How Banks Finance the Deforestation of the Amazon

12.04.2024

Amazonija — Photo-illustration: Unsplash (Lucian Dachman)

Photo-illustration: Unsplash (Lucas Campoi)

According to the latest research by the non-governmental organization Greenpeace, loans from Brazilian national and international banks and taxpayers’ money finance the illegal clearing of the Amazon rainforest.

The investigation analyzed the granting of loans for agricultural production in Brazil from 2018 to 2022 and found cases where agricultural activities were financed this way despite being environmentally harmful.

In a report titled Banked Extinction: Banks and Investors as Partners in Deforestation, Greenpeace reveals that over $8.6 million has been lent to rural properties where illegal deforestation, land grabbing, irregular cattle ranching and overlapping with protected areas or completely covering these areas have occurred.

Greenpeace has identified as many as 10,074 properties that are partially or fully located in protected areas where agricultural activity should be prohibited. Twenty–four properties overlap with native habitats, while 21,692 properties overlap with unprotected public forests.

The report also shows that 798 properties embargoed by Brazil’s environmental agency IBAMA also received financing.

Greenpeace said that industrial agriculture is the main driver of deforestation in Brazil, as almost 96 per cent of the forest cut in 2022 was due to agriculture. Deforestation causes the loss of habitat for wild species and, thus, biodiversity loss. Furthermore, illegal logging is the main source of greenhouse gas emissions in Brazil – 48 per cent of the country’s emissions in 2022 were caused by deforestation. Adding to this the fact that agricultural activities emit 27 per cent of greenhouse gases, we can conclude that this sector is responsible for 75 per cent of total emissions in Brazil.

Current policy and hopes for the Amazon

According to a statement from the World Resources Institute, forest loss declined significantly in Brazil and Colombia in 2023 due to current policies prioritizing forest protection.

Thus, Brazil saw a 36 per cent reduction in primary forest loss last year, reaching its lowest level since 2015, while in Colombia, primary forest loss was halved in 2023 compared to 2022.

However, although Brazilian President Luiz Inacio Lula da Silva and Colombian President Gustavo Petro have placed great importance on protecting the Amazon rainforest, the world is still far from the goal of zero deforestation by 2030. Tropical areas lost 3.7 million hectares of primary forests last year, an area slightly smaller than Bhutan.

Milena Maglovski

The World of Speed, Cheap Fashion and Bad Habits – How Much Wardrobe is Actually Destroyed?

11.04.2024

3214f — Photo-illustration: Freepik (pvproductions)

Various epithets are attributed to today’s time, such as the modern or digital age, but there is another one that describes it more closely – the age of speed. We can interpret this in a number of ways. We have means of transport that cover distances in a short time, while news used to be out of date if it was from yesterday and today they age in just a few minutes. My grandmother says that in her time, you kept your job at all costs, even until retirement, while today’s young people often change it after a few years or months. Remember the furniture in our grandparents’ apartments that was most likely brought in when they moved in and has remained there until today? We change our place of residence, the people who surround us, our habits… Some say it’s a matter of poorer quality, others say we’ve been given more choices. It has been often said that we’ve spoiled ourselves and don’t know how to appreciate what we have. All three aforementioned reasons, and perhaps justifications for our behaviours, can also be used when talking about the textile industry, that is, our shoes and clothes.

Today, we have the opportunity to buy almost everything from our home, at a click of a mouse button. There are advantages to this kind of shopping, but photoshopped photos and incorrect information also lead to bad choices. How many times has it happened to you that you ordered a piece of clothing which, when it arrived, was of poor quality, the wrong size, or maybe you got something else entirely that you didn’t ask for? The European Environmental Agency (EEA) stated that in Europe, on average, around 20 per cent of clothing purchased online is returned. One out of five pieces of clothing sold online is returned precisely for some of the reasons mentioned. Also, as much as 70 per cent of the total returns are because clothes do not look the way the customer imagined it in real life. This habit is supported by the fact that sellers provide the opportunity for customers to return the goods within a certain period, to build trust when shopping for the first time. However, the term I would use here instead of „trust“ is „lure in“.

Data show that between 260,000 and 590,000 tonnes of textiles are destroyed annually in Europe even before they are used. The rapid change in fashion and accumulation of unsold or damaged goods has contributed to this trend. Returned goods require additional time and resources to be re-sold – from packaging and sorting to shipping and alterations if the product is damaged and more, which is why it is often more efficient for sellers to destroy them

During their destruction, various emissions are released. Expressing them in CO2-related numbers would look like this – between 0.5 and 9.5 kilogrammes of CO2 are released per kilogramme of fibre that is destroyed. To that we should add emissions that were created in vain during the production of goods that were not used – from dyeing to transportation.

Photo-illustration: Unsplash (Mediamodifier)

To reduce this negative trend, the European Union decided to introduce a direct ban on the destruction of textiles and footwear, with certain exceptions for small, micro- and medium– enterprises.

