Walk, Recycle, Earn Tokens

07.07.2024

Imagine walking through the city or riding a bike in nature while at the same time contributing to the city by getting one more tree, feeding an animal or simply winning a theatre ticket.

In November 2023, the City&Me application was launched – an innovative platform designed to spread awareness about the importance of a sustainable future while motivating people to change their habits and the environment within the local community. The platform is the result of cooperation between Aleksandar Stamenković and Branko Krsmanović, who worked with a team of experts from the non-governmental, business and public sectors.

Our interlocutor, Aleksandar, explained to us the spectrum of possibilities offered by their invention and how it can be helpful in the formation of smart and sustainable cities. Since its launch, City&Me has managed to gather more than 15,000 people and provide support through local and national companies, cities, international organizations, numerous experts, and partners.

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Although it was created in Niš, the success led the founders to think about other cities, with the next one possibly being Kragujevac, where there is exceptional cooperation through the City&Me chatbot. The City&Me chatbot is designed to facilitate access to local news, such as information on public transport and details on cultural events or polls. The chatbot is integrated into the Viber application and can be used independently of the application services. Thanks to its integration into Viber, the City&Me chatbot reached a large number of users, namely over 100,000 people in Niš and Kragujevac. There are also plans to expand the application in the region.

“We can confirm with certainty that at least one of the regional cities will start using City&Me services by the end of July 2024”, said Aleksandar, without revealing which city he was talking about.

In terms of tokenization, City&Me uses a reward system to measure users’ green activities. Suppose you take 100,000 steps or cycle 100 kilometers in one month. In that case, the application automatically awards you a golden token that you can exchange for a seedling in the city park, which is marked in the digital green oasis and bears the user’s name. Furthermore, in cooperation with one of the companies, users win tokens by recycling electrical or electronic waste.

“Using tokens as an in-app currency creates a wide range of possibilities for users. Tokens can be exchanged for various rewards, services or discounts through the store available within the application. The prizes vary from theatre tickets, free meals and transportation discounts to seedlings planted in local parks or forests,” explains Aleksandar.

Prepared my: Milica Vučković

Read the story in the new issue of the Energy portal Magazine NATURE CONSERVATION.

Tropical Cyclone Freddy is the Longest Tropical Cyclone on Record at 36 days: WMO

05.07.2024

oluja , nevreme , more — Photo-illustration: Freepik (wirestock)

A WMO international committee of experts working under the auspices of the Weather and Climate Extremes Archive conducted a detailed analysis and verification of the distance and duration. The evaluation committee recognized Tropical Cyclone (TC) Freddy’s duration of 36.0 days at tropical storm status or higher as the new world record for the longest tropical cyclone duration.

A reanalysis of the duration of the previous record holder TC John in the North Pacific Ocean in 1994 indicated that it existed at tropical storm status or higher for a combined duration of 714 hours, or 29.75 days.

In terms of distance, the WMO analysis indicated that TC Freddy travelled 12 785 km ± 10 km (7 945 miles, 6 905 nautical miles) at tropical storm status or above. This is a close second to TC John, which covered 13 159 km ± 10 km (8 177 miles, 7 105 nautical miles) at tropical storm status or above. To put that number in perspective, that distance is nearly 33 per cent of the Earth’s circumference.

“Freddy was a remarkable tropical cyclone, not only for its longevity but also for its ability to survive multiple land interactions, which unfortunately had significant consequences for southeast African populations,” says Chris Velden, committee member and tropical cyclone/satellite expert from the University of Wisconsin, USA.

“This investigation highlights the meticulous care that the WMO undertakes in certifying all weather observations. Such painstaking evaluation provides the critical confidence that our global records of all weather phenomena are properly measured,” said Randall Cerveny, Rapporteur of Climate and Weather Extremes for WMO.

WMO will update its Archive of Weather and Climate Extremes to reflect the new record. The archive includes the world’s highest and lowest temperatures, rainfall, heaviest hailstone, longest dry period, maximum gust of wind, longest lightning flash and weather-related mortalities. It is used by weather historians and, increasingly, by policy makers.

“The extremes presented for adjudication for the WMO Weather and Climate Extremes Archive are ‘snapshots’ of our current climate. It is possible, and indeed likely, that greater extremes will occur in the future. When such observations are made, new WMO evaluation committees will be formed to adjudicate these observations,” said Randall Cerveny.

The WMO evaluation committee consisted of experts from the Tropical Cyclone Warning Center Melbourne (Bureau of Meteorology, Australia), the Regional Specialized Meteorological Centre (RSMC) La Réunion (Météo-France, France) that forecasted TC Freddy, as well as scientists from Spain, Canada, Hong Kong China, and the United States.

Source: WMO

How to Unlock a USD 500 Billion Investment Opportunity in Advanced Energy Solutions and Reach Net Zero

04.07.2024

električna energija - struja — Foto-ilustracija: Pixabay

Photo-illustration: Unsplash (Raphael Cruz)

Developing advanced energy solutions including storage, clean fuels, carbon removal and advanced nuclear solutions is key to achieving better outcomes for the climate in the form of low emissions, health via clean air, and the economy through job creation.

While better health, economic competitiveness and climate remain key policy objectives of the energy transition, these outcomes are often not reflected in cost and benefit analyses for advanced energy solutions. Instead, calculations tend to focus on the cost of a specific electron or molecule – and the cheapest available alternative.

