Hello!
I know we’ve covered the “renewable paradox at play” in relation to the Iran war pushing European leaders to invest in more clean energy initiatives.
Today’s newsletter follows up on that trend but this time, it’s all about electric vehicles.
The CEO of Volkswagen's Spanish subsidiary SEAT/CUPRA expects a potential boost to EV demand if petrol prices remain elevated, adding electricity prices also play an important role.
"Of course, if petrol prices go up and it's something that stays for long, this could be a booster," Markus Haupt told reporters. However, ensuring electricity prices are competitive is key in making EVs attractive, Haupt said, adding, "This has to be our priority number one."
"Used cars are growing faster than new cars, especially because so many people are coming now and saying, 'we are price-sensitive people. We look at EVs, and we prefer used cars,'" Lohscheller told Reuters after the company released its first-quarter sales.
While momentum in Europe continues, Polestar has fared poorly in other key markets such as the U.S. where it sold just 735 vehicles during the quarter, amounting to 5.6% of its total sales, down from 11.1% last year.
Speaking of the United States, keep scrolling for a story on how the recent environmental rollbacks aimed at boosting power generation to meet soaring artificial intelligence-driven demand are affecting local communities facing coal-fired power plant air pollution in today’s Climate Lens.
Climate Buzz
Following on from yesterday’s newsletter on the rise of fertilizer and fuel costs for farmers, the fuel crunch from the Iran war is rippling through Bangladesh’s countryside, leaving tens of thousands of farmers struggling to secure diesel for irrigation at a critical stage of the rice paddy season.
2. More harsh weather in store for Afghanistan after 148 deaths
3. Australian utilities warn data centre demand risks pushing up household bills
Australian energy and water utilities Transgrid and the Water Directorate warned users that the strain on grid and water resources from a more than A$100 billion ($70 billion) data centre build-out in the country's biggest state could sharply push up household bills.
In submissions to a New South Wales state parliamentary inquiry, the utilities said existing laws were insufficient to protect consumers from bearing the rising costs.
4. Africa to pilot bond aimed at formalising artisanal mining
Zambian copper miner Metalex Commodities and Canada-based advisory firm Veridicor are piloting a sustainability bond aimed at integrating artisanal miners into formal supply chains. The instrument links investor returns to predefined social and environmental outcomes for workers, communities and host economies rather than output.
5. Argentina passes reform to ease mining activity in glacier regions
Argentina’s Chamber of Deputies passed a government-backed reform that aims to promote mining investment in glacier regions. Pushed by libertarian President Javier Milei's government, the reform drew controversy for allowing provinces to set their own glacier and periglacial protection standards.
Critics say this shift could undermine protections for high-altitude ice formations that serve as key freshwater reserves and threaten water resources.
What to Watch
Climate Commentary
Climate Lens
Coal and data centers: After years pushing against coal, the rise of power-hungry data centers has nudged the country's most polluting power source back onto the stage. Coal-fired power plants are also found to be in predominantly Black neighbourhoods of North St. Louis, which already has some of the city’s worst air quality.
About 78% of African Americans live within 30 miles of a coal-fired power plant, according to the NAACP, compared to 56% of non-Hispanic whites. Click here for the full insightful Reuters feature.
Number of the Week
25%
That’s how much India's steel mills aim to cut carbon emissions by over the next decade and reduce reliance on coal, while the world's second-biggest producer of the alloy plans to more than double output, according to a document seen by Reuters.
