For Tuesday 3 November 2020 provided by Ecoprofit.com.au (#letsfindsolutions)
News for green investors and organisations, stock watch & grant opportunities
2?C Warming is Possible, But???
The latest edition of the, 30-year?New Energy Outlook?forecast produced by New York-based analyst?Bloomberg?has estimated the world is currently on track for a temperature rise of?3.3 degrees Celsius?this century. There is still a ?2C’ route open, according to the report, but it would need $78-130 trillion of new investment.
Numerous studies have attempted to quantify how much money would be required to mitigate the impacts of climate change in the absence of a clean energy transition. Under the business-as-usual scenario envisaged by the report,?solar?and wind generation would supply?56%?of the world’s electricity by 2050 and, together with battery?storage, would hog almost $12.1 trillion of the $15.1 trillion Bloomberg expects to be invested in new power capacity over the next three decades. The analyst expects an additional $14 trillion to be spent on grids during that time.
Path to 2?C
The latest?New Energy Outlook?features a clean electricity and hydrogen-driven ?climate scenario’ path to less than 2C global heating but the report estimates it would require 100 PWh of electricity generation ? with a third of it used for?green hydrogen?generation from renewables, using?electrolysis. If the world plans to use the cheapest sources of electricity ? solar and wind ? that would require enough generation facilities to cover roughly the size of India, the report’s authors stated.
Jon Moore, CEO of the Bloomberg New Energy Finance wing of the business intelligence company which produces the forecast, said the next ten years would be critical in determining the global temperature rise in prospect and called for faster deployment of solar and wind power and speedier take-up of?electric vehicles?(EVs).
The forecast was vague on the date when EVs are expected to reach?price parity with conventional vehicles?with a press release issued by BloombergNEF on Tuesday to publish the report mentioning only: ?the years leading up to the mid-2020s.? That inflection point would help?peak oil?demand arrive in 2035 and thereafter fall, but only by an expected 0.7% annually, to revert to 2018 levels by mid-century.
The report anticipates coal demand will?peak in China?by 2027 but in?India only in 2030, with the heavily polluting fuel still supplying 12% of the world’s electricity in 2050. The forecast also tacitly acknowledges the role?natural gas?will continue to play in the global energy system, with demand set to rise 0.5% per year to mid-century, with its use in buildings rising 33% and for industry 23% by mid-century.
The outlook did at least join the voices predicting emissions from fuel combustion?peaked?last year, and predicted carbon emissions from that source will decline 0.7% annually from 2027 on. The report added, the Covid-19-related?fall in energy demand?seen this year will remove 2.5 years’ worth of energy-related emissions by mid-century.
Grants/Subsidies/Funding ? Bushfire Community Recovery and Resilience Fund PHASE TWO STREAM 2
Phase Two of the Bushfire Community Recovery and Resilience Fund (BCRRF) will support community recovery by funding $25 million worth of projects that will promote community well-being, social and broader recovery and future disaster resilience following the bushfires. Stream 1 involves allocation of funds to local councils for smaller-scale, short term community projects.
Stream 2 will involve allocation of grants to medium and long-term community projects. This guideline covers BCRRF Phase Two Stream 2. The funding for the BCRRF is provided through the joint Commonwealth-State Disaster Recovery Funding Arrangements. The BCRRF guidelines have been developed in consultation with Emergency Management Australia and are supported by the National Bushfire Recovery Agency. Funding will be made available to support community recovery of areas in New South Wales impacted by the unprecedented bushfires from 31 August 2019 onwards. Resilience NSW are the lead disaster management agency for NSW, responsible for all aspects of disaster recovery and building community resilience to future disasters.
The objective of Phase Two Stream 2 of the BCRRF is to support social recovery from bushfires for affected local communities to:
- Reduce the adverse impact of the bushfires and make a sustained recovery, and
- Be more resilient to future disasters and improve general wellbeing.
Funding Phase Two Stream 2 will allocate funding aligned with the bushfire declared Local Government Areas (LGAs) in the form of a competitive grants program. Funding is available for approved projects with a value of no less than $20,000 and no more than $300,000. Funding will be administered by Resilience NSW. Funding will be provided for the value of the project as per the submission. Funding may be provided in instalment(s) depending on the proposed project size and delivery duration stipulated in the application. Applications will be assessed at a regional level using Regional Panels (RPs); Southern RP, Northern RP and Greater Sydney, Hunter & Central RP.
Eligible applicants, referred to as lead organisations, are:
- Incorporated non-government organisations including not-for-profit organisations,
- Local community groups, business chambers and industry groups/peak bodies,
- Local councils,
- Joint organisations of council,
- Unincorporated community groups auspiced by an organisation that is eligible to apply in their own right.
