The amount of pollution that is created by humans has had a major impact on the environment. It has caused a variety of different negative effects, from the destruction of natural habitats to the degradation of air and water quality. Human activity has caused a significant deterioration in the environmental condition worldwide, with many of the natural resources being exhausted or polluted. There is an urgent need for people to take responsibility for their actions and be more mindful of the consequences of their choices in order to protect the planet and ensure its sustainability.
On Monday, Goldman Sachs Asset Management revealed the initiation of a biomethane enterprise called Verdalia Bioenergy, with plans to allocate more than 1 billion euros ($1.08 billion) in Europe over the upcoming four years.
Organic waste can be broken down to create biomethane, an option that is lower in carbon dioxide than traditional natural gas. This has been identified as an important strategy for reducing emissions in the European Union.
An investment of 80 billion euros is necessary to exponentially boost EU-based production of biogas and biomethane to a level of 370 terawatt hours annually by 2030, allowing for better decarbonization and more secure energy.
On Monday, Verdalia Bioenergy declared its plan to invest in both existing and early-stage biomethane development projects. This is to support Europe's decarbonisation and energy security initiatives.
An agreement has been concluded to acquire a portfolio of biomethane projects with a yearly aggregate capacity of approximately 150 GWh/yr which are currently in the middle of the development process in Spain.
According to Matteo Botto Poala, a managing director in GSAM's infrastructure business, biomethane has become a particularly attractive area for infrastructure investors looking to transition to renewable energy.
Biomethane can be utilized in the same fashion as traditional natural gas and can be transported through the same pipelines. The added benefit is that it produces a much lower amount of greenhouse gas emissions than its counterpart.
The European Biogas Association has reported that biogas and biomethane production has already generated 210,000 green jobs in Europe and is saving an estimated 60 million metric tons of greenhouse gas emissions yearly.
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