significantly reduce carbon emissions. This will necessitate global transformational change, incremental transitional change, and education. Since achieving net zero emissions in the allotted period will be difficult, the "net" in net zero is essential. However, in addition to making significant and audacious cuts to emission objectives, we must accelerate investments in decarbonization infrastructure.

Being a Net Zero Consultancy, for net zero to be effective, there must be a long-term cultural shift that reduces greenhouse gas emissions from improper carbon dioxide storage or by minimizing forest fires. A Net Zero strategy entails decarbonizing every economic sector, from transportation to agriculture, and implementing strategies to reduce climate-damaging emissions. The following actions are part of the UK Net-Zero policy, which was released in October 2021: To cease selling brand-new gasoline and diesel vehicles by 2030. To offer financial assistance to homeowners converting from gas boilers to heat pumps or other low-carbon heating systems. Financial rewards to promote low-carbon farming practices among farmers. Related: Sustainable business strategy's risks and opportunities. On the route to Net-Zero 2050, where are we now. The amount that the government invests now needs to be increased.

In our role as Net Zero Carbon, Businesses must have a strategic plan of action for funding decarbonization investments, programs, and activities to bring about change within and throughout their ecosystem while optimizing costs and value sustainably for investors and shareholders if they are to meet net zero carbon targets. Projects should follow global sustainability standards, and businesses should ensure they collaborate with an impartial audit or advisory firm comprised of skilled experts. Companies need to ensure their operations and investments benefit the local community on a social and environmental level and are carbon-efficient. When greenhouse gas reductions or offsets balance corporate residual emissions, significantly reducing carbon emissions along the entire value chain must reach net zero. Businesses can use carbon offsets or removals to achieve net zero after maximizing abatement

To help you as Net Zero, the present national climate plans of all 193 Parties to the Paris Agreement combined indicate that 2030 global greenhouse gas emissions will have significantly increased from 2010 levels by approximately 14%. All nations, particularly the largest emitters, need to drastically raise their Nationally Determined Contributions (NDCs) and swiftly reduce emissions. The Glasgow Climate Pact called for all countries to increase their 2030 commitments by the end of 2022. In the UK, low-carbon initiatives received only roughly £10 billion in public and private investment in 2020. According to the independent Climate Change Committee, net-zero investments in renewable energy, transportation, and construction must reach £50 billion annually by the late 2020s to achieve net-zero status by 2050.Crucially, there will be significant cost savings as well.

As a Net Zero consultant, this more substantial investment (capital expenditure) will be compensated by reductions in routine spending (operational expenditure) by the late 2030s, mainly due to electric cars' increased efficiency. Other analyses have generally arrived at similar conclusions. A little over £10 billion annually. This translates into savings of about £1.1 trillion and costs of about £1.4 trillion. Global governments must spearhead large investment projects, but the private sector will handle most of the funding and implementation. Ordinary people will also need to push change by cutting back on their spending and investments in non-carbon-friendly goods and services. The CCC states that it is improbable that governments will supply the lion's share of the money needed to support the private sector. To produce future economic gains, the decarbonization investment and cover expenses currently need to be demonstrated.

[cleanwaterchronicles]

2023 Michigan State of the Great Lakes Report

The Office of the Great Lakes (OGL) in the Michigan Department of Environment, Great Lakes, and Energy (EGLE) prepares the Michigan State of the Great Lakes Report for the Legislature each year on behalf of the governor. The report focuses on accomplishments, challenges, initiatives – and, yes, numbers – related to the lakes and freshwater resources and ecosystems.

Here’s a sampling of numerical facts and figures from the latest report, released at the end of 2023:

17% increase in annual precipitation: The amount measured in the Great Lakes region since 1951. Climate models project the region will see a greater increase in total precipitation than most other regions in North America. EGLE’s Water Resources Division responded in fall 2023 with a new Climate Change Implementation Plan to increase the resiliency of Michigan’s water infrastructure.

20 invasive carp: A risk assessment finds that as few as 10 males and 10 females in the Great Lakes could establish a reproducing population. Michigan supports a planned barrier system to prevent entry by carp through the Chicago Area Waterway System.

52% greenhouse gas reduction: The MI Healthy Climate Plan interim 2030 goal for reducing greenhouse gas emissions from 2005 levels on the way to carbon neutrality by 2050. The strategy includes conserving 30% of Michigan’s land and water by 2030. The Michigan Department of Natural Resources and partners including the Sault Tribe of Chippewa Indians and The Nature Conservancy held a fall 2023 summit on this “30 by 30” strategy.

54 Beneficial Use Impairments (BUI): The number remaining in Michigan’s polluted Areas of Concern (AOC). In May 2023, restoration of two BUIs in the Muskegon Lake AOC moved Michigan past the halfway point toward restoring 111 BUIs in the state’s 14 original AOCs. A “moonshot” goal targets 2030 for completing most of the work to delist Michigan’s 11 remaining AOCs.

55 years of international bonding over lakes: In November 2023, Michigan and Japan’s Shiga Prefecture Government – sister states since 1968 – presented together at the 19th World Lake Conference at the International Policy Forum in Hungary on fostering the next generation of water stewards, workers, and leaders.

80 plus public harbors and marinas: Facing challenges such as fluctuating water levels, aging infrastructure, and economic shifts, these facilities can benefit from the updated Sustainable Small Harbors Tools and Tactics Guidebook by OGL, Michigan Sea Grant, and partners.

100% water service line replacement: The City of Benton Harbor reached this milestone in October 2023 when it finished replacing more than 4,500 lead water lines serving residents. It’s one of many infrastructure improvements financed with assistance from through the state’s MI Clean Water Plan.

1,200-foot lock: The newest ship passage under construction at the Soo Locks will accommodate the largest freighters on the Great Lakes, helping to ensure uninterrupted iron ore shipments that fuel the U.S. economy.

$100,000 water conservation study: The OGL allocated funding for a study to identify innovations in water conservation best practices that can benefit Michigan’s water sectors and support long-term water resource sustainability. EGLE awarded the Alliance for Water Efficiency an $89,648 grant to carry out the project.

$506,000 maritime grant program: The Fresh Coast Maritime Challenge program Gov. Gretchen Whitmer announced in April 2023 awarded its first round of grants to six companies planning to decarbonize and electrify Michigan marinas and watercraft.

$7.1 million for groundwater data: The state’s competitive Information Technology Investment Fund supports a planned Groundwater Data Management System to improve understanding of groundwater science in the Great Lakes region, increase transparency in water use decisions, and raise awareness of the importance of data and the value of good stewardship.

$7.2 million plus for Ox Creek: Grant support continues to grow for restoring and redeveloping the Ox Creek corridor in and around Benton Harbor. Local leaders have teamed up with county, regional, academic, federal, and state partners including the OGL to create a vibrant, healthy corridor with trails and bridges, commercial development, housing opportunities, and more.

$15 million for smart agriculture: Michigan’s bipartisan 2024 budget includes funding to support soil health and climate-smart and regenerative agriculture that can help reduce phosphorus runoff that feeds harmful algal blooms in western Lake Erie. The goal is a 40% reduction in phosphorus by 2025 under an agreement by Michigan, Ohio, and Ontario.

$30 million plus for fish hatcheries: The bipartisan 2023 state budget included funding for maintenance in six hatcheries among fisheries management measures to support Michigan’s multibillion-dollar sport fishery.

$932 million plus in water infrastructure projects: Loans from state revolving funds backed 71 wastewater, stormwater, and drinking water infrastructure projects in fiscal year 2023, compared with $352 million and 29 projects just two years earlier. The Clean Water State Revolving Fund has allocated over $6.3 billion to more than 700 projects since 1988, and the Drinking Water State Revolving Fund has allocated over $1.8 billion to more than 420 projects since 1998.

Learn more about support for Michigan’s Great Lakes and water resources on the OGL’s webpage.

Source: EGLE Newsroom

[orbemnews]

