{"id":85398,"date":"2024-07-16T00:00:00","date_gmt":"2024-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/16\/today-sdg-progress-falls-short-china-looks-to-wto-to-intervene-in-its-ev-trade-war-with-the-us\/"},"modified":"2024-07-16T00:00:00","modified_gmt":"2024-07-16T00:00:00","slug":"today-sdg-progress-falls-short-china-looks-to-wto-to-intervene-in-its-ev-trade-war-with-the-us","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/16\/today-sdg-progress-falls-short-china-looks-to-wto-to-intervene-in-its-ev-trade-war-with-the-us\/","title":{"rendered":"TODAY: SDG progress falls short + China looks to WTO to intervene in its EV trade war with the US"},"content":{"rendered":"

Good morning, ladies and gents.<\/strong> It\u2019s another relatively calm news day, although we have plenty of meat for you to sink your teeth into with the UN\u2019s Sustainable Development Report 2024, which shows that global progress on SDGs is alarmingly off track. <\/p>\n

^^ We have chapter and verse on this story and more in this morning\u2019s news well, below. <\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- China looks to WTO to intervene in its <\/strong>EV trade war with the US: <\/strong>China has asked the World Trade Organization (WTO) to establish an expert panel to resolve the dispute over the EV subsidies the US will soon roll out under the Inflation Reduction Act (IRA). The move follows unsuccessful consultations between China and the US aimed at protecting China\u2019s EV industry. China\u2019s Commerce Ministry has urged the US to adhere to WTO rules and cease using industrial policies that hinder international climate cooperation, arguing that the IRA unfairly excludes its products, creating trade barriers and increasing green energy transition costs. <\/p>\n

How does the IRA impact China\u2019s EV sector?<\/strong> Under the IRA, subsidies are provided for consumers to purchase more EVs and companies to produce more renewables, which China has argued is exclusionary to non-American goods.<\/p>\n

REMEMBER-<\/strong> US tariff increases slapped onto EVs and batteries will come into effect on 1 August, the US Trade Representative office said in May<\/a>. The impact is expected to be major given that European and US car manufacturers sold 32% of all imported vehicles in China in 2023. <\/p>\n

This is not the first time China consults the WTO: <\/strong>China began a dispute settlement against the US at the WTO in March<\/a>, citing \u201cdiscriminatory subsidies\u201d that exclude their EVs from the market. The country said it pursued legal action to \u201csafeguard [their] legitimate interests \u2026 and maintain a fair level playing field of competition.\u201d The proceedings will take at least six months but the US will be able to appeal into a legal void should the WTO rule against them.<\/p>\n

The story made headlines in the international press:<\/strong> Reuters<\/a> | AFP<\/a> <\/p>\n

HAPPENING TODAY-<\/p>\n

<\/a> T<\/strong>he two-day <\/strong>Egypt Mining Forum<\/a><\/strong> kicks off today <\/strong>in Cairo. The event will bring together decision-makers from government, industry experts, new exploration firms, financiers, and investors to explore the challenges and advantages to establish Egypt as a leading global mining hub by 2040.<\/p>\n

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WATCH THIS SPACE-<\/p>\n

<\/a> #1- KSA + Envision nearing agreement to develop a wind turbine manufacturing plant: <\/strong>Saudi Arabia\u2019s privately owned renewables company Vision Industries<\/a> and the kingdom\u2019s Private Investment Fund (PIF) are close to securing an agreement with China\u2019s second largest wind turbine manufacturer Envision Group<\/a> to build a new wind turbine production plant in Saudi Arabia, sources close to the matter told Bloomberg<\/a>. The partnership \u2014 which comes as part of a bid to localize Saudi Arabia\u2019s supply chains \u2014 could be finalized as soon as this week with Envision expected to contribute the biggest investment value, the sources added. No details about the size or investment ticket of the project were disclosed. <\/p>\n

