Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 UAE President-Designate, today emphasised the integral role that the oil and gas industry plays in solving the climate challenge during his keynote remarks at CERAWeek.
Speaking at the plenary on the first day, Dr. Al Jaber explained, “Energy leaders have the knowledge, experience, expertise and the resources needed to address the dual challenge of driving sustainable progress while holding back emissions.”
He said, “Let me call on you today to decarbonise quicker, future-proof sooner and create the energy system of the future, today.”
“Alongside all industries, the oil and gas sector needs to up its game, do more and do it faster,” Al Jaber added.
Dr. Al Jaber summed up the complexity of the challenge saying, “By 2030, there will be an extra half billion people living on this planet, demanding more energy every year. And at the same time, the world needs to cut emissions by 7 percent each year to keep 1.5 alive- that’s 43 percent in less than seven years. This is a global challenge that calls for global solutions from every stakeholder acting in unity and solidarity.”
He said, “This year, the world will evaluate exactly where we are when it comes to climate progress through the first Global Stocktake. And we know we are way off track. We need a major course correction.”
He added, “To echo the two most famous phrases of this city, first we need to recognise ‘Houston… we have a problem’ and then we need to agree that ‘failure is not an option’.”
He emphasised the need for unity and solidarity in tackling the energy trilemma. “Every government, every industry, every business, and every individual have a role to play. No one can be on the sidelines. And this industry, in particular, is integral to developing the solutions. In fact, this industry must take responsibility and lead the way.”
Dr. Al Jaber said that the oil and gas sector needs to rapidly decarbonise its operations and help decarbonise the operations of its customers.
“Only half of the industry has declared a scope 1 and 2 net-zero goal by 2050. Everyone in the industry needs to be aligned around the same goal. And we should stretch ourselves to go further. Let’s aim to achieve net zero even earlier. Let’s also scale up best practices to reach net-zero methane emissions by 2030. Let’s electrify operations, equip facilities with carbon capture and storage, and use all available technologies to increase efficiency. And let’s monitor, measure, and validate progress every step of the way.”
Al Jaber continued, “Making a dent in the climate crisis is not just about decarbonising oil and gas operations. With the right incentives, the right technologies, the right mindset and the right partnership model, the oil and gas industry has the capacity and the resources to help everyone address scope 3.”
He added, “Power generation is the sector where the biggest impact can be made in the shortest amount of time. By 2030, renewable energy capacity needs to triple.”
“This is the decade to diversify portfolios, future proof companies and provide the clean energy the world needs. That said, we know that for high-emitting sectors, renewable energy is not enough. Aluminum, steel, cement, and many other heavy industries, make up 30 percent of global emissions.”
He added, “Decarbonising economies at scale requires an ‘enabling ecosystem’ that connects policy, people, technology, and capital.”
“Policymakers must create the incentives that move the market in the right direction. Industry needs clear policies to guide long-term investment decisions. The right regulations will stimulate breakthrough technologies to unlock battery storage, bring down the cost of carbon capture, and develop and commercialise the hydrogen value chain. And people need to be empowered to work together, break out of their silos, and unify around a common cause.”
Dr. Al Jaber noted the financing gap between the world’s climate ambitions and what will be required to meet the world’s climate goals.
“The entire financial community needs to play a bigger role. In 2022, the world invested US$1.4 trillion in the energy transition. According to the IEA, we need over three times that amount. Capital must come from all sources: governments, the private sector, institutional investors, private equity, industry, and international financial institutions.”
He emphasised that when it comes to financing the energy transition, “we must ensure that no one is left behind”.
“Only 15 percent of clean tech investment reaches developing economies in the Global South, and that is where 80 percent of the population live. That’s why we need to think seriously about fundamental reform of IFIs and the multilateral banks to unlock concessional finance, lower risk and attract greater private investment.”
Dr. Al Jaber outlined several key priorities for the energy sector saying, “As a nascent technology, entrepreneurship, partnership, and collaboration will be key to building out the entire hydrogen value chain. And we in the UAE are ready to partner with all those who want to join us to make it happen.
“Our quickest win will come from energy efficiency. Let’s work with customers to improve energy efficiency, while increasing access to zero carbon energies. And let’s stay laser-focused on our objective of rolling back emissions.”
Noting the historic opportunity presented by the global energy transition, Dr. Al Jaber said, “Transforming the world’s energy systems represents the greatest opportunity for human and economic development since the First Industrial Revolution.”
Dr. Al Jaber concluded his remarks by inviting all parties across government, the private sector and civil society to “cooperate, collaborate, share ideas and talk to us”.
He said, “Let me extend an open invitation to all parties across government, the private sector and civil society. And let’s remember that progress is made through partnership not polarisation. Let’s unite a divided world with a COP of solidarity, a COP of action and a COP for all. All of us need to be pulling in the same direction, because there is more energy in unity than division. We must have the will. We certainly have what it takes to make the difference. This is our moonshot. Failure is not an option.”
Following his remarks, Dr. Al Jaber participated in an interview with Daniel Yergin, Vice Chairman of S&P Global and Chairman of the CERAWeek conference, where he emphasised that the world “cannot responsibly unplug the energy system of today until the system of tomorrow is ready”.
He highlighted that “policies that aim to pull the plug on the existing energy system before a new one is built, are a recipe for future energy crises. As such, we have ramped up renewables as well as bringing decarbonisation technologies to scale”.
