Telescope #103

Weekly horizon scan…

SUSTAINABILITY

• Global integrated risk assessment firm Moody’s and investment data and research provider MSCI announced today the launch of a new strategic partnership, with each company gaining access to each others’ sustainability and business databases to enable the launch of new data-driven ESG investing and sustainable finance solutions. DETAIL

• Only around one in five of finance executives at large companies believe that they are well prepared to meet upcoming requirements to report and seek external assurance on climate-related risks and opportunities, even as the vast majority anticipate sustainability reporting requirements to increase over the next few years. DETAIL

• Global insurance provider Zurich Insurance Group and risk capital and human capital solutions provider Aon announced the launch of a new clean hydrogen insurance facility, providing coverage for blue and green hydrogen projects with capital expenditures of up to $250 million. DETAIL

• Mining company Rio Tinto’s facility in Canada is set to debut a novel carbon-free aluminum smelting technology. This is in an effort to accelerate the shift to more environmentally friendly production methods. The concept is simple. In a traditional electrolysis cell, alumina (a combination of aluminum and oxygen) is placed with an electrode and a carbon anode. This process separates aluminum and oxygen, with aluminum settling at the cell’s bottom and oxygen combining with the carbon anode, resulting in CO2 emissions. In inert anode technology, the carbon component is eliminated. Without carbon, the separation of aluminum from oxygen only releases oxygen from the cell. DETAIL

• Joint Study by BCG and Comité Colbert Reveals That 65% of Consumers Take Into Account Companies’ Commitment to Sustainable Development When Deciding on Their Purchases. DETAIL

• Google’s goal of reducing its climate footprint is in jeopardy as it relies on more and more energy-hungry data centres to power its new artificial intelligence products. The tech giant revealed Tuesday that its greenhouse gas emissions have climbed 48% over the past five years. DETAIL

• The degradation of trees at the edges of tropical forests is more widespread than previously thought, according to new research. The study, published in Nature, explains that trees near deforested or degraded areas of the forest are more vulnerable to drought, as well as to human activity such as logging. These “edge effects” are measurable up to 1.5km into the forest, the authors find. DETAIL

• The World Meteorological Organization, which is tracking Hurricane Beryl's deadly course through the Caribbean, told AFP that more storms with its hallmarks could be expected in the future. DETAIL

HEALTH

• Sun-starved for much of the year, Dutch people flock to outdoor cafes as soon as the rays break through the clouds. Stopping for an al fresco lunch or a drink on a sunny town square is often spontaneous, leaving many unprepared and without sunscreen. Recognizing this, health insurer Zilveren Kruis has launched a campaign to combat skin cancer, the country’s fastest-growing type. By partnering with restaurants and bars, the insurer is getting sunscreen on the menu — literally. DETAIL

• A quick scan of your face could one day reveal how well you are aging and whether you are at risk of developing certain diseases. Scientists in China have found that a comparison of the heat coming off a person's nose, cheeks, and eye area could be an "ideal monitoring and screening tool for healthy aging". DETAIL

• The new strain of the mpox virus is spreading quickly along the eastern border of the Democratic Republic of Congo and is "the most dangerous yet", says the World Health Organization. The current outbreak has been driven by sexual transmission but there is evidence this strain can also be passed on through close skin-to-skin contact. Those now being infected include schoolchildren, healthcare workers and entire households. DETAIL

• Experiments on rats have shown that mixing energy drinks with alcohol can cause long-term problems with cognitive function, adding to concerns over young adults drinking habits. DETAIL

• A newly discovered communication pathway linking far-flung nerve centers within the brain and skull, and the body beyond, could provide a new target to stop migraine pain in its tracks. DETAIL

DIGITAL / TECHNOLOGY / SCIENCE / ARTIFICIAL INTELLIGENCE

• Advancements in neuroscience and robotics have been separate, but this world's first study from Chinese researchers has now been delivered on a robot controlled by human brain cells alone. No, it is not connected to a living person via a brain chip, as it uses the actual grey matter, and is among the earliest breakthroughs in biocomputation. DETAIL