Envision has been active with regional companies: <\/strong>The company said last year<\/a> it would supply wind turbines with a capacity of 1.67 GW to power Neom\u2019s USD 8.4 bn green hydrogen project, which is slated to become fully operational in 2026. Envision is also the turbine supplier for Acwa Power\u2019s 250 MW wind project<\/a> in Azerbaijan. The turbine maker will also provide its product to Egypt\u2019s Amunet wind project<\/a> being developed by Amea power. <\/p>\n

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#2- Egypt will work with the UAE to add 4 GW worth of renewable projects onto Egypt\u2019s <\/strong>national grid by next summer<\/strong>, Prime Minister Moustafa Madbouly said, according to a statement<\/a>. Madbouly\u2019s comments came during a meeting he held with UAE\u2019s Minister of Industry and Advanced Technology Sultan Al Jaber and Masdar CEO Mohamed Jameel Al Ramahi where they discussed the need to introduce new energy sources and localize related industries, such as solar panel manufacturing and wind energy equipment. The private sector will also play a role in implementing these projects, Madbouly added. No details about the nature of the projects or their investment value were disclosed. <\/p>\n

<\/a> #3- Oman\u2019s Manah solar plants 60% completed: <\/strong>Construction of Oman\u2019s USD 800 mn Manah 1 and Manah 2 solar energy projects, each of which has a capacity of 500 MW, is 60% complete, according to Oman News Agency<\/a>. The projects will reduce 1 mn tons of carbon emissions annually. Construction of both projects began in 3Q 2023<\/a> and commercial operations are expected to be completed by the middle of 2025.<\/p>\n

More about Manah: <\/strong>The Manah plants are a project by Oman\u2019s Nama Power and Water Procurement Company to build a solar plant with a combined capacity of 1 GW<\/a>. The Manah 1 project is being developed by a consortium comprising French power utility EDF Renewables and Korea Western Power, while a JV made up of Singapore\u2019s Sembcorp Utilities and China\u2019s Jinko Power was selected to develop the Manah 2 solar plant in March. <\/p>\n

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<\/a> We have a price for Egypt\u2019s locally made EVs: <\/strong>Egyptian government-owned automaker Arab Organization for Industrialization\u2019s locally made EVs being manufactured in partnership with Saudi's Waja Group<\/a> will be priced between EGP 500k to EGP 1 mn, Chairman Mokhtar Abdel Latif said in an interview with TenTV (watch, runtime: 51:51<\/a>). Another car being manufactured with an unnamed Chinese company will be priced at less than 500k, he added. There is still no publicly available information about the size, ownership split, brand portfolio, or production plans of the Waja agreement. <\/p>\n

Not the only EV in the works for Egypt: <\/strong>Egyptian firm GV Investments\u2019 automotive arm GV Auto signed a partnership agreement<\/a> with Chinese state-owned Faw Group to locally manufacture, assemble, market, distribute, and export EVs. Locally assembled EVs from the partnership should start rolling out by the beginning of next year. <\/p>\n

\n

WORTH READING- <\/p>\n

Cleantech <\/strong>investor and founder of <\/strong>Khosla Ventures<\/a><\/strong> Vinod Khosla is embracing a <\/strong>high-risk approach to climate tech investing<\/strong>, he told The Financial Times<\/a>. Despite the volatility in investment sentiment and political uncertainties, Khosla\u2019s strategy focuses on investing in \u201ccompanies pursuing radical approaches with high technical risk\u201d and products that can become cost-competitive without long-term subsidies or future carbon pricing. This approach, while risky, aims to achieve breakthroughs in the green tech sector, according to the FT. Khosla has been investing in clean tech for over 20 years, making him a pioneer in the industry. <\/p>\n

