G7 nations pledge to end fossil fuel subsidies by 2025
The G7 nations have for the first time set a deadline for the ending most fossil fuel subsidies, saying government support for coal, oil and gas should end by 2025. “Given the fact that energy production and use account for around two-thirds of global greenhouse gas emissions, we recognise the crucial role that the energy sector has to play in combatting climate change,” said the leaders’ declaration. Across the G7, subsidies are already falling, assisted by falling commodity prices. A notable exception is the UK, which increased subsidies by opening up new tax breaks for North Sea oil producers. Japan has been criticised for funding new coal projects, both at home and abroad. Shelagh Whitley, a research fellow at the Overseas Development Institute, called it an “historic day” but said 2020 was a more appropriate date. (Guardian)
How sustainable diets will future-proof the foodservice sector
Foodservice companies promoting sustainable food and diets will enjoy a greater boost to their business in the longer term, according to a recent WWFreport. The report which is the result of a three-year partnership between WWF-UK, the Food Ethics Council and catering company Sodexo, urges foodservice firms to pilot sustainable menus, remove unsustainably sourced ingredients and share best practices across the industry. The report argues that consumers are increasingly demanding healthier and more sustainable food, as well as greater knowledge of where their food is sourced from. With farming responsible for 20 to 30 percent of the world’s greenhouse gas emissions, educating consumers about sustainable diets can provide wider environmental benefits while helping secure the future supply chain for the food sector, the report said. (Greenbiz)
Corporate Reputation
Volkswagen’s emissions cheating hits profit at biggest brand
Profit at Volkswagen’s namesake brand crumbled 86 percent in the first quarter of 2016, highlighting the challenge the carmaker faces in emerging from the nearly nine-month-old emissions cheating scandal. The company has “achieved respectable results under difficult conditions,” Chief Executive Officer Matthias Mueller said. “2016 will be a transitional year for Volkswagen that will see us fundamentally realign the group.” Volkswagen still has a long way to go to put the crisis into the past. Investigations into the origin of the cheating will drag on until the end of the year, and the company must hammer out a settlement with US authorities by the end of June. A European recall will probably last until at least early 2017. (Bloomberg)
Energy
Indian energy efficiency spend set to hit $5 billion by 2020
Spending on energy efficiency in India could hit $5 billion by 2020, according to the latest report from Sustainable Outlook. The consultancy estimated the potential spend on energy efficiency for industries taking part in the Indian government’s Perform-Achieve-Trade (PAT) scheme to amount to $5 billion over the next four years. Participation in the energy certificate-trading scheme has been mandatory since 2010 for eight high-energy sectors including the aluminium, cement and pulp industries. The analysis found that sector-specific process innovations would account for over half of the estimated investment potential overall, and up to 95 per cent in some industries such as the aluminium and chlor alkali sectors. Meanwhile, cross-sector technologies such as variable frequency drives and waste heat recovery systems will also play a key role. (Business Green)
Research & Policy
Chaotic urbanisation puts cities in harm’s way
The risk of man-made and natural disasters hitting fast-growing cities is rising, and national governments must do more to help municipal authorities protect residents through better planning, according to the head of the UN agency for human settlements. UN-Habitat Executive Director Joan Clos said urbanisation was accelerating, particularly in developing countries, while the capacity to keep it manageable was diminishing. The proportion of the global population living in urban areas is predicted to reach 70 per cent by 2050, from 55 per cent today. National governments must step up and provide direct support to local officials so they are better equipped to carry out urban planning, Clos said. What national governments do is crucial because they set the “rules of the game” – from land legislation to the powers of local authorities, he added. (Eco-business)
Image source: Cityscape by Unsplash / Public Domain
COMMENTS