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Tag: environment

Samsung’s financial affiliates declare end to coal investments

Posted on by dishanth
Samsung’s financial affiliates declare end to coal investments

Samsung’s financial affiliates have declared an end to new coal-related investments amid growing criticism from environmental groups.

In a joint statement released Thursday, the affiliates said that they would phase out coal-related investments. This is the first time for a collective statement to be issued by the chaebol’s financial units indicating an end to their investments in coal-related projects

Samsung has two insurance units ― Samsung Life and Samsung Fire & Marine Insurance ― which had been singled out by environmental groups as having invested the largest amount in local coal-fired power plants. Other financial affiliates are Samsung’s brokerage, asset management unit and card firm.

Samsung Life, which had decided to stop such investments in 2018, said the affiliates will draw up ESG management strategies, which will be finalized at a board meeting in December.

The insurance units stated that they will not invest in bonds issued for the construction of coal-fired power plants. The non-life insurance affiliate specified that it will not underwrite risks in the construction of such power plants.

Samsung’s financial units stated they will expand their environmentally-friendly investments such as in renewable energy and electric cars.

The collective move came as environmental organizations both here and abroad have been pressuring Samsung, vowing to boycott Samsung Electronics’ products.

As Samsung group has no control tower, each of the affiliates were responsible for coming up with their own ESG policies to better protect the environment, carry out social responsibilities and improve corporate governance.

In a related move, Samsung Electronics stated last month, when it released its third quarter earnings, that it would expand ESG investments to boost sustainable management.

The group’s construction arm Samsung C&T stated it would abandon coal investments and pledged to become a leader in ESG management.

Environmental groups welcomed the latest pledge, but noted it is important how an action plan will be drawn up, and what Samsung will do with other units’ coal-related investments.

“While the policy is a major step forward, the devil is in the details. What remains to be seen is how they implement the decision and close loopholes, namely with ongoing projects,” Korea Federation for Environmental Movements coordinator Lee Ji-eon said.

The insurance units have provided financing for a coal-fired power plant in Samcheok, Gangwon Province, which is under construction; while Samsung C&T is building a 3.78 trillion won power plant in Gangneung, also in Gangwon.

Solutions for our Climate’s Korea chapter head Kim Joo-jin said, “Samsung’s contribution to the climate crisis is still large, with many of Samsung’s affiliate are still involved in the financing of operating coal-fired power plants. Samsung Heavy Industries is a leader in the global oil and gas industry as well.”

 

 

By: Kim Bo-eun

Source: Korea Times

Chipotle Launches Tool to Tell You the ‘Foodprint’ of Each Ingredient

Posted on by dishanth
Chipotle Launches Tool to Tell You the ‘Foodprint’ of Each Ingredient

How does your burrito impact the environment? If you ordered it from Chipotle, there is now a way to find out.

The chain on Monday launched a first-of-its kind sustainability tool called the Real Foodprint, which allows customers to see how each of its 53 intentionally sourced ingredients compares to the industry average when it comes to key environmental metrics like carbon emissions and water use.

“Just by eating real, responsibly raised food, you can do a little something to help cultivate a better world,” Bill Nye of Science Guy fame said in a video promoting the feature.

 

 

The Real Foodprint works like this, as Retail Leader explained. When you place an order on the Chipotle app or on the website, the tracker will show you the environmental impact of each ingredient you select compared to the conventional equivalent. The ingredients are assessed according to five metrics:

  1. Less carbon emitted (measured in grams)
  2. Water saved (in gallons)
  3. Improved soil health (in square feet)
  4. Organic land supported (in square feet)
  5. Antibiotics avoided (in milligrams)

So, for example, Nye’s chicken bowl emits 0.8 fewer grams of carbon dioxide, saves 0.4 gallons of water, supports 1.7 square feet of improved soil health, supports 0.9 square feet of organic land and avoids 42.3 milligrams of antibiotics compared to a similar order made with conventional ingredients.

 

 

The data points are provided by HowGood, an independent research company that draws on more than 450 peer-reviewed and scientific studies to compare Chipotle’s ingredients to conventional options, the website explained. Chipotle is the first restaurant to partner with HowGood, the company said in a press release. The data points will be updated on a regular basis, so customers can see if Chipotle’s environmental impact lessens or increases over time, Fast Company reported.

“Beyond asking people to make the right choice for the climate based on a carbon label, we are demonstrating the impact of our sourcing practices through data computed based on the ingredients in our guests’ orders,” Chipotle’s head of sustainability Caitlin Leibert said in the press release. “While our guests can make good choices for the planet by simply eating at Chipotle, the radical transparency provided by Real Foodprint also holds us accountable to improve our practices and source more sustainably over time. It is the combination of transparency for our guests and Chipotle’s commitment to higher standards that make Real Foodprint so impactful.”