Some of the ways to increase sales and reduce returns, especially when it comes to online shopping, have also been presented. The first one is providing a detailed and accurate description of the product, along with advice on choosing the right size. Some studies have shown that merchandise returns dropped by 10 per cent as a result of sizing advice being provided. Second, awareness should be raised about the negative economic and environmental impacts if customers decide to return clothes. Third, don’t enable free returns, which will make customers choose more carefully.

Looking back twenty years ago, my parents had a very responsible attitude towards the clothes I wore. There was an established circle during which I wore hand-me-down clothes from my older sister and after I outgrew them, they would go to the next family members, that is my younger sisters. None of our parents likely thought about the possible negative impact on the environment, but rather it was a matter of financial issues and damage if a quality piece of clothing ends up in the trash. But that’s okay too because if we were guided by good life habits for some other reasons, today there would be no need for the issue of preserving the planet to top the list of problems that we have to solve.

Katarina Vuinac

Drought Causes a National Disaster in Zimbabwe

11.04.2024

suša — Photo-illustration: Unsplash (pawel-czerwinski)

Photo-illustration: Pixabay (PublicDomainPictures)

Zimbabwean President Emmerson Mnangagwa has declared a national disaster due to a drought that threatens to put 2.7 million people at risk of starvation this year, according to global media.

Mnangagwa told a press conference that the country needs two billion dollars in humanitarian aid to prevent famine. Zimbabwe’s harvest will be enough to provide just over half of the grain required to feed the nation.

“More than 80 per cent of our country has below average rainfall due to the drought caused by El Niño,“ the president said, stressing that the country’s top priority is to provide food for all the country’s inhabitants because “no one should die of hunger”.

The light rains in the south of the continent are caused by El Niño, a natural climate pattern that has a global impact on the weather. Before Zimbabwe, the Republic of Malawi and Zambia declared a national disaster, too.

In addition to food production, the drought threatened electricity production, as Zimbabwe largely relies on coal and hydroelectric power plants.

What is El Niño?

During normal weather conditions in the Pacific Ocean, the trade winds blow westward along the equator, carrying warm water from South America toward Asia. El Niño is a climate pattern that violates these normal conditions, causing the trade winds to weaken while warm water is pushed toward the west coast of America, explained the website of the US National Oceanic and Atmospheric Administration (NOAA).

El Niño can have a global impact on weather by causing wildfires, record heat, droughts, and floods worldwide. This climate pattern occurs on average every two to seven years, and its episodes last from 12 months to several years.

El Niño means little boy in Spanish. South American fishermen first noticed periods of unusually warm water in the Pacific Ocean back in the 17th century.

Milena Maglovski

German Onshore Wind Sees Record Auction Volumes, Permitting Improvements and Crucial New Port Investments

10.04.2024

vetar — Photo-illustration: Freepik (wirestock)

German onshore wind is going from strength to strength. In a blockbuster announcement the German Federal Network Agency Bundesnetzagentur (BNetzA) has just raised the onshore wind auction volumes for 2024 to almost 15 GW. To put this in perspective, that’s more onshore wind than all European countries combined built in 2023. And four times what Germany installed last year – which at 3.6 GW was already more than twice what Germany was building each year over 2018-22.

The updated onshore auction volume is almost 50 per cent higher than the 10 GW Germany had originally aimed for in 2024. The additional 5 GW are volumes that were not awarded in undersubscribed auctions in 2023. The ceiling price remains unchanged at €73.5/MWh.

BNetzA based the decision to raise the auction volumes on lasting improvements in onshore wind permitting. Germany had been fast and rigorous in implementing the EU’s emergency regulations on permitting, including the notion of “overriding public interest” for wind energy projects. This principle is already unlocking onshore wind projects that would otherwise have remained stuck in legal procedures.

Together with other legislative changes this has led to an uptake in new wind energy permits. Last year alone Germany permitted 7.5 GW, an increase of more than 70 per cent on 2022 and the second-best result on record. The first quarter of 2024 saw additional 1.2 GW in new onshore wind permits, hinting to similarly high permitting numbers for this year. BNetzA and the wind industry are optimistic that the positive trend will continue, generating a pipeline of permitted projects big enough to fill the remaining three auction rounds of 4.1 GW each in 2024.

On top of that Germany is set to auction 8 GW of offshore wind this year. A first offshore wind tender of 5.5 GW has already opened.

WindEurope CEO Giles Dickson says: “Germany shows what’s possible if you’re serious about expanding wind. They’re auctioning 23 GW this year alone. They’re top of the class in implementing the new EU permitting rules. Many more new projects are getting approved than before, especially in onshore wind. This is good for their energy security and good for their industry who are crying out for large amounts of cheap electricity”.

