10 November 2021

Scandinavian countries top Climate Change Performance Index 

Denmark, Sweden, and Norway were ranked the highest on the Climate Change Performance Index (CCPI), published during the COP26 summit in Glasgow. The top three ranks on the CCPI remained vacant again this year, an acknowledgement that no country’s measures are sufficient to achieve the 1.5-degree target - in accordance with the Paris Agreement. Thus, Denmark topped the ranking by placing fourth, followed by Sweden and Norway placing fifth and sixth respectively – mainly accredited to major investments in renewable energy. The CCPI builds on an assessment of 60 countries in addition to the EU, who are collectively responsible for 90% of global CO2e (Naestved Netavis, DW, New Climate).

Scania and SCA develop 80-tonne electric timber truck

Scania and SCA are jointly developing the first fully electric timber truck with a total weight capacity of up to 80 tonnes – marking yet another step in the green transition of the transportation sector. The E-truck is planned for delivery during 2022 and will be used to transport timber in the Swedish region of Västerbotten, between SCA’s wood-terminal in Gimonäs and its papermill in Obbola outside Umeå. For SCA, Europe's largest private forest owner and transporter of 8.5 cubic metres of wood from forest to industry, electrification is an important pathway for reducing its climate impact. Scania has developed the E-truck based on several analyses to offer a transportation solution that is best suited for SCA’s specific transport assignments (Press release).

Nordic leaders announce $130 billion Nordic contribution to Climate Investment Coalition: COP26

Nordic leaders together with private investment funds announced a $130 billion Nordic contribution to the Climate Investment Coalition by 2030,. The funding will be mobilised by Nordic & UK pension funds. The contribution, presented at the Nordic Pavilion, aims to support the green transition by funding investments in clean energy and the climate and is mobilised by Nordic & UK pension funds. At the event, Mette Frederiksen (Prime Minister of Denmark), H.E Sauli Niinistö (President of Finland), Bárður á Steig Nielsen (Prime Minister of the Faroe Islands), Múte B Egede (Prime Minister of Greenland), Katrín Jakobsdóttir (Prime Minister of Iceland), Jonas Gahr Støre (Prime Minister of Norway) and Stefan Löfven (Prime Minister of Sweden) were present (Norden). 

Matsmart raises €24 million: Expand discount food waste deliveries to new markets

Matsmart, or Motatos as it is known internationally, announced a €24 million finance round led by London-based equity firm Blume Equity. This round of funding will be used to accelerate its international expansion by launching in new European markets, as well as fuelling its growth in current markets. With a huge spike in interest for sustainability and online food, which is in line with Matsmart’s business, its largest challenge is to manage its growth according to Karl Andersson, Chief Executive and Cofounder of Matsmart. Ultimately, Matsmart’s goal is to significantly reduce the annual 88 million tonnes of food waste across Europe and the 10% of GHG emissions from food loss and waste globally. The online discount food store has seen its valuation double, with a pre-money valuation of EUR 150 million according to Breakit (Sifted, Mynewsdesk). 

What we’re reading

• Global warming of up to 2.7C by century’s end forecast as COP26 pledges fall short (Financial Times)
• Iberdrola calls for ‘national interest’ approvals for green energy projects (Financial Times)

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