There are a few exceptions that prove it is possible to account for these outcomes, however. California’s Carbon Neutrality by 2045 plan estimates that, alongside neutralizing CO2 emissions, implementation would produce USD 200 billion of healthcare savings due to reduced air pollution and create 4 million new jobs to develop infrastructure and capacity.

But more often than not, innovators, utilities, energy users and investors don’t get rewarded for generating these benefits – they are not valued and they are not priced into investments.

At the same time, there is an additional cost gap, often called the green premium, when new solutions are compared to legacy solutions that do not offer the same benefits. While some costs are expected to decrease, many solutions will still incur long-term additional costs that need to be paid.

For example, the cost of clean hydrogen could reach as little as USD 0.12 per kilowatt hour (kWh) by 2035, but this would still not be in line with natural gas, the cost of which is expected to be as low as USD 0.09 per kWh in the same year. Sustainable aviation fuel (SAF) will still be up to two times more expensive than kerosene by 2050. And carbon capture will always be a pure additional cost to the emission producer that does not really have an alternative.

Lagging investment in advanced energy solutions

When combined, the green premium and the lack of accounting for the benefits of new technologies pose significant challenges to create viable business cases for the private sector to invest in advanced energy solutions. In effect, investment is lagging despite substantial capital being available.

In 2023, around USD 60 billion was allocated to advanced energy solutions, but this needs to grow almost 10-fold over the next few years. Investment in storage, clean fuels, carbon capture, SAF and advanced nuclear need to exceed USD 500 billion per year by 2030 to align with global net-zero pathways.

In the meantime, economic, health and climate outcomes hang in the balance. To unlock these benefits, we must gain a better understanding of their value and price them into investments to address cost disparity. At the same time, the resulting increased cost of the energy transition – the price to pay for wider benefits – will need to be met by governments, and eventually consumers, while companies must also accept some margin compression.

Making it work

Closing the direct cost gap remains a critical challenge that will require a multifaceted approach. One lever is to pursue economies of scale and efficiency improvements across the value chain, including in the areas of permitting of advanced energy solutions and regulatory innovation.

Photo-illustration: Unsplash (nuno-marques)

A second lever is government funding. It exists in various forms such as subsidies, incentives, and guarantees to help minimize risk and cost, enabling more investment. California has been able to inject almost USD 50 billion from state funds, in addition to the Inflation Reduction Act at the Federal level, to make its Carbon Neutrality Plan by 2045 more attractive to investors.

Another way to cover the green premium cost is by passing it directly to end users and consumers. For instance, decarbonizing aviation by 50 per cent would result in the tripling of fuel costs for airlines as they switch to SAF. If airlines were to preserve margin and pass the entire cost onto passengers, it would result in an increased ticket premium of around 18 per cent. Similarly, an industry study suggests that decarbonizing Europe’s power grid by as much as 95 per cent using advanced energy solutions and renewables would increase bills by roughly EUR 14 per month for a typical household in the EU.

And of course, this additional cost could also be addressed through margin compression by companies. This would be a voluntary decision taken by a company along the advanced energy solution value chain to reduce the difference between the cost of the product or service and its selling price. Although this would narrow profit margins, it could be justified to develop the market, foster long-term sustainability and contribute to broader societal goals around the energy transition. While margin compression could be achieved quickly, it has a limited potential, may adversely deter future investors and could discourage critical innovation.

China is a great example of a country that’s taken a holistic approach to developing advanced energy solutions. Its government uses a blend of tools, addressing this challenge through incentives, subsidies and mandates. This approach has helped China to not only become a global leader in the sector, but to also reduce the green premium of advanced energy solutions through economies of scale.

Building up advanced energy solutions

Substantial capital is available for advanced energy solutions, although the current business case presents a roadblock to seeing that investment flow at the required rate. While the industry develops, society, policy makers and companies must get comfortable factoring in the “hidden” value of these solutions – and paying for it – while also improving costs and creating strong market signals for these innovations.

Every region, country, industry and company will decide on its own approach, but these stakeholders must cooperate with each other. Platforms like the World Economic Forum’s Advanced Energy Solutions community can encourage such collaboration to accelerate – from decades to years – the industrial-scale deployment of innovations such as clean fuels and hydrogen, advanced nuclear, storage and carbon removal.

Addressing the green premium and accounting for the full costs and the benefits of these advanced energy solutions will help shape and accelerate the growth of the industry. Supporting partnerships among innovators, large energy companies, energy users and investors is key. It will help to increase public confidence in advanced energy solutions, boosting technology readiness and demand, and bolstering the business case for these much-needed sustainability solutions.

Source: World Economic Forum

UNEP and Ministry of Environment Sign Agreement to Reinforce Environmental Action in Brazil

03.07.2024

priroda , brazil — Photo-illustration: Unsplash (Douglas Lopez)

Photo-illustration: Unsplash (Laila Gebhard)

In a move to renew and increate collaboration on the propriety issues of climate change, nature and biodiversity loss, and waste and pollution, the United Nations Environment Programme (UNEP) and the Ministry of Environment and Climate Change (MMA) of Brazil signed a Memorandum of Understanding this morning. The signing ceremony, featuring Minister Marina Silva, coincided with the inaugural official mission to Brazil by Under-Secretary-General of the United Nations and UNEP Executive Director, Inger Andersen.

This strategic agreement marks the 20th anniversary of the UNEP Office in Brazil strengthening collaboration with the Brazilian government in the environmental and sustainable development agenda. It heralds significant advancements in environmental policies and actions across Brazil, promising broad and enduring benefits for both society and the natural world.

