July 9, 2021 - The REPLACE Project was presented at the JOINT SECAP workshop in Rijeka on June 23. There is no better way to end a year and a half-long Interreg project for Croatia, which was one more ecosystem-concerned cooperation between Italy and Croatia.
When it comes to energy efficiency in Croatia, there is no doubt anybody cares about it more than the scientific community working and associating with Energy Institute Hrvoje Požar (EIHP).
Not only is the EIHP building on its way to becoming the first nearly zero energy building in the whole of the country, but EIHP's expertise also plays a big role in REPLACE Project from Horizon Europe. As TCN previously covered, the project aims to make Primorje Gorski Kotar County energy-renewable territory, and the ongoing meetings about the project (in collaboration with the University of Rijeka) see slow but steady progress in those respects.
As EIHP reports on its website, June 23 saw REPLACE Project presented in the congress hall of Rijeka's Jadran Hotel as part of the final workshop of the JOINT SECAP project.
„On behalf of EIHP, Antonia Tomas Stanković presented REPLACE in the second half of the event. The goal is to support European energetic, climate, environmental, economic, and social goals by 2030 and 2050 by encouraging the gradual replacement of inefficient and outdated cooling and heating systems with new, energy-efficient systems based on renewable energy sources“, informed EIHP.
JOINT SECAP, part of Interreg Italy-Croatia strategic program (much like the CASCADE Project TCN previously wrote about) aims to improve the climate change monitoring and planning of adaptation measures tackling specific effects in the cooperation area.
„The project idea reflects the necessity to operate at a wider district level and better define strategies and actions for climate change adaptation, especially for those weather and climate changes and hydrogeological risks affecting coastal areas. The first phase is developed to build the common methodology for Joint Actions definition and implementation and to share the basic knowledge about issues concerning climate change adaptation strategies and energy efficiency measures. The second phase starts upon the analysis uploaded in the web platform, acting as a useful tool for the development of scenarios for the Joint Actions to be implemented in the Joint SECAP plans, those last constituting the main project deliverable“, explained JOINT SECAP on its website. The workshop in Rijeka was the conclusion of the project as JOINT SECAP ended on June 30 after it began on January 1, 2012, with a budget of € 2,094,857.
The workshop in Rijeka, writes the EIHP website, was organized by Primorje Gorski Kotar County Office for Regional Development Infrastructure and Project Management and by Kvarner Regional Energetic Agency. Representatives of local authorities of Primorsko-Goranska county that were enrolled in creating an Energetic and Climate Sustainable Development Action Plan. These local authorities include towns such as Opatija and Kastav and the districts of Čavle, Matulji, and Viškovo.
„Joint SECAP analyzed energy spending for the included towns and districts, their risks and vulnerability regarding climate change, yearly emissions of CO2 in sectors of building construction industry, public lighting, and traffic. Concrete measures with the goal of adjusting to the effects of climate change and CO2 emissions down to at least 55% by 2030 were suggested“, stated EIHP.
With measures identified, the race with time begins as these measures should be in place as fast as possible to tackle one of the biggest challenges humanity is facing, and Croatia isn't able to be isolated from the threat.
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June 4, 2021 - With the scientific community in Croatia busy and involved in international projects, meet the CASCADE Project. Learn how Italian and Croatian scientists are working together in monitoring ecosystems.
Croatian scientists in Croatia are running various projects which either don't get reported on by journalists, or if they are reported on, they sadly don't get too much attention from the public.
One such project is the Projekt CASCADE which started back on January first, 2020, and will continue until the very end of 2022.
As reported on the website of The Institute of Oceanography and Fisheries (IOR), the 5,817,547 euros, 85 % of that capital (4,944,914.95 euros) is secured by The European Regional Development Fund (ERFD).
CASCADE is short for „CoaStal and marine waters integrated monitoring systems for ecosystems protection and management“, and is part of the Interreg Italy-Croatia 2014-2020 strategic program. Assess the quality of coastal marine ecosystems in order to restore the habitats of endangered species and provide support for integrated management is the main goal set by 2022.
