Greenbacks in the bank, stick beats carrot for sustainability action and fishy air-con
In this issue:
Greenbacks in the bank
Over the last ten years, the green economy has outperformed nearly all other sectors and delivered 198% total returns, according to a new report from the London Stock Exchange Group. The only sector to better the green economy was the tech sector. Interestingly, the biggest winners were companies operating in energy management and efficiency with renewables described as “laggards” despite grabbing more headlines. Returns of companies operating in energy management and efficiency have seen an average 17% compound growth rate over the last five years. The report is available as a free download.
Legislation biggest sustainability driver and climate tops challenge list
The sustainability agenda is predominantly driven by legislative requirements according to the latest GlobalScan/ERM international survey of 484 sustainability experts, followed by disclosure standards. Respondents came from 65 countries and 90% had over 5 years experience in sustainability. Climate change remains the most urgent challenge, followed by biodiversity loss, deforestation and water scarcity in that order.
Planes, trains and trends
It’s twelve months since France introduced its ban on short haul flights where fast trains presented a credible alternative. And while official figures have yet to be released, proxy evidence suggests the ban has had some impact. Emissions from domestic flights have decreased – albeit slightly – whereas emissions from international flights have increased and train travel has bounced back to pre-covid levels, whereas domestic air travel has not. While neither of these facts is compelling without official figures, some commentators are suggesting a shift in behaviours has occurred and a precedent has been set. Other European countries are now considering similar measures. So, a qualified success at this point.
Carbon offsets take more flack
The carbon credit market took another hit last week when 80 not-for-profits, including Greenpeace, Amnesty International and Oxfam, came out swinging with the accusation offset programmes are an easy out and delay action to reduce emissions. As we heard from the ICVCM at our conference just a few weeks ago, the future of the market and its effectiveness relies entirely on the integrity of offsets and a reset is needed.
Air codnitioning (not an error, just a poor pun)
OK, not cod but salmon DNA mixed with gelatin is being investigated as a cooling material by scientists in China. The concoction is formed into biodegradable, aerogel bricks which can be layered on buildings. The bricks are self-healing and can even be dissolved in hot water and reformed with a near 100% recovery rate. The cooling effect comes from the photoluminescence of the bricks which have a visible light reflectance in excess of 100%, although this claim of >100% has been questioned. In tests, the bricks showed an ambient cooling effect of 5.7C in cloudy areas and 16C in direct sun. They even had a cooling effect of 1.8C between midnight and sunrise. The scientists believe external coatings of the bricks could reduce the energy required to cool buildings by 69%.
Cool roofs way to go
Whether salmon-based bricks or white paint, it seems cool roofs are the most effective means of combatting urban heat. Researchers at University College London have determined that cool roofs are more effective than rooftop solar, green roofs, street-level vegetation and air conditioning at reducing temperatures across the city. They determined widespread adoption of cool roofs could reduce the city’s temperature by an average 1.2C on hot days.