Plus: Banks scrutinizing financed emissions; Hydrogen and carbon capture plans in Texas; 450 GW renewables planned for China’s Gobi desert
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Observations, Comments & Questions
A rather large number of companies are voluntarily “moving the climate goal posts” by setting net zero ambitions earlier than 2050 popularized by the Paris Agreement. There are now over 300 signatories representing over $3.5 trillion in annual revenues that have pledged net zero by 2040. So 2040 is becoming the new 2050, it seems. See the first feature story.
Next, proving the provenance and emissions footprint for the supply of raw materials and energy is becoming more important as better visibility into lifecycle emissions is needed to benchmark companies against each other. Check out the second feature story where the use of digital twinning technology is being applied to lithium processing. I’ve also heard of blockchain-like technology for provenance tracing. In other cases, sustainability certification schemes are being pursued by early movers to differentiate their products, attracting ‘green-cred’ price premiums. All of this is being driven by movement in the finance sector to improve transparency and visibility of ESG information to better compare performance among companies. Just look in the Finance section for what the banks are doing.
I had heard of re-powering wind turbines, but now the same concept is being applied to solar farms. In the case of wind turbines, the turbine in the nacelle was swapped out for a newer turbine that produces more electricity. Now, older solar panels are being found to be degrading faster than expected and so it is making it economic for companies to swap in newer panels that perform better and degrade more slowly. Most panel makers say panels last about 25 years. Repowering a large solar farm in year seven triggers a decision about what to do with all the old panels. But solar panels are not designed with circularity in mind and are tricky to recycle. Whereas the EU has rules for accountability of electronic waste and requirements for recycling, the US has no national policy leaving to to the states to regulate – with only four doing so thus far. Industry associations in Europe and the US have stepped in to help and some recycling is getting going, though it can’t be cheap. Like the US, Canada, has no national legislation and no domestic recycling facilities exist. I admit it is not an area I have researched a lot and repowering of solar farms may be limited to only early solar farms. That said, I’m left wondering about life cycle emissions for the power generated, the remaining waste and where it all goes. If you’re an expert in this area, please illuminate us.
Feature Stories
2040 is the new 2050: Amazon pledge attracts commitments from 95 companies | edie
Shipping giant Maersk and facilities management firm Mitie are among the 95 new signatories of Amazon’s Climate Pledge, which requires supporters to reach net-zero by 2040 at the latest. The new signatories bring the total number of businesses committed to the Pledge, which is co-orchestrated by Amazon and Global Optimism, past 300 for the first time. Signatories now represent more than $3.5trn in annual revenues, up from $1.8trn in September 2021.
Circulor partners with Canada’s Rock Tech Lithium to provide supply chain provenance and emissions traceability for Europe’s first lithium refinery | Circulor
Circulor, the leading sustainable supply chain traceability provider, today announces a comprehensive partnership with Rock Tech Lithium, the Canadian-German cleantech company, to ensure the production of German-made lithium hydroxide with the lowest possible environmental impact. London-headquartered Circulor will ensure traceability and dynamic CO2 tracking for Rock Tech’s plant in Brandenburg, which is expected to produce 24,000 metric tons of lithium hydroxide a year – enough for the batteries of half a million electric vehicles.
Suburbia is Subsidized: Here’s the Math
Finance & Sentiment
ESG fund bosses under rising pressure to axe gas as war rages | Bloomberg via JWN
Asset managers are under renewed pressure to blacklist gas from ESG funds, as activists slam European plans to call the fossil fuel “green” in the middle of a war that has exposed the region’s energy dependence on Russia.
BMO aims to cut emissions from energy loans in net-zero push | BNN Bloomberg
Bank of Montreal laid out a plan to sharply reduce emissions connected to loans to the energy and power-generation sectors by 2030 as its aims for a longer-term goal of being net zero.
TD Outlines its Climate Action Plan, Unveils Scope 3 Financed Emissions Targets for Energy, Power Sectors | ESG Today
TD Bank Group announced today its first set of sector-specific interim financed emissions reduction targets, unveiling 2030 goals for the energy and power generation sectors. The new commitments were released with the publication of a new paper detailing the bank’s climate action plan methodology, along with its ESG reporting suite.
