The substantial carbon footprint associated with the Super Bowl, one of the most-watched sporting events in the U.S., is not primarily linked to travel or the show’s energy use. Interestingly, it’s largely attributed to the significant environmental impact of the Super Bowl advertising frenzy. 

The ads, which last in online promotions before and after the event, raise concerns among environmentally conscious consumers and investors. Unsurprisingly, climate experts emphasize the need to address the massive environmental impact of America’s most-loved and most-viewed sporting event. 

Big-Time Sporting Events and Their Giant Environmental Impact

The sport of football or soccer is highly entertaining. But what most fans or spectators don’t know is that the global football industry is responsible for emitting over 30 million tons of carbon dioxide annually. That’s almost equal to Denmark’s annual emissions.

Millions of Americans regularly tune into football games, especially major events like the upcoming Super Bowl LVIII, with last year’s viewership exceeding 99 million. The immense audience underscores the need for organizations to assess the environmental impact of these sporting events. 

Major sports leagues, like the NFL and NBA, can have a big influence over viewers. They can play a crucial role in promoting sustainability.

Large-scale sporting events often involve unforeseen environmental consequences. The construction of new infrastructure, sanitation upgrades, increased energy demands, and waste management challenges contribute to the overall impact on the environment. 

Watch parties hosted by viewers further add up to waste generation and travel emissions on a national level. 

According to an estimate, major sports leagues, including the NFL, NBA, NHL, and MLB, generate about 35,000 tons of CO2 annually, which covers fans’ emissions only. Think about the waste by the teams playing during the events. 

More notably, A-listers and celebrity fans of the big game also contribute significantly to its CO2 footprint by flying through their private jets. Popstar Taylor Swift is one great example, who has been the subject of intense scrutiny for her sky-high flight emissions.  

READ MORE: Carbon Footprint Controversy For Taylor Swift Ahead of Super Bowl LVIII

Additionally, the energy consumption to power stadiums, resource-intensive field maintenance, and the sale of food, beverage, and merchandise at games contribute significantly to the environmental impact of beloved sporting events in the United States.

And that even doesn’t include the biggest source of the Super Bowl’s carbon footprint – buzzy digital advertisements.

Super Bowl Ads Carbon Footprint

When advertisers calculate the expense of Super Bowl advertising, the immediate focus is often on the $7 million fee for a 30-second slot. However, what might be significantly overlooked is the environmental cost of the ads. 

Super Bowl Average Ad Cost, 2002-2021 (in million USD)

In 2021, Super Bowl advertising produced as much carbon dioxide as 100,000 Americans or around 2 million tonnes of CO2. This calculation is based on data from iSpot.tv, indicating that 56 advertisers and their 67 spots resulted in over 6.3 billion TV ad impressions, 26 million online views, and 64 billion social impressions. 

Some sources further noted that in the lead-up to the Super Bowl, there were a total of about 4 billion digital ad impressions. To put that in perspective, 1 million ad impressions is equal to 1 metric ton of CO2 or its equivalent. Using that data, the 4 billion ad impressions generated 4,000 metric tons of CO2e. 

In 2022, the top 15 ads alone generated nearly 470 million views, illustrating the substantial long-tail effect. Last year, the Super Bowl event garnered over 115 million viewers, recording over 3 million increase compared to the previous year. 

With all that said, the Super Bowl has been doing its best to make the sporting event “green” and sustainable. 

NFL Leading the Way to Sustainability

In 2022, the NFL, the Los Angeles Super Bowl LVI Host Committee, and Verizon collaborated on greening efforts for Super Bowl LVI. They aimed to enhance air quality, establish community gardens, bolster food security, and restore a California kelp forest. 

Last year, Super Bowl LVII, featuring the Eagles and Chiefs in Arizona, was one of the NFL’s most sustainable efforts yet. The football league has one of the greatest commitments to make the Super Bowl more sustainable. 

The league created the program NFL Green to address the environmental impact of their major sporting events. The initiative leads community projects that restore ecosystems and habitats. These include activities such as tree planting, wildlife habitat restoration, and reforestation projects to plant thousands of trees.

In addition to ecosystem restoration, green energy plays a significant role in NFL Green’s efforts. Annually, the NFL procures Renewable Energy Certificates (RECs) matching the total energy consumption at its events. This strategy enables the NFL to offset the energy usage and greenhouse gas emissions associated with its major sporting events.