28economy-briefing Daily Business Briefing May 28, 2021Updated  May 28, 2021, 8:19 a.m. ET A worker at a JD.com distribution center. JD Logistics, the company’s supply chain division, raised $3.1 billion Friday in an initial public offering in Hong Kong.Credit…Thomas Peter/Reuters JD Logistics, a supply chain unit of JD.com, the big Chinese internet retailer, raised more than $3.1 billion in a share listing in Hong Kong on Friday, the latest Chinese company to raise money in a record-breaking year for the city’s stock exchange. Investors were watching the initial public offering to gauge whether there was still an appetite for splashy debuts by Chinese internet companies at a time when the technology industry is facing intense regulatory scrutiny from Beijing. The scrutiny did not appear to bother traders, who sent the stock up by as much as 18 percent during its first day of trading on the Hong Kong stock exchange. But the stock pared most of those gains during the session, and closed 3.3 percent higher than its listing price, at 41.70 Hong Kong dollars, or $5.37. The offering by JD Logistics, which helps JD.com provide same-day and next-day delivery for tens of thousands of counties and towns in China, valued the company at $4 billion, making it the third-largest share offering in Hong Kong this year. Beijing has imposed record fines on some of China’s biggest internet companies like Alibaba as regulators try to tame the power and anticompetitive nature of the country’s most popular and ubiquitous technology companies. On Friday, Yu Rui, the chief executive of JD Logistics, addressed the regulatory scrutiny and said the company would use the money it had raised to improve its ability to serve smaller cities and pursue overseas markets. Some of the company’s biggest shareholders are Blackstone, the Wall Street private equity firm; Temasek, Singapore’s sovereign wealth fund; and the hedge funds Tiger Global and Oaktree. Read more President Biden’s $6 trillion budget will be officially released on Friday. The White House is relying on historically low interest rates to argue for major investments to combat climate change and reduce income inequality. Credit…Doug Mills/The New York Times The whirlwind trading of small retail investors who concentrate on driving up the share price of a handful of companies energetically returned to markets this week. Shares in AMC, the movie theater chain, surged more than 20 percent in premarket trading and was the most traded stock on Friday morning as traders pounced on the company’s stock. The trading is reminiscent of the GameStop frenzy in January. One of the aims of the retail traders is to push up a company’s share price to force losses on hedge funds that have bet against the stock in what is called a short squeeze. AMC shares have jumped 120 percent this week, to $26.52, giving the company a market value of $13 billion. At the end of 2019, before AMC became a “meme stock” darling like GameStop, the video game retailer, and Blackberry, the phone company, the share price for AMC was about $2. GameStop shares have risen 44 percent this week. AMC Entertainment share price United States U.S. stock futures rose on Friday. The S&P 500 is set to rise 0.4 percent when markets open. It has already climbed more than 1 percent this week and is less than 1 percent away from a record high. Stock prices have been kept by buoyant by expectations of ample federal spending and low interest rates. President Biden will propose a $6 trillion budget on Friday, according to documents obtained by The New York Times. The budget will finance Mr. Biden’s two-part plan to upgrade American infrastructure and expand the social safety net, contained in his American Jobs Plan and American Families Plan. Data coming on Friday is expected to show that a measure of inflation jumped in April. The Bureau of Economic Analysis’s personal consumption expenditure inflation measure probably rose 2.9 percent, according to economists surveyed by Bloomberg. It would be the highest reading since the early 1990s. The inflation index, which is closely watched by the Federal Reserve, is expected to rise sharply because of the effect of a drop in prices last year. But the jump is likely to continue the focus by policymakers and investors about how long this increase in inflation will last. Europe Most European stock indexes were higher after a measure of economic confidence in the European Union climbed to its highest level since early 2018. The Stoxx Europe 600 rose 0.6 percent, gaining for a seventh consecutive day to a record high. Read more A Texmark refinery plant in Galena Park, Texas, has been retrofitted to refine renewable jet fuel.Credit…Christopher Lee for The New York Times The worst of the pandemic may be over for airlines, but another crisis looms for the industry: an accounting over its contribution to climate change. There’s growing pressure to do something to reduce and eventually eliminate emissions from travel, but that won’t be easy, The New York Times’s Niraj Chokshi and Clifford Krauss report. Some solutions, like hydrogen fuel cells, are promising, but it’s unclear when they will be available, if ever. That leaves companies with few options: They can make tweaks to squeeze out efficiencies, wait for technology to improve or invest today to help make viable options for the future. “It’s a big crisis, it’s a pressing crisis — a lot needs to be done soon,” said Jagoda Egeland, an aviation policy expert at the International Transport Forum, a unit of the Organization for Economic Cooperation and Development. “It’s a hard-to-abate sector. It will always emit some carbon.” Experts say commercial air travel accounts for about 3 to 4 percent of total U.S. greenhouse gas emissions. Planes become more efficient with each new model, but growing demand for flights is outpacing those advancements. The United Nations expects airplane emissions of carbon dioxide, a major greenhouse gas, to triple by 2050. Some researchers say emissions may grow even faster. Investors are pushing businesses to disclose more about their efforts to lobby lawmakers on climate issues, too. There has been some progress: Some large corporations, whose employees crisscross the globe and fill plush business class seats, are reviewing travel budgets to reduce expenses and emissions. A recently announced United Airlines deal will result in the airline’s buying about 3.4 million gallons of sustainable fuel this year. And in France, lawmakers are considering a ban on short flights that can be replaced by train travel. Someday, hydrogen fuel cells and synthetic jet fuel could help to decarbonize the industry, and pilot projects have already begun, mainly in Europe, where Airbus says it plans to build a zero-emission aircraft by 2035. But renewable jet fuel has its limits, too. Despite the challenges, Scott Kirby, the chief executive of United Airlines, is optimistic that investments in alternative fuels and carbon capture technology will yield a breakthrough. “In the near term, it’s about getting them to work economically,” he said. “Once you cross that threshold, you will have an exponential increase.” Read more Fuel holding tanks at Colonial Pipeline’s Dorsey Junction Station in Woodbine, Md. this month.Credit…Drew Angerer/Getty Images The Biden administration will require the nation’s pipeline companies to report to the government any time they are hit with a significant cyberattack, and to create 24-hour emergency centers for such episodes, Alejandros N. Mayorkas, the secretary of homeland security, said Thursday morning. The move is the first of several, administration officials said Wednesday night, to address the lessons of the Colonial Pipeline ransomware attack this month, which forced Colonial to shut off the systems that send gasoline and jet fuel to nearly half of the East Coast. But based on the details released by people familiar with the order, it does little to solve the central problems that were revealed by that attack. The new requirement will essentially assure that the pipeline companies always have at least one employee with some cybersecurity training monitoring their systems, though it is unclear what that employee would be empowered to do other than raise an alarm. The order also sets a 30-day period to “identify any gaps and related remediation measures to address cyber-related risks” and report them to the Transportation Security Administration and the Cybersecurity and Infrastructure Security Agency. But the gaps identified in the Colonial ransomware attack most likely would not have been anticipated by any such review, many experts note. And the company’s intense secretiveness in dealing with the government during the episode — including its decision to pay the ransom — was a source of constant frustration to government officials. Read more Video transcript Back transcript Senate Republicans Unveil $928 Billion Infrastructure Bill Republican senators outlined a $928 billion infrastructure proposal to counter President Biden’s plan. Their plan involves unused coronavirus aid, and focuses on rebuilding roads and bridges. “We are looking at today as a $928 billion package over eight years. It sticks to the core infrastructure features that we talked to initially. It’s a serious effort to try to reach a bipartisan agreement. The president said to me and us in February that he was really agnostic as to whether we passed a bunch of small bills or one large bill. And we’ve heard him say inaction is not an option for him. We’ve now passed two of the smaller — and actually the surface transportation hasn’t gone out of the full Senate yet — but it is a major anchor to this piece of legislation. And so I think that shows that there’s a real hunger for bipartisanship in the United States Senate. There’s a real ability to achieve that. And we’re hoping that this moves the ball forward.” “This is of substance and significance, what we’re bringing forth today. And it’s what people at home in Wyoming think of as infrastructure. It’s, you know, roads with potholes that need to be fixed.” Republican senators outlined a $928 billion infrastructure proposal to counter President Biden’s plan. Their plan involves unused coronavirus aid, and focuses on rebuilding roads and bridges.CreditCredit…Shawn Thew/EPA, via Shutterstock Senate Republicans on Thursday proposed spending less that one seventh of what President Biden has requested in his expansive $1.7 trillion infrastructure initiative, countering with $257 billion in new funding for roads, bridges and other public works. The narrow scope of the plan, which Republicans said would amount to a total of $928 billion over eight years when paired with existing programs — $1.4 trillion short of Mr. Biden’s proposal of new funds — illustrated the long odds that negotiations will yield a workable bipartisan compromise. The latest Republican plan contains another probable deal breaker: They suggest paying for much of their proposal by repurposing funds from the $1.9 trillion pandemic relief law, an approach that White House officials have repeatedly rejected. Instead, Mr. Biden has proposed large tax increases on corporations and wealthy taxpayers to pay for his much larger package, a prospect that Republicans, in turn, have refused even to consider. “I haven’t had the chance to go over the details” of the counterproposal, Mr. Biden told reporters Thursday before boarding Air Force One to visit Cleveland. The president said he had spoken with Senator Shelley Moore Capito of West Virginia, one of the lead authors of the Republican plan, and planned to meet with negotiators next week, adding that he wanted to see a bill “done” soon. But his spokesman, Jen Psaki, while careful to praise the work of Ms. Capito and her allies, cast doubt on whether their comparatively small spending plan would ultimately pass muster. White House officials “remain concerned that their plan still provides no substantial new funds for critical job-creating needs, such as fixing our veterans’ hospitals, building modern rail systems, repairing our transit systems, removing dangerous lead pipes, and powering America’s leadership in a job-creating clean energy economy, among other things,” Ms. Psaki said in a statement. The White House also signaled a willingness to pursue talks into early June, when Congress returns from a Memorial Day recess, even as officials expressed concerns about the package’s narrow scope and its intention to repurpose pandemic relief funds. The quartet of Republicans who proposed the latest plan includes Ms. Capito, Senators Patrick J. Toomey of Pennsylvania, Roy Blunt of Missouri and John Barrasso of Wyoming. The group said the proposal was proof their party was negotiating in good faith on an infrastructure deal. They had initially presented a $568 billion plan for five years’ worth of overall spending, which also contained only a fraction of new spending; the outline presented on Thursday included about $70 billion more. “We believe that this counteroffer delivers on what President Biden told us in the Oval Office,” Ms. Capito said, referring to a private meeting the senators attended with the president earlier this month. “It sticks to the core infrastructure features.” Still, optimism for a bipartisan deal on infrastructure has dwindled despite an exchange of offers between the administration and Republicans, who have continued to object to Mr. Biden’s ambitions for the scope and size of a package. White House officials have expressed frustration with lawmakers’ reluctance to significantly increase the amount of new spending. Several Democrats, wary of losing valuable time to act on their key priorities, are urging leaders to abandon the bipartisan talks and use the fast-track budget reconciliation process to advance the legislation, protecting it from a filibuster and allowing it to pass with a simple majority. A bipartisan group of senators is also quietly discussing their own proposal as a fallback option should talks between Republican senators and the White House collapse. The Senate Environment and Public Works Committee also unanimously advanced on Wednesday a $304 billion reauthorization transportation bill, an effort that Ms. Capito said was “a major anchor” for a bipartisan accord. Read more Video transcript Back transcript Top Finance Executives Testify on Economic Recovery and Oversight Executives at major financial institutions testified for a second day to Congress about how they were helping aid economic recovery. “We are living through unprecedented times, which history will judge the leaders of government and industry by actions we take to address the health and economic crises, and longstanding structural inequities. At JPMorgan Chase, we entered this crisis from a position of strength and leveraged our size and scale to contribute to the stability in our country and ongoing support for the real economy — our customers, employees and communities impacted by the global crisis. In 2020, we extended credit and raised capital totaling $2.3 trillion for customers and businesses of all sizes, helping them meet payroll, avoid layoffs and support operations. We waived fees and delayed payments on about three million accounts for customers who said they were affected by Covid with no questions asked.” “At Citi, we recognize this has been an incredibly challenging time for Americans, millions of whom we’re very proud to call our customers. The origins of this global crisis are very unlike the last one. This is a public health crisis with severe economic consequences for many. Through the pandemic, Citi has shown we are a very different bank than the one that entered the financial crisis more than a decade ago. We’re smaller, but we’re safer, we’re stronger and we’re far less complex. We have had the financial resources to support our clients and communities through Covid, and we’re laser-focused on driving a sustainable and an equitable recovery. I’ll always be proud that we were the first bank to provide relief programs for retail and small business customers in the U.S.” “In our institutional business, we’re a financial adviser to companies. We help them raise debt and equity capital, from taking companies public to helping them issue bonds so they can grow and create jobs. We help public-sector entities raise municipal financing. We help pension funds, mutual funds and other financial institutions trade and manage assets.” Executives at major financial institutions testified for a second day to Congress about how they were helping aid economic recovery. A day after testifying to the Senate Committee on Banking, the chief executives of the six largest banks faced a second round of questioning from lawmakers on Thursday in an hourslong hearing before the House Committee on Financial Services. Some of the lawmakers’ questions on topics like overdraft fees echoed Wednesday’s Senate hearing. Others questioned executives for their views on financial regulation. David Solomon, the chief executive of Goldman Sachs, said he believed more disclosure was needed on special purpose acquisition companies, the blank-check firms known as SPACs that have become a Wall Street favorite for bypassing the traditional public offering process. “I think there’s an opportunity for more plain language disclosure, so that investors really understand the sponsorship economics in plain clear language, and they also understand the process,” Mr. Solomon said. Mr. Solomon also said there were “opportunities to think carefully” about disclosure and liabilities in a typical I.P.O. process. Jamie Dimon, the chief executive of JPMorgan Chase, called for more regulation of cryptocurrencies, noting that the bank will offer some forms of digital currency as clients demand them. “My own personal advice to people is stay away from it — that does not mean the clients don’t want it,” he said. Lawmakers also questioned Mr. Dimon and Jane Fraser, Citigroup’s chief executive, about the banks’ resistance to conducting racial equity audits, as urged by some investors. Nearly 40 percent of JPMorgan shareholders said they were in favor of a racial equity and audit report at a recent shareholders’ meeting, but Mr. Dimon said he did not believe one was necessary. Mr. Dimon highlighted the investments the firm has made and committed toward racial equity, a mission to which he said the firm is “devoted.” “That is completely different than the bureaucracy and B.S. of having outside orders come in to certify something,” Mr. Dimon said. “If there are best practices that we can learn from, we’ll learn from them, but this kind of thing is not going to make it much better over time — it just adds a whole layer of unnecessary cost.” Citi shareholders recently voted down a proposal that would have required the company’s board to oversee a racial equity audit. “We didn’t think it was needed to have a separate audit,” Ms. Fraser said of that proposal, which was pushed by CtW, an adviser to union pensions. “But it is something that we’re looking at again given it was brought up by our shareholders.” Read more Administering a dose of the Pfizer vaccine at a center in Montigny-le-Bretonneux, near Paris, in April.Credit…Dmitry Kostyukov for The New York Times The mysterious London public relations agency sent its pitch simultaneously to social media influencers in France and Germany: Claim that Pfizer’s coronavirus vaccine is deadly and that regulators and the mainstream media are covering it up, the message read, and earn thousands of euros in easy money in exchange. The claim is false. The purported agency, Fazze, has a website and describes itself as an “influencer marketing platform” connecting bloggers and advertisers. But when some of the influencers tried to find out who was running Fazze, the ephemeral trail appeared to lead to Russia. “Unbelievable. The address of the London agency that contacted me is bogus,” Léo Grasset, a popular French health and science YouTuber with more than one million followers, wrote on Twitter on Monday. “All the employees have weird LinkedIn profiles … which have been missing since this morning. Everyone has worked in Russia before.” Mirko Drotschmann, a German health commentator with 1.5 million YouTube subscribers, said in a tweet that the P.R. agency had asked if he wanted to be part of an “information campaign” about Pfizer deaths in exchange for money. After doing some research, he concluded: “Agency headquarters: London. Residence of the C.E.O.: Moscow.” Their responses prompted two other social media influencers to come forward and say that they, too, were approached last week with the offer of a “partnership” to criticize the Pfizer-BioNTech vaccine. One was offered 2,000 euros, about $2,400. It’s uncertain how many influencers received the solicitations, or if any acted on them. And it’s not at all clear that there ever was a Fazze agency. Within hours of the questions on social media, the employee profiles on the agency’s LinkedIn account had disappeared, and someone scrubbed its Facebook page blank. Its Instagram account was made private. Its website offers no way to contact the company. The French health minister, Olivier Véran, denounced the operation on Tuesday, calling it “pathetic and dangerous.” He did not elaborate on whether the government was investigating the matter. Read more Source link Orbem News #28economybriefing

