For Tuesday 18 August 2020 provided by Ecoprofit.com.au (#letsfindsolutions)
News for green investors and organisations, stock watch & grant opportunities
Greenland Ice – An Irreversible Tipping Point?
Greenland’s ice sheet may have hit a tipping point that sets it on an irreversible path to completely disappearing. Snowfall that normally replenishes Greenland’s glaciers each year can no longer keep up with the pace of ice melt, according to researchers at Ohio State University.
That means that the Greenland ice sheet – the world’s second-largest ice body – would continue to lose ice even if global temperatures stop rising. In their?study, published last week in the journal?Nature, the scientists reviewed 40 years of monthly satellite data from more than 200 large glaciers that are draining into the ocean across Greenland.
“What we’ve found is that the ice that’s discharging into the ocean is far surpassing the snow that’s accumulating on the surface of the ice sheet,” Michalea King, the study’s lead author and researcher at Ohio State University’s Byrd Polar and Climate Research Center, said in a?press release.
Complete melting of the Greenland ice sheet could raise sea levels 7 metres by the year 3000. If that happens, the ocean would?swallow coastal cities?across the globe.
Greenland’s ice is already the world’s largest single contributor to sea-level rise. In just the next 80 years, its current melt rate would add another 6.9 cm to global sea levels, according to a?study?published in December 2020.
“Glacier retreat has knocked the dynamics of the whole ice sheet into a constant state of loss,” Ian Howat, a glaciologist and co-author on the paper, said in the release.
Rising global temperatures and certain human activities can bring about tipping points in other parts of the world, too. In the Arctic, ice melt is exposing permafrost – frozen soil that releases powerful greenhouse gases when it thaws. If warming thaws enough permafrost, the gases released will trap heat faster than humans’ fossil-fuel emissions.
In the Amazon rainforest, humans have been cutting and burning trees for years, allowing moisture to escape the ecosystem. Enough deforestation could trigger?a process called dieback in which the rainforest would dry up, burn, and become a savanna-like landscape,?releasing up to 140 billion tons of carbon?into the atmosphere. Last year, leading rainforest scientists?warned that the Amazon is “teetering on the edge” of that threshold.
Still, scientists say that switching to less carbon-intensive forms of energy, like solar power, and reducing unsustainable logging and mining can help us avoid those disasters.
Even for the Greenland ice sheet, the future holds more tipping points – degrees of collapse that will accelerate the glaciers’ melt even more. Limiting global warming could delay those tipping points and give the world more time to prepare.
Grants/Subsidies/Funding ? Energy Efficient Communities Program – Business Stream – High Energy Using Business Grants
The objectives of the grant opportunity are to support high energy using businesses (with a net consumption of more than 0.05 PJ energy per year (that is 50,000 gigajoules per year), assessed across all the activities conducted by the business and across all fuel types) to:
- Replace existing equipment with higher efficiency equipment
- Install or replace a component/s to help an existing system run more efficiently
- Carry out energy audits
- Carry out monitoring of energy usage and emissions.
There is a total of $16.7 million available for this grant opportunity over two years (2020-21 to 2021-22). The grant amount will be up to 50 per cent of eligible project costs. The minimum grant amount is $10,000. The maximum grant amount is $25,000.
Documentation for the Energy Efficient Communities Program – Business Stream – High Energy Using Business Grants program, including program guidelines and frequently asked questions, is available on the?GrantConnect website.
CTI August specials 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 August, CTI is offering a 15% discount. 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 ? Bulk purchases
Avoid products that are packaged for single use (i.e., drinks, school lunches, candy, cat and dog food, salad mixings, etc.). Instead, buy in bulk and transfer the products to your own reusable containers. Many health food stores have bulk bins where they sell everything from grains to cereal to cleaning products.
Share watch ? Lynas Corp update (LYC:ASX)
Lynas is raising approximately A$425m through a fully underwritten AUD$211.6m institutional placement and AUD$213.7m pro rata accelerated non-renounceable entitlement offer.
It intends to use the proceeds from the equity raising to fund the Lynas 2025 foundation projects expected to be delivered in 2023, including:
- Planned Kalgoorlie Rare Earths Processing Facility to produce mixed Rare Earths carbonate for shipment to the Lynas Malaysia Plant
- Associated upgrades at the Lynas Malaysia Plant
- Any additional proceeds will be used for general corporate and working capital purposes
The Lynas business is transforming to grow with its markets and deliver a larger, more diverse business by 2025. Major Projects deliverable in 2023 are steps towards the Lynas 2025 vision and will provide foundation capability for further growth.
Lynas notes that operating cashflow may be affected by the uncertain global economy as a result of COVID-19 effects. The equity raise is a proactive capital management decision to enable progress to continue on required timelines. Lynas notes its strengthened balance sheet with pro-forma3 net cash of A$318m (as at 30 June 2020)
The Australian and Western Australian governments are strongly supporting the development of Australian based Rare Earths processing capability.
The graph shows the company?s trading performance over the last 5 years.
The VIX fear gauge down by 0.70 of a point since last Friday EST to 21.35.
The Dow Jones Industrial Average down since last Friday EST by 57.00 points or 0.18% to 27,884.02, the STOXX 600 up 1.69 points or 0.28% to 369.26 and the Shanghai Composite index down 10.90 points or 0.32% to 3,349.20.
Gold on 2,011.20. US 10-year Treasury Bonds on 0.671 and oil on 42.60. Cryptos Bitcoin up 552 points since last Friday or 4.71% to 12,269.
ASX 200 down 2.80 points or 0.05% since last Friday to 6,123.40. The Aussie dollar on 72.78US cents.
Eco Market Spot Prices
Sources:?RenewEconomy, demandmanager,? Reuters, SMH, Market Watch, Forbes