Green Tech 6

NISH KOTECHA

Chair & Co-Founder, Finboot

finboot.com Greenwashing is the term used to describe companies or corporates that are promoted as green on the outside but less so on the inside. There have been some very high-profile examples such as the Volkswagen emissions scandal over the years but ESG mislabeling may surpass them all.

ESG compliance cannot be relegated to a simple checklist. Each element of E ‘Environmental’, S ‘Social’ and G ‘Governance’ needs evidence to support each and every claim. Even where a claim may be assigned a numerical score the assessment (a challenge in itself when measuring qualitative factors such as compliance with Modern Slavery requirements, etc.) the scorecard is not a universally accepted yardstick yet. Consider, S&P 500 ESG index (by S&P Global the independent index provider), which recently decided to exclude Tesla and include ExxonMobil provoking Elon Musk to say “ESG is a scam. It has been weaponized by phony social justice warriors.” However, this should not be ESG’s ‘Waterloo’ moment. Throwing out all the good work the renewed focus brings may be convenient in the time of rising inflation, Putin’s war on Ukraine and supply chain shocks all driving up living costs and slowing world growth. I have consistently maintained that if you don’t record it, you can’t measure it and then change it. The business world needs to adapt to invest in a renewable world where what we take out, is replenished for future generations otherwise we are accelerating our demise. We cannot lose our long-term objective despite the need to adapt to short term pressures. As a result, leaders and forward-thinking companies recognize ESG excellence as a competitive differentiator.

To achieve the ESG advantage, data needs to be correct and accurate from the start, collected in a way that is infallible. The data may not yet support your presentations, but the DWS scandal has demonstrated that the window for unsubstantiated claims is closing - we need accuracy and realism if we are to change our climate trajectory. Integrating Blockchain into the digital transformation roadmap of the corporation can address this challenge. Blockchain technology can provide transparency and create the supply chain agility required in the new normal. In an enterprise, blockchain can be used as a private permissioned framework for a group of stakeholders, such as suppliers, customers and regulators, to manage the sourcing, production and movement of goods dynamically throughout the supply chain. Blockchains are immutable, ensuring that each item of data can be traced back to each stakeholder providing recourse.

Furthermore, each individual asset could be assigned its own digital twin aka “Digital Passport.” The passport contains the provenance, it’s manufacturing process and its environmental footprint as well as its warranties, etc. This passport can move between owners throughout the manufacturing process to the end consumer and beyond to regulators to provide the necessary evidence to validate ESG claims.

This implies a world of interconnected blockchain networks where data can be shared with those with the right permissions in a compliant, safe and secure manner. In essence, a network of networks where each party can finally trust what they are being told because the history is stored and is immutable.

Blockchain is reengineering business processes and systems to enable a secure, trusted environment of data management and sharing between parties in a trusted way. This will allow organisations to exist beyond their current boundaries operating to build a renewable, safe and trusted world.

Some US$ 2 trillion has flowed into ESG themed assets which demonstrates the investor commitment to the cause. This can be used to raise the threshold of corporate claims. Where such claims have the right backing – accountable data on a blockchain, investment should flow, raising bar of operating standards.

We shouldn’t feel ‘blue’... but instead ‘shine like the sun’ on those who are thinking beyond short-term challenges to build a sustainable future when we emerge from these current economic shocks.

Blockchain is reengineering business processes and systems to enable a secure, trusted environment of data management and sharing between parties in a trusted way. Details at agamservices.com

ENGLAND’S LARGEST PRIVATE WIRE SOLAR CONNECTION NEARLY COMPLETE

The 20MW solar project is based at Nissan’s Sunderland car plant.

