carbon emissions Archives

GM beats Q3 forecasts, raises 2024 profit outlook

October 22, 2024

General Motors posted a stronger-than-expected profit in the third quarter of 2024, boosting its outlook for the full year. Despite challenges from last year’s United Auto Workers strike, GM’s revenue rose by more than 10%, and the company is on track to achieve record profits.

GM reported an adjusted profit of $3.4 billion for the third quarter, an increase from $3.2 billion in the same period in 2023.

The company’s revenue climbed to $48.8 billion, surpassing expectations by nearly $800 million. North American customers paid an average of nearly $50,000 per vehicle, highlighting a rise in average transaction prices.

GM’s strong earnings come in contrast to its performance in China, where the automaker lost $137 million in Q3, due to a 37% drop in sales.

Chinese competition has significantly impacted what was once GM’s largest market. In the electric vehicle space, GM captured 6.6% of the U.S. market in Q3, but Tesla still leads with 48.2% of EV sales.

With shares up over 40% in 2024, GM expects its full-year earnings to top last year’s record.

First ammonia-powered tugboat sets sail amid race to lower carbon emissions

September 24, 2024

As companies across the globe look for ways to cut carbon emissions, the first ammonia-fueled tugboat set sail on New York’s Hudson River Sunday, Sept. 22. The 67-year-old boat used to be run on diesel fuel, but the startup company Amogy bought it and adapted it to run on cleanly-made, carbon-free ammonia fuel.

This marks a major milestone in the race to replace fossil fuels with renewable fuels. According to the United Nations, emissions from shipping have gotten worse over the last decade as vessels have grown bigger to accommodate more cargo every trip and require more fuel.

https://twitter.com/amogyinc/status/1838239744242733372

“The maritime and heavy-duty power industries generate a significant portion of global carbon emissions,” Amogy Project Lead Abigail Jablansky said, “and the advantage of using ammonia as a fuel is it eliminates carbon from that cycle entirely.”

The U.S. said about 3% of the global emissions total can be attributed to shipping alone.

Copenhagen nearing goal of becoming a carbon-neutral city

September 12, 2024

While most U.S. cities with carbon neutrality targets have set their sights on reaching this milestone by 2035 at the earliest, Copenhagen, Denmark, is pursuing a more ambitious goal. The Danish capital aims to become a carbon-neutral capital by next year, with the the city already 75% of the way there.

Since 2005, Copenhagen has reduced its emissions output by three-quarters, using a wide range of sustainability initiatives to make its industries and daily life more environmentally friendly. Half of all commutes in the city are now made by bicycle, schools have stopped serving red meat, and the city has invested heavily in renewable energy infrastructure.

These policies have brought Copenhagen closer to its goal, though the city will not reach full carbon neutrality by 2025 as originally planned. By next year, Copenhagen expects to cut emissions by 80% compared to 20 years ago.

Officials are now planning to achieve full neutrality for the city before 2030. If successful, it could still be the world’s first carbon-neutral capital.

City leaders hope Copenhagen’s rapid decarbonization progress serves as an example for other cities around the world, especially since metropolitan areas are expected to house three-quarters of the global population and produce around 70% of global emissions by 2050.

Study reveals only a fraction of global climate policies actually work

August 26, 2024

A recent analysis of global climate efforts by a coalition of researchers found that only a small fraction of the policies implemented over the past two decades have been effective in reducing carbon emissions. The study, which examined 1,500 climate initiatives across 41 countries, found that only 63 of these strategies made a meaningful impact on reducing greenhouse gas output.

“It is easy for countries to say they will reduce their emissions of greenhouse gases, but these statements do not mean that the policies they adopt will be effective,” said Jesse Smith, the senior editor at the American Association for the Advancement of Science. “This work illustrates the kinds of policy efforts that are needed to close the emissions gaps in various economic sectors.”

The research investigated the success of a variety of policies, including bans on coal plants, fossil fuel taxes and emissions trading schemes. However, the study’s lead author, Nicholas Koch, emphasized that the sheer number of climate regulations does not necessarily correlate with better outcomes. Instead, countries that successfully reduced their greenhouse gas emissions did so by employing a diverse mix of policies tailored to their unique circumstances.

“Meeting the Paris Agreement’s climate targets necessitates better knowledge about which climate policies work in reducing emissions at the necessary scale,” the report reads. “Our insights on effective but rarely studied policy combinations highlight the important role of price-based instruments in well-designed policy mixes and the policy efforts necessary for closing the emissions gap.”

For instance, initiatives such as banning the sale of gas-powered vehicles were only effective when combined with tax incentives or pricing strategies. This underscores the importance of a multi-faceted approach to climate policy.

The study also noted that there is no “one-size-fits-all” solution to reducing emissions. Different nations have varying needs and resources, meaning that the most effective strategies for lowering emissions will vary across the globe.