For the next three years, the project team from the Laboratory for Plankton and Shell Toxicity and the Laboratory for Chemical Oceanography and Sedimentology will work on monitoring, gathering knowledge about habitat and ecosystem biodiversity in the field of project cooperation (Adriatic Sea). It will participate in the establishment of new, as well as the improvement, of existing coastal systems for monitoring and management of coastal and open water ecosystems. Joint actions will assess and protect coastal and marine biodiversity and establish restoration actions. The pilot area of the Institute of Oceanography and Fisheries (IOR) within the EU CASCADE project is the mouth of the Neretva River“, explains the IOR website.
There are eleven pilot areas in Croatia and Italy where the researches will be conducted: lagoon Grado and Marano and Gulf of Trieste, coastal belt of the Italian region Emilia-Romagna, marine protected area Torre Guaceto (natural reef), Punta Della Contessa, Melendugno in the Italian region of Puglia, the mouth of the Neretva river, the coastal zone of the Italian region of Veneto, mouth of the river Miljašić Jaruga, coastal belt of the Italian region of Molise, the northeastern part of the Adriatic Sea in Croatia, mouth of the river Cetina, Torre del Cerrano and Pineto Marine Park on the Abruzzo coast, and finally, the coastal zone of the Italian Marche region.
„At the mouth of the Neretva River (P4 pilot area), the IOR team members will sample sediment, shells, and seawater, depending on the type of matrix, they will analyze various parameters such as salinity, oxygen concentrations, heavy metals, and nutrients, with the aim of establishing an optimal system of observation of coastal and open waters“, added IOR.
The head of the projects within the IOR side is Dr. Sc. Ivana Ujević and various Italian and Croatian regions/counties, regional development agencies, scientific institutes, and two ministries from Italy and Croatia are included as associated partners.
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June 3, 2021 - With climate change bringing trouble to the coast, coastal hazard monitoring is a must. Meet the new method developed by a research team led by a scientist from Ruđer Bošković Institute (IRB).
Individuals from the scientific Ruđer Bošković Institute (IRB) in Zagreb continue to catch the attention of internationally established scientific journals, such as Marine Science ranked in the top 10% of magazines for the issues of sea and water biology.
This time, IRB's dr. Cléa Denamiel led an international research team that presented an innovative concept of warning on coastal hazards with stochastic methods.
Authors at Standford.edu in a pdf presentation are presenting stochastic methods as methods that involve random variables. They gave an example of multiple arrows flying towards a rock from multiple directions. When they hit the rock, arrows are positioned randomly.
„Nevertheless, you can still use their positions to estimate the location of the target“, explained Standford.edu presentation.
So, the presentation further elaborated that „like using randomly-positioned arrows to estimate the position of a target, stochastic methods have the goal of gaining information out of randomness“.
„To put it simply, current systems of warning are based on numerical methods that require advanced informatical resources, living a huge carbon dioxide print on the environment, while with the suggested appliance of stochastic methods to optimize forecast of coastal hazards and greatly reduce the need for informatics resources while taking elements of coincidence into account“, explained IRB in its official press release.
This is very important as coastal areas are under the increasing influence of climate hazards, particularly sea-level rise. IRB states that its predicted hazards related to sea level directly impact around 630 million people around the world by 2100.
The new method of warning and quantifying data on coastal hazards presented by dr. Denamiel and her team is innovative as all current systems for such monitoring are much more complexed as they are based on numerical models from kilometer to the meter of clearance.“The suggested approach would require fewer resources while keeping or even improving forecasts and assessments of coastal hazards“, concluded, dr. Ivica Vilibić from IRB.
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June 2, 2021 - When TC editor Iva Tatić caught the fish nobody could identify, TCN reporter Ivor Kruljac jumped to action in the hope he will find a marine life scoop. But after the dramatic realization that Atlantic lizardfish is nothing spectacular, he became a journalist clickbait victim. Meet the mystery fish on Korčula.
It was early evening between 7 pm-8 pm on the eastern Korčula coastline on May 28. After a long week of handling the Total Croatia site, TC editor Iva Tatić decided to chill and went fishing. Instead of managing the multilingual site that brings you the best tips on how to travel and enjoy Croatia, she must've been happy with the idea she can enjoy in Croatia herself, as she was preparing two hooks – one with a squid and the other with the piece of bread. Marine life must be very humble cause instead of a squid (absolutely delicious, either fried or grilled and stuffed with swiss chard), the bread was the taken bait for the careless fish soul underneath the Adriatic surface.
