Daily Climate News - March 12
European Climate Risk Assessment; Corporate travel emissions rankings; Funding & support for gas-based power
In this newsletter:
Legislation & Government Announcements
Top Stories
New Reports
Legislation & Government Announcements
The European Environment Agency (EEA) has published the first European Climate Risk Assessment that identifies 36 climate risks with potentially severe consequences across Europe, severe threats to food security and economic losses of upto $1 trillion every year. Southern Europe, low-lying coastal regions and EU outermost regions are hotspots for multiple climate risks. Recommendations include urgent action for marine and coastal ecosystems, managing heat stress and wildfires, addressing water scarcity, controlling land degradation and deforestation, spatial planning and soil protection.
ECEEE | European Climate Risk Assessment 2024 | Executive Summary (PDF)
UK has cut emissions by 50% since its 1990 levels. The government has now laid out a plan to get to net-zero that includes setting up more gas-based power to handle demand when renewable energy production is low, but with a strategy that handles emissions as well.
Firstly, by broadening existing laws requiring new gas plants to be built net-zero ready and able to convert to low carbon alternatives in the future such as carbon capture and hydrogen to power.
Secondly, these gas power plants will run less frequently as the UK continues to roll out other low carbon technologies. Finally, this is in line with wider government plans to deliver net zero whilst keeping costs down for billpayers.
The State of Texas (USA) will vote on a $5 billion loan program to fund new gas-based power in the ERCOT market. Power Technology
Japan has approved a draft amendment to existing legislation that allows for development of offshore wind power in the country’s exclusive economic zones. While only 136MW offshore wind capacity was installed by 2022, the country aims for 10GW of offshore wind deployment by 2030 and 45GW operational wind power by 2045.
ET Energy | Reuters | GR Japan - Japan’s offshore wind power policy: overview and recent developments (December 2023, PDF) | EU: Analysis of offshore wind tenders in Japan (2022)
The state of Haryana (India) has released a draft Green Hydrogen Policy. Mercom | draft Haryana Green Hydrogen Policy 2024 (PDF)
Top Stories
Travel Smart is a global campaign led by Transport & Environment to reduce corporate air travel emissions. In their 2024 Travel Smart Rankings, 25 companies are identified that have high emissions due to employee air travel and no credible targets to reduce these emissions. As per their report, these 25 companies are responsible for 36% of business travel emissions recorded by the ranking.
The US Department of Energy (DoE) has launched a $4 million competition to foster innovation in recycling of electronic waste and recovering critical minerals from it. If you have a friend in the US, you can participate too! Waste Dive | Electronics Scrap Recycling Advancement Prize (E-SCRAP) | E-SCRAP Website
Biodiversity-focused funds surpassed more than $1.5 billion in assets under management in 2023, according to analysis by Carbon Pulse. The largest of these funds are run by Europe-based insurance companies and asset managers - AXA, La Financière de l'Echiquier, BNP Paribas, Swiss Life, Tocqueville Finance.
China-based smartphone and electronics maker Xiaomi will roll out deliveries of its first electric vehicle, developed in collaboration with Beijing Automotive Group (BAIC) and battery maker CATL, by end of March ET Energy
Attacks by rebel groups on ships in the Red Sea are increasing costs nearly 3 times for vessels eligible for the EU Emissions Trading Scheme (ETS). The ETS came into force on January 1, 2024. To avoid attacks on the affected route, ships are making lengthy diversions which is driving up emissions due to high fuel consumption. Offshore Energy | OceanScore insights on EU ETS in shipping (recommended)
In major cities in India, Uber is now offering users the option to book electric vehicles and view emissions saved by doing so. ET Energy
Luxury automaker Rolls-Royce has announced a collaboration with Poland-based Industria for using nuclear Small Modular Reactors (SMRs) to meet the energy needs at the Central Hydrogen Cluster being developed in Poland. The Central Hydrogen Cluster aims to have 250 MW of electrolyser capacity and produce 4 TWh of clean energy by 2030. A recent report estimated that 22 GW of Small Modular Reactor projects are in the pipeline. Power Technology | Rolls Royce SMR Press Release
AgZen, a startup by MIT researchers, has developed a pesticide monitoring system that
can monitor exactly how much of the sprayed chemicals adheres to plants, in real time, as the sprayer drives through a field. Built-in software running on a tablet shows the operator exactly how much of each leaf has been covered by the spray.
UN’s Green Climate Fund has announced ~$100 million investments in Somalia by mid-2025 for projects aimed at affordable, reliable off-grid energy access to unelectrified populations; climate-smart agriculture, resilience, and food security building projects; and building institutional capacity in the country. GCF Press Release
Indonesia’s reported coal mine methane (CMM) emissions are six to seven times lower than independent estimates, as per new research by Ember Climate. ET Energy | Ember Climate Report
New Reports & Datasets
UK Labour Market March 2024: estimates of employment, unemployment and more ONS Release
12th Annual Integrated Rating & Ranking: Power Distribution Utilities (India), PDF | Press Release (via Energetica India)
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Best,
Soumya Gupta
Founder, Telborg.com | SummaryWithAI.com