Seafood Giant Sealord Invests $6M in NZ Forest Carbon Offset Project

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One of New Zealand’s largest seafood companies, Sealord, is going to invest almost US$6M in a forest carbon offset project involving Māori landowners.

Sealord partners with Te Arawa for over the next 10 years to transform underutilized land in Rotorua to native forest. The forest carbon offset program is courtesy of the partnership between Te Arawa Fisheries and New Zealand Carbon Farming (NZCF). 

The project will help offset some of Sealord’s carbon emissions, maximize the potential of marginal land, and create jobs. They also expect to see improved local environment conditions through the program, including water quality in Te Arawa lakes. 

A $9.5B Carbon Trading Opportunity for NZ

According to Te Arawa Fisheries CEO Chris Karamea Insley, the offset project showcases the potential opportunities that carbon trading provides. It also highlights the role of the country’s major companies to support the nation’s climate goals.  

New Zealand aims to reach net zero emissions by 2050, same as most countries seek.

Insley continues to say that:

“The Emissions Trading Scheme represents a $16 [NZD] billion economic opportunity for Māori – one which will be transformative for generations… to generate better economic, cultural, social and environmental outcomes…”

The agreement is Aotearoa’s (referring to NZ) leading climate change strategy, respecting the Māori principles, customs, and protocols. Māori are the second-largest ethnic group in New Zealand.

The fisheries organization further believes that the new initiative will help Sealord address its carbon pollution while driving financial benefits for the (Māori) clan. And by creating new jobs and improving water quality, it’s a win-win-win deal for everybody, Insley further noted.

Speaking for Sealord, their CEO Doug Paulin remarked that the carbon offset project supports the company’s sustainability efforts. It also helps them in meeting their carbon reduction goals. 

Sealord Carbon Emissions and Reduction Efforts

According to Paulin, Sealord has already lowered its total carbon emissions by around 24% since 2019. This reduction was achieved through various means, including fuel optimization, investing in new vessels, and cutting use of fossil fuels in land-based operations. 

Sealord New Zealand Operations Carbon Footprint

Vessel fuel is responsible for almost 94% of the Sealord’s carbon emissions. And since its baseline year (2019), the company was able to remove only over 25,200 tonnes of CO2e (equivalent) from its NZ business operations. That effort translates to removing >5,000 cars off the road.

NZ’s seafood giant aims to reach net zero emissions by 2050. Apart from its NZ business, the company is also managing its carbon emissions from its aquaculture farms in Australia. Factoring its Australian operations footprint, Sealord’s total carbon emissions per scope is as follows:

Sealord Group Total Carbon Footprint

Majority of this footprint, 95%, is from NZ business operations. Fossil fuels burned by their fishing vessels account for more than 90% of the company’s scope 1 emissions. 

Sealord acknowledges that reaching their carbon emissions targets remains a challenge given the limited options available within their operations. This is where carbon offsets serve as the company’s final option in mitigating their climate impact, the CEO further noted. 

Specifically, Paulin said that while they’re waiting for new engine technology and fuel sources to be developed and viable:

“…we have made the decision that we must invest now to enable Sealord to have options in the future so we can meet our carbon commitments.”

They find that investing about $6 million in Māori-managed forests in New Zealand offers them a way to offset emissions. 

Forest Offsets Create Local Investment and Development

The New Zealand Carbon Farming will manage the forestry offset project and the physical planting of trees. As per the organization’s director, the carbon offset deal offers opportunities for tackling climate change and biodiversity loss issues collaboratively.  

It also raises the chance to manage a forestry project that aligns with Mātauranga Māori or Māori knowledge in establishing best-practice for forest management. 

The Māori people have extensive experience in nurturing exotic or native crops and transitioning them to a biodiverse native environment. So, enlisting their help and support would be important in the project.

The forest carbon sequestration will also unlock new doors for local development and investment, NZCF further noted. 

The carbon offsets, also known as carbon credits, will provide revenue streams for the developer and the local community involved. In this case, the Māori tribe. Each carbon offset credit represents a tonne of carbon removed or sequestered through trees, or any other element.

Despite current criticisms thrown at nature-based carbon offsets, the partnership between Sealord and Te Arawa shows that large companies continue to find these offsets a sound and reliable option for their climate pledges. It further demonstrates that it’s possible for large businesses and local tribe landowners to work together to bring positive impact for the people and the planet. 

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Sailing Green With Sunreef’s Zero-Emission Hydrogen Superyacht

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Sunreef Yachts gave seafarers a better look at its revolutionary Zero Cat concept, a catamaran that sails on hydrogen and produces its own power. 

Sunreef Yachts is leading the market for semi-custom luxury catamarans while establishing itself as a key player in eco-friendly and sustainable yachting. The Polish yard first teased sailors with its hydrogen and solar powered catamaran last July. 

Carbon-Free Luxury Sailing

Yachts have long been the symbols of the luxurious lifestyle of the rich and wealthy. But as concerns about climate change continue to intensify, questions arise on how yachts impact the environment. 