$130trn investor coalition commits to end support for corporates that block climate action | edie
A coalition of major international investment groups have collaborated on a new standard designed to stop corporates from lobbying to “delay, dilute and block” action in line with climate science.
Siemens Launches $100 Million Program to Fund SME Decarbonization | ESG Today
Technology-focused industry, infrastructure, transportation, and healthcare solutions company Siemens announced a new $100 million capital program, aimed at advancing and supporting decarbonization goals and efforts for small to medium enterprises (SMEs).
Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition | CNBC
Shell’s board is being sued for failing to prepare the multinational oil and gas company for the transition away from fossil fuels. Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its claim against the company’s 13 executive and non-executive directors. It argues the board’s failure to implement a climate strategy that truly aligns with the landmark Paris Agreement is a breach of their duties under English law.
Technology
Hydrogen
Three US states announce partnership for green hydrogen production hub | pv magazine
The governors of Louisiana, Oklahoma, and Arkansas announced that their states have entered into a three-state partnership to establish a regional hub for development, production, and use of clean hydrogen as fuel and manufacturing feedstock.
Ørsted and Maersk plan giga-scale US wind and solar-powered green fuels project | WindPowerMonthly
Danish developer Ørsted teams up with shipping giant Maersk to use wind and solar to produce green methanol. Ørsted plans to build 1.2GW of new onshore wind and solar in the US Gulf coast, with the electricity used in a 675MW power-to-x facility that will produce 300,000 tonnes of e-methanol per year to fuel Maersk’s new fleet of a dozen methanol-fuelled container vessels.
EU unveils €300m plan to fund hydrogen research | edie
The EU’s Clean Hydrogen Partnership, a public-private undertaking, has launched its first call for proposals on 41 research topics related to hydrogen. Much of the funding will go towards hydrogen production and storage.
Germany weighs Norway hydrogen pipeline to avoid Russian energy | JWN
Germany and Norway are considering building a hydrogen pipeline linking the two nations to reduce Europe’s dependence on Russian energy supplies.
Saudi Arabia to Start Building Green Hydrogen Plant in Neom | BNN Bloomberg
Saudi Arabia will start construction of a green hydrogen plant as soon as this month as it pushes ahead with plans to export the fuel in about four years. The kingdom is on track sell carbon-free hydrogen from a $5 billion project in Neom by 2026, according to Peter Terium, the head of energy and water for the new region.
Germany Weighs Norway Hydrogen Pipeline to Avoid Russian Energy | BNN Bloomberg
Germany and Norway are considering building a hydrogen pipeline linking the two nations to reduce Europe’s dependence on Russian energy supplies.
Carbon Capture
Continental Resources Enters Carbon Capture Space with $250 Million Investment | Hart Energy
Continental Resources Inc. has pledged $250 million to create the largest carbon capture and sequestration (CCS) project of its kind in the world to be centered in the Williston Basin, marking the U.S. shale producers entrance into the burgeoning carbon capture space. The Summit Carbon Solutions project will primarily capture CO from ethanol plants and other industrial sources in Iowa, Nebraska, Minnesota, North Dakota and South Dakota.
Carbon-Capture Startup Using Dirt Cheap Material Raises $53 Million | BNN Bloomberg
A California-based startup has found a way to use limestone — a cheap and widely available material — to remove carbon dioxide directly from the air, potentially overcoming a major hurdle in scaling up the technology needed to avoid catastrophic global warming.
ExxonMobil plans new hydrogen and CCS facility | The Chemical Engineer
EXXONMOBIL has announced that it is planning a hydrogen production plant and carbon capture and storage project at its site at Baytown, Texas, US. The carbon capture infrastructure will have the capability of transporting and storing up to 10m t/y of CO2, which more than doubles Exxon’s current capacity.
Talos Energy secures site for its Texas CCS project | Upstream
Talos Energy announced Wednesday it executed definitive lease documentation with the Texas General Land Office for its carbon capture and sequestration site. The Bayou Bend CCS project, a venture with Talos Energy and Carbonvert, won its bid in August to establish a CCS project capable of sequestering 225 million to 275 million tonnes of carbon dioxide in its 40,000 acres near Beaumont and Port Arthur, Texas.