New data released in March shows that wind energy is now the biggest source of electricity generation in Germany, having overtaken coal. In 2023 renewables were 56 per cent of all electricity generated in Germany. Wind was 31 per cent, solar was 12 per cent, biogas 6 per cent and hydro 4 per cent. Nuclear was only 1.5 per cent and is now definitely phased-out in Germany.

“Germany is now proving you can run a highly industrialised economy on very high shares of renewables. Other countries should emulate this: fully apply the new EU permitting rules; and take all the other actions in the EU Wind Power Package to speed up the expansion of wind and strengthen Europe’s wind industry”, says Giles Dickson.

Government facilitates crucial investment in the Port of Cuxhaven

Photo-illustration: Unsplash (Jason Blackeye)

The German Government is also taking the right decisions on port infrastructure investments.

The Government will contribute to a 30-hectare expansion of the heavy-duty offshore terminal in the Port of Cuxhaven, which is key to the import of blades and nacelles from southern Europe and elsewhere. Together with the State of Niedersachsen and private companies, they’re investing 300 million euros in total. The port already has planning approval for the expansion.

Ports are not just critical for offshore wind. Onshore wind also relies on the timely and seamless import and export of large wind turbine components.

But the investment in Cuxhaven is just the starting point for what we need to see. Insufficient port infrastructure is putting Germany’s new onshore wind expansion plans at serious risk. Germany urgently needs a national port strategy to identify investment needs and implement priority projects. A quick fix could be to use a portion of the billions in revenue from the offshore wind auctions in 2023 and 2024 to upgrade Germany’s port infrastructure and to invest in its wider supply chain.

And Germany needs to improve the Hinterland transport routes. This includes the expansion of motorways and improvements to motorway exits and bridges. Crucially it also needs to ensure that transport permits are granted faster and less bureaucratically. Transport permits for wind energy components have been a major roadblock for the expansion of wind energy in Germany in previous years.

Source: WindEurope

Ecology Embassy in the Culture Street

10.04.2024

In a Belgrade neighborhood, the so-called Culture Street, there is a completely new and dynamic combination of culture and ecology – the first solar cultural centre in Serbia and beyond, called Eko Dvorištance (Eco-Courtyard).

Located in Borča, this unique space is not an ordinary cultural centre but a smart house with a courtyard and stage rife with innovations, which make it stand out in its technological approach, which all together, make this place exude environmental awareness.

The story of Eko Dvorištance begins with the vision of Nikola Bulj, a passionate advocate of sustainable living and renewable energy, a lover of ecology and organic food. After several years of working at the Organic Live Fest and the Eco-House 2015 project, Nikola decided to merge these two ideas into one and thus create the first self-sustaining cultural centre. He started developing Eko Dvorištance in 2019. Here’s what he told us about his endeavor.

At Eko Dvorištance, people can learn about modern technologies, green energy and sustainable construction, as the centre is mainly made of environmentally friendly materials. Solar panels on the roof and collectors for heating water are part of the infrastructure, while inside the centre is a pellet stove and a heat pump. A solar stage, environmentally friendly toilets and vertical gardens make the space functional and sustainable. Furthermore, the centre offers a charger for electric cars. Each system is at the disposal of visitors eager to learn how they operate and where to buy these devices and systems, given that the centre cooperates withover 50 companies.

IN FOCUS:

“We are the first eco showroom in Europe – one place with numerous sustainable systems installed by different companies and applied in one household. Therefore, the centre is an excellent educational opportunity for all those who want to learn how each system works – from pellet heating to car chargers,“ Nikola says.

However, Eko Dvorištance is not only a place of technological innovation. During the summer, various ecological and cultural festivals, concerts and presentations occur here.

“From May to November, Eko Dvorištance is a hub for all sorts of events such as Organic Live Fest, Candle Night, Energy Efficiency Festival, Jazz Kids Fest, as well as blues and classical music concerts, even opera“, explains Nikola.

The next giant leap for Eko Dvorištance will happen in 2024. Namely, Nikola plans to make this space an Ecology Embassy where global cultures meet and share their environmental achievements. The idea is to organize special events in cooperation with the embassies of different countries, where the representatives will promote the culture and environmental achievements of the countries and cities they come from and thus unite the world in a common goal – the preservation of our planet.

Prepared by: Milica Vučković

Read the story in the new issue of the Energy portal Magazine RESPONSIBLE BUSINESS

Producing Hydrogen from Iron-Rich Rocks without Emitting Carbon Dioxide?

09.04.2024

priroda , stena — Photo-illustration: Unsplash (Liz Joseph)

Hydrogen is often said to be the fuel of the future because its combustion does not emit carbon dioxide. However, for now, most hydrogen gas is still produced from natural gas, which leads to the creation of these emissions during the production process. Scientists from the University of Texas in Austin have found a way to make hydrogen production even more sustainable.

