Newsletters > CP Daily: Thursday February 15, 2024

CP Daily: Thursday February 15, 2024

Published 03:33 on February 16, 2024  /  Last updated at 03:33 on February 16, 2024  / /  Newsletters

A daily summary of our news plus bite-sized updates from around the world.

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TOP STORY

Shortage of CORSIA credits yet to show on airlines’ radar

Airlines will face a challenge in finding credits to meet the first phase of the UN’s aviation emission scheme, known as CORSIA, although the impending shortage is yet to flash on their radar, a webinar heard Thursday.

VOLUNTARY

Verra announces timelines for REDD+ overhaul, schedules new methodologies for 2025

Verra’s Forest Carbon Strategy for 2024-26 will see numerous developments occur under the umbrella of overhauling the standard’s REDD+ methodologies, as announced in a webinar the registry held Thursday.

Carbon removal credits trade on CBL platform for first time

Durable carbon dioxide removal (CDR) credits have traded on the CBL exchange for the first time, marking a milestone in the nascent sector’s evolution into the mainstream voluntary market.

Voluntary carbon standard to explore mining sector potential for permanent removals

A voluntary carbon market standard and registry has launched an initiative to explore opportunities for removals projects in the mining sector with a focus on mineralisation and enhanced rock weathering activities.

Researchers tap AI to create new class of carbon-capturing materials that “exhibit great promise”

Researchers have used artificial intelligence (AI) to create a new class of materials that they believe “exhibit great promise” and could revolutionise carbon capture technology.

Egypt approves certifiers for stalled national voluntary carbon market

Egypt’s nascent voluntary carbon market (VCM) received a push on Wednesday as the country’s Financial Regulatory Authority (FRA) officially approved three verification and certification bodies.

Bank-backed voluntary carbon network appoints former BP chief as chair

A voluntary carbon credit transaction network developed by several global banks has this week appointed the former head of oil major BP as its chairman.

Veteran CEO of US-based clean cookstove project developer steps down

The founder and CEO of one of the biggest carbon project developers in the voluntary market is stepping down from his leadership position, while announcing his successor.

INTERNATIONAL

Carbon intensity, not colour, will determine future of low-carbon hydrogen -report

There needs to be a better understanding of the global value chain of hydrogen production and governments must make regulations based on its carbon intensity rather than colour, a report by an energy consultancy said Thursday.

Stringent maritime targets urgently needed to align with IMO strategy -report

International shipping targets would need to be “very stringent right from the start”, to align with the International Maritime Organisation (IMO) strategy and reach net-zero emissions by 2050, according to a report released Thursday.

Future JETPs need greater coordination and more finance to be scalable, say NGOs

The current model of just energy transition partnerships (JETPs) to help developing countries decarbonise is not working, and an improved model should be created, according to a paper published Thursday by philanthropic and environmentalist NGOs.

EMEA

Germany removes spare EU carbon permits freed up by coal exit from market -media

EU carbon allowances that are no longer needed by German coal power plants being retired as part of a state-enforced coal exit are to be permanently removed from the market, the government told a media source.

Euro Markets: Short-covering rally boosted by media reports of German EUA cancellation

European carbon prices recorded a successive rise on Thursday, rising more than 4.3% at one point as short-covering was bolstered by media reports that Germany will cancel surplus coal exit-related EUAs, while the wider energy complex snapped a six-day losing streak after the EU said it would not look to extend agreements to ship Russian gas through Ukraine.

France urged to double down its renewables energy – media

The French government needs to set an ambitious 2030 renewable energy target, said European Energy Commissioner Kadri Simson, who spoke on Thursday to lawmakers in the European Parliament’s committee on Industry, Research and Energy (ITRE).

Carbon capture a hot potato to pass to new class of European co-legislators

Carbon capture is expected to be a task for the next European commissioners, due to be nominated after the European Parliament’s elections on June 6-9, experts warned on Thursday.

