Sustt: Problem molecules. Capturing carbon. Assisted living. Watering holes.

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PROBLEM MOLECULES

We need to think about more than just CO2???

by Marc Height (Head of Sustainability)

What’s happening??Making sharp reductions in all greenhouse gases immediately is essential if the world is to effectively tackle global warming, according to a study by US scientists. The researchers argued that cutting methane and other “short-lived climate pollutants” (SLCPs) including soot would decrease near-term warming and give the planet “a fighting chance” of avoiding climate catastrophe. (The Guardian,?PNAS)

Why does this matter??When thinking about climate change, it’s easy to get stuck in the CO2 lens. And for good reason – it’s?responsible?for around two-thirds of human-caused warming over long timescales. Its concentration in the atmosphere is also?way above?where it has ever been, as far back as we can record it.

However, CO2 isn’t the whole picture, and to successfully mitigate climate change means thinking about other pollutants. We can’t keep temperature rises to 1.5C – the Paris Agreement’s preferred goal – by just considering CO2 alone. SLCPs like nitrous oxide, hydroflurocarbons, ground-level ozone and soot will also need to be addressed.

The latter is particularly important, as it has?pronounced effects?in the Arctic where it can settle on ice and snow and increase rates of melting. This can then have knock-on effects for the rest of the climate system.

A methane mystery –?There’s another carbon-related molecule the?US study?is quite clear about the importance of tackling – methane. This extremely potent greenhouse gas stays in the atmosphere for a shorter period than CO2 but causes 80 times more warming over a 20-year period. The latest Intergovernmental Panel on Climate Change report?says?methane emissions need to decline 34% by 2030 if we are to limit warming to 1.5C.

There’s a problem though – methane emissions are?currently rising?by record levels. Even more worryingly, no-one?quite knows?exactly where they are coming from.

One thing is certain: leaks from oil and gas infrastructure are definitely underestimated, as a?number?of?studies?clearly highlight. Some facilities have been leaking significant amounts into the atmosphere?for decades. The gas could even be escaping into the atmosphere from?your unlit stove.

Cost-effective action –?Thankfully, the International Energy Agency, which says methane emissions from the energy sector are?at least 70%?above official reports, says there’s no reason not to address the problem as it can be tackled at?no net cost. If leaks are identified and fixed, which is increasingly viable thanks to satellite-based detection?technology, this means more efficient operations and more gas to sell – which could even result in a net profit with gas prices at today’s levels.

A further thought –?The energy sector is a significant methane source, responsible for around 40% of human-caused methane emissions, but agriculture is also a significant methane emitter. Now, similar to oil and gas facilities, emission fingerprints from specific agricultural locations can be detected remotely.

GHGSat has recently?detected?cattle emissions from space for the first time. This opens up the possibility of farmers’ pledges to reduce methane emissions being remotely audited, and the efficacy of changing ruminant diets – for example by feeding them?seaweed?– effectively monitored.

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CAPTURING CARBON

Using the sea to fight climate change

by Marc Height (Head of Sustainability)

What’s happening??The Bahamas aims to begin trading in blue carbon credits before the end of 2022, having valued its ocean-based sequestration assets at over $300m. The move comes amid booming demand for carbon credits from corporations and governments seeking to offset their emissions, with BloombergNEF estimating the carbon credit market could be worth more than $500bn by 2050. The Bahamas will rely on coastal carbon sinks including seagrass and mangrove forests, which can reportedly sequester ten times as much CO2 as terrestrial forests, becoming one of the first countries to do so and encouraging fellow Caribbean nations to follow its lead.?(Global Carbon Fund)?

We need carbon removal technologies and solutions, but, as we've previously pointed out, we'd be foolhardy to rely on them. ?????Read more on the Sustt blog.??

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ASSISTED LIVING

How can we overcome barriers to assistive technologies?

by Nicola Watts (Health Care Specialist)

What's happening??Over 2.5 billion people worldwide need at least one assistive device to help them live more independent and productive lives – more than double previous estimates – according to a World Health Organization (WHO) and UNICEF report. It highlights vast disparities in access to devices such as spectacles, wheelchairs, hearing aids, memory aids, and prostheses, ranging from under 3% in low-income countries to 90% in wealthier ones. High cost, lack of awareness, and poor product quality and availability were cited as common barriers to access. Tedros Adhanom Ghebreyesus, WHO director-general, said the inequality must be addressed. (Health Policy Watch)

Why does this matter??The authors stress that an ageing population and a rise in non-communicable diseases such as heart attack and stroke – a major cause of disability – will see the number of people relying on these devices swell to 3.5 billion by 2050.

Most of the 330,000 people from 35 countries surveyed for the?report?said they had to pay for such technologies themselves. For those on lower incomes, this raises the risk of poverty and dependency, thus lowering quality of life and wellbeing.

The requirement for assistive devices has implications for both young and old members of the global population. The scale of need also suggests it's time to remove some of the stigma associated with utilising these devices. ?????Read more on the Sustt blog.?

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WATERING HOLES

Water-related risks need our attention

by Mubaasil Hassan (Sustainable Finance Specialist)

What’s happening??A Planet Tracker and CDP report has said financial companies face losses of more than $225bn because of water-related risks and that one-third of them are not taking remedial action. The report follows UN warnings that if water production and use remain unchanged, supply will fall by 40% by 2030 and that risks including floods, droughts and water pollution will become an increasingly serious corporate issue. Planet Tracker and CDP studied more than 1,000 companies, of which 69% said water security risks threaten a “substantive” impact with 33% admitting to not assessing their water risk exposure. (Reuters)

Why does this matter??The World Bank?expects?that increasing scarcity of high-quality water supply could cost up to 6% of GDP by 2050. With financial institutions continuing to allocate capital to the?activities most exposed to this potential future water crisis, this could pose a significant threat to financial stability. Despite this, CDP?found?that 33% of listed financial institutions were not measuring the exposure of their activities to water risks.

What risks does water pose??According to the?CDP report, a mismatch between supply and demand means that a stable supply of freshwater can no longer be guaranteed. This could result in assets becoming stranded in water-stressed regions if assumptions made about future water availability by firms are inaccurate.

Unless investor attitudes to water change, the situation is likely to worsen. Research?projects?that business-as-usual levels of water productivity and economic growth will put 45% of global GDP at risk by 2050 due to water stress.

The CDP report?emphasises?the need for financial institutions develop an engagement strategy that communicates their commitment to advancing water security. It added one of the most effective approaches to engagement with portfolio companies will be encouraging increased water-related transparency and disclosure. ?????Read more on the Sustt blog.