Iva took the opportunity and caught its prey, but pretty soon, happiness for the catch was additionally spiced with curiosity.
the source of curiosity and happiness © Iva Tatić
„What the hell is this?“ Iva asked the local Korčula fishermen showing them her catch.
And „no idea“ was the consensus by other marine life hunters.
„Locals call it the spider“, said a local fisherman known as Pero to Iva. „It looks like Spiderman“.
Iva didn't feel that Spiderman is an accurate comparison, and as no one really knew the answer, the whole thing went online.
After Iva shared the photos of its catch on Facebook, the online jury narrowed the mystery to two possible suspects: Saurida and Atlantic lizardfish.
Still being new and wanting to gain recognition in the newsroom, I took on myself to investigate what exactly is this Aquaman-Spiderman-love-child. Perhaps it's something invasive, a threat to the lovely Adriatic, and a fantastic journalist story.
The case, the challenge, the scoop © Iva Tatić
Word on the expert street
A little bit of browsing through the pages of Rovinj Sea Research Centre (CIM), and a few calls, led me to the CIM Senior scientific associate, dr. Andrej Jaklin.
„It looks like Atlantic lizardfish, I saw that fish in person on Pelješac 15 years ago“, said Dr. Jaklin on the phone while looking at the images of the catch I sent him.
Jaklin's memory also seems fit with Pelješac being close to Korčula Island. Still, he said he can't really tell me too much about the fish and recommended it to me to contact dr. Marcelo Kovačić from the Natural History Museum Rijeka. However, dr. Kovačić, a curator for vertebrates, was on vacation, so the call was picked up by Milvana Arko-Pijevac, curator for marine invertebrates.
„I think this could be an Atlantic lizardfish, the head looks like it should, but I'm specialized for invertebrates, mollusks and shellfish“, said Silvana Arko-Pijevac.
So until that point, two experts for marine bio life are certain this is an Atlantic lizardfish (Synodus saurus). Fish, from Atlantic, I thought. Are we talking about an invasive species that manage to come to the northern dead-end of the Mediterranean all the way from the Atlantic? If so, is it hazardous to the domestic sea life of the Adriatic?
Despite recognizing the fish, neither Jaklin nor Arko-Pijevac couldn't say more details, but it's worth noting that the scientific community can once again serve as a role model to everyone who thinks they are experts on everything (both in Croatia but a trend we see spawn worldwide). Instead, my interlocutors accepted and pointed out the limits of their knowledge and suggested me someone who knows more.
Clickbait: It's not just for journalists anymore!
It took me a while to reach Dr. Jakov Dulčić from the Laboratory of Ichthyology and Coastal Fishery at the Institute of Oceanography and Fisheries in Split. First, he was not in the office, and later, he was at a meeting. But, with Arko-Pijevac's claim that Dulčić is the best ichthyologist in all of Croatia, it was worth the wait.
Finally, my mobile phone impulses from Zagreb caught dr. Dulčić in Split, and I excitedly asked him for help. To identify and say a bit more about the mysterious fish fishermen in Korčula failed to recognize, but is suspected to be the Atlantic lizardfish.
„I have to see the photos to say for certain“, said Dulčić.
„I already sent them to your e-mail before this call. Can you please refresh your E-mail?“, I asked with hearable excitement in my voice and suspense in my gut.
The suspense only grew as Dulčić was opening the e-mail.
„Found it!“, he said and I almost screamed out of excitement,
„Yes, indeed, that is the Atlantic lizardfish“, confirmed Dulčić with a relaxed voice while I was ready to ask tons of questions about this weird and possibly invasive species.
„But that is neither exciting nor anything special to catch in the Adriatic“, continued Dulčić with the same chilled tone.
I listened to that sentence with a blank expression fortunately, nobody has seen it except the walls in my apartment.
„You might think it's unusual in Croatian waters because of its name, but it's the normal fish that lives in Adriatic“, added Dulčić.