AMERICAS

Alberta TIER regulation includes flaring into covered emissions, boosts compliance flexibility

Parameters for carbon capture and storage (CCS) offset credits types, a wider range of emissions covered within industrial facility boundaries, along with tightening benchmarks and added compliance flexibility were some of the Technology Innovation and Emissions Reduction Regulation (TIER) changes the Alberta government presented in a webinar Thursday.

US House passes bill to lift pause on LNG export approvals

The Republican-controlled US House of Representatives on Thursday passed a bill to resume liquefied natural gas (LNG) export approvals by granting the Federal Energy Regulatory Commission (FERC) the sole discretion to approve export facilities, effectively excluding the Department of Energy (DOE) from the process.

US govt allocates $20 mln to help Native Americans access private investment for climate mitigation, forest resilience

The US government has allocated $20 million to help Native Americans tap private markets for investment in forest resilience and climate mitigation.

WCI Markets: CCAs decline into Q1 auction, WCAs see days without trade

California Carbon Allowance (CCA) prices declined on greater volumes leading into the first auction of 2024, while Washington Carbon Allowance (WCA) prices moderately shifted on thin volumes.

California commences development of fifth investment plan for cap-and-trade auction proceeds

California regulator ARB on Thursday hosted the first public workshop to develop the fifth investment plan for cap-and-trade auction proceeds, as panellists emphasised prioritising support for disadvantaged communities.

US fossil fuel exploration firm reaches multi-million dollar settlement for air pollution violation

A Texas-based oil and gas producer has agreed to pay $4 million in fines for failing to comply with air quality regulations in two US states, and will also spend $5.5 mln to prevent future emissions, the US Department of Justice (DOJ) confirmed.

More action needed to overcome US renewable energy supply chain problems -industry panel

Further steps need to be taken to secure minerals and materials needed to overcome issues plaguing the development of renewable energy sources in the US, a panel of energy industry representatives said Thursday.

Brazil records lowest carbon emissions generated by electricity in 11 years

Brazil’s main transmission network last year recorded the lowest rate of emissions per unit of power generated since 2012, as the country sourced more electricity from hydropower and wind, Brazil’s Ministry of Mines and Energy announced Wednesday.

AVIATION

Aviation knuckles down on increasing green fuel supply as United grows SAF fund

New corporate partners are joining the push by United Airlines to scale up sustainable aviation fuel (SAF) by way of a dedicated fund, as e-fuel company OXCCU moves to start construction on its first demonstration plant in the UK.

ASIA PACIFIC

Singapore, Indonesia sign CCS collaboration agreement

Singapore and Indonesia have signed a letter of intent (LoI) to collaborate on cross-border carbon capture and storage, they announced late Thursday.

Japanese exchange operator taps into Vietnam carbon market

A Japanese carbon marketplace operator has secured a strategic partnership with one of the largest IT companies in Vietnam as its latest foray into the Southeast Asian market.

Japanese shipping firm completes blockchain-backed insetting pilot

A Japanese shipping giant has carried out an insetting pilot featuring the tokenisation of emissions reductions as part of a broader target to decarbonise its supply chain, it announced Thursday.

Australian bank partners with agricultural emissions measurement platform

One of Australia’s major banks has launched a pilot with an emissions platform company to model how farming practices could be changed to reduce GHG emissions, it announced Thursday.

BIODIVERSITY (FREE TO READ)

Swiss tech firm partners with German investor to develop nature-based solutions

A Swiss climate solutions and technology company and a German impact investor have teamed up to develop nature-based solutions aimed at tackling biodiversity loss.

UN migratory species meeting announces global habitat connectivity initiative

A global initiative to identify, protect, and connect areas critical to migratory species has been launched at the ongoing 14th Conference of the Parties to the Convention on the Conservation of Migratory Species (CMS) in Samarkand, Uzbekistan.

Mexico strengthens ties with local communities to ramp up voluntary land conservation

The Mexican federal environment agency has worked with local communities to expand its programme for voluntary land conservation to protect more than 1.5 million hectares in total.

