Mundus Nordic Green News – 5 October, 2020

Skandia to reduce investments in fossil fuels by 75%

Swedish pension company, Skandia is launching a climate roadmap that will reduce Skandia Life's holdings in fossil fuels by 75% by 2025. According to Skandia's asset manager, Lars-Göran Orrevall, the global economy is facing a major change and our portfolio will be stronger through the change and be able to contribute to climate change. The roadmap also means that Skandia is making a major investment in sustainable and fossil-free funds, and will mean a doubling of green investments. Skandia has also made an active decision to exclude 25 companies in fossil energy. Among the 25 companies are companies such as Exxon Mobil, Chevron and ConocoPhillips.

 

Ørsted and Yara will develop green fertilizer in the Netherlands

Denmark’s Ørsted and Norway’s Yara have joined forces on a project in which fossil hydrogen will be replaced by renewable hydrogen in the production of ammonia at a plant in the Netherlands. The green ammonia is intended to be used in the production of carbon neutral fertilizer products, decarbonizing the food value chain, and also has potential as a future climate neutral shipping fuel. If sufficient public co-financing is ensured, and if the regulatory framework falls into place, a final investment decision on a construction of the plant can take place in about a year, with a ready-to-operate plant in 2024/2025, according to Ørsted        .

 

Swedish battery company takes out large EIB loan

For once its not Northvolt. The Swedish battery company, Nilar, a maker of hydride batteries, has taken out a loan of €47 million from the European Investment Bank. The loan, which is part of the EIB's and EU Commission's Innofin energy demonstration project, will enable the company to upgrade its facility in Gävle and increase the production of its battery system. In 2019, Nilar reported net sales of a modest SEK 10.4 million, while the operating loss landed at just over SEK 221 million. But Marcus Wigren, CEO of Nilar, said that for 2020 he expects sales to more than triple compared to the previous year.

 

Helsinki is among the first to sign the Declaration of European Circular Economy Cities

The City of Helsinki, together with other European cities, has signed the European Circular Cities Declaration. The declaration was unveiled on 1 October at the 9th European Conference on Sustainable Cities & Towns. Other signatories to the Declaration include Oslo, Malmö, Copenhagen, Seville, Tirana, Prague and Ljubljana.

 

Vantaa Energy will give up fossil fuels in 2026

Vantaan Energia is one of Finalnd’s largest energy providers. Last autumn it made the decision to give up coal in 2022. Now the company is taking the leap to completely give up fossil fuels in the Vantaa area by 2026.

 

HYBRIT's next step supported by the Swedish Energy Agency

The Swedish Energy Agency has granted HYBRIT Development AB part financing of SEK 22 million for a study to clarify the conditions for the demonstration facility. The study will, among other things, shed light on design, plant design, technology selection, logistics solutions and not least location.

 

Swedish food manufacturer “sells emissions portions”

Felix has launched the "Climate Store", where products are priced and labelled on their CO2e emissions. The company states that in order to halve their climate impact, customers would need to keep to a weekly budget of 18.9 kg CO2e. The store is part of Felix’s long-term work to highlight the connection between grocery products and their climate impact. 

 

Sweden increasing its contribution to climate action in developing countries

Sweden has committed to supporting the efforts of developing countries on emission reductions, climate adaptation, capacity-building and technology transfer. Since 2014, the Government has more than tripled its climate aid to developing countries, according to a press release. In total, Swedish climate financing in 2019 amounted to SEK 7.5 billion of which SEK 2.3 billion went to climate adaptation measures, SEK 1.1 billion to emission reduction measures and SEK 4.4 billion to cross-cutting financing (i.e. both emission reductions and adaptation).

 

Södra opens biomethanol plants in Mönsterås

Södra, one of Sweden’s biggest forestry companies is opening a biomethanol plant on October 7. The plant, a first of its kind in Sweden, will produce methanol for a variety of applications, including as transport fuel. The plant will be inaugurated by the Minister of Trade and Industry Ibrahim Baylan in the presence of Professor Johan Kuylenstierna, of the Climate Policy Council, and MEPs and representatives from Södra, academia and business will also participate in the inauguration. The broadcast starts at 1pm

 

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