Cooperation with the Brazilian government also reinforces the nexus between reducing social inequalities while guaranteeing a safe and healthy environmental for thriving livelihoods.

“We are pleased to renew our partnership, but we also want to take this opportunity to broaden the scope of our cooperation. We are in a painful reconstruction process in Rio Grande do Sul, which has already cost around USD 16 billion. The Pantanal is facing a severe drought, highlighting the urgent need for risk management plans, rather than just disaster management,” said Minister Marina Silva.

Inger Andersen, UNEP Executive Director, said: “The signing of this agreement with Brazil underscores our ongoing commitment to the environment and sustainable development in one of the world’s most biodiverse regions. We are pleased to continue our partnership with Brazil and turn our strategic plans into impactful actions to accelerate progress on the environmental challenges linked to climate change, nature and biodiversity loss and pollution and waste.”

The memorandum outlines UNEP’s support in four key areas: climate action, action for nature, action against chemicals and pollution, and strengthening environmental governance.

Climate Action: The collaboration will support the development of Brazil’s National Climate Plan, which includes formulating a National Mitigation Strategy and corresponding Sector Plans. It also emphasizes the integration of nature-based solutions in subnational climate action plans, governance strategies and instruments for coastal, marine and oceanic zones, and efforts to combat plastic pollution.

Photo-illustration: Pixabay (thiagolazarino)

Action for Nature: Notable initiatives include implementing the new Global Biodiversity Framework, developing the National Bioeconomy Strategy, and enhancing financing mechanisms for nature conservation. The agreement also supports the regulation of the National System of Conservation Units (SNUC) and promotes effective area-based conservation measures throughout Brazil.

Action Against Chemicals and Pollution: This segment of the memorandum facilitates cooperation in developing studies and projects in line with the Minamata Convention commitments, crafting a national circular economy strategy, and programs aimed at improving air quality and managing short-lived climate pollutants, such as methane and black carbon.

Strengthening Environmental Governance: The agreement includes collaborative efforts to bolster environmental governance, such as the support to Brazil’s G20 presidency with expert advice on environmental sustainability and climate issues. A pivotal element of this cooperation is the development of GEO Brazil, which will assess the nation’s environmental conditions, evaluate the effectiveness of current policies, and forecast future environmental trends.

This memorandum is a testament to the shared commitment of UNEP and the Brazilian government to forge a sustainable future through robust environmental stewardship.

Source: UNEP

Environmental Labelling and Eco-Labels

03.07.2024

ecology-environment-recycling — Photo-illustration: Pixabay (Annette)

The fact remains that the stability of our planet has been irreversibly damaged and that human civilization has contributed to this state with its activities, especially in terms of energy and resource consumption. Consequently, the world has changed a lot during the last decades.

Awareness of climate change, caused by the negative impacts of our consumer society, has grown rapidly and can be said to have become a global public consciousness. Although the daily desires for shopping and consumption are still present, consumers increasingly consider ethical and environmental issues in their purchasing decisions.

In this way, consumers represent new social expectations that require companies to integrate environmental features and sustainability issues in the research and development of their latest products and business strategies to align their goals with sustainable development goals – environmental, social, and economic. To achieve these goals and convince environmentally conscious consumers to buy a particular product, companies use eco-labels and ecological claims, emphasizing the environmental acceptability of the product or high ethical standards. Ecolabelling is a voluntary procedure for certifying the environmental performance of products or services within a specific category.

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This way, ecological features and aspects are highlighted, while manufacturers give consumers information about the environmental impacts of their products or services throughout their life cycle. Ecological labelling makes products more recognizable on the market, i.e. it facilitates:

• Informing consumers and facilitating their choice when purchasing. Environmental labelling is an effective way of informing consumers about the environmental impact of the selected product. In this way, consumers can distinguish between products that harm the environment and those that are environmentally acceptable.

• Promotion of economic efficiency. Ecolabelling has lower economic costs than regulatory controls. Thus, it generates benefits for both government and industry.

• Stimulating market development. When consumers choose to buy products with eco-labels, they have a direct impact on the creation of an environmentally friendly/ green market.

Photo-illustration: Unsplash (Gary Chan)

• Encouraging continuous improvement. Dynamic environmental markets encourage corporations to commit to continuous environmental improvement of their products or services.

• Promotion of certification. The ecological certification programme proves that products have met specific environmental labels and declaration standards. This way, consumers are provided with visual information about the product and its environmental features. For these reasons, certification has an educational role for consumers while promoting competition among producers.

• Assistance in monitoring. The benefits of official eco-labelling are in validating ecological claims that facilitate monitoring. By doing so, consumers and competitors can better assess the credibility of these manufacturer claims. Environmental labelling encourages sustainability and sustainable development, environmental protection, more efficient use of energy, rational use of non-renewable natural resources, implementation of ecological practices at the state, regional and global levels, preservation of ecosystems and biodiversity, improvement of the waste management system by the implementation of recycling, better management of harmful substances in products, application of cleaner production, development of new, greener production technologies, development of eco-innovations and more straightforward trading in ecological markets.

The International Organization for Standardization ISO and its standards from the ISO 14024 series identifies and defines three types of environmental labels and declarations based on classification: Type I – environmental labels, Type II – self-declared claims and Type III – environmental declaration.

dr Nataša Petrović

Read the story in the new issue of the Energy portal Magazine NATURE CONSERVATION.

