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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.
Using waste carbon feedstocks to produce chemicals. Moreover, using waste carbon to make chemicals also can reduce manufacturers’ reliance on fossilfuels such as crude petroleum and natural gas, an important factor, particularly for the European Union and China, given the volatility in sourcing and pricing of fossilfuels.
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.
For that project, greenhouse gas emissions were cited as the most significant factor for refusing permission in Ellesmere Port, with the Secretary of State stating that ‘every tonne of carbon contributes to climate change’. When it came to Dunsfold, the Secretary of State reached a different decision. The decision will be reserved.
Half of the worlds carbon dioxide emissions in 2023 came from just three dozen companies, according to a new report released today by the Carbon Majors project, with the list dominated by coal, cement, and oil producers. percent of the worlds carbon dioxide pollution alone in 2023, the report found.
supported $1.316 trillion in transactions for the fossilfuel industry. received $37 million in compensation for fossilfuel industry lobbying. Climate lobbying" in the report is defined as efforts "to delay, control or block policies to tackle climate change.". Policy & Politics. Follow the money, indeed.
Modern Hydrogen Secures $25 Million to Propel Clean Energy Efforts Woodinville-based cleantech startup Modern Hydrogen has raised $25 million in its latest funding round, further advancing its mission to revolutionize hydrogen production and reduce carbon emissions.
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. But that might create a risk whereby these companies unduly influence policy and roll-out in a way that benefits them.”
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.
Mark Kemp, the new President of the Association of Directors of Environment, Economy, Planning & Transport (ADEPT), has launched the group’s new Climate Change and Green Growth policy position. Climate change and green growth must be the key drivers across these policy areas.
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.
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.
Scientists including Australia's CSIRO warn that there is a 50% chance the world's "carbon budget" will be exceeded in six years. The post Stubborn fossilfuel emissions threaten to blow global carbon budget appeared first on RenewEconomy.
An apocalyptic “meh” seemed to greet the government’s bumper package of energy- and climate-related policy announcements and documents released on 30 March, which appeared short on new ideas and sources of funding. A central plank was the policy paper “Powering Up Britain” , which presented plans for tackling energy security and net zero.
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.
Previous work established the carbon negative position of the business and this paper now sets out the additional greenhouse gas savings that could arise from future activities. Bath University’s research not only validates those efforts but reinforces our vision to improve our already fantastic carbon credentials.”.
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.
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.
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.
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
Hydrogen startups are widely seen as a promising way to eliminate fossilfuels from heavy industry and long-haul transportation. But they have been stuck in limbo for the last couple years, waiting for official guidance from the U.S. Treasury on lucrative tax credits.
Despite the temporary decline in greenhouse gas emissions, carbon dioxide levels in the atmosphere hit an all-time high in May. A new blueprint from Ceres, the Blueprint for Responsible Policy Engagement on Climate Change , lays out a science-based action agenda for companies in the U.S. that comes down to two basic steps. .
governments at all levels are prioritizing climate action and setting intense carbon-reduction goals. In fact, carbon emissions in the U.S. But successfully achieving these deep carbon reductions will require further reductions in energy use as well as the replacement of existing fossil generation with zero-carbon technologies.
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
. | 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.
Nigel Farage ’s Reform party received £135,000 this year from donors linked to climate science denial and fossilfuels, DeSmog can reveal. Reform UK , formerly the Brexit Party, is a vocal critic of climate action, and last year called for a referendum on the UK’s net zero policies. billion invested in fossilfuels.
All six have made public commitments to reduce their carbon emissions, and regularly publicise their involvement in sustainability-focused PR and advertising campaigns. Of 38 automotive industry clients, none support policies that align with Paris goals. degrees Centigrade (3.6 Holder’s analysis found that just 8 percent of U.S.-based
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.
Darren Woods, the CEO of Exxon, celebrates the potential of carbon capture to dramatically reduce global emissions. According to Saudi Aramco’s podcast, the fossilfuel industry is innovating new climate solutions, and BP’s podcast proclaims more of the same. and Europe.
The self-styled PopCons included politicians critical of climate policies and science, including Lord Frost, who is a director of the climate science denial Global Warming Policy Foundation , as well as Conservative MP Lee Anderson and Reform party president Nigel Farage. The policy was ditched by her successor Rishi Sunak.)
Fossilfuel giants BP and Shell were given “ample opportunity” to privately influence proposals for taxing oil and gas companies that were later backed by the government, new documents reveal. The think tank was commissioned to produce a report on carbon pricing by the Climate Leadership Council (CLC), a controversial U.S.
Those processes use a lot of energy and largely come from fossilfuels; one-third of U.S. A key route to industrial emissions reductions is electrification (replacing industrial fossilfuels with electric alternatives). Pursue policies, regulations and RD&D to stimulate the market. Start with heat.
Global advertising and public relations company WPP has more contracts with fossilfuel clients than any of its rivals, despite the group’s pledge to reach net zero emissions by 2030, according to a report by campaign group Clean Creatives. Omnicom followed with 39 contracts; Interpublic Group had 25; and Publicis Groupe had 11. “The
The firm is owned by Terence Mordaunt , a director and former chair of the Global Warming Policy Foundation (GWPF), the UK’s leading climate science denial group. 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”. It’s plant food”.
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.
Seasoned observers fear that growing calls for a bolder and more ambitious global policy framework are continuing to founder on the rocks of vested interests and short-term cost concerns. . It is not the job of the United Nations to protect vested fossilfuel interests," they wrote in a letter seen by BusinessGreen. "It
and $3 per kilogram of hydrogen, depending on the carbon intensity of the production process, as outlined in draft regulations from December 2023. Hydrogen from Nuclear Power : By using electricity from nuclear reactors, hydrogen producers can achieve near-zero carbon emissions. These credits could range between $0.60
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.
Intense lobbying from the meat and dairy industry since 2020 has helped weaken and stall crucial climate policies in the European Union, according to a new report from InfluenceMap.
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