[sciencespies]

Here's how 6 countries are stepping up to meet the Paris climate goals

https://sciencespies.com/environment/heres-how-6-countries-are-stepping-up-to-meet-the-paris-climate-goals/

Here's how 6 countries are stepping up to meet the Paris climate goals

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World leaders are gathering in New York for Monday’s Climate Action Summit. The summit’s goal, according to United Nations Secretary-General Antonio Guterres, is to encourage countries to get serious about climate change.

“Don’t come with a speech,” Guterres has warned. “Come with a plan.”

So far, international efforts have fallen short. Four years after the Paris climate accord was inked, countries’ promises to reduce greenhouse gas emissions remain too weak to meet the agreement’s goal of limiting global warming to “well below” 2 degrees Celsius. By the end of the century, temperatures are expected to rise by 3.2 degrees compared to preindustrial times if current policies aren’t strengthened, according to a new estimate from the Climate Action Tracker.

But that doesn’t mean countries haven’t made any progress. A handful of nations have managed to drive down their emissions—and some have made great strides in specific areas.

Now, experts say, it’s time for everyone to up their game when they submit their next round of climate commitments in 2020. (You can follow the latest Paris pledges at the World Resources Institute’s Climate Watch.)

As the summit kicks off, here’s a look at six countries that have already taken meaningful action on climate change, and how they did it.

India

India ranks second in the world in population and third in greenhouse gas emissions (fourth if you count the European Union as a single country). But it is also at the top of two other lists: it is one of the few countries on track to fulfill its climate pledge under the Paris agreement, and one of fewer still whose commitment is consistent with holding warming to 2 degrees C.

Much of India’s success is due to its enthusiastic embrace of solar energy.

In 2010, the country established the National Solar Mission, which set out to add 20 gigawatts of solar capacity by 2022. The country surpassed that goal back in 2018 and is now set to exceed its Paris pledge to supply 40% of the nation’s energy needs with non-fossil-fuel power by 2030.

India accomplished this by implementing a range of pro-solar policies, like mandating that utilities purchase solar energy, and by launching programs to expand off-the-grid solar power, bringing electricity to many villages in the process.

Plummeting prices for solar panels have greased the wheels, as has the low cost of labor in India. The government also helped by auctioning off contracts, creating competition among developers. These factors have combined to make India’s solar power the cheapest in the world.

India has more work to do, experts say. Most of its electricity still comes from coal-fired plants, and the country continues to commission new ones, albeit fewer than it planned a few years ago, before the solar explosion. But observers say it is a model for incentivizing the rapid spread of renewables.

Other countries leading the way in expanding renewable energy are Morocco, Germany, Japan and the U.S. – particularly California.

Norway

Like the other Scandinavian countries, Norway takes climate change seriously. It has committed to reducing its emissions 40% by 2030 and aims to reach “net zero” emissions by 2050. But Norway’s biggest claim to fame is its aggressive effort to clean up its transportation sector.

As of 2017, electric cars and plug-in hybrids accounted for half of the new cars sold in the country. And in March of this year, electric cars alone made up almost 60% of new car sales. By 2025, the government wants that number to be 100%.

“They have been way out ahead,” said Taryn Fransen, a senior fellow in the global climate program at the World Resources Institute.

The government provides generous incentives for electric vehicles, such as waiving some of its famously high taxes and providing owners with plenty of perks, like electric-only parking lots in cities. Norway has also invested in vehicle charging infrastructure and supplies most of its electricity with clean hydropower.

To meet its climate goals, however, the country will have to grapple with its industrial emissions and wean its economy away from oil, a leading export.

China has also invested heavily in low-carbon transportation. By sheer numbers, it is the largest electric car market in the world, and it owns 99% of the world’s electric buses. There, the motivation is partly to clean up urban air quality and spur domestic innovation.

California deserves a nod too, said Niklas Hoehne, a partner at the New Climate Institute, one of the organizations behind the Climate Action Tracker.

The rest of the world will benefit from the leadership of these governments, Hoehne said: With this new demand, “technology becomes cheaper, and other countries can follow suit.”

United Kingdom

Among developed countries, many experts point to the United Kingdom as a leader. Its greenhouse gas emissions have declined steadily since 1990, and they have now fallen by more than 40% – to levels not seen since the turn of the 20th century. That’s more than enough to do its part to meet the European Union’s commitment under the Paris accord.

What really sets the U.K. apart, however, is its robust climate policy. “It’s one thing to have a target, and it’s another thing to have a legislative framework to achieve it,” Fransen said.

In 2008, the U.K. passed the Climate Change Act, a sweeping law that set the country on a path toward decarbonizing its economy. It included a suite of policies, from phasing out coal to strengthening efficiency standards for buildings.

Perhaps the most important thing about the law, experts say, is that it sets both short-term and long-term emissions reduction targets. It also created an independent scientific commission to determine what those goals should be and evaluate the country’s progress.

“That’s why it’s stable over different governments,” Hoehne said.

Indeed, despite the considerable political chaos the U.K. has endured in recent years, its climate ambitions have not wavered. In fact, this year the country passed a measure requiring its emissions to reach net zero by 2050—making it the first nation with a legally binding commitment to do so. That would be consistent with limiting warming to 1.5 degrees, Hoehne said.

“There is an end to fossil fuels in the U.K. and everybody can now plan with this vision,” he said.

As always, there are areas where the country could improve, he said. Emissions from cars rose last year, and some say the government isn’t doing enough to promote renewable energy.

Gambia

Gambia is a small country, and it has played almost no role in contributing to climate change. For perspective, Los Angeles emits more in a few months than the entire nation of Gambia does in a year.

But like many poor countries, the West African nation stands to suffer in a warming world because of sea level rise, drought and other stresses. And it is already dealing with its own development challenges; about half of its population lives in poverty.

The plight of developing nations—and the difficulties they face in decarbonizing quickly—has been a sticking point in international climate negotiations since they began in the 1990s. There is now general agreement that poor countries should not be held to the same benchmark as rich ones, which must swiftly reduce their emissions to zero to meet the goals of the Paris accord. Instead, each country should be expected to do its fair share to address the problem.

In the case of Gambia, “what is considered fair for them is to still increase their emissions a little bit, and that’s what they are proposing,” Hoehne said.

In its Paris pledge, Gambia has committed to slowing the rate at which its emissions will rise. By 2030, they will be 2.7% lower than they would have been in a business-as-usual scenario.

Even with its emissions increasing, Gambia is one of only a few countries whose plans are consistent with holding global warming to 1.5 degrees Celsius, according to the Climate Action Tracker. (Morocco and the U.K. are other leaders.)

A 20-megawatt solar power facility is currently under development, which will increase the country’s electricity supply by 20%.

And last year, the government rolled out a plan to restore large areas of forest, mangroves and savanna that will suck up carbon dioxide. It estimates that roughly 50,000 households will benefit from improved water quality and healthier landscapes.

For these projects, Gambia is relying on funding from the World Bank, the Green Climate Fund and other international partners. If the country can secure more funding, it has pledged to get its emissions to 45% below the business-as-usual benchmark by 2030.

Switzerland

Switzerland consistently ranks highly for its efforts to address climate change. Its emissions have been declining since the 1970s. And in recent years, it has pursued policies that might appeal to lawmakers in the U.S. – namely, voluntary programs and market-based measures.

For example, Switzerland was an early adopter of a carbon tax (Sweden was first in 1990). The levy, as the Swiss prefer to call it, was imposed in 2008, and as of 2018, it charged $96 per ton of carbon dioxide. (For comparison, the price on California’s cap-and-trade market is about $15.)

