Wood industry urges passage of forestry management bills

The wood industry said it is hoping for the passage of legislation on land and forest management, which it expects to attract investment in the forestry sector from both domestic and foreign sources.

“Those bills that have been sitting in Congress for so long (and I hope they are) passed, to encourage investors, foreign or domestic,” Charlie H. Liu, chairman of Philippine Wood Producers Association (PWPA), told BusinessWorld via phone.

A number of bills are pending in Congress include the proposed National Land Use Act; the proposed Forest Limits Act, which allows Congress to delimit forest land and national parks where conservation measures will be in force; and the proposed Sustainable Forest Management Act, which seeks to prescribe sustainable forest management of former mine sites, as well as to regulate the use of forest resources, including those within ancestral land. Continue reading “Wood industry urges passage of forestry management bills”

Planting Forests is Key To Sustainable Living

Everyone is committed to making their lives more sustainable in the midst of global climate challenges. But oftentimes, people forget that the simplest of things will help mitigate global warming. Keeping forests, for one, can help lessen carbon storage in the atmosphere. The United Nations have highlighted in their reports the importance of keeping forests sustainable. They consider it a principal strategy in limiting the warming of the Earth.

In the United States, the government keeps the forests to serve as a carbon sink. The report of the Environmental Protection Agency (EPA) states that 14.8 billion tons of carbon are stored in these forests each year. This rate is equivalent to offsetting about 16% of all emissions from the burning of fossil fuels annually. Continue reading “Planting Forests is Key To Sustainable Living”

‘Deforestation is a material risk that companies can no longer ignore’

While Unilever and Nestlé have made strides towards implementing no-deforestation policies, the vast majority of companies have not. Now some of the world’s biggest institutional investors are pushing for change through the Investor Initiative for Sustainable Forests, says Julie Nash of Ceres

As the cycle of forest fires burning through the Amazon has captured the world’s attention, institutional investors have seized the opportunity to shift the focus to some of the root causes of the problem: decades of poor forestry and land-use management and poorly managed agricultural supply chains.

Earlier this month, in the run-up to Climate Week New York, an unprecedented number of investors – 230 institutional investors representing $16.2trn in assets under management – issued an urgent plea to companies to take action against deforestation. Among the investors are some of the largest investment managers and asset-owners from around the globe, representing more than 30 countries. Continue reading “‘Deforestation is a material risk that companies can no longer ignore’”

Welsh Company Secures £12.8 Million for WaveSub Development

More than £12 million of EU funds will be invested in the next stage of a major initiative to generate clean energy from ocean waves, The funding will support the next stage of Swansea-based Marine Power Systems’ project to create and launch an underwater device that can provide clean, affordable and reliable energy in Wales and around the world.

The WaveSub device is the invention of Swansea University graduates Dr. Gareth Stockman and Dr. Graham Foster who founded Marine Power Systems in 2008. Continue reading “Welsh Company Secures £12.8 Million for WaveSub Development”

A Renewable Energy Giant Makes a $1 Billion Bet on Natural Gas

(Bloomberg) — One of America’s biggest renewable-energy companies is making a bet on natural gas.

NextEra Energy Partners LP agreed to buy Meade Pipeline Co., an owner of a pipeline that provides gas from Pennsylvania, in a deal valued at about $1.37 billion, according to a statement Monday.

While NextEra Energy Partners already owns pipelines in Texas, it’s viewed by many investors as a wind and solar company, owning 5 gigawatts of renewables as of mid-June. The move to buy a pipeline comes as utilities and cities across the U.S. are pushing to drastically cut back on burning fossil fuel. Continue reading “A Renewable Energy Giant Makes a $1 Billion Bet on Natural Gas”

Renewable Energy Will Provide Discount to Thousands

“Poor families are going to receive hundreds and hundreds of dollars every year because of this. If we as human beings don’t think mother nature isn’t going to bite back because what we have done, then we are living in a false reality and we need to wake up. and this project is one way to wake us up and says there is a bright beautiful future that we can have,” said former congressman Joseph Kennedy II. Continue reading “Renewable Energy Will Provide Discount to Thousands”

Orsted set to use a massive turbine to power two of its offshore wind farms in the US

Danish firm Orsted has chosen GE Renewable Energy as its preferred turbine supplier for two offshore wind farms in the U.S. The agreement means that Orsted is set to use GE Renewable Energy’s huge Haliade-X 12 MW wind turbines at the projects.

Orsted’s use of the turbines will represent the first commercial deployment of the Haliade-X 12 MW. The deployment is subject a final agreed and signed contract and project approvals.

The two wind farms the turbines will be used at are the 120 MW Skipjack facility off the Maryland coast and the 1,100 MW Ocean Wind project off the coast of New Jersey. It’s expected that the facilities will be commissioned in 2022 and 2024 respectively.

The U.S. offshore wind industry is relatively young. Its first offshore facility, the 30 MW Block Island Wind Farm, only commenced commercial operations in 2016. The Block Island Wind Farm is located off the coast of Rhode Island and operated by Orsted. Continue reading “Orsted set to use a massive turbine to power two of its offshore wind farms in the US”

Clean energy to power over seven million UK homes by 2025 at record low prices

Twelve new renewable energy projects have won Contracts for Difference – enough to power over seven million homes at record low costs

Twelve new renewable energy projects will be powering over seven million homes at record low prices thanks to the latest round of the government’s flagship Contracts for Difference scheme.

The new projects will provide around 6GW of capacity – 2.4GW more than the last round. For the first time renewables are expected to come online below market prices and without additional subsidy on bills, meaning a better deal for consumers. The costs of offshore wind are now around 30% lower than the second auction held in 2017, with projects now being delivered for as low as £39.65/MWh. Continue reading “Clean energy to power over seven million UK homes by 2025 at record low prices”

Tree-planting to offset carbon emissions: no cure-all

A few euros, a couple of mouse clicks and a tree is planted — as air travel is increasingly becoming a source of guilt, consumers and companies are looking for other ways to ease their conscience and reduce their carbon footprint.

But as more polluting industries join efforts to offset their carbon emissions, the effectiveness of the approach is open to debate, with some critics suggesting that tree-planting schemes are nothing more than a fig leaf.

Once marginal, the offset movement has even reached the arch-enemy of environmentalists: big oil.

Shell has ploughed $300 million (270 million euros) into forest plantations to reduce its carbon footprint by 2-3 percent, Italy’s ENI has set an objective of zero net emissions via its forestry investments, and France’s Total plans to set up a special “business unit” next year to spend $100 million annually on compensation efforts.

Beyond the grand statements, carbon offset schemes basically follow the same, simple mechanism. Continue reading “Tree-planting to offset carbon emissions: no cure-all”

IKEA parent confirms acquisition of Vestas’ 80% stake in Romanian wind farms

Ingka Group, the parent company of Swedish furniture giant IKEA, has confirmed in a press release it has reached an agreement with Denmark’s Vestas Wind Systems to acquire an 80% stake in 7 wind farm entities in South-East Romania.

Although the transaction between IKEA’s parent company and the Danish wind turbine manufacturer is signed, final completion is still subject to regulatory approval and is expected at the end of October, Ingka Group said. Continue reading “IKEA parent confirms acquisition of Vestas’ 80% stake in Romanian wind farms”