U.N. Energy Efficiency Mandate for Shipping Industry
Roughly 50,000 ships carry 90 percent of the worlds trade cargo every year, and unbeknownst to most, these ships tend to run on a heavily polluting oil known as bunker fuel. The United Nations International Maritime Organization (IMO) has decided to regulate both seafaring cargo and transport vessels to meet new energy efficiency and carbon emission guidelines. Unlike attempts by the U.N. to regulate carbon emissions in other sectors, this new set of rules will be applied equally to all U.N. countries regardless of whether they are industrialized or developing.
According to the IMO, shipping was responsible for 2.7 percent of global carbon emissions in 2007, but that could double or even triple by mid-century if no action is taken now.
SEE OTHER TOP STORIES IN THE WDM CONTENT NETWORK
The IMO’s Environmental Protection Committee concluded at a weeklong meeting that all ships built in the future must reduce pollution from today’s averages. The levels of emissions reduction will be based on an efficiency index for ships of varying sizes and types. The mandates state that shipbuilders may decide exactly how to meet the new standards.
“As long as the required energy-efficiency level is attained, ship designers and builders would be free to use the most cost-efficient solutions for the ship to comply with the regulations,” the resolution said.
“This is a very positive and important first step for a truly global, binding measure to reduce CO2 emissions,” Connie Hedegaard, the European commissioner on climate action, said from Brussels.
The new rules mandate that ships contracted in the first five years after 2015 must improve fuel efficiency by 10 percent. The standards are to be tightened every subsequent five years. By 2030, a 30 percent reduction rate would be set for most types of ships, based on the average of those built between 1999 to 2009.
The committee is also debating on whether to charge ships for carbon emissions, however, the delegation cannot yet agree on how such taxes would be spent.
Hydrostor receives $4m funding for A-CAES facility in Canada
Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.
The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction.
The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.
Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.
The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”
A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth.
Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."
The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.
Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019.