FinancialBuzz.com News Commentary
NEW YORK, July 15, 2022 /PRNewswire/ -- According to a report by the International Energy Agency (IEA), global energy consumption has increased to approximately twice the average growth rate since 2010. This is due in part to a robust global economy and higher heating and cooling needs around the world. The demand for fossil fuels, natural gas, solar, and wind energy has also seen a double-digit growth in the last few years. As a result, companies, governments and individuals are seen to be increasingly adopting various strategies in order to reduce their carbon footprint. Currently, a wide range of strategies are available to help organizations reduce GHG emissions including supply chain management, waste reduction and diversion, using high-capacity energy storage systems, increasing fuel efficiency as well as the electrification of transportation. As such, the global carbon footprint management market size is estimated to grow from USD 9.0 Billion in 2020 to USD 12.2 Billion by 2025, while at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period, according to data by MarketsandMarkets. E-Home Household Service Holdings Limited (NASDAQ: EJH), Waste Management, Inc. (NYSE: WM), Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI), FuelCell Energy, Inc. (NASDAQ: FCEL), Plug Power Inc. (NASDAQ: PLUG).
Among the many strategies developed by corporations and governments to achieve environmental sustainability one that can be executed now and at a large scale is waste management. Sustainable waste management aims to diminish the amounts of natural resources depleted, reusing the substances taken from nature as much as possible and reducing the amount of waste created. Generally, sustainable waste management involves the collection, grouping, treatment and recycling of items, as well as providing a source of energy and resources when appropriately promoted.
E-Home Household Service Holdings Limited (NASDAQ: EJH) announced yesterday breaking news regarding, "a new 'carbon neutral' initiative to provide specialized waste classification, energy saving and emission reduction household services.
E-Home plans to launch garbage classification services and incorporate the concept of 'emission reduction' into standard door-to-door household cleaning and maintenance services, which involves developing tailor-made garbage bags (decomposable, non-composable, recyclable, non-recyclable etc.) and advocating customers to use this designated service for environment-friendly sorting of waste. The Company is also looking to provide such waste sorting services for public service institutions and has signed contract with a local property management company in Fujian for domestic garbage sorting and dumping.
China aims to have non-fossil energy consumption exceed 80% of its total mix by 2060, when the world's second-biggest economy plans to be carbon neutral, according to guidelines published by the official Xinhua News Agency in October last year. The measures are part of China's larger plan for achieving peak carbon emissions and reaching net-zero by 2060. The report reiterated the government's climate goals for 2025 and 2030 and vowed to accelerate a decline in China's coal use.
Carbon neutral is also not so far away from our day-to-day life. Garbage collection could play a key role in reducing carbon emissions but limited waste collection and poor segregation by households and at landfills make it difficult for recycling works. E-Home has established expertise and experience to provide this specialized service with garbage collection and dumping to help facilitate China's carbon neutral goals. Moreover, China has categorized 'Carbon Emission Manager' as a new profession that involves the monitoring, measuring and facilitating consultation on the reduction of carbon and other greenhouse gas emissions. E-Home is also riding on this trend and will combine existing training program and human resources system with skillset related to 'carbon neutral' household services to foster transformation of the Company's business into a green profession. The Company plans to provide Carbon Emission Manager training, which should help create new opportunities and jobs for workforce and also diversify E-Home's streams of revenue.
Mr. Wenshan Xie, Chairman and CEO of E-Home, commented: 'We are delighted to announce our carbon neutral project and we believe this new initiative will help create new jobs and work to expand our revenue from household training, boosting our profitability. In recent years we humans are profoundly aware that climate change is a security issue related to the survival and sustainable development of the whole ecosystem. To help facilitate China's carbon neutral goals, E-Home will also seek to adhere to green, low-carbon and circular development via transforming and upgrading our existing high-quality household cleaning and maintenance services.'
Waste Management, Inc. (NYSE: WM) announced earlier this year that its wholly-owned subsidiary WM Organic Growth, and Tailwater Capital LLC closed a joint venture that provides financial, commercial, and operational support to Continuus Materials to assist the company with scaling production facilities within the waste-to-product industry. Financial terms of the joint venture were not disclosed. Continuus Materials develops and operates manufacturing facilities that upcycle plastic and fiber materials from municipal solid waste into Everboard, a proprietary, high-performance, low-slope roof cover board. Continuus Materials' process reduces landfill waste and will generate significantly lower life-cycle greenhouse gas emissions than competing products made from traditional materials. "At WM, we are unlocking impactful sustainable solutions as we move toward a more circular economy, and the Continuus Materials business is one example of what we're aiming to achieve," said Jim Fish, president and chief executive officer, WM. "Continuus Materials brings an innovative solution that recovers recyclable materials in addition to materials that cannot otherwise be recycled and gives them a new, purposeful life. We look forward to working together with Tailwater Capital to grow the Continuus Materials business while achieving a shared goal of reducing waste."
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI) announced on April 12th, three new multi-year partnerships with leading non-profit organizations focused on community resilience, careers in sustainability, and energy efficiency building upgrades. The Foundation's partnerships with Groundswell, SEI, and Southface Institute will deliver funding to improve direct access to affordable clean energy and health-enhancing products and services for communities that contend with disinvestment and inequities; provide education and training opportunities for careers in climate solutions at historically Black colleges and universities and those that serve other communities of color; and equip non-profits with financial and technical resources to make sustainable building improvements. "The Hannon Armstrong Foundation is committed to supporting the most impactful organizations working at the intersection of social justice and climate action," said Jeffrey W. Eckel, President, Hannon Armstrong Foundation. "We are honored and grateful to help support the growth of these unique programs and services offered by Groundswell, SEI, and Southface Institute."
FuelCell Energy, Inc. (NASDAQ: FCEL) announced on June 6th, that it has executed a memorandum of understanding with TuNur Ltd., an independent renewable energy and green hydrogen developer focused on delivering low-carbon electricity and hydrogen to North Africa and Europe. "Achieving the ambitious goals of the North African and European clean energy ecosystem hinges on innovative developers like TuNur who are building green energy and hydrogen production solutions," said Jason Few, President and CEO of FuelCell Energy. "Working together with TuNur, we are eager to help support the energy transition while advancing regional climate goals using our differentiated electrolysis platform to produce low-to-zero-carbon hydrogen. Our solutions will further North Africa and the EU's goal toward greater energy independence and security."
Plug Power Inc. (NASDAQ: PLUG) announced on June 8th, that it will build a 35-tons-per-day green hydrogen generation plant at Port of Antwerp-Bruges in the heart of Europe. Plug signed a 30-year concession agreement to build the plant at the Belgian port, the second largest in Europe. Plug plans to erect a 100-megawatt green hydrogen plant, using its own electrolyzer and liquefaction technology, on 28 acres of land leased under the agreement. Plug will produce up to 12,500 tons per year of liquid and gaseous green hydrogen for the European market. "As Europe grapples with the challenges of climate change and energy security, our agreement with Port of Antwerp-Bruges will deliver much-needed natively generated, green hydrogen to local markets," said Andy Marsh, CEO of Plug. "The energy crisis in Europe resulting from geopolitical risks has accelerated the demand for green hydrogen development projects."
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