Microsoft plans community solar panels across US to offset AI emissions

August 8, 2024

The rapid expansion of artificial intelligence (AI) is significantly increasing energy demands worldwide, particularly impacting tech companies that operate data centers to support AI operations. These companies are now facing the challenge of managing a substantial rise in electricity consumption while adhering to their commitments to achieve net-zero carbon emissions.

Microsoft committed to becoming carbon negative by the end of this decade. However, the company’s emissions have risen by nearly one-third compared to 2020 levels, a surge largely driven by the increased use of AI technologies.

In response to these growing energy needs, Microsoft announced a partnership with Pivot Energy on Thursday, Aug. 8. The collaboration aims to develop 500 megawatts of community-scale solar power across the United States.

According to Microsoft, the solar power generated will be enough to supply energy to a small city, potentially reducing emissions at a rate equivalent to removing 165,000 gasoline-powered cars from the roads annually.

The solar initiative is expected to benefit as many as 100 communities in 20 states, with a focus on areas where low-income residents face disproportionately high electricity costs. Microsoft emphasized that the selection process prioritized these underserved communities.

“We believe the clean energy transition can and should benefit communities across the United States that have been historically excluded from economic opportunity,” Adrian Anderson, the general manager for renewable and carbon free energy at Microsoft, said. “Through our work with Pivot Energy and with its commitments to driving community impact, this collaboration helps to build more inclusive, local economic growth across 100 communities while addressing the sustainability needs and opportunities within those communities.”

While the solar energy produced through this initiative will not directly power AI operations, it will enable Microsoft to purchase renewable energy credits. Those credits will serve as offsets for the emissions generated by the company’s data centers, helping Microsoft move closer to its sustainability goals. The first of these solar projects is slated for completion by the end of 2024, with additional projects scheduled through 2029.

2024 Olympics sees its eco-friendly goals face accusations of ‘greenwashing’

July 29, 2024

The Paris 2024 Summer Olympics have been promoted as the most eco-friendly Games ever. However, experts are raising concerns about the effectiveness of these sustainability commitments, calling them “greenwashing.”

Paris organizers have set a goal to halve the carbon emissions of this year’s Games compared to previous Olympics in Rio de Janeiro and London. To achieve this, they are investing over $16 million in carbon credits to offset the emissions generated during the event. This involves funding climate-friendly projects worldwide to compensate for the pollution in Paris.

“As climate change accelerates, the Games’ response to it must do the same,” Marie Sallois, IOC director for sustainability, said. “The Paris 2024 organizers are stepping up to the challenge, and they are doing so by focusing first and foremost on the core part of addressing it: by cutting emissions.”

Some of these credit-generating projects have faced scrutiny from environmental watchdogs over the legitimacy of their claimed benefits. Organizations like Earth Day and Carbon Market Watch have questioned the transparency of the Olympics’ emissions assessment and whether the purchased carbon credits will effectively balance out the pollution they are meant to offset.

“Though commendable, the Paris 2024 climate strategy aim to minimize the event’s carbon footprint is incomplete, and falls short of achieving transparency,” Carbon Market Watch said in a statement. “Transparency regarding carbon credit purchases is lacking, hindering public engagement and an assessable oversight of the event’s environmental responsibility.”

In addition to carbon credits, the Games aim to meet a 100% renewable energy goal through another form of emissions offsetting. The use of Renewable Energy Certificates (RECs) means that the electricity used in the stadiums may not come directly from renewable sources. Instead, the Olympics will pay for green energy to be produced elsewhere. The New Climate Institute has noted that this practice can lead to significant misrepresentation of reported energy emissions from users of these certificates.

Despite the criticisms, the Olympics have introduced measures to address some of these renewable energy sourcing concerns. It is using blockchain technology to ensure that the power consumed from non-renewable sources during the Games is accurately matched and injected back into France’s power grid from domestic clean power providers.

The future of global energy is likely to be made in China

July 15, 2024

A recent report by U.S.-based think tank Global Energy Monitor revealed that China is currently building nearly two-thirds of the world’s wind and solar power projects. These new facilities are expected to produce twice as much energy as all other countries combined, which is enough to power around 250 million homes.

“All told, 2023 saw unprecedented wind and solar growth in China,” the report said. “The unabated wave of construction guarantees that China will continue leading in wind and solar installation in the near future, far ahead of the rest of the world.”

As the world’s largest emitter of greenhouse gases, China’s shift towards cleaner energy sources could signal a peak in its emissions output. In May, China generated 53% of its electricity from coal, marking a record low. On the other side, 44% came from non-fossil fuel sources, a record high.

“If current rapid wind and solar deployment continues, then China’s CO2 output is likely to continue falling, making 2023 the peak year for the country’s emissions,” Lauri Myllyvirta, a senior fellow at Asia Society Policy Institute, wrote.

Experts anticipate that this rapid increase of renewable power could allow China’s carbon footprint to continue to shrink, even as the country’s demand for electricity grows. This presents a stark contrast to the United States, which is still grappling with the challenge of reducing emissions while meeting increasing energy needs.