They have started producing hydrogen from iron-rich rocks with zero CO 2 emissions. If the project proves successful, it could be a turning point in the energy transition and form a foundation for a new type of hydrogen industry, the so-called geological hydrogen. Although this is not a brand new procedure, it has not yet been attempted and applied on an industrial scale.

A team of scientists received a substantial grant from the US Department of Energy to investigate the possibility of producing hydrogen from different rock types across the United States in collaboration with scientists from the University of Wyoming – School of Energy Resources.

What kind of research do scientists want to conduct?

Serpentinization is a natural geological process during which rocks rich in minerals create new minerals in the presence of water molecules and under certain temperatures and pressures. Lead is released as a by-product during the process.

Scientists will try to find catalysts to speed up the geological process. To clarify, catalysts are substances that expedite chemical reactions. Catalysts are not consumed but can be reused.

If they manage to find suitable catalysts, scientists believe that this process would have the potential to significantly increase hydrogen production on a global scale.

Countries worldwide have been investing significant efforts recently to improve the production of green hydrogen. Only recently did Germany and Algeria announce that they would establish a bilateral hydrogen working group. At the same time, Egypt signed seven Memoranda of Understanding with international developers stipulating the use of green hydrogen and renewable technology. The European Union is also working on projects encouraging cooperation in developing hydrogen infrastructure.

Katarina Vuinac

Up to 11 Million Tons of Plastic at the Bottom of the Ocean

09.04.2024

water-plastika — Photo-illustration: Pixabay

People are primarily concerned about the pollution of the sea by visible plastic floating on the surface of the water, but what should worry us, even more, is the sunken plastic waste that remains on the seabed forever.

In collaboration with their peers from the University of Toronto, researchers from the Australian National Science Agency (CSIRO) estimate that up to 11 million tons of plastic waste are at the bottom of the oceans.

As they state in their research, published in the Science Direct scientific journal, plastic equivalent to the volume of an average garbage truck is dumped into the ocean every minute. With plastic use expected to double by 2040, understanding how and where it travels is critical to protecting marine ecosystems and wildlife, scientists say.

Dr Denise Hardesty from the CSIRO said that that is the first scientific estimate of the amount of plastic waste accumulating on the ocean floor before it is broken into smaller pieces and mixed into ocean sediment.

“We know that millions of tons of plastic waste enter our oceans every year, but what we didn‘t know was how much of this pollution ends up at the bottom of the oceans”, Dr Hardesty said.

While assessments of the amount of microplastics deposited on the seabed have been made before, this research looks at larger items, from nets and cups to plastic bags and everything in between.

Alice Zhu, the study leader and a scientist at the University of Toronto, said the estimate of plastic pollution on the ocean floor could be up to 100 times higher than the amount of plastic floating on the surface of the water.

“The ocean surface is a temporary resting place for plastic, so the expectation is that if we can stop plastic entering our oceans, its amount will be reduced. However, our research found that plastic will continue to end up in the deep ocean, which becomes a permanent resting place for marine pollution by plastic”, said Ms Zhu.

Scientists have constructed two predictive models to estimate the amount and distribution of plastic on the ocean floor – one based on data obtained with remotely operated underwater vehicles (ROVs) and the other from underwater nets.

Using ROV-generated data, it is estimated that 3 to 11 million tons of plastic waste are on the ocean floor. The results also reveal that plastic mass is clustered around the continents – about half (46 per cent) of the plastic on the ocean floor is found at depths above 200m, while ocean depths from 200m to as much as 11,000m contain the rest (54 per cent).

Milena Maglovski

Record Reduction of 2023 ETS Emissions due Largely to Boost in Renewable Energy

08.04.2024

emisije — Photo-illustration: Unsplash (chris robert)

Last year’s emissions under the EU’s Emission Trading System (ETS) show the most significant annual emissions reductions since the ETS was launched in 2005. The main driver is the power sector’s significant progress in decarbonisation.

The data reported by EU Member States as of 2 April 2024 show a 15.5 per cent decrease in emissions in 2023, compared to 2022 levels. With this development, ETS emissions are now around 47 per cent below 2005 levels and well on track to achieve the 2030 target of -62 per cent.

The observed trend confirms the effectiveness and efficiency of the EU’s cap and trade system as the main policy instrument for the decarbonisation of the European economy.

Electricity generation – significant increase in production of renewable energy

The most important driver for the record decrease in EU ETS emissions has been the power sector, with emissions from electricity production having decreased by an impressive 24 per cent compared to 2022. This decrease is due to a substantial increase in renewable electricity production (primarily wind and solar), at the expense of both coal and gas.

The recovery of hydro and nuclear power due to more favourable climate conditions also contributed to the emissions decrease, but to a lesser extent.

Industry – emissions continue to decrease

Regarding energy intensive industry sectors, a reduction of emissions of around 7 per cent compared to 2022 can be observed. The emission reductions in the industry sector are the result of a combination of reduced output and efficiency gains which are mainly visible in cement, iron and steel.