Projects Phase Two Stream 2 funding is focused on delivering projects that support sustained community recovery and improved community resilience in bushfire impacted areas. Projects can be aligned to local, regional or across multiple Local Government Areas. Projects will need to contribute to one or more of the following Disaster Recovery Outcomes:
- The needs of vulnerable groups are addressed in disaster recovery.
- The community is aware of the disaster recovery processes.
- The community can express its changing disaster recovery needs.
- Community members are aware of the risks of future disasters
- The community has improved capacity and capability to respond to future disasters
- Business and not-for-profits have in place adequate mitigation practices for risks and threats.
- Government, private sector, civil society and organisations are engaged in plans for preparedness and management of the recovery.
CTI launches Youth Suicide Awareness month
As climate change events increase in number and ferocity, so does climate change risk for businesses and organisations. To remove or control this risk, organisations need to be equipped with the right practical knowledge.
Carbon Training International (CTI) offers courses that give clear direction to understand how to deal with climate change risk.
CTI courses include Strategic Carbon Management, Carbon Accounting, Applied Energy Efficiency, Reducing Fleet Emissions and Carbon Offsetting.
For all courses commencing in November, CTI is donating 10% of total course fees received to Headspace ? Youth Mental Health Foundation (https://headspace.org.au/) towards raising awareness of the worsening issue of youth suicide.
You can easily enrol in one of CTI?s online webinar courses at https://co2ti.com/. Just choose your preferred course and course start date. Extra course dates can be arranged.
The good news: carbon emissions and business costs are linked. The more an organisation reduces its carbon emissions the more it reduces its costs.
Eco-tip for the day ? Don?t waste
As David Attenborough says:
?Don?t waste. Don?t waste anything. Don?t waste electricity, don?t waste food, don?t waste power. Just treat the natural world as though it?s precious, which it is.”
Share watch ? Australian Strategic Materials (ASX: ASM)
ASM, through its subsidiary ASM Technology Corporation Pty Ltd, has successfully completed the acquisition of 95% of its joint venture partner Ziron Tech, and through the acquisition now owns Ziron Tech?s patented low emission, high purity metal-refining technology and the pilot plant in Korea.
ASM Managing Director, David Woodall said:
?We welcome the Ziron Tech team to ASM. This talented team, led by Professor Jonghyeon Lee, has successfully produced metal from all products of our Dubbo Project in central west NSW.
Having the Ziron Tech team continue the innovative work on a range of high-purity and value-added critical metals used in advanced technologies, including electric vehicles and clean energy, gives ASM a strong foundation for success.?
?With the recently announced development of our first commercial metallisation plant in South Korea, the Ziron Tech team is now progressing towards a continuous production process at scale in Korea where there is an established tech manufacturing industry and market for these metals. With the changing dynamics of the critical metals supply chain, ASM is well placed to play a significant role in the global critical metals market, with significant benefits for both Australia and Korea,? Mr Woodall said.
ASM is focused on producing specialty metals and oxides for advanced technologies and is the 100% owner of the Dubbo Project. Located in central-western NSW, ASM?s cornerstone Dubbo Project has a long-term resource of zirconium, rare earths, niobium and hafnium? a globally significant source of these critical materials for a diverse range of emerging and sustainable technologies.
ASM, together with its partners, is advancing oxide separation and metallisation technologies to create a range of value-added materials from the Dubbo Project. ASM?s pilot plant in South Korea has been completed with successful production of titanium, neodymium, praseodymium and dysprosium metal. ASM?s innovative metallisation process is energy efficient (titanium production uses 70% less energy) and has significant environmental advantages than the industry standard Kroll process.
The share price for the last year is shown above.
The VIX fear gauge up by 4.67 points since last Tuesday EST to 37.13.
The Dow Jones Industrial Average down since last Tuesday EST by 760.03 points or 2.75% to ????26,925.05, the STOXX 600 down 8.09 points or 2.27% to 347.86 and the Shanghai Composite index up 14.92 points or 0.46% to 3,266.80.
Gold on 1,891.90. US 10-year Treasury Bonds on 0.857 and oil on 36.68. Cryptos Bitcoin up 314 points since last Tuesday or 2.39% to 13,427.
ASX 200 up 15.40 points or 0.25% since last Tuesday to 6,066.40. The Aussie dollar on 70.43US cents.
Eco Market Spot Prices
Sources:?RenewEconomy, demandmanager,? Reuters, SMH, Market Watch, Crikey