Other restaurant brands have taken steps to provide environmental information to their customers, Fast Company pointed out. Meat alternative brand Quorn prints the carbon footprint of its products next to the nutrition label. And, two weeks ago, Panera started pointing out the “Cool Food Meals” on its menu, meals that have a lower carbon footprint. But Chipotle’s Foodprint is the most specific and detailed Fast Company has encountered, writer Mark Wilson pointed out.

“You can literally measure the impact of adding pinto beans or a scoop of pico de gallo,” Wilson wrote. “(Btw, order those beans! They capture carbon and fertilize soil with nitrogen naturally!)”

One downside to the Chipotle tool is the fact that it compares its own ingredients specifically to the industry standard, Wilson noted. This means that it tells you that choosing Chipotle-sourced steak saves 150 milligrams of antibiotics, while choosing tofu saves none, because conventional tofu requires none. The impact of the beef is compared to the industry standard for beef, but does not account for the huge environmental difference between choosing meat and choosing vegetarian options.

Chipotle chief marketing officer Chris Brandt said this was done to avoid passing a value judgment on individual foods.

“There’s a lot of other metrics that say meat is bad, vegetarian is good. If you wanna live your life that way that’s great … everything is relevant to an industry average rather than a value judgment as to whether you eat meat or not,” Brandt said.

 

 

By Olivia Rosane

Source: Eco Watch

I Am Greta: The coming of age movie wrapped up in a super-hero flick

Posted on by dishanth
I Am Greta: The coming of age movie wrapped up in a super-hero flick

There are many extraordinary things about the new documentary I Am Greta.

The first is that the film happened at all. Its director Nathan Grossman had never made a documentary feature before.

The former film student was curious when he heard, in 2018, that 15-year-old Swedish girl Greta Thunberg had decided to bunk off school to sit alone outside the country’s parliament in Stockholm as part of what she was calling a “climate strike”.

He started filming a few days later. At first he shot in a low-quality mode on his camera to save space on memory cards, thinking he would be lucky if her story made a short feature for the local news.

But, within weeks, children around the world had started their own climate strikes. Arnold Schwarzenegger was retweeting Thunberg’s posts and Grossman had switched to full high definition.

He continued to film Thunberg and her father at every twist and turn of the adventure that unfolded over the next year.

 

Greta Thunberg’s story tells of how a troubled and lonely child discovers her hidden powers. DOGWOOF FILMS

 

And what an adventure. Thunberg herself said it could be a movie but it would be a very surreal one “because the plot would be so unlikely”.

Just being along for the ride is exciting enough, but I Am Greta does much more than that.

What Grossman has made is a coming of age movie wrapped up in a super-hero flick. This is the story of how a troubled and lonely child discovers her hidden powers and uses them to change the course of the world.

 

The secret of Thunberg’s charisma

The whole thing is just so unlikely. It turns out that this small, rather dour girl with pigtails has a preternatural charisma.

As we unravel the paradox of why that is, we begin to understand what is so special about Thunberg.

Most people don’t realise how unforgiving documentaries are on their subjects: If you pretend to be something you are not, you will be found out.

The only way to be “good” at films like this is simply to be yourself.

Watching the film, you realise Thunberg is so fascinating because she is utterly authentic. She isn’t doing this for appearances, she isn’t doing it because she wants fame or attention, she is doing it because she has no choice.

She feels compelled to do something – anything – to try to get the world to take climate change seriously.

 

Why she can’t look away

Early on in the film, she tries to explain why. “Once the climate crisis has got your attention you can’t look away,” she says.

“Once you understand the magnitude of the problem, you can’t erase it.”

She doesn’t realise that this is the diametric opposite of how most other people feel: We know it’s happening but do everything we can to look away.

 

Grossman followed Thunberg for months to capture the footage in the documentary. DOGWOOF FILMS / LEV RADIN

 

The compulsion to campaign

Thunberg gives us her take on events in diary excerpts. We learn she has no doubt that Asperger’s Syndrome is a central part of what gives her such “laser-focus”.

“I have it, I wouldn’t say I suffer from it,” she corrects a reporter at one point. And the film shows how campaigning has helped lift Thunberg out of profound depression.

 

Greta Thunberg has continued with her campaign this year. GETTY IMAGES

 

As her influence begins to grow, there is a wonderful sequence on a train where she is filmed writing her diary.

“It feels almost indescribable that something is finally happening,” she writes and breaks into a contented smile. “There are so many who are interested in the same things as I am.”

She talks about how lonely she was at school and the eating disorders she battles. At one point her father mentions how her “selective mutism” and “compulsions” have vanished.

There’s a touching scene where her mother chokes back tears as she describes the progress Thunberg has made. Yet you can’t help thinking her relentless compulsion to campaign can be a curse.

Towards the end of the film, we see her crouched in the cabin of the racing yacht taking her to New York. Huge waves crash past the windows behind her. Thunberg is in tears as she records her diary on a phone. She is missing her dogs, her home and her “routines”.