When asked about what he hopes to achieve at COP28, Dr. Sultan outlined the key priorities across mitigation, adaptation, loss and damage, climate finance, and process innovation. He reiterated that “COP28 will be a COP of action,” adding that “we want real results. The world must move from treaties to implementation. Solutions are needed inside and outside formal negotiations. It will also be a COP for all: inclusive of diverse stakeholders, accountable for commitments, and actionable on solutions”.
Source: WAM, Amjad Saleh/ Khoder Nashar
Nations have reached a historic agreement to protect the world’s oceans following 10 years of negotiations.
The High Seas Treaty aims to place 30% of the seas into protected areas by 2030, to safeguard and recuperate marine nature.
The agreement was reached on Saturday evening, after 38 hours of talks, at UN headquarters in New York.
The negotiations had been held up for years over disagreements on funding and fishing rights.
The last international agreement on ocean protection was signed 40 years ago in 1982 – the UN Convention on the Law of the Sea.
That agreement established an area called the high seas – international waters where all countries have a right to fish, ship and do research – but only 1.2% of these waters are protected.
Marine life living outside these protected areas has been at risk from climate change, overfishing and shipping traffic.
In the latest assessment of global marine species, nearly 10% were found to be at risk of extinction, according to the International Union for Conservation of Nature (IUCN).
The High Seas Treaty establishes marine protected areas in these high seas which will help achieve the global goal of protecting 30% of the world’s oceans – made at the UN biodiversity conference last year.
These areas will put limits on how much fishing can take place, the routes of shipping lanes and exploration activities like deep sea mining – when minerals are taken from a sea bed 200m or more below the surface.
Environmental groups have been concerned that mining processes could disturb animal breeding grounds, create noise pollution and be toxic for marine life.
The International Seabed Authority that oversees licensing told the BBC that “any future activity in the deep seabed will be subject to strict environmental regulations and oversight to ensure that they are carried out sustainably and responsibly”.
Rena Lee, UN Ambassador for Oceans, brought down the gavel after two weeks of negotiations that at times threatened to unravel.
Minna Epps, director of the IUCN Ocean team, said the main issue was over the sharing of marine genetic resources.
Marine genetic resources are biological material from plants and animals in the ocean that can have benefits for society, such as pharmaceuticals, industrial processes and food.
Richer nations currently have the resources and funding to explore the deep ocean but poorer nations wanted to ensure any benefits they find are shared equally.
Dr Robert Blasiak, ocean researcher at Stockholm University, said the challenge was that no one knows how much ocean resources are worth and therefore how they could be split.
He said: “If you imagine a big, high-definition, widescreen TV, and if only like three or four of the pixels on that giant screen are working, that’s our knowledge of the deep ocean. So we’ve recorded about 230,000 species in the ocean, but it’s estimated that there are over two million.”
Laura Meller, an oceans campaigner for Greenpeace Nordic, commended countries for “putting aside differences and delivering a treaty that will let us protect the oceans, build our resilience to climate change and safeguard the lives and livelihoods of billions of people”.
“This is a historic day for conservation and a sign that in a divided world, protecting nature and people can triumph over geopolitics,” she added.
Countries will need to meet again to formally adopt the agreement and then have plenty of work to do before the treaty can be implemented.
Liz Karan, director of Pews Trust ocean governance team, told the BBC: “It will take some time to take effect. Countries have to ratify it [legally adopt it] for it to enter force. Then there are a lot of institutional bodies like the Science and Technical Committee that have to get set up.”
Source: Esme Stallard, BBC News
With the global population growing at an unprecedented rate, the demand for resources is increasing. Adopting practices that use natural resources in a way that is both efficient and sustainable is crucial. Therefore the United Nations System Staff College (UNSSC) is delighted to announce the launch of a joint partnership with the United Nations Environment Programme (UNEP) offering a series of modules and learning paths on sustainable lifestyles, digital transformation, and tools to implement the Minamata Convention.
Recognizing the importance of sustainable lifestyles for achieving a sustainable future, UNSSC and UNEP have launched two innovative products aiming to foster individual action and commitment towards sustainable development. Adriana Zacarias, Head of Global Opportunities for Sustainable Development Goals (GO4SDGs), and Deputy Head of the 10YFP Secretariat, UNEP says, “This course is a tool to help everyone realize the power of their everyday choices to protect – or not – the environment. It brings in the science behind our lifestyles, offering inspiration and concrete actions for us to live lighter, contributing to a better planet for all”.
On World Environment Day in 2022, over 400 learners started the “My Sustainable Living Challenge” – an online gamified learning journey that nudges individuals towards behaviour change with practical commitments. Sustainable development practitioners from across sectors can sign up for a self-paced course which helps them examine how lifestyle choices impact the world around them, and find ways for everyone to live better and lighter. Lifestyles differ by community and region, and even though there is no “one solution fits all” when moving towards sustainable living, it is possible to come up with solutions and initiatives that are better adapted to each reality. This year (2023) the second edition will welcome 1000 users to take the challenge thanks to the programme being offered in four languages: English, French, Spanish and Russian.
