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Hello EkoFamily,

It’s Friday, and we've got some seriously cool Eko stuff for you today! Ever been stuck on a plane that just won’t go anywhere? Yeah, us too. We dive into that, plus carbon news from Verra, a new RFP, and why we’re totally bombing our energy homework.

✈️ Grounded Problem

🌍 SSS

🍁Verra

🚨 Clean Cooking

📝 Energy Transition Homework

Eko's itching to hit the bike path around Stanley Park, Vancouver.. Let's roll! 🚲💨

Idle Emissions: A Grounded Problem ✈️

Ivan Zivkovic, Co-Founder of Teralta Hydrogen and Strategic Advisor for ClimateDoor, recently found himself trapped in a familiar yet frustrating situation: sitting on a stationary airplane.

While the airlines crew was commendable, the environmental implications of this delay sparked a thought-provoking question: How much CO2 is being emitted by an idle jet engine?

With airplanes relying on fuel-intensive APUs for power while grounded, the carbon footprint of these delays is substantial. This raises the question: why aren’t airports equipped with a “quick connect” shore power solution, powered by clean energy sources like batteries or hydrogen? 

Such a system could eliminate the need for planes to burn fossil fuels while idle, significantly reducing emissions.

This issue is not isolated to a single airport or country. It’s a global problem with immense environmental impact. While the potential for airports to address this on a local level exists, systemic changes at a national or even international level seem necessary. But what's hindering these crucial steps?

Ivan’s experience highlights a critical gap in our aviation sustainability efforts. As we strive for cleaner skies, finding innovative solutions to reduce emissions from ground operations is essential.

What are your thoughts on this issue? Have you experienced similar delays? Reply to this email and share your ideas for reducing emissions from grounded airplanes.

Sustainability Sentiment Score (SSS)

The SSS is down this week, the lowest we've seen in Q3. After taking a dip late last week, the Growth Climate and Mature Climate markets are slowly climbing their way back up. The Voluntary Carbon market has dropped drastically in the last five days, taking our score down with it!

On a positive note, what began as a rough week for the Regulated Carbon market has since turned upwards. European carbon prices dropped to their lowest levels since mid-April on Monday the 22nd, largely due to persistent selling pressure and a high volume of put options that discouraged buyers.

However, the closing bell on the 24th shows that the market has experienced its most significant daily increase in two months! Notable, the weekly Commitment of Traders data revealed an increase in speculative short positions, which further supported the gains and challenged the drop.

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New Era for Verra: Stakeholder Update

Verra recently held its quarterly Stakeholder Update Webinar and shared exciting news on the "New Era for Verra" initiative launched in September 2023. This initiative focuses on continuous improvement and transparency in Verra's work. 🔍

Here's a quick look at the highlights:

• New Carbon Capture and Storage Methodology: Verra released VM0049, a globally applicable framework for capturing and storing carbon dioxide (CDRs) and reducing emissions. 🌳

• Optional Methodology Change and Requantification: Verra has launched a consultation allowing project developers to update their methodology and potentially gain Core Carbon Principles (CCP) labels for their VCUs. 📝

• Progress on REDD Methodology and AUD Module: Verra has made significant headway on VM0048, the groundbreaking REDD+ methodology, and VMD0055, the module for Avoiding Unplanned Deforestation (AUD). 🌱

Want to learn more?

• Read the full July 2024 New Era for Verra update: [click here]📄

 🚨RFP Alert: Clean Cooking & Climate Consortium

Request for Proposals: Technical Support to 4C and the CLEAR Methodology

🌍🔧 Summary:

The UN Foundation’s Clean Cooking Alliance (CCA) is seeking proposals for technical support to the Clean Cooking & Climate Consortium (4C) to aid in cooking energy interventions for climate goals.

📅 Deadline: August 09, 2024

Energy Transition: Report Card Reveals Failing Grades 🚨

The Energy Progress Report 2023 reveals that the world is off track to achieve SDG7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all by 2030.

Key findings:

• Electricity access: Improved from 84% to 91% between 2010 and 2021, but progress slowed and 660 million people will still lack access in 2030.

• Clean cooking: Progress made, but 1.9 billion people will still lack access in 2030.

• Renewable energy: Accounts for only 19.1% of total energy consumption, needs to reach 33-38% by 2030.

• Energy efficiency: Needs to improve at a rate exceeding 3.4% globally from 2020 to 2030.

• International public financial flows: Declining since before the COVID-19 pandemic, reaching USD 10.8 billion in 2021.

The Energy Progress Report is a product of close collaboration among the five SDG 7 custodian agencies in the form of a specially constituted in a Steering Group:

• International Energy Agency (IEA)

• International Renewable Energy Agency (IRENA)

• United Nations Statistics Division (UNSD)

• World Bank

• World Health Organization (WHO)

THOUGHTS ON TODAY’S ISSUE?