Scottish highland estate to generate biodiversity credits

An environmental consultancy is helping a client prepare to generate biodiversity credits from a 2,000-hectare estate in the Scottish highlands, in collaboration with RePlanet.

INTERVIEW: Smaller developers in danger of bearing unnecessary biodiversity net gain costs

Smaller developers in England could incur unnecessary costs while aligning with the country’s biodiversity net gain (BNG) policy, with worse outcomes for nature, a consultant has said.

Solar farm developer commits to protecting biodiversity as UK project sparks criticism

A solar farm developer has committed to adopting measures to protect and enhance biodiversity, as criticism has mounted in recent weeks over the company’s plans to build a facility in the UK.

Biodiversity Pulse: Tuesday February 15, 2024

A twice-weekly summary of our biodiversity news plus bite-sized updates from around the world. All articles in this edition are free to read (no subscription required).

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CONFERENCES

Carbon Forward Asia – March 7-8, Singapore and online: Our conference is anchored on relevant, current content shining the spotlight on opportunities and risks in the Asia-Pacific region. Organised by Carbon Pulse, Redshaw Advisors, and others working in the sector, the agenda will delve into pressing topics with regional and international leaders. With half of all ASEAN countries in the process of establishing domestic carbon markets, we’ll examine at the region’s emerging markets – both compliance and voluntary. And as China prepares to relaunch its CCER offset scheme, we’ll look at domestic demand and possible impacts on voluntary projects. The event will discuss what impact the EU’s Carbon Border Adjustment Mechanism (CBAM) will have. (On Mar. 6 there’s a separate CBAM workshop comprising everything you need to know). Conference attendees will also hear about CORSIA, Article 6, COP29, removals, nature-based solutions, and so much more. Carbon Forward Asia is also a meeting hub for corporates, investors, financiers, bankers, brokers, representatives from industrials, shipping and aviation, oil and gas, utilities, energy, traders, regulators and policy makers, carbon market analysts, project developers, exchanges, rating agencies, and NGOs. Register now!

North American Carbon World (NACW) 2024 – March 19-21, San Francisco: Attend NACW 2024 to learn, collaborate, and network with the North American carbon community and provide a stronger, unified force in advancing climate solutions. Hosted by the Climate Action Reserve, NACW will dive into major new policies, innovations, and developments that will shape and scale carbon markets and climate solutions with integrity and ambition. In addition to outstanding speakers, discussions, and insights, NACW provides premier networking opportunities with an active and engaged audience of leading climate and carbon professionals from all sectors of the economy. www.nacwconference.com

European Climate Summit – April 16-18, Florence: To kick off its annual regional climate summit series this year, IETA looks forward to welcoming delegates to its flagship ECS2024 event, taking place in Italy. ECS comes at a key inflection point for the region’s carbon market. How will the European carbon market evolve in its next phase, which starts in 2031? Around the world, carbon markets are emerging at the fastest ever pace, with new emissions trading systems being developed from Brazil to Vietnam. More markets may mean more opportunities for international cooperation and linking, and some of these could come to Europe. The health of the voluntary carbon market is also a hot topic this year, as the market works to overcome challenges. Environmental integrity and robust quality assurance are at the top of everyone’s mind, and IETA’s ECS2024 will address these issues as well. To register, simply click HERE to join as a delegate. In-person event.