Digital transformation is becoming increasingly relevant to achieving the 2030 Agenda for Sustainable Development. The digital revolution provides new technologies and innovative approaches that can help address global challenges. The Digital4Sustainability Learning Path, also co-designed by UNEP and UNSSC, explores how the potential of digital technologies can be leveraged to make the world more sustainable, equitable and peaceful. It is open to anyone curious to explore the answers to what role technology can play in advancing sustainable outcomes and what steps will be needed to get us there. So far the modules and learning path co-designed and co-developed with the UN Environment have already received almost 9,000 learners after a month of being open for registration. This only shows the huge demand for learning about living sustainably while leveraging digital technologies in order to transform societies.
UNEP is an important partner of the college helping provide participants with the knowledge and skills they need to develop sustainable lifestyles and harness digital technologies to achieve the 2030 Agenda. Through these various offerings, we hope to inspire people to take meaningful actions to create a better future for us all.
The Sustainable Lifestyles module and Digital4Sustainability Learning Path are offered free of charge for everyone.
Source: United Nations System Staff College
The Zayed Sustainability Prize, the UAE’s global award for recognising excellence in sustainability, has called small and medium enterprises, non-profit organisations and high schools to submit entries before the May 2, 2023 deadline.
Submissions will be accepted through the Prize’s online portal. Entries have been invited in one of the five categories of Heath, Food, Energy, Water and Global High Schools.
The Prize’s 2023 award cycle received a record-breaking 4,538 applications from 152 countries, marking a 13% increase in submissions compared to the previous cycle.
Sustainable solutions
Commenting, Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Director General of the Zayed Sustainability Prize, said: “This year, the Prize celebrates 15 years of honouring the legacy of the UAE’s Founding Father, Sheikh Zayed, and accelerating sustainable development and humanitarian impact around the world. Since 2008, the Prize has, through the visionary leadership of the UAE, facilitated the delivery of sustainable solutions to vulnerable communities, improving access to reliable and affordable energy, safe drinking water, nutritious food and quality healthcare for millions. These efforts directly support the UAE’s broader aims to encourage international collaboration and build a sustainable and prosperous global economy.”
Dr Al Jaber added: “Importantly, the Prize has prioritised youth and empowers young people to lead in sustainable development. Through the Global High Schools category, the Prize provides opportunities for young people to build their skills in sustainability and leadership and encourages them to take an active role in supporting their communities and driving climate action.”
“The Zayed Sustainability Prize helps organisations and schools scale their solutions, enabling them to realise even greater impact and catalyse positive, transformational change. To date, the Prize has impacted the lives of over 378 million people around the world, including in Vietnam, Nepal, Sudan, Ethiopia, Maldives and Tuvalu.”
Prize money
The Prize’s $3 million fund rewards winners $600,000 in each category. The Global High Schools category is split into six world regions, with each school able to claim up to $100,000 to start or further expand their project. The six world regions of the Global High Schools category are The Americas, Europe & Central Asia, Middle East & North Africa, Sub-Saharan Africa, South Asia, and East Asia & Pacific.
Inspired by the sustainability and humanitarian legacy of the UAE’s Founding Father, Sheikh Zayed bin Sultan Al Nahyan, the Prize has, to date, recognised a total of 106 winners whose solutions or student-led school projects have positively transformed the lives of millions.
While the submission forms vary per category, core elements of each entry lie in the innovative, impactful and inspirational ways in which the proposed technology, applications and solutions aim to improve wellbeing and sustainability.
Improving access
For the Health, Food, Energy, and Water categories, organisations should demonstrate that they are improving access to essential products or services and have a long-term vision for better living and working conditions. For the Global High Schools category, their projects should be student–led, with emphasis placed on the students being actively involved in the planning, implementation, and monitoring processes.
The Zayed Sustainability Prize has a three-stage evaluation process, beginning with the due diligence conducted on all submissions to ensure that they meet the Prize’s evaluation criteria. This identifies the qualified entries and results in the selection of eligible candidates.
Following this, evaluations are undertaken by a Selection Committee consisting of category-specific panels of independent international experts. From this shortlist of candidates, the finalists are chosen and then sent to the Prize Jury who unanimously elect the winners, across all five categories.
Winners of the 2024 Zayed Sustainability Prize will be announced at an Awards Ceremony during the COP28 Climate Summit.
Over the last few years, companies have jumped into the climate fray with gusto, announcing net-zero commitments and speaking ardently about doing their part.
But talk is cheap, and decarbonization is difficult. While a third of the world’s largest companies have net zero goals, only 7 percent of those companies are on-track to meeting them. The rest are, intentionally or not, greenwashing.
Late last year, a United Nations-sponsored panel took aim at greenwashing, creating a framework for what a credible net-zero emissions plan looks like. The report, “Integrity Matters: Net zero commitments by businesses, financial institutions, cities and regions,” outlines the best thinking of 17 climate experts from around the world.
The outcome is 10 recommendations that could be used as a rubric for how seriously a company is taking its climate pledges and, hopefully, bring more integrity and trust to climate commitments across the board.
The main recommendations are that businesses should set science-based targets that are in line with limiting global warming to 1.5 degrees Celsius, and that they should develop plans to achieve net zero emissions by no later than 2050. In order to achieve this, businesses should take a holistic approach that addresses all of their emissions, including those from their operations, supply chains, and products.
Businesses need to take immediate action to reduce their emissions. This includes implementing energy efficiency measures, switching to renewable energy sources, and investing in low-carbon technologies. The panel also recommends that businesses engage with their suppliers and customers to encourage them to take similar actions.
Businesses should disclose their emissions, set targets, and provide transparent and verifiable information about their progress towards achieving net zero.