A superyacht like the Zero Cat is usually defined as a privately owned vessel with at least 78 feet in length. And there are over 9,300 of these vessels sailing on the oceans that’s valued at more than $54 billion. 

Along with ships, superyachts contribute significantly to carbon dioxide emissions, which are often overlooked as they’re released at sea. 

According to industry data, a superyacht emits more than 7,000 tonnes of CO2 a year – considering it has a helicopter pad, pools, and submarines. To put that in perspective, the emission is over 1,500x more than how much a family car emits. 

With this data, maritime construction yards are also put under the spotlight by environmentalists to do something about their pollution. 

Sunreef acted fast by introducing its revolutionary superyacht concept – the Zero Cat. It just released the first renders of this highly awaited multihull. 

Zero Cat is a 90-footer yacht that is capable of producing its own fuel while sailing on the high seas for “unlimited autonomy.” It sports sleek and clean lines as common with Sunreef models but features a more sculpted stern. 

The concept yacht has stairways at the back of each hull, leaning toward the water, and a wraparound lounge at the outside helm. It also appears to have an alfresco lounge.

With this sleek superyacht design, Sunreef’s goal is to develop a sustainable sailing yacht with self-sufficient and unlimited range non-sail propulsion. 

At the heart of this zero-emission luxury catamaran is the green energy that sets it apart from other superyacht models. 

Zero-Emission and Safe Hydrogen Fuel Cell 

According to the yard, Zero Cat runs on an engine that uses a hydrogen fuel cell which powers the superyacht. It also comes with a reformer that can transform methanol into hydrogen.

Image source: Sunreef Yachts website

The fuel-cell system producing clean energy will electrically power the propulsion as well as the hotel load, Sunreef said. With this green technology, the catamaran will generate no carbon emissions and oxides.

Without an engine powered by burning oil, the superyacht will also sail with little noise and vibrations for a quiet and smooth ride. 

What’s more unique about Zero Cat is its ability to create additional green energy through its hydro generators and solar cells, which Sunreef refers to as a “solar skin”. 

The solar skin is not unique to the concept yacht but has been on Sunreef’s other models. It’s wrapped around the superyacht’s bodywork and can continuously produce solar energy so long as the sun shines. 

There’s also a bonus in sailing with Zero Cat: no need for high-pressure hydrogen storage on board. It means yachting would be safe, as opposed to the hydrogen stigma created by the 1937 Hindenburg crash.

And that stigma seems to be erased now that hydrogen fuel cells are hitting the market big time. 

Not only is the hydrogen-powered system getting attention in maritime but is also gaining traction in road fleets.

A leading company focusing on zero-emission vehicles, First Hydrogen Corp., shocked the market with its unbeatable fuel-cell EV (FCEV) trial results. The company’s FCEV vans trial with SSE Plc cleared 630km of range, almost double that of traditional EVs. The hydrogen vehicles also boast a 5-minute refuel time, similar to gas-powered vehicles. 

With its massive success in the first trial, First Hydrogen will open up fleet trials to additional commercial opportunities. This is in response to growing interests from parcel delivery or logistics companies wanting First Hydrogen’s FCEV for express deliveries. These operation trials will start soon late Qtr 3 and Qtr 4 this year. 

The demand for zero-emission vehicles and vessels has started to spike as governments and companies worldwide are racing to net zero emissions. And hydrogen fuel cells offer a promising solution for a cleaner and greener power source.

Sunreef Yachts still has a lot to do before its Zero Cat concept becomes a real superyacht sustainably sailing. But by combining hydrogen energy and other renewable power sources on board the yacht, it holds the promise for a luxurious but carbon-free getaway on the sea.

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Gabon Shakes Emerging Debt-for-Nature Swap Market

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The recent coup in Gabon has sent shockwaves through the financial world, particularly affecting an innovative debt-for-nature swap deal. 

Just two weeks before the political turmoil, Bank of America Corp. had finalized a $500 million agreement with Gabon. The African nation had agreed to undertake marine conservation efforts in return for more favorable loan terms.

Debt-for-nature or climate swaps are deals that allow a country to restructure its debt at a lower interest rate or for longer repayment periods. And that’s in exchange for the debtor’s commitment to fund conservation or climate-related initiatives.

The Safety Net 

The Gabon deal was unique because it included a political risk insurance contract from the US International Development Finance Corp. (DFC). This insurance serves as a safety net for creditors in case Gabon defaults on its loan or fails to meet its conservation commitments. It’s a key feature that attracts investors who usually steer clear of emerging markets. 

Thys Louw, a portfolio manager at Ninety One, described the situation as “untested,” especially in the wake of the coup.

Soldiers in Gabon seized power following disputed presidential elections, causing a record drop in the country’s mostly junk-rated international bonds. 

However, the bonds tied to the debt-for-nature swap, which are rated Aa2 by Moody’s Investors Service, have been more resilient.