Aviation – further rebound in emissions

Aviation emissions increased compared to 2022, by around 10 per cent. This is a consequence of the aviation industry’s continued rebound from the traffic collapse during the COVID19 pandemic.

Source: European Commission

Cellulose Plastic for a Healthier Environment

08.04.2024

plant-biljka-biljke — Photo-illustration: Unsplash (Guillaume de Gedmain)

Photo-illustration: Unsplash (Zuzanna Szczepańska)

The idea of bioplastics is not new – for some time, environmentally oriented scientists have been trying to develop a fully recyclable replacement for plastic as we know it today.

Researchers from Hokkaido University in Japan significantly contributed to these efforts by developing a suitable method for making various polymers from plant cellulose.

Cellulose is a long-chain polysaccharide polymer, which means it consists of multiple sugar groups linked by chemical bonds. To create a new class of recyclable polymers, the Hokkaido University team developed chemical processes to vary the structure of cellulose-derived polymers and create different materials for a range of applications, the university said in a press release.

One of the most abundant components of biomass obtained from plants is precisely cellulose since it forms a key part of the solid cell walls of all plant cells. As such, cellulose is abundantly available from plant wastes such as straw and sawdust, so its use as a raw material for polymer production should not affect the availability of agricultural land for food production.

Researchers believe that the new bioplastic, which is entirely stable and recyclable, will stand in the way of plastic waste, which is one of the biggest polluters of the environment.

“Our biggest challenges were controlling the polymerization reaction that links smaller monomer molecules and obtaining polysaccharide materials that are stable enough for common applications while still being able to be broken down and recycled under specific chemical conditions”, says Associate Professor Feng Li, one of the researchers.

Professor Li adds that the biggest surprise during the research was the high transparency of the polymer films they made, which could be crucial for the further application of this bioplastic.

Milena Maglovski

Energetik Energija Conquers the Regional Market

07.04.2024

Energetik-36 — Photo: Energetik energija d.o.o

As one of the leading distributors of photovoltaic components in the Balkans, Energetik energija d.o.o. offers customers the best solutions in the field of photovoltaics. We discussed everything they did this year and plans for the next with Riccardo Frisinghelli, executive director of Energetik Energija d.o.o.

Q: To be the largest regional distributor of photovoltaic materials requires continuous commitment. How do you manage to maintain such a position, what challenges do you face and how do you overcome them?

A: Honestly, I don’t know if Energetik is the largest specialized distributor of PV products in this region, I know more and more customers are putting their trust in us feeling our effort to understand them more and more. This regional market is still full of companies that do installations and distribution of products too, but the question is how they can maintain the quality of doing work so different from each other. To be a real PV specialized distributor doesn’t mean to have products in stock, it doesn’t mean having only fast logistics and it doesn’t even mean spam with dumping prices in the mailboxes of the installers. This is actually the perfect way to prove to the pv installer what you think about them.

Luckily the PV installers are more and more than the companies that only look for the best price… they buy as we buy, from the one that really proves to us availability to understand our daily troubles, to the one we feel empathic and competent about our work, the one is ready to create a tailor-made solution if I need it or a standard and fast combo of products if I need it asap. At Energetik, we’re not competitors to our customers. Our technicians continuously feed our customer’s skills on a weekly basis with our suppliers and because of their background with over 20 years of experience in real installations, they are acknowledged as pioneers of PV in the region. In Energertik we are not a competitor of our customers, our technicians are feeding their competencies on a weekly base with our supplier and because they are coming from more than 20 years of real installations, recognised as pioneers of PV in the region indeed the best answer I can give you about how we maintain such a position….it’s that we don’t think about the position at all… the position is the “side effect” of our approach to the needs of the customers.

IN FOCUS:

Q:This year, the company Energetik energija d.o.o. published the 2023 STORAGE GUIDE and STORAGE MAP. What makes these manuals important to customers and what are their impressions? Do you plan to publish more similar content in the future?

A: Knowledge and competencies, fast answers, and real solutions are our strengths. Throughout this year, we have published various tools and organized numerous educational meetings in Slovenia, Serbia, and Croatia. All of these events exceeded our expectations. In July, during an event in Belgrade, the room was so full that we asked the hotel to provide a larger space. Competencies are not something that pops up like mushrooms; they result from years of experience, mistakes, and solutions. The tools we create and the meetings we organize always include a segment featuring suppliers such as Solaredge, Sungrow, Trina, or K2 and the specific part when Energetik team explains a topic directly to the customer. These topics may cover bureaucracy, papyrology, new incentives, and more. Real discussions are conducted without wasting the time of our customers, because they don’t have time to waste, as we are well aware of it. Are we going to publish more is not a question for us. We follow the market in close cooperation with suppliers, follow every change and when it happens we always make updates and inform customers about it. The last change we made is actually a completely new Storage Map with the newest information and product from the end of October 2023. So, the new comparative table of every possible combination of inverters and batteries.