Businesses should invest in carbon sequestration and negative emissions technologies, such as reforestation, afforestation, and soil carbon sequestration, to remove and store carbon from the atmosphere.
In order to achieve net zero emissions by 2050, businesses will also need to innovate and develop new products, services, and business models that are low-carbon. This includes developing new technologies and processes that reduce emissions, as well as investing in research and development to create new products and services that are more sustainable.
The report also recommends that businesses work with governments and other stakeholders to develop and implement policies and regulations that support the transition to a low-carbon economy. This includes working with governments to develop carbon pricing mechanisms, such as carbon taxes and cap-and-trade systems, as well as supporting policies and regulations that encourage the development and deployment of low-carbon technologies.
In short, there is a lot that can and needs to be done and not very much time to do it. Procrastination is not an option for the planet or for the viability of individual businesses.
With multiple forces acting against global food security, researchers in Singapore have been innovating. Read their solutions that help combat food waste and obesity, while improving health and sustainable food production.
The global food crisis marches closer. Droughts and floods caused by climate change are threatening our ability to produce enough food for a growing global population. According to Intergovernmental Panel on Climate Change estimates, crop yields could fall by up to 25 percent by 2050.
Aside from this impact, the COVID-19 pandemic has disrupted supply chains which has also impacted food security. This has led to shortages in all manner of foodstuff from poultry to palm oil, as well as escalating food prices.
Geopolitical tensions and conflicts add to this growing food insecurity by limiting access to energy, creating rising inflation and debt.
At the same time, almost one-third – 1.3 billion tonnes – of the food produced for human consumption is wasted or lost every year, according to the United Nations. And all the while obesity rates are alarmingly high: 1.9 billion adults are overweight or obese according to the World Health Organization.
Against this backdrop, NTU researchers have devised innovative solutions so that we can provide for a sustainable future. They support the university’s commitment to mitigating our impact on the environment, which is one of four ‘humanity’s grand challenges’ that NTU has identified and seeks to address through its NTU 2025 strategic plan.
Fermenting food waste to produce food
Edible by-products from food manufacturing are a potential resource that can be tapped to sustainably increase food supply, reduce obesity and reduce food waste. Two such by-products are okara, the insoluble remains of soybeans from the production of soy milk and beancurd, and brewer’s spent grain, consisting of residual barley pulp from the beer industry.
Consisting mainly of soybean fibre, okara is rich in protein and nutrients such as carbohydrates. About 1.4 billion tonnes of okara is produced around the world each year, mostly by Asian countries, including Japan, Korea, China and Singapore.
Similarly, brewer’s spent grain is high in protein and fibre. Beer is the fifth most consumed beverage across the globe, the production of which creates approximately 39 million tonnes of spent grain each year.
With the help of microorganisms such as bacteria and fungi, the nutritional profile of okara and brewer’s spent grain can be increased.
Okara
In a study published in LWT – Food Science and Technology in December 2021, okara fermented with a mixed culture of the fungus Aspergillus oryzae and the bacterium Bacillus subtilis, commonly used to make soy sauce, was found to have the best total dietary fibre profile and highest content of phenolics – compounds with antioxidant properties.
“Fermentation is a way to repurpose okara, a major food manufacturing side stream that is often discarded, and transform it into a highly nutritious food,” said Dr Ken Lee, senior lecturer at NTU’s School of Chemistry, Chemical Engineering and Biotechnology, who led the study.
Dr Lee’s research has also shown that fermented okara can be used to combat obesity. In a collaboration with Waseda University in Japan, okara from Sing Ghee Beancurd Manufacturer, a leading producer of beancurd in Singapore, was fermented with the fungi Aspergillus oryzae and Aspergillus sojae, which are used to make soy sauce and miso. The findings of the study showed that after three weeks, rats that were fed a diet supplemented with the fermented okara gained the least weight, compared to rats given normal and high fat diets. They also had less visceral and subcutaneous fat and lower triglyceride and cholesterol levels.
Spent grain
Likewise, fermented spent grain can be made into a protein-rich food emulsifier. And, unlike commercial food emulsifiers from egg yolk, this novel emulsifier is derived entirely from plants.
In a study led by Professor William Chen, Director of NTU’s Food Science and Technology Programme, the product was made by extracting and drying proteins from the fermented grain.
The resulting plant-based emulsifier can replace dairy and eggs in condiments such as mayonnaise, salad dressings and whipped cream.
Compared to the store-bought version, mayonnaise produced with the plant-based emulsifier contained more protein and higher amounts of some essential amino acids as well as antioxidants.
The mayonnaise prepared with the NTU emulsifier also tasted identical to off-the-shelf mayonnaise, yet had improved texture and spreadability.
“Upcycling food waste such as spent grain for human consumption is an opportunity for enhancing processing efficiency in the food supply chain, as well as potentially promoting a healthier plant-based protein alternative to enrich diets,” said Prof Chen.
Food from unconventional sources
Besides turning food waste into food, alternative sources of food and ingredients may help to ease pressure on their supplies when they are disrupted. They may also reduce the negative environmental effects created by the conventional manufacture of these food products.
Meaty alternative
Recently, Prof Chen and his team have developed a nutritious fungi-based food product that resembles meat. The fungus Agaricus bisporus used to cultivate the product is the same one that grows button mushrooms. Grown on nutrient-rich common food waste such as soybean skin, wheat stalk and brewers’ spent grain, NTU’s fungi-based food product tastes more like meat and has a better nutritional content than proteins from peas, chickpeas, wheat gluten and soy.
