In June, halfway through 2024, firms and governments assess bi-annual performance, GDP, and shareholder returns. The obsession with short-term profits and growth has led to environmental and social damage, like planned obsolescence, reckless resource extraction, and stock buybacks over long-term investments. We need alternative economic frameworks that prioritize people, the planet, and profit.
The number of lobbyists from fossil fuel and petrochemical industries at the UN talks on plastic pollution has increased by 37%. This rise signals intensified efforts to influence the outcome and poses a threat to any agreement limiting plastic production. Imbalances in representation and access raise concerns about the treaty's effectiveness, with corporate interests holding outsized sway.
Global airlines are resisting new EU rules to monitor non-carbon emissions from flights, arguing that the methodology is immature and the impacts are difficult to calculate accurately. The airline industry wants participation to be optional and limited to intra-EU flights, while environmentalists believe this would obscure aviation's true climate impact. The outcome will shape aviation's emission reduction efforts.
In 2023, 1.3 billion tons of food went to waste, while over 122 million faced hunger. This colossal food waste issue not only affects the environment but also represents a massive economic burden. Recycling food waste through composting and anaerobic digestion can mitigate these issues, but infrastructure and mindset hurdles need to be overcome for widespread adoption.
The UN report uncovers massive untapped e-waste reserves, with over 7,000 metric tons of neodymium and millions of copper and aluminium discarded annually. The demand for these critical metals is set to soar due to renewable energy and EV expansion. Transitioning to closed-loop circular models is crucial for sustainability. EU policies aim to close supply gaps.
The launch of Ocean Cleanup’s system 03 brings hope for ocean waste cleansing. The project aims to tackle the plastic pollution crisis. This ocean-bound plastic stems from inadequate waste management in coastal areas. Embracing a circular economy, it recycles ocean-bound plastic, creating economic opportunities and reducing pollution. However, challenges persist in a consumption-driven capitalist world.
Generative AI models, like ChatGPT, are pushing boundaries but pose energy challenges. Data centers, using 2% of global electricity, face soaring demand due to AI. This strains renewable capacity and may increase costs. Making GPUs more efficient helps, but urgent policy is needed to balance AI expansion with energy sustainability. (Word count: 50)
Around 10% of global residential property value, including inland homes, is at risk from climate change impacts. By 2050, climate impacts and emissions reduction measures could reduce housing values by $25 trillion. The financial system, property markets, and individuals face enormous costs, and effective policies are needed to incentivize resilience investments.
The Ocean Cleanup has achieved a major milestone with System 03, capturing record-breaking amounts of plastic waste from the Great Pacific Garbage Patch. This system, equipped with advanced technology, surpassed previous records and garnered widespread support. The monumental achievement serves as a beacon of hope and reinforces the belief in overcoming environmental challenges through innovation and commitment.
Scientists are exploring phytomining, using plants to extract nickel and other battery metals from soils, as a sustainable alternative to traditional mining. Certain plant species can absorb and concentrate metals at levels much higher than traditional mining yields. This innovative approach could support clean energy transitions by supplementing declining domestic nickel reserves and providing greener solutions.
The Trash Economy 