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2020: Fossilfuels are dead, long live the sun. In this strangest of all years, as the death toll mounts from a disease caused by human incursions into once intact ecosystems, we’re observing another death — the demise of fossilfuels. Hunter Lovins. Thu, 08/13/2020 - 00:15. Is that possible? What happened?
BP, Shell, oil giants fund research into mobile carbon capture from ships at sea. Carbon capture will play an important role in reducing overall greenhouse gas emissions, but there's no reason it needs to be limited to stationary applications," said Michael Traver, head of OGCI's transport workstream. Michael Holder.
A useful way to think about the effort and timescales required is to consider the " Carbon Law ," which was coined by my friend Johan Rockström. So, what does the Carbon Law say? To keep within the remaining carbon budget for 2 degrees C, we have to cut our emissions drastically, reaching net-zero emissions as soon as possible.
The bank, currently Europe's second largest financier of fossilfuels, has committed to reaching net-zero across its supply chain and operations by 2030, before reaching net-zero across its customer portfolio 20 years later. That's just science, not finance.".
Nonetheless, the long-term transition to low-carbon energy systems continues to see strong momentum and, in several respects, acceleration. Hydrogen demand is expected to grow 4-6x by 2050, driven primarily by road transport, maritime, and aviation. C by 2100, and reaching a 1.5°C C pathway is increasingly challenging.
A report published on 26 August by an independent group of experts warns that reaching net zero greenhouse gas emissions by 2050 is now “too little too late”, and will not achieve the long-term temperature goals identified in the Paris Agreement to limit global warming to 1.5°C license ). C by the end of the century.
Carbon capture and utilization (CCU) has been touted as part of the solution to the climate crisis. CCU typically works by capturing carbon dioxide emissions from power plants or industry. This carbon dioxide is then converted using electricity, heat, or catalysts into a new product, like the fuel methanol. “It
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.
Continued investment in carbon-intensive industries will drastically increase the amount of "stranded assets" as the world moves to net-zero emissions, researchers warn.
New research proves massively increased return for investment in renewables over fossilfuels. With 2050 targets requiring $4.4 trillion annual investment in low carbon energy, this can only be a positive for achieving climate goals.
Major fossilfuel firms have committed tens of millions in finance to UK universities since 2022, DeSmog can reveal. Previous reporting from openDemocracy and the Guardian found that, between 2017 and December 2021, £89 million had been given to UK universities from some of the world’s biggest fossilfuel companies.
That is significant because cement, the critical glue that holds concrete together, is so carbon intensive that if it were a country, it would rank fourth as a climate polluter. The Global Cement and Concrete Association this year committed to zero emissions concrete by 2050. No single solution has surfaced to reach this goal.
We will be relying on fossilfuels for some time.". Broadly focused on the fossilfuels company's digital transformation, the applications being built collaboratively by the two companies are aimed at measuring carbon emissions — both Shell's and those of its suppliers and customers.
The Rocky Mountain Institute (RMI) is banking on banks to get us over the carbon-neutral finish line by 2050. . Its goal is to integrate the financial sector’s attempts at going green, including green business investments, exclusionary policies for certain fossilfuels and the industry’s ESG policies, into one complete strategy. .
Since then, the Conservative government has made a series of U-turns on its own net zero policies, attacked Labour’s green spending plans, and doubled down on its support for new fossilfuel projects, approving more than 100 new North Sea oil and gas licences. This comes as DeSmog and Democracy for Sale reveal that £6.8 percent (£1.8
. | Photographer: Krisztian Bocsi / Bloomberg via Getty Images More than 130 companies, including Volvo Cars, Ikea, Unilever, Nestlé, and AstraZeneca, signed a letter calling on governments to adopt a global plan to phase out fossilfuels without carbon capture during upcoming international climate negotiations.
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.
Those processes use a lot of energy and largely come from fossilfuels; one-third of U.S. To achieve net-zero economy-wide emissions by 2050 and limit global warming, industrial emissions must drop while still meeting societal needs. greenhouse gas emissions come from industry. Start with heat. Sponsored Article. Shutterstock.
billion) in fossilfuel firms. This includes companies that specialise in extracting, refining, transporting and distributing fossilfuels. million) shareholding in the oil and gas supermajor Chevron, as well as stakes in Shell, Equinor, and 109 other fossilfuel companies. billion (£1.8
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. .
Greenhouse gas emissions must peak within the next three years, and in the next eight, the world must push fossilfuels aside, rapidly scaling up the use of clean energy like wind and solar. The authors’ top recommendation: Immediately move away from fossilfuels and replace them with renewable technologies.
Nigel Farage ’s Reform party received £135,000 this year from donors linked to climate science denial and fossilfuels, DeSmog can reveal. Latest official records show that all donations made to Reform UK so far this year are from individuals with ties to climate science denial or fossilfuel interests.
