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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. COVID-19 constricted commuting, and demand for refined oil products fell fast.
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.
Deliberately located between Inverness and Aberdeen to address grid congestion from Viking (443 MW), Moray East (950 MW) and Beatrice (588 MW) offshore wind farms, the project is said to significantly reduce the amount of wasted clean energy and is an important milestone to achieving the UK governments mission to have a net zero power grid by 2030.
The UKs ambitious target to increase electric vehicle (EV) sales to 80% of all new car purchases by 2030 could result in them accounting for up to 5% of total power demand, according to energy analysts at Montel, though there are concerns whether capacity buildout will be adequate. The total increase in demand from EVs could add 17.12
to scrub fossilfuels from cleaning products. billion over the next 10 years into initiatives that will allow it to replace chemicals in its cleaning products made from fossilfuel feedstocks with greener alternatives — an investment it described as critical to meeting its aim of achieving net-zero emissions from its products by 2039.
This event is more than a celebration of sport it is a global stage where the country can either reinforce its role as Europe’s biggest fossilfuel producer or rise to the occasion and lead a just transition away from oil, gas and goal production. You dont phase something out by building more of it. Athletes know this.
Electrotechnical and engineering services body ECA is urging the industry to fully engage with Government initiatives to decarbonise heat , including the new Boiler Upgrade Scheme (BUS), launched this week. Luke Osborne, ECA Energy and Emerging Technologies Solutions Advisor, said, “The electrification of heat is finally gathering pace.
IEA, for first time, says demand for oil, gas and coal will all peak by 2030, but must fall sharply before then if agreed climate targets are to be met. The post Australia issued “stark warning” by IEA as fossilfueldemand tipped to plummet by 2030 appeared first on RenewEconomy.
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. And the era of fossilfuels is hardly over. Subscribe here. Surge protection.
But with global demand on the rise, how do we speed up the process of reducing emissions? And as hydrogen fuel tanks are lighter than electric batteries, vehicles can carry more cargo – so increasing efficiency. But hydrogen can provide a clean fuel alternative for long-haul shipping.
The energy transition continues to gain steam, with oil demand projected to peak in this decade, perhaps as soon as 2025, according to new research by global consultancy firm McKinsey & Company. However, even with current government commitments and forecasted technology trends, global warming is projected to exceed 1.7°C
The motion recommends that the Toronto Transit Commission, more commonly known as TTC, decline any new ads from the Pathways Alliance and Canada Action , two of Canada’s most prominent fossilfuel marketing organizations. Toronto City Councillor Dianne Saxe introduced the anti-greenwashing motion on Sept.
Food systems are responsible for at least 15 percent of all global fossilfuel consumption, according to a major report launched ahead of the COP28 climate summit. Its authors found that even if governments delivered on their 2030 climate pledges, by 2037 food-related fossilfuel use alone would blow the remaining portion of the 1.5C
percent of the years global carbon dioxide emissions from fossilfuels, the report adds. The Carbon Majors are keeping the world hooked on fossilfuels with no plans to slow production, former United Nations climate chief and Paris Agreement architect Christiana Figueres said in a response accompanying the report.
Growth in wind and solar output expected to exceed demand growth for first time in 2023 outside of a recession year, signalling "beginning of the end" of fossilfuels. The post “Beginning of the end of fossilfuels” as wind and solar take centre stage appeared first on RenewEconomy.
Net zero energy goals for heating need to be owned and delivered by regional and local governments, according to a new report led by the University of Birmingham. In addition, the report emphasises the need to balance these on-the-ground local decisions with long-term policy decisions from Government.
OTTAWA — With the International Energy Agency’s latest milestone report pointing to a peak in fossilfueldemand by the end of this decade, Clean Energy Canada has released a new study illustrating what ditching oil and gas means for Canadian households and their energy bills.
For first time, IEA forecasts global demand for fossilfuels will soon peak in all its scenarios as EV sales rise and the shift to wind and solar accelerates. The post “Curtain call” for fossilfuels: IEA says Ukraine war locks in shift to renewables appeared first on RenewEconomy.
The city of Toronto has passed a motion aiming to restrict fossilfuel advertising on municipal property, one of several recent efforts to curtail fossilfuel advertising in major Canadian cities. The motion did not advocate for a full ban on all fossilfuel ads.
Fossilfuel lobby demands that new laws designed to force regulators to consider and environmental and emissions in their rulings be watered down. The post “We might get sued:” Fossilfuel lobby wants environmental objective watered down appeared first on RenewEconomy.
To rebuild the economy, the United States government so far seems to choose to deploy the same playbook it did in 2008: funding legacy companies in industries such as oil and gas. . History has shown us that government funding of visionary projects can have enormous positive outcomes. Back to normal is not an option.
