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IMO member states are meeting this week for critical talks to discuss how the carbon-intensive shipping industry can be regulated to meet its 2030 climate target of reducing its carbon emissions intensity by 40 percent compared to 2008 levels. It is a dynamic that has left environmental campaigners increasingly frustrated. .
Fossilfuels, a vision of the future or something our children will see in history books? The energy markets, broadly taken to be fossilfuels and renewables, have seen significant changes over the past years. Projections range between 2020 up to 2040, but all outlooks seem certain of this event within the next years.
Fossilfuel companies could face legal challenges over their misleading advertising, after a DeSmog investigation uncovered the extent of their “greenwashing” Environmental lawyers ClientEarth have put companies on notice with the publication of the Greenwashing Files. ExxonMobil – “Powering Progress”.
Banking giant commits to ending support for coal by 2040 after reaching compromise with shareholders. The board-backed proposal commits the bank to phasing out all project finance, corporate finance, and underwriting of coal-fired power and thermal coal mining by 2030 in the EU and OECD, and by 2040 globally.
and globally by 2040. The company, an early partner with the Ellen MacArthur Foundation, has positioned water and carbon emissions as equally critical in the climate crisis. Last year, Ecolab set a goal for net-zero carbon emissions by 2050, getting halfway there by 2030. LinkedIn | Personal website. million acres the 4.4
An Ikarus C42 aircraft piloted by Group Captain Peter "Willy" Hackett completed a 20-minute flight on the morning of 2 November using Zero Petroleum's ZERO SynAvGas 100 per cent synthetic aviation gasoline, as part of a joint mission to defossilise the RAF's fuel intake ahead of its 2040 net zero target.
To achieve the goals of the Paris Agreement, countries will likely need to set hard limits on the extraction of fossilfuels in addition to supporting the deployment of clean energy. The researchers set out to estimate how much of the world’s fossilfuel reserves must remain in the ground in order to limit global warming to 1.5
Most people seem to believe some form of carbon capture and storage (CCS) will be necessary, although many are stil sceptical of an arguably “unproven” and ambitious technology. The same report said the number of facilities must “increase 100-fold by 2040, and scaling efforts are just not happening fast enough.”.
Population growth will plateau after 2030-2040, causing energy demand to stabilize and decline afterwards. The current overcapacity in the oil markets will ensure a lasting shift in fossil markets. Renewables are already ridiculously cheap, with the cheapest forms of solar energy already at less than half the price of fossilfuels.
“They are donating all of this electricity they paid highly for in subsidies to other countries, often with negative prices,” said Jussi Heikkinen, director of growth and development for the Americas at Wärtsilä, a Finnish company that manufactures battery storage and flexible gas power plants.
Carbon Tracker deep-dive into the risks facing oil and gas investments is corroborated by study in Nature that warns overwhelming majority of fossilfuel reserves must stay in the ground to cap global temperatures in line with global goals.
Mr. Rockall highlighted a major global problem in which the fossilfuel solution is clearly better than the status quo. If we spend 10 percent of that every year, two and a half billion dollars between now and 2040, we could provide universal access to clean cooking in the world. James – What is it that makes a fuel clean?
A new report from McKinsey predicts global fossilfuel demand 'will never return to its pre-pandemic growth curve', but warns the world is still on track to badly miss its climate goals. The oil industry has been particularly badly hit.
The findings raise concerns over a systemic conflict of interest at a time when the international financial sector is under increasing pressure to stop funding fossilfuels. Banks are increasingly saying they will decarbonise by 2050, yet a large number continue to finance fossilfuels, the primary source of carbon emissions.
A minimum of 80TWh of hydrogen is needed to decarbonise shipping and the heavy goods vehicles, and the fuel could provide anywhere between 21 and 59 per cent of end user energy needs by mid-century. There is a widespread uptake in domestic electric vehicles, and growth and investment in hydrogen and carbon capture technologies too.".
The research, conducted by the non-profit Global Energy Monitor and shared with DeSmog, found thousands of cases in which high-profile corporations engage in lobbying in state capitols, hiring the same lobbyists that do work for powerful fossilfuel companies. A future that does have humanity living in harmony with nature.”.
A new Greenpeace report notes that Microsoft, Amazon and Google are undermining their public carbon commitments through by providing services that allow oil and gas firms extract fossilfuels from the earth.
Several ambitious pledges emerged to phase down fossilfuels, limit methane emissions, stop deforestation, and turbocharge the adoption of electric vehicles. CarbonNegative Shot is a U.S. Department of Energy–backed research effort to bring the cost of carbon removal below $100 a ton by 2030.
Insect protein developer has created a patented process for cultivating mealworm to produce low carbon feed for fish, pet and livestock. In addition, the firm said the new facility in France would be carbonnegative, and use a circular economy model than generates zero waste.
Advocates of BECCS argue that by sourcing sustainable biomass feedstocks for power plants and then capturing the resulting emissions, the technology can deliver both reliable renewable power and negative emissions.
The outlook for carbon capture and storage, both with gas and bioenergy, also appears to have improved significantly over the past four years. Under the low scenario offshore wind's LCOE could fall to a once inconceivable £36/MWh in 2040. In contrast, the projected LCOE for gas power, including carbon costs, has barely moved.
The influential analyst firm looked at 30 major corporates that have announced net zero goals across the utility, fossilfuel, technology, and materials sectors, but found huge variation in the level and scope of ambition, concluding that "no two net zero targets are the same". Credit: BNEF. or 2C boundaries.
