The Olympic solution to fight global warming is frozen
Jhe world is increasingly focused on sustainability and reducing greenhouse gas emissions, and the Beijing Olympics put sustainability front and center with the 2022 Winter Games. green technology is the carbon dioxide refrigeration system used at four of the venues where the Olympics and Paralympics are taking place, reflecting the focus on sustainability to which China is committed, reports the International Olympic Committee.
Ice rinks have traditionally used hydrofluorocarbons (HFCs), a chemical known for its harmful qualities to the ozone layer and its status as a contributor to climate change at 4,000 times the rate of carbon dioxide. The new CO2 refrigerants will help to significantly reduce the emissions produced by the Olympics, bringing carbon emissions to near zero; an equivalent reduction would be to plant 1.2 million trees.
“The Olympic Games are first and foremost a sporting event, but with their global visibility, they also provide an important platform to showcase sustainable solutions,” said Marie Sallois, IOC Director for Sustainability.
The ‘Ribbon of Ice’, the national speed skating ring and the only new venue built for the Beijing Olympics, will not only use carbon dioxide technology that runs on purified CO2 captured from waste gas but it will also capture the waste heat that the refrigeration process generates. It recycles heat created for ambient stadium heating, hot water for showers, to make and melt ice, and to control indoor temperature and humidity year-round.
The National Speed Skating Oval, Capital Indoor Stadium, Capital Short Track Speed Skating Training Hall and Wukesong Ice Hockey Training Hall will all use the new technology. Carbon dioxide cooling is 1.2 times more efficient than HFC refrigeration and can keep the temperature on the ice at a constant 0.5 degrees Celsius, creating an ice surface that is easier to skate on.
Investing in China’s Commitment to Sustainable Development with KESG
the KraneShares MSCI China ESG Leaders ETF (KESG) invests in leading ESG companies in China, and due to its sector diversification, it has been able to mitigate much of the regulatory risk in China this year.
The fund seeks to track the MSCI China ESG Leaders 10/40 Index, a float-adjusted, market capitalization-weighted index that includes companies with high ESG ratings relative to their peers within their sectors. The index includes all types of stocks publicly issued by Chinese issuers of all market capitalizations and excludes all issuers that have controversies in accordance with the United Nations Declaration of Human Rights, the Declaration of the International Labor Organization on Fundamental Principles and Rights at Work and the United Nations. Global Compact. The index also excludes all companies involved in alcohol, tobacco, civilian firearms, gambling, nuclear power, and conventional and controversial weapons.
The index is composed of securities from the following sectors: consumer discretionary, industrials, financials, communication services, healthcare, real estate, utilities, consumer staples, information technology, materials and energy. The securities included constitute the top 50% market capitalization of their sector, and no security may represent more than 10% of the underlying index, while no sector represents more than 40% of the index.
At the end of December, sector allocations were consumer discretionary at 41.04%, financials at 16.19%, healthcare at 10.95% and several smaller allocations.
KESG has an expense ratio of 0.58%.
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