Welcome to this week’s edition of Current Climate, your trusted source for the latest news on sustainability. Don’t forget to sign up to receive this newsletter directly in your inbox every Saturday.
According to the International Energy Agency (IEA), global oil demand is expected to reach its peak by the end of the decade, followed by a decline. The agency predicts a 6% growth in total demand from 2022 to 2028, but identifies several factors that will drive down demand. The rise of electric vehicles and more fuel-efficient cars will lead to a decrease in the need for gasoline in transportation. Additionally, the war in Ukraine has highlighted the fragile supply chain for fossil fuels, prompting governments to invest in renewable energy sources.
Fatih Birol, Executive Director of the IEA, states that the transition to a clean energy economy is gaining momentum and urges oil producers to carefully consider the pace of change and adjust their investment decisions accordingly.
In other news, construction has begun on the first major offshore wind farm in the United States. The project, located off the coast of Massachusetts near Martha’s Vineyard, has faced legal battles and delays but is now progressing as part of the Biden Administration’s push for green energy. This marks the beginning of a series of offshore wind projects planned for the East Coast.
In the realm of discoveries and innovations, researchers have found that excessive groundwater extraction is actually causing a shift in the Earth’s tilt. Solar power is projected to contribute 40% of power utility generation by 2050, presenting both challenges and opportunities for the industry. Grey nurse sharks are on the brink of extinction due to straying from protected areas, with only 400 breeding individuals remaining. Engineers at MIT have developed a superabsorbent material that can harvest moisture from the air, even in desert-like conditions.
Moving on to sustainability deals of the week, investment manager Foresite has partnered with Salesforce to use the Net Zero Cloud product, aiming to improve data insights in achieving sustainability goals. Battery startup Lyten has commissioned its first automated pilot production line for its lithium-sulfur battery cells, which will help scale up production of alternative batteries.
Looking ahead, Texas and Louisiana are currently experiencing a major heatwave that is expected to last until at least June 21. This heatwave will likely result in record levels of energy usage as people seek relief from the high temperatures. Furthermore, it is predicted that excessive heat will persist throughout the summer globally, influenced by both climate change and the El Nino weather phenomenon.
Other interesting reads this week include a small mountain town in Puerto Rico that will soon rely on community-owned solar power, an emerging cheap solution to global warming gaining support, and the alarming fact that extreme heat is more deadly than hurricanes, floods, and tornadoes combined.
In the realm of green transportation, Toyota has announced plans for its next generation of electric vehicles set to launch in 2026. These vehicles will utilize solid-state batteries, which are lighter and more energy-dense than lithium-ion batteries. Investors responded positively to this news, leading to an 11-month high in Toyota’s stock price.
Lastly, in California, the initial segment of the state’s high-speed rail project will be powered by a utility-scale clean power system, demonstrating the commitment to sustainable transportation infrastructure.
That’s all for this week’s edition of Current Climate. Stay tuned for more updates and insights on sustainability.
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Jessica Irvine is a tech enthusiast specializing in gadgets. From smart home devices to cutting-edge electronics, Jessica explores the world of consumer tech, offering readers comprehensive reviews, hands-on experiences, and expert insights into the coolest and most innovative gadgets on the market.