RELATED: First NFL Team to Buy Carbon Credits

The NFL, in partnership with Arizonans, aims to achieve 92% waste diversion at the 2023 Super Bowl. Waste management has been a key focus, including recycling, composting, and minimizing landfill disposal.

Super Bowl and the Role of Carbon Credits 

Earlier this year, the Union of European Football Associations (UEFA), the football governing body in Europe, established a climate fund to address the sport’s massive carbon footprint. The $7.6 million fund will address the UEFA EURO 2024 kicking off in Munich on June 14.

The American Super Bowl LVIII committees and the NFL Green implemented the “Green Initiative” at the Las Vegas Indian Center. The initiative aims to plant trees and create green spaces and seedling restoration projects. Highlighting the impact of these efforts, Susan Groh from NFL Green said:

“The Super Bowl is here and gone, but when we are able to implement these greening projects throughout the community, it leaves a lasting legacy and just an impact that lasts for years to come.”

Apart from implementing sustainable practices to reduce its substantial waste and greening projects, the Super Bowl stakeholders are also using carbon credits to offset a portion of their emissions. For instance, Entergy and the Super Bowl XLVII Host Committee purchased carbon offsets to address flight emissions.

The credits are from various offset projects including a landfill gas collection in Texas, a forest conservation initiative in California, and an effort to capture methane from livestock manure in Michigan. The offsets have been certified to deliver the promised carbon reductions by the Climate Action Reserve. NFL is also doing the same when Houston Texans bought carbon credits to offset their air travel emissions.

Each credit bought represents a tonne of carbon emission reduction from specific offset projects, which can be nature-based or technological.

While the Super Bowl shines with sportsmanship and spectacle, its environmental toll is a wake-up call. From celeb jets to advertisement carbon emissions, sustainability is key. NFL’s strides show promise, but climate action must score big.

The post Beyond Touchdowns and Trophies: Unveiling the Carbon Footprint of Superbowl LVIII appeared first on Carbon Credits.

Many investors are puzzled by the plunging lithium stock prices, especially considering the anticipated long-term demand. Let’s look into why this is the case and what is the market outlook for 2024/25.

The Steep Decline in Lithium Prices

The current decline in lithium prices can be primarily attributed to the slowing growth of electric vehicle sales in China. This is coupled with the broader slowdown in the Chinese economy. 

Source: Trading Economics

As demand remains sluggish at previous pricing levels and supply surpasses demand, prices have inevitably fallen.

Lithium carbonate prices have experienced a significant decline in China. They dropped from a record high of $81,360 per tonne in November 2022 to $20,782 per tonne in the current month. This marks the lowest level in two years, reflecting a 67% decrease year-on-year. 

In response to the plummeting prices, Chinese refining companies are taking measures such as cutting production or suspending operations.

The sharp decline in lithium carbonate prices represents a nearly 75% correction. Market analysts attributed this to a series of negative catalysts that have suppressed lithium prices.

What Makes Lithium Price Volatile?

It’s essential to recognize that lithium stock prices have historically been volatile in the short term due to various factors. 

Lithium is a specialized commodity produced in limited quantities, making supply disruptions a significant factor in price fluctuations. Moreover, changes in consumer trends, particularly in consumer electronics and EVs, can swiftly impact demand and supply. 

RELARED: Lithium: The White Gold Powering up the EV Revolution

The lithium market is also influenced by geopolitical conditions and regulations, which can alter demand dynamics. Also, advancements in technology have introduced new extraction techniques, affecting total supply and prices.

There is also potential for increased involvement from major oil and gas companies. This is evidenced by recent statements from CEOs of Exxon and Chevron expressing interest in the lithium industry. 

Additionally, a large private energy company Lowry is advising is exploring investments in lithium assets to support the global energy transition.

Although China has historically dominated lithium supply from Australia, the rise of Western converters is expected to redirect more Australian supply to Europe and North America. This shift may challenge China’s market dominance as the Western supply chain expands.

Point in case is Canada positioning itself to contribute to meeting the North American lithium requirements. This is where a junior Canadian lithium company, Li-FT Power (LIFT: LIFFF), comes into play.

The company focuses on consolidating and advancing hard rock lithium pegmatite projects in Canada, especially in known lithium districts. Li-FT Power is committed to advancing the exploration and development of high-quality lithium assets in the country. 

