Industrial projects, a "cradle-to-grave" approach means considering the environmental impact of a product or process from its inception, encompassing raw material extraction, manufacturing, transportation, use, and eventual disposal or recycling, aiming for a holistic and sustainable lifecycle management.
Here's a more detailed explanation:
What it is:
The cradle-to-grave approach is a method for evaluating the environmental impact of a product or process over its entire life cycle.
Stages:
This approach considers the following stages:
Raw material extraction: The process of obtaining raw materials from the environment.
Manufacturing: The process of transforming raw materials into a finished product.
Transportation: The movement of raw materials, products, and waste.
Use phase: The period during which the product is used by consumers.
Disposal or recycling: The final stage of the product's life, where it is either disposed of or recycled.
Why it's important:
By considering the entire lifecycle, businesses can identify areas where they can reduce their environmental impact and improve sustainability.
Example:
Consider a smartphone. The cradle-to-grave approach would include the extraction of rare earth metals, the manufacturing process, transportation to consumers, energy consumption during use, and ultimately, the disposal or recycling of the phone.
Benefits:
Improved environmental performance: By identifying and addressing environmental impacts throughout the product lifecycle, businesses can reduce their environmental footprint.
Cost savings: Identifying inefficiencies and optimizing processes can lead to cost savings.
Enhanced brand reputation: Demonstrating a commitment to sustainability can improve a company's brand image and attract environmentally conscious consumers.
Relationship to Life Cycle Assessment (LCA):
Cradle-to-grave is often used as a scope for LCA, which is a method for assessing the environmental impacts associated with a product or process throughout its lifecycle.
Cradle-to-Cradle:
While cradle-to-grave focuses on the end of a product's life, cradle-to-cradle aims for a closed-loop system where waste becomes a resource for new products, eliminating the "grave" stage.
Renewable Energy Certificate (REC) Market worth $45.45 billion by 2030
ReplyDeleteAccording to a new research report, the global Renewable Energy Certificate (REC) Market is projected to grow from USD 27.99 billion in 2025 to USD 45.45 billion by 2030 at a CAGR of 10.2% during the forecast period. Majority of the countries are expected to develop REC trading platforms, making access and trading more convenient. The market is primarily driven by the growing corporate emphasis on sustainability to align with consumer preferences and increasing national disclosure requirements. Additionally, long-term factors such as corporate interest in Power Purchase Agreements (PPAs) and evolving regulations reinforce renewable energy certificates (RECs) as the key instrument for legitimately claiming renewable energy usage.
Key Market Players
3Degrees, Inc. (US),
EDF Trading Limited (UK),
Shell Energy (UK),
ENGIE (France),
Enel Spa (Italy),
Ecohz (Norway),
Statkraft (Norway),
STX Group (Netherlands), among others...
The solar power, by energy type, is expected to be the most significant energy type market during the forecast period
RECs, or Renewable Energy Certificates, are all about the environmental benefits of electricity produced from renewable sources like solar, wind, hydro, biomass, and geothermal energy. These certificates are essential for boosting the solar industry, acting as a financial motivator for solar power producers. As the world moves more decisively to cleaner forms of energy, so will RECs take on greater importance in this transition. With RECs, stakeholders can hence move towards a more sustainable future and speed up the use of renewable energy solutions.
1,001-5,000 KWH, by capacity, is expected to grow at the second-highest CAGR during the forecast period
The renewable energy certificate (REC) market is witnessing consistent expansion across all capacity segments, fueled by the growing global emphasis on sustainable energy adoption. In this segment, above 5,000 KWh capacity continues to lead, reflecting uptake among industrial and commercial entities. The next growing segment is 1,001-5,000 KWh, since increasing businesses are taking advantage of the capacity while still pursuing their sustainability objectives. The segments having a capacity of less than 1,000 KWh are growing a bit faster because smaller consumers, which include residential and small commercial consumers, are also becoming aware of and taking up renewables. Thus, it is market growth driven by the combined support of income generation, corporate sustainability practices, and a change towards cleaner sources of energy.