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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.
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.
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.
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.".
Chem-Energy has announced a planned investment of $1 billion in a solar and battery plant. The petroleum products giant is among the many firms in the industry seeking to diversify as the world phases out fossilfuels. Development will take place in Central Texas starting spring 2022.
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.
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.
Denmark set the same goal — phase out new fossilfuel vehicle sales in 2030 — and world-leader Norway plans to make the switch in 2025. Electric vehicles will begin to cost the same as their fossilfuel counterparts between 2025 and 2029, depending on the vehicle type. isn't the only one. Technology advances, for one.
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
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…
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.
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.
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.
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 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.
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.
It’s not just global banks doubling down on carbon-emitting fuels. The post Private equity, like banks, pours money into fossilfuel companies appeared first on ImpactAlpha. Private equity, an opaque corner of the financial industry that oversees more than.
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 ambitious proposal was included in the REPowerEU plan , which detailed a vast number of changes designed to curb reliance on Russian fossilfuels by 2027, and thus catalysing Europe’s transition to renewable energy. In doing so, we could see an acceleration in the transition to net-zero.
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.
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.
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.
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.
Learn about: · An agreement to phase down the use of coal – the most polluting fossilfuel · A $100 billion pledge to help developing nations deal with climate change · A global finance plan to drive $130 trillion of investment in sustainable and green initiatives
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.
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.
Investing in efficiency improvements has held America’s energy use constant over the last 15 years despite a 33 percent increase in GDP, saved households an average of $500 each year on utility bills and created 2.4 Given the magnitude of this challenge , we must ensure that none of our energy investments are at cross-purposes to this goal.
We can invest in a resilient and inclusive economy that builds jobs, infrastructure, growth and stability for the long term. Turning taxpayer dollars into stranded fossilfuel assets is no way to fuel a real economic recovery. Through our actions to tackle one crisis, we can avert another. More companies are speaking up.
We are presented with a rare opportunity to invest in new innovations, rebuild our data and power infrastructures and supply chains to restore and strengthen the economy while healing the environment. Even without those policies — they soon expire — renewables are more than competitive against fossilfuels.
Like fossilfuels, burning biomass also requires huge amounts of water to be abstracted for cooling, increasing water stress at times of drought. A clean and affordable energy future means ending support for biomass and investing in energy efficiency measures and cheap renewables like wind and solar.”
This activity is partly the result of a $140 million investment Plenty announced last year , just one of a slew of similar deals in the indoor ag sector. Consumer demand is fuelinginvestment in CEA," Ceaser explained by email. The facility will supply 100 grocery stores when production begins later this year. Pull Quote.
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.
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