The price of emission allowances for carbon dioxide rises to the skies
In August, the price of emission allowances has risen to over 21 dollars per ton, the highest level of a decade.
The EU Emissions Trading Scheme is an instrument for cost-effective reduction of greenhouse gas emissions. The system is based on common EU rules, covering all member states and Norway, Iceland and Liechtenstein. EU emissions trading began in 2005. Since its inception, the system has been expanded step by step and now applies to more industries.
Today, some 13,000 European facilities are included in the system, of which about 750 are in Sweden. Many facilities are located in energy-intensive industry and energy production.
The trading system has received a lot of criticism over the years but now it seems that Europe finally got it.
During the third week of August, the price of emission rights to over 20 dollars per ton, the highest level in a decade.
But not only that. Costs to generate electricity from both coal and gas have also risen sharply since the beginning of 2017, not least because the price of imported coal and gas has risen.
The cost of generating electricity from coal has risen by 72 percent to 46 euros per MWh and the equivalent for gas is 43 percent to 49 euros per MWh.
An analysis by Berenberg Bank argues that the shortage of allowances will be able to drive the price up to 100 euros per ton by 2020.
Trash to cash: How SWESTEP gives plastic waste a new life
People all over the world are throwing out large quantities of plastic each year, representing a huge sustainability issue. SWESTEP aims to address this by converting household plastic waste into sustainable oil and new plastic raw materials.
Over the past year, the Swedish green tech company has been working closely with Climate-KIC and the City of Copenhagen to carry out a feasibility study on the conversion of plastic waste to new sustainable oil. Since being established in 2012, SWESTEP has been developing an industrial process capable of turning all hydrocarbon-based waste and residues, such as plastic, into renewable fractions. In practical terms, this means that any organic waste stream can be considered as a feedstock, and duly be transformed into a wide range of renewable fuels or useful sustainable liquids and materials to be used again.
In theory, this process could have huge implications for how we deal with plastics, as well as waste management in general, as it could lead to the establishment of major circular economy loops into a city’s ecosystem, provide new sources of renewable energy, and create new revenues and jobs—effectively converting what was previously considered waste into a resource. One key aspect of SWESTEP’s technology is that the feedstock doesn’t require separating prior to processing, meaning mixed waste streams are just as effectively processed as sorted ones. This contrasts wildly with the status quo, in which mixed waste streams require appropriately sorting before the separate elements can be recycled.
Creating industrial inputs from waste plastic for industries that typically require fossil-based fuels or petrochemicals for major parts of their operations doesn’t just represent a welcome remedy to the problem of municipal waste, it also embodies potential to reduce the consumption of fossil-fuels and thus, contributes to climate change mitigation.
Given what was on offer, it’s easy to understand why Copenhagen was interested in a potential collaboration. Per Boesgaard, coordinator of the city’s Climate Plan 2025, had this to say:
“Waste management, and particularly plastic waste management, has represented a huge problem for the city for a long time. Plastic is now a large part of people’s daily lives, yet it represents a huge environmental problem with regards to both the consequences of its disposal and its carbon footprint.
Our challenge [as the City of Copenhagen] is to manage this problem holistically, which means solving the environmental issues without disrupting the day-to-day of our citizens. Thus, participating in projects such as this and collaborating with pioneering companies like SWESTEP to investigate the potential of their technology is both necessary and exciting for us as a city. We are very pleased with the outcome of this project and look forward to working more with SWESTEP and Climate-KIC in the future”.
Source DAILY PLANET; Read the full article – click here
Environment and Energy Fund Denmark – Support validation of Swestep’s process
Copenhagen politicians, just over three years ago, adopted a plan to start kick the recycling of the capital’s waste and limit the incineration. The plan meant that 45 per cent of household waste would be recycled in 2018, against 27 per cent in 2010. According to an evaluation made by the municipal officials January 2016, the goal could be achieved if one could find suitable technology that could produce renewable fuel/gas and fertilizers of industrial and household waste.
The municipality of Copenhagen is interested in testing the SWESTEP patented CC Process (Catalytic Conversion Process), which is a “Liquefaction Technology”. SWESTEP’s technology can offer sustainable renewable fuel and oil production by converting all forms of hydro carbon based waste and residues to renewable materials, such as synthesis fuels, chemicals, oils and polymers.
The purpose of this project is to validate results from SWESTEP’s technology. The goal is a more cost-effective, climate-friendly and sustainable way of using plastic waste for the production of renewable fuels.