Arctic plastics, low-carbon milk and banks’ emissions disclosures: key sustainability news

It’s now or never: on 4 April 2022, the Intergovernmental Panel on Climate Change (IPCC) published a roadmap of the climate crisis with the final part of its assessment report, stating that greenhouse gas (GHG) emissions must peak by 2025 and can be nearly halved this decade to give the world a chance of limiting future heating to 1.5°C above pre-industrial levels. According to the report, the final cost of doing so will be minimal, amounting to just a few percent of global GDP by mid-century, though it will require a massive effort by governments, businesses and individuals. If no changes are made, temperatures will soar to more than 3°C with catastrophic consequences, unless policies and actions are urgently strengthened. For the first time, an entire chapter deals with the demand, services and social dimensions of climate-change mitigation. The report emphasises that individual behavioural changes will be necessary, but insufficient on their own if they are not integrated into broader structural and socio-cultural transformations that facilitate and incentivise citizens to change. To understand the magnitude of the net zero challenge, click here to access our infographic discussing three reasons to rethink net zero.

Scientists can predict carbon transfer in the ocean based on deep-diving tiny organisms, says a USC-led team of international scientists. The speed of this carbon transfer is influenced by the size and type of bacteria that latch onto the particles, according to a report published by ScienceDaily. It states that the discovery has enabled researchers to develop a computer model for estimating carbon transfer, a part of the Earth's natural carbon cycle to stabilise its climate in oceans across the globe. This discovery brings attention to how carbon – including pollution from cars – moves from the atmosphere into the ocean, said Naomi Levine, an Assistant Professor of Biological Sciences, Quantitative and Computational Biology and Earth Sciences at USC Dornsife College of Letters, Arts and Sciences. Knowing the carbon transfer rate could help scientists better understand how well the Earth is retaining carbon in the deepest parts of its oceans, or whether much of the carbon that normally would sink is returning to the atmosphere, Levine said. Interested to learn more about the steps we are taking to measure carbon levels in portfolios? Click here to read our PDF on comparisons of various ITR approaches.

The global 'plastic flood' has reached the Arctic. According to ScienceDaily, an international study released by the Alfred Wegener Institute shows the flood of plastic has reached all spheres of the Arctic. Large quantities of plastic transported by rivers, the air and shipping can now be found in the Arctic Ocean. High concentrations of micro plastic can be found in the water, on the seafloor, remote beaches, in rivers and in ice and snow. The plastic is not only a burden for ecosystems but also can worsen climate change. To learn more about how we are turning the tide on plastics, click here to read Natural Capital Portfolio Manager Alina Donets’s views on the issue.

Scientists have mapped coral reefs in the Caribbean to identify those most likely to survive climate change, reports the BBC. According to the report, corals with the highest potential to escape destruction from marine heat waves are predominantly located along the northern shoreline of Cuba and other promising sites are clustered around the Bahamas, Dominican Republic, Guadeloupe, Haiti, eastern Jamaica, and the US state of Florida. According to a recent IPCC report, at up to 1.5°C of warming, only 10-30% of coral reefs are expected to survive. If warming rises about that, survival prospects will plummet drastically. However, the scientists say their research – in line with other studies – shows coral reefs will not survive 2°C of warming, meaning urgent GHG emission reductions are needed to save them for future generations.

Spanish energy company Iberdrola¹ has started construction of the 476 MW Baltic Eagle offshore wind farm in the German Baltic Sea, having secured approvals from the German Federal Maritime and Hydrographic Agency. According to NS Energy Business, the farm is expected to be fully operational by the end of 2024 and will power 475,000 homes with renewable energy. It’s estimated to offset 800,000 tonnes of CO2 emissions per annum and is being built 30 km northeast of the Rügen island, off the Pomerania coast. Baltic Eagle is part of a large offshore wind complex in the Baltic Sea, which will have a total installed capacity of over 1.1 GW. The offshore wind complex is expected to involve a combined investment of EUR 3.5 billion.

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