Despite this, there’s a cloud of uncertainty hanging over Gabon’s ability to fulfill its end of the bargain, both in terms of debt repayment and environmental conservation.

Stakeholders are now in a frenzy, trying to gather more information about the implications of the coup. Both Bank of America and Gabon’s environment minister have remained tight-lipped, while the soldiers who took control have vaguely promised to honor all international agreements. 

Bianca Shead, a spokesperson for The Nature Conservancy, emphasized the organization’s commitment to monitoring the situation closely, given Gabon’s ecological importance.

Since 2016, the organization has organized three debt-for-nature swaps which involved the Seychelles, Belize and Barbados. For these deals, the organization had converted over $500 million of debt into $230 million of money for conservation.

Before the Gabon deal, Credit Suisse was the dominant player in the debt-for-nature swap market. Now, other global banks like HSBC and Citigroup are showing interest, with analysts estimating the market’s potential to reach $800 billion. 

However, these deals are not without their critics. Questions have been raised about whether they truly meet the “blue” label standards for marine conservation.

A Wake-up Call

Sebastian Espinosa, managing director at White Oak Advisory, called the coup a wake-up call for the industry. He cautioned that countries with unstable political or economic landscapes might not be reliable partners for long-term environmental commitments. 

Gabon had announced plans to enter the debt-for-nature market in October last year. 

Apart from the African nation, many other developing countries have expressed their intent to also enter the market. For instance, the island nation of Cabo Verde has plans to do a debt-for-climate swap. Colombia also considered this kind of climate financing in exchange for protecting its Amazon rainforest. 

At the COP27 summit, several others have shown interest in supporting climate swaps, including Gambia, Pakistan, and Kenya.

However the emerging market for debt-for-climate swaps is a niche because of the high transaction costs involved. Plus, there’s a need to closely monitor the projects and debtors must have a long-term commitment to the scheme.

Gabon’s first coupon payment is due on February 1, and if missed, it could activate the DFC insurance, subject to arbitration. As seen in the nation’s bond prospectus, the DFC “will insure 100% of a loss”, which is around $522 million. This coverage includes the full amount of principal and interest.

In conclusion, the coup in Gabon serves as a stark reminder of the risks involved in innovative financial instruments like debt-for-nature swaps. It underscores the need for investors and stakeholders to conduct thorough risk assessments and due diligence before diving into such deals. 

With billions of dollars and crucial environmental commitments at stake, the Gabon situation could very well be a watershed moment for the emerging debt-for-nature swap market.

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Shell Scraps Its $100M Carbon Offset Plan

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Europe’s biggest oil major, Shell PLC, secretly ditched its plan to spend $100 million a year on carbon credits, which is the largest offset program among corporations, after 6 months its new chief executive officer Wael Sawan took office.

In June, Sawan announced a major shift in Shell’s strategy – to maintain its current level of oil production until 2030, not to reduce it as initially declared, while reducing costs and increasing shareholders profits. 

What the CEO missed to reveal at the time is the energy giant’s plans for investing in carbon credit projects. These credits are part of Shell’s offsetting program in line with its 2050 net zero emissions goal. 

Finding Carbon Offsets that Meet Quality Standards

Shell has made a commitment to cut Scope 1 and 2 emissions by 50% by 2030 and reach net zero by 2050. It managed to reduce total emissions from all scopes (Scope 1, 2, and 3) in 2022 compared to 2016 levels. 

At a glance, here’s Shell’s climate target summary with actual achievements in 2022. 

A big part of the oil major’s carbon reduction strategy is the use of carbon credits to offset emissions. 

Originally, Shell aimed at spending $100 million each year on carbon offsets. The oil company also targeted to generate 120 million carbon credits yearly by 2030 from natural carbon sequestration projects. These targets would have offset about 10% of Shell’s carbon emissions.  

But with the company’s recent revelation, they confirmed that they’re putting an end to those plans. However, the company hasn’t revealed publicly any new plans for carbon credits or how they now intend to meet their climate targets. 

According to Shell, those prior goals weren’t attainable due to the lack of carbon offsets that meet its quality standards. 

Carbon offsets from nature-based projects were criticized for not delivering the environmental benefits they promised to bring. 

Shell’s previous intent to build a robust pipeline of carbon credits was inspired by research saying that nature-based sequestration can suck in enough carbon to limit global temperature rise. This finding and the growing pressure for corporations to reduce their carbon emissions prompted Shell to consider carbon offsets.

Meanwhile, other large companies and Shell’s oil major peers are also relying on carbon credits to offset their unabated emissions. Estimates show that the voluntary carbon market can hit $950 billion by 2037, a whopping increase from today’s $2B value.

But the Royal Dutch oil giant has been struggling to find carbon offsets that meet its stringent quality requirements. 

As per Flora Ji, a veteran handling the firm’s nature-based solutions (NBS), the market didn’t put high regard to quality before. She further said that: 

“The quality, integrity and responsible use of credits: these are the prerequisites to the credibility and sustainability of the carbon markets.”

