Mundus Nordic Green News – 21 October, 2020

Comments on Finland’s parliamentary debate on climate action

Last week, the Finnish Parliament discussed the annual climate report, which monitors the development of our country's emissions and the implementation of the medium-term climate policy plan. According to the report, for Finland to achieve carbon neutrality by 2035 it will require further more effective action. In particular, there is a need for policy coherence, ie for climate to be a cross-cutting theme in all decision-making.

 

Merja Mäkisalo-Ropponen, a Social Democrat Member of Parliament writes that the debate highlighted the lack of a consensus even on whether action should be taken at all, with some believing that all resources should be directed to rebuilding after corona. She says that special care must be taken to ensure that the green transition means sustainable employment growth and everyday well-being for Finland, while supporting the operating conditions and competitiveness of Finnish companies. 

 

Microsoft in deal with Equinor for Norway CO2 storage project

Microsoft Corp has signed a MoU with Equinor to explore the use of a CO2 storage facility as the tech firm seeks to erase its carbon footprint. In January Microsoft pledged to remove enough CO2 by 2050 to account for all its emissions since its founding in 1975 and to invest $1 billion in a carbon removal technology. Microsoft will now become a technology partner in the Northern Lights project joining Shell and Total in a Norwegian effort to develop carbon capture technology at industrial sites and store CO2 under the seabed. Microsoft President Brad Smith said “Our goal is not only to contribute our technology and know-how but explore how new solutions like the Northern Lights project can help us meet our own carbon negative goals by 2030” .

 

Vestas turbines for Saudi Arabia's first wind farm have arrived

Saudi Arabia is shifting its energy production from fossil fuels to wind and solar energy. The most recent milestone in this transition is the arrival of the first 20 Vestas turbines for Dumat Al-Jandal, Saudi Arabia's first major wind farm. Each of the 4.2MW wind turbines, has a hub height of 130 meters and a rotor diameter of 150 meters.

 

Sweden’s e-vehicle fund runs out of money (temporarily)

The Swedish Transport Agency has stopped paying bonuses to those who buy green cars as funding has run out according. The agency expects a supplement to the bonus funds according to the government's autumn amendment budget. In Sweden, cars with a carbon dioxide emission of less than 70 grams per kilometer are entitled to a climate bonus of a maximum of SEK 60,000. The bonus is paid out no earlier than six months after the registration date. This year's appropriation for the purpose - SEK 1.8 billion - has been used up.

 

H&M to let people convert old clothing items into new ones at Stockholm store

H&M is giving consumers at a Stockholm store the option to turn in used garments that it will then be transformed into one of three different clothing items. Customers will be able to bring in a garment they don't want, which is cleaned and put into a machine called Looop. The machine will disassemble it, shredding it into fibres that are then used to create new clothing. The company said the recycling process, which can handle more than one garment at a time, doesn't use water or chemicals and sometimes might need "sustainably sourced" raw materials added in, but it hopes to make "this share as small as possible." Initially customers can choose one of three items to be made -- a sweater, a baby blanket or a scarf.

 

BESTSELLER announces a new collaboration with Renewcell

Fashion company BESTSELLER has announces a new collaboration facilitated by its ‘Fashion FWD Lab’ with Swedish innovator Renewcell, which is pioneering a sustainable and circular recycling method. Three BESTSELLER brands - VERO MODA, OBJECT and SELECTED - are amongst the first fashion brands to produce garments at market scale from Circulose® recycled material. The Circulose® fibres have been spun into yarns and the fabric has just been finished, ready for production. An exclusive and limited edition of styles will be available in certain stores worldwide in Spring 2021.

 

Scatec Solar raises 4.75 billion: Equinor declines to participate

Norway’s Scatec Solar has completed a capital raising of NOK 4.75 billion, according to a stock exchange announcement. Around 20.65 million new shares were subscribed for at a price of NOK 230, a discount of 6.48% against Tuesday's closing price. However, Scatec's largest owner, Equinor, chose not to participate in the issue.

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