Powered by Lithium: The Electrifying Role of EVs

Strategic investments to secure future lithium supply are on the rise. Major automakers and lithium producers are already committing over $1 billion in 2023 alone. 

For instance, GM invested $650 million in Lithium Americas, while Albemarle allocated $110 million to lithium developer Patriot Battery Metals. This trend is expected to continue as companies seek to safeguard their access to raw materials for batteries.

The EV market is still in its early stages, with significant room for growth. As EV penetration increases globally, demand for lithium will outstrip supply, especially as EVs become mainstream. 

Since batteries constitute a significant portion of EV expenses, this presents an opportunity for EV manufacturers to either increase profits per vehicle sold or, more likely, reduce prices to remain competitive as rivals do the same. Lower prices tend to attract more buyers, leading to increased demand for lithium. 

Consequently, as the current oversupply diminishes, the price of lithium is likely to rebound. This cycle of falling prices leading to increased demand, followed by a reduction in supply, underscores the cyclical nature of the lithium market. 

Short-Term Challenges and Long-Term Outlook 

Despite short-term volatility, the long-term forecast for lithium remains positive. Lithium is crucial for decarbonization efforts, especially in the EV sector. 

The global demand can surpass 2.4 million metric tons of lithium carbonate by 2030, doubling the 2025 forecast. BloombergNEF projects nearly a 5x increase in global lithium demand by the end of the decade, driven by rising battery demand for electric vehicles.

In the short-term, Goldman Sachs maintains a pessimistic outlook for lithium prices in 2024. The brokerage firm projects further declines compared to current levels. 

The broker anticipates this downward pressure in lithium prices this year due to oversupply. 

RELATED: Top Lithium Stocks Making Waves in 2024

Initially predicting a return to market deficit in 2024, analysts now suggest a longer timeline, with the lithium market potentially bottoming out in 2025. Thus, Goldman Sachs maintains a bearish view on the market, adjusting their 12-month targets downward for China Lithium Carbonate and CME Asia CIF Lithium Hydroxide.

Known for its accurate forecasts, Goldman Sachs estimates the following prices for 2024:

Lithium carbonate: $13,377 per tonne
Lithium hydroxide: $14,263 per tonne
Spodumene 6%: $1,250 per tonne

As per S&P Global estimation, lithium prices will start to stabilize beginning in 2025 as surplus narrows down. From there, prices would start to rise up again as seen below.

Amid current market challenges, the commitment to global net zero emissions by 2050 is expected to drive continued demand for lithium. More notably, long-term prospects remain strong fueled by growing EV adoption and global decarbonization efforts.

Disclosure: Owners, members, directors and employees of carboncredits.com have/may have stock or option position in any of the companies mentioned: LIFFF

Carboncredits.com receives compensation for this publication and has a business relationship with any company whose stock(s) is/are mentioned in this article

Additional disclosure: This communication serves the sole purpose of adding value to the research process and is for information only. Please do your own due diligence. Every investment in securities mentioned in publications of carboncredits.com involve risks which could lead to a total loss of the invested capital.

Please read our Full RISKS and DISCLOSURE here.

The post Why Lithium Prices are Plunging and What to Expect appeared first on Carbon Credits.

As the countdown to Super Bowl LVIII begins, Taylor Swift finds herself soaring not only in the charts but also in environmental debates. In recent weeks, scrutiny has intensified on American singer-songwriter’s footprint from her private jet travels.

An estimation shows that the popstar’s flight to the event, where her love interest Kansas City Chiefs tight end Travis Kelce would be playing, will pollute 14x the average American household emissions in one year.  

Swift’s sky-high carbon emissions from her private jets brewed interest at Chiefs games with her frequent travels. The pop culture icon joins a list of celebrities facing criticisms for private jet travel amid growing concerns about planet-warming carbon emissions. 

Taylor Swift’s Super Bowl Travel Footprint

The hitmaker, who broke chart records with her Eras Tour grossing over $1 billion, becomes even more popular because of her $40M-private jet’s emissions. This kind of transport is known to be the most polluting, creating a major challenge in global decarbonization efforts. 

Compared to other transportation modes, private jet emits 2 metric tons per hour per person. A U.S. domestic commercial flight releases just 0.04 metric tons of CO2.

Source: Beatriz Barros & Richard Wilk (2021). The outsized carbon footprints of the super-rich, Sustainability: Science, Practice and Policy. Graphics by BuzzFeed News.

