EU emissions fall by 8% in steep reduction reminiscent of Covid shutdown

The EU’s greenhouse gas emissions fell 8% last year, the European Environment Agency (EEA) has found, as the continent continues to close down coal-fired power plants and make more electricity from sun and wind. The steep drop in planet-heating pollution in 2023 is close to the fall recorded in Europe at the start of the Covid-19 pandemic, when travel restrictions grounded planes and shuttered factories. The report found the EU’s greenhouse gas emissions were now 37% below their levels in 1990.

The European Commission, which released a separate progress report in October, described the reduction as “very encouraging”. It said it “reinforced confidence” in the EU’s ability to meet its target of cutting emissions by 55% by 2030. But the EEA found there was still a gap to close. Current policies from member states are expected to reduce emissions by 43% only by 2030 from their 1990 levels. Planned measures that have not yet been rolled out would bring this up to 49% – still leaving a gap of six percentage points.

The average European has done more than most to clog the atmosphere with planet-heating emissions, but efforts in recent decades to cut pollution have narrowed the gap. The report found the average European emitted 7.26 tonnes of greenhouse gas pollution in 2023, slightly more than the global average of 6.59 tonnes.

Sources: The Guardian, European Commission

Barcelona is turning subway trains into power stations

Barcelona's subway system is using innovative technology similar to the regenerative braking found in hybrids and electric vehicles to generate electricity. Each time a subway train stops, the friction energy is converted into electricity, distributed throughout the subway system and used to power electric vehicle (EV) chargers in the city. The city's main transit operator, Transports Metropolitans de Barcelona (TMB), plans to expand the project, called MetroCHARGE, to include more EV chargers.

Every year, Barcelona’s subway system accommodates 440 million trips, with 165 stations connected by 78 miles of track. The transit agency plans to have 16 inverters installed by the end of September, expecting regenerative braking to provide 41% of the energy needed to power the trains. This will save about 3,885 metric tons of CO2 emissions annually. The project, although costly at about $8.6 million, is expected to pay for itself within four to five years through energy savings and revenue from the charging stations.

This approach has sparked interest from other cities, with TMB sharing information with officials from Vienna and a delegation from New Delhi. However, challenges remain including the high cost of retrofitting trains with regenerative braking and finding optimal spots for inverters and charging stations in densely populated areas. Nevertheless, the potential benefits of regenerative braking, including significant energy savings and reduced CO2 emissions, make it an attractive option for cities with extensive subway networks.

Sources: Reasons to be cheerful, The Cool Down

Cop16 Biodiversity key takeaways: major progress and deceptions

Nature conservation summit agrees global levy on drugs from nature’s genetics and stronger indigenous representation, but developing nations furious at unmet funding promises.

Governments have been meeting in Cali, Colombia, for the first time since a 2022 deal to stop the human-caused destruction of life on Earth. Countries hoped to make progress during the two-week summit on crucial targets such as protecting 30% of the Earth for nature and reforming parts of the global financial system that damage the environment.

Digital Sequence Information (DSI), genetic data from nature, is essential for commercial drug discoveries. This data is often freely accessed from global databases, causing resentment in countries where the data originates. Firms meeting two of three criteria - $50m sales, $5m profits, and $20m assets - will contribute 1% of profits or 0.1% of revenue to a DSI fund. This voluntary agreement, if adopted by national governments, could raise over $1bn annually for nature conservation. Half of these funds will go to Indigenous communities and a part will support developing countries.

For more than 20 years, Indigenous peoples and local communities have had an informal working group as part of the UN biodiversity process. This has been upgraded into a permanent body – meaning they can contribute to negotiations without being reliant on the goodwill of governments. Jennifer “Jing” Corpuz, a lead negotiator for the International Indigenous Forum on Biodiversity (IIFB), called it “watershed moment in the history of multilateral environmental agreements”.

One of Cop16’s priorities was to implement a strategy for raising money to fund nature protection. In 2022, countries had committed to raising $200bn a year by 2030, including $20bn to be given by richer countries to developing countries by 2025. It failed to do so. Governments also failed at Cop16 to sign off on how this decade’s targets would be monitored, something that was underscored as a key priority before the summit. After 23 targets and four goals were agreed upon at Cop15 in Montreal two years ago, it remains undecided how progress to meeting them will be officially tracked.

Sources: The Guardian, Novethic

Chancellor Scholz's promise to relax Supply Chain Act raises concerns for human rights

German Chancellor Olaf Scholz's pledge to reduce bureaucracy around the Supply Chain Act has raised concerns in the context of human rights. At the Employers' Day in Berlin, Scholz responded to the criticism from the President of the Employers Association, Rainer Dulger, about the high bureaucratic effort associated with the law, by promising, "That will go away."