 

‘How dare you’

The climax comes with Thunberg’s “how dare you” speech, where she scolds world leaders for their lack of action.

“The eyes of all future generations are upon you,” she warns at the UN Climate Action summit in New York, “and if you fail us, I say we will never forgive you.”

 

GETTY IMAGES

 

It is an address that echoed around the world.

She later joins tens of thousands of protestors on the streets of New York – and millions more join climate strikes around the world.

It is a triumph for Thunberg and her campaigning, and a landmark in progress for action on climate change.

But you can’t help but feel anxious for her future. We have seen the meaning and purpose she has found in campaigning and wonder how she will fare now she is back at school.

The final scenes of the film show Thunberg with her beloved pony.

“I sometimes think it might be good if everyone had a little bit of Asperger’s,” she says as she grooms him, “…at least when it comes to the climate.”

I Am Greta is released in the UK and Ireland on 16 October 2020. Special screenings followed by a Q&A will take place on Sunday, 18 October.

 

 

Source: BBC

Australian outback cattle station to house world’s largest solar farm, powering Singapore

Posted on by dishanth
Australian outback cattle station to house world’s largest solar farm, powering Singapore

A cattle station halfway between Alice Springs and Darwin is set to house the world’s largest solar farm, with energy generated from the project to ultimately power Singapore.

Newcastle Waters, where casino mogul James Packer worked as a jackaroo for a year when his father, Kerry, owned the 10,000 sq km property, has been earmarked for the $20bn solar farm, according to the company responsible for the project, Sun Cable.

The 10-gigawatt solar farm, which will be visible from space if built, was granted major project status from the Morrison government in July and has attracted billionaire investors including Andrew Forrest and Mike Cannon-Brookes.

Sun Cable’s chief executive, David Griffin, told Guardian Australia the site would take up about 12,000 hectares, and that a referral for the project has been submitted to the Northern Territory’s Environmental Protection Authority – the first stage of a lengthy approvals process that is expected to allow construction to begin in late 2023, energy production by 2026 and export by 2027.

Speaking about the reasons for proposing the Newcastle Waters site, Griffin said its location was “a meeting point of a few key criteria”.

“It’s on the Adelaide to Darwin rail corridor, which is brilliant for our logistics given the enormous amount of material we’ll have to transport to the site,” he said. It was also within 30km of the Stuart highway, the main highway running through the sparsely populated Northern Territory.

“It’s a bit of a balancing act too, because it’s far south enough to get away from the main patch affected by the wet season, so it’s a steady solar resource throughout the year,” he said. “There’s plenty of sun and not many clouds.”

Griffin also said the site was not so far south that it made the costs of transmitting the electricity to Darwin too high, and that the existing land was “really ideal for construction of a solar farm as it’s extremely flat”.

Sun Cable has entered into an agreement with the current owners of Newcastle Waters, Consolidated Pastoral Company, to use the land. However, Griffin said he could not reveal the financial details of the deal.

Overhead transmission lines will send the electricity generated by Sun Cable to Darwin and feed into the state’s power grid, but Griffin said two-thirds of the power would be exported to Singapore by high-voltage direct current undersea cables.

There will be at least two cables, each with a diameter slightly smaller than a soccer ball, with Sun Cable able to provide about a fifth of Singapore’s electricity needs as the country looks to move away from its increasingly expensive gas-fired power system.

 

 

Griffin has also said the solar farm could supply power to remote communities in the Northern Territory that currently rely on expensive diesel generators for electricity.

Sun Cable expects the project will generate 1,500 direct jobs and 10,000 indirect jobs during construction, and about 350 permanent jobs once in operation.

Griffin said Sun Cable was working on a training and employment opportunities plan so part of the workforce could be sourced from nearby Indigenous communities, and that supplies would be produced by local businesses.

Exporting solar energy has been flagged as a way Australia can expand its energy production while significantly reducing global emissions. Australia is responsible for about 1.4% of greenhouse gas emissions, which increases by 5% if fossil fuel exports are counted.

 

 

By 

Source: The Guardian

Bengaluru Startup is Making 10,000 Straws a Day, All From Fallen Coconut Leaves

Posted on by dishanth
Bengaluru Startup is Making 10,000 Straws a Day, All From Fallen Coconut Leaves

To reduce the negative impact on the environment, many businesses and individuals have switched to sustainable products. One such important switch has been using alternatives to plastic straws. Many restaurants across the country are now serving beverages with straws made from materials like paper, bamboo, wheat stubble, and metal.

Evlogia Eco Care, a Bengaluru-based startup founded in 2018, is one such organization making eco-friendly straws named ‘Kokos Leafy Straws’, made using dried coconut leaves.