GEOS-U Satellite to Monitor Environmental Hazards

02.07.2024

earth-gd8aaf78e9_1920 — Foto-Ilustracija: Pixabay (PIRO4D)

A SpaceX Falcon Heavy rocket launched the GEOS-U satellite into orbit on June 25 from NASA’s Kennedy Space Center in Florida. According to the World Meteorological Organization (WMO), it is expected to reach geostationary orbit, 22,236 miles above Earth, in about two weeks.

This satellite will be named GEOS-19 and is part of the GEOS-R series of geostationary operational environmental satellites, the most advanced weather and environmental monitoring system in the Western Hemisphere. Precisely, as stated on the National Oceanic and Atmospheric Administration (NOAA) website, it is positioned to monitor environmental hazards affecting much of North America, including the continental United States and Mexico, as well as Central and South America, the Caribbean, and the Atlantic Ocean up to the west coast of Africa.

The GEOS-U satellite, with its proactive approach, will provide crucial data for protecting the Western Hemisphere from environmental threats, offering early warnings and enabling timely responses.

Ken Graham, director of NOAA’s National Weather Service, explained that GEOS is one of the most valuable tools in meteorologists’ and hydrologists’ observational arsenals.

The satellite will provide essential data for identifying and monitoring environmental hazards, pinpointing fire hotspots, detecting changes in fire behavior, and assessing its movement and intensity. Additionally, it will monitor smoke emissions and their effects on air quality. Moreover, the satellite can identify lightning strikes that may lead to fires.

Benefits include early warnings for tropical storms and hurricanes and providing data on storm characteristics. It will also detect heavy rainfall and offer warnings of flash flood risks.

We must also mention space weather information caused by solar activities, such as solar storms. These storms can impact Earth through magnetic fields and solar particles, potentially disrupting power grids and communication and navigation systems. The satellite will indeed detect dangerous space weather.

GEOS-U is the fourth and final NOAA satellite in the GEOS-R series. It will operate in synchronization with GEOS-18 and cover more than half of the planet Earth – from New Zealand to the west coast of Africa and from near the Arctic Circle to the Antarctic Circle.

Energy portal

EBRD Lends up to EUR 30 Million to Željeznički Prevoz Crne Gore a.d.

02.07.2024

fernzug-voz-lokomotiva — Foto-ilustracija: Pixabay

Photo-illustration: Unsplash (Balazs Busznyak)

The European Bank for Reconstruction and Development (EBRD) is providing a senior loan of up to EUR 30 million to Željeznički Prevoz Crne Gore a.d. (ZPCG), the passenger train operator in Montenegro.

The loan, which will be guaranteed by the government of Montenegro, will be used to purchase three electric multiple-unit (EMU) trains, which will run across the country’s rail network. The new rolling stock will replace the old, energy-inefficient, locomotive-hauled trains currently in operation and will improve the comfort, quality and reliability of transport services.

The government of Montenegro has identified the improvement of rail passenger services as a priority for the development of the railway sector in the country and the promotion of modal shift from passenger cars to rail transport.

The project includes technical assistance to support project implementation and procurement, with EUR 325,000 in funding from the EBRD’s Shareholder Special Fund. In addition, the company will receive technical assistance, support and funding from the EU Reform Facility to enhance its corporate governance practices, standards and public service contract.

The signing was attended by Montenegrin Minister of Finance Novica Vuković, Minister of Transport and Maritime Affairs Filip Radulović, Ilinka Pavicević, Executive Director of ZPCG, Remon Zakaria, Head of Montenegro for the EBRD, and Sue Barrett, Director, Head of Infrastructure for Europe, Middle East and Africa at the EBRD.

Novica Vuković, Montenegrin Minister of Finance stated: “It is our pleasure that the European Bank for Reconstruction and Development has been our strategic partner for many years, both through the public and private sectors, investing over 800 million euros through various investments, including traffic infrastructure. Today, the signed credit arrangement between the Railway Transport of Montenegro and the EBRD, with the guarantee of the State, will enable the purchase of up to three sets of four-part electric motor sets, which will be used on the entire railway network of Montenegro. The new rolling stock will replace the old, energy-inefficient locomotive-hauled sets that are currently in use. Also, the project will support the development of the rail transport sector through the modernization of the rolling stock, which will significantly reduce carbon emissions by switching from road to rail transport. It is clear that the introduction of environmentally friendly solutions is no longer a trend, but a real need and a direction to choose. I would like to take this opportunity to thank you for the exceptional cooperation and continuous support in the financing of projects that will enable Montenegro to achieve its key foreign policy goal, which is full membership in the European Union.”

Ilinka Pavicević, Executive Director of ZPCG stated: “On behalf of the Railway Transport of Montenegro, I am pleased to announce the start of the implementation of one of the largest investment projects related to the modernization of the rolling stock of Montenegrin railways. It is a loan arrangement that is realized with the support of the EBRD bank in the amount of 30 million euros, and which will be intended for the purchase of new electric trains for the needs of local railway passenger traffic. After almost 13 years, we have the opportunity to announce the purchase of new trains that will significantly improve the quality of the railway service in Montenegro. After the signing of the loan agreement and the guarantee agreement, the selection of consultants for this project will follow, which will be carried out in accordance with the public procurement policy and rules of the EBRD Bank. After the selection of consultants, the announcement and implementation of an international two-phase tender for the procurement of new trains will follow, about which the interested parties and the public will be informed in due time”.

