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Tag: 1-Minute Roundup

“Cheap energy is gone”: During a summit in Brussels, EU leaders agreed to boost preparations for further cuts in Russian gas. The leaders have urged the European Commission to propose a plan to secure energy supply at affordable prices.

Nowhere to hide: Procurement and other documents reviewed by The New York Times show that over 1.4 billion people living in China are constantly watched by technology.

Global food crisis worsens: Higher energy prices combined with constrained exports from Ukraine and Russia are threatening some of the world’s most vulnerable populations.

A G7 “Belt and Road Initiative”: US President Joe Biden announced that G7 partners and private capital will aim to invest $600 billion in the Partnership for Global Infrastructure and Investments, a counter to China’s Belt and Road Initiative.

Green aviation takes flight: The Swedish airline Braathens Regional Airlines performed the first test flight with 100% sustainable aviation fuel in both engines. This is a major milestone for the aviation industry, as it proves that the technology works and can be adapted by other players in the industry.

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Supply chains will never be the same: The Ukraine-Russia war could permanently reshape global supply chains. Fast Company explains why.

In fact, the war has created the greatest global food crisis since World War II: France’s ambassador to the UN, Nicolas de Rivière, said “Russia’s aggression against Ukraine is increasing the risk of famine around the world” and that populations in developing countries would be the first to be affected.

CO2 emissions peaked in 2021: Global CO2 emissions reached the highest level in history in 2021, as the world bounced back from the pandemic, according to an analysis by the IEA.

‘Mixed bag’ of data: The US Securities and Exchange Commission (SEC) has proposed a plan that would require all public companies to provide uniform, comparable disclosures on climate risk.

Data is the barrier: Most CFOs and executives in the US say that proper access to reliable data is the main hurdle in ESG reporting, a survey by Deloitte found.

US-EU energy cooperation: This month, the US and the European Commission announced a strategic energy cooperation to strength Europe’s energy security and reduce the continent’s dependence on Russia’s fossil fuels.

Ukraine, Moldova plug in to Europe: The electricity grids of Ukraine and Moldova have been successfully synchronized with the Continental European Grid. Engineers accomplished “a year’s work in two weeks,” according to Kadri Simson, the European Union’s Commissioner for Energy.

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Fuel ships with offshore wind: Shipping giant Maersk and other firms are developing technology to help the maritime industry move from diesel to wind power.

Energy costs spike: The UK energy regulator, Ofgem, announced that the energy price cap will rise by more than 50% from April.

Countries emit more methane than they report: According to a new report by IEA, methane emissions from the energy sector are about 70% higher than reported in official data.

Oil prices are fluctuating dramatically: As a result of escalating conflict between Russia and Ukraine, oil rose to nearly $100 a barrel on Tuesday, reaching its highest level since 2014.

Largest-ever US offshore wind auction: Companies are competing for nearly 500,000 acres, broken into six individual lease areas. The energy generated from the new leases can power up to two million homes. The auction has already attracted a record $1.5 billion in bids, marking a major step forward for offshore wind power in the United States.

Lack of top software companies threatens Europe’s economic competitiveness: Europe can take a lead by playing to its strengths: vertical B2B software, software platforms for digitizing small and medium-sized enterprises (SMEs), and horizontal platforms built on European R&D excellence.

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10% increase in gas prices: Europeans gas prices rise yet again after Germany rejects pipeline from Russia over concerns that Russia could use it as a political weapon.

Norway helps ease sky-high electricity prices: The government will subsidize electricity bills for households (not) feeling the heat.

Green development in China: The world’s top greenhouse gas emitter unveils a five-year plan to boost green development in its industrial sectors.

Storing energy in salt? A Danish startup has developed technology that can store energy in molten salt. It has raised $12 million from backers, including Denmark’s richest man.

Green Bitcoin transition: Bitcoin in its current form is not ESG compliant, but significant process has been made this year.

Wind power was Spain’s dominant source of electricity in 2021: Renewable sources cover 47% of the country’s consumption

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CO2 made into rock? A newly opened plant in Iceland sucks carbon dioxide from the air and turns it into rock. The direct air capture technology aims to capture emissions already in the atmosphere.

Big bucks toward clean tech: The EU commission will invest €1.5 billion in innovative cleantech projects for renewable energy, energy-intensive industries, energy storage, and carbon capture, use, and storage.