Swift is the world’s most carbon polluting celebrity in 2022, per digital sustainability consultancy study. Their results show that Swift had flown 170 times since January that year, equivalent to 22,923 minutes in the air. 

RELATED: Taylor Swift Turns to Carbon Offsets for Her Sky-High Footprint

If the popstar attends the Super Bowl in Las Vegas, she would be coming from Tokyo where she’s on tour. That would mean flying over 19,400 miles in under 2 weeks via her private jet to support Travis Kelce. The Chiefs player is America’s most Googled NFL player in the run up to the big game.

The flights are estimated to emit more than 200,000 pounds of CO2, according to Gregory Keoleian. He’s a co-director of the Center for Sustainable Systems at the University of Michigan. 

That’s roughly 14x the average annual emissions of an American household, per data from the U.S. Energy Information Administration.

The controversy underscores the broader issue of the environmental impact disparities between the wealthy and lower-income individuals. And Swift isn’t the only A-lister to be spotlighted for globe-trotting.

In another analysis by The Guardian, 200 rich people, including business tycoons and celebrities, emitted over 415,500 tons of carbon from making over 44,700 flights in 2023. In perspective, that’s equal to the average annual emissions of 40,000 British people.

Included in the study are famous businessmen like Elon Musk and music veterans like The Rolling Stones. 

Professional Sports and Carbon Offsets

Taylor Swift’s Super Bowl flight emissions is just a fraction of the event’s massive carbon footprint. Think about the competing teams’ own travel emissions and that of the spectators’. Then add in the emissions of hosting the event, including the arena’s energy use and the accommodations’ emissions. 

More remarkably, the carbon footprint of the digital ads linked to the Super Bowl is huge. The 10 most popular ads for the most-watched U.S. sporting event stands at 422 tons of CO2. That’s roughly equivalent to 2,800 flights from Philadelphia to Kansas City. Both cities were part of last year’s Super Bowl LVII. 

Other major events, including the Olympic Games and the U.N. climate summit, also face criticisms for their significant footprint. All air travel contributes to climate change, with private jets notably producing much higher emissions per person. They emit at least 10x more carbon per passenger compared to commercial planes. 

In an era where a substantial carbon footprint is viewed as a reputational concern for public figures, celebrities and high-profile figures have taken substantial steps to address their carbon emissions and communicate these efforts to the broader public.

Swift opted to use carbon offsets to compensate for her private jet’s huge carbon footprint. Prior to the singer’s move, the Houston Texans of the National Football League (NFL) had also bought carbon credits to offset their air travel’s emissions. 

READ MORE: First NFL Team to Buy Carbon Credits

Carbon offsets are designed to help individuals and companies address their carbon emissions by supporting carbon reduction or removal efforts. Examples include tree planting and the use of technologies that capture carbon from the atmosphere.

While the details of Taylor Swift’s air travel emissions to watch Travis Kelce play at the Super Bowl LVIII remain to be seen, it could bring the most anticipated sports event’s environmental impact under more scrutiny. The Super Bowl’s colossal carbon footprint underscores the urgent need for sustainable practices in the arena of sports and entertainment.

The post Carbon Footprint Controversy For Taylor Swift Ahead of Super Bowl LVIII. appeared first on Carbon Credits.

The Integrity Council for the Voluntary Carbon Market (ICVCM) has achieved a new milestone, announcing its plan to assess over 100 active carbon credit methodologies for adherence to the high-integrity Core Carbon Principles (CCPs). 

The first decisions on these assessments are due by the end of March. 

An expert group, including members of the Integrity Council’s Governing Board, its Expert Panel, and external stakeholders, has categorized similar carbon credit methodologies into 36 different groups. The groups will undergo three types of assessments based on their complexity and issues.

It was in August last year when ICVCM released its long-awaited Assessment Framework.

Types of Assessments for Carbon Credit Categories

The Core Carbon Principles (CCPs), comprising 10 fundamental tenets for high-integrity carbon credits, are supported by detailed criteria outlined in the CCP rulebook. 

The issuance of high-integrity CCP-labeled credits could facilitate the flow of climate finance to Global South countries. This is essential in helping them achieve their national climate objectives. 

