Fears of ‘catastrophic’ sea-level rise as ice sheets melt faster than estimated
Glaciologists fear they may have seriously underestimated the potential for melting ice sheets to contribute to sea-level rises in coming decades. The ice sheets of Greenland and Antarctica contain about 99.5 percent of the Earth's glacier ice and could raise sea levels by 65 metres if they melted completely – although experts think this is highly unlikely in the foreseeable future. However, a survey published in the journal, Nature Climate Change, of the world's top glaciologists found most believe glacial melting could be more rapid and severe than previously estimated. They predict that melting of the ice sheets this century is likely to raise average global sea level by 29cm, with a five percent chance of it increasing even further – by a catastrophic 84cm. (Independent)
Uruguay set to become world leader in wind power
Uruguay plans to produce 90 percent of its electricity from renewable sources by 2015. Electricity generated from wind is expected to make up 30 percent of the country’s total mix, with hydropower contributing 45 percent, and biomass 15 percent, according to reports from SmartPlanet. If it is successful in reaching its targets, Uruguay would move ahead of the world’s leading user of renewable energy, Denmark. South America has seen rapidly increasing levels of investment in renewable energy over the past year: Vestas last week signed a deal to supply a new 90MW wind farm in Chile, while Ecuador completed its first wind farm at the start of this year. (Business Green)
More companies sign up to Sustainable Shipping Initiative
Global specialty chemicals company Akzonobel has joined the ‘Sustainable Shipping Initiative’ (SSI), a global coalition of companies and shipping leaders from around the world. AkzoNobel will join more than 18 global companies already involved, including key industry players such as Maersk Line, Lloyd's Register, Cargill, DNV and Unilever. According to the SSI facilitator, Forum for the Future, it is the first time the shipping industry has joined forces on such a cooperative global scale to tackle big sustainability issues. (Edie)
Upfront fees in green deal ‘will put people off’ homes upgrade
It is feared that upfront charges of up to £150 will put householders off the UK Government's flagship plan to improve the energy efficiency of 14m homes. Launching this month, the ‘green deal’ allows householders to take out a loan with companies who undertake work such as upgrading old boilers and lagging lofts, with the repayments theoretically offset by energy savings. However, a Guardian survey of the 24 companies listed as domestic "assessors" for the scheme found that five will charge up to £150 for an upfront assessment fee. Campaigners and MPs have voiced concerns that this will put off those homeowners interested in ‘greening’ their homes. (Guardian, Business Green)
Corporate Reputation
Banks near $10bn foreclosure agreement
The largest US banks are close to a $10bn settlement with regulators to resolve claims that they broke rules when seizing the homes of customers who defaulted on their mortgages. JPMorganChase, Bank of America, Citigroup, Wells Fargo and ten other mortgage servicers are expected to sign up to the agreement, which will see them pay about $3.5bn in cash to homeowners who were evicted from their properties and separately reduce the loan balances on homeowners who are currently struggling with their mortgage payments. The deal replaces an earlier 2011 settlement for foreclosure rule-breaking. (Financial Times*)
Consumers
TV ads to show hidden danger in popular foods
A graphic Government television campaign highlighting the levels of sugar, fat and salt in everyday foods, including a cola bottle holding 17 cubes of sugar, will be launched on UK primetime TV this week. The adverts will bookend commercial food adverts, including those from Asda, the Co-Op and Quorn, featuring their healthier ranges. The campaign is part of the ‘Change4Life’ scheme. The campaign also brings up the issue of food labelling as the government’s failure to introduce a mandatory uniform labelling system has been criticised in the past by the health sector. However government politicians have finally won agreement from major supermarkets to introduce a traffic light system of labelling on a voluntary basis in 2013. (Guardian)
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