Carbon Forward North America – June 11-12, Toronto: Join us in the Great White North to hear about the evolving carbon pricing and climate policy landscape in North America. Whether you are an emitter, investor, developer, or a new participant in any of the continent’s carbon markets – compliance or voluntary – Carbon Forward North America offers you the opportunity to gain knowledge on both present and future policy developments and market opportunities. Explore the chance to meet the right people or source the right solutions to help you enhance your business prospects or minimise your risk. Come meet the region’s world-leading carbon market experts, compliance players, government officials, investors, project developers, analysts, brokers, and other stakeholders. Agenda to be released soon. To express an interest in speaking or sponsoring, please email michelle@carbon-forward.com

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BITE-SIZED UPDATES FROM AROUND THE WORLD

INTERNATIONAL

A global tussle – The world’s largest manufacturer of solar panels has warned that Europe and the US risk slower decarbonisation of their economies if they restrict Chinese companies from their value chains. China dominates solar making with about 80% of global production, but Western political and industry leaders have called for greater diversity of supply amid a glut of Chinese imports. Europe produces fewer than 3% of the solar panels needed to reach its 2030 target for 42.5% of energy to be generated by renewable sources. The vice-president of Longi Green Energy Technology, Dennis She, told the FT that western countries would “at least slow down” their transitions away from fossil fuels if they were to cut back on Chinese solar supplies. The company has around 20% of the global market for photovoltaic modules.

EMEA

Carbon taxes run deep – Guinea is set to implement a carbon tax on its mining sector as part of efforts to fund development projects, with plans to raise billions of dollars through discussions with investors from the UAE. PM Bernard Goumou, speaking at an investor forum in Dubai, outlined the government’s intention to mitigate the environmental impact of mining activities, including emissions and deforestation. As a leading producer of bauxite, gold, and possessing significant iron ore deposits, Guinea’s mining industry, which relies heavily on fossil fuels, faces changes aimed at preserving the country’s ecological integrity and fostering a sustainable economy. The initiative also seeks to address pollution and health risks, reflecting an increased funding target from $3.4 billion to $4.3 billion for the nation’s development programme – a $16.6 bln initiative that aims to finance dozens of infrastructure projects as well as the electoral process supposed to end a military transition underway since September 2021. (Bloomberg)

Net zero dark side – As the European Parliament and national governments agreed last week to boost domestic production of green technologies, the 2023 Renewable Energy & Human Rights Benchmark highlighted that any expansion of the sector is only set to exacerbate its risks. According to the report: only two benchmarked companies (EDF Renewables and Orsted) have a robust policy in place committing to respecting Indigenous rights, none of them has adopted a public policy supporting community ownership of renewable energy projects, no solar company in the benchmark currently discloses its full supply chain, and only one company (Orsted) has adopted measures to ensure its mineral supply chains are not tainted with abuses. Read more on the green transition’s collateral damages.

Gettin Hy – The EU Commission has approved, under EU State aid rules, a third Important Project of Common European Interest to support hydrogen infrastructure. France, Germany, Italy, the Netherlands, Poland, Portugal, and Slovakia took part in this initiative, providing up to €6.9 bln in public funding. It will support the deployment of 3.2 GW of large-scale electrolysers, new and repurposed hydrogen transmission and distribution pipelines of approximately 2,700 km, large-scale hydrogen storage facilities with capacity of at least 370 GWh, and the construction of handling terminals and related port infrastructure for liquid organic hydrogen carriers to handle 6,000 tonnes of hydrogen a year.

Play by our rules – People who don’t buy into the green objectives of the European Central Bank aren’t welcome to work there, according to Frank Elderson, one of six members of the ECB’s executive board, who reportedly said so in an internal meeting, Politico reports. ECB staff are outraged in response, calling the comments “authoritarian” and complaining that an open and frank discussion about climate change is no long possible at the bank. The Dutchman’s remarks have broader significance because the ECB is embroiled in a debate around to what extent its policies should steer toward making the economy “greener,” or whether it should just stick to its main goal of keeping eurozone prices stable. A recent survey showed that most ECB staff support the central bank’s increased efforts to fight global warming, though the response to Elderson’s remarks suggest some are wary of turning the subject into a cultural one.

Know your CBAM – The World Cement Association joined a communication campaign to support the roll-out of the EU’s CBAM. Entered into force on Oct. 1, 2023, the mechanism affects the imports into the 27-nations bloc of seven carbon-intensive goods most at risk of carbon leakage: iron, steel, aluminium, cement, fertilisers, as well as hydrogen and electricity. The WCA recognised the importance of providing its members with the necessary tools and resources to navigate the complexities of the CBAM regulation. All coverage here.