I couldn't help but think what a sour poetic justice. Being a journalist, a member of the profession in which some of my colleagues try to catch views by clickbait, to be hooked (pun intended) on a clickbait in scientific terminology.
„They can be found across the Adriatic sea, everywhere in Croatia. Their population used to be smaller in the previous years, but it recently got larger. It seems they have certain cycles, but it's nothing spectacular“, he concluded.
„But how come none of the fishermen recognized it?“, I asked puzzled.
„Interestingly enough, it is often caught, but it can rarely be seen on the fish market, and that's a place thanks to which you can usually recognize fish“, explained Dulčić.
However, informing and educating fishers and the general public about marine life in the Adriatic is something dr Dulčić and the Oceanographic Institute are very dedicated to.
Presenting you the Atlantic lizardfish © Iva Tatić
This is evident by the LEKFishResCRO project.
„This project will address the need to improve knowledge on the trends in Adriatic fisheries with novel methods as well as to acknowledge recent changes in fish biodiversity in a complex Adriatic ecosystem. The central objective of the project will be to evaluate the potential use of the LEK in developing the knowledge base for fisheries management and conservation. The strategy employed for this evaluation will be a two-way discussion between fisherman and other stakeholders from one side and fisheries biologists from another side around the subject of what sorts of indicators of ecosystem health would make sense in light of both the LEK of the fishers and the research-based knowledge (RBK) of the fisheries biologists“, says LEKFishResCRO website, and with loads of materials, you can check yourself.
„We collaborate well with fishermen, we work on their education, and with their tips and images they sent from the field we quickly gather research data“, explained Dulčić.
The invasive species are legitimately a threat to Adriatic, and it comes from the Red Sea through Eastern Mediterranean, but these examples are excellent topics for some other articles.
In the meantime, the mystery fish is identified as a mainstream species in the Adriatic. Somewhat newsworthy (maybe?), but this time my ship returned without a scoop from the stormy cruise in the sea of information.
I sent a message to Iva explaining what she caught (which she already found out on her own, she is a good journalist after all), and I only confirmed that she can unfreeze it and eat it safely. Additionally, I found this recipe at least.
Korčula and Adriatic Sea, Pixabay
Enjoy the Adriatic, but respect marine life
In an attempt to conclude this investigative piece (let's pretend it is one, please) on a socially responsible and eco-friendly note, I asked dr Dulčić if there are any type of fish tourists and locals shouldn't fish because it's on the verge of extinction and if caught it should be returned to the sea immediately. „Such fish is living in areas and conditions where you can't catch it with hooks or nets. But Do not dive out noble pen shells (Pinna nobilis), or disturb mammals such as dolphins. And be careful around sharks and jellyfish“, concluded dr. Dulčić.
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May 29, 2021 – Close to Lastovo Island in the Dubrovnik archipelago, a local fisherman discovered a living specimen of the noble pen shell in Croatia.
The title of this text would not be very interesting just a few years ago. Noble pen shells are some of the most beloved bivalves of the Croatian part of the Adriatic. They are popular with scuba divers and snorkelers because of their impressive size and beauty. Unfortunately, last year saw a massive dying-off of noble pen shells in Croatia.
It started five years ago in Spain. The mysterious disease killed off almost the entire population of noble pen shells in the Mediterranean. Tportal reports, Croatian Veterinary Institute (HVI) is researching the causes of the ecological disaster. A parasite called Haplosporidium pinnae in combination with micro bacteria is the most likely culprit. According to Zeljko Mihaljevic, pathologist and epidemiologist of HVI, this discovery is very reassuring. The Southern Adriatic seems to have lost virtually its entire population of noble pen shells. Any surviving specimens are very interesting to observe. They might have immunity that is potentially very important for the continuation of the research.
Observe and Report
He also went on to ask anyone who spots any noble pen shells in the Adriatic to check if they are alive. Simply passing your hand over the shell should make it close. It is sensitive to the commotion in the water. Any living specimen should be reported to the Ministry of Economy and Sustainable Development. Their central contact number is +385 1 3717 111.
Noble pen shell, also known as fan mussel, can be over a meter in length. They usually grow upright on sandy bottoms. It is endemic to the Mediterranean region and the biggest bivalve in the Adriatic. They are a good indicator of sea cleanliness. The Croatian government is enacting a program that aims to slowly re-establish the population of noble pen shells. It will not be an easy nor a quick process. Diving lovers in Croatia are hoping to once again enjoy the view of these darlings of the Adriatic.