Recently, key carbon standard organizations have published a fundamental framework that defines high-quality carbon credits.

Hitting Shell’s Net Zero Target

Shell is known to employ strict standards when it comes to developing and investing in nature-based climate solutions. The oil major has been supporting diverse NBS initiatives from reducing deforestation to tree planting to grasslands projects. 

While Shell is a large supporter of carbon offsets, it’s not the only major player in the field. Other oil giants have also started to develop their own carbon credit projects and pipelines. Chevron, TotalEnergies, BP, Equinor, and Eni are some of the major companies investing in carbon offset credits. 

However, it’s not clear if they will follow the same offsetting scale that Shell originally planned. 

In comparison, French oil major TotalEnergies was able to earn less than 7 million credits last year. The company seeks to generate 45 million carbon credits by the end of the decade. That’s only about ⅓ of Shell’s obsolete offsets target. 

Despite the move to ditch its carbon offsets goal, Shell remains committed to its net zero emissions target. In fact, the company’s spokesman remarked that their “sustainability and climate targets remain”.

As what Ji has also confirmed, Shell’s long-term approach to carbon reduction toward net zero follows the Science-Based Targets initiative. That means avoiding emissions first and reducing them before resorting to carbon offsets. 

If Shell stays loyal to its net zero pledge, it will still need carbon offsets eventually, according to BloombergNEF analysis. The Dutch energy giant will be needing the offset credits for the residual emissions on its way to net zero.

Indeed, Shell is not totally abandoning its carbon offset efforts; only the $100M and 120M credit targets. Ji noted that the oil major may buy carbon credits from the VCM to increase its stocks of offsets. 

And though it’s prioritizing its short-term goal of maximizing profits, it has yet to disclose new plans for its long-term climate targets. 

This revealing news leaves a major question to many – what comes next for Shell’s carbon emission reduction strategy? Will it pivot to technological carbon removal instead? That’s what speculators have to watch out for.  

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DOE to Grant $500M Funding to New Carbon Transport Infrastructure

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The Biden administration has been promoting carbon capture and storage (CCS) technologies to reduce carbon emissions, and a big part of this effort is the Department of Energy’s plan to provide $500 million in grants for companies building carbon transport infrastructure.

The Department issued a notice of intent to fund the construction of new carbon capture facilities with money coming from the Bipartisan Infrastructure Law. It aims to announce this massive funding support in the 4th quarter. 

The Pipeline Leading to Net Zero

The United States, under the Biden-Harris government, has set a 2050 net zero emissions goal. Achieving it needs massive efforts “to capture CO2 emissions from industrial operations and power generation and to remove CO2 directly from the atmosphere,” says the Energy Department.

A key to support the rapid development of CCS is a safe and effective system of CO2 pipelines that will transport the captured gas to its designated storage. It can either be underground in rock formations or in facilities that convert CO2 into valuable products. 

Startups have been using captured carbon in making products such as fashion bags and fuels.

Cementing its support for the CCS, the DOE will provide $500 million in subsidy through its Future Growth Grants. Under the program, the Energy Department will give a CCS developer a payment or a share of the cost difference needed to boost its project’s capacity. 

The subsidy is a fraction of the total $2.1 billion allocated to support the DOE’s carbon transportation infrastructure funding program. The funding covers a 4-year support from 2022 to 2026.

The Future Growth Grants

The goal of the DOE’s Future Growth Grants is to promote carbon transport developers to construct the infrastructure. They won’t be necessary initially but they would eventually be required as direct air capture and other storage facilities operate. 

The Department further noted that these upfront investments for “oversizing” transport capacity is for accommodating potential future carbon supplies. 

The additional capacity from the grant may prevent future development of carbon transport networks that would be redundant. Building this infrastructure today as carbon capture projects like DAC are being scaled up would be timely. The pipelines and networks can start synchronically once DAC plants start to operate and hence, the future growth grants.

Carbon dioxide removal or CDR is crucial to meeting the 2050 net zero goals. The Energy Department estimated that between 400 million and 1.8 billion metric tons of CO2 annual removal is necessary.

So far, the country’s existing CO2 transport infrastructure can remove only 60 million Mt each year. But as more projects starts, that capacity will increase to 250 million Mt/year by 2034 and 450 million by 2040. 

Though current pipelines and other CO2 transport infrastructure aren’t eligible for the subsidy, repurposing them to create new capacity is qualified.

A major qualification for the funding is that the infrastructure must be: “physically connected by way of pipeline, rail, road, and/or body of water”.

Once the funding program is announced, qualified projects should be finished within 5 years as authorized by the Department. Funding applicants must show that their projects would be useful or can be used for twenty years. 

Promoting Carbon Capture in Billions

The DOE’s $500m funding program is part of the current government’s efforts to support and advance emerging CCS technologies. These engineered carbon removal technologies are seen relevant in decarbonizing the power sector and the heavy industries. 