Palm oil is the most widely consumed vegetable oil, found in many food products, ranging from chocolate to cooking oil.
However, the rapid expansion of oil palm plantations has been implicated in massive deforestation in several countries, destroying the habitats of endangered native wildlife.
Earlier this year, disruptions in palm oil production as a result of labour shortages from COVID-19 restrictions also resulted in soaring prices and a shortfall in production.
To alleviate these shortages, edible oils that can replace palm oil are being explored.
Microalga oil
In one study led by Professor Chen, a common microalga Chromochloris zofingiensis was cultivated and edible oils were extracted from it.
The findings of the research were that oil derived from the microalgae was healthier and more eco-friendly than palm oil. It contains more polyunsaturated fatty acids than palm oil, which can help reduce ‘bad’ cholesterol levels in blood and lower a person’s risk of heart disease and stroke.
The microalgae-produced oil developed in collaboration with scientists from the University of Malaya, Malaysia, also contains fewer saturated fatty acids, which have been linked to stroke and related conditions.
As the microalgae grow, they convert carbon dioxide to biomass relatively quickly. Hence, the scientists say that using microalgae to produce edible oil would also help remove carbon dioxide from the atmosphere, as the microalgae can convert it to biomass and oxygen via photosynthesis.
Prof Chen is currently working with local and international food companies to bring these food innovations from the laboratory to the market and onto our plates. Watch this space.
Source: https://www.newfoodmagazine.com/article/188449/food-solutions-for-a-sustainable-tomorrow/
This article is part of:World Economic Forum Annual Meeting
The world is in a precarious condition due to climate change. Not surprisingly, companies are facing immense pressure from investors and customers to improve their transparency and performance on ESG issues, and many are getting positive feedback for their success. But the current state of environmental, social, and governance (ESG) programmes is not making an adequate difference for climate change fast enough.
Although most businesses have the best intentions, that will not matter in the end unless substantial and demonstrable improvements are made. This starts with setting aggressive, impactful ESG goals. But developing ESG goals and then monitoring and making progress towards them is among the greatest challenges faced by global businesses today. The incoming data sources are complex and divided, leading to insufficient analyses, inconsistent reporting, and unfulfilled promises.
This is where artificial intelligence (AI) can be a game changer for managing ESG efforts and, ultimately, addressing climate change. AI can help move the needle in the right direction by providing comprehensive ESG management solutions, reporting capabilities, and actionable emissions insights for even the biggest enterprise.
The right tools for ESG metrics
Over the past two years, an increasing number of governmental bodies around the globe have enacted laws requiring corporations to report ESG metrics. In 2021, the European Commission adopted a proposal that will require companies to report on social and environmental impacts starting in 2024. The United Kingdom, Hong Kong, Singapore, and China have all updated their environmental and social disclosure guidance. And in August 2022, the US Securities and Exchange Commission proposed regulations to enhance and standardize climate-related disclosures.
But right now, most corporations are not yet prepared to meet these new requirements. They need automated solutions that integrate data and provide the full scope of emissions-tracking features and broader ESG performance management. AI is a big part of such a solution.
AI-powered solutions provide near real-time data fusion, validation and mapping to current standards and frameworks. For systems infused with AI, reporting is no longer a burden, and we can ensure the correct metrics are tracked. This includes Scope 1, 2, and 3 emissions, the last of which is notoriously difficult to track. This does require greater data collection and processing — mostly to track Scope 3 emissions — including the initial training for an AI model. However, once trained, the AI operates as inference that requires minimal computing resources.
And results show that corporations can make a difference simply by adopting a comprehensive tracking system. Those with automated solutions for emissions measurements are 2.2 times more likely to measure emissions comprehensively and 1.9 times more likely to reduce emissions in line with their ambitions.
Improved accountability
It’s increasingly clear that consumers and investors are becoming wise to greenwashing and false promises, while organizations are still struggling to implement sustainability solutions that provide meaningful climate action. The need to do so is urgent, for both the planet and to satisfy stakeholders. In research from PwC, almost half of investors surveyed expressed a willingness to divest from companies that aren’t taking sufficient action on ESG issues. The demand to succeed is not only external. Recruiters have also noticed that more and more employees favour companies with clear ESG commitments.
Initiatives that provide serious improvement for standardizing and delivering on ESG metrics can be delivered by AI solutions. This extends from ongoing operations all the way to reporting ESG outcomes. For example, AI-based predictive maintenance is how companies like Shell are delivering cleaner, safer, and more sustainable energy from existing assets as well as new renewable assets like wind farms. Shell’s investments improve the bottom line and the company’s impact on climate change.
Investing in these types of AI solutions isn’t just for tracking ESG metrics against goals. It is also about improving overall efficiency within the business, including improving supply chain logistics, demand forecasting, and optimizing sourcing and planning workflows — all of which can reduce emissions and a corporation’s impact on the climate.
Using AI to set and achieve better goals
The success of reaching any goal is limited by the target. And when that goal will be scrutinized by investors, customers, and employees — not to mention decide the future of our planet — choosing the right target is critical. We are past the point where companies can set incremental targets in response to growing global ESG pressures. For too long, organizations have been setting ESG goals without taking seriously the importance and challenge of making true, sustained progress.
