Clean tech moves between 2,500 and 3 trillion euros globally. At the moment, most of these technologies are still far more expensive than their fossil alternatives, as shown by the recent study by the World Economic Forum and BCG "Winning in Green Markets: Scaling Products for a Net Zero World". While pioneering green markets involves taking a risk, it is likely to pay off as untapped markets emerge and are willing to pay more for sustainable products.
This is a statement contained in "Supply chain emissions, recycled textiles: Fashion's 2023 sustainability predictions", a Vogue report that describes the progress promised and achieved by the fashion industry in reducing environmental impact. According to the magazine, the fashion industry is still a long way from a 1.5°C target, but there are some encouraging signs.
G7 will provide Vietnam with $15.5 billion to help it move away from coal. Britain has announced the mix of loans and grants, which will help Vietnam's greenhouse gas emissions peak by 2030 (Source: Reuters) and reach 47% renewable electricity production by the same date.
The agreement achieves the goal of reducing CO2 emissions by 55% by the end of the decade. A new Emissions Trading System (ETS) and a Social Climate Fund (SCF). Power generators and heavy polluters covered by the ETS will have to reduce their pollution by 62% by the end of the decade, 1% more than initially proposed by the European Commission. Waste will be covered by the scheme from 2028, with potential derogations until 2030. [EU reaches deal on critical climate policy after marathon talks – Politico]
The certification body Bureau Veritas has certified plant-based tannin producer Tanac as a carbon-negative company. Leatherbiz explains that a forestry expansion programme and an increase specifically in its planting of black wattle trees has meant that for every tonne of CO2-equivalent of greenhouse gas that Tanac emits, its forests are removing seven tonnes.. [Bureau Veritas Certification Holding SAS - Tanac]
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