The Energy Department’s most recent funding support for CDR and CCS projects was revealed earlier this month. 

The agency announced that it will provide $1.2 billion in grants to 2 large DAC projects on the Gulf Coast, one is run by Climeworks and Heirloom and the other is to be developed by Oxy, subsidiary of Occidental Petroleum, and Carbon Engineering. This investment is the first of 4 DAC hubs that the department will support through its $3.5 billion subsidy program.

The DOE also announced that it has invested over $13 million in 23 projects to support R&D for CCS. Earlier this year, the Department also rolled out over $2.5 billion to fund 2 carbon capture initiatives.

The US government’s commitment to CCS is reinforced with the DOE’s $500M grant plan, aimed to develop carbon transport infrastructure. With this substantial funding and focus on carbon removal technologies, the country is taking major strides toward achieving its ambitious net zero emissions goal.

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Forging Trust for Carbon Removal: Carbonfuture and Puro.earth Collaborate to Scale CDR

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Carbonfuture, the pioneering end-to-end platform for carbon removal credits, has partnered with Puro.earth, a leading carbon removal standard and registry. Their goal is to further scale up durable and high-quality carbon dioxide removal, commonly known as CDR. 

Partnering with Puro.earth will allow Carbonfuture to grow its ecosystem of 3rd-party standards for carbon removal. It will also enable the company to integrate Puro.earth certified projects into its unique Trust Infrastructure.  

From Gate to Grave: Pioneering Trust in Carbon Removal

As the Trust Infrastructure for durable carbon removal, Carbonfuture is providing crucial tools and technological infrastructure needed to scale CDR with trust. The company works through a Trust Framework outlining the 5 key dimensions of trust – transparency, quality, impact, innovation, and collaboration.

Carbonfuture’s Trust Infrastructure includes two essential components: Carbonfuture MRV+ and Carbonfuture Marketplace. 

Carbonfuture MRV+ provides a coherent end-to-end CDR supplier experience, from project support services to due diligence to tracking. Carbonfuture Marketplace enables CDR suppliers to find buyers looking for verified, high-quality carbon removal credits. It’s built on data-driven tracking and third-party certification standards. 

Highlighting the significance of the Trust Infrastructure for Puro.earth, its CEO, Antti Vihavainen, noted that:

“Carbonfuture’s CDR Tracking offers additional transparency of the carbon removal process from gate to grave, confirming alignment with the Puro Standard methodology requirements… we are delighted to see the integration of Puro.earth certified projects in the Carbonfuture Marketplace.”

By integrating Puro.earth-certified into Carbonfuture’s Trust Infrastructure, Puro suppliers will now have access to the largest carbon removal marketplace. They can then find buyers for their verified CDR credits. 

The Puro Standard for engineered CDR in voluntary carbon markets follows robust, science-based quantification methodologies for carbon removal technologies. These include biochar, enhanced rock weathering (ERW), and direct air capture, among others. 

The Puro Registry then issues the CO2 Removal Certificates (CORCs) that enable transparent tracking of credits from issuance to retirement. This, in turn, brings confidence to buyers because the Puro Standard is the first ICROA (International Carbon Reduction and Offset Alliance) endorsed standard for durable CDR. 

In February last year, Nasdaq launched three carbon removal price indexes based on Puro.earth CORCs.

Earlier this month, the largest open data platform for CDR reported that carbon removal purchases jumped 437% for the first half of this year versus full year 2022, with Microsoft as the top buyer.

Collaboration is Key in Scaling Up CDR

The collaboration between Puro.earth and Carbonfuture is based on their shared mission to advance carbon removal technologies. 

Their deal fuses Carbonfuture’s technological infrastructure that ensures trust in the carbon removal process and Puro.earth’s leading CDR Standard, plus 120+ registered CDR suppliers. 

To date, Puro.earth has retired 197,000 tons of CO2, at 174 EUR per ton of CO2 removed.

Carbonfuture’s CEO, Hannes Junginger-Gestrich, noted that their new setup will help carbon removal suppliers seamlessly go through the certification process and expand their market, “while providing buyers with the assurance to confidently purchase carbon removal credits”.

Carbonfuture and Puro.earth’s partnership involves two significant elements:

Facilitation of sale of CORCs via the Carbonfuture Marketplace. By integrating Puro Standard into Carbonfuture’s CDR Tracking, suppliers can track their CDR efforts, from carbon removal to storage. This ensures that the issued carbon removal credits are reliable and of high quality. 
Carbon removal suppliers will be guided how to get their projects certified by the Puro Standard through Carbonfuture’s Carbon Removal Supplier Services.

Last month, Puro.earth also entered into a giant merger with Xpansiv in an effort to scale carbon removals. 

These partnerships assert the significance of collaboration among key players in the CDR industry to bring more transparency and trust. By working together, Carbonfuture and Puro.earth are uplifting carbon removals while ensuring that CDR offers a solution to combating climate change and bringing the world to net zero emissions. 

