Anyone fancy an #Earthday data thread?
One of my frustrations with this topic is that all too often it’s portrayed in enormously over-simplistic terms: We need to stop flying! Cutting down forests is killing the planet!
So here’s some charts that show you the numbers that matter
Let’s start with this: this doughnut shows you total global emissions. About 50 gigatonnes of CO2 or equivalent. The numbers are from @WorldResources based on @IEA data which you and I can’t afford to see because they’re stuck behind a mammoth paywall.
First let’s break the doughnut into some primary categories: the vast majority is emissions from energy: everything from power stations to gas boilers to industrial processes. But also note a big chunk is emissions directly coming from the land/farming, and industry/waste
Let’s start with the bits that are probably pretty familiar. First, energy. It’s the vast majority of our emissions. And if you break it down further you can see the main parts. You’ve got transport (car exhausts, planes etc). Emissions from buildings (electricity, heating/AC).
What’s really striking (to me at least) is that the biggest component part of the biggest slice of emissions is not how we get around or how we live, but industrial processes: primarily iron/steel. This is a really, really big deal. Steel is not a sideshow. It’s a massive emitter
In fact, emissions from steel and the chemicals industry are about the same as the total emissions the nearly eight billion people on this planet create in our homes - from electricity, heating etc. A few thousand companies vs eight billion people!
Of course, energy isn’t the only source of emissions. CO2 is also puffed out from the chemical process when we make cement. A LOT of CO2. Methane wafts up from landfill. Then there’s land use, which is worth breaking down because it’s a very big deal…
So much is said abt reducing fossil fuel use, but far less about this slice of the emissions pie:
Land use
Lots comes from livestock & manure.
A striking amount is methane emissions from rice paddy fields - more than for every other crop!
Why aren’t we talking more about RICE?!
Dig into the data and it’s also clear that the mainstream narrative about carbon is somewhat divorced from the data. We talk a LOT about aviation emissions, and about deforestation. We talk far less about cement production. Yet it accounts for more emissions than either of those.
Actually that 3% number for cement production is an understatement since that’s purely the CO2 released from the chemical reaction in turning limestone into lime. We should really add on another 3-4% for the emissions from the ENERGY used to power the cement kilns.
There’s a great @WorldResources sankey diagram of all of this, which neatly shows you which sector is producing carbon and which methane etc here. My data is from there. Worth playing around with yourself wri.org/data/world-gre…
It’s worth saying at this stage: the UK’s specific pie chart is different: less carbon coming from industrial processes, for one thing. One of the upshots is that our domestic carbon emissions are actually pretty low. And falling quite fast. Hurrah!
But now include the carbon embedded in all those products we’re buying from overseas. Steel from Poland, aluminium, cement etc, and you can see our carbon FOOTPRINT - eg the emissions from the products we produce and consume, are far, far higher
It’s worth keeping this chart in the back of your mind as politicians go on about net zero in the coming months. What they’re invariably talking about is the white line. That’s fair enough. That’s what they control. But the black line also really matters.
Overarching lesson: if we’re really serious abt getting to net zero, we shouldn’t just be talking about forests. We should be talking about cement.
We shouldn’t just be talking about coal. We should be talking about rice…
Video here:
Before you say anything, yes there is another way to break down global carbon emissions: not by sector but by COUNTRY.
If you’re interested in that breakdown, you’ll find it in this video. You can probably guess the biggest polluter…
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The PM keeps repeating the figure £16bn in relation to the OBR's latest forecasts - giving the impression that this would have left a big hole in the public finances. What he fails to acknowledge is that that this is LITERALLY ONLY ONE PART OF THE STORY.
Here's why...
Yes: the OBR downgraded the fiscal numbers by £16bn (actually £15.6bn) due to weaker productivity (red bar below).
But it also simultaneously UPGRADED them by a whopping £32bn (blue bars).
This chart from @TheIFS shows it pretty clearly👇
Banging on about the £16bn productivity - as the PM did repeatedly in his press conference today - without also mentioning the £14bn inflation UPGRADE and the £17bn of other UPGRADES seems... pretty misleading to me.
It's simply NOT the full picture...
NEW
UK abolishes its "de minimis" rules which exclude cheap imports below £135 from paying tariffs.
A massive deal for the fast fashion/cheap Chinese imports sector: this is the so-called loophole used to great effect by SHEIN and Temu.
Should also bring in some tariff revenue
For more background on this, here's our investigation from earlier this year on de minimis and what it means in practice - including a glimpse inside the planes carrying these imports into the UK 👇
The flip side to this policy is:
a) stuff (yes, a lot of it is tat but even so) will get more expensive
b) it primarily hits lower income households
c) as you'll see from my thread, de minimis was a lifesaver for small regional airports. Its demise is v bad news for them...
NEW
"Data center alley" in North Virginia.
Home to the biggest cluster of server centres in the world.
Here, more than anywhere else, is the global epicentre of AI.
It's where the recent AWS outage happened.
And we've secured rare access INSIDE one of the data centres...
The inside of one of the centres, run by Digital Realty, one of the biggest datacenter companies in the world.
Extremely high security. Long, long corridors, flanked by rooms in which those servers are operating.
This is the very heart of the biggest economic story right now
And inside one of those rooms, here is one of the supercomputers powering the AI boom. This Nvidia DGX H100 is the physical infrastructure making AI a reality.
🚨EXCLUSIVE
The firm at the heart of Britain's critical minerals strategy has ditched plans for a rare earths refinery in the UK, and will build it in the US instead.
It's a serious blow to the Chancellor and her plans for "securonomics" ahead of next month's Budget👇
Not long ago Pensana was being hailed as key to Britain's industrial future.
It had plans to ship rare earth ores to the UK and refine them in a plant just outside Hull, creating 126 jobs and bringing in hundreds of millions of pounds of investment...
Its Saltend site was where the then Biz sec Kwasi Kwarteng launched the govt's official critical minerals strategy a few years ago, saying: "This incredible facility will be the only of its kind in Europe and will help secure the resilience of Britain's supplies into the future"
📽️Is Britain REALLY facing a 1970s-style fiscal crisis?
Why are investors so freaked out about UK debt?
Is this REALLY worse than under Liz Truss?
Who's to blame? Rachel Reeves? The Bank of England?
And would a bit of productivity really solve everything?
📈 Your 6 min primer👇
OK, so let's break it down.
Start with the chart everyone (well, everyone in Whitehall) is talking about.
The 30yr UK government bond yield. Up to the highest level since 1998. And it's still rising.
Does this mean the UK is facing a fiscal crisis? Let's look at the evidence
First let's compare the UK to other G7 countries.
There's two ways to do this.
First, look at absolute levels👇
And it looks pretty awkward for the UK.
Pre-mini Budget we were middle of the pack. That changed post-Truss. And now, under Labour, the UK is even more of an outlier.
👗Billions of pounds of imports...
↗️Rising by more than 50% a year...
🛬Planes stuffed with cheap clothes...
🇨🇳And a loophole saving Chinese companies from £billions of UK taxes.
Behind the scenes of one of the biggest stories in the modern economy: e-commerce
👇
We've spent months investigating this phenomenon.
- We've got the first official estimate of the scale of cheap untaxed imports into the UK.
- We've seen inside the planes carrying these goods here.
- A whole logistics industry is growing around it.
This is a v big deal!
The story begins with a MASSIVE rise in orders from Chinese e-commerce giants like SHEIN and Temu.
Now, most coverage of these brands focuses on labour standards. An important issue.
But there's something else going on here - something deeper.
A shift in how trade works...