Inaction costs, long duration storage and heat cancels climate event
In this issue:
Inaction doesn’t pay
Inaction on climate related risks could end up costing large organisations a collective US$1.24 trillion (NZ$2.2trn) by 2030, claims CDP in its 2026 Disclosure Dividend report. Meanwhile, those taking action are reporting they see $10 in potential benefit for every $1 invested in addressing physical climate risk, while also reporting savings of US$80-94 billion (NZ$142-$166bn) through emissions reduction initiatives since the launch of the annual report in 2025.
Corporates heading for 3.2
That’s the temperature rise above pre-industrial levels consistent with current corporate climate targets according to a new report from WWF and CDP. The companies analysed make up 85% of global market capitalisation.
Green economy tops $18 trillion market cap
The 2026 edition of Investing in the Green Economy from London Stock Exchange Group (LSEG) indicates the global green economy has now surpassed US$10 trillion market capitalisation. Electrification and energy security drivers delivered the biggest growth in revenues since 2022 last year at 5.3%, or US$5.5trn across the 21,000 companies analysed.
Just how much do the super-rich cost?
We’ve seen numerous stories about the disproportionate damage on the environment caused by some of the more extravagant activities of the super-rich. A team of analysts from Leiden University (Netherlands) has taken things a step further and concluded annual damages owed by the top 10% wealthiest people to be US$1.7–$5.7 trillion (NZ$3-10trn), equivalent to US$2.3k–$7.5k (NZ$4-13.3k) per person in the world (in 2017 US dollars). Interestingly, this sum exceeds the global climate and biodiversity funding gaps.
Green skills remain in high demand and gender biased
As a snapshot of likely global trends, Linkedin’s 2026 report on demand for green skills in the UK shows a consistent pattern to previous years with demand exceeding supply by a factor of 1.8 and a hiring rate running at 38% above the overall average for the site. The sector remains significantly gender biased with some regions demonstrating a 4:1 male:female ratio.
The Dutch alternative
Last week, we reported on the Irish plan to address renewables intermittency through long term storage with a 600MW facility based on hydrogen. The Dutch have opted for a different route and are looking at building a 1GWh, 100-hour facility using iron-air technology. The 400MWh first phase of the development is planned to be commissioned in 2028. Who would have thought rusting could be so useful?
Europe turning to long term storage
Meanwhile, Eurelectric has just published a report on the growing potential for long duration storage in Europe. Its analysis claims each GW of Long Duration Energy Storage (LDES) could generate €150-250 million (NZ$300-500m) in annual variable operating cost savings at the system level, compared with curtailment of renewables at times of abundance.
It’s clear, whether it’s hydrogen (Ireland), sand (Finland), or iron-air (Netherlands), the Europeans see the future for addressing renewables intermittency as long term storage, not increasing dependence on natural gas.
Sand battery explainer
If you aren’t familiar with the benefits and limitations of sand batteries, or how they work, we came across this simple explainer video this week. It also reports on how well a sand battery in Finland performed through a harsh, Scandinavian winter.
Storing light in a bottle
A less developed, but quite fascinating, new storage technology has been developed by an international team of scientists across the US, Italy, China and Australia. They have created a liquid that stores energy it is exposed to, including light, by transforming into a gel. When the gel is exposed to oxygen it transforms back to liquid form, releasing the stored energy in the process. It’s thought the technology could have applications where the use of metal based batteries can cause problems, such as in some medical devices.
Irony of the week
The London Climate Action Week event, Extreme Heat: Improving governance and strengthening action around the world, was cancelled this week. The reason: The current heatwave hitting Europe. Apparently, the building hosting the event lacked a cooling system and the wellbeing of attendees forced the cancellation.