In today’s edition:

⚡️ Europe drops down the offshore wind market league

🚜 A data dilemma on the farm

🌳  JBS’s public offering and environmental impact

⚡️ Energy (1-minute read)

Europe's offshore turbulence shifts global power play

What happened: Europe has lost its position as the world’s largest offshore wind market to the Asia-Pacific region led by China.

The numbers: Europe accounted for about 47 per cent of the 64.3GW of total global offshore wind capacity in 2022, while the Asia-Pacific region surpassed it with almost 53 per cent, according to Global Wind Energy Council data.

Why? Europe’s offshore wind industry has struggled as supply chain problems, slow permitting processes, and high-interest rates have increased the costs of everything from turbines to labour and financing. Last month, Swedish developer Vattenfall halted plans for a new offshore wind farm off England’s east coast, saying rising costs meant it was no longer viable. Siemens Energy earlier this month said it expected to rack up a €4.5bn loss this year as it struggles to fix its wind turbine business Siemens Gamesa.

Why it matters? To hit net zero emissions goals, the IEA estimates that offshore wind capacity will need to exceed 2,000 GW by 2050. Supply chain and permitting disruptions = net zero risk. (Full story here).

🚜 AgriTech (1-minute read)

A data dilemma down on the farm

The problem: A survey by consulting firm, McKinsey, shows that a decade after data analytics promised to revolutionise agriculture, less than 50% of US farmers use farm management software — a foundational technology that stores, analyses and visualises data.

Overwhelmed: Only 3% of farmers say they plan to adopt this software over the next two years, and even those who have adopted say that the volume of data they are provided is overwhelming, making it challenging to draw any useful conclusions.

Solutions: Big tech companies, like Microsoft, Amazon, and Google, are entering the agriculture sector by adapting existing technology and partnering with startups to address data management and analytical issues. At the same time, venture capital funding for farm management software increased by 35% last year.

The bigger picture: The next big wave in farm innovation, known as “precision agriculture”, uses technologies like AI, GPS, and sensors to help farmers make informed decisions that could boost yields with fewer inputs — supporting environmentally and commercially sustainable farming. However, this precision agritech relies on farmers already using farm management software, so those who don’t could get left behind. (Full story here.)

🌳 Nature (1-minute read)

A meaty debate over JBS's public listing and its environmental impacts

What happened: A coalition of environmental groups is pressuring regulators to block JBS, the world’s largest meat packer, from publicly listing on the New York Stock Exchange over climate concerns

Details: JBS are seeking a US listing to support wider investor access and cheaper capital to support the company’s expansion. However, environmental groups, including the Rainforest Action Network and Mighty Earth, have urged regulators to block the IPO (Initial Public Offering), stating that the destruction of rainforests due to cattle ranching in JBS’s supply chain is jeopardising international climate objectives, with the opposition to the IPO seen as a pivotal movement for environmental advocacy.

Moving forward: To try and address these concerns, JBS is implementing blockchain technology to monitor suppliers’ activities and intends to limit partnerships only to companies registered in its blockchain tool from January 2026. (Full story here).

💭 Little Bytes

Quote: “We have to get the fossil fuel industry at the table. We have to bring them to this effort, and they have to join in by being responsible.” US climate envoy, John Kerry.

Stat: Amazon forest carbon emissions surged in 2019 and 2020, reaching 0.44 and 0.52 billion metric tons, respectively, up from a 2010-2018 average of 0.24 billion metric tons, attributed to lax environmental enforcement — INPE study

Watch: The mosquitos that carry a “miracle” bacteria that fights disease and stops transmission to humans

🗞 In other news…

• Corporations relying on carbon credits to support their green claims now face proof that most such securities aren’t fit for purpose. Over 60 million carbon credits originated from projects barely reducing deforestation (full story here).

• North Korea is increasingly turning to solar power to help meet its energy needs as the isolated regime seeks to reduce its dependence on imported fossil fuels amid chronic power shortages (full story here).

• Pests and diseases exacerbate crop shortages as high temperatures have expanded the spread of insects and diseases, with prices for goods like cocoa, olive oil, and orange juice soaring. Plant diseases cost the global economy over $220 billion annually, and invasive insects at least $70 billion (full story here).

• Data from the International Monetary Fund (IMF) reveals that $7trn was allocated to fossil fuel subsidies during the 2022 calendar year (full story here).

• The EU is exploring Africa to support clean jet fuel projects under its Global Gateway infrastructure fund in advance of an expected surge in demand for ecologically friendly air travel. (Full story here).

🎣 Gone Phishing

Three of these stories are true, one we've made up. Guess which:

• Rare giraffe without spots born in US zoo

• Man arrested for stealing neighbour's entire front porch

• Tiny house breaks records by selling for over $1mn in NYC

• Iranian real estate agent arrested for selling an apartment to a dog

Written by Colin and Ollie - Drop us a message!