World
UN Seeks Investment in Food Cold Chains to Tackle Rising Food Insecurity
By Adedapo Adesanya
As global leaders continue to seek answers to issues bedevilling the world at the ongoing Conference of the Parties (COP 27), a new report has emerged that more than 3 billion people can’t afford a healthy diet.
This is blamed on the lack of effective refrigeration, which directly results in the loss of 526 million tons of food production or 12 per cent of the global total.
Launched at the conference, the Sustainable Food Cold Chains report from the UN Environment Programme (UNEP), and the Food and Agriculture Organization of the United Nations (FAO) finds that food cold chains are critical to meeting the challenge of feeding an additional two billion people by 2050 and harnessing rural communities’ resilience while avoiding increased greenhouse gas emissions.
As food insecurity and global warming rise, governments, international development partners and industry should invest in sustainable food cold chains to decrease hunger, provide livelihoods to communities, and adapt to climate change, the UN said.
The report was developed in the framework of the UNEP-led Cool Coalition in partnership with FAO, the Ozone Secretariat, the UNEP OzonAction Programme, and the Climate and Clean Air Coalition.
Speaking on it, Inger Andersen, Executive Director of UNEP, said, “At a time when the international community must act to address the climate and food crises, sustainable food cold chains can make a massive difference.
“They allow us to reduce food loss, improve food security, slow greenhouse gas emissions, create jobs, reduce poverty and build resilience – all in one fell swoop.”
The report noted that the number of people affected by hunger in the world rose to 828 million in 2021, a year-on-year rise of 46 million.
Other numbers showed that almost 3.1 billion people could not afford a healthy diet in 2020, up 112 million from 2019, as the economic impacts of the Covid pandemic drove up inflation. This year, meanwhile, the conflict in Ukraine has raised the prices of basic grains threatening food security.
All of this comes while an estimated 14 per cent of all food produced for human consumption is lost before it reaches the consumer. The lack of an effective cold chain to maintain the quality, nutritional value and safety of food is one of the major contributors to food loss.
According to the report, developing countries could save 144 million tonnes of food annually if they reached the same level of food cold chain infrastructure as developed countries.
The report also indicated that the food cold chain has serious implications for climate change and the environment. Emissions from food loss and waste due to lack of refrigeration totalled an estimated 1 gigatonne of carbon dioxide (CO2) equivalent in 2017 – about 2 per cent of total global greenhouse gas emissions.
In particular, it contributes to emissions of methane, a potent but short-lived climate pollutant. Taking action now would contribute to reducing atmospheric concentrations of methane this decade.
Overall, the food cold chain is responsible for around four per cent of total global greenhouse gas emissions – when emissions from cold chain technologies and food loss caused by lack of refrigeration are included.
Lost food also damages the natural world by driving the unnecessary conversion of land for agricultural purposes and the use of resources such as water, fossil fuels and energy.
Reducing food loss and waste could make a positive impact on climate change, but only if the new cooling-related infrastructure is designed to use gases with low global warming potential, be energy efficient and run on renewable energy.
The report showed that projects around the world show that sustainable food cold chains are already making a difference. In India, a food cold chain pilot project reduced losses of kiwi fruit by 76 per cent while reducing emissions through the expansion of the use of refrigerated transport.
By Adedapo Adesanya
The United Arab Emirates-based multi-billion-dollar tech powerhouse, Phoenix Group, has announced a major strategic expansion into the African market with the acquisition of an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia to boost its Bitcoin mining capacity.
The deal forged in partnership with Abu Dhabi-based cybersecurity firm, Data7, marks a significant step in Phoenix Group’s global diversification strategy and secures a reliable and sustainable energy source to fuel its long-term growth and underscores a commitment to responsible digital asset infrastructure development.
The new Ethiopian site, slated for energization in Q2 2025, will dramatically enhance Phoenix Group’s operational capacity, significantly increasing the exahash rate of its rapidly expanding mining portfolio.
“This move solidifies Phoenix Group’s position as one of the world’s largest Bitcoin miners and reinforces its commitment to scaling operations and delivering cutting-edge, globally distributed digital asset infrastructure. Phoenix Group is poised to build on this momentum, with further announcements of new sites and increased capacity in 2025, including continued expansion in Ethiopia and a strategic entry into the South American market,” the statement shared with Business Post said.
Speaking on the development, Mr Munaf Ali, CEO of Phoenix Group said- “This 80MW expansion in Ethiopia, on the heels of our North Dakota site announcement, is a powerful testament to Phoenix Group’s accelerating global momentum.
“We are aggressively building out our mining capabilities, and this added capacity further solidifies our position as one of the world’s largest Bitcoin miners, fueling our growth trajectory as we prepare for our listing on Nasdaq. We’re not just expanding our operations; we’re strategically positioning ourselves at the forefront of a financial revolution where cryptocurrencies will play a central role in creating a more inclusive and dynamic global economy.”