US may have to go nuclear to meet climate goals, surging energy demand

July 12, 2024

For the first time in nearly two decades, power demand in the United States is on the rise. Electric utilities have nearly doubled their forecasts for additional power needs by 2028. To meet this growing demand and achieve net-zero emissions by 2050, the Department of Energy (DOE) estimates that the country will need to triple its nuclear power output.

Efforts are already underway to expand nuclear power. One such development includes the potential revival of the Three Mile Island nuclear site in Pennsylvania.

The site, which experienced a partial meltdown in 1979 that soured American public opinion against nuclear power, has been out of operation for years. However, with rising energy needs, the site’s owners are in serious talks with government officials about reopening it.

In addition to reviving old facilities, new nuclear projects are also being planned. Dominion Energy recently announced its plans to build the nation’s first-ever small modular nuclear reactor (SMR) in Virginia. This technology promises a reduced environmental footprint and lower costs for consumers compared to larger reactors.

Other planned SMR projects around the country are aiming to offer energy prices that are competitive with wind and solar power.

In California, the Diablo Canyon Power Plant, which was slated to close this year, will now continue operating through 2030.

The plant provides around 10% of the power for California, the nation’s second-largest energy-consuming state.

Environmental groups have brought legal action to try and force the closure of this aging facility, which first became operational in 1985. However, closing the plant would cost around $4 billion and remove California’s largest single source of carbon-free power.

Amazon says it runs on 100% clean power, employees say total is far lower

July 11, 2024

Amazon announced on Wednesday, July 10, it has achieved its goal of running entirely on renewable electricity, seven years ahead of its initial projections. However, the Amazon Employees for Climate Justice (AECJ) is challenging this assertion, claiming in a report that the company may not be telling the whole truth.

According to the AECJ, only about 22% of Amazon’s operations actually run on clean power. The group also claims that Amazon significantly undercounts the carbon pollution it is responsible for.

“What Amazon emits in one year is equivalent to you or I deciding to take a long-haul plane flight every day for 97,700 years,” the AECJ said in its report. “In fact, Amazon is operating at the scale of a country, and not a small country either. Amazon’s emissions at 71.27 million metic tons CO2 equivalent, by its own calculations, rank 48th, ahead of 167 countries’ emissions in 2022.”

Amazon sells a wide range of products not manufactured by the company on its website, and the AECJ said it does not include the life cycle emissions of these goods in its carbon footprint calculations. Instead, Amazon only accounts for the emissions from products it manufactures, which comprise just 1% of the company’s total sales.

However, in a statement issued to Straight Arrow News, Amazon disputed the findings of the AECJ’s report and said its own data provided the correct information.

“Amazon’s Sustainability Report has the correct data, transparent published methodologies, and third party assurance,” an Amazon spokesperson told SAN. “The paper you’re referring has incorrect findings and assumptions, likely because, as its authors admit, it’s based on data and opinion from outside the company.”

Amazon has highlighted its billions of dollars in investments toward renewable energy projects worldwide. The company has funded more than 500 wind and solar projects globally, which together can generate enough energy to power over 7.5 million U.S. homes.

“Our teams will remain ambitious, and continue to do what is right for our business, our customers, and the planet,” Amazon Chief Sustainability Officer Kara Hurst said in a statement. “That’s why we’ll continue investing in solar and wind projects, while also supporting other forms of carbon-free energy, like nuclear, battery storage, and emerging technologies that can help power our operations for decades to come.”

Amazon maintains that this represents a significant milestone in its commitment to achieving net-zero carbon operations by 2040, a goal that some of its employees believe the company will struggle to meet.

China is quickly catching up to the US in race for nuclear fusion energy

July 10, 2024

The pursuit of nuclear fusion, often hailed as the “Holy Grail of energy,” is intensifying as countries vie to achieve a breakthrough that could revolutionize electricity generation. Nuclear fusion promises nearly limitless energy with minimal fuel input and zero carbon emissions by harnessing the heat produced during this atomic process.

The United States initially led the global race to unlock nuclear fusion power. However, China is rapidly closing the gap, investing approximately $1.5 billion annually in fusion technology — nearly double the U.S. government’s yearly fusion budget, according to The Wall Street Journal. China also boasts a significant advantage in human resources, with 10 Ph.D.s in fusion science and engineering for every one in the U.S.

Beijing’s efforts are comprised of crews working on fusion projects, including the construction of a massive new fusion technology campus and the establishment of a national fusion consortium. This consortium will collaborate with some of China’s largest industrial companies to accelerate the development of fusion technology.

Experts predict that, at its current pace, China could surpass the fusion capabilities of both the U.S. and Europe within the next three to four years. This rapid progress has raised concerns among U.S. officials, who fear that China achieving fusion first could enhance its geopolitical influence over energy resources.

A scientific breakthrough in nuclear fusion would significantly advance the global transition to clean energy. Fusion’s potential to provide a nearly inexhaustible and environmentally friendly power source would make it an invaluable technological achievement. As the race to achieve nuclear fusion continues, it remains uncertain which nation will make the pivotal breakthrough.