Boron and the Low Carbon Economy
The push for increased decarbonization is being felt worldwide as investors pressure companies to take this issue seriously. The fossil fuel industry is feeling the heat, too, with some of its well-known members stepping up their efforts to reduce emissions and make a difference.
Governments are also taking notice of these changes, and there has been an increase in legislation designed to incentivize investments in clean energy technology. How can Boron help?
Decarbonization is the process of reducing our dependence on fossil fuels and cleaning up all other emissions that are causing damage to Earth’s climate. To have a sustainable future, we need to reduce these harmful effects as much as possible and Boron could be the answer.
The push for increased decarbonization has picked up momentum in recent years with ever-increasing concern about global warming. This issue is now at the forefront of public consciousness, making it more critical than ever before that citizens demand change from their government leaders. Moreover, the last decade has only seen the mobilization of the youth and young leaders taking to the main stage in the United Nations about the need to introduce urgency in the way we talk about climate change and decarbonization.
There are initiatives underway in many parts of the world explicitly designed around bettering environmental outcomes like “carbon pricing” or taxes, which puts pressure on companies who pollute excessively by charging them extra fees (or taxes).
For example, in places like Europe, companies must purchase an “Emissions Allowance,” which allows them to emit a limited amount of greenhouse gases. This is one initiative that has seen some success in getting the ball rolling on decarbonization.
There was even evidence found recently that suggests this type of policy could be introduced into Canada as well–with potentially immense benefits not just locally but globally too.
We can’t stop climate change from happening overnight, and it will take time to shift our economies towards 100% renewable energy sources. Still, we need to start taking these steps now if we plan on having any chance at maintaining a habitable planet!
Challenges for the Mining Industry
The mining industry is one of the significant stakeholders in carbon footprint and harmful emissions. And while the industry is not without a few successes in its decarbonization journey, it still has some significant challenges to tackle.
- The mining process itself consumes a lot of energy
- Climate change and water scarcity are becoming primary concerns for mining companies
- There are often unforeseen consequences when exploring new areas or discovering new deposits that can present additional environmental risks
The Goal and Boron
Mining companies have long been criticized for their environmental impact. However, these large-scale operations are now in a race against time to cut greenhouse gas emissions before the international community adopts ambitious net zero emissions targets by 2050.
Mining is not only an industry that provides raw materials; it’s also one with high and often overlooked ecological costs which need to be addressed if we hope to meet global standards on climate change.
Investors are putting pressure on companies to take decarbonization seriously. There are often unforeseen consequences when exploring new areas or discovering new deposits that can present additional environmental risks. Mining is not only an industry that provides raw materials; it’s also one with high ecological costs which need to be addressed to meet global standards on climate change and sustainability goals such as The Paris Agreement.
Investors have put pressure on mining companies about their carbon emissions because they believe it will lead them towards more sustainable practices. More than the governmental authorities, the power rests with the investors to leverage their stake in the company to reform the policies and align with modern technological alternatives/solutions that can cut down their carbon emissions. Companies are also beginning to be held accountable for the impact of the product they’re producing and selling.
What’s Next?
Mining Companies should invest in renewable technologies such as geothermal power plants, hydroelectric dams, hydropower stations, and wind turbines to meet their energy needs. They should also ensure they have access to clean, freshwater sources by investing in desalination facilities like those found on California’s coastline – or eventually developing the technology that would provide them access to clean water sustainably.
In addition, mining companies must invest in R&D and innovation by funding new research into the best ways of decarbonizing their industries.
Investors are also looking for more information on how mining companies plan to tackle climate change to increase transparency and ensure that investors have faith that these plans will be effective – and not just talk show rhetoric. One such strategy could use carbon offsetting initiatives like REDD+, which would involve paying people living near forests to preserve them to continue absorbing CO₂ then sell credits based on this capacity/service depending on carbon markets.
Investors also want to know how food producers plan to use more sustainable practices such as organic farming, which is often a better way of ensuring that crops are not exposed to chemicals and pesticides.
Materials like Boron and its compounds also play a massive role in improving sustainable energy sources and technology. For example, Boron is currently under development because it’s been theorized that it can be a better energy carrier than Hydrogen when it comes to solar power applications.
Decarbonization efforts can take many different forms depending on the industry the company caters to. For instance, in an oil refinery, one strategy could be using synthetic fuels from natural gas instead of relying on fossil fuel sources like crude oil or coal. ExxonMobil’s Baytown refinery already produces synthetic fuels from natural gas; this means it has already taken steps towards decarbonizing its processes, even if there may still be some ways to improve (such as efficiency). Investors are looking into other ways, too – they want information about mining companies’ plans to understand which is likely to be the most negatively impacted by climate change.
Dow Chemical has also taken steps towards decarbonizing its processes, including becoming more energy-efficient and investing in renewable energy sources like solar power.
A company’s future may depend on how well it can adapt and meet investor expectations – companies that can demonstrate they are taking steps against global warming will see a general increase in value as investors feel less worried about their investments’ ability to withstand climate shocks (since these incidents would not affect them)
Case Study: Barclays takes a firm step
Barclays has announced a new target to reach net-zero carbon emissions by 2050. This is in line with the plan set out by the Paris Agreement and will allow for Barclays BARC LTD to become an industry leader on this issue while still supporting its clients’ needs.
Barclays Bank, one of Europe’s largest lenders, just committed itself to achieve “net-zero” greenhouse gas (GHG) emissions at all levels, including what it finances from 2020 onward through 2050 as part of their strategy outlined in response to climate change under the Paris Agreement.
Barclays is only one of the large banks to make such a commitment. Many corporate organizations have followed in their footsteps to pressure their organizations towards the same. Many other companies have made similar commitments, including at least 11 Chinese coal mining firms, switching their production into clean energy by 2025. These changes in China’s industry are primarily driven by the country’s massive pollution problem and the need for sustainable development (achieving these initiatives).
The push for increased decarbonization has gained momentum from investors who want more businesses to take this issue seriously and more robust government policies to fight climate change – like carbon taxes or emissions caps set on polluters.
Investors continue pushing forward with divestment efforts while demanding greater transparency over how corporations measure up to environmental sustainability.
Conclusion
This trend is being driven by both the private and public sectors, with many companies now pursuing climate-friendly policies to remain competitive and reduce costs from compliance-related actions.
Investors are pushing for more transparency on emissions management – this includes disclosure of carbon emissions data (emissions released into air or water), relevant science that supports these disclosures, impacts on global warming, mitigation strategies employed if any – so they can better understand the risks associated with different investments.
Further, investors want these businesses to have a plan for decarbonizing their operations. This could include developing cleaner energy sources internally or partnering up with others who produce clean power at an affordable price while also considering how best to use renewable resources going forward.
Renewable energy sources like solar power, hydropower are going through remarkable breakthroughs every year, making them more efficient and an increasingly competitive source of fuel.
