Mundus Nordic Green News – 16 December, 2020

Denmark to cooperate with Germany on offshore wind

Germany and Denmark have pledged to cooperate on joint offshore wind power development, as a step towards achieving the EUs offshore wind strategy to increase Europe-wide capacity from 12 GW today to 60 GW by 2030 and to 300 GW in 2050. The cooperation would centre on energy hubs in the North and Baltic Seas. As part of its offshore strategy, the European Commission proposed that power generation assets at sea should form their own electricity market bidding zones, which set the price of the production there.

 

EUDP supports new energy technology with DKK 296 million kroner

Denmark’s Energy Technology Development and Demonstration Program (EUDP) has chosen to support 34 new projects focusing on green energy technology. The DKK 296 million goes, among other things, to heat storage in stone and biological Power-to-X.

 

Agilyx and Braskem announce collaboration to explore advanced recycling in North America

Agilyx Corporation, a subsidiary of Agilyx AS, a pioneer in the advanced recycling of post-use plastics, and Braskem, the largest polyolefins producer in the Americas and a leading producer of biopolymers, announced the initiation of a feasibility study to explore the development and construction of an advanced plastics recycling project in North America. The project aims to examine an efficient pathway to produce polypropylene using difficult-to-recycle mixed waste plastic, powered by Agilyx advanced recycling technology. 

 

Swedish pension fund stress-tests investments for science-based targets. Portfolio 48% overvalued.

According to calculations by Alecta, a Swedish pension fund, many of today's listed companies are overvalued. The companies in Alecta's equity portfolio currently account for emissions that are in line with a temperature increase of 2–3 degrees above the pre-industrial level. The result has been an eye opener for Alecta: If the price of carbon dioxide is set in accordance with Paris Agreement targets, the occupational pension company's equity portfolio loses up to 48% in value. CEO Magnus Billing says, "We get a lower market value for our holding relative to what the market indicates". He continued, "We have made an assumption about the price based on the UN climate panel and discounted it from 2040 until today. It will be a bit blunt because the companies' management will not sit still until 2040. But with this tool, we get the opportunity for rewarding dialogues with the companies. Can they pass on the increased costs to the customer, can they absorb the cost increase or do they have to change their business model? ”

 

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