Given the Paris Accord’s aspirations, the climate challenge facing humanity can be expressed in simple terms: halve annual carbon dioxide (CO 2 ) emissions by 2030, halve them again by 2040, and again by 2050. Here we focus on some aspects of land-use and negative emission technologies (NET) dependent on the land.
The letters, which are co-signed by CIFF's chairman Graeme Sweeney, argue the banks should "take more tangible actions" to end financing, underwriting, and other financial services to companies with significant coal activity, before ending such financing altogether by 2030 in OECD countries and 2040 elsewhere.
The Humber Estuary is the most carbon-intensive stretch of the UK, home to 55,000 jobs and a huge slice of British economic value, but it is also one of the most climate vulnerable regions in the country - BusinessGreen sat down with the people working to turn the region into a world-leading green hub. Developing a Zero-Carbon Cluster.
On September 19 Amazon announced that they would be participating in The Climate Pledge and promising to zero out carbon emissions by 2040. Consistent with the pledge Amazon has launched a new website that reports on its carbon footprint and other sustainability metrics. Any remaining emissions will be offset.
Alternative jet fuels or so-called “Sustainable Aviation Fuels” (SAF) are liquid hydrocarbon fuels that can be used with existing aircraft in place of kerosene produced from fossilfuels. The argument is that blending these fuels with fossilfuels would thereby reduce emissions.
The Treasury should set in stone a new fiscal rule for an annually-increasing carbon price in the UK, argues SSE chief executive Alistair Phillips-Davies. Ahead of COP26 in Glasgow I think it's imperative the Treasury installs a new fiscal rule: the need for an annually increasing carbon price.
It’s a recurring theme that somehow the livestock sector and eating meat is detrimental to the environment, that it is a serious negative in terms of the climate change discussions,” Hsin Huang, Secretary General of the International Meat Secretariat (IMS) , told his audience.
Tokyo-based cosmetics and consumer goods company joins The Climate Pledge, pledging to achieve net zero emissions by 2040. The announcement builds on previous targets from the company, which saw it commit to reducing carbon emissions to net zero by 2040 and become a carbonnegative company by 2050.
The alarm bells are deafening, and the evidence is irrefutable: greenhouse gas emissions from fossilfuel burning and deforestation are choking our planet and putting billions of people at immediate risk. Without deep carbon pollution cuts now, the 1.5-degree We need immediate action on energy.
Recent weeks have seen a new 2030 emissions target, the National Infrastructure Strategy, the Treasury's Spending Review, the confirmation of an end to overseas financing of fossilfuel infrastructure, and, of course, Boris Johnson's Ten Point Plan for a Green Industrial Revolution.
"It showed it was no longer acceptable to talk about greening your finance offering, or scaling up support for renewable energy, while still being perfectly comfortable to finance fossilfuels and other non-green sectors. Firstly, it urges alliance members to engage with high-carbon companies on their decarbonisation pathways.
The fossilfuel industry has bought itself half a century,” said Jennifer Jacquet, an associate professor of environmental studies at New York University, and author of The Playbook: How to Deny Science, Sell Lies, and Make a Killing in the Corporate World. Experts say that this narrative is misleading on multiple fronts.
Tech-enabled credits continue to constitute a big chunk of an anticipated $1T voluntary carbon market , and Oxy is on a development frenzy. Just this year, Oxy: Acquired DAC company Carbon Engineering for $1.1B Just this year, Oxy: Acquired DAC company Carbon Engineering for $1.1B
That is the upbeat conclusion of a major new report today, which argues that while the chemicals industry currently lags behind many other sectors of the economy in terms of climate action, it has the potential to reinvent itself as a critical climate solution and even become carbonnegative by 2040.
Oil and gas industry's bets on petrochemicals growth look increasingly dicey as world turns away from plastics, Carbon Tracker warns. BP predicts plastics will make up 95 per cent of growth in the sector through to 2040, while the IEA estimates it will account for 45 per cent of growth.
The pitfalls of that were exemplified by Mark Carney's recent - and widely derided - assertion that the Canadian investment giant he sits on the board of is already a 'net zero' company across its investment portfolio, despite that same portfolio containing billions of dollars of holdings in fossilfuel-related projects.
Oil and gas industry's bets on petrochemicals growth look increasingly dicey as world turns away from plastics, Carbon Tracker warns. BP predicts plastics will make up 95 per cent of growth in the sector through to 2040, while the IEA estimates it will account for 45 per cent of growth.
Renewables procurement, carbon credits, materials sourcing and supply chains, public advocacy, employee and consumer engagement, and nature protection were all covered in a wide-ranging conversation, which dove into the latest guidance from WWF on how companies can move beyond simply setting a net zero target. "So,
IMO member states will be meeting virtually for three days from Monday for critical talks to discuss how the carbon-intensive shipping industry can be regulated to meet its 2030 climate target of reducing its carbon emissions intensity by 40 per cent compared to 2008 levels.
By 2040, the latter is expected to double in Europe, and to account for almost a fifth of the global carbon budget worldwide. They added that, “while reusable packaging may be one of many potential solutions to explore further, we are concerned about the potential negative environmental consequences.”
Amazon announced, “The Climate Pledge calls on signatories to be net-zero carbon across their businesses by 2040 — a decade ahead of the Paris Accord’s goal of 2050.” AECJ wants Amazon to achieve carbon neutrality by 2030 and steer away from contracts with fossilfuel companies.
His areas of expertise include providing advice on greenwashing claims, sanctions risk, sustainability due diligence compliance, voluntary carbon markets, product labelling, and mandatory sustainability reporting, among others. BusinessGreen: What was your first role in the green economy and what attracted you to the sector?
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