Naples, FL – September 26, 2019 – Sustainable Projects Group Inc. (OTCMKTS: SPGX) (SPGX), identified American policy concerns related to the harvest and production of peat moss. According to a report released today, Peat Moss: The Gift That Keeps on Taking, the availability of peat moss and its associated applications have detrimental economic, environmental and security implications for the United States and international community. The company names TEFA™ as the most viable, sustainable substitute for natural peat moss.
Peat moss is a renewable non-sustainable resource. Undisturbed, peatlands function as robust carbon sinks due in large part to the resource’s acidic pH and water retention qualities. When harvested, however, stored carbon released into the atmosphere deals a significant blow to global emissions standards.
Found predominantly in the Baltics and Canada, American farmers rely on imports from Canada to supply 70 percent of all peat moss used in U.S. horticulture. For reference, Finland produced an estimated 21.8 billion pounds of peat moss in 2018, while the United States produces, on average, just around 1.1 billion pounds annually. According to USGS data, the U.S. must supplement domestic peat production with an estimated 2.5 billion pounds of foreign peat.
“With all eyes on New York City at the United Nations General Assembly, we cannot ignore the role of peat moss in climate change,” stated CEO Stefan Muehlbauer. “In fact, a growing number of European countries have established regulations on peat. Ireland, for example, recently announced the closure of seventeen bogs following the implementation of a UD$24 billion climate action plan,” he added.
SPGX calculates a 37 percent decrease in global peat production by 2050owing to environmental concerns for carbon emissions. By the same time, the population is expected to reach 9.7 billion people and as the world’s largest food supplier, the report points to a heavier burden on American consumers and concerns for global food shortages.
The report finally addresses the potential for TEFA™to offer relief for struggling American farmers. The process relies on American farmers to harvest, store and supply spent corn waste for production. Farmers benefit from an entirely new, unobstructed revenue stream. While the U.S. Department of Agriculture confirmed 2019 to be the worst planting season on record, CEO Stefan Muehlbauer believes “the innovative process through which TEFA™ is produced is a win-win-win for all stakeholders.”
To read the full report, click here.
About Sustainable Projects Group Inc.
SPGX is positioned to become a world-leading project incubation and development company through value-based investments and collaborative partnerships with global leaders across the sustainable and social-responsibility sectors. Sustainable Projects Group Inc. has initiated its goals by pursuing investment and partnerships with some of the most diversified and integrated companies active in the market.