Q:We believe that 2023 was another successful year for your company’s operations. What would you point out as the most significant achievements?

A: Energetik is growing, and the numbers confirm this trend even in turbulent year 2023 for photovoltaic market. We have customers from across the EU who come every week to make purchases with us. I am confident that in Energetik, they find the same attention and approach to our work, as well as the same passion for our customers in each dept of Enetgetik. This is another confirmation that customers feel secure, understood, and indeed receive everything necessary for successfully closed deals.

Q:What are the business plans and expectations for the next year? Do you plan to organize technical training in the next year that will be available for our region?

A: I believe in the potential of this field in the region, but we are facing the same complications between end users, grid operators and politics. Usually, the end users are more ready than the others are, and sometimes this distance affects the mood of the investors. In order to grow, this field needs concrete actions from the politics and investments in roof installations for homeowners. 6 Kwp by 6Kwp, self-consumption to bring the real value of what we do… to create their own energy on the roof. I think the loud advertisement about a huge system on the ground is not exactly a big support for a guy who wants to install 6Kwp to save his own electric bill.

Interviewed by: Katarina Vuinac

Read the story in the new issue of the Energy portal Magazine RESPONSIBLE BUSINESS

ESG In the Oil Industry – Sustainable Business Implies Responsibility

06.04.2024

The focus of the last United Nations Summit on Sustainable Development Goals, which took place in mid-September, was precisely on fulfilling these goals. Officials warn that the situation is slowly but surely becoming alarming regarding the deadlines defined by the 2030 Agenda. This Sustainable Development Strategy was adopted at the 2015 Summit and incorporates universal guidelines formulated in 17 sustainable development goals, focusing on economic growth, social inclusion and environmental protection. According to available information, so far, only 15 per cent of the defined goals have been fulfilled at the global level, and the worrying fact is that this inadequate result has been achieved halfway to the set deadline by which all sustainable development goals are expected to be fully accomplished.

Sustainable development on the domestic business scene

To contribute to accomplishing the UN goals in the countries in which they operate, socially responsible companies shape their corporate policies and business strategies based on sustainable development principles. In some countries, this is also a legal obligation. In Serbia, this area is not regulated by law, but many companies have invested a lot of effort into accomplishing sustainable development goals. NIS is one of them. The company’s Sustainable Development Report recognizes 12 of the 17 UN goals, and through its activities and projects, NIS has been working toward accomplishing these goals. One of the goals that the company especially focuses on is promoting safe work, a healthy and safe working environment and environmental protection.

NIS underlines that promoting inclusive and sustainable economic growth is impossible without creating conditions that facilitate a safe and healthy work environment, primarily through improving internal tools to ensure fewer injuries at work and greater employee safety. The company adds that they set the most ambitious goal related to work health and safety: zero work injuries and occupational diseases and no negative impact on the working and living environment. NIS employees and all contractors, partners, and visitors to NIS locations must comply with prescribed security procedures. At the same time, the company is always willing and ready to implement the best global practices in this area with its partners.

IN FOCUS:

Golden HSE (Health, Safety, Environment) rules

NIS implements six golden HSE rules, which must be followed by all employees and other persons working or staying at NIS locations to increase work safety. Also, a HSE training system was formed which helps employees to acquire risk management knowledge and skills at their workplaces, while HSE training is aligned with business needs. In NIS, among other things, a modern electronic learning method was developed to be used in HSE training, which covers the HSE topics in an interesting and interactive way. The results of this training were recognized by the Directorate for Work Health and Safety of the Ministry of Labor, Employment, Veteran and Social Affairs, which, in the last two years, ranked NIS first in the competition for national work health and safety awards in the 28th April Charter category.

Environmental projects in focus

To ensure sustainable forms of consumption, NIS operations are based on a responsible attitude towards resources and environmental protection. Since 2009, the company has invested more than 900 million euros in environmental projects and projects that significantly boost environmental protection in the Republic of Serbia. One of the results is the reduction of emissions of polluting substances into the air by as much as 90 per cent over the last 10 years. NIS has also incorporated their approach towards environmental protection into the company’s mission and vision and adopted values and HSE policy, which means that the company views investments and efforts in this segment as a priority at all levels and simultaneously as a daily practice in business processes. NIS also continued to invest in the green agenda and renewable energy sources by installing 15 solar panels at the company’s petrol stations, which are estimated to reduce annual carbon dioxide emissions by 600 tons.

Daily activities related to sustainable development in all business segments contribute to the long-term sustainable development of NIS, which says that only by working in this direction can they ensure the company’s sustainable development but give a significant contribution to the accomplishment of the UN goals and therefore secure a better future for everyone.