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May 26, 2021 - With Energy Institute Hrvoje Požar (EIHP) being the lead partner, the REPLACE Project from Horizon Europe steadily continues the progress of renewable energy for the Kvarner region.
Earlier in January, TCN wrote about Croatian energy development, whose goal is to be based on clean technologies. And that it's not all empty talk, as shown by the third meeting of a local workgroup enrolled in the REPLACE Project. As Energy Institute Hrvoje Požar (EIHP) reports on its website, the REPLACE Project has a goal of supporting European energetic, climate, environmental, economic, and social goals with the deadline until 2030 and 2050.
As part of the OBZOR 2020 (Horizon Europe) EU program for research and innovations in the 2014-2020 time frame, the REPLACE Project receives EU funding. Twelve partners from nine countries participate in the project, and EIHP is in charge of the project activities in Primorska-Goranska county. In support of European goals, the plan of REPLACE Project is to gradually switch the current ineffective and outdated heating and cooling systems with new efficient systems which rely on renewable energy.
The meeting held at the Faculty of Economics at the University of Rijeka saw Dražen Balić, Antonia Tomas Stanković, and Lea Leopoldović from EIHP hold lectures presenting results of the first period of the project, but also the plans for future activities. The accent was put on implementing campaigns and collective actions supported by the members of the local workgroup. Energetic poverty, gender aspects, and „lock-in effect“ (an economic practice, where a company makes it extremely hard for their customers to leave them, even if the customer wants to) are the obstacles the project runners are aware of and were explained in greater detail. Another thing that stood out in the presentation was the presentation „Technology of Blue Energy in Croatia“, which presented modern technologies used in heating and cooling in coastal areas, and applicable to the Primorska -Goranska county.
Key institutions in the regions such as REA Kvarner (regional energy agency), Energo Rijeka (gas and heat energy provider), representatives of the Primorska-Goranska county, OIE Hrvatska (The economic-interest association The Renewable Energy Sources of Croatia - RES), and Rijeka Consumer Centre were present at the meeting, showing that the motivation to bring energy efficiency in Primorska-Goranska County is in its full strength. Both on corporal, political, and expert levels.
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May 18, 2021 - The Rovinj Sea Research Centre turns 130 in 2021. It is the place in Croatia for oceanographic research and all things science related to the preservation of the sea and maritime life.
Established back in 1891 as Berlin's Aquarium Zoological Station, the research Institute is known today as the Rovinj Sea Research Centre (CIM), and last week it celebrated 130 years of work. An affiliate of the Ruđer Bošković Science Institute (IRB), that institute recently reported that CIM currently has 54 employees working in four laboratories, and the centre is heavily involved in numerous impressive scientific projects.
''This includes five projects of the Croatian Science Foundation (HrZZ), worth 5,855 635 HRK, three projects financed within the INTERREG cross border programme (worth 1,326 000 euros), three projects with European structural and investment funds (7,189 531 HRK), and two projects financed within the EU programme for research and innovations, OBZOR 2020, valued at 179,360 euros,“ says the IRB official website.
The section of the IRB page dedicated to CIM adds that the centre offers a multidisciplinary take on the research of the sea, offering both basic and applicable oceanographic research. This includes six areas of interest: processes and dynamics in the food chain, examining the dynamics of water masses, ecology (species and the interrelations of species in both clean and in polluted waters), sea organism research (ecological, physiological, and genetic features of organisms, and a pollution effects study), the monitoring of pollution and sea quality, and finally, the monitoring of eutrophication (a process in which the environment becomes enriched with nutrients which can trigger the development of algae and cause an imbalance in the ecosystem).
Set in the beautiful town of Rovinj on the Istrian peninsula because of the clear waters of the Adriatic sea, CIM is on a mission to preserve marine life and its biodiversity.
CIM truly has a rich tradition, having conducted international systematic research and monitoring of the marine ecosystem of the Northern Adriatic for over 30 years. ''This approach became a model for the regional organisation of the European systematic monitoring of the coastal sea,'' says IRB.
