💵 +50% Student Debt. Energy Consumption. Food Waste Emissions.
Chart of the Day #112 looks at US Student Debt, Energy Consumption and Food Waste.
India's largest 25 MW green hydrogen project in Vijayanagar, Karnataka to manufacture green steel is expected to be commissioned by Q4 of fiscal 2025. In the US, the education department approved an additional $613M in student loan forgiveness under President Joe Biden’s new SAVE plan. Azerbaijan, the host of COP29, is investing $2B in green energy projects to cut emissions ahead of the summit.
Today's Topics
💵 Student Debt. >50% increase in US student loan debt over the past decade
⚡ Energy Consumption. Qatar per capita energy use over 9x the global average
🥕 Food Waste. Wasted food is an emission source the size of the US and EU combined
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💵 >50% Increase in US Student Loan Debt Over the Past Decade
The value of outstanding student loans in the United States has increased steadily since 2006. From $481 billion in the first quarter of 2006, outstanding student loans reached $1.8T trillion by the first quarter of 2023, reflecting a nearly threefold increase. This highlights the rising cost of higher education, which can lead to lower enrollment rates due to an increased burden on borrowers.
⚡ Qatar Per Capita Energy Use Over 9x the Global Average
Qatar had the highest energy consumption per capita globally at 194 MWh in 2022, more than nine times the global average of 21 MWh.The United Arab Emirates is the second largest consumer at 147 MWh, followed closely by Singapore at 146 MWh. Several other countries including Iceland, Trinidad and Tobago, Kuwait, Canada, and Norway all have consumption rates above the global average.
🥕 Wasted Food Is an Emission Source the Size of the US and EU Combined
According to the UN Food and Agriculture Organization (FAO), around one-third of all food produced is either lost or wasted each year. In 2017, global food waste emissions reached 9.3 gigatons of CO₂ equivalent, surpassing the annual combined total emissions of the US and EU during that period and also each year till 2021. This significant waste occurs amidst a global hunger crisis affecting nearly 830 million people. To address this issue, the UN has outlined a sustainable development goal to halve global food waste in production and supply by 2030.
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