In today’s Electrek Green Energy Brief (EGEB):
An electric charge point run on tidal energy has been installed on the Shetland island of Yell.
Climate Action 100+ has issued its first net zero ratings of the world’s largest polluting companies.
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Tidal power for EVs in Scotland
In the Shetland Islands, the northernmost part of Scotland, Nova Innovation‘s tidal turbines have powered homes and businesses for more than five years. Now, Nova has installed an electric vehicle charge point powered by tidal energy on the Shetland island of Yell – which Nova says is a first for the UK.
The charge point is at Cullivoe harbor, at the north of the island, near where Nova’s turbines are installed. It’s not a fast charger, but then again, Yell is only 83 square miles.
The Drive explains the power setup in the Shetland Islands:
The Shetland Islands aren’t connected to the main electricity grid of Great Britain, with supply managed from Lerwick on the Shetland “mainland” island and distributed to Yell and Unst via submarine cables. Improving the supply has already led big projects both in terms of renewable use — via Nova’s tidal turbines and other schemes — and grid storage to allow the islands to better balance their usage. Nova first started working on tidal power in Shetland in 2016, installing three 100kW turbines, so although the eVolt charger installed on Yell isn’t a fast charger, it’s not because of a limitation on the supply.
The Nova project received grant funding through Transport Scotland for the project. ICE vehicles are responsible for around a fifth of all carbon emissions in the UK. The Scottish government has banned the sale of new ICE cars by 2032, accelerating the need to develop new sources of clean energy to power vehicles.
Climate Action 100+ company ratings
Climate Action 100+ (CA100) has issued its first net zero company benchmark of the world’s largest polluting companies. CA100 works with 167 focus companies that account for over 80% of corporate industrial greenhouse gas emissions.
Climate Action 100+ is an initiative that aims to ensure the world’s largest corporate polluters take necessary action on climate change. CA100 consists of more than 570 investors that are responsible for over $54 trillion in assets.
Climate Action 100+’s net zero company benchmark is a “report card” with 10 indicators that can be read here. A red circle with an X means “no, does not mean any criteria”; an orange circle with a dash means “partial, meets some criteria”; and a green circle with a tick means “yes, meets all criteria.” You can look up any of the 167 companies by name or sector. Duke Energy, for example (click on the link), has two greens, four oranges, three reds, and one “not currently assessed.” The assessments are worth a look, as the reports are extremely informative and transparent.
If added together and treated as a country, the companies – including oil majors like Exxon, Saudi Aramco, and BP as well as Unilever – would be the third biggest emitter behind the United States and China, the group said.
Although 83 of the companies assessed have announced an aim of achieving net zero by 2050, around half of these commitments do not encompass the full scope of their emissions.
While 107 companies had set medium-term targets, only 20 met all the assessment criteria; of the 75 to set short-term targets, only eight did so.
The study found that less than 25% of the CA100 focus companies have an ambition to achieve net zero emissions across their full carbon footprint by 2050 or earlier. Further, just 10% of the companies are aligned with the Paris Agreement across their entire operations.
Arne Staal, CEO, FTSE Russell, said:
Ahead of COP 26 in the UK later this year, the Climate Action 100+ assessments launched… provide both investors and companies with a transparent and consistent approach to help track corporate ambition and progress toward net zero.
Danielle Fugere, president of environmental and social corporate responsibility nonprofit As You Sow, said:
These ratings allow investors to differentiate which companies are leading in aligning their businesses with the Paris Agreement’s 1.5 degrees Celsius goal, a critical indicator of future value, and those whose inaction portends growing risk to their companies and to the climate.
Photo: Nova Innovation
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