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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. Fracking was not a viable industry even before oil went negative. .
Pressure on creatives: PR, advertising firms targeted by fossilfuel divestment movement. As fossilfuel companies' social license to operate becomes increasingly frayed, more industries in their orbit are getting entangled in the reputational quagmire that is now part and parcel of any activity that exacerbates the climate crisis.
Why IKEA is investing in sustainable mobility. For the company known for its delicious meatballs and DIY shelves, the investment isn't actually that surprising. For the company known for its delicious meatballs and DIY shelves, the investment isn't actually that surprising. Holly Secon. Tue, 11/03/2020 - 00:30.
That’s the message from several recent reports focusing on the role of service-sector companies in addressing — positively or negatively — climate change. supported $1.316 trillion in transactions for the fossilfuel industry. received $37 million in compensation for fossilfuel industry lobbying.
The push to quickly transition carbon-intensive activities away from fossilfuels while meeting the world’s growing energy needs has put electricity producers and consumers squarely in the forefront of the emerging clean economy. Manufacturing is going electric, too, as companies ratchet up their net-zero-carbon goals.
A new partnership may pave the way for more than £400 million to be invested in recycling facilities across the UK. It will convert this waste into ultra-low sulphur diesel to replace fossilfuels in the transport and heavy-machinery sectors. Each facility is designed to accept 20,000 tonnes of plastics each year.
These facilities promise faster deployment times and a significantly lower carbon footprint compared to conventional setups connected to strained energy grids. While these operations are not yet completely carbon-free, the benefits are clear. The company has hinted at utilizing green hydrogen in the future.
These include the controversial energy company Drax , the fossilfuel lobby group Offshore Energies UK , and the gas company Cadent. The firm’s plant in Selby, Yorkshire, which burns wood pellets to generate electricity, is the single biggest source of carbon dioxide emissions in the country according to the climate think tank Ember.
There were plenty of juicy news tidbits in Microsoft’s recent progress report about its goal to become carbonnegative over the next decade. This is the largest commitment it has made to a single portfolio investment, so it isn’t some side project. Behind Microsoft's bold plan to build social equity into clean energy buying.
A tidal wave of new carbon emissions data soon will be upon us. A radical increase in available carbon emissions data may be just around the corner. Slow-to-change investors and greenwashers in the business community will lose their cover to continue propping up the fossilfuel economy. Ian Kearney.
public pension funds would have been about 13 percent higher had they divested from fossilfuel holdings ten years ago – equivalent to around $21 million in earnings. without the fossilfuel holdings. without the fossilfuel holdings. billion at the end of 2022, they would have been worth $424.6
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. .
Drawing upon findings recently published by the Intergovernmental Panel on Climate Change’s (IPCC) Sixth Assessment Report (AR6), the report from the Climate Crisis Advisory Group (CCAG) argues that current global emissions targets are inadequate and that net negative – rather than net zero – strategies are required.
Why H&M, other big brands are investing in garment recycling. Carbon renewal technology, or CRT, breaks down waste plastic feedstocks to the molecular level before using them as building blocks to produce a wide range of materials and packaging. Investors such as H&M are already forging ahead. Eastman is one of the largest U.S.
White hydrogen offers a naturally occurring, carbon-free energy source waiting to be extracted, unlike green or gray hydrogen, which require energy-intensive production methods. This region could also support carbon-negative hydrogen production by combining hydrogen extraction with carbon sequestration.
But Imperial College London analysis warns emerging technologies and negative emission power plants are likely to be needed to unlock full decarbonisation of the grid. In contrast, fossilfuel sources made up 39.6 Overall, it means wind, solar, hydropower, and biomass sources together supplied 38.5
Fossilfuels such as coal, oil and natural gas are the source of just over 80% of the world’s energy. To avert catastrophic warming, the global community must rapidly reduce how much of these fuels it extracts and burns. target because it was already at its limit, given our projections of fossilfuel demand in the near future.
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. Not taking into account the negative externalities. No additional investments would be required.
Just 10 per cent of global utility firms prioritising renewables over fossilfuelinvestments, University of Oxford research finds. Moreover, many of these firms had continued to invest in fossilfuels in parallel with renewables, albeit at a slower rate than for clean energy, according to the study.
have been shelved by the developer Drax, highlighting the challenging economics of converting coal-fired power to a cleaner, but still fossil-fuel-fired, alternative. It plans to add carbon capture and storage to the biomass plants, taking them to a negative-emissions status. Plans for a new 3.6-gigawatt MW of capacity.
I’d argued that regenerative grazing could cut emissions from beef production , helping reduce the outsized contribution cattle make to food’s carbon footprint. You can imagine a future in which some beef, probably priced at a premium, comes with a carbon-negative label. That’s around a decade of global fossil-fuel emissions.
Institutional Investors Group on Climate Change calls on banks to back their net zero pledges with moves to halt support for fossilfuels and activities that drive deforestation. With fossilfuel financing increasing since 2016, the time to act is now," she said. Net zero commitments must drive real change.".