Most of the carbon tax revenue—which totals $300 million—is returned to citizens, including as subsidies to workers in industries that are negatively affected by climate policies. About a third goes to improving the efficiency of buildings and to R&D for clean technologies.

Like the U.K.”s climate legislation, the levy provides a stable, long-term incentive to reduce emissions, Hoehne said. But carbon taxes alone have not been enough to drive emissions down to where they need to be. “They are not sufficient,” he said.

Greenhouse gas emissions in Switzerland

Some sectors of the economy, like cars, don’t seem to respond dramatically to such subtle economic pressures. And last year, the Swiss parliament decided not to update its so-called CO2 law to allow the levy to rise as high $200 per ton.

Switzerland has other tools in its toolbox, including a trading scheme that allows polluters to pay others to cut their greenhouse gas emissions if they can do so less expensively. The country also boasts an enviable public transportation network.

However, the Swiss are not currently on track to meet their Paris pledge to reduce emissions to 230% below 1990 levels by 2020, nor to achieve a 50% reduction by 2030.

Costa Rica

Costa Rica may be tiny, but what it lacks in size, it makes up for in ambition. Like the U.K. and Norway, the country has committed to reaching net zero emissions by the middle of the century. And in February, it released a detailed blueprint for how to do it.

If it hews to that plan, it will help the world limit warming to 2 degrees—and it will be nearly enough to meet the 1.5-degree target. (Currently, it is tracking slightly above the 2-degree goal.)

The country has already tackled some of its biggest emissions sectors. It gets 80% of its energy from hydropower and most of the rest from other renewables. It has also managed to reverse the trend of deforestation that plagued the country in the 1960s and ’70s. Since that time, Costa Rica has more than doubled its forest cover.

A forest in Costa Rica

Most of its emissions now come from transportation. The government hopes to follow Norway’s lead in increasing the share of electric cars. But it would ultimately like to make public transportation the option of choice, especially for city dwellers. By 2035, it wants a bus fleet made up of 70% electric vehicles and an electric train system to ferry people between cities.

This is easier said than done, Fransen said, since the government generates a significant fraction of its revenue from gas taxes. But Costa Rica is taking the problem seriously; reforming its tax system is a pillar of its decarbonization program.

“It’s not an easy fix,” Fransen said, but it’s something that many countries will eventually need to grapple with.

Costa Rica also plans to promote sustainable building and implement a national compost strategy. It aims to increase its forest cover even further, to 60% of its footprint. And it has placed a moratorium on oil extraction until 2050.

Explore further

The good, the bad and the ugly: The nations leading and failing on climate action

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#Environment

[csrgood]

2019 C.K. Prahalad Award for Global Business Sustainability Leadership Honors TerraCycle’s Loop, With Posthumous Honors to Former Duke Energy CEO, Jim Rogers

CEF presented the 2019 C.K. Prahalad Award in two categories: leadership by a collaboration to TerraCycle’s Loop Shopping Platform; and leadership by an individual executive to former Duke Energy CEO, Jim Rogers. The awards were announced at the 2019 CEF Annual Leadership Retreat, attended by senior executives representing CEF member companies with combined revenues of over $3 trillion. 

TERRACYCLE AND LOOP “Loop” is being honored for forging a revolutionary, circular business model that dramatically reduces waste by transforming how companies package and deliver everyday staples. Loop offers an easy online shopping experience with a big plus: it also takes care of packaging collection and cleaning when the product has been used up, then refills and replenishes the customer’s supply.  

A growing list of the world’s biggest consumer brands are partnering on Loop. Household names including The Clorox Company, PepsiCo, Procter & Gamble, Unilever, Nestlé, Danone—together with retailers Walgreens and Kroger and global logistics powerhouse UPS — are banking on Loop to give customers the products they love while helping them avoid the hassles of trash and recycling. 

To start, Loop will offer about 150 well-known products — things like Tide detergent, Tropicana orange juice Häagen-Dazs ice cream and Clorox Disinfecting Wipes — all in reusable packaging, delivered right to the consumer’s door. After using the products, customers put the empty containers in a specially designed Loop tote on their doorstep, where they are picked up by UPS, cleaned and refilled, then shipped back to consumers over and over. 

Participating companies have made significant investments in creating new stylish, durable packaging designs that can in some cases be reused a hundred times. If those investments prove out, they could lead to a dramatic decrease in single use plastic waste, reduce pressure on insufficient recycling infrastructure and markets, and enable recycling of certain products for the first time. 

Loop’s rollout plan is aggressive. Soon after being announced at the World Economic Forum in January 2019, a pilot of the program began rolling out in Paris and New York, with plans to expand into the London area in late 2019. Launches in Toronto, California and Tokyo are planned in conjunction with the 2020 Summer Olympics. With links to so many well-loved brands and a simple at-home collection interface, Loop can reach customers not traditionally drawn to so-called “green” commerce, leading to economies of scale that could really make a difference. Alan Jope, CEO of Unilever has described this among his company’s reasons for joining Loop, saying the consumer product giant wants “to put an end to the current ‘take-make-dispose’ culture.”  

CEF’s Founder, MR Rangaswami praised TerraCycle and the leading companies who are part of Loop: “It takes courageous leadership to buck the status quo. Loop represents a bold experiment for the consumer goods industry, and we look forward to watching it unfold.”

JIM ROGERS 

The jury for the CK Prahalad Award also honored the legacy of James E. Rogers Jr, former CEO of Duke Energy and a true champion of sustainability, who passed away unexpectedly in December of 2018.

Rogers led by asking those around him to envision a future they may not live to see. He famously applied what he called his “grandfather’s test” – a way to ensure that his actions would have a positive impact on future generations. His life was guided by a philosophy he called “cathedral thinking,” modeled on the builders of medieval churches who knew they would not live to see their work completed but nonetheless tirelessly devoted themselves to the legacy they were creating.  

Rogers translated these values into action every day of his 25 years as a CEO in the utility industry, leading Duke Energy with vision and courage, and growing shareholder value while demonstrating fervent support for sustainable energy. Rogers is perhaps best known for being at the forefront of the electric utility industry in publicly addressing the threat of climate change.  He presented Duke Energy’s Board of Directors with a plan to “decarbonize” the company by 2050, and led Duke’s work to reduce its reliance on coal well ahead of industry peers.

Rogers was one of the first American CEOs to boldly advocate for federal policy to cap the amount of carbon dioxide produced in the United States. To that end, he helped found the U.S. Climate Action Partnership in 2007—a historically important collaboration of leading businesses and environmental groups that laid the groundwork for Congress to consider federal legislation regulating greenhouse gas emissions for the very first time.

Rogers received innumerable industry awards and Newsweek named him one of the "50 Most Powerful People in the World." Yet as impressive as his many accomplishments were, what was especially notable was the way he wielded that power – with a view to the future, with a commitment to humanity, and with kindness and good humor always on display.

Even during his retirement he did not rest, instead turning his attention to those in need and focusing his efforts on providing rural people in low-income nations access to clean, sustainable electricity, as documented in his book, “Lighting the World: Transforming Our Energy Future by Bringing Electricity to Everyone.”  

CEF Chair, P.J. Simmons, added “Jim Rogers inspired so many of us personally, and set the bar high for what exceptional sustainable private sector leadership looks like. We are honored to have the opportunity to shine a light on Jim’s extraordinary life and legacy.” 

VIDEOS PROFILING THE WINNERS  Terracycle and Loop: https://youtu.be/Vg5Qg4aSdio

Jim Rogers: https://youtu.be/_b0W0Tmv9DU 

CONTACT: MR Rangaswami, Founder, Corporate Eco Forum 415-516-5857 mr@corporateecoforum.com 

ABOUT CEF 

CEF is an elite, invitation-only membership organization comprised mainly of Fortune and Global 500 companies from 18 industries with combined revenues of over $3 trillion. CEF provides a year-round safe, neutral space for influential executives to exchange best practice, collaborate, and innovate. Participants are almost exclusively VP and C-level executives across multiple business functions. The diversity of executives, coupled with the cross-industry nature of CEF, creates a world-class platform to accelerate sustainable business problem solving and innovation.

ABOUT THE C.K. PRAHALAD GLOBAL SUSTAINABILITY LEADERSHIP AWARD 

The C.K. Prahalad Global Sustainability Leadership Award, created in 2010 to honor founding CEF Advisory Board member C.K. Prahalad, recognizes exceptional, globally significant private-sector action—within or outside the CEF membership—that exemplifies the fundamental connection between sustainability, innovation and long-term business success in a globalizing world. C.K. Prahalad Award winners are determined through private votes cast by CEF’s 24-member advisory board, which includes representatives from government, academia, nongovernmental organizations, and the private sector. The voters chose from a roster of finalists, selected following an open nominations process. Past award recipients include the following: 

• 2010: Walmart Brazil and CEO Hector Nuñez  • 2011: Coca-Cola and CEO Muhtar Kent  • 2012: Dow Chemical Corporate Vice President and CSO Officer Neil Hawkins; The Sustainable Apparel Coalition; and Unilever and CEO Paul Polman • 2013: FEMSA Foundation Director Vidal Garza Cantú; Nike CSO and Vice President of the Innovation Accelerator Hannah Jones; and UPS CFO Kurt Kuehn • 2014: Robert B. Carter, Executive Vice President, Information Services/CIO, FedEx Corporation; Global Water Challenge (GWC); Tamara “TJ” DiCaprio, Senior Director of Environmental Sustainability, Microsoft • 2015: NRG Energy and CEO, David Crane • 2016: Siemens and CEO Joe Kaeser with special honors to Christiana Figueres and Douglas Tompkins  • 2017: Urs Hölzle, Google, Renewable Energy Buyers Alliance (REBA), and honorary award to Dr. John B. Goodenough  • 2018: Lisa Jackson, Apple, The Task Force on Climate-Related Financial Disclosures (TCFD). 

CEF MEMBERS

3M, Allegheny Technologies, Amazon, Apple, Aptiv, Bank of America, BASF, Bloomberg LP, Boeing, Bose, CBRE, Chevron, Cisco, Clorox, Comcast NBC Universal, Dell, Dow Chemical, Duke Energy, Ecolab, Enterprise Holdings, The Estée Lauder Companies, ExxonMobil, Facebook, Fidelity, Ford, General Motors, Google, HanesBrands, Honeywell, HP, HPE, Hyatt Hotels, Ingersoll Rand, International Paper, JetBlue Airways, Johnson & Johnson, JPMorgan Chase & Co., Kaiser Permanente, Kimberly-Clark, Lockheed Martin, Marriott International, Mastercard, McDonald's, McKinsey & Co., Microsoft, Morgan Stanley, NextEra Energy Resources, Northrop Grumman, NRG Energy, Oracle, Patagonia, PepsiCo, Procter & Gamble, Sealed Air, Siemens, TD Bank Group, Tiffany & Co., TPG Capital, Unilever, UPS, Verizon, VF Corporation, Visa, The Walt Disney Company, Waste Management, Wyndham Worldwide ###

source: https://www.csrwire.com/press_releases/42044-2019-C-K-Prahalad-Award-for-Global-Business-Sustainability-Leadership-Honors-TerraCycle-s-Loop-With-Posthumous-Honors-to-Former-Duke-Energy-CEO-Jim-Rogers?tracking_source=rss

[dorcasrempel]

The uncertain role of natural gas in the transition to clean energy

A new MIT study examines the opposing roles of natural gas in the battle against climate change — as a bridge toward a lower-emissions future, but also a contributor to greenhouse gas emissions.