“While the midrib that holds the coconut leaves are used to make brooms, the leaves are discarded as agricultural waste at the farms. The straws are made using those discarded leaves after they undergo an intense cleaning process,” says Manigandan Kumarappan, the founder of the startup.

 

How is the straw made?

The dried coconut leaves are procured from four farms located in Tamil Nadu – Palani, Dindigul, Madurai, and Ottanchathiram.

Here, women are employed in farms run by NGO-supported Self Help Groups. Each farm has a varying number of women who collect these leaves, wash them under running water, and dry them under the sun for a few days.

“The leaves are then sent across to the production unit in Bengaluru which is also the head office. Here, it undergoes a pressure-heating process which is a deep clean method. Using a machine developed in-house, the leaves are washed in 120 degrees celsius steam which helps to make them soft and roll them easily into straws.”

At the production unit, Manigandan has currently employed 15 women from the local neighborhood in Kanakapura who roll the leaves into straws.

 

Women making the straws at the Bangalore production unit.

 

“With the help of three in-house employees, we made a rolling machine which is like a sewing machine that helps to roll the leaves into straws. The device is powered manually by applying pressure from the feet. This helps to roll the leaves by maintaining the desired diameter of 3 millimeters,” he says.

Finally, using a cutting machine the straws are cut into a standard size of 8.25 inches. But, Manigandan says, if a customer places a bulk order, the size can be adjusted according to their requirement. The straw can be made in a size ranging from 4 inches to 12 inches. Based on the size the price varies from Rs.1.5 to Rs 3.

From preparing the raw material to packaging the final product, the work is entirely done by women. Manigandan claims the product can be kept in hot beverages for half an hour and cold beverages for up to 6 hours.

 

The inspiration behind the product

The founder, Manigandan has previously worked with several Multinational Companies. In 2016, he decided to leave the corporate life and become an entrepreneur. On that note, he started Tenco – a company that sells half-trimmed coconuts over e-commerce platforms.

“The product was delivered to the customer along with a plastic straw. But, some customers gave us feedback about the same and requested that we switch to a sustainable alternative. This made us think about what we could do, and soon we stumbled upon the idea of using coconut leaves which are the least used product from the tree,” says Mani adding that the leaves are sturdy, and can even pierce through tetra packs without bending.

Nakul Mysore Jayaram, the owner of World of Coffee Cafe in Chikmagalur has been using the product since September 2019. He says this straw is more versatile compared to paper straws which he used earlier to serve beverages.

“The coconut leaf straw is sturdy and does not get soggy like paper straws. Earlier customers used to complain about the paper straws and would request to replace it repeatedly or ask for a plastic one. But with the coconut leaf one we have had no complaints from the customers,” says Nakul.

 

About the startup

The company was founded in 2018 along with his wife Radha Manigandan. The duo raised seed investments supported by Hindustan Petroleum. In January 2019, the production of straws began with one employee which has now grown to 15 employees.

Earlier, the company was making 100 straws/ day, now, their capacity has increased to 10,000 in a day.

 

The founder Manigandan, co-founder Radha Manigandan, and the three engineers.

 

Manigandan says, “We had only a rolling machine to maintain the size of straws, but could not increase production capacity as the pressure-heating sterilization had to be done using a cooking grade pressure cooker. This could hold only a few leaves at a time, and the process took 50-60 minutes. Three months ago, we introduced the pressure-heating machine which was made in-house with the help of three engineers who are interns turned full-time employees. Though this machine takes the same time to sterilize the leaves, it can hold a larger capacity and help to produce 10,000 straws in one day.”

Currently, the straws are being distributed across Canada, UAE, Germany, USA, and a handful of restaurants in Bangalore. Apart from straws, the startup has also ventured into making air-tight food containers from Areca leaves.

If you wish to place an order for the straws, you can contact the startup through their website.

 

 

By 

Source: The Better India

Sri Lanka launches countrywide E-waste collection project

Posted on by dishanth
Sri Lanka launches countrywide E-waste collection project

Post offices around the country will collect E-waste starting from October 5 to October 11 to prevent harmful materials being released to the environment by recycling the discarded electronic devices.

Minister of Environment Mahinda Amaraweera told reporters yesterday that the programme will be launched under the theme “A country that breaths, Sri Lanka without E-waste,” to coincide with Postal Day.

E-waste will be collected from all 653 main post offices around the country starting from October 5 to October 11 from 8 am to 5 pm.

Amaraweera said that the Ministry has understood that the harm done by E-waste to the environment is higher than by other types of waste because there are no proper methods to effectively recycle this type of waste in Sri Lanka.

Amaraweera said E-waste poses the risk of releasing dangerous materials such as Lead, Mercury, Cadmium and Arsenic which are harmful to the environment.

Moreover, he said that there is a rapid increase of E-waste in the country in recent years as more and more people are using and disposing of electronic devices.

He added that in the case of mobile phones users discard their old phones as the latest model comes on the market.

