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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?
Despite net-zero pledges, banks used $750 billion to finance fossilfuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossilfuel firms during the pandemic year.
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.
Carbon 'rainbow': Unilever pledges $1.2B to scrub fossilfuels from cleaning products. The new program, Clean Future, is largely focused on identifying and commercializing alternative sources of carbon for surfactants, the petrochemical molecules found in cleaning products that help remove grease from fabrics and surfaces.
FedEx pledges to be carbon neutral by 2040. Global logistics giant FedEx on Wednesday announced a goal to be carbon neutral by 2040. The plan includes a $2 billion investment across electric vehicles, clean energy for operations and a new academic center with Yale focused on capturing carbon. Carbon Capture.
Lululemon, LanzaTech are reshaping carbon waste into fabric. Consider that right now, the steel industry is among the three biggest producers of carbon dioxide. tons of carbon dioxide , according to the World Steel Association. tons of carbon dioxide , according to the World Steel Association. Deonna Anderson.
Could green hydrogen be key to a carbon-free economy? The Saudis are going big on something called green hydrogen — a carbon-free fuel made from water by using renewably produced electricity to split hydrogen molecules from oxygen molecules. is California’s aggressive push toward a carbon-neutral future. Jim Robbins.
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.
Morgan Stanley will measure CO2 impact of loans and investments. bank to commit to measuring and disclosing the climate impact of its loans and investments, announcing last week that it has joined a multi-trillion dollar group of global financial institutions developing a standardized method for carbon accounting.
This story is the sixth part of a DeSmog series on carbon capture and was developed with the support of Journalismfund Europe. Norwegian state-owned oil and gas company Equinor, the North Sea’s largest fossilfuel producer, is positioning itself to play a key role in plans to turn Britain into a world leader in capturing carbon.
Beyond emissions: The life of a carbon molecule. Carbon is everywhere. Carbon atoms flow through all living organisms, from the atmosphere to the earth to the oceans and back again. But carbon is also moving constantly through the global economy, which historically has been powered by burning fossilfuels for energy.
This story is the tenth part of a DeSmog series on carbon capture and was developed with the support of Journalismfund Europe. Expansion Plans Equinor is positioning itself to play a key role in the European Unions plans to massively increase carbon capture. DeSmog asked Equinor for its data on carbon capture at Sleipner in October.
The key solutions today are biofuels, only displacing a mere fraction of fossilfuels-based jet fuel, and offsets. Infinium, spun out of another company called Greyrock Energy , says because the biofuel (dubbed an "electrofuel") is made with clean energy and CO2, it's a "net-zero carbon" fuel.
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. Finance & Investing.
Heinz will use the funding to install heat pumps, moving away from a dependence on fossilfuels to heat water at its plant in Kitt Green, near Wigan (image credit: Rosemarie Mosteller / Shutterstock.com). Heinz, which received over 2.5 Heinz, which received over 2.5 Hanson Cement in North Wales will use its 5.6
HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century. They care as citizens, consumers and business owners.
Waste Heat Recovery Technology Poised to Redefine Energy Efficiency As global efforts to reduce carbon emissions intensify, waste heat recovery is emerging as a critical technology with profound implications for energy efficiency and climate action. Importantly, heat capture complements renewable energy systems.
supported $1.316 trillion in transactions for the fossilfuel industry. received $37 million in compensation for fossilfuel industry lobbying. Law firms cannot maintain reputations as socially responsible actors if they continue to support the destructive fossil-fuel industry.". That, too, is ramping up.
This story is the third part of a DeSmog series on carbon capture and was developed with the support of Journalismfund Europe and published in partnership with the Guardian. Others engaging regularly with ministers on CCS policy include heavy manufacturing companies, CCS technology firms, lobby groups, and investment funds.
Tanager-1 is made possible by the Carbon Mapper Coalition , a philanthropically-funded effort to develop and deploy satellites designed to detect and track methane and CO2 super-emitters at a level of granularity needed to support direct mitigation action.
