Nobel Laureates up in arms, EV heat pumps and 50% HVAC savings
In this issue:
Nobel Laureates up in arms
75 Nobel Laureates (and a couple of politicians) have issued an open letter to world leaders ahead of next month’s Summit for the Future expressing their concern over the omission of reference to fossil fuels in the draft outcome document. It seems despite previous drafts emerging from COP28 including reference to “accelerating the transition away from fossil fuels”, this wording and, indeed, any reference to moving away from fossil fuels has been dropped.
Strong ESG shown as a positive valuation influence
A survey by Deloitte of how ESG is impacting merger and acquisition decisions shows a substantial increase in concern over ESG over the last two years. In 2022, 39% of companies reported the impact a merger or acquisition would have on their ESG profile would be a material consideration in the deal. In 2024, that has increased to 57%.
Not only are companies increasingly looking at ESG performance, they are also valuing good performance. 99% of companies indicate they will pay a premium for good ESG performance in a target with 83% indicating they would pay a significant or considerable premium, up from 62% two years ago.
Climate change triples chance of extreme wildfires
The recently published State of Wildfires report firmly attributes the increasing frequency and severity of wildfires to climate change. The last fire season (March 2023 to February 2024) saw 3.9 million square kilometres go up in flames. That is slightly down on the previous year because of fewer incidents in the African savannahs, nevertheless carbon emissions from wildfires were up 16%. The report concludes the chances of extreme wildfires are now three times more than they’d be without climate change influences. The New Zealand tracker shows a slight increase for 2023 from a very low 2022.
The march of the heat pump
Hanon Systems (South Korea) has just launched the world’s first, 4th generation heat pump for EVs. The system recovers heat from the motor, battery and ambient air to be used for heating or cooling the cabin and cooling the battery, thereby extending range. All in a unit that also reduces system size by 30%. The systems will become more widely available but, for now, are found only in the Kia EV3.
Easy air conditioner retrofit cuts energy use by 50%
Texas based Helix Earth Technologies is marketing an air conditioning retrofit system that it claims can save as much as 80% on energy costs in humid regions. Much of the energy consumed by HVAC is used/wasted in dehumidifying the air sucked in. While there are numerous technologies aimed at addressing this, Helix claims its modules are simple, bolt-on retrofits that pay for themselves in three years.
Solar highway potential
It has to be said New Zealand is not the best at long term infrastructure development, but what if we could pretty much solve our future energy demand using renewables with no incremental land use? An international team of researchers has just published a paper indicating 60% of the world’s annual energy needs could be satisfied if we built solar roofs over highways. The numbers are staggering. Installing the 52.3 billion panels over the 3.2 million Kms of highway would generate 17,578 TWh of electricity a year and cut nearly 29% off global emissions. The team believes 56% of the sites would deliver electricity at less than US$100/MWh (NZ$167) and avoid 150,000 traffic deaths linked to bad weather. With NZ’s Ministers for Energy and Transport being the same person, is it a time for a Think Big attitude?
