Bank alliance collapsing, productivity meltdown and artificial photosynthesis
In this issue:
What is it?
Answer below
Bank alliance collapses
The UN-backed Net-Zero Banking Alliance is on the verge of collapsing as a member organisation. The organisation was set up in 2021 with the aim of aligning banking activity with a net zero by 2050 target and members were required to commit to this. Over the past year, JPMorgan Chase, Goldman Sachs, Wells Fargo, Citi and Morgan Stanley have all extricated themselves from the organisation and several major European institutions, such as HSBC and UBS, have followed. The remaining members have been presented with a proposal to dissolve the organisation as a membership group and repurpose it into an organisation providing frameworks to support emissions reductions.
EU carmakers seek extension
European car makers have stepped up lobbying for the relaxation of the EU’s ban on sales of new combustion vehicles from 2035, claiming the transition is “no longer feasible”. Citing higher US tariffs, a dependence on China for batteries, higher manufacturing costs and charging infrastructure deficiencies restricting the appeal of pure EVs, the group is suggesting the net zero target is pushed back to 2050.
Every degree drops productivity 2-3%
That’s the conclusion of a report on workplace heat stress just published by the World Health Organisation and the World Meteorological Organisation. The report concludes that as well as the more obvious health risks such as heatstroke, dehydration, kidney dysfunction and neurological disorders, excess heat carries a direct productivity cost with a drop of 2-3% for every degree above 20C. Risks and productivity drops are seen in outdoor and indoor workers with an estimated half the global population suffering adverse effects.
Artificial photosynthesis a (major) step closer
Photosynthesis generates oxygen and fuel (in the form of sugars) from light, water and CO2. We rely on it for breathable air and we’re trying to reduce levels of one feedstock item while, at the same time, destroying much of the habitat that provides this valuable service. How wonderful then, if we could replicate the photosynthesis process artificially? The process could provide fuel and remove CO2 from the atmosphere, the win-win outcome we relish. Scientists from the University of Basel have taken the first, major step to achieving that by creating a molecule that can store sunlight as charges. The molecule comprises 5 components, two units release electrons and become positively charged, two capture those electrons to become negatively charged, the final unit triggers the reaction by absorbing sunlight. This is the core process of photosynthesis and while the natural process has not yet been fully replicated, this is a major step forward.
Wrinkles are good
At least in the world of electronics. Scientists at Rice University expect ultra-compact energy efficient devices to emerge from their discovery that wrinkles or creases in two-dimensional materials can control electron spin with record precision. Currently (pi), most devices use a charge of electrons through silicon to process and encode information. Future computers might use electron spin instead, not viable now because the process often experiences rapid degradation. However, it seems creases can stabilise the spin and halt the degradation. If scaled, the result would be much more energy efficient data processing.
Did you know …..
There’s enough lithium in one year of U.S. mine waste to power 10 million electric vehicles? That’s according to scientists from the Colorado School of Mines who also found there is enough manganese wasted for 99 million vehicles, both figures far exceeding US import levels for those elements. Recovering only 4% of the wasted lithium would satisfy US demand.
What is it? (Ans)
It’s the world’s first megawatt level, floating wind turbine. Developed by Beijing SAWES Energy Technology Company, Tsinghua University and the Aerospace Information Research Institute of the Chinese Academy of Sciences, the S1500 is apparently ready for testing. The helium-filled, airship-like structure is designed to float at 1,500 metres, where wind speeds are stronger and more stable. However, probably its biggest advantage is its transportability, meaning it can be used as a mobile generator in the event of emergencies and network failures.