Connect with us

Environment

FFI’s Annual Report shows carbon emissions remain over 460% of World Carbon Budget

Published

on

United States of America by NASA Goddard Space Flight via Flickr

The report on 200 of the largest fossil fuel companies focuses on investors, proving carbon emissions remain over 460% of world carbon budget

 

FFI, a provider of financial research and products for investors seeking to understand, measure, and act on climate risks, today launched their third annual report, The Carbon Underground 2016: Managing the Climate Risks of Fossil Fuel Companies. The report analyses the past year’s changes to The Carbon Underground 200TM (CU200), FFI’s list of the top publicly-traded coal, oil, and gas reserve owners ranked by the potential carbon emissions of their reported reserves. An analytical piece for investors and for anyone concerned about climate change, the report states that the CU200 companies own reserves that equate to 474 gigatons (Gt) of potential CO2 emissions. Although this number is down from the February 2015 number of 555 Gt, FFI emphasises that the potential future reserve-based emissions from CU200 companies remain over 460% of their allocated carbon budget to the year 2050¹. FFI collaborator and leading advisor on sustainability-related portfolio risks, South Pole Group, has provided a discussion of carbon footprinting for the report, including a carbon footprint of the CU200 based on estimated emissions from operations.

The report highlights that investor activity motivated by the financial risks of climate change has surged, accelerated by the success of the 21st UN Climate Change Conference of the Parties (COP 21) and other high-profile climate actions. The report details recent actions in the areas of divestment and shareholder engagement, and provides an overview of several other strategies that climate-focused investors can utilise to manage risk and generate returns. FFI CEO and report co-author Christopher Ito observes: “As more investors assess the impacts of a transition to a low-carbon economy, divestment, engagement, risk management, and active portfolio management will all be viewed as appropriate and even complementary responses to climate risk.”

South Pole Group’s Partner for the Financial Industry and report co-author Maximillian Horster adds: “We are pleased to complement The Carbon Underground annual report with an in-depth emission analysis of the assessed companies and a carbon footprint measurement. It is important to offer the investment community as many tools as possible to fully embrace and combat the intricate risks posed by climate change — understanding one’s carbon footprint is a first step for every climate impact assessment.”

It is important to offer the investment community as many tools as possible to fully embrace and combat the intricate risks posed by climate change.

Specific report findings on the fossil fuel industry show:

  • Most of the decline in potential future emissions has been in coal, as a result of significant coal reserves becoming uneconomic. Oil and gas emissions declined only slightly on the oil side and rose slightly on the gas side.
  • Coal usage appears to be on a permanent, steady decline in the US and Europe, but the picture in Asia is much more complex and uncertain. While clean energy use is growing in China and India and China has announced mine closures and permit moratoria in some provinces, coal production across Asia has increased overall.
  • Oil and gas emission trends demonstrate that a shift in emissions away from oil and towards natural gas is in progress.
  • The largest Russian oil companies have shown an increase in production and exploration overall.

The top 10 coal and top 10 oil and gas companies in the CU200 are listed in the report. The entire 2016 CU200 list is available for non-commercial purposes to asset owners, not-for-profit organizations, and members of the media at no cost, and is available quarterly by paid subscription for asset managers and consultants. Eligible users can download the list on the company website. For more information, visit http://www.fossilfreeindexes.com/.

 

¹This is the number required for the world to have an 80% chance to stay below a 2°C (3.6° F) temperature, according to Intergovernmental Panel on Climate Change (IPCC) models.

Environment

How To Make The Shipping Industry Greener

Published

on

By

green shipping industry

Each and every year more damage is done to our planet. When businesses are arranging pallet delivery or any other kind of shipping, the environment usually isn’t their number one concern. However, there’s an increasing pressure for the shipping industry to go greener, particularly as our oceans are filling with plastic and climate change is occurring. Fortunately, there’s plenty of technology out there to help with this. Here’s how the freight industry is going greener.

Make Ship Scrapping Cleaner

There are approximately 51,400 merchant ships trading around the world at the moment. Although the act of transporting tonnes of cargo across the ocean every year is very damaging to the environment, the scrapping of container ships is also very harmful. Large container ships contain asbestos, heavy metals and oils which are toxic to both people and the environment during demolition. The EU has regulations in place which ensure that all European ships are disposed of in an appropriate manner at licenced yards and the International Maritime Organisation (IMO) introduced guidelines to make recycling of ships safe and environmentally friendly back in 2009, but since then only Norway, Congo and France have agreed to the policy. The IMO needs to ensure that more countries are on board with the scheme, especially India, Bangladesh and Pakistan, which are some of the worst culprits for scrapping, which may mean enforcing the regulations in the near future.

