Sustainability

The ILX pension fund investor set up with the backing of German, Dutch and British public money has committed to join the EBRD in providing the finance for climate-related investment across the lender’s sphere of influence.

Canada-based Ly-Cycle has formed a joint venture with Norwegian-headquartered strategic partners Eco Stor and Morrow Batteries to build a new commercial lithium-ion battery recycling facility in southern Norway.

Mercedes-Benz has teamed up with ProLogium to integrate solid-state battery technology into a range of passenger vehicles; Panasonic and Toyota have launched an industrial-academic collaborative research program concerned with battery resources and recycling; and LG Energy Solution plans to spend $2.1 billion with General Motors to build another electric vehicle battery plant in the U.S.

The latest numbers released by EU data body Eurostat indicate renewables, including hydropower, contributed 37% of Europe’s gross electricity consumption in 2020, up from 34% a year earlier.

A preliminary ruling by the European Court of Justice states panel makers should not be responsible for electrical waste management costs in a seven-year period as the rules in place before the EU’s WEEE directive entered force, in 2012, permitted member states to place the obligation on panel users instead. The resulting change in law, in some states, cannot be applied retroactively, under EU legal rules.

A speech delivered by the European Commission’s executive VP for the European Green Deal reiterated the EU executive’s belief natural gas will play a part in the energy transition, 24 hours before a member of an advisory panel hit out at plans to deem gas and nuclear sustainable energy sources.

Researchers from the University of New South Wales (UNSW) predict that growth to 60TW of photovoltaics needed to rapidly reduce emissions to ‘net zero’ and limit global warming to <2 °C could require up to 486 Mt of aluminium by 2050. A key concern for this large aluminium demand is its large global warming potential.

The off-grid solar supplier said the fact its latest finance package is denominated in local currency will help encourage African commercial banks to be more ready to back PV.

While East Africa – and Kenya is particular – has made great strides in the provision of off-grid solar systems, Central Africa is a long way behind, according to a new report from IRENA and the African Development Bank. In terms of investment, the study’s authors wrote, much, much more will be required to achieve universal electricity access this decade.

The Platform on Sustainable Finance was unstinting in its criticism of a suggestion made by the EU executive on New Year’s Day, that the divisive energy sources be considered eligible for support in the bloc.