Sustainable News Archive

In a race against climate catastrophe, scientists are pinning hopes on carbon capture and storage (CCS) technologies to remove greenhouse gases from industrial emissions and the atmosphere. However, CCS projects have faced numerous setbacks, including high costs, technical hurdles, and public skepticism. The UN’s climate panel warns that without rapidly scaling up CCS alongside slashing emissions, temperature goals risk becoming unattainable.

A recent study found that advanced CCS systems could curb emissions by 8 billion tonnes annually by 2050 if deployment accelerates sharply. But challenges remain, as current global CCS capacity stands at just around 40 million tonnes per year. With the climate clock ticking, the feasibility of widespread CCS adoption will be pivotal in avoiding the worst ravages of global warming.

The controversial deal to establish global carbon trading markets is raising concerns of financial speculation. Critics warn that investors could manipulate prices, undermining efforts to reduce emissions. The agreement lacks safeguards against abuse, with traders potentially able to hoard credits, restricting supply and driving up costs for polluters. However, proponents argue a traded market incentivizes green investments and provides a cost-effective path to reach climate targets.

Emissions trading has a checkered history, with the European Union’s carbon market experiencing extensive fraud, value crashes and windfall profits for some polluters. Environmentalists caution the new global scheme repeats past mistakes without strict oversight. However, negotiators claim revised rules will drive capital towards developing nations to fund renewable energy and forest protection projects to offset emissions.

The mortgage giants Fannie Mae and Freddie Mac face substantial risks from climate change that could quickly cause billions in losses. Internal research shows escalating natural disasters threaten to devalue large swaths of their mortgage portfolios. However, safeguarding themselves will require raising mortgage costs in vulnerable areas – a move sure to draw political backlash.

The companies have already been assessing climate risks on a limited basis, but comprehensively pricing that risk into mortgages could make housing unaffordable for many Americans. Experts warn climate change may spawn a new housing crisis if the financial dangers are not addressed soon. With $6 trillion in mortgage exposure, Fannie and Freddie’s climate reckoning could reshape the housing market.

Shocking Obstacles Preventing a Worldwide Ban on Plastic Pollution

United Nations-backed talks for a global treaty to end plastic pollution wrapped up without an agreement in the early hours of Sunday, December 1. A new round of talks is expected in mid-2025. Negotiations foundered over a cap on plastic production, restrictions on the use of certain chemicals in plastics and financial support to help developing countries switch to less polluting business models. These are staunchly opposed by the “like-minded group” of countries, including Saudi Arabia, Iran, Russia and other major oil producers with powerful advocates for the petrochemical and chemical sectors, for whom plastic offers a rapidly growing market.

While no deal was agreed in Busan, South Korea, where the talks took place, there was a feeling of renewed determination to create an ambitious and robust plastics treaty. In a memorable moment during the debate, a delegate from Rwanda spoke about the need for reductions in plastic production to confront mounting pollution, and was met with a standing ovation. Delegates stood up to applaud the Rwandan delegate’s remarks. A delegate from Mexico read out a list of 95 countries that support a global phaseout of plastic products containing chemicals of concern to prolonged cheering by aligned delegations. The spirit of collaboration and multilateralism was tangible.

Forrest Meggers, a Princeton University professor, has transformed his home into a live-in sustainability lab. The residence features cutting-edge technologies like solar panels, rainwater harvesting, and a composting system. Meggers aims to demonstrate how individuals can reduce their environmental footprint through everyday lifestyle choices.

The professor’s research focuses on developing innovative building systems that minimize energy consumption and waste. By living in this experimental home, he can test new sustainable technologies firsthand. Meggers hopes his work will inspire others to adopt more eco-friendly practices and promote a culture of environmental stewardship.