Natural gas, which is mostly methane, is viewed as a significant “bridge fuel” to help the world move away from the greenhouse gas emissions of fossil fuels, since burning natural gas for electricity produces about half as much carbon dioxide as burning coal. But methane is itself a potent greenhouse gas, and it currently leaks from production wells, storage tanks, pipelines, and urban distribution pipes for natural gas. Increasing its usage, as a strategy for decarbonizing the electricity supply, will also increase the potential for such “fugitive” methane emissions, although there is great uncertainty about how much to expect. Recent studies have documented the difficulty in even measuring today’s emissions levels.

This uncertainty adds to the difficulty of assessing natural gas’ role as a bridge to a net-zero-carbon energy system, and in knowing when to transition away from it. But strategic choices must be made now about whether to invest in natural gas infrastructure. This inspired MIT researchers to quantify timelines for cleaning up natural gas infrastructure in the United States or accelerating a shift away from it, while recognizing the uncertainty about fugitive methane emissions.

The study shows that in order for natural gas to be a major component of the nation’s effort to meet greenhouse gas reduction targets over the coming decade, present methods of controlling methane leakage would have to improve by anywhere from 30 to 90 percent. Given current difficulties in monitoring methane, achieving those levels of reduction may be a challenge. Methane is a valuable commodity, and therefore companies producing, storing, and distributing it already have some incentive to minimize its losses. However, despite this, even intentional natural gas venting and flaring (emitting carbon dioxide) continues.

The study also finds policies that favor moving directly to carbon-free power sources, such as wind, solar, and nuclear, could meet the emissions targets without requiring such improvements in leakage mitigation, even though natural gas use would still be a significant part of the energy mix.

The researchers compared several different scenarios for curbing methane from the electric generation system in order to meet a target for 2030 of a 32 percent cut in carbon dioxide-equivalent emissions relative to 2005 levels, which is consistent with past U.S. commitments to mitigate climate change. The findings appear today in the journal Environmental Research Letters, in a paper by MIT postdoc Magdalena Klemun and Associate Professor Jessika Trancik.

Methane is a much stronger greenhouse gas than carbon dioxide, although how much more depends on the timeframe you choose to look at. Although methane traps heat much more, it doesn’t last as long once it’s in the atmosphere — for decades, not centuries.  When averaged over a 100-year timeline, which is the comparison most widely used, methane is approximately 25 times more powerful than carbon dioxide. But averaged over a 20-year period, it is 86 times stronger.

The actual leakage rates associated with the use of methane are widely distributed, highly variable, and very hard to pin down. Using figures from a variety of sources, the researchers found the overall range to be somewhere between 1.5 percent and 4.9 percent of the amount of gas produced and distributed. Some of this happens right at the wells, some occurs during processing and from storage tanks, and some is from the distribution system. Thus, a variety of different kinds of monitoring systems and mitigation measures may be needed to address the different conditions.

“Fugitive emissions can be escaping all the way from where natural gas is being extracted and produced, all the way along to the end user,” Trancik says. “It’s difficult and expensive to monitor it along the way.”

That in itself poses a challenge. “An important thing to keep in mind when thinking about greenhouse gases,” she says, “is that the difficulty in tracking and measuring methane is itself a risk.” If researchers are unsure how much there is and where it is, it’s hard for policymakers to formulate effective strategies to mitigate it. This study’s approach is to embrace the uncertainty instead of being hamstrung by it, Trancik says: The uncertainty itself should inform current strategies, the authors say, by motivating investments in leak detection to reduce uncertainty, or a faster transition away from natural gas.

“Emissions rates for the same type of equipment, in the same year, can vary significantly,” adds Klemun. “It can vary depending on which time of day you measure it, or which time of year. There are a lot of factors.”

Much attention has focused on so-called “super-emitters,” but even these can be difficult to track down. “In many data sets, a small fraction of point sources contributes disproportionately to overall emissions,” Klemun says. “If it were easy to predict where these occur, and if we better understood why, detection and repair programs could become more targeted.” But achieving this will require additional data with high spatial resolution, covering wide areas and many segments of the supply chain, she says.

The researchers looked at the whole range of uncertainties, from how much methane is escaping to how to characterize its climate impacts, under a variety of different scenarios. One approach places strong emphasis on replacing coal-fired plants with natural gas, for example; others increase investment in zero-carbon sources while still maintaining a role for natural gas.

In the first approach, methane emissions from the U.S. power sector would need to be reduced by 30 to 90 percent from today’s levels by 2030, along with a 20 percent reduction in carbon dioxide. Alternatively, that target could be met through even greater carbon dioxide reductions, such as through faster expansion of low-carbon electricity, without requiring any reductions in natural gas leakage rates. The higher end of the published ranges reflects greater emphasis on methane’s short-term warming contribution.

One question raised by the study is how much to invest in developing technologies and infrastructure for safely expanding natural gas use, given the difficulties in measuring and mitigating methane emissions, and given that virtually all scenarios for meeting greenhouse gas reduction targets call for ultimately phasing out natural gas that doesn’t include carbon capture and storage by mid-century. “A certain amount of investment probably makes sense to improve and make use of current infrastructure, but if you’re interested in really deep reduction targets, our results make it harder to make a case for that expansion right now,” Trancik says.

The detailed analysis in this study should provide guidance for local and regional regulators as well as policymakers all the way to federal agencies, they say. The insights also apply to other economies relying on natural gas. The best choices and exact timelines are likely to vary depending on local circumstances, but the study frames the issue by examining a variety of possibilities that include the extremes in both directions — that is, toward investing mostly in improving the natural gas infrastructure while expanding its use, or accelerating a move away from it.

The research was supported by the MIT Environmental Solutions Initiative. The researchers also received support from MIT’s Policy Lab at the Center for International Studies.

The uncertain role of natural gas in the transition to clean energy syndicated from https://osmowaterfilters.blogspot.com/

[gillespialfredoe01806ld]

California Takes Big Step to Require Solar on New Homes

Justin Sullivan/Getty Images

California took a major step Wednesday toward becoming the first state to require solar panels on nearly all new homes, the latest sign of how renewable energy is gaining ground in the U.S.

The California Energy Commission voted 5-0 to approve a mandate that residential buildings up to three stories high, including single-family homes and condos, be built with solar installations starting in 2020.

The commission estimates that the move, along with other energy-efficiency requirements, would add $9,500 to the average cost of building a home in California. The state is already one of the most expensive housing markets in the country, with a median price of nearly $565,000 for a single-family home, according to the California Association of Realtors.

Still, the change appears to have broad support from home builders as well as California leaders and solar advocates.

Nationally, solar power makes up less than 2% of U.S. electricity output, according to the U.S. Energy Information Administration. But it is rising because of large solar farms as well as rooftop solar arrays on homes and businesses.

Renewable-energy technologies, in general, are gaining market share in the power sector as their costs go down, along with natural gas, which has become plentiful and cheap due to fracking.

California has often been a bellwether on U.S. environmental and energy efficiency issues, with states such as Massachusetts, Minnesota and New York sometimes following its lead. But some experts were skeptical that California’s solar-panel mandate would widely influence policies elsewhere.

Steve Kalland, executive director of the North Carolina Clean Energy Technology Center at North Carolina State University, doesn’t see his state—the No. 2 solar market in the U.S. behind California—adopting a similar mandate soon.

“It is a pretty big stretch to imagine certainly any Southeastern state following suit in the near term, but the technology is getting cheaper and cheaper and the public is starting to clamor for it,” he said. “In North Carolina, the market is much more oriented toward larger scale solar farms.”

Solar panels on a house in Rancho Palos Verdes

izen of the Planet/Education Images/UIG via Getty Images

Bob Raymer, a senior engineer at the California Building Industry Association, said the trade group would have preferred California hold off a few more years on the solar mandate. But the group helped shape the rule to reduce compliance costs and increase flexibility, he said.

“Adoption of these standards represents a quantum leap in the statewide building standards,” Mr. Raymer said. “You can bet every one of the other 49 states will be watching to see what happens.”

Severin Borenstein, an energy economist at the University of California, Berkeley, said he thought the state was making a mistake by approving this mandate instead of prioritizing larger solar farms, which are more economical. The state’s policy will be difficult for other states and countries to follow, he said.

“Every energy economist I know is shaking their head at this,” he said. “In many ways this is setting the wrong example.”

The policy would provide a big boost to California’s residential solar industry, which saw a slowdown last year.

An Energy Commission study forecasts that overall solar demand in California would rise by as much as 15% annually, given that California’s low-rise residential housing stock increases by about 2% annually.

But it is likely to create challenges for California as more electricity generation takes place at homes, said Joe Osha, senior analyst at JMP Securities. That is problematic for power companies because they have to deal with the excess power coming on transmission lines from residences.

“This is more bad news and challenges for the utilities,” Mr. Osha said.

The solar proposal, part of an update of the state’s energy efficiency building codes, needs final approval from the California Building Standards Commission. But that panel has traditionally adopted Energy Commission recommendations, officials said.

Shares of several solar-panel installers and makers rose Wednesday including SunPower Corp. , which rose more than 6%, and Sunrun Inc. which gained more than 4%.

“This is a vote of confidence that home solar and batteries are part of the energy future,” Sunrun Chief Executive Lynn Jurich said in an interview.

Francesca Wahl, a senior policy associate at Tesla Inc., which sells solar panels as well as batteries, spoke in favor of the changes Wednesday, saying the company sees them as “a good pathway for the industry to drive down costs,” as well as help increase efficiency and provide savings to customers.

Wind and solar combined accounted for about 8% of U.S. power generation in 2017, up from less than 1% a decade ago. Natural gas is now the top fuel for electricity, accounting for 32% of generation compared with 22% a decade earlier. Coal’s share has fallen to about 30%, from 49% in the same time span.

California is pursuing aggressive policies to reduce air pollution and combat climate change—including a mandate to slash greenhouse-gas emissions 40% below 1990 levels by 2030—that are helping drive renewable energy in the state. Solar accounted for nearly 10% of California’s electricity generation in 2016, Energy Commission data shows.

The state already requires home builders to construct residences that can immediately accommodate solar power arrays, while several cities, including San Francisco and Santa Monica, have instituted solar requirements for newly built homes and buildings.