The beginning of the end for fossilfuels? This text is a step forward on our path towards phasing out fossilfuels, but is not the historic decision we hoped for.” More than 100 countries came to the table pushing for an official agreement to “phase out fossilfuels.”
The UK government’s move to award £22 billion in subsidies to carbon capture projects followed a sharp increase in lobbying by the fossilfuel industry, DeSmog can reveal. Pipelines would then carry the captured gas underground to be stored in depleted oil and gas reservoirs under the North and Irish Seas. .
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 million in April.
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. Earlier this month, the new Labour government pledged £21.7 Credit: Sabrina Bedford.
The Securities and Exchange Commission (SEC) this week fired a shot over the bow at Wall Street companies that promise to help investors avoid putting their money into fossilfuels and tobacco — but steer funds towards those companies anyway. On the other hand, there’s been political pushback from the fossilfuel industry’s backers.
This pioneering integration enables the plant to balance electricity supply during fluctuations in demand, enhancing grid stability and operational efficiency. At the core of the plants design is the capability to burn hydrogena fuel source hailed for its low to zero carbon emissions. and reach up to 11.8 GW by 2030.
While the immediate cause is still being investigated, we do know that California’s grid was experiencing multiple, coincident stressors — high demand, generators not performing when called upon and energy imports not showing up. Time to ditch fossilfuels-centric planning. And not just in California.
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). greenhouse gas emissions come from industry. Start with heat.
They stem from the system we chose when we grabbed and relied on fossilfuels," McCarthy said. Let’s grow the demand for them.". Why aren’t we wanting it all and demanding it all? The transformation we need demands significant work in transportation, McCarthy offered. What do these four challenges have in common?
We congratulate the federal government for getting them over the line. Provinces with grids based on fossilfuels tend to have the highest rates. Swapping out gas cars for EVs and gas heating for heat pumps can save households hundreds a month , and affordable power is the key to unlocking it.
Three-quarters of prizes at the UK’s top sustainable advertising awards went to agencies who work for the fossilfuel industry, a DeSmog analysis has revealed. Both agencies are owned by the London-based global media group WPP. Credit: Sam Whitham.
Spring heatwave sends demand soaring in WA, smashing seven year old record in the world's biggest standalone grid that is accelerating its switch away from fossilfuels. The post Spring heatwave smashes seven-year old demand record in W.A.’s ’s main grid appeared first on RenewEconomy.
Globally, more than 1,200 companies have called on governments to ensure recovery efforts address COVID-19 and climate together. . Turning taxpayer dollars into stranded fossilfuel assets is no way to fuel a real economic recovery. In May , executives from 330 companies, including Microsoft, Mars Inc. Pull Quote.
For their part, power companies are exploring ways to build out the renewable energy system to meet the coming surge in industrial electricity demand. An industry-supported roadmap also can help the finance community understand what sorts of investments it needs to make, and it can help governments develop supportive policy, Hight said.
More than 100 billion tons of resources enter the economy every year — everything from metals, minerals and fossilfuels to organic materials from plants and animals. Each year, huge quantities of fossilfuels are used to produce clothes from synthetic fibers each year. 5 opportunities of a circular economy.
Meeting AIs Energy Demands with Innovative Solutions Artificial intelligence has seen explosive growth over the past few years, with generative AI tools like ChatGPT igniting the demand for powerful computing infrastructure. More than just meeting demand, however, is the need to address the environmental impact of AIs growth.
However, the project’s progress remains contingent upon a final investment decision (FID) due in 2025, as well as requisite regulatory permits and supportive government policy. By incorporating this technology, ExxonMobil plans to create a diverse hydrogen supply mix to cater to varying market demands along the Gulf Coast.
This renewable energy potential, coupled with zero carbon emissions when used, has put natural hydrogen at the forefront of global efforts to transition away from fossilfuels. Unlike fossilfuels, it does not emit greenhouse gases when burned, making it valuable in the race to mitigate climate change. For example, a U.S.
While the fuel is barely on the radar in the United States, around the world a green hydrogen rush is underway, and many companies, investors, governments and environmentalists believe it is an energy source that could help end the reign of fossilfuels and slow the world’s warming trajectory. "It In the U.S.,
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. million government investment in new thermal heating technology. million from the government.
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. Supply, meet demand. percent of global greenhouse gas emissions, according to ICAO.
As the world becomes more aware of the need to protect the environment, businesses, governments, and organizations are all increasingly seeking ways to minimize their environmental impact. The growing focus has led to a surge in demand for environmental consultants.
The authors of the report conclude that hydrogen will be a much more expensive heating fuel than natural gas and thus it would be better to prioritise other technologies to decarbonise domestic heating, like heat pumps. In contrast, blue hydrogen, produced using fossilfuels, further weds us to volatile international gas markets.
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