The UK government announced the disbursement of over £80 million funding on 28 June, intended to give a boost to a range of projects geared towards ditching fossilfuels in favour of cleaner energy sources. Projects include hydrogen-powered cornflake production and low-carbon Scottish whisky distillation. CCUS Innovation 2.0
Anthoni Salims Strategic Investment The development of this groundbreaking facility ties back to the vision and investments of Anthoni Salim, Indonesia’s influential billionaire. At the core of the plants design is the capability to burn hydrogena fuel source hailed for its low to zero carbon emissions. GW by 2030.
Governments can start a global cascade of "positive tipping points" to cut prices and carbon emissions by using mandates to switch investment from polluting fossilfuels to clean technologies, according to a new report launched today at Climate Week NYC.
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. .
Net zero can be achieved, first and foremost, by cutting or eliminating greenhouse gas emissions and, secondarily, by offsetting any remaining emissions through such actions as planting trees, investing in renewable energy projects that replace fossil-fuel energy, or investing in novel carbon-removal technologies such as direct air capture.
This carbon challenge is bigger than cars, aviation and shipping combined. The world’s kilns, reactors, chillers and furnaces are powered mostly by fossilfuels. . High-temperature industrial heat, over 932 degrees F, poses a particular challenge because that’s the point at which fuels beyond electricity become the mainstay.
Meanwhile, natural gas facilities can access the incentives if they implement carbon capture and storage solutions and address methane leakage, using the yet-to-be-released GREET climate model. Hydrogen can replace fossilfuels in combustion-heavy industries or power fuel cell vehicles without tailpipe emissions.
How These Companies Are Tackling Climate Change Using Green Hydrogen Green hydrogen is paving the way for a sustainable future, offering a clean and carbon-free alternative to fossilfuels. Traditional supports, such as carbon-based materials, are prone to oxidation, hindering efficiency.
Continued investment in carbon-intensive industries will drastically increase the amount of "stranded assets" as the world moves to net-zero emissions, researchers warn.
ExxonMobil Baytown Low-Carbon Hydrogen and Ammonia Project: A New Milestone in Clean Energy ExxonMobil, one of the worlds leading energy companies, is progressing with plans for a cutting-edge low-carbon hydrogen and ammonia facility in Baytown, Texas. This ambitious project, expected to produce up to 28.3 Gulf Coast.
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.
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.
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. that fit fleets' needs. Media Authorship.
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
The companies said the jet fuel will be made from agricultural waste fats and oils (such as used cooking oil and inedible fats from beef processing). Amazon has pledged to reach net-zero carbon emissions by 2040, and says it will make sure half of Amazon shipments are net-zero by 2030. A drop in the fuel tank.
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.
Nonetheless, the long-term transition to low-carbon energy systems continues to see strong momentum and, in several respects, acceleration. The report presents specific outlooks per fuel type such as natural gas, oil, coal, hydrogen and sustainable fuels, as well as a view on the role of CCUS in decarbonising the energy sector.
As global carbon emissions from human activity hit an all-time high last year, my family zeroed out emissions from our home and cars while getting an 11% tax-free return on the investment. That's more than twice the yield of municipal bonds.
Image Credit: JCB Advancements in Internal Combustion Hydrogen Engine Technology JCB has invested 100 million into the development of its hydrogen combustion engine over three years, involving 150 engineers in this ambitious project.
These facilities are strategically positioned to integrate hydrogen production, storage, and refueling, enabling industries and transportation systems to transition away from fossilfuels. Billion Investment in Clean Energy Sinopecs investments reflect its long-term commitment to hydrogen and green fuels.
This story is the fourth part of a DeSmog series on carbon capture and was developed with the support of Journalismfund Europe and published in partnership with Le Monde. Another 15 envisage retrofitting existing hydrogen plants with carbon capture, while the status of four remained undetermined. Credit: Sabrina Bedford.
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.”
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.
YouGov research commissioned by energy company ScottishPower seems to have found that only one in five (20%) of the nation’s small and medium sized businesses (SMEs) have invested in green energy solutions including solar panels, battery storage, heat pumps and electric vehicle charging points.
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