In his speech to the COP26 climate summit, Tuvalu foreign minister Simon Kofe showed the world what was at stake if it failed to decarbonize. He delivered his United Nations address in a suit, behind a lectern, knee deep in ocean water that was flooding his island as a result of rising sea levels. The survival of entire nations is the cost of inaction.
The need to reduce carbon emissions has been clear for at least a couple of decades, and more recently, a priority for a growing number of businesses and nations. Our company, Infosys, started our own decarbonization journey in 2008 and turned carbon neutral in 2020. For other businesses and sectors, this effort has been far more difficult. One critical industry, maritime shipping, is starting to find ways around those traditional barriers and take concrete steps to reduce its carbon footprint.
Maritime shipping accounts for about 3% of global carbon emissions. If it were a country, this sector would be the sixth-largest carbon emitter, just behind Japan. Aside from risk to coastal regions, carbon emissions have a direct impact on raising the ocean’s acidity and threatens marine biodiversity. Increased ocean acidity decreases the availability of carbonate ions that shellfish and corals rely on to build shells and skeletons for survival. These organisms play an important role in the food web by supporting tiny krill to enormous blue whales. The economic cost of ocean acidification is projected to reach over $300 billion per year.
Efforts to decarbonize pose risks, both environmental and economic, due to maritime shipping’s vital position in the global economy. About 80% of trade by volume and more than 70% by value is transported across water into ports worldwide. And maritime freight volume is projected to triple by 2050 as many countries strive to reach carbon neutrality.
As the industry tries to meet growing cargo volumes, firms will be faced with increasing pressure from regulators, partners, and clients. Amazon (world’s largest retailer outside of China) and Ikea (world’s largest furniture retailer) have pledged to use only maritime operators powered by zero-carbon fuel by 2040. Policymakers’ calls to decarbonize maritime shipping are adding to the pressure. To align maritime shipping with the Paris Agreement goals, the Aspen Institute has urged governments to commit to ambitious fuel targets, create new regulations, and implement market-based measures to spur innovation in fuel and technology.
Shipping companies are answering the call with ambitious efforts to both decarbonize and meet their expected service levels. For example, Maersk—the world’s largest container shipping company—has set a target to reduce carbon emissions 60% by 2030 and to be carbon neutral by 2050. The Getting to Zero Coalition, an alliance of 150 companies, is pushing for the development and deployment of zero emissions vessels by 2030. Shipping must use every tool at its disposal to decarbonize rapidly. Without action, their emissions would increase by a projected 250%.
Shipping companies are experimenting with hydrogen, methanol, and ammonia as alternative fuels. The rise in conventional fuel prices could be the pressure needed to drive operators toward alternatives. The trend toward larger vessels will also allow ships to reduce emissions per ton of cargo. These solutions offer improvement in carbon emissions but are not sufficient enough to meet international goals.
Batteries for auxiliary power, airfoil sails to capture free wind energy, or even alternative construction materials for containers and ships offer additional opportunities to lower carbon emissions. Beyond these physical changes, data and digital technologies play an essential role in maritime shipping’s efforts to decarbonize.
Sensors can capture the enormous amounts of data needed for maritime shipping to use to lower emissions. Digital technology will analyze, understand, and calibrate ship parts and operations to ensure the greatest possible efficiency. Sensors capture windspeed, water currents, and engine efficiency. Then, intelligent systems powered by machine learning move ships into the most energy efficient sailing positions.
Predictive analytics are able to combine operational, geospatial, and social data to chart and optimize routes—minimizing disruptions and maximizing efficiency. Connected systems share critical operational and feedback
By: Corey Glickman
Title: Decarbonizing maritime shipping
Sourced From: www.technologyreview.com/2022/02/22/1045301/decarbonizing-maritime-shipping/
Published Date: Tue, 22 Feb 2022 17:47:29 +0000
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LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Bitso, a leading cryptocurrency platform operating in Latin America, and the Mexican Football Federation (FMF), today announced the joint launch of the first collectible NFT of the Mexico National Team’s jerseys that was acquired in cryptocurrencies.
This morning through their social media platforms, the FMF and Bitso announced the opportunity to acquire the new official National Team fan jerseys ahead of the team’s participation in the 2022 World Cup. In just 20 minutes, the entire collection sold out.
The NFTs of the jerseys have an exclusive design for the metaverse – each is unique on the blockchain and can be resold by its owner in subsequent transactions.
The collection consisted of 100 official physical jerseys, each with a corresponding NFT version of the jersey that fans’ avatars can wear within the Decentraland metaverse. Each physical and NFT jersey set sold for the equivalent of $1,800 MXN in ethers.
“Our mission is to make cryptocurrency useful in the everyday life of Mexicans; we are committed to spreading the technology through innovative opportunities that help people throughout the country familiarize themselves with this new world. We are very excited to offer the incredible, historic opportunity for the fans of our National Team so that through their Bitso account, they can wear the colors of the National Team on and ‘off’ the field in the metaverse.”
– Bárbara González Briseño, General Director of Bitso México
Created by Bitso, the virtual jersey sports the official colors of Mexico and the new National Team shield, characteristics that will make it stand out when users wear it in the virtual world of Decentraland.