However, this pledge raises important questions about the protection of human rights globally. The European Supply Chain Act, passed recently, is intended to strengthen human rights worldwide by holding large companies accountable if they benefit from human rights violations such as child or forced labor. Any relaxation of the law could potentially undermine these protections.

The coalition leaders had already agreed in July under pressure from the FDP to soften the Supply Chain Act. If this happens, the regulations would apply to significantly fewer companies than before, which might result in reduced oversight of human rights and environmental violations along their supply chain as stipulated in the law.

While businesses may welcome a reduction in bureaucracy, the implications for human rights protections globally underline the need for a balanced approach that safeguards against exploitation and abuse.

Sources: Novethic, Der Spiegel

Green Hydrogen in Morocco: A large-scale contract for TotalEnergies

-          Company: TotalEnergies

-          Sector: Energy

-          Clover rating: 4/10

A contract has been signed between the Moroccan government and TEH2, a joint venture between TotalEnergies and the Eren Group. This is a project with a capacity of 1 GW. Located near the Atlantic coast, in the Guelmim-Oued Noun region, the Chbika project aims to build 1 GW of onshore solar and wind capacities that will power the production of green hydrogen through the electrolysis of desalinated seawater. It will be used to produce 200,000 tonnes per year of green ammonia for the European market.

"This agreement fits into our strategy to develop exportable production in countries with the most competitive renewable resources such as Morocco," comments Patrick Pouyanné, CEO of TotalEnergies. "Thanks to its geographical proximity and the quality of its wind and solar resources, Morocco indeed has the best assets to become a major partner of Europe in achieving the objectives of the Green Deal, and TotalEnergies is ambitious to contribute to it."

Source: H2Today

Volkswagen to shut down three factories, axe jobs and cut pay by 10%, according to union

-          Company: Volkswagen

-          Sector: Automobiles

-          Clover rating: 4/10

Volkswagen is planning to shut at least three factories in its home country, lay off thousands of workers and cut pay by 10%, according to the company’s union. The deeper-than-expected cuts come as the company faces weak sales and slow expansion in the electric vehicle (EV) sector amid tough competition from Chinese manufacturers. “The board wants to close at least three factories in Germany,” said the works council chief Daniela Cavallo.

Car companies are complaining of falling demand in many key markets after interest rates rose in recent years after the historic lows of more than a decade that followed the global financial crisis. Germany’s traditional manufacturers, including BMW, Mercedes-Benz and Porsche, have reported falling profits as Chinese sales in particular struggle.

At the same time, incumbent carmakers such as Volkswagen are having to come up with major investments needed to switch production from petrol and diesel to battery electric, while facing Chinese rivals who enjoy lower costs. Some factories had already been switched over, but slowing growth in demand for EVs has made companies less keen to make the job-saving investments.

Sources: The Guardian, Reuters

Exxon CEO urges Trump to stick with Paris climate pact

-          Company: Exxon Mobile

-          Sector: Energy

-          Clover rating: 1/10

Exxon Mobil CEO, Darren Woods, has advised President-elect Donald Trump against withdrawing the U.S. from the Paris climate pact. Woods argued that by being part of the agreement, the U.S. could influence and promote "common sense" carbon-reducing policies on a global scale. He emphasized that participating in the pact rather than exiting it would allow the U.S. to balance emissions reductions with the need for affordable energy.

Trump has previously indicated his intention to withdraw from the Paris Agreement, a move Exxon Mobil opposed in 2017. However, his energy policy, which focuses on increasing American energy production, may contradict the oil industry's focus on shareholder returns. Trump also plans to ease certain regulations which could affect the industry's ability to operate and access foreign markets. These markets are progressively concentrating on the carbon intensity of imported fuels.

Woods also highlighted the importance of government policies in encouraging investment in energy transition. He stated that transitioning to a less carbon-intensive system would require significant funding and increased costs. Therefore, a transition that allows companies to make a profit and generate returns is crucial to drive the necessary investment.

Sources: Transport Topics, The New York Times

Devastating rainfall hits Spain in yet another flood-related disaster

In October, Spain has been severely impacted by extreme rainfall, particularly the Valencia region, which received over 300 l/m² in many areas, according to AEMET - Agencia Estatal de Meteorología. The extreme weather event resulted in over 200 deaths, significant property damage, and tens of thousands left without power in Valencia. The Spanish government declared three days of national mourning. These floods are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s said citing official estimates.

Legend: accumulated rainfalls on the 29th of October 2024.