“To get to a decarbonized economy in California we need massive expansion of solar and other renewable energies,” said State Sen. Scott Wiener,  a San Francisco Democrat who proposed legislation last year to mandate solar on rooftops, but backed off in light of the Energy Commission’s efforts.

Currently, about 20% of new single-family homes in the state are built with solar, said Mr. Raymer of the California Building Industry Association, which represents thousands of home builders, contractors, architects and others. Making solar mandatory on homes is expected to add $8,000 to $10,000 to construction costs, he said.

Builders would have the option to install solar in a communal area if it doesn’t make sense on individual rooftops. By installing batteries that help homeowners save energy for later use, builders can also gain some flexibility in meeting efficiency standards.

Whether other states follow California will depend on factors including weather, access to energy resources and local politics. But California has been influential on energy-efficiency standards, said Haresh Kamath, senior program manager for distributed energy resources at the Electric Power Research Institute, a nonprofit.

“If you look at what has happened historically, many of the others have taken cues from California in terms of things like this,” he said.

The California Housing Partnership, a nonprofit group that advocates for affordable housing, hasn’t taken a position on the solar rule. Stephanie Wang, the group’s policy director, urged state leaders to invest in programs that “make energy more affordable for the Californians who are most vulnerable in our housing crisis.”

California has more solar power installed than any other state, with about 21 gigawatts of generation capacity, according to the Solar Energy Industries Association. That is far more than the second-largest solar-producing state, North Carolina, which has 4.3 gigawatts.

Energy Commissioner Andrew McAllister said the solar rule was just the latest step in California’s decadeslong effort to increase energy efficiency and renewable energy use.

The commission expects the cost of adding solar, when combined with other revised efficiency standards, to add about $40 to an average monthly payment on a 30-year mortgage. However it estimates the investment would more than pay for itself, with consumers on average saving $80 a month on heating, cooling and lighting bills.

“The buyer of that home absolutely gets their money back,” Mr. McAllister said. “Out-of-pocket, they are actually better off.”

Abigail Ross Hopper, chief executive of the Solar Energy Industries Association, said California’s action would demonstrate to policy makers in other states that promoting home solar makes sense.

“The impact it could have in California and the impact it could have around the country will be significant,” she said. “It’s going to be a really big deal.”

The post California Takes Big Step to Require Solar on New Homes appeared first on Real Estate News & Insights | realtor.com®.

from DIYS https://ift.tt/2Kbyw6d

[falconridgegrp-blog]

Schneider Electric commits to 100 per cent renewable electricity by 2030 and reporting on its energy productivity journey

Mississauga, Ont. – December 12, 2017 – Schneider Electric, the leader in digital transformation of energy management and automation, has committed to sourcing 100 per cent renewable electricity and is throwing light on the doubling of its energy productivity.

Schneider Electric strongly believes it cannot go renewable without ensuring optimization of its energy system first. Today's commitments are yet another step-in the company's journey to becoming carbon neutral by 2030. Aligned with these commitments, Schneider Electric has decided to join two global, collaborative initiatives, led by The Climate Group, bringing together influential businesses committed to accelerating climate action:

RE100: to use 100 per cent renewable electricity by 2030 with an intermediary objective of 80 per cent by 2020

EP100: to double energy productivity by 2030, against a 2005 baseline, setting an ambitious target to doubling the economic output from every unit of energy consumed

Schneider Electric strives to answer the world's new energy challenge by boosting energy efficiency everywhere: in homes, buildings and cities, industry, the grid, and throughout remote community. In a world more decarbonized, more digitized, more decentralized, energy use needs to be more productive. In order to deliver on its new promises and its sustained energy efficiency efforts, Schneider Electric will leverage its own technical solutions – EcoStruxure Power and EcoStruxure Grid. Using these solutions, the Group has been able to reduce its energy consumption by 10 per cent every three years for the past 10 years. More specifically, Schneider Electric has reduced consumption by six per cent between 2008 and 2017 at its headquarters in France, The Hive.

These commitments will cover more than 1,000 electricity consuming sites around the globe, including 200 factories. Schneider Electric will leverage a broad range of renewable energy sources, including but not limited to solar, wind, geothermal and biomass.

Schneider Electric will drive its transition to 100 per cent renewable electricity through three levers, with an interim goal of achieving 80 per cent renewable electricity use by 2020 to 100 per cent in 2030:

On-site projects at Schneider Electric facilities around the world: with renewable energy initiatives, already in place at some Schneider Electric locations, such as a solar rooftop at its sites in Vadodara (India), Bangpoo (Thailand), or geothermal energy and a solar rooftop at its flagship office “The Hive”, France, among multiple others. Schneider Electric will install on-site renewable energy projects to help achieve its 2030 target. While on-site projects are expected to deliver a portion of Schneider Electric's renewable electricity needs only, they will add to the company's renewable energy capabilities, and act as a showcase for other organizations contemplating such options, together with energy efficiency enabling technologies;

Offsite long-term procurement through Power Purchase Agreements (PPAs): a PPA is a long-term (12-20 year) contract between a renewable energy developer and a dedicated, creditworthy buyer. PPAs enable developers to secure financing for new wind, solar or other renewable electricity projects and allow buyers to enjoy predictable pricing from clean energy sources;

Energy Attribute Certificates (EACs) and green tariffs: an EAC is a free market instrument which verifies that one megawatt hour of renewable electricity was generated and added to the grid from a green power source. Schneider Electric will use EACs as a flexible and fast way to acquire and track renewable electricity.

“We are in a new world of energy that is becoming more electric, more decarbonized, more decentralized, and more digital. Our mission at Schneider Electric is to supply the technologies that permit, drive and catalyze the transition to a new world of energy. The commitments we have made today in joining RE100 and EP100 to source 100 per cent renewable electricity and reflect on the doubling of our energy productivity are a demonstration of how consumers and business can be empowered to ensure the affordability, resilience, sustainability, and security of the energy that they consume,” says Emmanuel Lagarrigue, Chief Strategy Officer and Executive Vice President at Schneider Electric.

“Already a leader in the energy space, joining RE100 and EP100 represents a smart business decision for Schneider Electric. These commitments will help the company to deliver on its wider climate ambition to become carbon neutral by 2030. Doubling energy productivity will help it to use energy as economically as possible while making the transition to renewables, which are themselves cost-competitive in many markets. I welcome the powerful signal Schneider Electric is sending to peers, investors and governments, to accelerate the transition to a zero-emissions economy,” says Helen Clarkson, Chief Executive Officer at The Climate Group.

At COP21 in Paris in 2015, Schneider Electric announced 10 Commitments for Sustainability. The commitments were aligned with the Planet & Society Barometer, Schneider Electric's sustainability scorecard to measure its ambitious commitment to sustainable development on a quarterly basis and contribute to the UN Sustainable Development Goals. These commitments support the company's objectives to make its plants and sites carbon neutral by 2030, in a coherent industry ecosystem encompassing both suppliers and clients.

In addition, to become a carbon neutral company by 2030, recent initiatives from Schneider Electric include:

Climate Leadership Council: at the beginning of 2017, Schneider Electric became a founding member of the Climate Leadership Council in the U.S., to support a new market-based climate solution that is both pro-growth and pro-environment;

Global Footprint Network: in summer 2017, Schneider Electric signed a partnership with the Global Footprint Network, an international non-profit organization, to enable a sustainable future where all people have the opportunity to thrive within the means of one planet;

Launch of EcoStruxure™: in November 2016, Schneider Electric launched the next generation of EcoStruxure, its IoT-enabled, plug-and-pay, open architecture that delivers end-to-end solutions in six domains of expertise – Power, IT, Building, Machine, Plant and Grid – for four end markets: Building, Data Center, Industry and Infrastructure.

Livelihoods Carbon Fund: Together with Crédit Agricole, Danone, Firmenich, Hermès, Michelin, SAP, and Voyageurs du Monde, Schneider Electric has launched a new impact investment fund, with a target of 100 million euros. The fund aims to improve the lives of 2 million people and avoid the emission of up to 25 million tons of CO2 over a 20-year span.

About Schneider Electric  Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centres, Infrastructure and Industries.

With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software.

In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency.

We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.

www.schneider-electric.ca

Led by The Climate Group in partnership with CDP, RE100 is a collaborative initiative uniting the world's most influential businesses committed to 100 per cent renewable power. Renewables are a smart business decision, providing greater control over energy costs and driving innovation, while helping companies to deliver on emission reduction goals. RE100 members, including Global Fortune 500 companies, have a total revenue of more than US$2.5 trillion and operate in a diverse range of sectors – from Information Technology to automobile manufacturing. Together, they represent 155TWh of demand for renewable electricity annually – enough to power Ukraine, Malaysia or New York State. They send a powerful signal to policymakers and investors to accelerate the transition to a low carbon economy.

Led by The Climate Group in partnership with the Alliance to Save Energy, EP100 is a global, collaborative initiative of influential businesses that pledge to double their energy productivity. By doubling the economic output from every unit of energy consumed, companies set a bold target, demonstrating climate leadership while reaping the benefits of lower energy costs. Business accounts for around half of the electricity used worldwide. By focusing on energy productivity outcomes, corporates can reduce their own energy demand and significantly contribute to reducing energy demand globally. Furthermore, significantly improving energy productivity worldwide will help get us halfway to the goal of limiting global warming to well below 2 degrees Celsius. It's critical that businesses lead the way. By doubling energy productivity, corporations are also enhancing their resilience and boosting competitiveness, all while reducing greenhouse gas emissions, creating jobs, and improving energy security. http://constructionlinks.ca/news/schneider-electric-commits-100-per-cent-renewable-electricity-2030-reporting-energy-productivity-journey/

[hudsonespie]

Study: Customer Demand Will Drive Decarbonization

In a new study conducted with management consultancy Deloitte, the oil major Shell held discussions with more than 80 senior shipping executives about challenges and opportunities on the path to decarbonization. The IMO has set an ambition to cut total greenhouse gas emissions from shipping in half by midcentury, but obstacles abound: the propulsion technology is not yet ready; the bunkering infrastructure has yet to be built; and a fragmented, highly competitive market requires most players to optimize investment decisions for near-term profitability. 

However, there are some early signs of public commitment to meeting IMO's climate goals - notably in Europe and Scandinavia - and in the study, many of the interviewees expressed optimism about hitting the target. 95 percent said that decarbonization is among the industry's top three priorities.

The most significant identified barrier was a lack of market demand. Deep-sea tankers, bulkers and boxships together account for about 85 percent of the industry's total emissions, but they are largely invisible to the general public, and they face little direct pressure from customers to "green" their operations. “Limited awareness means limited willingness to change the buying behavior, especially when green products cost more,” one logistics executive told the survey team. 