“There are more mobile phones than people in the country. No one has an idea of what is happening to the discards,” he said

The Minister said that the government expects to recycle some of the E-waste materials such as Iron, Aluminium and plastic which could be recycled in the country, while other materials which cannot be dealt with in the country will be sent overseas.

The recycling process within the country will be given to institutions which are registered under the Central Environmental Authority (CEA) which will also supervise the process.

The items that will be collected at the main post offices are as follows:

TV, Cassettes and radio, fans, desktop and laptop computers, mobile phones and accessories, fixed telephones, fax machines, grinders, blenders, toners, rice cookers, printers, batteries, air conditioners, washing machines, CD and DVDs, DVD players, electric kettles, electric heaters, electric stoves, electronic sports items, electronic exercise machines, CFL machines, CRT monitors and other electronic devices.

The items which will not be collected are:
Refrigerators, tube lights, electronic devices which have been broken to parts or devices where internal parts are removed, devices covered in sand and mud, large scale E-waste from industries and shops.

 

 

By Imesh Ranasinghe

Source: Economy Next

 

Farmers and the environment to benefit from ground-breaking alliance that will increase Australia’s biodiversity in farming landscapes

Posted on by dishanth
Farmers and the environment to benefit from ground-breaking alliance that will increase Australia’s biodiversity in farming landscapes
Landcare Australia is proud to announce a three-year partnership with iconic Australian brand Country Road who have committed $600,000 over three years to support the conservation of Australian farming landscapes.
This unique partnership will come to life through biodiversity restoration projects across Australian farmlands, with support from the Australian cotton industry.
The initial project will be implemented by the Kahl family in the Namoi Valley, NSW—a region significantly affected by biodiversity loss and in need of restoration. Prominent third generation cotton farmers, the Kahl family will participate in the program by revegetating a river system that flows through their property. Benefits of the project will include increased habitat and shelter for native animals, reduced erosion along the river bank, improved water quality and enhanced biodiversity.
Research findings from ‘Management of Biodiversity in the Cotton Landscape: Iconic and Threatened Species’, a report developed by the Cotton Research and Development Corporation with support from the Australian Government’s National Landcare Program Smart Farming Partnership Initiative Round 1, have been used to identify regions and projects that best support environmental outcomes.
Landcare Australia will receive funding for the project as a result of Country Road contributing a minimum of $600,000 to the partnership over three years, via a corporate contribution and funds raised through the sale of its famous Verified Australian Cotton Heritage Sweats. The funding will provide Landcare Australia with the means to conduct multiple biodiversity projects in the region and invite more Australian farmers to participate in the program.
By purchasing a Country Road Verified Australian Cotton Heritage Sweat, customers can actively support farmers in regenerating Australian landscapes.
Country Road Managing Director, Elle Roseby, says “As an iconic Australian brand, Country Road has a role to play in protecting what matters and using our platform to benefit Australia’s natural landscapes. By partnering with such a renowned environmental organisation, we hope to support the incredible efforts of Australian farmers, whose life’s work depends on having an intimate understanding of changing environmental needs.
Landcare Australia shares Country Road’s deep appreciation for what makes our backyard so special. Their vision of ‘All Australians caring for the land and water that sustain us’ is one that resonates, more so than ever, with both Country Road the brand and our wider community.” said Elle.
Landcare Australia CEO, Dr Shane Norrish, says “Landcare Australia is very proud to launch this partnership with Country Road to develop projects focused on biodiversity conservation with cotton farmers. The projects will help to restore local ecosystems and contribute to the sustainable management and productivity of the landscape.”
“The partnership with Country Road is a powerful example of how Landcare Australia brings together organisations to work on projects that will have a meaningful impact for farmers, the environment and the local community. We are very pleased to be working with Country Road and the Australian cotton industry on biodiversity projects that will protect habitat for a range of native plants and animals, including threatened species.”
The Australian cotton industry has played a supporting role in this partnership by providing the findings of its research to inform priority areas for biodiversity restoration in cotton farming landscapes, identifying farmers to participate in the program and working with them to develop on-ground projects that deliver benefits to the natural environment.
“Protecting and improving biodiversity in cotton landscapes is a key focus for the industry. This partnership will accelerate these efforts, showcase the benefits of improving biodiversity to other cotton farmers and provide a lasting legacy for our farms, communities and the natural environment,” Cotton Australia CEO Adam Kay said.
The Landcare Australia partnership follows a number of recent milestones for Country Road, including scientifically verified Australian fibres, achieving 5 Star Green Star rated stores through the Green Building Council and the launch of Our World—an online platform dedicated to sharing the brand’s sustainability journey with the wider community.