Sue Barrett, EBRD Director, Head of Infrastructure for Europe, the Middle East and Africa, said: “The signing of this loan today demonstrates the EBRD’s continued support for Montenegro’s railway sector by helping the train operator provide better quality rail services for its passengers. This project will also help to promote the use of green and safe transport, in line with the Bank’s green economy objectives. The EBRD is committed to further supporting the sustainable development of Montenegro’s transport infrastructure in cooperation with its partner institutions, with the aim of promoting the country’s economic and regional integration.”

Remon Zakaria, EBRD Head of Montenegro, said: “The acquisition of these EMU sets will significantly improve the safety, quality and comfort of ZPCG’s services. Passengers can expect more reliable and punctual train services, leading to increased satisfaction and trust in the national rail system. Replacing the old, energy-inefficient, locomotive-hauled trains with new EMUs will significantly reduce energy consumption and, hence, emissions. This transition to more environmentally friendly rolling stock aligns with Montenegro’s commitment to sustainable development and to reducing its carbon footprint. We are confident that this loan will play a pivotal role in transforming Montenegro’s railway services, delivering tangible benefits to both operator and passengers.”

Since Montenegro joined the EBRD in 2006, the Bank has invested more than EUR 800 million in 86 projects there. The Bank’s priorities for the country are to support competitiveness, the green transition and its further integration into regional and global markets.

Source: EBRD

Financing the Energy Sector – The Debt-Equity Relationship

01.07.2024

novac — Photo-illustration: Freepik (freepik)

The answer to who holds the largest share of investments is corporations. However, households and governments also play a crucial role in this regard. Specifically, households have significantly increased their participation since 2015, particularly through the use of solar panels, energy efficiency measures, heat pumps, electric vehicles, and more. On the other hand, the governments support such investments through measures such as tax incentives.

According to a new report by the International Energy Agency (IEA), the capital structure of investments in the global energy sector has remained stable since 2015. The report addresses the relationship between debt and equity in financing this sector.

Currently, debt accounts for about 46 per cent of total costs, while equity makes up about 54 per cent. To clarify, debt represents the portion of money borrowed, for example, from banks. On the other hand, equity, as the word itself suggests, represents the investor’s own capital.

However, debt is not the same for all energy sources. For instance, national oil companies rely less on borrowing compared to their competitors, with the percentage of debt being about 35 per cent of total investments.

As the report states, high energy prices following the COVID-19 pandemic and events in Ukraine have enabled fossil fuel companies to reduce their debt levels in recent years.

In contrast, clean energy, such as wind or solar power, requires higher initial costs, resulting in debt financing comprising about 50 per cent.

Another interesting example is new technologies such as battery storage or hydrogen supply. Their debt share is significantly lower, at around 20 per cent. The reason for this lies in the fact that these technologies are associated with higher risks. Consequently, development teams rely less on borrowing and instead seek to secure finances through venture capital. To clarify, these are investors who specialize in risky investments. They aim to invest in new technologies that carry risk but also offer the potential for significant success.

Energetski portal

ABB’s 2030 and 2050 Science-Based Targets Approved by the Science Based Targets initiative (SBTi)

01.07.2024

ABB_Sustainability_Agenda_-_Pillar_image_-_Enabling_a_low-carbon_society — Photo: ABB

ABB welcomes the approval of its emissions reduction targets by the Science Based Targets initiative (SBTi). As part of the company’s efforts to enable a low-carbon society ABB submitted updated scope 1, 2 and 3 targets for 2030 and 2050 to the SBTi. The approval of ABB’s science-based targets by the SBTi confirms ABB’s approach as science-based in accordance with the Paris Agreement.

The SBTi approved the following ABB targets:

Near term targets

Reduce absolute Scope 1 & 2 CO2e emissions 80 percent by 2030 versus a 2019 baseline
Reduce absolute Scope 3 emissions 25 percent by 2030 from a 2022 baseline

Long term targets

Reduce Scope 1 & 2 CO2e emissions 100 percent by 2050 versus a 2019 baseline
Reduce absolute Scope 3 emissions 90 percent by 2050 from a 2022 baseline
Reach net-zero greenhouse gas emissions across the value chain by 2050

Anke Hampel, Group Head of Sustainability at ABB, said: “As a technology leader in electrification and automation, ABB is at the core of accelerating the energy transition. We are committed to reduce our scope 1 and 2 emissions by 80 percent by 2030 and 100 percent by 2050 and have already achieved a 76 percent reduction versus our 2019 baseline. With our new Scope 3 targets we will increase our engagement with our value chain partners on decarbonization whilst providing products and solutions to our customers to enable them to scale-up renewables, increase energy efficiency, electrify processes and reduce emissions. The validation of our updated targets by the Science-Based Targets initiative demonstrates that our ambitions and methodology align with the latest climate science.”

To discover more about the company’s strategy and sustainability performance ABB’s 2023 Integrated and Sustainability reports can be accessed and downloaded here: go.abb/reports

The SBTi Net-Zero Standard is the world’s only framework for corporate net-zero target setting in line with climate science. It provides the guidance and tools companies need to set science-based net-zero targets.

