Sustt: Food waste, expensive Easter, absorber to emitter, nature unrestored, ski resorts and snow loss
Stat of the week ??
The impact of food waste has been laid bare in an eye-opening report from the UN Environment Programme (UNEP), revealing not only a $1tn drain on the global economy but also its disruptive impact on the global fight against climate change. In 2022 alone, the world wasted 1.05 billion tonnes of food, equating to nearly 20% of all food available to consumers. Food waste and loss generates 8-10% of global greenhouse gas emissions - an emissions figure roughly five times higher than the aviation sector. It is a global, society-wide issue spanning from high-income to lower-middle-income countries and from household kitchens to retail aisles, necessitating urgent collaborative action and improved data tracking practices in many regions. UNEP calls for public-private partnerships and financing initiatives to halve food waste by 2030. (edie)
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Bite-sized insights
What else we saw this week ??
?? ?An expensive Easter? – Just ahead of the Easter weekend, cocoa prices soared to a historic high, with May delivery futures reaching $10,030 per tonne, the first time the commodity surpassed the $10,000 threshold. This surge, up nearly 138% for the year, pushed cocoa's price per tonne higher than copper and stems from significant supply challenges, notably in West Africa, which accounts for around 70% of global cocoa production. The region, especially the Ivory Coast and Ghana, has faced adverse weather and disease outbreaks, impacting farming conditions and the transportation of beans to ports. Consequently, many chocolate makers like Mondelez and Nestlé face earnings pressures, highlighting the broader impact of the cocoa market's volatility on the chocolate industry. (CNBC)
???? Absorber to emitter – New research reveals Australia's soil may become a net emitter of carbon dioxide due to rising temperatures, threatening to increase national emissions by up to 14% by 2045. The study, published in NPJ Climate and Atmospheric Science, utilised simulations across three societal scenarios to predict changes in soil carbon levels through 2100. While sustainable practices could mitigate some emissions, the loss in carbon-storing capacity, especially in coastal and rangeland areas that are more sensitive to temperature increases, poses a significant threat. Australia's soil holds an estimated 28 metric gigatonnes of carbon, highlighting the urgent need for improved soil management and conservation strategies to ensure this vast carbon reserve is not released into Earth's atmosphere. (Phys.org)??
???Nature unrestored – The EU's ambitious Nature Restoration plan to protect biodiversity and combat climate change within its 27 member states has been indefinitely delayed. This postponement, occurring just months before June's European Parliament election, marks a significant setback potentially undermining the EU's leadership in global environmental initiatives. Despite previous optimism for approval, a shift in support from Hungary amid recent farming protests highlighted the tension between environmental goals and agricultural interests. Separately, an EU anti-deforestation law may face revisions after objections were raised by several member states, who cited it could harm European farmers. (Associated Press)
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In-depth insight ??
Snow loss
13% of ski resorts could lose all natural snow cover by 2100: study
?? Written by Claire Pickard : I have never been skiing, but this story really caught my attention. Under some of the scenarios outlined in this new report, a whole industry – and an entire leisure pursuit – could be put at risk due to climate change in the not-too-distant future. The threat to the skiing sector emphasises in very concrete terms the way that global warming could be changing the way we live our lives much more quickly than we realise.
What’s happening? Snow cover in the Australian Alps could decrease by 78% by the end of the century, according to research from Germany’s University of Bayreuth. This is much faster than the rate of decline in the six other major skiing regions assessed. The researchers found that 13% of global ski areas could lose all their natural snow cover under a future high emissions scenario. The loss of snow poses an economic threat to ski resorts. However, the researchers argue the adoption of mitigation strategies such as contouring, landscaping, and new resort construction could also pose a risk to mountain biodiversity. (The Guardian)?
Why does this matter? The skiing industry contributes billions to the global economy. In the European Alps, the world’s most popular ski destination, the sector is worth $30bn. In the US, this figure stands at $58bn, while in Australia the industry contributes $2.4bn to the economy. The impacts of global warming on skiing are already being felt. A study published in March of this year found that the US ski industry had lost over $5bn over the past two decades due to rising temperatures. The decline in snow cover forecast in the new report therefore poses a significant financial risk to the sector.?
Worldwide decline – The study analysed seven key mountain skiing regions – the European Alps, Andes, Appalachian Mountains, Australian Alps, Japanese Alps, Southern Alps, and Rocky Mountains. Each location was assessed in relation to “low” “high” and “very high” emissions scenarios.
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