Romania has committed to reducing net carbon emissions from agriculture by 51% compared to 1990 by 2050, according to the long-term strategy for reducing greenhouse gas emissions of Romania, carried out by the Government. Also, 5% of the energy requirement in agriculture will be provided by the manure transformed into biogas.
Building owners in Romania are much more interested in ESG standards and also have higher expectations when it comes to sustainability than their counterparts in other countries, according to a survey by CBRE.
Changing the heating system and replacing doors and windows can reduce the carbon emissions of a single-family home by more than 80 percent, according to a CO2-Optimist study by the Swiss research institute EMPA for E.ON. It shows that poor insulation and outdated heating systems lead to above-average energy consumption and higher costs.
L'Oreal invests in a biotechnology company to develop plant-based ingredients on a large scale. The investment will contribute to the creation of new sustainable ingredients derived from living organisms. L'Oréal will replace traditional ingredients with organic alternatives, such as those obtained from sugars of vegetable origin.
OMV Petrom aims to reduce the carbon emissions from its own operations by 30% by 2030, compared to 2019 and the company's ambition for 2050 is to reach carbon neutrality from its own operations, says Christina Verchere, CEO of OMV Petrom.
Drugmaker Zentiva announces its commitment to plant 1 million trees by 2030. The company has reduced its CO2 emissions by 10% in 2022, following a 16% reduction in 2021.
DS Smith plans to build a photovoltaic park at the Zărneşti paper factory. The park would be ready in 2024, it would require an investment of €16 million and would generate approximately 19 MWh per year.
Europe is looking for the magic solution for decarbonization, simultaneously with ensuring energy security, although the year started with a strong feeling of optimism for the energy sector at the global level, says Radu Puiu, Financial Analyst at the brokerage house on international exchanges XTB Romania. Amid recent negative factors, many countries have had to resort to fossil fuels and delay the transition to green energy.
In the last three months of last year, over 29,000 tons of carbon dioxide emissions were reduced in Romania, through the packaging recycling activity generated by approximately 700 companies, according to Clean Recycle data. In 2021, Romania recorded a quantity of 79 million tons of carbon emissions from all industries, increasing by 5 million tons compared to 2020.
Green Environment Support, one of the biggest players in the Romanian market of environmental consultancy services, reports RON 2.5 million (€500,000) worth of business in 2022, with an 18% increase as compared to 2021.
ALD, a subsidiary of Societe Generale, takes a $400 million loan from IFC to expand its fleet of ”green” vehicles with the potential to reduce carbon emissions by up to 22,180 tons per year by 2026 in emerging markets, including in Romania.
51% of Romanian entrepreneurs see sustainability as a way to reduce operational costs, yet the same proportion say implementation is too expensive, according to a new study by BRD Groupe Société Générale. Conducted among micro and small-to-medium enterprises, the research outlines how Romanian entrepreneurs perceive the opportunities and challenges of transitioning to sustainable business models.
The Annual Water Report, based on over 13.5 billion liters of monitored water usage across 5,370 properties in 36 countries, reveals that 67% of properties experience water leakage yearly. With rising water scarcity, increasing tariffs, aging infrastructure, and stricter regulations, property owners are under growing pressure to better understand their water consumption.
Romanian developer Iulius has launched Europe's largest private bioremediation project, investing €29 million to clean 38 hectares of contaminated land in downtown Constanța. The project will transform the former Oil Terminal platform into an integrated urban regeneration complex worth over €800 million.
The European Union is at risk of missing a key United Nations deadline for submitting updated climate targets, as internal disagreements among member states delay a final decision on emissions goals for 2040.
Solar power has rapidly risen to become Hungary's second-largest source of electricity, overtaking gas for the first time in 2024.