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Barbie’s $1.3B Movie and Green Shift: Hollywood Meets Sustainability

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Once the epitome of pink dreams and plastic shoes, Barbie is going Hollywood and embracing eco-friendly and sustainability aspirations, particularly on reducing carbon and plastic footprint.  

Mattel’s iconic doll, known for her fashion statements and a multitude of careers, has made her theatrical debut with a splash in a star-studded Barbie movie. While box office figures are still rolling in (approx. $1.3B as of this writing), the real story is perhaps in how Barbie is taking on the green revolution.

Let’s rewind a tad to a juicy piece of fake news that recently stirred quite the commotion. 

Plastic-Free Barbie Hoax

An elaborate hoax, led by none other than the audacious climate pranksters, the Yes Men, announced a ‘plastic-free Barbie.’ This grand spectacle, complete with a faux ad featuring climate activist Daryl Hannah, was, in fact, an attempt to draw attention to Barbie’s plastic footprint. 

With almost 60 million dolls sold each year, Barbie parent brand, Mattel, consumes a lot of plastic. Since the doll’s creation in 1959, more than 1 billion Barbies have been sold globally.

As per the carbon emissions calculator, Greenly, these sales generate emissions of about 39,000 tons of carbon dioxide equivalent. Greenly based its estimations on research that investigates the carbon footprints of some children’s plastic toys, including Barbie.

According to the study, a 180g Barbie doll using plastics derived from crude oil emits 648g CO2e over its entire life cycle. In comparison, the Lego Star Wars toy has emissions of 537g CO2e while a Catwoman Lego set has 755g CO2e. 

However such carbon emissions data didn’t consider the entire Barbie universe, which includes other plastic Barbie items like houses, cars, airplanes, and more. 

The authors also noted that 92% of American girls aged 3-12 own an average of 12 Barbie dolls. That translates to 7,776g or 7.8kg CO2e per child.

The push for sustainability propelled the Barbie maker to shift to reusing and recycling plastic wastes that would have ended up in the oceans.

It was in 2021 when Mattel launched a range of Barbies made of recycled plastics. By the next year, a genuine collaboration with the Jane Goodall Institute saw the birth of carbon-neutral-certified Barbies crafted from recycled ocean-bound plastic.

This lineup showcased both a renowned ethologist and conservationist, Dr. Jane Goodall doll, and an Eco-Leadership Team – a potent nod to careers championing sustainability. With roles like Chief Sustainability Officer and Renewable Energy Engineer, Barbie seemed to say, “Hey, not only can you dream it, but you can also do it sustainably.”

On top of this green wave, another revelation popped up. A friend of John Montgomery, co-author of Shifting Context: Leadership Springs from Within, snapped a fun photo of a Barbie holding their book.

This wasn’t just any Barbie; she was part of the 2022 Career of the Year doll set: the Barbie Eco-Leadership Team. A pleasant surprise to many, this set was reportedly sold out.

Is Plastic Still Fantastic? Barbie’s Net Zero Plans

Mattel is leaping towards net zero commitments like almost every other major corporation. Mattel isn’t lagging with a pledge to reduce its absolute Scope 1 + 2 GHG emissions by 50% by 2030 (vs. 2019 baseline). 

Responding to the hoax, Mattel further noted that they’ve long ago announced their sustainability goals. And that includes the aim to achieve 100% recycled, recyclable, or bio-based plastic materials by 2030. Part of their goals is also to reduce plastic packaging by 25% per product (vs. 2020 baseline) and achieve zero manufacturing waste.

Reducing their plastic footprint is not only beneficial for the environment but for the companies doing it. These companies may be eligible for earning plastic credits. Each plastic credit is equal to one ton of plastic waste that would otherwise have not been collected or recycled. Companies can further leverage plastic credits along with carbon credits to address their sustainability concerns.

Like Barbie, many brands also consider plastic waste reduction as part of their net zero commitments.

Mattel also exceeded its goal to maintain 95% recycled content in the paper and wood fiber they used in their products and packaging, reaching 97.9% in 2021 as validated by the Rainforest Alliance.

Given Barbie’s extensive career history, we bet the Eco-Leadership Team would nudge them for an even swifter stride towards net zero emissions.

From Iconic Pink to Sustainable Green

But beyond the stats and dolls, Barbie’s green venture is more than just eco-friendly playthings. A deeper alliance with the Jane Goodall Institute’s Roots & Shoots program beckons kids to nurture their natural curiosity about the environment and amplify their eco-footprint knowledge.

Image source: Mattel.com

In a smart marketing move, a global challenge dubbed #NaturallyCuriousJane encourages young minds to adopt environment-conscious activities like community mapping and amplifying green spaces. Not just that, Barbie’s digital footprint, via their YouTube channel, showcases Dr. Jane Goodall, ensuring that her legacy and teachings ripple through younger generations.