Forrester reports that almost three-fourths of decision-makers of global enterprises say that they need a solution that allows them to better understand where they might be able to improve their ESG performance. The report also notes: “Firms must improve their internal data practices and find ways to bring more integrity to their ESG data so they can be more comfortable using it to make decisions.” That’s exactly where AI can help. AI can ingest enormous amounts of data, pull signal from the noise, and provide companies with a realistic roadmap and insights to meet ESG goals that truly make a difference in their bottom line and in their impacts on society and on the planet.
AI allows previously separated data streams to be integrated and reconciled and informs goal setting that takes the complete picture into account. When ESG metrics and financial data are divorced, companies fail to meet emissions goals. Corporations that connect all their relevant data within a unified AI platform — not just ESG and financial data streams — will benefit the most. When corporations can see the entire picture and understand all the ESG metrics, only then will we produce goals that provide meaningful change and avoid the worst effects of climate change.
Source: World Economic Forum https://www.weforum.org/agenda/2023/01/davos23-esg-sustainability-climate-change/
News about the environment can often be distressing, and this year was no exception. Despite increasing efforts to mitigate the worst effects of climate change, greenhouse gas emissions (GHG) reached an all-time high of 58 gigatonnes this year. Many countries, especially those in the Global South, have also been hit by record-breaking natural disasters, such as a flood in Pakistan that inundated one-third of the country in September.
Nevertheless, there are plenty of environmental achievements this year worth celebrating, and Eco-Business looks back at nine of the most significant ones.
UN Plastics Treaty
Earlier this March, representatives from more than 160 UN member-states endorsed a historic resolution at the UN Environment Assembly in Nairobi to end plastic pollution and forge a legally binding agreement that will address the full lifecycle of plastic waste by 2024.
Negotiations began during the UN Environment Programme meeting held in Uruguay earlier this month, but considerable differences in opinion have arisen between members of the High Ambition Coalition like the host country, EU members, Switzerland and Ghana, which wanted a treaty based on mandatory global measures, and countries like Saudi Arabia and the United States, which wanted country-driven pledges instead.
Nevertheless, many say the discussions demonstrated a greater understanding about the complexity and severity of plastic pollution.
“Plastics are not being seen as just a marine litter issue anymore. People are discussing plastic as a material made of chemicals,” explained Vito Buonsante, policy adviser for the International Pollutants Elimination Network. “There has been a narrative shift.”
Youth at COP27
Ugandan climate activist Vanessa Nakate takes part in the Fridays for Future strike alongside other interntional climate activists during the COP27 climate summit in Sharm el-Sheikh. Image: REUTERS/Emilie Madi.
There was no let up of “youth-washing” the COP27 climate summit this year, but many of the barriers that previously prevented youth climate leaders from being represented and included in the climate negotiations have been lowered. For example, Sharm el-Sheikh saw the establishment of the Youth Envoy, the first youth-led Climate Forum and the first Youth Pavillion.
One of the headline youth speakers, Ayisha Siddiqa from Pakistan, reiterated the importance of providing a space and platform specifically for the youth.
“This is for the youth, organised by us. Unlike [the] government and business areas, there’s no corporate branding everywhere… For me, the stakes are so high that I can’t just give up hope for change,” she said.
Fusion in the future?
The target chamber of the Lawrence Livermore National Laboratory’s (LLNL) National Ignition Facility, where 192 laser beams delivered more than 2 million joules of ultraviolet energy to a tiny fuel pellet to create fusion ignition on 5 December 2022. Image: LLNL/Damien Jemison.
Since the 1950s, scientists have repeatedly tried and failed to replicate the process of nuclear fusion, which is how stars like the Sun produce their energy. However, earlier this month, physicists at the Lawrence Livermore National Laboratory (LLNL) in California managed to produce a fusion reaction with net energy gain for the first time ever. Though experts estimate that the technology is still decades away from widespread adoption, this achievement could displace traditional energy sources like fossil fuels for good and produce potentially endless zero-carbon energy with less radioactive waste.
“The pursuit of fusion ignition… is one of the most significant scientific challenges ever tackled by humanity, and achieving it is a triumph of science, engineering, and most of all, people,” declared LLNL director Dr Kim Budil.
Brazil’s regime change
Luiz Inácio Lula da Silva, better known as Lula, campaigning in Belford Roxo. Image: Wikimedia Commons.
Jair Bolsonaro was the President of Brazil for only three years, but his administration has caused irreparable damage to the country’s environment by weakening environmental legislation, slashing budgets for scientific and environmental agencies and threatening Indigenous peoples’ rights. Under his rule, 34,000 square kilometres, or an area larger than the size of Belgium – has been removed from the Amazon rainforest.
In October, Bolsonaro lost the presidency to Luiz Inácio Lula da Silva, better known as Lula, by 1.8 per cent of the vote, but has yet to concede. Nevertheless, Lula’s strong stance against deforestation has brought new hope to environmentalists worldwide.
“There is no climate security for the world without a protected Amazon [rainforest]. We will spare no efforts to achieve zero deforestation and the degradation of our biomes by 2030. The fight against climate change will have the highest profile in the structure of my next government,” the president-elect promised in a speech at COP27. “Brazil is back.”
Australia turns a shade greener
Leader of Australia’s Labor Party Anthony Albanese (right) with his partner Jodie Haydon (left) addressing his supporters after former prime minister Scott Morrison conceded defeat in the country’s general election in Sydney, Australia on 21 May 2022. Image: REUTERS/Jaimi Joy.