About Khosla\u2019s investments:<\/strong> Khosla\u2019s investments focus on sectors including steel, fusion power, geothermal energy, AI, and urban transit. He has shown skepticism towards technologies that remain more expensive than conventional options, such as Sweden's H2 Green Steel<\/a> and Hybrit<\/a>. Instead, he backs companies like Limelight Steel, which aims to replace coal-fired blast furnaces with laser-based systems, Commonwealth Fusion Systems<\/a>, which is developing a prototype fusion plant, and QuantumScape<\/a>, a company working on advanced solid-state batteries. Khosla is also exploring superhot geothermal energy through investments in Quaise<\/a> and Mazama Energy<\/a>. <\/p>\n

DANGER ZONE- <\/p>\n

Forever chemicals in EV batteries pose major health hazard in disposal:<\/strong> Perfluoroalkyl and polyfluoroalkyl substances (PFAS) \u2014 also known as forever chemicals \u2014 used in lithium-ion batteries pose significant environmental and health risks, according to a recent study (pdf)<\/a> from Texas Tech University. The research focused on bis-FASI, a subclass of PFAS, finding alarming levels near manufacturing plants and in remote regions. The study found that waste from disposed batteries is a major pollution source, with bis-FASI detected in soil, water, and even snow, indicating its mobility through the atmosphere.<\/p>\n

The damage:<\/strong> The chemicals, essential for clean energy technology, don\u2019t break down naturally and accumulate in humans, leading to severe health issues such as cancer and liver disease, the study adds. The lack of end-of-life standards for PFAS battery waste exacerbates the problem, with most waste ending up in municipal dumps. The study emphasizes the need for better environmental risk assessments as the clean energy industry expands.<\/p>\n

REMEMBER- There\u2019s a way to destroy forever chemicals: <\/strong>A team of researchers from the Fermi National Accelerator Laboratory demonstrated that high-energy electron beams can break down forever chemicals<\/a> in water. The researchers used an electron beam accelerator at Fermilab to irradiate water samples containing two of the most problematic PFAS compounds. The electron beam was able to break the strong bonds in the PFAS molecules, effectively eliminating them without releasing harmful byproducts.<\/p>\n

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CIRCLE YOUR CALENDAR- <\/strong><\/p>\n

The UAE will host the <\/strong>World ESG Summit<\/a><\/strong> from Tuesday, 20 August to Wednesday, 21 <\/strong>August<\/strong> in Dubai. The summit will gather experts and industry leaders to explore new ways to integrate Environmental, Social, and Governance (ESG) principles into business practices. <\/p>\n

Turkey will host the <\/strong>International Conference on Clean and Green Energy Engineering<\/a><\/strong> from Saturday, 24 August to Monday, 26 August<\/strong> in Izmir. The event will gather researchers and professionals to share advances in clean energy. It will also offer a platform to discuss the latest research, practices, and applications in clean and green energy engineering.<\/p>\n

Check out our full calendar on the web<\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, ladies and gents. It\u2019s another relatively calm news day, although we have plenty of meat for you to sink your teeth into with the UN\u2019s Sustainable Development Report 2024, which shows that global progress on SDGs is alarmingly off track. ^^ We have chapter and verse on this story and more in this […]<\/p>\n","protected":false},"author":1,"featured_media":85399,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[44],"tags":[69,40,11,64,457,88,52,43],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-85398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-china","tag-egypt","tag-enterpriseclimate","tag-evs","tag-inflation-reduction-act","tag-renewables","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"88e74893-8ef2-46d8-91b1-8f673a535d44","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/6\/578.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: SDG progress falls short + China looks to WTO to intervene in its EV trade war with the US","related_issue":[85396],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.262fa834-4676-4755-93f8-288e5a79fa31.mp3"},"yoast_head":"\nTODAY: SDG progress falls short + China looks to WTO to intervene in its EV trade war with the US - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/07\/16\/today-sdg-progress-falls-short-china-looks-to-wto-to-intervene-in-its-ev-trade-war-with-the-us\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TODAY: SDG progress falls short + China looks to WTO to intervene in its EV trade war with the US\" \/>\n<meta property=\"og:description\" content=\"Good morning, ladies and gents. 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