adplus-dvertising
Connect with us

Economy

'Throwaway economy' thwarting climate goals: report – FRANCE 24

Published

 on


Issued on: 19/01/2022 – 01:16

Paris (AFP) – Countries are neglecting the massive impact of the “throwaway” economy on planet-warming emissions, according to research published Wednesday that calculated more than half a trillion tonnes of virgin materials have been consumed since the 2015 Paris climate deal.

From clothing to food, planes to buildings, research by the organisation Circle Economy estimates that 70 percent of greenhouse gas emissions are linked to the manufacturing and use of products.

But in its annual report on the state of the world’s use of materials, researchers said national climate pledges to reduce emissions focus narrowly on fossil fuel use and ignore the mounting global appetite for stuff.

Matthew Fraser, head of research at Circle Economy, said the report aimed to look beyond just fossil fuel use and the transition to green energy and ask about the emissions implications of using fewer resources.

“What if we reimagine our relationship with stuff, what would that bring us? Actually, it is quite significant,” he told AFP.

The report estimates that if the economy were more circular, reducing resource extraction and consumption by 28 percent, then the world could meet the Paris warming target of 1.5 degrees Celsius above pre-industrial levels.

But only a third of nations’ climate pledges mention the circular economy as part of their emissions goals, the report said.

It warns that humanity is consuming 70 percent more virgin materials than the world can safely replenish.

Economic ‘metabolism’

The analysis looks at global material flows based on national import and export figures and translates them into estimates of materials used — and reused.

It calculates annual resource use has grown from 89.8 billion tonnes in 2016 to more than 100 billion tonnes in 2019 and estimated it at 101.4 billion last year.

Circle Economy found that almost all of the materials extracted go to waste, with just 8.6 percent of materials recycled in 2020, what they call the circularity gap.

That is an even lower proportion than in 2018, when reused materials were 9.1 percent of the total, as the global demand for more things surges.

“Even though we are getting more efficient with how we use materials — computers are getting smaller, cars are becoming lighter, recycling is getting better — these micro gains in efficiency just aren’t stacking up relative to the total increasing demand,” said Fraser.

The report identified a number of practices across sectors from food production to transportation that it said could help rein in the ever-expanding use of virgin materials.

Fraser said the model that enables people in richer countries to buy products from all over the world to be delivered within hours and days “will inevitably have to change”.

The report also weighed strategies like enabling electrical goods — which contain critical raw materials including gold, silver and cobalt — to be repaired, redesigning items to be easier to recycle, restricting single-use plastics and renting items like cars rather than buying them.

One sector it identified as having a significant opportunity to reduce its materials footprint was buildings and construction, where Fraser said current practices were far from sustainable.

He said government policy would be needed occasionally to reconfigure the economic incentives that make reusing resources more expensive than using new ones — stressing that this should be seen as an integral part of efforts to curb global warming.

But Fraser said for now the issue remains a significant blind spot for governments, which he said do not pull together data of their countries’ materials footprint.

He added that people in the future may ask tougher questions about whether materials can be recycled before they are even used.

“Could we become more strict about the metabolism of our economy? Just like you wouldn’t eat junk food all the time,” he said.

“I think in the future that could become more and more prominent.”

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Economy

S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

Published

 on

 

TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

Statistics Canada reports wholesale sales higher in July

Published

 on

 

OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

Source link

Continue Reading

Economy

S&P/TSX composite up more than 150 points, U.S. stock markets mixed

Published

 on

 

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

Source link

Continue Reading

Trending