The post LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys appeared first on CryptoNinjas.
Title: LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Sourced From: www.cryptoninjas.net/2022/07/29/latam-crypto-exchange-bitso-and-fmf-launch-nft-of-mexicos-national-team-jerseys/
Published Date: Fri, 29 Jul 2022 15:19:02 +0000
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Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
EXMO, a crypto exchange platform operating since 2014, announced this week a rebranded visual identity with includes a new logo, brand colors, and design features. This new branding comes as EXMO continues to grow its crypto platform while also seeking to expand its presence in other jurisdictions.
Some new developments underway at EXMO:
Soon, users will be able to earn passive income from EXMO’s new staking platform.Plans to launch an EXMO crypto debit card.Expansion of its services in international markets with the opening of offices in Poland and Lithuania.
EXMO’s new logo
The rationale for the re-brand:
“At EXMO, we have a vision of a world where crypto is in every wallet. Hassle-free. We want to achieve this by making crypto as simple and accessible to everyone as possible. And we know that you already appreciate EXMO for offering user-friendly services and helpful support. Also for the opportunity to trade anywhere and anytime, closing deals in just a few taps. Such important changes required a rethinking of our corporate style, which has long needed a massive upgrade. So today we are introducing a new brand identity for EXMO with a completely new visual concept. We are launching a new logo, brand colors, and design elements. Our key design principles are simplicity, boldness, and a pinch of fun. But most importantly, we have changed our logo. Simple and easily recognizable, it represents the humanity of our brand. The logo stands out due to the wavy letter ‘m’ which symbolizes exchange rate charts and also resembles a spring that will launch you into the crypto world.”
– The EXMO Team regarding the re-branding
The post Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth appeared first on CryptoNinjas.
Title: Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
Sourced From: www.cryptoninjas.net/2022/07/26/long-running-crypto-exchange-exmo-unveils-lively-rebrand-amidst-growth/
Published Date: Tue, 26 Jul 2022 08:10:38 +0000
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Stitching together the grid will save lives as extreme weather worsens
The blistering heat waves that set temperature records across much of the US in recent days have strained electricity systems, threatening to knock out power in vulnerable regions of the country.
The electricity has largely stayed online so far this summer, but there have been scattered problems and close calls already.
Heavy use of energy-sucking air-conditioners is the biggest problem. But intense heat can also reduce the output of power plants, blow transformers, and force power lines to sag. Severe droughts across large parts of the country have also significantly reduced the availability of hydroelectric power, according to the North American Electric Reliability Corporation (NERC).
It’s unlikely to get better soon. A number of grid operators may struggle to meet peak summer demand, creating the risk of rolling blackouts, the NERC report notes.
The nation’s isolated and antiquated grids are in desperate need of upgrades to keep the lights, heat, and air-conditioning on in the midst of extreme weather events that climate change is making more common, severe, and dangerous. One clear way to ease many of these issues is to more tightly integrate the country’s regional grids, stitching them together with more long-range transmission lines.
If electricity generated in one area can be more easily shared across much wider regions, power can simply flow to where it’s needed at those moments when customers crank up air-conditioners en masse, or when power plants or fuel supply lines fail amid soaring temperatures, wildfires, hurricanes, or other events, says Liza Reed, a research manager focused on transmission at the Niskanen Center, a Washington, DC, think tank.
The problem is it’s proved difficult to build more long-range transmission and grid interconnections for a variety of reasons, including the permitting challenges of erecting wires through private and public lands across cities, counties, and states and the reluctance of local authorities to forfeit control or submit to greater federal oversight.
The case of Texas
The unreliability of the US grid is not a new problem. Severe heat and winter storms have repeatedly exposed the frailty of electricity systems in recent years, leaving thousands to millions of people without power as temperatures spiked or plunged.
One of the fundamental challenges is that the grids today are highly fragmented. There are three main electricity networks within the US: the Eastern Grid, the Western Grid, and the Electric Reliability Council of Texas (ERCOT). But there are numerous regional transmission organizations within those first two systems, including the California Independent System Operator, Southwest Power Pool, PJM Interconnection, New York ISO, and more.
These grids form a complex web of networks operating under different regulators, rules and market structures, and often with limited connections between them.
A variety of regional transmission organizations oversee different parts of the nation’s aging and fragmented grids, which operate under different rules and with often limited connections between them.
ERCOT is especially isolated, in part because of the desire among local politicians, citizens, and power companies to avoid added competition, the hassle of following other states’ rules, and oversight from the Federal Energy Regulatory Commission (FERC). But the state offers a case study in why that can be a serious problem amid increasingly harsh climate conditions, Reed says.
The Texas grid operator pleaded with customers several times earlier this month to cut electricity use as blistering summer temperatures created demand surges that threatened to outstrip supply and require rolling blackouts. Low wind conditions, cloud cover, and outages at fossil-fuel power plants added to the strains.
Shutting off the electricity needed to run air-conditioning in triple-digit temperatures
By: James Temple
Title: Stitching together the grid will save lives as extreme weather worsens
Sourced From: www.technologyreview.com/2022/07/28/1056483/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/
Published Date: Thu, 28 Jul 2022 08:00:00 +0000
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