TECHNOLOGY & INNOVATION

Hyundai promises hydrogen version of all commercial models by 2028

South Korean automaker Hyundai has unveiled a new hydrogen strategy, including a commitment to apply hydrogen fuel cell systems to all models by 2028.  Hyundai’s global hydrogen strategy is headlined by a vision to popularise green hydrogen in the transport and industrial sectors by 2040. The strategy features plans for a hydrogen version of all commercial Hyundai models to be brought to market by 2028, with the company planning to launch its next-generation hydrogen fuel cell system in 2023. A hydrogen tractor and a purpose-built vehicle for the European light commercial vehicle market are also expected to launch in 2023. In the same week, Japanese automaker Toyota has outlined plans to spend more than $13.5 billion on electric vehicle battery supply chains and R&D activities by 2030.  (edie)

CLIMATE CHANGE

Zurich Insurance joins corporate squeeze on air travel to cut emissions

One of the world’s largest insurers, Zurich, has pledged to slash emissions from air travel, the latest big global employer to seize on working practices introduced during the pandemic to cut its carbon footprint. The Swiss company said that from 2022 it plans to cut emissions generated from flights for employees to 70% below pre-pandemic levels as one of several changes designed to help the group meet an existing goal of halving its greenhouse gas emissions by 2025. Several large European companies have said they will reduce business travel including Lloyds Banking Group that pledged to keep carbon dioxide emissions from travel to under 50% of 2019 levels, and ABN Amro that aims to halve its air travel compared with 2017 over the next five years. (Financial Times)*

ENERGY 

Concerns raised over lifecycle impact of 'sustainable' marine fuels

The Sustainable Shipping Initiative (SSI) has warned that attempts to assess the sustainability of fuels used to help decarbonise the shipping industry must consider aspects beyond their immediate carbon impact. The report highlights 15 sustainability issues shipping operators should consider when choosing new marine fuels to drive sector decarbonisation. Environmental aspects, such as air quality and ecological impacts, of fuels should be considered in addition to the carbon intensity of fuels. It also stresses that social and economic impacts, such as labour and human rights, economic wellbeing and food security, should be a consideration for the fledgling green maritime fuel sector. The report comes days after the International Chamber of Shipping (ICS) proposed to the International Maritime Organisation (IMO) the implementation of a levy on carbon emissions from ships. (Business Green)

LOBBYING

Australia’s pro-climate companies urged to lobby government more

Australian companies that say they support action to address the climate crisis do little to no lobbying of governments compared with vocal fossil fuel industries, according to climate thinktank InfluenceMap.  The thinktank’s new interactive platform examined the climate lobbying positions of 50 major companies and 20 industry groups operating in Australia. It found that while the fossil fuel sector was highly engaged in climate lobbying, pro-climate companies were not. InfluenceMap said this contrasted with the situation in other developed countries, where large businesses wanting climate action were found to be far more engaged in developing climate policy. The research found the Australian entities most likely to be publicly supportive of action on climate change tended to be financial institutions at risk of losing money on stranded assets or natural disasters. (The Guardian)

RENEWABLE ENERGY

China leads as new global offshore wind projects dip slightly in 2020

Global installations of offshore wind farms fell slightly in 2020, reaching the second-highest tally since a record in 2019, with China installing the most. Many countries are seeking to boost their renewable power capacity as they strive to curb emissions and meet climate targets. Some 6.1 gigawatts (GW) of new offshore wind capacity was added in 2020, second only to 2019 with a record 6.2 GW of new projects. However, the Global Wind Energy Council warns that the pace of new projects is still too slow if targets for net-zero emissions by 2050 are to be met. The International Energy Agency estimates that 80 GW of offshore wind will need to be added globally each year by 2030 to set the world on course for reaching net-zero emissions by 2050. (Reuters)

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