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. .
governments at all levels are prioritizing climate action and setting intense carbon-reduction goals. In fact, carbon emissions in the U.S. power sector were 33 percent below 2005 levels at the end of 2019, and a number of the nation’s largest utilities have committed to 80 percent or greater reductions by 2050.
Littlewood’s speech criticised the UK’s net zero target, complaining about “the Climate Change Committee, pronouncing on our progress to the eye-wateringly [sic] expensive and almost certainly unachievable aim of being carbon net zero”. billion invested in fossilfuels via his investment fund Marshall Wace.
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.”
The GWPF has in the past expressed the view that carbon dioxide has been mis-characterised as pollution, when in fact it is a “benefit to the planet”. Hosking previously told DeSmog: “I do not have millions in fossilfuels; it is the clients of Hosking Partners who are the beneficiaries of these investments.”
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.
In a net-zero carbon world, the low-carbon solution wins. Right now, the corporate gold standard is net zero well before 2050, and companies at the net-zero forefront are saying that they want to halve their Scope 1, 2 and 3 emissions by 2030. Charting a course to 2050. Wed, 06/09/2021 - 00:10. Missed VERGE Electrify?
ExxonMobil saw a “limited” role for carbon capture and storage (CCS) projects in fighting climate change, but still promoted the technology in its advertising campaigns, internal company documents show. Scenario D forecast much lower emissions than ExxonMobil’s public projection for the 2050 global energy portfolio, its 2018 Energy Outlook.
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.
The vast majority of corporate advocacy promoting carbon capture and storage is misaligned with climate science, new research shows. The study shows that IPCC recognizes a role exists for carbon capture technologies. Celsius or well-below 2°C – the targets established by the Paris Agreement.
Shell’s declared plan had been to reduce the “carbon intensity” of its products by 20% by 2030, with a view to reaching net zero by 2050. It could therefore be said that this a ruling that Shell must reduce its fossilfuel production, as comments from Stockholm Environment Institute (SEI) pointed out.
When powered by renewable energy, like wind or solar, this method generates “green hydrogen”a sustainable and carbon-neutral fuel. 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.
However, the UK currently relies on biomass energy generation to transition from burning fossilfuels, and new understanding around bioenergy has cast a very different light on this powerhouse of the energy transition. Such electricity was initially considered a good alternative to burning fossilfuels.
EIA and IEA are out with projections for emissions and fossilfuel consumption. On our current policy trajectory, there is no peak in sight, according to EIA By 2050, we will likely see a 50% increase in energy consumption. That means emissions could rise through 2050, absent massive changes to policy. Learn more.
Despite the temporary decline in greenhouse gas emissions, carbon dioxide levels in the atmosphere hit an all-time high in May. degrees Celsius and ensure we reach net-zero emissions by 2050 or sooner. . Turning taxpayer dollars into stranded fossilfuel assets is no way to fuel a real economic recovery.
Certification metrics include lifecycle greenhouse gas (GHG) emissions assessments to confirm that renewable hydrogen cuts emissions by at least 70% compared to fossilfuels. Ammonia, which needs fewer resources to produce compared to methanol, could significantly reduce fuel costs in sectors like shipping.
The Gulf nations emphasis on renewable energy showcases its drive to diversify its economy and mitigate carbon emissions. Green ammonia, produced by combining green hydrogen and nitrogen, is gaining traction as a sustainable fuel and fertilizer. Why ammonia?
These efforts will rely on advanced electrolyzer technology and renewable energy to cut carbon emissions significantlyand they couldnt come at a better time. When powered by renewable energylike wind or solarthe process leaves behind virtually no carbon footprint, making it a standout in the race to combat climate change.
Arizona Public Service released its plan for reaching zero-carbon by 2050 , with multiple options to balance the costs and carbon benefits of switching from coal and natural gas to renewables, batteries, distributed energy resources and as-yet-untested technologies. Long-range tradeoffs: Carbon reduction vs. costs.
Hydrogen Powered Sea Trial Set to Revolutionize Marine Industry The maritime industry is on the brink of a significant transformation as it takes decisive steps toward reducing its carbon footprint. This process not only produces hydrogen but also generates biochar, which serves as an effective carbon sequestration method.
But demand for polluting fossilfuel-derived plastics could peak by 2035 if business and government works together to create a more sustainable plastic supply chain, report finds.
BP will cut its oil and gas output by 40 percent by 2030 and increase its low-carbon investment tenfold by then, the company announced Tuesday as it begins to detail its 2050 net-zero strategy. In June it upped its carbon price forecast for 2030 to $100 per ton , from the $40 it assumes now. Carbon offsets.
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