Impact in numbers
212mt
The problem of waste from the renewable energy sector has become a global concern, as older projects are replaced and decommissioned.
Total waste from solar projects alone could reach 212 million tonnes a year by 2050, according to the International Renewable Energy Agency, posing great environmental risks.
China, the world’s biggest renewable equipment manufacturer, says it will set up a recycling system for ageing wind turbines and solar panels and it plans to recycle 1.5 million metric tonnes of photovoltaic modules by 2030, rising to 20 million tonnes by 2050.
$13m
Fossil fuels are being subsidised at a rate of $13 million a minute, despite being the primary cause of the climate crisis, according to IMF (International Monetary Fund) figures based on 2022 data.
The IMF analysis found the total subsidies for oil, gas and coal were €7 trillion, equivalent to 7% of global GDP and almost double what the world spends on education. Subsidies have increased by $2 trillion since 2020 as countries have responded to higher energy prices resulting from Russia’s invasion of Ukraine.
£2.1bn
Plans to build a £2.1 billion, 2GW Powerlink between Peterhead in Scotland and Drax in Yorkshire have received planning consent. The Eastern Green Link 2 will be the largest electricity transmission project ever developed in the UK and is described as a “renewable electricity superhighway, vital in supporting the UK’s transition to net zero”.
65 deg C
During heat waves, a substantial amount of the sun’s energy is absorbed and reflected by surfaces, which then transfer their heat to the surrounding air. While permeable surfaces like grass or soil absorb less heat, construction materials like asphalt and concrete can absorb as much as 95% of the sun’s energy, radiating it back into the surrounding atmosphere.
When the thermometer shows 38 deg C, asphalt and cement can reach temperatures higher than 65 deg C, which can cause skin burns.
According to the US Environmental Protection Agency, the annual mean air temperature of a city with 1 million or more people can be 1 to 3 deg C warmer than its surrounding areas and, on a clear night, the temperature difference can be as high as 12 deg C. It is called the urban heat island effect.
54%
The extreme loss that an investor could incur on the value of their unlisted infrastructure portfolio, due to the realisation of climate risks before 2050. That’s according to new research by EDHEC, the Infrastructure and Private Assets Research Institute.
The report, titled It’s getting physical, concludes that “if the relevant stakeholders managed to organise the transition towards a decarbonised economy today, extreme losses could be reduced by half”.