England’s largest solar park with a private wire connection will shortly be operational. The project signposts the future as large corporates grapple with ever more stringent government targets around decarbonisation and mounting pressure from investors. The site has been sold to an investment trust which will own the 20-year power purchase agreement (PPA) with Nissan – another indicator of investor appetite for funding and investing in such projects. The 20MW solar project, with more than 36,000 solar panels, represents a milestone for Nissan’s EV36Zero project and the company’s journey to carbon neutrality. The car manufacturer aims to be carbon neutral across the lifecycle of its products by 2050. The new installation, within the Wearside manufacturing facility, will generate enough renewable electricity to supply 20 per cent of the plant’s needs - enough to build every 100% electric Nissan LEAF sold in Europe. Incentives and targets around decarbonisation for large companies were unveiled at COP26. These included plans to force financial institutions and companies with shares listed on the London Stock Exchange to publish plans from 2023 on how they intend to achieve net zero emissions.

The project, delivered by Newcastle-based Engenera Renewables Group, was recently acquired by Atrato Onsite Energy. Atrato bought the Hylton Plantation Solar Farm – a special purpose vehicle formed to deliver the project – in a £10.6 million deal.

The behind-the-meter private wire solar installation was started late last year. Engenera Renewables Group carried out major design development and site clearance works to prepare the site for the construction of the solar array. As the project progresses, Engenera will retain responsibility for undertaking the EPC and O&M contracts for the installation and maintenance of the solar PV system. Lloyd Lawson, Chief Strategy Officer, Engenera, said: “The Nissan solar installation is a massive project and hugely important for a number of reasons. It represents the largest private wire installation Engenera has worked on to date, and also gives Nissan a big boost towards achieving its goals of becoming completely carbon neutral across the lifecycle of its products by fiscal year 2050. “This investment by Atrato Onsite Energy ensures the long-term certainty of the scheme. It means all parties are getting what they need from the project. We now look forward to finalising this installation and working closely with Nissan on future projects.” Bryan Glendinning, CEO Engenera Renewables Group, added: “This installation at Nissan is a very exciting project for us here at Engenera. “However, it’s not the only large-scale project we are in the process of delivering. Engenera is already working on the development of over 350MWs of similar utility scale projects throughout the UK and will be starting to deliver these over the coming months. “We also have capital to deploy and want to hear from any developer who has ready-to-build projects; we are keen to put our expertise and capital to bear and help many more businesses on this important journey.”

The Nissan solar installation is a massive project and hugely important for a number of reasons.

Nissan Solar Park.

NISSAN SUNDERLAND

nissan.co.uk

ECO-INNOVATORY SUPPORTS FEMALE ENGINEERS

Women-led engineering businesses are benefiting from a programme which enables academia-industry collaboration to create innovative low carbon goods, processes and services.

IRMA GILBERT

Founder & CEO, Autentica Parts

PROFESSOR JESS DAVIES

Professor of Sustainability, Lancaster University

LISA FURLONG

Managing Director, Mole Group Utilities

Autentica Parts, based in Liverpool, is a platform allowing engineers to share designs for parts and components which can be 3D printed by customers anywhere in the world.

It is the brainchild of Irma Gilbert who developed the concept through the Low Carbon EcoInnovatory (LCEI), a business support programme co-delivered by Lancaster University which gives small companies free access to top academic expertise and resources through funded research and development projects, ranging from one month to a year.

Irma’s R&D was accelerated using a fully funded intern who helped create a prototype for the platform which has customers across the world in a variety of industry sectors. The innovative platform is helping decarbonise the manufacturing supply chain, and reduce customer transportation and logistics costs by 70%, delivery times from three months to 24 hours, and CO2 emissions by up to 40%.

Irma , who now has a team of four and forecasts a turnover of £6m by 2025, praises her collaboration with Lancaster University.

“As a woman at the forefront of the Fourth Industrial Revolution I needed someone to believe in my ambition,” she said. “I saw a transformational opportunity to create a marketplace where engineers could share their designs for parts and components, which could then be uploaded to a platform, licenced and downloaded by customers anywhere in the world for additive manufacture.

“We really are indebted to the support offered by LCEI and the expertise of Lancaster University which supercharged my ideas to create a platform

As a woman at the forefront of the Fourth Industrial Revolution I needed someone to believe in my ambition... I saw a transformational opportunity to create a marketplace where engineers could share their designs for parts and components.