Source: Eco Voice

 

 

$20 million ‘Reef Builder’ program set to recover near extinct marine ecosystem

Posted on by dishanth
$20 million ‘Reef Builder’ program set to recover near extinct marine ecosystem

Reef Builder, an exciting partnership between the Australian Government and The Nature Conservancy, is set to create up to 170 jobs and engage up to 120 local contractors by bringing a marine ecosystem back from the brink of extinction.

Targeting bushfire and COVID-19 affected coastal communities, the $20 million investment will expand The Nature Conservancy’s successful program to rebuild shellfish reefs around the Australian coastline.

Rebuilding the reefs will create local jobs, boost important fish stocks, improve water quality, protect coastlines from erosion, and establish new fishing and dive tourism hotspots.

Reefs spread over the seafloor, covering the area of a football stadium, will be constructed in at least 11 coastal communities – from south-east Queensland right around Australia’s southern coastline to Perth in Western Australia.

“Shellfish reefs once thrived in Australia’s bays and estuaries, but from the 1850s to the 1960s they were decimated by overharvesting, dredging and water pollution,” said Dr Chris Gillies, Oceans Program Director at The Nature Conservancy.

“Now less than 10 per cent of these shellfish reefs remain, making them one of Australia’s most endangered marine ecosystems.”

In the past six years, The Nature Conservancy has worked with community groups, philanthropic organisations, businesses, universities and government agencies to develop a program to rebuild shellfish reefs. Early projects across southern and eastern Australia have showed enormous social, economic and environmental benefits from restoring reefs.

“To rebuild the reefs, we lay down thousands of tonnes of locally-sourced limestone rubble and recycled shells to create a reef base. Then we release millions of baby oysters bred by oyster farmers and shellfish hatcheries,” Dr Gillies said.

“During reef building, a variety of jobs are created, ranging from barge operators, to truck drivers, to shellfish growers and divers. After construction, the reefs will provide public benefits such as cleaner water and more fish for everyone.”

Minister for the Environment Sussan Ley said the new shellfish reefs will have a positive impact on local communities and the economy, while also protecting biodiversity.

“By investing in our natural assets, we help coastal tourism and the recreational and commercial fishing industries bounce back from the impacts of COVID-19 and bushfire.”

The Nature Conservancy aims to rebuild 60 reefs across southern Australia. This is Australia’s largest marine restoration initiative. If achieved, it will make Australia the first nation in the world to recover a critically endangered marine ecosystem. Eight projects have been completed or are near completion so far.

Reef Builder will restore reefs in at least 11 sites chosen from the following locations:

  • Noosa River Estuary, QLD
  • Port Stephens, NSW
  • Botany Bay, NSW
  • Sapphire Coast, NSW
  • Gippsland Lakes, VIC
  • Port Phillip Bay, VIC
  • Derwent Estuary, TAS
  • Kangaroo Island, SA
  • Adelaide Metro Coast, SA
  • Onkaparinga, SA
  • Oyster Harbour, WA
  • Peel Harvey Estuary, WA
  • Swan-Canning Estuary, WA

More information

  • Learn more about the project here.
  • Learn more about shellfish reefs here.
  • High resolution photos and footage of the reefs are available to download here.

 

 

Source: Eco Voice

Proposed Indonesian coal power plant not financially viable, study finds

Posted on by dishanth
Proposed Indonesian coal power plant not financially viable, study finds

Green groups have long criticised the Jawa 9 & 10 coal power project over its devastating impacts on public health and the environment. Now, a study has revealed the project would also be unprofitable for its investors.

The 2,000-megawatt Jawa 9 & 10 coal-fired power project planned to be built near the Indonesian capital city Jakarta would result in significant losses for investors if it goes through, a new pre-feasibility study released on Thursday (18 June) has revealed.

The analysis conducted by Korea Development Institute (KDI), an autonomous policy-oriented research organisation, shows the present value of cash flows pumped into the power project would exceed that of inbound cash flows by US$43.58 million over the station’s lifetime.

Almost three-quarters of the project volume is financed through loans provided by lenders such as Singapore bank DBS, Siemens Bank, Korean public banks, as well as Malaysian and Indonesian banks, which include Maybank, CIMB, Bank Negara Indonesia, Exim Bank of Indonesia and Bank Mandiri, among others.

However, South Korean utility Korea Electric Power Corporation (Kepco) is the only foreign firm backing the project that will hold a share of ownership in the plant. It is poised to lose US$7.08 million in equity investments, according to the study, which was obtained by Seoul-based non-profit Solutions for our Climate.

Other equity investors associated with the venture include Jakarta-based power and petrochemical firm Barito Pacific and Indonesia Power, a subsidiary of Indonesia’s state utility Perusahaan Listrik Negara (PLN), which provides the land for the station.

Solutions for our Climate director Youn Sejong said while loan investors were less at risk because their investment would be paid off first, the fact that the project itself was valued negative should still be a wakeup call for the banks supporting it.