RELATED: ICVCM’s New Framework: Raising the Bar for Carbon Credits

These credits will enable buyers to identify and support top-notch projects that effectively reduce and remove emissions. Projects range from initiatives to safeguard and restore forests to the expansion of challenging-to-commercialize innovative clean technologies.

The Categories Working Group (CWG) has sorted carbon credits categories into one of three types of assessment:

Internal assessment: 

Categories covering 8% of carbon credits in the market will be assessed internally by the Integrity Council secretariat and members of its Expert Panel. This includes methodologies such as:

capturing methane from mines and landfill sites,
detecting and repairing leaks in gas systems,
destroying ozone-depleting chemicals, and
reducing emissions of sulfur hexafluoride.

Multi-stakeholder assessment:

Categories covering 47% of carbon credits in the market will be assessed by Multi-Stakeholder Working Groups. These categories, including renewable energy, efficient cookstoves, improved forest management, and REDD+ (Reducing Emissions from Deforestation and Degradation in Developing Countries), raise complex issues in specific areas.

Considered by the CWG to be very unlikely to meet the criteria: 

Categories covering 1% of carbon credits in the market, considered unlikely to meet CCP criteria, will be assessed once other evaluations are complete. These include new natural gas power, waste heat recovery, and industrial energy efficiency.

Major Programs Under Assessment

Programs have the discretion to exclude certain carbon credit methodologies from the assessment process. 

Verra, for instance, introduced its new REDD+ methodology for evaluation while omitting its prior REDD+ methodologies, constituting 27% of the market credits. The organization has put forth only the latest versions of methodologies for specific project types. They’re developing a pathway to facilitate projects transitioning to these updated versions.

Here’s the status of the major programs under assessment:

An additional 6% of methodologies have either been excluded by other programs or represent older methodologies covering a limited number of credits in the market. Unallocated credits in the market would be due to various reasons. These include data inconsistencies, projects utilizing multiple methodologies, inactivity of some methodologies, and the pending categorization of certain small methodologies.

Carbon-crediting programs commanding a 98% market share have sought approval to use the CCP label. The secretariat is concurrently evaluating these programs alongside the assessment of categories. 

Approved programs meeting the criteria will be authorized to display the CCP label on both existing and new credits from approved categories.

Annette Nazareth, Integrity Council Chair, said: 

“The Core Carbon Principles establish a global benchmark for high integrity. We know buyers are eagerly awaiting CCP-labelled carbon credits. We are keen to ensure the labels reach the market as soon as possible while ensuring that we properly consider complex issues and make the right decisions.”

Marching Towards Integrity

The Integrity Council anticipates revealing the outcomes of its assessments by March. The organization has dedicated web pages on its site tracking the progress of all categories and programs undergoing assessment. 

The Governing Board’s decisions, along with rationale, will be made public, accompanied by transparent explanations for any negative determinations.

It’s important to note that not all methodologies within a specific category may receive approval.

In cases where remedial action is necessary before program or category approval, or if approval is unlikely, affected programs will be notified. They will have the right to submit their input and participate in a hearing before any final decisions are made.

The Integrity Council’s efforts to instill integrity in carbon credits align with the Voluntary Carbon Markets Integrity Initiative (VCMI). VCMI focuses on ensuring integrity in credit use with the following claims type. 

VCMI Carbon integrity claims

The VCMI’s Claims Code of Practice provides guidance to companies on using credits to make credible claims regarding their progress towards net zero commitments, emphasizing the need to purchase credits meeting the CCP quality threshold.

READ MORE: Revolutionizing Carbon Credits: ICVCM and VCMI Team Up to Create High-Integrity Voluntary Carbon Market

More notably, governments and regulators are increasingly considering the ICVCM’s CCPs as an international standard for incorporation into their frameworks. In particular, the UK has expressed intent to endorse the CCPs and explore their integration into policies, regulations, and guidance. 

The Monetary Authority of Singapore is also actively exploring how to align its transition credits with the CCPs. In the US, the Commodity Futures Trading Commission has published draft guidance aligning carbon credit derivatives listings with the CCPs.

ICVCM reached a significant milestone geared to enhance the credibility of carbon credits, supporting climate finance in Global South countries and aiding buyers in identifying top-notch projects. The process involves internal and multi-stakeholder assessments, with approved programs displaying the coveted CCP label on their credits.

The post ICVCM Sets the Bar High with 100 Carbon Credit Methodologies Under Assessment appeared first on Carbon Credits.