Off track – Europe’s train routes are vulnerable to climate change, a Bloomberg feature highlights. With extreme weather events, such as floods and heatwaves, posing a serious threat to rail infrastructure, disruptions and damages to tracks are likely to continue to rise. The continent faces financial challenges associated with enhancing resilience as rail operators and governments face significant costs in implementing necessary infrastructure upgrades and maintenance to withstand the impact of climate-related challenges. The high price tag raises concerns about the feasibility of such measures within existing budget constraints. Europe’s rail network is crucial to a wider continental push to reduce fossil fuel use in the transport sector.

How bad it is – Member states are due to submit their final National Energy and Climate Plans (NECPs) update in June. CAN Europe launched on Thursday a new tracker tool, which is already showing things are not going that well. Despite marginal improvements compared to the previous NECPs cycle, the climate and energy trajectories towards 2030 of the new drafts are not in line with the Paris Agreement. In many cases, the draft plans even fall short of meeting the EU’s own 2030 climate and energy targets. The tracker shows that most of the new plans lack key sectorial targets that would be crucial for an effective implementation. An example? Agriculture, of course.

Leading the way – Ethiopia has become the first country in the world to ban the import of all internal combustion engine cars. The country’s transport minister announced that unless automobiles are electric, they will not enter the East African nation. It is still unclear on when the new policy will come into effect or whether it will affect global carmakers who have local assembly units in the country. Ethiopia is also planning to reduce its import dependency on fossil fuels, which will also help balance its foreign exchange resources.

Strengthening businesses – FSD Africa, a non-profit funded by the UK government has signed a deal with promoter African Guarantee Fund to provide green small and medium enterprises (SMEs) with financial support, technical assistance, and capacity building in Kenya, The Star reported. Under the deal, partial credit guarantees for bonds and funds will be raised on behalf of SMEs. By supporting the SMEs, the financial institutes intend to reduce the country’s CO2 emissions, thereby generating employment for youth and women in the process. According to the World Bank estimates, Kenya needs over $5 bln annually for climate and nature financing by 2030.  Through the partnership, SMEs will be able to access affordable funds and invest in low carbon and climate resilient businesses.

Sizeable investment – Centrica is mulling investing in the UK’s planned nuclear power station Sizewell C in Suffolk, helping to bring the multi-billion-pound project to financial close, Bloomberg reports following a media briefing by Centrica CEO Chris O’Shea Thursday morning. The UK government has been working to assemble a group of private investors to back the plant and Centrica has been active in those discussions, he said. The 3.2 GW plant is key to enabling the UK to meet its net zero ambitions.

A fair return – Reduction of CO2 emissions and achievement of a net positive impact on biodiversity feature under the earning criteria of UPM’s Performance Share Plan, the Finnish forest industry company has announced. UPM’s Board of Directors has approved the start of new plans for 2024–2026 within the company’s two long-term share incentive arrangements: the Performance Share Plan (PSP) and the Deferred Bonus Plan (DBP). The PSP is targeted at the President and CEO, Group Executive Team members and other select senior management members, while the DBP is targeted at other key employees. The earning criteria for the earning period 2024–2026 of the PSP are the total shareholder return and selected responsibility performance measures during 2024–2026. Responsibility measures comprise the reduction of fossil CO2 emissions from UPM’s on-site combustion and purchased energy, the achievement of a net positive impact on biodiversity in the company’s own forests in Finland, and the achievement of gender pay equity globally.