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.
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. Our record on renewable energy speaks for itself,” they said. “In Drax Access.
For the vast majority of countries, recovery spending has been relatively low and not particularly green, according to the report, with any benefits from the greener elements contained in stimulus packages often undermined by concurrent fossilfuel and consumer-focused spending program. Of the $14.6 Meanwhile, $86.1
The way we power our aircraft will be a big part of achieving that goal, and this exciting project to make aviation fuel from air and water shows how it might be done.". Zero Petroleum and the RAF launched Project MARTIN in June 2021, developing ZERO SynAvGas over five months with negativecarbon technology company IGTL Technology.
Low oil price likely to stick around for some time prompting fundamental change to energy investment that could accelerate net zero, experts suggest. It is a bit of a complicated financial instrument so we shouldn't over interpret the negative effect," he said.
The president of the RPS said the group had taken the decision to alter its investment strategy in the latest win for the global divestment campaign. In related news, Luton Borough Council this week unanimously passed a motion calling on the Bedfordshire Pension Fund to disinvest its fossilfuel.
Greenpeace, Friends of the Earth, and Global Witness have all raised concerns about the creeping reliance on unproven carbon removal methods in companies' decarbonisation strategies, but some scientists maintain carbon capture is essential if net zero goals are to be met.
Put simply, the term ‘cleantech’ describes a product that aims to reduce or mitigate negative environmental impact. Accounting for eight per cent of the world’s carbon emissions, the current process for making cement is far from eco-friendly. At the same time, carbon dioxide is released and captured, alongside oxygen and hydrogen.
However, it is crucial that as we move from internal combustion engines to electric vehicles, we do not not risk disturbing our planet’s largest carbon sinks by giving the destructive deep-sea mining industry the green light and opening up a new frontier of industrial extraction, writes campaign organisation the Deep Sea Conservation Coalition.
“The consortium has a vast amount of knowledge and experience, which we are leveraging to produce carbonnegative hydrogen – there is no better goal to be working on right now.”. Although the primary goal of the work is to produce hydrogen, the Levidian LOOP is also a unique carbon capture and utilisation technology.
Most buildings run on multiple fuels. And they consume fossilfuels such as natural gas or propane to power furnaces, boilers, and water heaters. That persistent reliance on fossilfuels makes buildings one of the largest sources of planet-warming pollution. Heat pumps are the big one. Already, around 30 U.S.
The business and reputational risks for companies that provide a platform for, or create, fossilfuel advertising are growing. It's a question that has moved up the agenda over the last few days, after multiple campaigns launched urging advertisers and media companies to cut ties with fossilfuel companies.
In the late 2000s, the fossilfuel conglomerate Woodside Energy petitioned to build a liquid natural gas processing plant 30 miles north of Broome, on a peninsula known in English as James Price Point, and to the Goolarabooloo as Walmadany. Finally, in 2013, Woodside threw in the towel. They’d expected it to be empty.
Influential think tank warns that post-pandemic oil and gas companies have invested billions in projects that would push warming beyond 2.5C. A further $45bn of investment was deemed to be incompatible with a 1.7C above pre-industrial levels. warming scenario, which would be delivered if countries' honour current climate pledges. "Oil
A growing number of oil companies in the past year have announced targets to achieve “net-zero emissions” by mid-century, seemingly signaling a monumental shift in the history of the oil business towards low-carbon solutions. Fossilfuel companies have taken a variety of approaches when it comes to climate change.
Low oil price likely to stick around for some time prompting fundamental change to energy investment that could accelerate net zero, experts suggest. As a result, oil prices have plummeted and yesterday US future contracts went negative for the first time in history as global storage capacity for oil continued to fill up.
The company also indicated it planned to reduce its reliance on carbon offsetting schemes as it looks to deliver on its own net zero goal. However, there are concerns about the limited supply of SAFs, which can be produced using energy crops, municipal waste, or using hydrogen and captured carbon. Our foundation is strong.
What is considered comfortable now could have consequences in the future - especially if it means reverting back, even in the short term, to old, damaging, carbon-based energy tactics. Instead of relying on old, carbon emitting practises, rather elevate energy security by investing in renewables. Striving for self-sufficiency.
Annual figures show that renewable supply outpaced fossilfuels for the first time. Conversely, energy produced by fossilfuels fell to just 39.6%, marking the first time that clean energy has consistently outperformed legacy sources. Covid19 created a fall in generation demand. The broader picture.
A growing number of oil companies in the past year have announced targets to achieve “net-zero emissions” by mid-century, seemingly signaling a monumental shift in the history of the oil business towards low-carbon solutions. Fossilfuel companies have taken a variety of approaches when it comes to climate change.
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 'negativecarbon' solutions.
Agencies facing fresh calls to cut their ties with laggard fossilfuel firms, leaving many in the advertising and PR sector with difficult decisions to make. And energy providers the world over are rushing to slash their reliance on fossilfuels as the clean energy transition gathers pace. It is a big business.
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