“Investors backing the project should pull out given the estimated unprofitability. Because the construction has not commenced, this is the best time to withdraw from the project with no sunk cost involved,” he told Eco-Business.

The project, which is to add two power plant units to the Suralaya coal-fired power station in Cilegon, a city in Indonesia’s Banten province, is expected to be in operation from 2024. The new plant units will use ultra-supercritical technology to enable higher efficiencies and lower emissions.

Besides the Jawa project, Kepco is planning to acquire a share in the planned Vung Ang 2 project in Ha Tinh province, Vietnam. Its stake in the venture would see the company build two 600-megawatt coal plants carrying a price tag of US$2.24 billion.

This is despite a recent estimate by the KDI that the net value of the Vung Ang 2 project stands at negative $158 million, with Kepco’s planned investment valued at negative $80 million.

Around the globe, pressure is mounting on governments and companies to drop coal, the world’s single-biggest contributor to man-made global warming, amid increasingly dire warnings of climate change.

Both the Jawa and the Vung Ang ventures have received heavy criticism from environmental activists and health experts in recent years, who have urged the corporations backing them to recognise the reputational, legal and environmental risks involved in the investments.

A 2019 report by environmental campaigners Greenpeace that modelled the health impacts of the Jawa project concluded the station would cause 4,700 premature deaths over its lifetime.

The new assessment comes as the Korean government puts together its Green New Deal package, a collection of sweeping policies geared towards ending South Korea’s contribution to climate change. The move was announced as part of the Liberal Party of Korea’s election manifesto earlier this year.

Following Moon Jae-in’s recent landslide victory, the government is expected to implement a carbon tax, foster investment in clean energy, and phase out domestic as well as overseas coal power financing.

Last month, the world’s top asset manager BlackRock, which owns shares in Kepco, raised concerns over several coal projects the utility firm is involved in.

According to the KDI, Kepco’s financial plan for the Jawa project takes an overly optimistic view of the expected amount of power sales and potential power transmission rates.

The firm has also likely underestimated engineering, procurement and construction (EPC) costs and not taken into account the financial difficulties currently facing Korean company Doosan Heavy Industries & Construction, the venture’s EPC contractor, amid the coronavirus crisis.

This increases the risk of budget overruns and project delays, although they would only indirectly affect Kepco as the EPC contractor would be required to bear the added costs.

The KDI pointed out the global transition to renewables indicated coal’s decline and could entail negative consequences for the Jawa power plant units.

At the same time, the ongoing coronavirus pandemic, which has yet to peak in Indonesia, may affect the project as it wreaks havoc on supply chains and project timelines while reducing electricity consumption. Youn said: “Planning of the Jawa 9 & 10 project was based on a gross overestimation of power demand growth.”

“Kepco should consider participating in the project only after closely examining the particular economic and market conditions in Indonesia,” reads the KDI’s report.

Despite the bleak profitability outlook, however, Kepco pursues its investment plans and seeks to obtain its board’s approval on the investment in the next board meeting scheduled for the end of June, according to Solutions for our Climate.

Earlier this month, the company announced through the media that the project passed the new pre-feasibility study, although the project score indicated that investments should be “considered with caution”, said the non-profit in a statement released on Thursday (18 June). In total, the firm looks to commit US$51 million to the Jawa venture.

In its statement, Solutions for our Climate said: “Kepco’s hasty decision to invest in the Jawa 9 & 10 project is likely to undermine the Korean government’s initiative towards a clean energy transition and sustainable economy.”

 

 

Source : https://www.eco-business.com/

By Tim Ha

Pakistan’s ‘green stimulus’ scheme is a win-win for the environment and the unemployed

Posted on by dishanth
Pakistan’s ‘green stimulus’ scheme is a win-win for the environment and the unemployed
  • Pakistan’s government are offering labourers, who are out of work due to the coronavirus lockdown, a chance to earn money by planting trees.
  • The project is part of Pakistan’s existing initiative to plant billions of trees to counter the effects of climate change.
  • Pakistan is badly affected by climate change, experiencing more than 150 extreme weather events between 1999 and 2018.

When construction worker Abdul Rahman lost his job to Pakistan’s coronavirus lockdown, his choices looked stark: resort to begging on the streets or let his family go hungry.

But the government has now given him a better option: Join tens of thousands of other out-of-work labourers in planting billions of trees across the country to deal with climate change threats.

Since Pakistan locked down starting March 23 to try to stem the spread of COVID-19, unemployed day labourers have been given new jobs as “jungle workers”, planting saplings as part of the country’s 10 Billion Tree Tsunami programme.

Such “green stimulus” efforts are an example of how funds that aim to help families and keep the economy running during pandemic shutdowns could also help nations prepare for the next big threat: climate change.

“Due to coronavirus, all the cities have shut down and there is no work. Most of us daily wagers couldn’t earn a living,” Rahman, a resident of Rawalpindi district in Punjab province, told the Thomson Reuters Foundation.

