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It feels almost quaint to remember way back when "80 by 50" — an 80 percent reduction in greenhouse gas emissions by 2050 — was a bold goal for a company or government entity to make. For those not yet up to speed, net zero refers to the goal of emitting no greenhouse gases by a specific date, typically 2050. Joel Makower.
The Rocky Mountain Institute (RMI) is banking on banks to get us over the carbon-neutral finish line by 2050. . BofA, Goldman, JPMorgan, Wells Fargo launch center for climate-aligned finance. Jesse Klein. Thu, 07/09/2020 - 00:01. But pressure is mounting for the banks to overhaul their lending practices holistically.
Exploring Hondas Commitment to a Hydrogen-Powered Future Hydrogen technology is increasingly seen as a crucial element in reducing carbon emissions, and Honda is bringing its long-standing expertise into the spotlight. Honda has outlined ambitious goals to transform its entire product lineup toward zero emissions by 2050.
We cannot rely on linear developments and a steady energy transition over the next 30 years to 2050,” according to William Gillett, Energy Programme Director of the European Academies’ Science Advisory Council (EASAC). The biggest source of GHG emissions in the EU is the use of fossilfuels in industry, buildings and transport.
When powered by renewable energy, like wind or solar, this method generates “green hydrogen”a sustainable and carbon-neutralfuel. As sectors like heavy industry and long-distance transport wrestle with reducing their carbon footprints, hydrogen provides one of the most viable alternatives to fossilfuels.
One novel spin on emerging hydrogen fuel options is "clean hydrogen" made from trash. . Still, there is potential for clean — low- or zero-carbon — hydrogen to take off, energy experts believe. Clean hydrogen could cut greenhouse gas emissions from fossilfuel by up to 34 percent, reported Bloomberg New Energy Finance. .
Germanys 5 Billion Hydrogen Subsidy Scheme Marks a Milestone in Green Energy Transition The European Union has given the green light to Germanys 5 billion subsidy scheme aimed at decarbonizing industrial production processes through hydrogen, carbon capture , and electrification.
Thanks to converging forces — including supportive policies, dropping battery costs and aggressive climate goals — transportation leaders at large and small organizations are increasingly turning to new zero-emission and low-carbon options that decarbonize fleets and in some cases save money. Media Authorship. Anheuser-Busch. Anheuser-Busch.
When shipping giant Maersk announced last month it would operate a “carbon-neutral” vessel by 2023, the Danish company committed to using a fuel that’s made from renewable sources, is free of soot-forming pollutants — and is currently in scarce supply. E-methanol is made by combining hydrogen with carbon dioxide.
Most of these emissions come from the electricity consumed in Twitter’s data centers, located in countries where electricity generation is still heavily dependent on fossilfuels. It is entirely possible that carbon emissions only skyrocket further””, indicates Tommy Catherine, expert at Greenly’s Carbon Institute.
This initiative aims to reduce carbon emissions at BPs Castelln refinery, ultimately transforming it into an integrated energy center. The hydrogen will serve BPs refineries and external industrial clients in Europe, providing a clean alternative to carbon-intensive fuels.
Producer of Bulleit, Guiness, Smirnoff, Johnnie Walker and other beverages has committed to net zero by 2050 and 100 per cent renewable power by 2030. But Diageo's new 72,000-square-foot distillery is designed to be completely 'carbon-neutral'. Even whiskey is going electric. It's not every day you get that opportunity.".
One of the world’s largest oil and gas companies is betting that the future of flying is carbon-neutral. That may seem an audacious notion from a company whose business model for well over a century has centered around bringing fossilfuels to market — and is banking on petroleum being a key, albeit declining, fuel for decades to come.
The event aims to bring together policymakers and liquified natural gas (LNG), natural gas, and hydrogen players to explore new avenues for fossilfuel expansion. So they’re just going to try and squeeze out every last bit of profit they can and give it fancy new names like carbon capture and sequestration. It’s not new.”
Reaching Net Zero operations by 2050 will require huge changes in industrial practices – such as how we use energy and source raw materials – but despite all the challenges, the target is achievable writes Rob Jenkinson. As such, it has an ethical imperative to adopt practices that lead to carbonneutrality. New approach.
With Europe aiming for carbonneutrality by 2050, hydrogen features prominently in the regions energy strategy. With hydrogen potentially reducing dependency on traditional fossilfuel imports, GASCADE’s pipelines could play a vital role in stabilizing energy markets amidst geopolitical challenges.
Italian gas and energy infrastructure giant Snam has set its sights on becoming a carbonneutral company by 2040, pledging to invest €7.5bn over the next four years in hydrogen, biomethane, energy efficiency, and digitisation to help drive its transition away from fossilfuels.
These investors have bought “green-labelled” bonds issued by Eni, Italy ‘s largest – and the world’s 13th largest – fossilfuel company. The problem is that these bonds may well be funding carbon-emitting activities, undermining the very energy transition and climate goals that Eni claims to support.
Researchers at the University of Sheffield are exploring new exhaust aftertreatment systems for heavy-duty engines capable of running on clean, zero-carbonfuels such as ammonia. In addition, diesel engines burn fossilfuels releasing carbon dioxide, a greenhouse gas (GHG), as well as other pollutants, such as nitrogen oxides (NOx).
Even with decarbonizing the electric and transportation sector, to reach long-term goals of the Paris Agreement, the United States would need an 80 percent reduction from 2005 levels in economy-wide emissions by 2050. The only cost to the customer is a newly lowered fuel cost amount, he said.