NIS

Read the story in the new issue of the Energy portal Magazine RESPONSIBLE BUSINESS

EBRD and Erste Approve Financing for new Windfarm in Serbia

06.04.2024

windmill-vetar-vetroturbina — Photo-illustration: Pixabay

The European Bank for Reconstruction and Development (EBRD), together with Erste Group Bank AG and its local bank Erste Bank a.d. Novi Sad (Erste), have approved a financing package worth 91.4 million euros for the construction of a new windfarm in Serbia, which will be built by Enlight Renewable Energy (Enlight). The financing package will provide a major boost to the country’s goal of diversifying its energy mix.

The EBRD and Erste will provide parallel loans, worth 45.7 million euros each, including the associated debt service reserve facilities. Enlight’s local subsidiary will use the proceeds to develop, construct and operate the 94-megawatt (MW) windfarm, which has been originated by Enlight and New Energy Solutions (NES), and named in honour of Mihajlo Pupin, one of Serbia’s greatest scientists. The Pupin project is expected to begin operating commercially in the second half of 2025. It is an extension of the existing Kovacica (Blacksmith) windfarm in Vojvodina, which is also owned by Enlight and was financed by the same lenders in 2017.

Once commissioned, the Pupin windfarm will be able to supply clean, green electricity to more than 40,000 households, equivalent to the number of households in a medium-sized city like Zrenjanin. The windfarm will also help to reduce the carbon intensity of Serbia’s power sector and advance its green economy transition. Coal still dominates electricity production in Serbia and the financing package comes at a time when the country faces an urgent need to diversify away from fossil fuels to help address its long-term structural energy challenges.

This project was financed under Serbia’s first renewable energy auction for wind capacity, which took place in 2023 and awarded contract-for-difference for 400 MW. A second and third auction, each for 300 MW of wind capacity, are expected to take place in 2024 and 2025, respectively. Similar auctions will be held in parallel for solar power plants. The scheme was developed and launched with technical and policy support from the EBRD and was funded by the Swiss State Secretariat for Economic Affairs (SECO). The scheme encourages the market integration of renewables, as developers receive support in line with market prices, as well as income from the sale of electricity.

“Serbia’s decision to move ahead with auctions is proving to be a game changer in terms of unlocking the country’s renewable energy potential. We are pleased to see Pupin being the first project to reach financial close and moving quickly through implementation, proving that speed of execution and best practice in terms of environmental and social standards can go together. We are committed to support Serbia’s second wind and solar auction later this year to continue accelerating the country’s green transition”, said Matteo Colangeli, EBRD Regional Director for the Western Balkans.

“Building the Pupin windfarm in close proximity to our existing Kovacica (Blacksmith) site represents a noteworthy implementation of our ‘Interconnection Expand’ strategy. We were able to leverage the technical knowledge and transmission infrastructure that was already in place at Kovacica, resulting in greater efficiency and higher returns for Pupin. In addition, we were fortunate to engage once again with our partners EBRD and Erste for financing of the Pupin project; these are the same lenders who supported us in the development of the Kovacica site”, commented Gilad Yavetz, CEO and co-founder of Enlight Renewable Energy.

Wolfgang Hargassner, Head of Corporate Finance at Erste Group, commented: “The financing of the first windfarm project under Serbia’s new renewable energy auction scheme marks a major step on the country’s path to green energy transition and we hope it will pave the way for other projects in the future. The realisation of the Pupin project is thanks to the great cooperation and unwavering commitment among all the parties involved, including investors, banks, advisers, the power off-taker, the turbine supplier, and many others.”

Enlight, develops, finances, constructs, owns, and operates utility-scale renewable energy projects, employing solar, wind and energy storage technologies. The company operates in the United States, Israel and 9 European countries, and is listed on NASDAQ (ENLT) and the Tel Aviv Stock Exchange (ENLT.TA)

Erste Group Bank AG is one of the leading financial services providers in central and eastern Europe, with more than 16 million customers and total assets worth more than 337 billion euros.

The EBRD is a leading institutional investor in Serbia. The Bank has invested 9 billion euros across over 350 projects in the country to date.

Source: EBRD

After Slight Rise In 2023, Methane Emissions From Fossil Fuels Are Set To Go Into Decline Soon

05.04.2024

landscape-zagađenje-vazduh — Foto-ilustracija: Pixabay

Photo-illustration: Pixabay (DragonDash)

Methane emissions from the energy sector remained near a record high in 2023 – but substantial policies and regulations announced in recent months, as well as fresh pledges stemming from the COP28 climate summit in Dubai, have the potential to put them into decline soon, according to new analysis from the International Energy Agency (IEA).