Nuclear
Czech Republic opens tender for new nuclear reactor | AP News
The Czech Republic launched a tender on Thursday to build a new reactor at the Dukovany nuclear plant as the country aims to increase nuclear power generation.
Smart Grid
Nearly 28 million smart meters have been installed in Great Britain | Current±
[Excerpt] Recent figures from ElectraLink found that installations of smart meters in Britain jumped 21% in 2021, with 2.4 million smart meters installed across the year. By the end of 2021, there were 27.8 million smart and advanced meters in homes and small businesses in Great Britain.
Google forges ahead with plans for hourly renewable electricity tracking | edie
Google has stated that it is working to “fully develop and widely deploy” a tool that will enable governments, businesses and energy system operators to track renewable electricity generation and consumption in real-time.
Energy Storage
GM, Posco to build $500-million cathode material factory in Quebec to supply Ultium battery factories | Electric Autonomy
General Motors Canada and Korea-based Posco Chemicals have chosen Bécancour Industrial Park in Quebec, near Trois Rivières, as the site of a new $500-million cathode active material (CAM) factory.
BASF picks Canada to expand supplies for booming EV battery market | Financial Post
BASF SE secured land for a planned battery materials facility in Canada, and the country’s industry minister said on Friday it would be the “first pillar” of the country’s drive to ensure the future of the electric vehicle manufacturing sector.
Eraring battery to be built in two stages, as Origin targets 2GW virtual power plant | RenewEconomy
Origin Energy says it will build the massive Eraring battery over two stages, and is also aiming to grow its in-house “virtual power plant” to 2GW or more to provide a “very low cost” replacement for the country’s biggest coal generator.
Solar and Wind
China aims to build 450 GW of solar, wind power on Gobi desert | Reuters
China plans to build 450 gigawatts (GW) of solar and wind power generation capacity on the Gobi and other desert regions, the chief of the state planner said on Saturday, as part of efforts to boost renewable power use to meet climate change goals.
Colombia Opens Up for Offshore Wind, CIP Enters with 350 MW Project | Offshore Wind
The Mayor of the Colombian city of Barranquilla, Jaime Pumarejo, is set to sign an agreement with the Danish offshore wind investor/developer Copenhagen Infrastructure Partners (CIP) for a 350 MW offshore wind project.
Danish developer unveils plan for 3-GW wind farm off Western Australia | Renewables Now
Danish firm Copenhagen Energy has laid out plans for the construction of a 3-GW offshore wind park with up to 200 turbines off the coast of Western Australia. The renewable energy company last week submitted its plan for the so-called Leeuwin Offshore Wind project to the federal government.
PV, battery, hydrogen park to replace coal plant in Australia | pv magazine
A multibillion-dollar solar, battery storage, wind and potentially green hydrogen project in the Australian state of Victoria is moving forward after securing backing from the Hostplus superannuation fund. The planned project is owned by Octopus Australia, under its joint venture with Clean Energy Finance Corp.
Virginia approves 1 GW renewable energy expansion by Dominion Energy | Utility Dive
Dominion Energy will need to maintain a similar pace of development for years in order to meet a state-mandated decarbonization target, according to a company spokesman.
Transportation
Maersk Sources Over 700,000 Tonnes of Green Methanol to Drive Sustainable Shipping Goals | ESG Today
Integrated container logistics company A.P. Moller – Maersk announced today a series of agreements to source at least 730,000 tones of green methanol per year by the end of 2025.
North volt plans 60-GW battery plant in Northern Germany | BNN Bloomberg
Swedish battery-maker Northvolt AB is building a new plant in northern Germany as European car manufacturers accelerate their shift to electric vehicles. The factory, dubbed “Northvolt Drei,” would produce 60-gigawatt hours of battery capacity annually, enough for around 1 million electric cars.
BYD Follows Tesla in Hiking Prices on Rising Raw Materials Costs | BNN Bloomberg
Chinese automaker BYD Co. is raising the prices of its new-energy vehicles for a second time in less than two months, citing surging raw material costs. Tesla Inc. also hiked prices in China and the U.S. twice in less than a week, with CEO Elon Musk warning the company is facing “significant” inflationary pressures around raw materials and logistics.