Regulatory incentives help overcome this barrier by creating a requirement that the market does not impose. All legally-compliant stakeholders have to change simultaneously when a new global regulation comes into place, and the baseline cost of doing business rises. 70 percent of the study's participants said that they perceive a lack of suitable regulatory incentives to be a major barrier to decarbonization, and many predicted that achieving a binding IMO requirement will take a long time. “IMO 2020 took over 15 years, and that was simpler than decarbonization," one vessel operator said. A regional EU cap-and-trade requirement could come as early as this fall, but participants cautioned that this could create an uneven playing field for Europe-based operators.

To overcome these challenges, the interviewees endorsed an "ecosystem" approach to change, led by the biggest players. As one vessel operator put it, “the solution will come from the operators with their name on the ships," and the smaller family enterprises will follow. 

1. Create more demand: create scale in demand for low or zero-emission shipping through charterers’ and customers’ commitments

2. Global regulation: create a level playing field globally and reduce uncertainty regarding regulations and timeframes

3. R&D collaboration: develop zero or low-emission fuels through joint R&D across shipping, other sectors and the energy industry

4. Run more pilot projects: run end-to-end green pilot projects involving customers, charterers, operators, owners and ports on specific routes and vessel types

5. Coordinate coalitions: consolidate objectives and boost coordination between bodies like the Getting to Zero Coalition and the Clean Cargo Working Group 

6. Pursue flexible or modular propulsion designs: reduce the risk of choosing a new fuel by making the propulsion system easier to change later on.

7. Port coalitions: work with the world’s largest ports to create preferential treatment for green vessels

8. Investor pressure: encourage the management of shipping companies to set decarbonization targets and make related investments through activist shareholding.

9. Green finance: lower the cost of capital with dedicated green financing options

10. Scale up alternative fuel production 

11. Scale up bunkering infrastructure

12. Improve operational fuel efficiency to reduce emissions

Reducing scale

These practical solutions center on altering the way that ships are fueled, but a recent study published by ABS suggests that that might not be enough. Unless the rest of the world switches to alternative energy sources in line with the Paris Climate Accord, the overall demand for shipping will rise markedly by midcentury, according to the ABS study. More demand means more ships and more ton-miles traveled, and the increased volume of traffic will offset emissions improvements from new fuels.

The ABS study determined that if the world's entire economy takes accelerated climate action and moves away from oil and coal, demand would decline in the crude tanker and capesize bulker segments. Growth in the container sector would be markedly slower. These externally-driven limits on fleet size would augment the industry's internal efforts to reduce emissions.

In turn, this means that shipping's success in reducing total emissions depends upon changes in the global economy, according to ABS head of sustainability Georgios Plevrakis. "Shipping alone is not going to hit its decarbonization targets for 2050, it's going to require a global decarbonization strategy involving the entire value chain," Plevrakis said in a recent interview.

from Storage Containers https://maritime-executive.com/article/study-customer-demand-will-drive-decarbonization via http://www.rssmix.com/

[hudsonespie]

Study: Customer Demand Will Drive Decarbonization

In a new study conducted with management consultancy Deloitte, the oil major Shell held discussions with more than 80 senior shipping executives about challenges and opportunities on the path to decarbonization. The IMO has set an ambition to cut total greenhouse gas emissions from shipping in half by midcentury, but obstacles abound: the propulsion technology is not yet ready; the bunkering infrastructure has yet to be built; and a fragmented, highly competitive market requires most players to optimize investment decisions for near-term profitability. 

However, there are some early signs of public commitment to meeting IMO's climate goals - notably in Europe and Scandinavia - and in the study, many of the interviewees expressed optimism about hitting the target. 95 percent said that decarbonization is among the industry's top three priorities.

The most significant identified barrier was a lack of market demand. Deep-sea tankers, bulkers and boxships together account for about 85 percent of the industry's total emissions, but they are largely invisible to the general public, and they face little direct pressure from customers to "green" their operations. “Limited awareness means limited willingness to change the buying behavior, especially when green products cost more,” one logistics executive told the survey team. 

Regulatory incentives help overcome this barrier by creating a requirement that the market does not impose. All legally-compliant stakeholders have to change simultaneously when a new global regulation comes into place, and the baseline cost of doing business rises. 70 percent of the study's participants said that they perceive a lack of suitable regulatory incentives to be a major barrier to decarbonization, and many predicted that achieving a binding IMO requirement will take a long time. “IMO 2020 took over 15 years, and that was simpler than decarbonization," one vessel operator said. A regional EU cap-and-trade requirement could come as early as this fall, but participants cautioned that this could create an uneven playing field for Europe-based operators.

To overcome these challenges, the interviewees endorsed an "ecosystem" approach to change, led by the biggest players. As one vessel operator put it, “the solution will come from the operators with their name on the ships," and the smaller family enterprises will follow. 

1. Create more demand: create scale in demand for low or zero-emission shipping through charterers’ and customers’ commitments

2. Global regulation: create a level playing field globally and reduce uncertainty regarding regulations and timeframes

3. R&D collaboration: develop zero or low-emission fuels through joint R&D across shipping, other sectors and the energy industry

4. Run more pilot projects: run end-to-end green pilot projects involving customers, charterers, operators, owners and ports on specific routes and vessel types

5. Coordinate coalitions: consolidate objectives and boost coordination between bodies like the Getting to Zero Coalition and the Clean Cargo Working Group 

6. Pursue flexible or modular propulsion designs: reduce the risk of choosing a new fuel by making the propulsion system easier to change later on.

7. Port coalitions: work with the world’s largest ports to create preferential treatment for green vessels

8. Investor pressure: encourage the management of shipping companies to set decarbonization targets and make related investments through activist shareholding.

9. Green finance: lower the cost of capital with dedicated green financing options

10. Scale up alternative fuel production 

11. Scale up bunkering infrastructure

12. Improve operational fuel efficiency to reduce emissions

Reducing scale

These practical solutions center on altering the way that ships are fueled, but a recent study published by ABS suggests that that might not be enough. Unless the rest of the world switches to alternative energy sources in line with the Paris Climate Accord, the overall demand for shipping will rise markedly by midcentury, according to the ABS study. More demand means more ships and more ton-miles traveled, and the increased volume of traffic will offset emissions improvements from new fuels.

The ABS study determined that if the world's entire economy takes accelerated climate action and moves away from oil and coal, demand would decline in the crude tanker and capesize bulker segments. Growth in the container sector would be markedly slower. These externally-driven limits on fleet size would augment the industry's internal efforts to reduce emissions.

In turn, this means that shipping's success in reducing total emissions depends upon changes in the global economy, according to ABS head of sustainability Georgios Plevrakis. "Shipping alone is not going to hit its decarbonization targets for 2050, it's going to require a global decarbonization strategy involving the entire value chain," Plevrakis said in a recent interview.

from Storage Containers https://www.maritime-executive.com/article/study-customer-demand-will-drive-decarbonization via http://www.rssmix.com/

[hudsonespie]

Study: Customer Demand Will Drive Decarbonization

In a new study conducted with management consultancy Deloitte, the oil major Shell held discussions with more than 80 senior shipping executives about challenges and opportunities on the path to decarbonization. The IMO has set an ambition to cut total greenhouse gas emissions from shipping in half by midcentury, but obstacles abound: the propulsion technology is not yet ready; the bunkering infrastructure has yet to be built; and a fragmented, highly competitive market requires most players to optimize investment decisions for near-term profitability. 

However, there are some early signs of public commitment to meeting IMO's climate goals - notably in Europe and Scandinavia - and in the study, many of the interviewees expressed optimism about hitting the target. 95 percent said that decarbonization is among the industry's top three priorities.

The most significant identified barrier was a lack of market demand. Deep-sea tankers, bulkers and boxships together account for about 85 percent of the industry's total emissions, but they are largely invisible to the general public, and they face little direct pressure from customers to "green" their operations. “Limited awareness means limited willingness to change the buying behavior, especially when green products cost more,” one logistics executive told the survey team. 

Regulatory incentives help overcome this barrier by creating a requirement that the market does not impose. All legally-compliant stakeholders have to change simultaneously when a new global regulation comes into place, and the baseline cost of doing business rises. 70 percent of the study's participants said that they perceive a lack of suitable regulatory incentives to be a major barrier to decarbonization, and many predicted that achieving a binding IMO requirement will take a long time. “IMO 2020 took over 15 years, and that was simpler than decarbonization," one vessel operator said. A regional EU cap-and-trade requirement could come as early as this fall, but participants cautioned that this could create an uneven playing field for Europe-based operators.

To overcome these challenges, the interviewees endorsed an "ecosystem" approach to change, led by the biggest players. As one vessel operator put it, “the solution will come from the operators with their name on the ships," and the smaller family enterprises will follow. 

1. Create more demand: create scale in demand for low or zero-emission shipping through charterers’ and customers’ commitments

2. Global regulation: create a level playing field globally and reduce uncertainty regarding regulations and timeframes

3. R&D collaboration: develop zero or low-emission fuels through joint R&D across shipping, other sectors and the energy industry

4. Run more pilot projects: run end-to-end green pilot projects involving customers, charterers, operators, owners and ports on specific routes and vessel types

5. Coordinate coalitions: consolidate objectives and boost coordination between bodies like the Getting to Zero Coalition and the Clean Cargo Working Group 

6. Pursue flexible or modular propulsion designs: reduce the risk of choosing a new fuel by making the propulsion system easier to change later on.

7. Port coalitions: work with the world’s largest ports to create preferential treatment for green vessels

8. Investor pressure: encourage the management of shipping companies to set decarbonization targets and make related investments through activist shareholding.

9. Green finance: lower the cost of capital with dedicated green financing options

10. Scale up alternative fuel production 

11. Scale up bunkering infrastructure

12. Improve operational fuel efficiency to reduce emissions

Reducing scale

These practical solutions center on altering the way that ships are fueled, but a recent study published by ABS suggests that that might not be enough. Unless the rest of the world switches to alternative energy sources in line with the Paris Climate Accord, the overall demand for shipping will rise markedly by midcentury, according to the ABS study. More demand means more ships and more ton-miles traveled, and the increased volume of traffic will offset emissions improvements from new fuels.

The ABS study determined that if the world's entire economy takes accelerated climate action and moves away from oil and coal, demand would decline in the crude tanker and capesize bulker segments. Growth in the container sector would be markedly slower. These externally-driven limits on fleet size would augment the industry's internal efforts to reduce emissions.

In turn, this means that shipping's success in reducing total emissions depends upon changes in the global economy, according to ABS head of sustainability Georgios Plevrakis. "Shipping alone is not going to hit its decarbonization targets for 2050, it's going to require a global decarbonization strategy involving the entire value chain," Plevrakis said in a recent interview.

from Storage Containers https://maritime-executive.com/article/study-customer-demand-will-drive-decarbonization via http://www.rssmix.com/

[hudsonespie]

Study: Customer Demand Will Drive Decarbonization

In a new study conducted with management consultancy Deloitte, the oil major Shell held discussions with more than 80 senior shipping executives about challenges and opportunities on the path to decarbonization. The IMO has set an ambition to cut total greenhouse gas emissions from shipping in half by midcentury, but obstacles abound: the propulsion technology is not yet ready; the bunkering infrastructure has yet to be built; and a fragmented, highly competitive market requires most players to optimize investment decisions for near-term profitability. 