• The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service. DETAIL

• Microsoft faces a hefty antitrust fine after the European Commission on Tuesday accused it of illegally linking its chat and video app Teams with its Office product, giving it an unfair advantage over rivals such as Slack. DETAIL

• A team led by University of Maryland computer scientists has invented a camera mechanism that improves how robots see and react to the world around them. Inspired by how the human eye works, their innovative camera system mimics the tiny involuntary movements used by the eye to maintain clear and stable vision over time. DETAIL

• China will develop more than 50 new national and industrial standards by 2026, the industry ministry said in a statement on Tuesday. The goal is part of the guidelines the ministry issued on standardising systems for the artificial intelligence sector. DETAIL

• With the regulation published in the Official Gazette today, cryptocurrency exchanges were brought under the supervision of the Capital Markets Board (CMB).  Cryptocurrency exchanges are required to obtain a license from the CMB to operate.  Stock exchanges that want to continue their operations must apply for an operating permit within one month.  CMB announced the documents required for license application. DETAIL

• Japan has launched its latest currency overhaul with the introduction of new 10,000 yen ($62), 5,000 yen, and 1,000 yen banknotes, incorporating cutting-edge holographic technology. This redesign, the first in 20 years, aligns with Japan’s changing financial system as it moves more towards using digital payments instead of cash. On Wednesday, Japan initiated the circulation of newly minted banknotes adorned with three-dimensional holograms depicting historical figures. DETAIL

ENERGY / TRANSPORTATION

• Swedish greentech company Eolus has just applied for a new 2.2 gigawatt (GW) offshore wind farm permit. To be called the Skidbladner offshore wind farm, the new farm is planned to comprise up to 147 wind turbines. If the Swedish government approves the permit, it will be sited around 12.4 miles (20 km) north of Gotska Sandön. According to Eolus, the estimated output of 11.7 terawatt-hours (TWh) per year from the project will be enough to meet half the power needs of Stockholm. DETAIL

• Alphabet-backed startup Cavnue has started constructing a smart highway in the US. The new smart road is big, long tracking system for Michigan’s Department of Transportation (MDOT) and for drivers on the highway. The smart highway is designed to inform both MDOT and drivers about potential issues ahead, such as obstacles in the road, accidents or traffic jams. It's hoped that the project will help relieve traffic congestion, prevent accidents and help authorities provide efficient responses to roadway emergencies. DETAIL

• China has achieved another remarkable milestone in technological innovation with the world’s first passenger train made entirely from carbon fiber. Known as Cetrovo 1.0 or the Carbon Star Rapid Transit, this marvel of engineering was recently unveiled in Qingdao, Shandong province. This futuristic train boasts significant advantages over its conventional steel counterparts, promising a smoother, greener, and altogether more efficient ride for passengers.

CYBERSECURITY

• New research has found that 78 percent of chief internal auditors / chief audit executives believe AI will negatively impact cybersecurity and data security, while 58 percent say it will exacerbate fraud. DETAIL

HUMAN / CURIOSITY

• While the four-day working week is becoming increasingly common all over the world, reactions to the "6-day working week" are increasing in Greece with the new law regarding working hours that came into force on July 1.  With the new law, businesses operating 24 hours a day, 7 days a week are allowed to request six days of work from their employees.  The new legal regulation does not cover the tourism and food sectors. DETAIL

• Algorithmic biases, copyright issues, privacy concerns, layoffs... People aren’t sure whether to trust AI or not. When it comes to discrimination, there’s a twist: in 29 of 32 countries surveyed for The Ipsos AI Monitor 2024, fewer respondents agreed with the statement “I trust people not to discriminate or show bias towards any group of people” than when given the same statement about AI. DETAIL