Lucid Signs Deal for Saudi EV Plant, First Outside the U.S. | BNN Bloomberg
Luxury electric vehicle maker Lucid Group Inc. signed a deal to open a manufacturing plant in Saudi Arabia’s west coast, the company’s first site outside the U.S. The company aims produce 150,000 vehicles a year initially at the King Abdullah Economic City.
A company aims to snuff out range anxiety by offering 100 miles in 5 minutes | Interesting Engineering
And this threshold could be broken in just two years. Specializing in extreme fast charging (XFC) battery technology for electric vehicles, StoreDot aims to solve range anxiety, which is a well-known type of anxiety among EV owners. With its “100inX” technology roadmap, the company aims to achieve a mileage of 100 miles per five minutes of charging by 2024, according to a press release.
Electric school buses are reaching cost parity with diesel, and a California district will deploy one of the largest e-bus fleets in the state | Electrek
Lots of news in the segment of electric school buses this week, as Highland Electric Fleets signed an agreement with Thomas Built Buses to provide lower upfront costs to customers and expedite EV adoption; their letter of intent will put the price of an electric bus at cost parity with the traditional diesel option. On the opposite US coast, InCharge Energy and its partners announced a project in Southern California to deploy 42 electric school buses, calling it the largest fleet in the state.
Saskatoon buying two electric buses, sees potential $66-million savings from a full fleet transition | Electric Autonomy
After a successful 12-month electric bus pilot, the city of Saskatoon has concluded it can save up to $66 million if it replaces its public transit fleet with 100 per cent electric buses.
After creating separate EV business, Ford accelerates electric mobility plans in Europe | edie
Ford has confirmed that it will launch seven new fully electric car and van models in Europe by 2024 and has increased its electric vehicle (EV) sales target for the European market as a result.
Policy
EU countries agree world’s first carbon border tariff | edie
The EU’s 27 economy ministers have agreed to introduce a carbon levy on imports of highly-polluting goods like steel, cement and fertilisers, but kicked the can down the road on controversial aspects like the use of revenues coming from the scheme. EU countries want the levy to cover cement, aluminium, fertilisers, electric energy production, iron and steel. But despite the agreement among ministers, EU countries are not ready yet to enter final negotiations on the law with the European Parliament, which has equal say on the matter.
EU Aims to Cut Dependence on Russian Gas by Almost 80% This Year | BNN Bloomberg
The European Union’s executive arm is mapping out a path to end the bloc’s reliance on Russian gas which could see import needs cut by almost 80% this year, according to two officials with knowledge of the matter.
Von Der Leyen Eyes Ending EU’s Russian Energy Reliance by 2027 | BNN Bloomberg
European Commission President Ursula von der Leyen is seeking the political green light from European Union leaders to propose in May measures to phase out dependencies on Russian fossil fuels by 2027.
[UK] MPs and local authorities back Local Electricity Bill to reduce reliance on imports | edie
More than 300 MPs, including Labour leader Sir Keir Starmer and the chairman on the 1922 Committee, and 100 local authorities have backed a new “Local Electricity Bill” aimed at promoting renewable sourcing projects across the UK and move away from foreign gas imports.
The EU plan to drastically ramp renewables to replace Russian gas | pv magazine
The European Commission yesterday announced its intent to remove demand for two-thirds of its Russian gas supply in less than nine months and hugely accelerating the rate of solar deployment is a central part of its radically raised clean energy ambition.
Germany to spend $220 billion for industrial transformation by 2026 | Reuters
Germany has earmarked 200 billion euros ($220 billion) to fund industrial transformation between now and 2026, including climate protection, hydrogen technology and expansion of the electric vehicle charging network, its finance minister said.
EPA officially reinstates California’s authority to craft its own vehicle emissions standards | CNN
The Environmental Protection Agency has restored California’s authority to implement its own greenhouse gas emission standards and zero-emission vehicle sales mandates, the agency announced Wednesday. It is also allowing other states to adopt California’s stricter standards in lieu of the federal rules
Victoria sets “game changing” offshore wind target of 9GW to replace coal | RenewEconomy
Victoria has announced an ambitious new plan to accelerate the rollout of offshore wind energy generation projects in the state, setting rolling targets of 2GW installed by 2030, 4GW by 2035, and 9GW by 2040.