However, there are some early signs of public commitment to meeting IMO's climate goals - notably in Europe and Scandinavia - and in the study, many of the interviewees expressed optimism about hitting the target. 95 percent said that decarbonization is among the industry's top three priorities.

The most significant identified barrier was a lack of market demand. Deep-sea tankers, bulkers and boxships together account for about 85 percent of the industry's total emissions, but they are largely invisible to the general public, and they face little direct pressure from customers to "green" their operations. “Limited awareness means limited willingness to change the buying behavior, especially when green products cost more,” one logistics executive told the survey team. 

Regulatory incentives help overcome this barrier by creating a requirement that the market does not impose. All legally-compliant stakeholders have to change simultaneously when a new global regulation comes into place, and the baseline cost of doing business rises. 70 percent of the study's participants said that they perceive a lack of suitable regulatory incentives to be a major barrier to decarbonization, and many predicted that achieving a binding IMO requirement will take a long time. “IMO 2020 took over 15 years, and that was simpler than decarbonization," one vessel operator said. A regional EU cap-and-trade requirement could come as early as this fall, but participants cautioned that this could create an uneven playing field for Europe-based operators.

To overcome these challenges, the interviewees endorsed an "ecosystem" approach to change, led by the biggest players. As one vessel operator put it, “the solution will come from the operators with their name on the ships," and the smaller family enterprises will follow. 

1. Create more demand: create scale in demand for low or zero-emission shipping through charterers’ and customers’ commitments

2. Global regulation: create a level playing field globally and reduce uncertainty regarding regulations and timeframes

3. R&D collaboration: develop zero or low-emission fuels through joint R&D across shipping, other sectors and the energy industry

4. Run more pilot projects: run end-to-end green pilot projects involving customers, charterers, operators, owners and ports on specific routes and vessel types

5. Coordinate coalitions: consolidate objectives and boost coordination between bodies like the Getting to Zero Coalition and the Clean Cargo Working Group 

6. Pursue flexible or modular propulsion designs: reduce the risk of choosing a new fuel by making the propulsion system easier to change later on.

7. Port coalitions: work with the world’s largest ports to create preferential treatment for green vessels

8. Investor pressure: encourage the management of shipping companies to set decarbonization targets and make related investments through activist shareholding.

9. Green finance: lower the cost of capital with dedicated green financing options

10. Scale up alternative fuel production 

11. Scale up bunkering infrastructure

12. Improve operational fuel efficiency to reduce emissions

Reducing scale

These practical solutions center on altering the way that ships are fueled, but a recent study published by ABS suggests that that might not be enough. Unless the rest of the world switches to alternative energy sources in line with the Paris Climate Accord, the overall demand for shipping will rise markedly by midcentury, according to the ABS study. More demand means more ships and more ton-miles traveled, and the increased volume of traffic will offset emissions improvements from new fuels.

The ABS study determined that if the world's entire economy takes accelerated climate action and moves away from oil and coal, demand would decline in the crude tanker and capesize bulker segments. Growth in the container sector would be markedly slower. These externally-driven limits on fleet size would augment the industry's internal efforts to reduce emissions.

In turn, this means that shipping's success in reducing total emissions depends upon changes in the global economy, according to ABS head of sustainability Georgios Plevrakis. "Shipping alone is not going to hit its decarbonization targets for 2050, it's going to require a global decarbonization strategy involving the entire value chain," Plevrakis said in a recent interview.

from Storage Containers https://www.maritime-executive.com/article/study-customer-demand-will-drive-decarbonization via http://www.rssmix.com/

[dorcasrempel]

MIT Energy Initiative report charts pathways for sustainable personal transportation

In our daily lives, we all make choices about how we travel and what type of vehicle we own or use. We consider these choices within the constraints of our current transportation system and weigh concerns including costs, convenience, and — increasingly — carbon emissions. “Insights into Future Mobility,” a multidisciplinary report released today by the MIT Energy Initiative (MITEI), explores how individual travel decisions will be shaped by complex interactions between technologies, markets, business models, government policies, and consumer preferences — and the potential consequences as personal mobility undergoes tremendous changes in the years ahead.

The report is the culmination of MITEI’s three-year Mobility of the Future study, which is part of MIT’s Plan for Action on Climate Change. The report highlights the importance of near-term action to ensure the long-term sustainability of personal mobility. The researchers ultimately find that continued technological innovation is necessary and must be accompanied by cross-sector policies and changes to consumer behavior in order to meet Paris Agreement targets for greenhouse gas emissions reductions.

“Understanding the future of personal mobility requires an integrated analysis of technology, infrastructure, consumer choice, and government policy,” says MITEI Director Robert C. Armstrong, a professor of chemical engineering at MIT. “The study team has examined how these different dimensions will develop and interact, and the report offers possible pathways toward achieving a more sustainable personal transportation system.”

The study team of MIT faculty, researchers, and students focused on five main areas of inquiry. They investigated the potential impact of global climate policies on fleet composition and fuel consumption, and the outlook for vehicle ownership and travel, with a focus on the U.S. and China. They also researched characteristics and future market share of alternative fuel vehicles, including plug-in electric and hydrogen fuel cell vehicles, and infrastructure considerations for charging and fueling, particularly as they affect future demand. Another main area of focus was the future of urban mobility, especially the potentially disruptive role of ride-hailing services and autonomous vehicles.

The researchers find that there is considerable opportunity for reducing emissions from personal mobility by improving powertrain efficiency and deploying alternative fuel vehicles in the coming decades. These changes must be accompanied by decarbonization of the production of the fuels and electricity that power these vehicles in order to reach global emissions mitigation targets and achieve cleaner air and other environmental and human health benefits.

“Our analysis shows that reducing the carbon intensity of the light-duty vehicle fleet contributes to climate change mitigation goals, as part of the larger solution,” says Sergey Paltsev, deputy director of the MIT Joint Program on the Science and Policy of Global Change and senior research scientist at MITEI. “If we are to reach international goals for limiting temperature rise and other climate change-related impacts, we will need comprehensive climate policies that promote the adoption of alternative fuel vehicles in the transportation sector and simultaneously decarbonize the electricity sector.”

Several factors influence an individual’s decision to adopt an alternative fuel vehicle, such as a battery electric vehicle. The researchers found that the most important, interrelated factors that impact alternative vehicle adoption include cost, driving range, and charging convenience. They conclude that as production volumes increase, battery costs and the purchase price of electric vehicles will decrease, which will in turn drive sales. Improved batteries would extend the vehicle range, reinforcing the attractiveness of alternative fuel vehicles to consumers. Greater deployment of electric vehicles creates a larger market for publicly available charging infrastructure, which is critical for supporting charging convenience. Early government support for alternative fuel vehicles and charging and fueling infrastructure can help launch a self-reinforcing trajectory of adoption — and has already contributed to an increase in alternative fuel vehicle deployment.

“We found that substantial uptake of battery electric vehicles is likely and that the extent and speed of this transition to electrification is sensitive to evolving battery costs, availability of charging infrastructure, and policy support,” says William H. Green, a professor of chemical engineering at MIT and the study chair. This large-scale deployment of battery electric vehicles is expected to help them reach total cost-of-ownership parity with internal combustion engine vehicles in approximately 10 years in the U.S. It should also lead to new business opportunities, including solutions for developing cost-effective methods of recycling batteries on an industrial scale.

The researchers also examined the role of consumer attitudes toward car ownership and use in both established and emerging economies. In the U.S., the researchers analyzed trends in population and socioeconomic factors to estimate future demand for vehicles and vehicle travel. While many have argued that lower car ownership and use among millennials may lead to a reduced personal vehicle fleet in coming decades, the study team found that generational differences could be completely explained by differences in socioeconomics — meaning that there is no significant difference in preferences for vehicle ownership or use between millennials and previous generations. Therefore, the stock of light-duty vehicles and number of vehicle-miles traveled will likely increase by approximately 30 percent by 2050 in the U.S. In addition, the analysis indicates that “car pride” — the attribution of social status and personal image to owning and using a car — has an effect on car ownership as strong as that of income. An analysis of car pride across countries revealed that car pride is higher in emerging vehicle markets; among established markets, car pride is highest in the U.S.

The adoption of new technologies and business models for personal mobility at scale will require major shifts in consumer perceptions and behaviors, notes Joanna Moody, research program manager of MITEI’s Mobility Systems Center and a coordinating author of the report. “Symbolic and emotional attachments to car ownership and use, particularly among individuals in emerging economies, could pose a significant barrier to the widespread adoption of more sustainable alternatives to privately owned vehicles powered by petroleum-based fuels,” Moody says. “We will need proactive efforts through public policy to establish new social norms to break down these barriers.”

The researchers also looked at China, the largest market for new vehicle sales, to analyze how cities form transportation policies and to estimate how those local-level policies might impact the future size of China’s vehicle stock. To date, six major Chinese cities and one province have implemented car ownership restriction policies in response to severe congestion and air pollution. Our researchers found that if the six megacities continue with these restrictions, the country’s light-duty vehicle fleet could be 4 percent (12 million vehicles) smaller by 2030 than it would be without these restrictions. If the policies are adopted in more of China’s cities facing congestion and air pollution challenges, the fleet could be up to 10 percent (32 million vehicles) smaller in 2030 than it would be without those restrictions.

Finally, the team explored how the introduction of low-cost, door-to-door autonomous vehicle (AV) mobility services will interact with existing modes of transportation in dense cities with incumbent public transit systems. They find that introducing this low-cost mobility service without restrictions can lead to increased congestion, travel times, and vehicle miles traveled — as well as reduced public transit ridership. However, these negative impacts can be mitigated if low-cost mobility services are introduced alongside policies such as “first/last mile” policies (using AVs to transport riders to and from public transit stations) or policies that reduce private vehicle ownership. The findings apply even to cities with vastly different levels of public transit service.

Building on the research started under the Mobility of the Future study, MITEI has now launched a new Low-Carbon Energy Center, the Mobility Systems Center. Approaching mobility from a sociotechnical perspective, the center identifies key challenges, investigates current and potential future trends, and analyzes the societal and environmental impacts of emerging solutions for global passenger and freight mobility.

The Mobility of the Future study received support from an external consortium of international companies with expertise in various aspects of the transportation sector, including energy, vehicle manufacturing, and infrastructure. The report, its findings, and analyses are solely the work of the MIT researchers.

For more information or to access the “Insights into Future Mobility” report, visit energy.mit.edu/insightsintofuturemobility.

MIT Energy Initiative report charts pathways for sustainable personal transportation syndicated from https://osmowaterfilters.blogspot.com/