Wrapping it up, from a playful prank about a plastic-free future to genuine strides in sustainability, Barbie’s evolution reflects our world’s shifting paradigms. It’s more than just a movie or a new doll set; it’s a narrative of change, adaptation, and of responsibility.

The next time your kid picks up a Barbie, remember: underneath that iconic pink and plastic facade is now a touch of green, a nod to a sustainable future. 

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Kia to Reuse Plastic from Record 55 Tons of Collected Ocean Trash

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South Korean carmaker Kia will use recycled plastic from a record 55-ton reclaimed trash from the Pacific Ocean in its future EV models, marking the company’s efforts for a sustainable mobility solutions provider. The impressive amount of plastic trash is recovered by Kia’s partner, The Ocean Cleanup.

The Ocean Cleanup is an international non-profit organization seeking to rid the world’s oceans of plastic. The team’s record-breaking catch was from the Pacific Ocean and landed at Victoria, Vancouver, Canada. 

Commenting on this significant effort, a Kia executive noted that it shows how technology can drive sustainable solutions at scale. The senior VP further remarked that:

“Initiatives such as this one perfectly align with Kia’s transition to a sustainable mobility solutions provider and our Plan S strategy… by acting as a responsible corporate citizen.”

Kia has set ambitious net zero goals and taken steps to slash its carbon emissions. 

Kia’s Sustainable Mobility Toward Net Zero

The Korean automaker has a strong focus on reducing its carbon emissions. In 2021, Kia declared to achieve carbon neutrality by 2045. To this end, the automaker aims to slash its carbon emissions by 97% compared to 2019 levels by 2045. 

Kia will then look for ways to offset the remaining footprint to make its net emissions “zero” at all levels. The company plans to meet its net zero targets through its so-called 3Ss – Sustainable Energy, Sustainable Mobility, and Sustainable Planet.

A big part of reaching its net zero or carbon neutrality targets, apart from transitioning to full-electric models, is investing in recyclable and eco-friendly materials and technology to lower its emissions and environmental impacts. 

Such strategy includes the brand’s support of The Ocean Cleanup as reflected in the project’s record haul. Recycling of the reclaimed plastic will start shortly with Kia using some of the plastic trash in future models. Recycled plastics will become interior components of Kia’s future fully electric cars.

This move aligns with Kia’s commitment to provide sustainable mobility solutions that have a measurable impact on the environment. It’s something that the carmaker has been doing with its fabrics and carpets from recycled PET and bio-based leather. For instance, in its EV9 model, the car has floor carpet made from fishing nets. 

The Ocean Cleanup’s 7-year partnership will give Kia more resources to recycle and use in its interior car parts.

Plastic Credits from the World’s Largest Floating Waste

The 55-ton record trash was recovered using The Ocean Cleanup’s System 002 extraction technology following a long voyage through the Great Pacific Garbage Patch (GPGP). It’s the planet’s biggest accumulation of floating waste, with a surface area of around 1.6 million sq. kilometers. In other words, that’s equal to more than 4x the size of Germany. 

Image source: Firstpost.com

The company’s floating systems are designed to capture plastics of all sizes, from microplastics to massive wastes. Their modeling estimates that the cleanup team needs around 10 full-size systems to clear the GPGP.

By deploying fleets of extraction systems, The Ocean Cleanup projects can remove 90% of floating ocean plastic by 2040. 

Right after it brought its recovered trash to shore with System 002, the team revealed its new System 03 technology. This new system is about 3x bigger than its predecessor. So apparently, it can capture more plastic waste at lower costs (per kilo of trash removed). 

The System 03 extraction also has a more sophisticated environmental monitoring and safety technology designed to protect marine life. 

The Ocean Cleanup said it will offset all carbon emissions from its System 002 campaign. The team is also working with Maersk in experimenting with low-carbon fuels for their support vessels. 

Announcing their future plans, Nisha Bakker, a director at The Ocean Cleanup, said that they’re aiming to remove 50% of the GPGP every 5 years, but they can’t do this huge task alone. With that, Bakker further noted that:

“Committed and valued partners, and particularly our global partner Kia, remain essential for The Ocean Cleanup to bring our shared ambitions of plastic-free oceans to reality.”

Their innovative and giant effort of recovering plastics from the oceans in partnership with Kia can make them eligible for earning plastic credits. Each credit is equal to a ton of plastic waste that would otherwise have not been collected or recycled.

They can then leverage plastic credits to address their sustainability concerns or as part of their net zero commitments. 

Kia’s commitment to repurposing 55 tons of Pacific Ocean plastic recovered by The Ocean Cleanup into future EV models symbolizes a pivotal shift toward a more sustainable automotive industry. This initiative scores big both in protecting our oceans and eliminating plastic waste.

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Nvidia’s Accelerated Analytics Can Cut Computing Cost and CO2 Footprint by 80%

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Companies are unlocking the potential of green computing to enhance their profits and also contribute positively to the environment. The Nvidia RAPIDS Accelerator for Apache Spark is a game-changer by cutting both costs and carbon emissions by up to 80%. 