He now makes 500 rupees ($3) per day planting trees – about half of what he might have made on a good day, but enough to get by.

“All of us now have a way of earning daily wages again to feed our families,” he said.

The ambitious five-year tree-planting programme, which Prime Minister Imran Khan launched in 2018, aims to counter the rising temperatures, flooding, droughts and other extreme weather in the country that scientists link to climate change.

 

Workers can earn between 500 rupees and 800 rupees per day planting trees. Image: Shahid Rashid Awan, Project Director (Punjab)

 

Big Risks

The Global Climate Risk Index 2020, issued by think tank Germanwatch, ranked Pakistan fifth on a list of countries most affected by planetary heating over the last two decades – even though the South Asian nation contributes only a fraction of global greenhouse gases.

As the coronavirus pandemic struck Pakistan, the 10 Billion Trees campaign initially was halted as part of social distancing orders put in place to slow the spread of the virus, which has infected over 13,900 people in Pakistan, according to a Reuters tally.

But earlier this month, the prime minister granted an exemption to allow the forestry agency to restart the programme and create more than 63,600 jobs, according to government officials.

While much of the country is still observing stay-at-home orders, local police and district authorities have been told trucks carrying trees should be allowed to travel and villagers permitted to leave their homes to work with the project.

A recent assessment by the Pakistan Institute of Development Economics found that, due to the lockdown, up to 19 million people could be laid off, almost 70% of them in the Punjab province.

Abdul Muqeet Khan, chief conservator of forests for Rawalpindi district, told the Thomson Reuters Foundation that the planting project is in “full swing”.

Much of the work is happening on 15,000 acres (6,000 hectares) of land near the capital Islamabad, he said, as well as on other tracts of state-owned forest land around the country.

This year the programme is employing triple the number of workers it did in its first year, said Malik Amin Aslam, climate change advisor to the prime minister.

Many of the new jobs are being created in rural areas, he said, with a focus on hiring women and unemployed daily workers – mainly young people – who were migrating home from locked-down cities.

The work, which pays between 500 rupees and 800 rupees per day, includes setting up nurseries, planting saplings, and serving as forest protection guards or forest firefighters, he said.

All the workers have been told to wear masks and maintain the mandated two metres (six feet) of social distance between them, he added.

“This tragic crisis provided an opportunity and we grabbed it,” Aslam told the Thomson Reuters Foundation in a phone interview.

“Nurturing nature has come to the economic rescue of thousands of people.”

 

A recent assessment found that up to 19 million people could be laid off because of the coronavirus lockdown. Image: Shahid Rashid Awan, Project Director (Punjab)

 

Extended Help

According to Germanwatch, Pakistan reported more than 150 extreme weather events between 1999 and 2018 – from floods to heat waves – with total losses of $3.8 billion.

Environmentalists have long pushed reforestation as a way to help, saying forests help prevent flooding, stabilise rainfall, provide cool spaces, absorb heat-trapping carbon dioxide emissions and protect biodiversity.

According to green group WWF, Pakistan is a “forest poor” country where trees cover less than 6% of the total area.

Every year thousands of hectares of forest are destroyed, mainly as a result of unsustainable logging and clearing land for small-scale farming, the group said on its website.

With 7.5 billion rupees ($46 million) in funding, the 10 Billion Trees project aims to scale up the success of an earlier Billion Tree Tsunami in Pakistan’s Khyber Pakhtunkhwa province, where the government has been planting trees since 2014.

About 30 million indigenous saplings have been planted in Punjab since the start of the 10 Billion Tree Tsunami – including mulberry, acacia and moringa – said Shahid Rashid Awan, project director for Punjab province.

This year, the project hopes to hit 50 million trees, he said.

Planting season usually ends in May, Awan noted, but programme organisers plan to extend the initiative to the end of June, to keep workers employed for longer.

“We can absorb all the unemployed labourers and workers who have fled the cities and returned to their villages in the past few weeks. This is unskilled work,” he said.

 

Recovering with Dignity

Rab Nawaz, of WWF-Pakistan, said the government’s move is “a very good idea to create green jobs and get people employed.”

But he cautioned that planting trees is just one tool in the fight against climate change, saying there also needed to be investment in improving the ability of farmers and city dwellers to adapt to the effects of a hotter planet.

“The government should be very selective on how it spends money, and focus on resilience,” he urged.

For Aslam, the green jobs initiative is a way to help Pakistan’s workers recover from the coronavirus crisis “with dignity and avoiding handouts”.

“This has taught us the valuable lesson that when you invest in nature it not only pays you back, but also rescues you in a stressed economic situation,” he said.

 

 

Written by

Rina Saeed Khan, Writer, Thomson Reuters Foundation

This article is published in collaboration with Thomson Reuters Foundation trust.org.

The views expressed in this article are those of the author alone and not the World Economic Forum.