22 Jan 26 | Business brief
Inside the global shift toward smarter, greener packaging
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In the latest news digest: Dow and Mura Technology partner to scale advanced plastics recycling in EU and US; emissions from power generation to decline by 0.3%; Brazil’s supreme court rules Paris Agreement a human rights treaty; and the International Monetary Fund launches a new gender strategy
A partnership between Dow and Mura Technology has led to the most significant commitment of its kind to scale the advanced recycling of plastics. The partnership will construct multiple advanced recycling facilities across Europe and the US, adding as much as 600,000 tonnes of annual capacity.
Global chemical business Dow will become a key off-taker of circular feed from Mura, a company offering advanced recycling solutions. The circular feed will reduce the reliance on fossil-based feedstocks and allow Dow to produce a recycled plastic feedstock to develop new, virgin-grade plastics. These will then be bought by global brands, and re-circulated into global supply chains. The expansion of Mura’s pipeline builds upon their first partnership in Teesside, UK, which is set to be fully operational by 2023.
Global chemical business Dow will become a key off-taker of circular feed from Mura, a company offering advanced recycling solutions. The circular feed will reduce the reliance on fossil-based feedstocks and allow Dow to produce a recycled plastic feedstock to develop new, virgin-grade plastics. These will then be bought by global brands, and re-circulated into global supply chains. The expansion of Mura’s pipeline builds upon their first partnership in Teesside, UK, which is set to be fully operational by 2023.
Brazil’s supreme court rules Paris Agreement a human rights treaty
In the Brazilian supreme court’s first climate change ruling, it has recognised the Paris Agreement as a human rights treaty. The ruling has ordered the government to fully reactivate its national climate fund, which was established in 2009 as part of a national climate policy plan. It was inoperative in 2019, when the lawsuit leading to the supreme court case was filed by four political parties.
The court said that ‘treaties on environmental law are a type of human rights treaty and, for that reason, enjoy supranational status. There is therefore no legally valid option to simply omit to combat climate change’. One justice also noted the rampant increase in deforestation in the Brazilian Amazon last year. This shows no signs of slowing down, as satellite images taken between January and June showed 1500 square miles of forest destroyed.
The court said that ‘treaties on environmental law are a type of human rights treaty and, for that reason, enjoy supranational status. There is therefore no legally valid option to simply omit to combat climate change’. One justice also noted the rampant increase in deforestation in the Brazilian Amazon last year. This shows no signs of slowing down, as satellite images taken between January and June showed 1500 square miles of forest destroyed.
International Monetary Fund launches new gender strategy
The International Monetary Fund has a launched a new gender strategy, to better integrate gender policies into its work. Managing Director Kristalina Georgieva has said that the fund will start implementing the four-pillar strategy immediately by assessing the macroeconomic impact of gender gaps, evaluating the gender-differentiated impact of shocks and policies, and providing tailored policy advice. Impacts of the pandemic and wars are now compounding the long-established disproportionate effect on women of climate change and increased global fragility. The new IMF strategy will support outcomes which benefit women, girls, and society in general.
Power generation emissions to decline by 0.3%
According to the International Energy Agency’s Electricity Market Report, global emissions from power generation are set to decline by about 0.3% this year, despite a forecast in January that emissions would remain flat, after last year’s record highs. The decline is due to a surge in renewable power coupled with a slowdown of industrial activity in China, with continued covid-19 measures and supply restrictions in the U.S.
Renewable power is predicted to grow by 11% in 2022, meeting a growing portion of power demand in the face of increasingly expensive fossil fuel prices. Global power consumption is set to increase by 2.4%, lower than the 3% growth the IEA predicted in January.
According to the International Energy Agency’s Electricity Market Report, global emissions from power generation are set to decline by about 0.3% this year, despite a forecast in January that emissions would remain flat, after last year’s record highs. The decline is due to a surge in renewable power coupled with a slowdown of industrial activity in China, with continued covid-19 measures and supply restrictions in the U.S.
Renewable power is predicted to grow by 11% in 2022, meeting a growing portion of power demand in the face of increasingly expensive fossil fuel prices. Global power consumption is set to increase by 2.4%, lower than the 3% growth the IEA predicted in January.