Mr Reza Nejatian, CEO of Global Mining Operations at Phoenix Group, added: “This project in Ethiopia, significantly increasing our exahash rate, is a clear signal of our ambition to not just participate in, but to lead, the global Bitcoin mining landscape. Ethiopia’s emergence as a key crypto-mining hub provides the perfect platform for our continued expansion, and this is just the first phase of our growth in the country.
“Our strategic partnership with Data7, enabling the deployment of the latest S21 Hydros, underscores our commitment to leveraging cutting-edge technology to maximize efficiency and solidify our competitive advantage”, adding that, “Our ambitions extend beyond Africa; we’re actively preparing to launch operations in South America in 2025, further diversifying our global footprint. This is how we execute on a global scale, and this is how we build the future of decentralized finance.”
By Aduragbemi Omiyale
A Memorandum of Understanding (MoU) to support sustainable food production at a range of scales towards climate adaptation while protecting and preserving soil health, biodiversity, and water resources has been sealed between Olam Agri and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).
The deal provides a framework that will facilitate collaboration between the two organisations across staple agriculture supply chains that include rice, cotton, and rubber in developing markets in Asia, Africa, and Latin America.
The aim is to improve the livelihoods of smallholder farmers, provide them with access to key services and inclusive opportunities; and establish sustainability and traceability across agriculture supply chains, aligning with Olam Agri’s purpose to transform food and agriculture for a more sustainable and food-secure future.
For joint projects, GIZ and Olam Agri have identified six priority intervention areas: nutrition-sensitive regenerative agriculture; harvest and post-harvest loss reduction; access to finance for smallholders; economic inclusion and rights; management of crop residues and reuse; and ecosystem services, including protection and restoration of ecosystems and carbon initiatives.
Both partners will continue to identify topics relevant across value chains and regions to drive innovation and scaling, with possible cross-sectoral issues including climate and carbon credits, landscape-scale approaches, and digitisation.
“We’ve shared a strong and fruitful relationship with GIZ over the years during which we’ve made significant inroads in transforming smallholder farming in several supply chains across many geographies to be more productive, profitable, and sustainable.
“I am thrilled to be signing this MoU with such a valuable partner that is GIZ and commit to collaborate even further to scale up our sustainability programmes in developing and emerging agriculture economies,” the co-founder of Olam Agri, Mr Sunny Verghese, said.
Also commenting, the Managing Director of GIZ, Anna Sophie Herken, said, “The signing of this MoU with Olam Agri marks a pivotal step forward in our collaborative efforts towards sustainable food production.
“I am very happy and grateful that we can deepen and broaden our cooperation efforts simultaneously. We look forward to enhancing the scope and impact of our successful projects in climate-smart farming.”
By Adedapo Adesanya
Bitcoin (BTC), the world’s best-known digital currency, reached a fresh record high of $108,943 on Monday morning as Mr Donald Trump prepared to return to the White House.
The support from Mr Trump has boosted the crypto industry and after mentioning the asset’s record performance in a Sunday speech alongside gains in the broader US stock market, the prices have been heading north.
“Since the election, the stock market has surged and small business optimism has soared a record 41 points to a 39-year high. Bitcoin has shattered one record high after another,” Mr Trump said.
Business Post reports that some other tokens making gains include Ethereum (ETH), the second most valued coin which has gained 5.9 per cent to $3,349.93, Ripple (XPR) added 6.2 per cent to sell at $3.31, and Cardano (ADA) added 3.3 per cent to $1.07.
Mr Trump, who over the weekend launched a coin, has been vocal about his support for cryptocurrencies during his campaign and promised to make the US the crypto capital of the planet and create a strategic national bitcoin reserve, moves that have fueled investor optimism.
There are hopes that new policies and regulators will send the price of BTC and by extension, other coins much further this year as the US economy continues to show strength in the long term.
BTC reversed losses from earlier in the day when it fell to nearly $100,000 from a high over $102,000 on Sunday as incoming first lady Melania Trump issued a memecoin, drawing liquidity away from major assets.
Mrs Trump followed her husband’s lead by launching a multibillion-dollar cryptocurrency meme coin – briefly tanking the price of $TRUMP coin in the process.
A meme coin is a type of cryptocurrency inspired by trends such as internet memes with no inherent utility, and are often susceptible to price swings and crashes. Meme coins have been described by traders as a pure form of gambling and akin to buying a lottery ticket.
However, some crypto enthusiasts hailed the Trump meme coin’s release, saying it was symbolic of the incoming president’s support for an industry that felt unfairly targeted by the Biden administration.
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