This week’s ten biggest climate innovation stories – 7 June

Could this pioneering ‘liquid air’ project can help store excess electricity? Who is transforming air pollution into talk-provoking art? And, how can buildings go net-zero emissions by 2030?

This, and more, in the week’s ten biggest climate innovation stories.

1. ‘Outperforming’: Green economy market cap now matches fossil fuel industry

There is a growing body of work detailing how green investments tend to outperform the market. A new report from FTSE Russell titled ‘Investing in the global green economy: busting common myths’ explores the current scale and performance of green economy investments.

2. Circular economy vital to EU’s quest to kill emissions: study

By reusing and recycling the most emission-intensive materials – steel, plastics, aluminium and cement – to a greater extent, the EU could reduce the carbon footprint of industry by 56%. Recycling and reuse alone could reduce annual emissions by 178 Mt, while more efficient processes and retooled business models could add a further 56 Mt and 62 Mt respectively.

3. Go net zero by 2030: World Green Building Council issues business challenge

The World Green Building Council has challenged companies across the globe to deliver net zero building emissions by 2030, a target it says will set an example of what “advanced” climate action should look like and kickstart the global green building sector.

4. Spain, Italy leadership changes raise hopes for EU climate ambition

Climate hawk Teresa Ribera will lead a new super-ministry spanning energy and environment. Meanwhile Giuseppe Conte, the leader of Italy’s populist coalition, has promised to speed up the decarbonisation of the economy.

5. Transforming air pollution into talk-provoking art

Kaalink (which means black ink in Hindi), can be fitted onto the exhaust pipe of a car or on a small chimney stack to collect soot. Once captured, heavy metals are separated from carbon to make ink that goes into the markers and bottles. In the future, the company hopes to find use for the separated metals.

6. Rich nations spend $100 bn a year on fossil fuel subsidies despite climate pledges

Nations including the UK, France, Germany and Italy have pledged to phase out fossil fuel subsidies by 2025, but many are still in place. The world’s major industrial democracies still spend at least $100 billion each year to prop up oil, gas and coal consumption, despite vow to phase them out.

7. Pioneering ‘liquid air’ project can help store excess electricity

A pioneering project in north-west England will turn air into liquid for energy storage to help electricity grids cope with a growing amount of wind and solar power. The world’s first full-scale liquid air