Reduce Emissions

A single large container ship can produce the same amount of emissions as 50 million cars, making international shipping one of the major contributors towards global warming. Stricter emissions regulations are needed to reduce the amount of emissions entering our atmosphere. The sulphur content within ship fuel is largely responsible for the amount of emissions being produced; studies have shown that a reduction in the sulphur content in fuel oil from 35,000 p.p.m to 1,000 p.p.m could reduce the SOx emissions by as much as 97%! The IMO has already begun to ensure that ships with the Emission Control Areas of the globe, such as the Baltic Sea, the North Sea and the English Channel, are using this lower sulphur content fuel, but it needs to be enforced around the world to make a significant difference.

As it’s not currently practical or possible to completely phase-out heavy, conventional fuels around the world, a sulphur scrubber system can be added to the exhaust system of ships to help reduce the amount of sulphur being emitted.

Better Port Management

As more and more ships are travelling around the world, congestion and large volumes of cargo can leave ports in developing countries overwhelmed. Rapidly expanding ports can be very damaging to the surrounding environment, take Shenzhen for example, it’s a collection of some of the busiest ports in China and there has been a 75% reduction in the number of mangroves along the coastline. Destroying valuable ecosystems has a knock-on effect on the rest of the country’s wildlife. Port authorities need to take responsibility for the environmental impact of construction and ensure that further expansion is carried out sustainably.

Some have suggested that instead of expansion, improved port management is needed. If port authorities can work with transport-planning bureaus, they will be able to establish more efficient ways of unloading cargo to reduce the impact on the environment caused by shipping congestion.

Continue Reading

Environment

Extra-Mile Water Conservation Efforts Amidst Shortage

Published

on

water conserving

While some states are literally flooding due to heavy rains and run-off, others are struggling to get the moisture they need. States like Arizona and California have faced water emergencies for the last few years; water conserving efforts from citizens help keep them out of trouble.

If your area is experiencing a water shortage, there are a few things you can do to go the extra mile.

Repair and Maintain Appliances

Leaks around the house – think showerheads, toilets, dishwashers, and more – lead to wasted water. Beyond that, the constant flow of water will cause water damage to your floors and walls. Have repairs done as soon as you spot any problems.

Sometimes, a leak won’t be evident until it gets bad. For that reason, make appointments to have your appliances inspected and maintained at least once per year. This will extend the life of each machine as well as nip water loss in the bud.

When your appliances are beyond repair, look into Energy Star rated replacements. They’re designed to use the least amount of water and energy possible, without compromising on effectiveness.

Only Run Dishwasher and Washer When Full

It might be easier to do a load of laundry a day rather than doing it once per week, but you’ll waste a lot more water this way. Save up your piles of clothes until you have enough to fully load the washing machine. You could also invest in a washing machine that senses the volume of water needed according to the volume of clothes.

The same thing goes with the dishwasher. Don’t push start until you’ve filled it to capacity. If you have to wash dishes, don’t run the water while you’re washing. Fill the sink or a small bowl a quarter of the way full and use this to wash your dishes.

Recycle Water in Your Yard

Growing a garden in your backyard is a great way to cut down on energy and water waste from food growers and manufacturers, but it will require a lot more water on your part. Gardens must be watered, and this often leads to waste.

You can reduce this waste by participating in water recycling. Using things like a rain barrel, pebble filtering system, and other tools, you can save thousands of gallons a year and still keep your landscaping and garden beautiful and healthy.

Landscape with Drought-Resistant Plants

Recycling water in your yard is a great way to reduce your usage, but you can do even more by reducing the amount of water required to keep your yard looking great. The best drought-resistant plants are those that are native to the area. In California, for example, succulents grow very well, and varieties of cactus do well in states like Arizona or Texas.

Install Water-Saving Features

The average American household uses between 80 and 100 gallons of water every single day. You obviously can’t cut out things like showering or using the toilet, but you can install a few water-saving tools to make your water use more efficient.

There are low-flow showerheads, toilets, and faucet aerators. You could also use automatic shut-off nozzles, shower timers, and grey water diverters. Any of these water saving devices can easily cut your water usage in half.

Research Laws and Ordinances for Your City

Dry states like California, Arizona, New Mexico, and Nevada must create certain laws to keep the water from running out. These laws are put into practice for the benefit of everyone, but they only work if you abide by the laws.

If you live in a state where drought is common, research your state and city’s laws. They might designate one day per week that you’re allowed to water your lawn or how full you can fill a pool. Many people are not well versed in the laws set by their states, and it would mean a lot to your community if you did your part.

Continue Reading
Advertisement

Facebook

Trending