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Friday Five

13th Jan 2023

We're so excited to be on the list!

 

We know that this recognition is not just a nod to our potential, but also to our dedication to developing innovative solutions for a cleaner future. We're proud to be recognized by #cleantech experts and investors for our potential to deliver innovation that can change the future.

 

Circulor has been named in the 2023 Global Cleantech 100 by Cleantech Group. This is the second consecutive year Circulor has been included in this influential list which spotlights exceptional innovators with the determination and technology to race towards net-zero.

 

15,753 companies from 93 countries were nominated for consideration before being weighted and scored to create a shortlist of 330 companies reviewed by 81 members of an expert panel.

 

The Global Cleantech 100 program celebrates those businesses working on solutions for decarbonization challenges and critical material issues as they strive to build a more digitized, de-carbonized future. Find us on the list and read the full report at https://bit.ly/3W8CsKn

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US Green Subsidies Attract $2.5 Billion Investment from South Korea's Hanwha
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US green subsidies draw $2.5bn solar investment from South Korea’s Hanwha

Plant expansion by South Korean group in Georgia follows the passage of U.S. President Joe Biden's Inflation Reduction Act

The passing of the IRA (Inflation Reduction Act included significant incentives for clean energy such as solar. Senator Jon Ossoff of Georgia stated that one goal was to reduce America's dependence on Chinese products regarding strategic solar technology.

Hanwha Q Cells announced plans to expand its production capacity in the US by 8.4GW by 2024 with investments in wafers, cells and ingots; this is part of an overall trend of South Korean companies investing heavily in Georgia’s economy last year ($11.5bn). 

 

The Biden administration has also implemented curbs on imports from China due to concerns over slave labour practices. At the same time, John Podesta dismissed worries about international investment being siphoned away from other countries due its potential benefits worldwide through innovation and cost reduction for global goods related to clean energy sources.

 

Despite these developments, analysts do not expect an independent US supply chain anytime soon as demand outstrips current announcements made so far by large companies. Additionally, current materials used in solar panels made by Chinese-owned firms have a lower cost of production than American producers, leaving the US still dependent on imports from China and other countries for certain components.

World Economic Forum: Climate change, the cost of living crisis, and tech risks are the biggest threats to businesses.

A World Economic Forum (WEF) survey of global risk specialists found that failure to tackle climate change and environmental degradation dominates the ranking of top risks facing the planet in the next decade. 

The report considers three-time frames for understanding global risks: current crises (already unfolding), long-term (10 years) and mid-term futures (by 2030). 

Key findings of the report include the mounting impact of current crises on short-term global risk; newly emerging or rapidly accelerating economic, environmental, societal, geopolitical & technological risks in the long term; natural resource shortages by 2030 in a “polycrisis” scenario; perceptions of the comparative state of preparedness for these threats.

Current-day challenges such as rising cost of living, energy and food supply crunches, and heavy national debts threaten the collective will and cooperation needed to address these problems. 

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The report shows how current cost-of-living concerns are replaced by environment-linked risks over a 10-year period, with Failure to mitigate/adapt to climate change; natural disasters; biodiversity loss; natural resource loss & large-scale environmental damage dominating top 10 ranking for most severe global risks.  

WEF raised the prospect of ‘polycrisis’ - cluster-related risks with compounding impacts & unpredictable consequences which could be caused by big power resource rivalry or involuntary migrations, societal breakdowns etc..  

Businesses need to focus on investing in resilience against shocks rather than decades-long focus on cost reduction.

Nearly 9 out of 10 CEOs Believe Global Sustainability is at Risk due to Emerging Geopolitical and Economic Challenges, even as Business Leaders See Sustainability as a Top Priority
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87% of CEOs surveyed by Accenture and the UN Global Compact believe that progress on global sustainable development goals is at risk due to emerging geopolitical and economic challenges.

 

43% of CEOs reported that geopolitical instability has set back their businesses’ sustainability efforts, including 49% of SME CEOs. 

 

72% agreed they were responsible for their firms’ sustainability performance, compared to only 19%, while 98 % agreed the role of a CEO is to make business more sustainable.

63 % are launching a new product or service offering for sustainability; 49 % are investing in renewable energy & transitioning to circular models; 54 strengthening visibility into social impacts & 55 enhancing data collection capabilities; 34 reducing Scope 3 emissions& 33 incentivizing ESG outcomes in the value chain.  

 

Consumers remain the most often cited stakeholder group having a significant impact on businesses' sustainability management (68%), but governments taking a more significant role (52%) & investor community increased slightly (34%).

Automakers Slow Down Electric Vehicle Production Because EVs Are Too Expensive for the Majority of Motorists

The Advanced Propulsion Centre has reported that British and European manufacturers are slowing down the production of electric vehicles due to their high cost.

 

It is now forecasting 280,000 fully electric cars and vans in the UK by 2025 out of a total production of 1.1 million, compared with its earlier forecast for 360,000 battery-only vehicles out of one million.

 

The centre also noted that this trend is not limited to the UK market but extends across Europe as well; it expects 12 million units instead of 13 million due to rising costs and affordability issues. 

Additionally, it highlighted an uncertain geopolitical situation as a potential obstacle towards recovery in 2030 for BEV production levels to get back on track.

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