Many celebrated with their CSOs on meeting ambitious corporate targets for 2020, while setting audacious new goals for 2025, 2030 and 2050. The company, an early partner with the Ellen MacArthur Foundation, has positioned water and carbon emissions as equally critical in the climate crisis. LinkedIn | Personal website.
Senior figures in charge of the Church of England’s investments have close current or past ties to high-carbon companies including Shell, Drax and BP, DeSmog can report. Yet three years later, the Church continues to hold shares in Shell, TotalEnergies, and ExxonMobil – all of which are planning significant fossilfuel expansion.
It also looks at the persistence of fossilfuels in its energy mix. On the other hand, DNV forecasts fossilfuels will still account for 40% of its energy mix in 2050. Natural gas consumption will remain high with 2050 consumption marginally below 2023 levels and 58% being imported.
Fossilfuel companies are pressing ahead with new oil and gas developments, despite a recent warning from the International Energy Agency (IEA) that this will make the Paris Agreement goals impossible to meet, an analysis has found. The company was “leading in carbon efficient production of oil an gas,” she added. o C target.
utilities in setting a net-zero carbon target for 2050, aiming to balance the emissions from its sizable fossilfuel-fired generation fleet and sprawling natural gas business with reductions to be gained by expanding its portfolio of renewable energy and energy efficiency. Counting on 'negative carbon' solutions.
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”.
Clean energy generated more electricity than fossilfuels in the EU over the first six months of 2020, largely due to a raft of new solar and wind installations dominating an electricity market pinched by Covid-19, new findings have shown.
Renewable energy sources generated more electricity than fossilfuels in the U.K. for the whole of the third quarter, the first time that has happened, according to research by the Carbon Brief. insisting that it could manage a carbonneutral grid as early as 2025.
Nearly two thirds of social media posts put out by six major European fossilfuel and energy companies since the end of 2019 present a “green” image of the company, despite the majority of their business activity remaining in fossilfuels, reveals new analysis by Desmog.
The initial 50 MW phase will produce 9,000 tons of green hydrogen per year, enough to displace 20 percent of the refinery’s existing fossil-fuel derived hydrogen. By 2030 BP hopes to have 10 percent of the clean hydrogen market in “core hydrogen markets” as it chases carbonneutrality by 2050.
DeSmog analysed examples of more than 100 influencers being paid to promote fossilfuel firms worldwide since 2017, from the US to Malaysia, in campaigns that have reached billions of people. While there’s more knowledge in general around climate change and the harms of fossilfuels, I think that people have a lot of trust in creators.
The paper comes ahead of this November’s United Nations Climate Change Conference in Glasgow, Scotland and amid proliferating pledges from polluting corporations and governments to achieve what they claim is carbonneutrality — increasingly via dubious offsets — by some distant date, often the year 2050.
Shell is chasing carbonneutrality by 2050 or sooner and the project in the Netherlands offers a glimpse of how it hopes to get there. “It will also be another important next step in our ambition to become a net-zero emissions energy business by 2050 or sooner, in step with society.
Despite popular belief, electrification does not always lead to a reduction in carbon footprint. To generate electricity, we require energy and 65% of this energy is currently coming from fossilfuels. Similarly, the US and Canada have targets to double electricity consumption and be carbon-free or net-zero by 2050.
bank to commit to net-zero emissions generated from its financing activities by 2050. . AT&T pledged to be carbon-neutral by 2035, a step up from its previous goal to reduce Scope 1 emissions by 20 percent and Scope 2 emissions by 60 percent. Morgan Stanley became the first major U.S. Take Amazon, for example.
This integration is expected to facilitate distribution to industrial hubs and accelerate Europes transition towards a low-carbon economy. This funding will advance its hydrogen and CO initiatives across Europe, including the development of hydrogen tank prototypes and enhancement of carbon capture solutions.
However, the shipping sector is estimated to be the source of 3% of the carbon dioxide (CO2) emitted worldwide since it is still based on the exploitation of cheap and low-grade fossilfuels such as heavy fuel oil (HFO) and marine diesel oil (MDO).
This facility aligns with the company’s Panasonic GREEN IMPACT initiative, aiming not only to decarbonize its global operations but also to contribute to a reduction of 300 million tons of carbon emissions by 2050. Looking ahead, this framework may influence global energy strategies.
Policymakers met with fossilfuel and biomass producers nine times as often as with their renewable energy counterparts, DeSmog can reveal, raising fresh concerns over the depth of the government’s commitments to reaching net zero emissions by 2050. Drax Access.
Carbon is one specific area that the sector is struggling with, with 71% stating that the industry is unable to comply with the government regulations. This is despite a strong government mandate and heavy investment towards renewable energy sources to enable the country to reach its net zero objectives by 2050.
Military alliance announces target to cut emissions 45 per cent by 2030, Australia explores carbon pricing plans, and all the big green stories from around the world this week. NATO confirms plan to deliver net zero emissions by 2050. However, military emissions are often exempted from countries' official carbon targets.
Cynics made some mileage from the almost The Thick Of It -style title juggling, with the event undergoing a hasty re-christening from “green day” to “energy security day” (as Carbon Brief noted ), as it became clear that future oil and gas exploration remained a key component of the government’s plans.
The bank announced this week it would establish interim business-related climate targets by the end of 2021 and would achieve carbonneutrality across its supply chain by the end of this decade.
This initiative aligns with Japans ambitious target of achieving carbonneutrality by 2050 and Australia’s aspiration to become a major hydrogen exporter. Through these tools, Kawasaki aims to address both the physical challenges of transporting hydrogen and the broader needs of low-carbon certification in global markets.
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