Double edged hydrogen, ultra-high temperature heatpumps and the cost of the Christmas party
In this issue:
The double edged sword of hydrogen
Hydrogen comes in many colours and the green variant is often touted as a clean, effective solution to help reduce global emissions. It remains relatively expensive but there is another, rarely cited, downside to widespread hydrogen use. Hydrogen concentrations in the atmosphere have been increasing over the last 30 years and with it has come a warming effect. While hydrogen doesn’t trap heat directly, it does intensify the warming impact of methane by interfering with molecules that break down methane, meaning the methane persists longer. Hydrogen also boosts ozone and stratospheric water vapour, both of which are greenhouse gases. The global research team behind the study conclude hydrogen has added about 0.02C to global temperatures which, while not sounding much, is equivalent to the cumulative emissions of an industrialised country like France.
Banks in reverse
That’s the suggestion of ShareAction, which has just compiled a report on the climate strategies of Europe’s 25 biggest banks. The report concludes the sector is in reverse on climate action. Only 4 of the 25 are completely excluding financing for companies with new oil and gas projects. Named and shamed for weakening earlier promises to move away from high-polluting sectors were HSBC, NatWest, Santander and Nordea.
Pension funds still supporting fossil fuels
An analysis of pension fund investments conducted by the Carbon Policy Initiative reveals over half (55%) the capital invested by these pension funds in the energy sector is still invested in companies with expanding fossil fuel interests. However, the news is not all bad. In 2020, one in ten pension funds had emission reduction targets for their portfolios. Four years later, that metric stood at six in ten. The study also concluded their climate statements have advanced beyond being a symbolic gesture and now have credible transition and implementation plans.
Ultra high temperature heatpump on the way
Researchers in China have developed a prototype heat pump that can output 270C from a 145C heat source, far exceeding the top temperature achievable by the current crop of high temperature heatpumps. The thermoacoustic, Stirling-based unit avoids compression technology and has no moving parts. The system can work off modest heat sources such as solar thermal collectors or industrial exhaust systems and could dramatically increase the number of processes that could employ heatpump technologies.
Aussies back batteries
On the back of last week’s story about Victoria switching on its megabattery comes news this week of strong, financial support for domestic batteries across Australia. The Federal Government has announced just short of an extra AU$5 billion (NZ$5.7bn) to its Cheaper Home Batteries programme, lifting the funding from AU$2.3bn (NZ$2.6) to AU$7.2bn (NZ$8.3bn). The programme provides a discount on installations of around 30% and is targeting the installation of two million systems by 2030, providing around 40GWh of storage.
The cost of the Christmas party
The financial cost of the annual staff Christmas party can run quite high but the real cost is often much larger. Business Waste in the UK has calculated the cost of waste associated with Christmas parties and uncovered some astonishing results. Across the UK, it estimates around 1.5 million tonnes of food is wasted each year, worth around £116 million (NZ$270m). Total emissions from the waste is of the order of 2,500 tonnes of CO2e.
Did you know…
80% of all contrail climate impacts emanate from just 2% of flights? Jet contrails are a material contributor to global warming as they trap greenhouse gases but it turns out contrails are not all equal, with just 2% contributing the vast majority of climate impact.