The IEA’s latest update of its Global Methane Tracker is the first comprehensive assessment of global methane emissions since the COP28 climate summit concluded in December. The new IEA analysis finds that the production and use of fossil fuels resulted in close to 120 million tonnes of methane emissions in 2023, a small rise compared with 2022. Another 10 million tonnes of methane emissions came from bioenergy, mostly from the traditional use of biomass for activities such as cooking.

According to the report, the top 10 emitting countries were responsible for around 80 million tonnes of methane emissions from fossil fuels in 2023, two-thirds of the global total. The United States – the largest global producer of oil and gas – is also the largest emitter from oil and gas operations, closely followed by Russia. China is by far the highest emitter in the coal sector.

Satellites continue to bring the world’s understanding of methane emissions and their sources into sharper focus. The report, which incorporates their readings along with data from other science-based measurement campaigns, notes that satellites identified a substantial increase in major fossil fuel leaks in 2023 compared with 2022, with more than 5 million tonnes of emissions detected – including from a well blowout in Kazakhstan that went on for more than 200 days.

CAN METHANE EMISSIONS MATCH CLIMATE GOALS BY 2030

Global methane emissions remain far too high to meet international climate targets. To limit global warming to 1.5 °C, a key goal of the Paris Agreement, methane emissions from fossil fuels need to decline by 75 percent this decade, according to IEA analysis.

“A 75 percent cut in methane emissions from fossil fuels by 2030 is imperative to stop the planet from warming to a dangerous level. I am encouraged by the momentum we’ve seen in recent months, which our analysis shows could make an enormous and immediate difference in the world’s fight against climate change,” IEA Executive Director Fatih Birol said. “Now, we must focus on transforming commitments into action – while continuing to aim higher. Well known policies and existing technologies could reduce methane emissions from fossil fuels substantially. The IEA stands ready to help the energy sector meet its goals by deploying these measures, and we will continue to monitor progress – a key part of our wider efforts to ensure countries deliver on the energy promises they made at COP28.”

Efforts to cut methane emissions are expected to accelerate in 2024 and beyond, with COP28 ushering in a step-change in ambition. Nearly 200 governments agreed in Dubai to “substantially” reduce methane emissions by 2030, while significant regulatory initiatives were announced by Canada, the European Union and the United States around the time of the summit. New companies have also committed to action through the launch of the Oil and Gas Decarbonisation Charter, and more countries are joining the Global Methane Pledge – including, most recently, Azerbaijan, which will host COP29.

If all methane pledges made by countries and companies to date are implemented in full and on time, it would be sufficient to cut methane emissions from fossil fuels by 50 percent by 2030, the IEA’s new analysis finds. However, most pledges are not yet backed up by plans for implementation.

Methane is responsible for almost a third of the rise in global temperatures since the Industrial Revolution, and the energy sector – including oil, natural gas, coal and bioenergy – is the second-largest source of methane emissions from human activity. While methane in the atmosphere dissipates faster than carbon dioxide, it is a much more powerful greenhouse gas during its short lifespan. As a result, driving down methane emissions is one of the best ways to limit global warming and improve air quality in the near term.

It is also extremely cost-effective. According to the IEA’s new analysis, around 40 percent of methane emissions from fossil fuel operations in 2023 could have been avoided at no net cost, since the value of the captured methane was higher than the cost of the abatement measure. Reducing methane emissions from fossil fuels by 75 percent by 2030 would require about USD 170 billion in spending – less than 5 percent of the income generated by the fossil fuel industry in 2023.

Meanwhile, a growing number of state-of-the-art satellites monitoring methane leaks, such as the Environmental Defense Fund’s recently launched MethaneSAT, is making it easier to identify and address them. These satellites are also filling in gaps and uncertainties that remain in the data by providing timely information that may otherwise be left out of disclosures.

Currently, methane emissions implied by existing oil and gas company reporting are 95 percent lower than the IEA’s estimate for 2023, while emissions levels reported by countries are about 50 percent lower. All data informing the analysis in the latest Global Methane Tracker can be accessed for free here. An open-access model that can be used to explore methane abatement options for oil and gas operations will also be released soon.

Source: IEA

1...444546...403 Page 45 of 403

More:

More:

More:

More:

IN FOCUS:

More:

MORE:

More:

MORE:

IN FOCUS:

IN FOCUS:

MORE:

More:

Newsletter

Calendar of events

2025 April

Events for 30 April

Events for 1 May

Events for 2 May

Events for 3 May

Events for 4 May

Events for 5 May

Events for 6 May

Events for 7 May

Events for 8 May

Events for 9 May

Events for 10 May

Events for 11 May

Events for 12 May

Events for 13 May

Events for 14 May

Events for 15 May

Events for 16 May

Events for 17 May

Events for 18 May

Events for 19 May

Events for 20 May

Events for 21 May

Events for 22 May

Events for 23 May

Events for 24 May

Events for 25 May

Events for 26 May

Events for 27 May

Events for 28 May

Events for 29 May

Events for 30 May

WRITE US