Apache Spark is a software used by thousands of companies, including the world’s largest ones to speed up data analytics. 

Nvidia RAPIDS Accelerator’s ability to both improve analytics performance and energy efficiency can help businesses meet their net zero emissions. This innovative solution holds the promise of substantial carbon reductions for corporations and enterprises using Apache Spark.

Increasing Speed, Reducing Costs and Emissions with Green Computing

Not only can the RAPIDS Accelerator cut a company’s carbon emissions by as much as 80%, but it can also deliver 5x faster and cost 4x less on a GPU-accelerated Apache Spark. That means 80% of Fortune 500 companies using Apache Spark can collectively reduce their emissions significantly.

According to its creator Nvidia, each Spark user adopting the accelerator software can reduce a total of 7.8 metric tons of CO2 a year. To put that into perspective, it’s the same as how much a car emits in burning 878 gallons of oil. 

Thus, Nvidia’s RAPIDS Accelerator is a breakthrough in how green computing can help in the fight against climate change. 

What is Green Computing?

Green computing is also called sustainable computing or green information technology (IT), spanning supply chains, from raw materials to recycling. It refers to the practice of maximizing energy efficiency while minimizing the environmental impact of computer chips, systems, and software. 

In their lifecycle, green computing enables tasks through computers to be done for the least energy use possible. Efficiency is usually measured by performance per watt. 

The energy efficiency of computers is crucial because the growing demand for electricity is one of the major culprits of global warming. Though data centers are responsible for only 1% or 200 terawatt-hours of electricity use each year, their growth demands attention. 

In fact, industry estimates show that electricity use can go up to 13% by 2030 while the share of global carbon emissions would be 6% for the same year. 

Chart Source: Fintechcircle.com

This is where green computers can offer a solution as “energy efficiency is a full-stack issue, from the software down to the chips”, says an Nvidia engineer. Indeed, innovations in green computing resonate at every level across the industry with Nvidia taking center stage. 

Green Computers for Net Zero

In a world where more than 70 countries strive to reach net zero emissions, green or accelerated computing emerges as a vital tool in this global challenge.

Major industry leaders like Nvidia are working with companies in various sectors to show the technology’s benefits and potential. 

For example, the computer chip expert works with a renowned financial services company to test its application for real-time fraud protection. The financier aims to cut its carbon emission with accelerated computing so that it aligns with the Net-Zero Banking Alliance. 

Moreover, Nvidia reported that a large AI supercomputer confirmed the energy efficiency of its green computing tech in May.

Notably, across 4 popular applications, the Perlmutter supercomputer at the National Energy Research Scientific Computing Center (NERSC) demonstrated remarkable energy efficiency gains of 5x on average with Nvidia A100 Tensor Core GPUs.  

NERSC apps got efficiency gains with accelerated computing.

In fact, a weather forecasting application recorded acceleration of almost 10x compared to regular CPUs. These results are proof that green or accelerated computing is powerful in diverse applications. 

Remarkable Testimonies for Accelerated Computing

Other notable testaments of the Nvidia RAPIDS Accelerator came from Adobe, IRS, and AT&T. They all have tested and harnessed the powerful ability and potential of this green computing and information technology. They have experienced accelerated speeds, cost reduction, and remarkable AI model training gains. 

For instance, AT&T was able to process 2.8 trillion rows of mobile data information for only 5 hours – over 3x faster at 60% reduced cost than any previous test. 

According to the company’s AI architect, it would take over 48 hours to process only 7 days of data on CPU clusters. Compared that to the 5-hour result for Nvidia’s accelerator which involved a month’s worth of data. 

So the AI expert suggested that:

“… if a job is taking too long and you have a lot of data, turn on GPUs — with Spark, the same code that runs on CPUs runs on GPUs.”

Adobe also tried Nvidia’s green computing tech on its Intelligent Services platform, a tool helping marketers speed analytics using AI. They discovered that a single Nvidia GPU node can beat a 16-node CPU cluster by 33% while decreasing computing costs by 70% with the help of RAPIDS Accelerator. 

Adobe’s engineers also found out that the same green computing trained an AI model 7x faster than running on CPUs. That represents a 90% cost reduction in training AI models. 

To validate the gains of Nvidia’s sustainable computing, the IRS reported a 20x speed improvement by using GPU-powered computers. And that’s half the cost of doing it on CPUs. 

The IRS test analyzed over a 3 terabyte dataset, which the accelerated Spark cluster successfully processed. 

Nvidia further eases adoption by offering an accelerated Spark analysis tool, allowing users to explore the benefits without code changes and tailor GPU acceleration to their specific workloads.

As companies tread the path towards sustainability, the fusion of accelerated green computing and initiatives for climate becomes a crucial force. By integrating sustainable technology, like Nvidia’s RAPIDS Accelerator, into their operations, companies can drive profitability, speed up processes, and reduce carbon emissions, contributing to a greener future.

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