Source: ABB

Green Transformation of the Republic of Croatia

30.06.2024

croatia-hrvatska — Photo-illustratio: Pixabay (neufal54)

Access to European Union funds provides the Republic of Croatia with the necessary finances for investments in infrastructure construction, as well as green and digital transition. Thanks to this, the country can implement numerous reforms and projects faster and with better quality, boosting its economy and creating new opportunities, especially in green and clean technologies. In an interview for Energy Portal Magazine, Damir Habijan, Croatian Minister of Economy and Sustainable Development, talked about the green transition, investments in renewable energy sources and how the Republic of Croatia plans to achieve its goals and become climate neutral.

Q: The Republic of Croatia is committed to implementing the Green Plan for Europe, which aims to make the continent climate-neutral by 2050. How do you plan to accomplish your goals?

A: The Republic of Croatia fully supports the implementation of the Green Plan for Europe and is fully committed to making Europe the first climate-neutral continent by 2050. In this context, all EU Member States started drafting National Energy and Climate Plans (NECP) in 2019, which set three main goals related to decarbonization: reduction of CO2, the share of renewable energy sources in final consumption and increase of energy efficiency. All the stated goals are set at the EU level. It should be noted that these goals have been constantly raised during the last five years, both because of the Fit for 55 package and the REPowerEU plan, devised due to the aggression against Ukraine, which largely led to the drastic jump in energy prices. That is why the European Commission has set a clear goal with the REPowerEU plan to rid the EU of its dependence on fossil fuel imports, especially from unreliable partners, as soon as possible. The plan mentioned above boosts the effort related to decarbonization, which, in addition to reducing greenhouse gases, should also reduce the European Union’s dependence on energy imports from third countries.

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Q: What does the National Plan for Recovery and Resilience bring, and when will it be implemented?

A: The National Plan for Recovery and Resilience is another important document that envisages a series of reforms and investments that will ensure a green and digital transition and better functioning of the state administration. The document was created based on the EU Regulation and is a direct consequence of the COVID-19 pandemic. In it, we, as a state, have highlighted which reforms we consider necessary and proposed activities and investments with which we will implement them. On the other hand, the plan brought significant financial resources, which initiated a series of economic activities. For example, after the NPOO Addendum worth about 4.5 billion euros was approved in December 2023, the total amount of funds we have at our disposal increased from 5.5 to 10 billion euros. That is about 15 per cent of our annual GDP. The significance of this is shown by the fact that this percentage is the highest in the EU; that is, no other member state has agreed on such a high percentage of NPOO funds in relation to their economy size. The Republic of Croatia has received 3.5 billion euros so far. It should be noted that Croatia is among the first three EU countries that sent the fourth request for disbursement of payment under the NPOO auspices, and we expect the payment of an additional 163 million euros in grants soon. I would like to note the example of the energy sector, to which, after the revision of the NPOO, 1.4 billion euros were allocated. A large part of that money is aimed at the green transition. The rest is invested in the security of supply and diversification of sources for Southeast Europe. The green transition is also financed in other sectors, such as water management, waste, etc.

Q: How significant are investments in renewable energy sources?

Photo-illustration: Unsplash (Mike Swigunski)

A: Investments in renewable energy sources (RES) are significant, and considering our geographical position, we have great RES potential. In the southern part of the country, we can see large-scale investments in wind farms and solar power plants, as well as in northern Croatia. Integrated solar power plants, installed on roofs or in the vicinity of houses, other buildings and factories, are particularly important to us. They increase the share of renewable energy in the total energy mix and ensure the inclusion of individuals and small business owners and their active participation in the energy transition. Equally important are the large hydropower plants that also produce the so-called green electricity. Besides wind, water, and sun, geothermal energy and bioeconomy (biogas and biomass) should also help us with this. Linking biogas and biomass to agricultural production ensures a green transition. In terms of geothermal energy, we have highly favorable conditions for using the geothermal energy accumulated underground in the Pannonian Basin, which has a geothermal gradient as much as 60 per cent higher than the European average. To use this potential as efficiently and effectively as possible, the 2030 Geothermal Potential Development Plan of the Republic of Croatia was drawn up due to the need to ensure the further development and use of domestic renewable potential, which should be utilized more widely in energy transformation for the production of electricity, i.e. for heating and cooling. So, regarding renewable energy sources, the Energy Development Strategy sets a target of at least 2,500 new MW in producing electricity from renewable sources by 2030. Still, thanks in large part to the National Recovery and Resilience Plan and our investments in the transmission power grid, I assure you that we will achieve this goal earlier, that is, in 2028.

Interview by Milica Radičević

Read the whole interview in the new issue of the Energy portal Magazine NATURE CONSERVATION.

Good Management of Protected Areas Leads to Better Nature Conservation

29.06.2024

ilse-4xBoEgF8ziE-unsplash — Photo: Unsplash (Ilse)

The Institute for Nature Conservation of Serbia, which deals with the protection and improvement of natural heritage, currently has 472 protected areas in Serbia under its jurisdiction, spanning 762,960 hectares or 8.62 per cent of the territory of our country. Various institutions and organizations can manage protected areas in Serbia, including public and communal municipal companies, cultural centers, tourist and non-governmental organizations, civil sector associations, church dioceses, and individuals in the case of protected trees. The same goes for the quality of management at different levels regarding implementing measures and ensuring the required finances and logistics, as well as personnel and management priorities related to preserving, monitoring, and protecting biodiversity and geodiversity. Understanding the importance of all social actors for the management of protected areas begins with evaluating a specific area during the drafting of the Nature Conservation Study.

