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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?
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.
Harvard University president Lawrence Bacow has announced that the institution will divest from its fossilfuel holdings. The announcement came Tuesday, stating that the institution has already been cutting its investments in fossilfuels.
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.
ESG investments: Exponential potential or surfing one wave? About 77 percent of ESG funds that existed 10 years ago are presently available, whereas only 46 percent of traditional investment vehicles maintain that survivorship. A declining investment rationale for fossilfuels. Mon, 09/21/2020 - 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. Finance & Investing.
Australia runs a great risk of failing to meet its ambitious but achievable renewable energy goals, writes Stephanie Bashir, CEO of Nexa Advisory, who explains why utility-scale energy storage is among the crucial tools in the country’s energy transition toolkit.
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.
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.".
Firm confirms plans to scale back green energy efforts and fundamentally reset strategy Business live latest updates BP will abandon its green ambitions by increasing its oil and gas investment to $10bn a year as part of a fundamental reset of the troubled companys strategy. barrels of oil a day by the end of the decade.
In 2024, about $2 trillion will be invested in clean energy projects — a first for the rapidly expanding sector. The amount is nearly double what will be invested in oil, coal, and gas this year, according to the International Energy Agency’s new report “World Energy Investment 2024.” Since 2015, the ratio of…
The key solutions today are biofuels, only displacing a mere fraction of fossilfuels-based jet fuel, and offsets. This isn't Amazon's first investment in biofuels. Last year, Neste delivered its first batch of sustainable aviation fuel via pipeline for airlines refueling at San Francisco International Airport to use.
Navajo Power is a social benefit corporation focused on utility-scale solar development and is committed to investing profits into local community development projects to "maximize the economic benefits of clean energy for tribal and affected communities.". But these organizations can’t do it alone.
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. This is not climate leadership. It is greenwashing. And it must stop.
Hydrogen can replace fossilfuels in combustion-heavy industries or power fuel cell vehicles without tailpipe emissions. However, most hydrogen produced today relies on fossilfuels, particularly natural gas, which compromises its environmental benefits. The promise of hydrogen is no longer just theoretical.
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
Geothermal energy holds the potential to provide abundant renewable energy at equivalent cost to fossilfuels, and targeted investments could quickly speed its development, according to a new report from Cornell researchers and the nonprofit Clean Air Task Force (CATF).
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 European Investment Bank (EIB) has committed €400 million (US$437 million) to support the solar and battery storage development plans of Greek renewables developer Mytilineos.
Here are three key logistics and transport areas where the UK should be ramping up investment in hydrogen in 2025. Hydrogen fuel cells are the perfect solution for longer-haul trucks which dont go back to a depot overnight to charge. But hydrogen can provide a clean fuel alternative for long-haul shipping.
US public sector workers’ retirement savings invested in projects that pump out a billion tonnes of emissions a year Private equity firms are using US public sector workers’ retirement savings to fund fossilfuel projects pumping more than a billion tonnes of greenhouse gas emissions into the atmosphere every year, according to an analysis.
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. . Wells Fargo has pledged to lend or invest $200 billion to sustainable businesses and projects by 2030.
These include the controversial energy company Drax , the fossilfuel lobby group Offshore Energies UK , and the gas company Cadent. OEUK is the “leading representative body” for the country’s oil and gas industry, while its members include some of the world’s largest fossilfuel companies, such as Shell, ExxonMobil, and Equinor.
The post How oil barons and right-wing billionaires are manipulating the free market to extend fossilfuels appeared first on ImpactAlpha. The House Judiciary Committee has delivered a clear message to the free market: shut up about climate change or pay the price.
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.
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. WisdomTree did not respond to a request for comment from DeSmog. WisdomTree is hardly alone.
Anthoni Salims Strategic Investment The development of this groundbreaking facility ties back to the vision and investments of Anthoni Salim, Indonesia’s influential billionaire. Countries globally can leverage hydrogen-ready plants to transition current fossilfuel systems toward flexible and sustainable energy models.
However, decision-makers have been reluctant to invest in wind energy due to a perception that wind farms require a lot of land compared to electric power plants driven by fossilfuels. Wind power is a source of energy that is both affordable and renewable.
The material is created by repurposing discarded ropes and nets from ocean vessels which is then combined with recycled engine oil to reduce reliance of virgin fossilfuel-based ingredients. The LEGO Group has introduced a new, more sustainable material for selected LEGO tires, made from recycled fishing nets, ropes, and engine oil.
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. Others engaging regularly with ministers on CCS policy include heavy manufacturing companies, CCS technology firms, lobby groups, and investment funds.
Continued investment in carbon-intensive industries will drastically increase the amount of "stranded assets" as the world moves to net-zero emissions, researchers warn.
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.
Tufton Street Links Politicians fronting the PopCon group have a history of working with anti-green think tanks and supporting more fossilfuel extraction. billion invested in fossilfuels via his investment fund Marshall Wace. billion invested in fossilfuels via his investment fund Marshall Wace.
The deposits you make at your retail bank for personal and business accounts sustain the bank’s ability to make loans and investments. Loans and investmentfuel growth. Put simply, a bank’s capital can flow towards fossilfuels or renewable energy, towards local business loans or financing environmentally damaging projects.
Reform has also received more than £500,000 since the last election from Jeremy Hosking, whose investment firm Hosking Partners had more than $134 million (around £108 million) invested in the energy sector at the close of 2021, two thirds of which was in the oil industry, along with millions in coal and gas.
The report projects a rapid shift in the global energy mix, with the share of renewables in global power generation expected to double in the next 15 years while total fossilfuel demand is projected to peak before 2030, depending on the scenario. C by 2100, and reaching a 1.5°C C pathway is increasingly challenging.
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.
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. Green hydrogens potential to replace fossilfuels in transportation , manufacturing, and energy generation is immense.
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. The fossilfuels used to power the company's vehicle and airline fleets contribute to 92 percent of FedEx's carbon footprint, according to its most recent sustainability report.
Dependence on imported fossilfuels can never deliver the energy security we need – nor does it allow us to address global climate change. And while renewables are scaling up rapidly, the annual buildout rates are still insufficient to overcome dependence on fossilfuels. Countries are facing an energy and climate crisis.
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