ASIA PACIFIC

H2 on board – The Indian government on Wednesday released guidelines for undertaking pilot projects for using green hydrogen in the transport sector, under the flagship National Green Hydrogen Mission. The Ministry of New and Renewable Energy and the Ministry of Road Transport and Highways will be responsible for implementing the projects. The scheme will support development of technologies based on fuel cell-based propulsion technology or internal combustion engine-based propulsion technology. It will also support development of infrastructure such as, hydrogen refuelling stations and innovations in blending of methanol or ethanol based on green hydrogen. The scheme will be implemented with a total budget allocation of about 5 bln rupees ($60 mln) until the financial year 2025-26.

New deal – LY Corporation, one of the largest internet companies in Japan, has signed a 10-year contract with Tajima Forest to secure domestically issued J-Credits in a bid to offset its Scope 1 and 2 emissions, according to a company statement released Thursday. LY Corporation, which aims to become carbon neutral by 2025, plans to purchase 1,500 credits from the forest management firm every year. The proceeds from the credit sale will be used for forest maintenance and reforestation, the statement said.

Call for participants – Blockchain company KlimaDAO Japan has issued a public call for participants in its pilot trading project, which includes the establishment of a carbon marketplace, it announced Thursday. The company has said it plans to kick off a trading platform where trading of tokenised J-Credits will begin as early as April. It will also support the procurement of overseas credits, such as CORSIA units, by leveraging KlimaDAO’s global network.

Exchange companions – Stock market exchanges in the Southeast Asia, including Bursa Malaysia, Indonesia Stock Exchange, The Stock Exchange of Thailand, and Singapore Exchange have collaborated to develop ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE) initiative to advance sustainable development in the region by implementing common ESG metrics in their respective data structures. Bursa Malaysia will serve as the secretariat and will facilitate the execution of the initiative. Through the initiative, the exchanges aim to assist ESG-compliant corporates in maximising business value through quality disclosures, the press release stated. Through the initiative, the exchanges aim to assist ESG-compliant corporates in maximising business value through quality disclosures, the press release stated. It will also involve connecting corporates’ supply chains to ESG-oriented investment capital, and providing suppliers with good ESG practices and disclosures to secure more competitive financing rates.

DEReform – There is at least A$19 bln ($12.3 bln) available in reduce or avoided network generation and costs by 2040 if Australia were to take full advantage of its distributed energy resources (DERs), according to a report published by the Institute for Energy Economics and Financial Analysis, published Friday. There is another A$10 bln in reduced generator super-profits from flattening the evening and summer peaks, according to the report author. It noted that further research is required to fully understand the economic value of DERs, which include rooftop solar, battery storage, and flexible demand. The report urged Australia to treat DER on equal terms as large-scal generation and transmission in terms of policy, planning, and regulation.

AMERICAS

Multi-state CCS – Nebraska-based energy company Tenaska, which is developing a tri-state CCS hub to serve emissions customers in Ohio, West Virginia, and Pennsylvania, is currently negotiating with landowners across eight counties in the three states, the Pittsburgh Post-Gazette reported Tuesday. The company looks to collect CO2 captured by industrial plants followed by injection into 20-30 wells across the three states. Underground, the CO2 would be spread across 80,000 acres (32,000 hectares) in a storage field capable of hosting 5 MtCO2 a year for 30 years. Tenaska was pulled into the region due to strong demand from industrial facilities, the Post-Gazette reported, and has a history of attempting CCS projects before. Tenaska’s first attempt at CCS was cancelled in 2013, folding on a settlement with Environmental Defense Fund to install carbon capture on a planned $3 bln coal plant. Tenaska was one of three fossil fuel generators who filed a lawsuit against PA’s linkage with RGGI in 2022.

Net zero freight – A number of Canadian sustainability players announced Canada’s first net zero supply chain pilot to decarbonise Canada’s freight-transportation sector on Wednesday. Events organiser Globe Forum, consultant Delphi, electric vehicle firm 7Gen and sustainability collective Profoundry launched the Net Zero Supply Chain Initiative, focusing the pilot on shipment from port to a store using net-zero technologies. The announcement detailed that this would take place within a 50-100km radius of the Port of Vancouver on Canada’s West Coast, and will later apply learnings to Eastern Canada.

