– The launch of the VCMI Claims Code, making credible climate claims
– Stellantis resumed the construction of EV battery plant in Windsor
– An Age-Old Wool Recycling Tradition Offers Lessons for Fast Fashion
– More Tornadoes in Canada?
Dear valued readers, we are thrilled to celebrate the 100th edition of our newsletter! Thank you for being a part of our climate-focused community. Since its beginnings the purpose of the newsletter has been to inform you with the latest insights on climate news and its implications for the industries you belong to, as well as keeping you updated on the dynamic landscape of the voluntary carbon market.
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The Voluntary Carbon Market Integrity Initiative (VCMI) has released its Claims Code of Practice, providing companies with guidelines to make credible climate claims. The Claims Code establishes three tiers of claims – Platinum, Gold, and Silver – based on the percentage of high-quality carbon credits purchased and retired in relation to companies’ remaining emissions. Companies making these claims must also adhere to the ‘Foundational Criteria’, which demonstrates that companies have a robust climate strategy in place to address their own emissions. The framework aims to enhance market confidence and integrity, accelerate the net-zero transition, and mobilize finance for climate solutions.
A globally recognized framework on the use of carbon credits, such as the Claims Code of Practice, is crucial for addressing climate change. By providing clear guidelines and rules, it ensures that companies make credible climate claims, which in turn builds market confidence in voluntary carbon markets. This promotes transparency, accountability, and integrity in carbon credit transactions, mobilizes finance for climate solutions, and accelerates the transition to a net-zero economy.
After pausing the project due to tensions regarding the Canadian government not fulfilling its financial support commitments, Stellantis resumed the construction of the electric-vehicle battery plant plant in Windsor following the federal and provincial government increased subsidies for the C$5 billion project. Battery production at the new plant is set to begin in 2024, creating 2,500 new jobs with an annual production capacity of over 45-gigawatt hours.
Stellantis resuming the project means a win for Canada, not only by creating jobs and increasing battery production capacity but also helping supply chain development and boosting the country’s position in the global EV market.
Transforming wool into new fabrics dates back to the middle of the 19th century, driven by economic opportunities and necessity. Today, environmental concerns are spurring demands for recycled wool as consumers seek out clothes made primarily of reused natural fibers instead of synthetic materials. While wool accounts for only 1% of global textile fiber production, the wool recyclers’ approach offers a circular economy model that can be emulated.
Circularity in the fashion industry reduces the industry’s reliance on finite resources with volatile prices while encouraging a shift away from the disposable nature of fast fashion.
With the exception of the US, Canada sees more tornadoes than anywhere else in the World. A massive tornado in Calgary has been classified as stronger than 95% of tornadoes usually seen in Canada. As temperatures rise, severe tornadoes could become more common and potentially migrate toward areas with higher populations. However, more data must be collected to draw concrete conclusions about the future of Canadian tornadoes.
Climate change can affect atmospheric conditions, including temperature and humidity patterns, which are important for tornado formation. The economic impacts of an increase in tornadoes will depend on the frequency, intensity, and geographic distribution of tornadoes.
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