IRB adds that in this long tradition, the Croatian science programme of monitoring the Northern Adriatic played a huge role. Having begun fifty years ago, it developed into the Jadran Project, making Croatia one of the first countries in all of Europe to have developed a systematic approach to the monitoring of the sea.
''Additional confirmation of the tradition and scientific quality of CIM can also be seen in the recent joining of CIM to JERICO – the Joint European Research Infrastructure network for Coastal Observatory, making CIM a partner of some of the most famous European Institutes“, concluded the IRB's explanation.
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May 5, 2021 - With ecology being the key to survival, the Ruđer Bošković Science Institute combats climate change by developing a new material known as CuZn-MOF-74.
The pandemic is nasty, the nuclear holocaust is a scary thought, but greenhouse gases remain an omnipresent potential for the death of us as they trigger climate change on whose negative effects scientists have been warning us about for decades.
Like the United States, the Environmental Protection Agency informs on its website, these gases trap the heat in the atmosphere, which in terms raises the temperature we experience.
The website lists the main types of these airier troublemakers:
CO2 (Carbon dioxide - enters the atmosphere through burning fossil fuels (coal, natural gas, and oil), solid waste, trees, and other biological materials, and also as a result of certain chemical reactions. It is removed by plants that use it for photosynthesis – a process that provides food for the pants and oxygen for other beings).
CH4 (Methane-emitted during the production and transport of coal, natural gas, and oil. Methane emissions also result from livestock and other agricultural practices, land use, and the decay of organic waste in municipal solid waste landfills).
N2O (Nitrous oxide - emitted during agricultural, land use, industrial activities, combustion of fossil fuels and solid waste, as well as during treatment of wastewater).
Last but not least:
Fluorinated gases ( such as Hydrofluorocarbons, perfluorocarbons, sulfur hexafluoride, and nitrogen trifluoride are synthetic, powerful greenhouse gases that are emitted from a variety of industrial processes. Fluorinated gases are sometimes used as substitutes for stratospheric ozone-depleting substances. These gases are typically emitted in smaller quantities, but because they are potent greenhouse gases, they are sometimes referred to as High Global Warming Potential gases)
Each of these gases can stay in the atmosphere for a very long time, and transferring these gases into something else is a challenge to beat. Fortunately, at least for carbon dioxide, we might be getting closer to the solution than we think.
Pixabay
Ruđer Bošković Science Institute (IRB) in Croatia reported on its website that they are at the brink of a new material that can selectively transform carbon dioxide into methanol alcohol. The green chemists in Zagreb were closely cooperating with colleagues from the Slovenian Chemical Institute (KI), and McGill University in Canada. The results of their mutual research, in a more further scientific detail, are published in a scientific article on the prestigious ACS Publications.
But in the summarization, doctoral candidates Tomislav Stolar and Valentina Martinez, alongside dr. Bahar Karadeniz, under the lead of dr. Krunoslav Užarević (IRB), and dr Tomislav Friščić (McGill University) developed a bi-metal proposal coordination material known as CuZn-MOF-74. The layman speaking complex name is owned to the fact it's made from copper (Cu) and zinc (Zn) using a mechanic-chemical method of making bi-metal metalorganic networks known as MOF-74. As TCN previously reported, that method is an environmentally sustainable synthetic strategy that is further elaborated in a scientific article in 2019.
The catalytical properties of this material were tested KI in Ljubljana with the help of the scientists from the Institute: dr. Blaž Likozar, dr. Gregor Mali, dr. Ana Bjalić, and Anže Prašnikar.
The results have shown that this material has a modest catalyst (meaning it speeds up) activity to synthesize methanol, and post-reaction presented the scientists with a non-porous material which showed multiple enhancement of both catalyzation and selection for methanol synthetization.
„This research is a good example of multidisciplinary and international collaboration between strong research centers in the region. To me, as a young scientist, it's important that I can work on the current issues, such as transforming carbon dioxide into methanol, thanks to the guidance of dr. Užarević. There is a big potential for switching to sustainable chemical processes through the program of European Green plan, and research in that field should be the priority“, said the lead author Tomislav Stolar, a doctoral candidate in the IRB's laboratory for green synthesis.