Climate change was one of the most hotly debated issues during the Australian general election this May and tipped the scales in favour of a coalition between the Labor Party, Green Party and climate-focused independent candidates, ending nine years of rule under a coal and fossil-fuel friendly Liberal administration.
“This was the climate change election for Australia,” said Ben Oquist, executive director of independent think tank Australia Institute. “A decade of electoral frustration spilled over into a wave of support for candidates that supported stronger climate action.”
Although Labor has not ruled out the approval of new coal and fossil fuel projects, it has passed a bill to set into law Australia’s pledge under the Paris Accord to cut GHG emissions by 43 per cent from 2005 levels by 2030 in September this year.
Many Australians have taken the issue into their own hands as well. In October, the state of Victoria announced its ambitious goal of reaching 95 per cent renewable energy by 2035. The following month, shareholders of Australia’s largest power producer AGL Energy defied the board and elected all four directors proposed by the company’s top shareholder, tech billionaire Mike Cannon-Brookes, who publicly expressed his wish to end the country’s dependence on coal.
New solar landmark for India
Reena Ben works on a solar-powered sewing machine to stitch clothes in her one-room house in India’s first round-the-clock solar-powered village in Modhera, India. Image: REUTERS/Sunil Kataria.
Almost a thousand years ago, the Sun Temple of Gujarat was constructed in Modhera. A millennium later, Modhera continues to draw power from the sun as India’s first fully solar-powered village.
With financial and technical assistance from the Indian government, Modhera villagers like 42-year old widow Gadvi Kailashben were able to install solar panels on their houses, save on electricity bills and lighten their household expenditure.
“[Previously], I had to pay close to 2,000 rupees for electricity [a month]. However, with the installation of the solar [panels], my electricity bill is now zero. Everything from the refrigerator to the washing machine now runs on solar in my house… I can now use that money for daily household expenses and for the education of my children,” she said.
Biden’s Inflation Reduction Act
United States President Joe Biden signs the Inflation Reduction Act of 2022 during a ceremony at the White House in Washington D.C. on 16 August 2022. Image: REUTERS/Leah Millis.
“We’re going to fight for environmental justice and create clean energy jobs and apprenticeships in frontline [and] fence-line communities that have been smothered by the legacy of pollution,” Biden announced during the passage of the Inflation Reduction Act.
The Inflation Reduction Act, which authorised US$369 billion for climate and clean energy projects, is the largest ever climate investment package signed into law in the US. Included within the legislation is a nationwide programme to reduce methane emissions, US$135 billion of clean energy tax credits to accelerate renewable energy adoption, tax incentives to jumpstart electric vehicle adoption and US$60 billion in assistance for communities impacted by environmental pollution.
While European Union members say the Act may disadvantage their companies by denying US tax credits for foreign-made renewable energy tech components, Biden has said that the Act is open to adjustment. Overall, many independent analysts say the legislation will cut US GHG emissions by 40 per cent by 2030, and make clean energy more affordable to the general public.
Chouinard gives Patagonia away
Yvon Chouinard, founder of outdoor apparel brand Patagonia at his desk. Image: Patagonia/Campbell Brewer.
Seeing himself in a list of billionaire profiles kickstarted Patagonia founder Yvon Chouinard’s decision to give away his company for environmental causes.
“I was in Forbes magazine listed as a billionaire, which really, really pissed me off,” Chouinard recounted to the press. “I don’t have US$1 billion in the bank. I don’t drive Lexuses.”
In August, Chouinard irrevocably committed the company’s voting stock into the newly-established Patagonia Purpose Trust, which will be overseen by family members and their advisers to ensure that the outdoor apparel company continues to follow its socially responsible principles and fulfil its promise of giving away its profits to environmental causes, which amount to nearly US$100 million a year.
More controversial however was the donation of Patagonia’s common stock, which comprised the remaining 98 per cent of its overall shares, to the Holdfast Collective, a 501(c)(4) charity which allows it to make unlimited political donations.
Protecting wildlife at COP19
Abba Sonko and the Senegalese delegation at the CITES COP19 conference. Image: International Institute for Sustainable Development/Diego Noguera.
While appraisals of COP27 have been mixed, this year’s World Wildlife Conference held in Panama in November was considered to be largely successful. Representatives from more than 160 governments reached a record number of 365 decisions and adopted 46 out of the 52 proposals put forward.
As a result, over 500 species of flora and fauna, including 150 species of trees, 160 species of amphibians and over 100 species of sharks and rays such as the scalloped hammerhead shark will be protected under the regulations set by the Convention on International Trade in Endangered Species (CITES).
All eyes are now on whether the world can agree to protect 30 per cent of the Earth’s ecosystems by 2030 – a key agenda in an ongoing United Nations biodiversity conference.
Source: This article is third party content extracted from Eco-Business.
Author: https://www.eco-business.com/about/profile/39823/
The United Nations Biodiversity Conference (COP15) ended in Montreal, Canada, on 19 December 2022 with a landmark agreement to guide global action on nature through to 2030. Representatives from 188 governments have been gathered in Montreal for the past two weeks for the important summit.