US infrastructure bill becomes law: US President Joe Biden last week signed a $1 trillion infrastructure bill. The bill includes $65 billion for power and electric grid upgrades, assessments of minerals and supply chains for clean energy technology, and carbon capture and clean energy demonstration projects.

Chip shortage leads to decoupling: The global chip shortage is making US manufacturers reevaluate their dependence on overseas supply.

Historic milestone: The US has kicked off construction of its “first commercial-scale offshore wind farm,” located off the coast of Massachusetts.

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Investor darlings? Industrial technology start-ups: Covid-era supply chain disruptions have helped push venture capitalists to invest in industrial tech start-ups that are offering solutions.

How bad can the energy crisis get? As low temperatures are approaching, gas consumption will naturally increase, it’s anticipated to get worse. The question is, how bad can the energy crisis get?

UK factories threatened by high power prices: UK natural gas prices have increased by roughly 425% so far this year. As winter is approaching, conditions are anticipated to get worse. Unless the government takes immediate action, many firms may have to close down or pass on rising costs to the consumer. Meanwhile to the north, electricity prices in parts of Norway have reached a record high.

Like the holidays, trend reporting season gets earlier every year: 16 tech leaders predict the trends that will dominate industry in 2022. And it’s not even Halloween.

UK’s first carbon capture, usage, and storage clusters: This initiative will play a significant role in the UK’s road towards net-zero, and aims to create and support thousands of jobs between 2023-2025.

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1-Minute Roundup: The Top Stories Shaping Your Industry - Ignite News

From pledge to action? An analysis from BloombergNEF, shows that 111 companies of the climate “focus” list have set net-zero targets: that is two-thirds of the world’s heaviest emitters. Although the climate pledges are impressive, it is the tangible steps that will matter, shares Axios.

NASA launched a new Earth-observing satellite: This satellite will provide a “rich form of data” that will capture changes in the planet’s landscape, which will be vital in understanding and managing Earth’s resources.

Global power shortage: There is a worrying shortage of energy from Europe to China – and beyond, caused by supply restraints from the world’s top producers, which poses threats to supply chains and homes.

How high will they climb? Oil prices rise above $80 a barrel for the first time in three years.

Less talk, more action: Making headlines in the Nordics, the CEO of Ørsted, Mads Nipper, says that a successful energy transition (link in Norwegian) depends not just on technology, but on proper leadership willing to make bold moves.

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Norway swings leftward: For the first time in 62 years, all five Nordic nations will soon be lead by leaders from the left side of the political spectrum.

Prep for the UN climate summit: Reuters reports that the US and EU are pursuing a global deal to cut methane emissions by at least 30% by 2030, compared with 2020 levels.

Time to step up! EU Commission President Ursula von der Leyen used her annual state of the union address to call on China and other nations to join the EU’s ambitious plan to deliver on climate commitments and to meet Paris Agreement targets.

Milestone in reversing climate change: Orca, the world’s largest direct air capture and CO2 storage plant, is a first-of-its-kind plant that translates the vision of industrial-scale direct air capture and storage into reality.

Does sustainable investing make any difference? In this podcast, Tariq Fancy, a former Blackrock executive, explains that real change will be lead by the government and not by Wall Street.

World’s hottest temperatures are rising: A global BBC analysis found that the total number of days above 50C (122F) has increased in each decade since 1980.

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The most important stories on industrial digitalization, sustainability, and the energy transition from around the world in the past two weeks:

Tipping the iceberg: 7 billion metric tons of rain fell across Greenland between Aug. 14-16, the most in recorded history (dating back to 1950). It’s also the first time that rain, not snow, fell on Greenland’s highest peak. Scientists have spotted signs of “extreme” melting.

Does autopilot come standard? Yara Birkeland, a Norwegian company, has created what it calls the world’s first zero-emission, autonomous cargo ship.

Sunny Europe: Solar panels produced nearly 10% of the EU’s electricity during this year’s sunny summer months. Within the EU, the Netherlands, Germany, and Spain generated the largest proportion of their electricity – nearly one-fifth – from solar power this summer.

Could Tesla charge your Tesla? Tesla wants to sell electricity directly to customers in Texas, according to an application filed by the company this month with the Texas Public Utility Commission.

We’re lacking computer chips: Semiconductors, known as “chips”, power everything from computers, smartphones, cars to gaming consoles. Although the demand is soaring in the US, fewer are being manufactured there.

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