Happy Tuesday. Sunday (22 May) was the UN’s International Day for Biological Diversity so we’ve snuck in some nature-themed stories this week!
In today’s edition:
🔋 EU’s largest battery recycling plant
🛩 Enter sea gliders
🔌 Accelerating the energy transition
Big Business (2-minute read)
Michael Bloomberg (UN Climate Envoy) plans $242m investment in clean energy
The situ: Developing countries have growing populations and economies = rapidly increasing energy needs. Meeting these needs with clean energy will be key to limiting the warming effects of developing economies while also ensuring a fair and equitable energy transition. BUT the IEA has called out the 7x funding requirement for clean energy by 2030.
The plan… is for Bloomberg to invest in clean energy production projects across nations such as Bangladesh, Brazil and Kenya. Crucially, this will be done in coordination with local nonprofits and governments to identify each area’s unique energy needs so that appropriate spending strategies and projects are put in place.
EU’s largest battery recycling plant comes online – enough for all of Norway’s batteries
Hydrovolt, the largest battery recycling plant in Europe, has started operations in Norway. The plant is a joint venture between two Norwegian companies – Hydro, one of the world’s largest aluminium companies, and Northvolt, a battery producer. The new battery recycling facility has the capacity to process 25,000 EV batteries per year and recover 95% of the materials used.
Why?
- Suring up supply chains – Hydro gains access to recycled aluminium and Northvolt gains access to other components for reuse in new batteries.
Emissions: Recycled aluminium only takes about 5% as much energy to produce as primary aluminium – which will make the recycled batteries increasingly attractive as carbon taxes rise.
“Build a shared future for all life” urges UN chief on Biodiversity Day
The UN chief highlighted that biodiversity offers solutions for green and inclusive growth and, this year, governments will meet to agree on a global biodiversity framework with clear and measurable targets to put the planet on the path of recovery by 2030. Importance: If current negative trends in biodiversity are not addressed, they will undermine progress toward 8 of the Sustainable Development Goals.
🤖 Future of Tech (1-minute read)
Is it a boat?.. Is it a plane?.. NO – it’s a sea glider!
Hawaiian Airlines are investing in startup Regent, which is developing electric sea gliders that could replace commercial flights for shorter journeys between islands. The battery-powered sea gliders are a hybrid between a boat and plane flying close to the water’s edge. No silver bullet… Seagliders are designed for short-distance travel between island nations. For longer journeys (which require travelling overland) the debate is ongoing between electric/hydrogen/sustainable aviation fuel-powered planes.
Gro Intelligence Joins The Taskforce on Nature-Related Financial Disclosure (TNFD) Forum
Challenge… More than half of the world’s economic output – US$44 trillion – is dependent on nature. Yet most companies, investors and lenders today inadequately account for nature-related risks and opportunities in their decisions.
What’s TNFD: It is a global initiative with the mission to develop a disclosure framework for organisations to report and act on nature-related risks.
Gro? Gro ingests data from 40,000 sources (incl. crop forecasts, satellite images, and soil moisture) to provide insights into the impacts that climatic change is having and will continue to have on food products.
Impact = analytical firepower to the TNFD to help companies accurately assess nature-related risks and incorporate these assessments into long-term strategies.
💡Start-up Spotlight (1-minute read)
In preparation for the annual meeting in Davos, The World Economic Forum (WEF) has released a report on the Energy Transition Index – providing insight into navigating the clean energy transition through a turbulent economic and geopolitical environment.
Here are some headline points:
- The energy transition isn’t happening quick enough: Although steady progress has been made, the pace isn’t adequate to limit warming to 1.5C by 2050. The transition has faced challenges from rising demand for fossil fuels and high energy prices.
- Threats to a just energy transition: In 2021, the number of people without access to electricity grew to 768 million. A shift is required to optimise energy consumption through behaviour change and fourth industrial revolution tech.
- Energy diversity (and security) are in short supply: Globally 103 countries can be classified as lacking diversity in energy supply – putting energy security at risk. Diversifying the portfolio of domestic energy with low-carbon alternatives will improve countries’ energy security over the long term.
In summary… There’s an urgent need to accelerate the energy transition – even though the current market is volatile, this also presents an opportunity for action. Building up a diversity of clean energy creation methods will be the key to creating resilience and ensuring an equitable energy transition.
💭 Little Bytes
Quote: “Biodiversity is essential for achieving the Sustainable Development Goals, ending the existential threat of climate change, halting land degradation, building food security and supporting advances in human health” António Guterres, Secretary-general of the United Nations
Stat: Australia’s greenhouse pollution from coal is higher per person than any other developed country
Watch: Greenhouse drones track crop growth using space tech
🗞 In other news…
- Nissan and Mitsubishi collaborate to create an affordable EV that will cost $15k.
- A new facility to test tidal turbine blades under strenuous conditions is hoping to accelerate marine energy development.
- Starbucks adds abortion travel coverage to US health benefits as some US states impose tighter abortion restrictions.
- Brilliant Planet plans cheap, gigaton-scale carbon capture using algae
- Nature-based solutions are on the agenda at the WEF’s annual meeting at Davos