Chaired by China and hosted by Canada, COP 15 resulted in the adoption of the Kunming-Montreal Global Biodiversity Framework (GBF) on the last day of negotiations. The GBF aims to address biodiversity loss, restore ecosystems and protect indigenous rights. The plan includes concrete measures to halt and reverse nature loss, including putting 30 per cent of the planet and 30 per cent of degraded ecosystems under protection by 2030. It also contains proposals to increase finance to developing countries – a major sticking point during talks.
The stakes could not be higher: the planet is experiencing a dangerous decline in nature as a result of human activity. It is experiencing its largest loss of life since the dinosaurs. One million plant and animal species are now threatened with extinction, many within decades.
The Global Biodiversity Framework
The GBF consists of four overarching global goals to protect nature, including: halting human-induced extinction of threatened species and reducing the rate of extinction of all species tenfold by 2050; sustainable use and management of biodiversity to ensure that nature’s contributions to people are valued, maintained and enhanced; fair sharing of the benefits from the utilization of genetic resources, and digital sequence information on genetic resources; and that adequate means of implementing the GBF be accessible to all Parties, particularly Least Developed Countries and Small Island Developing States.
United Nations Environment Program (UNEP) Executive Director, Inger Andersen, emphasized that implementation is now key: “Success will be measured by our rapid and consistent progress in implementing what we have agreed to. The entire UN system is geared to support its implementation so we can truly make peace with nature.”
The GBF also features 23 targets to achieve by 2030, including:
- Effective conservation and management of at least 30 per cent of the world’s land, coastal areas and oceans. Currently, 17 percent of land and *8 per cent of marine areas are under protection
- Restoration of 30 per cent of terrestrial and marine ecosystems
- Reduce to near zero the loss of areas of high biodiversity importance and high ecological integrity
- Halving global food waste
- Phasing out or reforming subsidies that harm biodiversity by at least $500 billion per year, while scaling up positive incentives for biodiversity conservation and sustainable use
- Mobilizing at least $200 billion per year from public and private sources for biodiversity-related funding
- Raising international financial flows from developed to developing countries to at least US$ 30 billion per year
- Requiring transnational companies and financial institutions to monitor, assess, and transparently disclose risks and impacts on biodiversity through their operations, portfolios, supply and value chains
Finance at the core
Finance played a key role at COP15, with discussions centring on how much money developed countries will send to developing countries to address biodiversity loss. It was requested that the Global Environment Facility set up a Special Trust Fund – the GBF Fund – to support the implementation of the GBF, in order to ensure an adequate, predictable and timely flow of funds.
Countries also approved a series of related agreements to implement the GBF, including on planning, monitoring, reporting and review, which are all vital to ensure progress is made – in the words of the GBF, to ensure that there is not “a further acceleration in the global rate of species extinction, which is already at least tens to hundreds of times higher than it has averaged over the past 10 million years.”
Source: https://www.unep.org/news-and-stories/story/cop15-ends-landmark-biodiversity-agreement
Porsche and several partners have started production of a climate neutral “e-fuel” aimed at replacing gasoline in vehicles with traditional internal combustion engines.
The German automaker, owned by Volkswagen, said Tuesday that a pilot plant in Chile started commercial production of the alternative fuel. By mid-decade, Porsche is planning to produce millions of gallons of the e-fuel.
Porsche expects to initially use the fuel in motor sports and at its performance experience centers, followed by other uses in the years to come. Ultimately, the plan is for the fuel to be sold to oil companies and others for distribution to consumers.
E-fuels are a type of synthetic methanol produced by a complex process using water, hydrogen and carbon dioxide. Companies say they enable the nearly CO2-neutral operation of gas-powered engines. Vehicles would still need to use oil to lubricate the engine.
In the pilot phase, Porsche expects to produce around 130,000 liters (34,342 U.S. gallons) of the e-fuel. Plans are to expand that to about 55 million liters (14.5 million U.S. gallons) by mid-decade, and around 550 million liters (145.3 million U.S. gallons) roughly two years later.
The Chilean plant was initially announced with Porsche in late 2020, when the automaker said it would invest $24 million in the development of the plant and e-fuels. Partners include Chilean operating company Highly Innovative Fuels, Siemens’ renewable energy unit and others.
Company officials say e-fuels can act like gasoline, allowing vehicle owners a more environmentally friendly way to drive. They could also use the same fueling infrastructure as gas, compared with the billions of dollars in investments needed to build a network of charging stations for electric vehicles.
But entirely replacing traditional fossil fuels with e-fuels would be difficult and extremely costly. In 2021, about 134.83 billion gallons of finished motor gasoline were consumed in the U.S., an average of about 369 million gallons per day, according to the U.S. Energy Information Administration.
Still, production of such a fuel would allow Porsche and others a way to continue producing vehicles such as Porsche’s iconic 911 sports car with a traditional engine alongside, or rather than, a new electric model. While electric vehicles can offer outstanding performance, their driving dynamics differ from traditional engines.
Porsche officials celebrated the beginning of the e-fuel production with the filling of a Porsche 911 with the first synthetic fuel produced at the site.
“The potential of eFuels is huge. There are currently more than 1.3 billion vehicles with combustion engines worldwide. Many of these will be on the roads for decades to come, and eFuels offer the owners of existing cars a nearly carbon-neutral alternative,” Michael Steiner, Porsche’s director of research and development, said in a release.
Steiner and others reiterated Tuesday that the development of the fuel does not change the company’s plans to have 80% of its lineup consist of EVs by 2030.
Source: CNBC/Press Release