Energy storage – The Canada Infrastructure Bank (CIB) committed C$138.2 mln ($102.6 mln) to the development of Atlantic Canada’s largest planned energy storage project, the firm announced Thursday. Provincial electric utility Nova Scotia Power will receive a loan of C$120.2 mln while Wskijinu’k Mtmo’taqnuow Agency, an economic limited partnership owned by 13 Indigenous Mi’kmaw communities, will receive an equity loan of up to C$18 mln. The investment will support Nova Scotia’s plan to retire coal-based power generation and reach 80% renewables by 2030, the bank announced. The project is composed of three facilities, of which the first site is anticipated to be operational in 2025. The announcement detailed that the facilities are key to help reduce Nova Scotia Power’s greenhouse gas emissions by 98,000 tonnes annually.

VOLUNTARY

API to meet you – Switzerland’s Carbon Standards International AG announced a collaboration with removals firm Cula Technologies to boost voluntary carbon data transfer between the two. Moving away from traditional methods such as manual spreadsheets and email exchanges, Carbon Standards International will apply its API technology, with independent MRV systems, into the Global C-Sink Registry, ensuring a secure and efficient flow of data, the firms said on LinkedIn.  The aim is to improve efficiency, but also security and reliability in carbon credit transactions. The technology guarantees that each carbon credit is supported by a real-time data stream that accurately reflects on-the-ground processes, they claim.

Boreal forest safekeepers – Saskatchewan, Canada-based project developer Carbon RX announced a partnership Wednesday with the Misipawistik Cree Nation to preserve and protect traditional First Nations lands in the Manitoba boreal forest. While no project details were announced, the partners celebrated the voluntary carbon market as an opportunity for the community to generate revenues.

INVESTMENT

Footprint tracker – EIT InnoEnergy has invested in Carbon Centrum, a clean energy data startup. Carbon Centrum’s platform, available for corporate clients across sectors, autonomously tracks individual CO2 footprints, creating a Carbon ID with data-backed offsets, to support companies in achieving sustainability targets. Backed by EIT InnoEnergy, The CarbonID programme offers real-time Scope 3 measurements and offset strategies. The platform also allows for the tracking of employees’ carbon footprints. The primary focus is on larger companies with sustainability strategies in the mobility, energy, and retail sectors.

SCIENCE & TECH

AI in the sky – Google has teamed up with the Environmental Defence Fund (EDF) to combat global methane emissions using MethaneSAT, a cutting-edge satellite technology. Google will provide cloud services and AI technology to enhance the monitoring and mitigation of methane leaks from oil and gas infrastructure. The MethaneSAT satellite, developed by a coalition including Ball Aerospace and Harvard School of Engineering, will orbit Earth 15 times daily, pinpointing methane leaks with high precision. Google Cloud will process the data, and plans are in place to integrate MethaneSAT data into Google Earth Engine, facilitating public access to a regularly updated map of methane emissions. Scheduled for launch in early March from Vandenberg Space Force Base on a SpaceX Falcon 9 rocket, MethaneSAT aims to significantly improve the accuracy of emissions attribution. While there is no international rule for controlling methane emissions, many countries have committed to a voluntary methane pledge to cut energy sector emissions by 30% by 2030. The EU has also introduced policies to curb methane emissions, including leak repair mandates and a ban on flaring in the coal sector from 2025. (edie)

AND FINALLY…

A good dump – The UK’s Environment Agency has found that a Canadian company’s proposal to dump laxatives into the water off the southwest coast of England in a bid to remove CO2 from the atmosphere poses a low risk to the environment. Planetary Technologies and South West Water have proposed dropping tonnes of magnesium hydroxide – also known as milk of magnesia – in St. Ives Bay in Cornwall. However, opponents are concerned that changing the alkalinity of the sea could impact local floral and fauna. The agency’s finding came after small-scale trials, though it has yet to greenlight a full release. (Cornwall Live)

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