Nataša Panić, head of the Department for Educational & Publishing Activities and Communications at the Institute for Nature Conservation of Serbia, says that in addition to the assessment of all the values of the protected areas, an integral part of the mentioned Study is the analysis of the interested public, with a particular emphasis on the population of the future protected area and an assessment of their needs. Reviewing the development plans and initiatives related to the population and local communities is the basis for providing guidelines for the sustainable development of the area and management measures of the protected area.

“Participation of all stakeholders in the protection and development of the future protected area is implemented later through the process of declaring a certain area as protected by conducting a public inspection procedure and having a public discussion related to the Conservation Study and the proposal of the Regulation on the declaration of a certain area as protected. Only based on the consent of all participants in the public inspection and public discussion process can the procedure for declaring the area protected be finalized”, Ms Panić says and adds that after obtaining the status of a protected natural asset and appointing a manager for that particular area, comes further coordination of all social actors in the protection and development of the area by the institution or the organization that has been assigned this function.

She goes on to say that the following are of particular importance in improving the management of protected areas – hiring professional staff who will be multidisciplinary, conducting training, providing the necessary finances and logistics, and facilitating development that will be harmonized with nature without jeopardizing natural values and establishing a partnership with all interested parties. Monitoring and networking with the information systems of various nature conservation institutes and institutions, working on improving the quality of life of local communities, implementation of projects and generating profit for the protected area, but also networking with international partner institutions and programmes and development of eco-tourism infrastructure together with visitors are all important, as are implementation of educational programmes for different target groups and branding of local products that come from the protected area.

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Management of natural resources

As part of its activities, the Institute for Nature Conservation of Serbia also assesses if a certain organization or institution meets the staffing and logistical requirements and can propose a manager for the area for which the Conservation Study is being drafted. The work and activities in the protected area, which are related to the conservation, arrangement, maintenance and implementation of protection and development measures, as well as ensuring security services, are carried out based on the Decree on the declaration of conservation and management documents issued, with an assigned manager being responsible for the Decree’s implementation.

“The Institute for Nature Conservation of Serbia issues the manager with a list of nature conservation conditions incorporated into the said documents. The manager also cooperates with communal services and relevant inspectors to prevent and eliminate illegal activities in the protected area. The Institute also carries out professional supervision to review the program’s implementation and management plan in accordance with the given nature conservation conditions,” Ms Panić explains.

To fulfil obligations related to the conservation, improvement and promotion of natural and other values and sustainable use of the protected area, the manager must meet the professional, staffing, and organizational requirements according to the Law on Nature Protection and the Rulebook on the prerequisites that the manager of the protected area must meet. According to that Rulebook, the manager must implement organized conservation, improvement and promotion of sustainable development of the protected area and guard service. Good staff and appropriate technical equipment are also needed, both chosen by the manager. The manager is also in charge of implementing the Management Plan, i.e. its scope and type of planned activities, which largely depends on the staff’s skills and technical equipment.

Serbia also has a concept of public-private partnership (PPP), which is not sufficiently developed. Still, based on the model of good area management in the region, PPP is considered a good option.

Prepared by Mirjana Vujadinović Tomevski

Read the story in the new issue of the Energy portal Magazine NATURE CONSERVATION.

First-Ever Global Renewables Summit Announced to Drive Action to Triple Renewable Power by 2030

28.06.2024

solar — Photo-illustration: Unsplash (karsten-wurth)

The Global Renewables Alliance (GRA) and Bloomberg Philanthropies, in partnership with the governments of Barbados and Kenya, the European Commission, the COP28 and COP29 Presidencies, the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), Sustainable Energy for All (SEforALL), and the Center on Global Energy Policy (CGEP) at Columbia University – SIPA announced the Global Renewables Summit, the first-ever high-level public-private summit to discuss the progress, opportunities, and challenges of tripling renewable energy globally by 2030. The Summit will be held in New York from 23-25 September on the margins of the 79th UN General Assembly High-Level Week.

Following the first Global Stocktake adopted at COP28, and captured in the historic UAE Consensus, which calls for tripling the world’s renewable energy capacity and doubling energy efficiency gains by 2030 and ensuring deep, rapid, and sustained reductions in greenhouse gas emissions in line with a pathway to limit global warming to 1.5°C in a nationally determined manner, the Summit will serve as a platform to advance key areas of action to scale-up renewable deployment this decade, especially in emerging markets and developing economies (EMDEs). The organising partners represent a unique coalition of governments, private sector, philanthropy, international organisations, and academia and demonstrates the collective momentum and drive to accelerate the pace and scale of the transition to renewable energy.

“The historic global renewable target was not plucked from the air. IRENA’s World Energy Transitions Outlook projected the need to triple renewable power capacity to over 11,000 GW globally by 2030 for a 1.5°C aligned pathway. Now, we must build on the success of COP28 and mobilize action. As global custodian, IRENA will monitor progress and provide recommendations across energy transition priorities and this first-ever Renewables Summit is an important milestone to maintain momentum and drive implementation towards 2030,” said Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA).

“Transitioning from coal and other fossil fuels to renewable energy is key to solving the climate crisis,” said Antha Williams, who leads the environment program at Bloomberg Philanthropies.

“The world must triple renewable energy by 2030. The deployment and investment levels in emerging and developing economies remains far below the scale and pace needed. Rapidly scaling up deployment in these countries is crucial to curb emissions and protect people’s health and our economies from the worst effects of climate change. Bloomberg Philanthropies look forward to bringing together world leaders and experts to exchange insights and mobilise action to help achieve a clean energy future for all,” she added.