The IRB official website added that the search for an effective catalyzation to transform carbon dioxide into methanol is the focus of scientists worldwide. Methanol could also be then used as a fuel and replace the current fossil products.
Today you already have the term „Methanol Economy“ that predicts methanol will impose as the vital compound to store energy, as a fuel, and a source of carbon to synthesize valuable compounds. Efficient synthesis of methanol from carbon dioxide presents an example of sustainable chemical reaction of added value, and with great economic potential“, concludes the press release on IRB.
Apart from IRB scientists combating climate change, Croatia takes care of the environment, particularly national parks on whom you can learn more on our TC page.
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ZAGREB, 29 April, 2021 - Most banks in Croatia still do not see climate change as a serious threat to their business, a survey carried out by the Croatian National Bank (HNB) showed on Thursday.
The survey was presented as part of an online conference called "The Role of Banks in Greening Our Economies", organised by the HNB and the European Bank for Reconstruction and Development (EBRD).
The survey, carried out among 20 Croatian banks, showed that the banks did not see climate change as an immediate and serious threat to their business.
Only one bank said that climate change would have a generally significant impact on the Croatian banking system, 11 banks said that the impact would be moderate, while eight said that it would be insignificant.
Only two banks have a climate change-related strategy included in their overall business strategy, expressing concern about risks and anticipating possible changes to the regulatory framework. On the other hand, 15 banks said they were waiting for the regulators to take the initial steps in this regard.
Responding to the question about risk materialisation, 10 banks said that climate risks would not materialise in the near future, while 11 said they were not attaching major importance to exposure to climate change and environmental risks to their portfolio.
Physical risk includes the financial impact of climate change, and five sectors in Croatia are particularly vulnerable to it - tourism, agriculture, forestry, fisheries and energy distribution. More than a quarter of Croatian banks' exposures to non-financial institutions concern these sectors, mostly tourism, the survey showed.
However, none of the banks has so far assessed its exposure to climate and environmental risks, citing lack of reliable data and methodology as well as lack of qualified staff.
The sectors facing the biggest transition risk from climate change are transport and traffic, agriculture, motor vehicles, energy and oil products, and construction.
Only 9 banks offer green product to their customers
Most banks recognise opportunities brought by the transition to a low-carbon economy, with three-quarters of them saying they could benefit from this transition by financing green projects. However, only nine banks said they were offering a green product to their customers, such as loans for the energy renovation of buildings or the purchase of electric vehicles.
HNB Governor Boris Vujčić said in his opening remarks that both the HNB and EBRD had acknowledged their responsibility for highlighting the role of banks in the climate transition. He recalled the Paris climate change agreement of 2015, which has been ratified by 189 countries, saying that it set ambitious goals to reduce greenhouse gas emissions and prevent further global warming.
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ZAGREB, 21 April, 2021 - The foreign ministers of Slovenia, Croatia and Italy signed in Brdo Pri Kranju, Slovenia on Wednesday a joint statement on the protection of the northern Adriatic, after plenary talks on joint cooperation in that area.
Speaking to the press after the signing, Anže Logar of Slovenia said that he, Gordan Grlić Radman of Croatia and Luigi di Maio of Italy endorsed conclusions on strengthening the three countries' cooperation in the protection of the Adriatic, which he said was the basic framework for strengthening cooperation in areas of common interest.
Last year Croatia and Italy announced the proclamation of exclusive economic zones in the Adriatic, including Slovenia in consultations on the matter. Slovenia, which under international law does not have the right to do the same, assessed that as a positive move by its two neighbours.
Early this February, the Croatian parliament proclaimed an exclusive economic zone in the Adriatic, giving Croatia additional rights in relation to the Ecological and Fisheries Protection Zone declared in 2003 to build artificial islands and exploit the sea, wind and currents in that zone in line with the UN Convention on the Law of the Sea.
At a meeting in Trieste on 19 December, the three ministers adopted a joint statement in which they share a vision of the sea as a bridge uniting all the peoples in this area and a source of progress for all. They were agreed that the Adriatic, as a closed sea with intensive traffic and a vulnerable eco-system, needs an integrated approach to environmental protection and sustainable development.
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