Snippets for 19 January 2023

Thanks for reading our Snippets newsletter this week. We have once again included a mixed selection of articles we hope you find interesting.

We kick things off this week by looking at professionals who are leaving their jobs to pursue careers combating climate change, including those who used to be in the oil and gas industries. And it comes not a moment too soon, as emissions accounting is getting a makeover, with more granular data being the main requirement, which will mean more professionals in the space will be needed to help make the change.

Change is coming to Europe also, as the E.U. implements a new deal to limit carbon leakage from its borders, further tightening requirements for organisations to pay for the carbon they emit, regardless of where in the world they operate. This will ramp up the pressure on companies everywhere, and some may look to carbon credits to assist, which two startups in the U.S. are looking to provide to oil companies as an incentive to cap their disused wells. And if any company thinks it might be able to hide its emissions, think again, as NASA has developed equipment that can pinpoint sources of CO2, anywhere on Earth, from space.

Limiting emissions have, in many cases, a financial benefit for companies that implement such measures - from energy savings to efficiencies within their supply chain. Protecting nature can be a harder sell, however, companies may still improve their bottom line if they look at supply vulnerabilities within their supply chain, that are a result of ecosystem degradation. And one New Zealand resort and working farm that is working in harmony with nature is Lake Hāwea Station, which has been rated one of the world’s best retreats.

Our very own Air New Zealand is looking to embrace climate-positive change and has announced plans to purchase a fleet of new electric aircraft to operate some short regional routes. Wellington Airport is joining the movement as it looks to be the poster child for electric aircraft, hoping to be the hub for electric flights across the Cook Strait and beyond, into the 2020s.

Finally, small communities in India are changing their water management systems with great effect, going from dire water shortages to plenty, in a decade.

As 2023 kicks off, so does a new and encouraging trend – a growing tide of people leaving their jobs to pursue careers combating climate change, with many looking to work in companies aligned with climate goals. This article examines a number of individuals who have made the jump into climate change roles and their reasons behind their decisions to quit what were in many cases, high-paying jobs, for less pay, but more meaningful and rewarding positions. Read more...

And it is not just the jobs front getting a shake-up in 2023; its emissions accounting as well. Scope 3 emissions are probably the most misunderstood and inaccurate of all emissions, based on procurement information, estimates reported by corporate divisions and supply chain partners, and averages that have been worked up for various industry sectors. That is all about to change in an upcoming revision of the Greenhouse Gas Protocol, with one of the biggest motivators being a need for more granular reporting around Scope 3 emissions. Read more....

Also going to be felt widely in 2023, is the EU Carbon Border Adjustment Mechanism (CBAM). Agreed in December 2022, it seeks to combat climate change and prevent carbon leakage, by equalising the price of carbon paid for EU products and the one for imported goods. This will force importing companies to purchase CBAM Certificates to pay the difference between the country of production and the carbon allowances in the EU, thereby incentivising non-EU countries to increase their climate ambition. Read more....

At the end of an oil well’s life, big oil companies often sell their most-polluting wells to lower-tier oil companies that can continue to extract oil. Furthermore, at the end of their life, these wells are often left uncapped. In the U.S., companies like Carbon Path and Zero Six have made it a mission to stop the releases of climate change-causing greenhouse gas at their source- oil and natural gas wells. They offer mid-size oil companies carbon credits in exchange for ceasing oil extraction and plugging disused wells. Read more....

The Orbiting Carbon Observatory which was launched in 2014 is the first US satellite dedicated to measuring atmospheric carbon dioxide (CO2) from space. This article talks about the potential usage of OCO-2 and OCO-3 by providing a more detailed picture of carbon dioxide emissions. Their findings demonstrate that space-based observations can be used to track CO2 emission changes at a local scale. Read more....

Nature has been one of the sectors that have not received any guidance on achieving net zero. Businesses have not warmed up to the idea of nature preservation in the same way they have embraced cutting carbon emissions, predominantly due to less clarity on the financial benefits of nature preservation. This article talks about how organisations should collect data and protect and restore natural ecosystems by looking at dependencies within their supply shed. Read more....

Lake Hawea Station, the first certified carbon-zero farm in Australasia offering on-farm accommodation across four villas, has been selected as the only New Zealand property on the prestigious Conde Nast Gold List. Travellers can stay at the station knowing they are part of the climate change solution. The Gold list is an annual list of the world’s best hotels, resorts and cruises, expertly curated by Condé Nast Traveller’s global editorial team.Read more....

Air New Zealand has signalled its intention to begin its path to a greener future with a letter of intent to purchase 23 Alice electric planes. The nine-seater Alice is the first flight-proven all-electric commuter aircraft, which can also be configured to carry freight. This appears to be the first step in Air New Zealand’s plan to provide zero-emission flights by 2026. They are also partnering with several aircraft manufacturers to develop zero-emission demonstrator flights using electric, green hydrogen, and hybrid technologies Read more....

Wellington airport wants to be at the forefront of electric air travel and Air New Zealand’s commitment to purchase the aforementioned aircraft could help Wellington Airport achieve this. As a central travel hub, Wellington provides a great location for what will initially be short flights across the Cook Strait. Along with Air NZ, Sounds Air has also ordered a number of electric planes and plans to be totally electric by 2030. New Zealand’s common short flights provide the perfect environment for electric planes. Read more....

Water is a precious resource and the more we can do to manage it wisely the better. We next take a look at water budgeting in India where farmers are using science and data to manage precious water resources cooperatively, and where all farmers within a community are involved in the decision-making process. This also improves yields by using fit-for-purpose crops that don’t require more than the local water resource can provide. The outcome is an improvement in Incomes and quality of life for everyone involved. Read more....