“At COP28, a coalition of private sector, civil society, governments, and multilateral organisations collectively secured a global target to triple renewables by 2030. Now, it’s time for action. Renewable technologies are mature and competitive, and the industries are ready to deliver, but the right policy frameworks and implementation are now urgently required. We are honoured to co-host this unique public-private summit with some of the leading organisations in the world to ignite a worldwide race to the top, accelerating action on finance, permits, grids, and supply chains to unleash the full potential of renewables,” said Bruce Douglas, CEO of the Global Renewables Alliance.

The Summit will feature an opening segment with participation of governments followed by high-level multi-stakeholder roundtables on key topics including access to finance, supply chains, permitting and grid infrastructure. The Summit will provide a space for governments to deliberate on the target of increasing global energy storage six-fold by 2030 and to consider including sectoral renewable energy targets in their Nationally Determined Contributions due in 2025. The organising partners will also present announcements and reports in support of the tripling renewables target.

You can read the entire text here.

Source: IRENA

Negative Bidding Continues to Burden Offshore Wind Development

28.06.2024

vetar — Photo-illustration: Unsplash (Nicholas Doherty)

Photo-illustration: Unsplash (Levan Badzgaradze)

Germany and the Netherlands have recently issued the results of their latest offshore wind auction. They awarded a total capacity of 6.5 GW. That’s good for Europe’s energy transition. But the auction design in both countries included negative bidding. This puts unnecessary additional pressure on offshore wind developers – with adverse consequences for the wider wind energy supply chain and Europe’s electricity consumers.

Germany and the Netherlands have recently awarded 6.5 GW of new offshore wind projects. Germany awarded 2.5 GW and the Netherlands 4 GW. To put this in context the EU has 19 GW of offshore wind in operation today.

The auctions in both countries used negative bidding, where wind farm developers bid the amount of money they’re ready to pay for the right to build a wind farm – and the higher the price you bid the more likely you are to win. Most other countries in Europe use Contract for Difference (CfD) auctions where developers bid the amount of revenue they think they need, and the lowest bid wins.

If you win a negative bidding auction your revenue will be whatever is the wholesale market price of electricity. If you win a CfD auction your revenue will be whatever you bid in the auction, and if the market prices are higher than the agreed strike price, you pay the difference to the Government.

The negative bidding amounts are a straight add-on to the costs of developing an offshore wind farm. It’s extra money the developer has to pay which they don’t pay in a CfD auction. Project developers have to pass on these costs. Either to the wind energy supply chain which is still recovering from supply disruptions and cost increases. And/or to electricity consumers in the form of higher electricity prices.

The auction results

The results of the latest German auction were:

TotalEnergies will pay 1.958bn euros to develop the N-11.2 site which has a capacity of around 1.5 GW. So they’re paying 1.3m euros per MW.
EnBW will pay 1.065bn euros to develop the roughly 1 GW N12.3 site. That’s 1.1m euros per MW.

The results of the latest Dutch auction were:

UK-based SSE Renewables and the Dutch state pension fund APG and ABP will pay €40mn to develop the 2GW IJmuiden Ver Alpha site. That’s 20,000 euros per MW.
Vattenfall and Copenhagen Infrastructure Partners will pay 800mn euros to develop the 2GW IJmuiden Ver Beta site. That’s 400,000 euros per MW.

Germany and the Netherlands both used negative bidding in their previous offshore wind auctions already. The Netherlands previously applied a cap on the bids which equated to 70,000 euros per MW – their cap is higher now. Germany doesn’t apply a cap. The winners of their previous auction, BP and Total Energies, are paying 12.6bn euros for the right to develop 7 GW – which equates to 1.8m euros per MW.

Negative bidding also means higher financing costs than you get with wind farms that are awarded in a CfD auction. The latter have fixed revenue, so banks feel much more comfortable offering more debt finance. But projects awarded in a negative bidding auction have variable revenue – the market price of electricity. So they need to rely more on (more expensive) equity finance – though they can mitigate this by signing PPAs with offtakers.

“Negative bidding increases the costs of offshore wind. Costs that have to be passed on to consumers and the wind energy supply chain. It may be a short-term gain for finance ministries. But it’s a long-term cost for society”, says WindEurope CEO Giles Dickson.

Non-price criteria

The Dutch auction made extensive use of non-price criteria. For the Alpha site these were about biodiversity protection. For the Beta site it was system integration. The winning bidders made significant commitments to invest in these respective areas. Vattenfall and CIP have among other things committed to build a 1 GW electrolyser facility in Rotterdam which will run on renewable electricity from the Beta site. And the Alpha wind farm is designed as a “living laboratory” – more than 75 per cent of the wind turbines in the wind farm will have artificial reefs for muscles and other maritime animals.

“The Dutch auction shows the European wind industry has a great offering on ecology and system integration. We are building new wind farms and creating lasting value for Europe’s environment and energy system”, says Giles Dickson.

The German auction used price criteria only.

What’s the money used for?

In Germany 90 per cent of the money raised from negative bidding will be used to reduce the grid levies. The other 10 per cent are used to support maritime biodiversity and sustainable fishing practices. OK. But building these wind farms requires a strengthening of Germany’s offshore wind supply chain and an expansion of port capacity. The German Government should consider putting some of the money into that as well.

Source: WindEurope

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