Results for: Climate Change Mitigation

Rising sea levels pose a significant threat to coastal communities and low-lying countries worldwide. As polar ice melts at an accelerating rate, scientists are exploring technological interventions known as “polar geoengineering” to mitigate the impacts. These interventions include underwater curtains to protect outlet glaciers and boreholes to drain water from ice sheets. However, the proposals have sparked controversy, with critics arguing that they detract from decarbonization efforts and raise concerns about environmental impacts. The political and regulatory hurdles to implementing these projects are also significant, with international agreements and collaboration required.

FS, a leading ethanol and animal nutrition producer in Brazil, has completed technical studies proving the geological viability of injecting carbon dioxide (CO2) into the subsoil at its Lucas do Rio Verde facility. This breakthrough will make FS the world’s first ethanol producer with a negative carbon footprint and the first to implement BECCS (bioenergy production with carbon capture and storage) technology in ethanol production outside the U.S. The adoption of BECCS will prevent the release of approximately 423,000 tons of CO2 into the atmosphere annually, with the potential to scale up to over 1.8 million tons per year across FS’s operations. This innovative technology captures carbon and injects it into deep geological layers for safe storage for thousands of years, mitigating its impact on global warming. FS has been working on this project for four years, drilling a stratigraphic well to analyze rock formations. Studies confirmed the Diamantino rock formation’s suitability for CO2 injection at a depth of over 800 meters. FS aims to invest in equipment for capturing, dehydrating, compressing, and injecting CO2 underground once the activity is regulated. The project has received financial support from FINEP, a public agency promoting innovation. FS’s vision is to become the world’s largest producer of carbon-negative fuel, seeking to monetize the project through carbon credit sales and awaiting the approval of the legal framework by the Brazilian Senate.

On May 27, 2024, Vietnam Airlines made history by operating its first flight using Neste MY Sustainable Aviation FuelTM. The Airbus A321 was refueled with sustainable aviation fuel (SAF) at Changi Airport in Singapore for its return flight to Hanoi, Vietnam. This significant milestone marks the airline’s commitment to sustainability and its collaboration with supply chain partners to expand SAF usage, contributing to net-zero emissions goals and climate change mitigation efforts.

Eversource Capital, the Indian climate impact fund, is seeking to raise at least $1 billion to invest in companies across Asia. The fund will focus on themes such as water, food, agriculture, and recycling, with a particular emphasis on India and expanding into countries like Indonesia, the Philippines, Vietnam, and Bangladesh. Eversource’s team is actively looking for projects and companies that align with their climate mitigation and adaptation goals. The fund aims to provide an annual return of over 20% on equity investments, acting as a feeder to global investors and private equity firms.

Eleven EU member states, led by Germany and Ireland, are urging their counterparts to approve the Nature Restoration Law (NRL), a crucial piece of environmental legislation facing opposition as part of the backlash against the European Commission’s Green Deal agenda. The NRL, designed to address decades of biodiversity loss, aims to restore 20% of degraded marine and terrestrial ecosystems by 2030 and sets binding targets for specific ecosystems. With a vote on the law expected during the June EU Council summit, the letter signed by Cyprus, the Czech Republic, Denmark, Estonia, France, Lithuania, Luxembourg, Slovenia, and Spain highlights concerns over the ongoing lack of support for the negotiated agreement. The signatories emphasize the importance of environmental protection in the face of climate change and public expectations. The law’s passage requires a qualified majority, and a shift in stance by one opposing country could secure its approval.

Solus Power, a leading innovator in electric vehicle (EV) charging solutions, and QinetiQ, a global defense and security company, have signed a Memorandum of Understanding (MOU) to research and develop advanced EV charging solutions tailored to fleet charging and infrastructure, as well as the specific needs of the Ministry of Defence (MOD). The collaboration will leverage the expertise of both organizations to create cutting-edge mobile EV solutions and address challenges posed by climate change in the defense and security industry.

Maine is poised to harness the power of offshore wind, promising a greener future, economic prosperity, and a brighter outlook for its residents. The installation of floating offshore wind turbines aims to provide half of Maine’s electricity needs by 2040, utilizing the state’s abundant wind resources and the involvement of major energy companies. These turbines will be strategically placed 44 miles off the coast, avoiding fishing areas. The project is expected to create thousands of new jobs, giving Mainers more opportunities to build fulfilling careers in their home state. Offshore wind technology is already well-established and has proven successful in other parts of the world, making it a reliable solution. The development of offshore wind along the East Coast holds immense potential for the United States, with a goal of generating 30 gigawatts by 2030 and 110 gigawatts by 2050. This clean energy source will play a crucial role in phasing out fossil fuels, mitigating climate change, and improving air quality. To ensure the swift implementation of this transformative project, Maine residents are urged to rally behind their legislators and advocate for the rapid development of offshore wind.

Rebates tied to home energy efficiency created by the Inflation Reduction Act are expected to start flowing to consumers within months. The federal government is issuing $8.8 billion for Home Energy Rebates programs through states, territories, and tribes. New York is the first state to receive funding, with an initial allocation of $158 million. The rebates aim to partially or fully offset costs for efficiency projects like installing electric heat pumps, insulation, and Energy Star-rated appliances. The value of the rebates can reach up to $14,000 per household, depending on the state’s program design.