CNBC LONDON — A Dutch court on Wednesday ruled oil giant Royal Dutch Shell must reduce its carbon emissions by 45% by 2030 from 2019 levels. That’s a much higher reduction than the company’s current aim of lowering its emissions by 20% by 2030. The landmark ruling comes at a time when the world’s largest corporate emitters are under immense pressure to
Reuters Canada’s Suncor Energy (SU.TO) will partner with utility ATCO Ltd (ACOx.TO) to develop a clean hydrogen project near Fort Saskatchewan, Alberta, in one of the most significant steps taken by an oil sands producer to cut greenhouse gas emissions. Canada’s cash-rich oil sands firms are facing mounting pressure to spend on transitioning towards cleaner energy at a time when Prime Minister Justin Trudeau
Reuters LONDON – Countries around the world raised $53 billion last year by charging firms for emitting carbon dioxide (CO2), up almost 18% from 2019 as some imposed new levies and prices in some existing schemes rose, the World Bank said in a report on Tuesday. Many countries are using a price on carbon to help meet their climate goals
COLUMBUS, Ohio & HOUSTON–(BUSINESS WIRE)–Battelle and Catahoula Resources (“Catahoula”) will jointly develop solutions for the capture, transport and sequestration of carbon dioxide produced at ethanol facilities in Nebraska. The agreement pairs the world’s largest private independent research and development company with a portfolio company of private investment firm The Energy and Minerals Group (“EMG”), one of the largest investors in midstream infrastructure in
Reuters Italy has drawn up a series of measures to speed up the time it takes to authorise new renewable energy projects, including the creation of special areas to build them in, a draft law showed. Italy’s complex approval process has slowed down the rollout of green energy schemes, threatening access to EU recovery funds and the achievement of climate
Reuters U.S. engine maker Cummins (CMI.N) said on Monday it would build a plant in Spain to make electrolyser systems that will be used to produce green hydrogen, a zero-carbon fuel which advocates hope can help wean economies off planet-warming power sources. Cummins said in a statement it would spend 50 million euros ($61 million) on the plant in central Spain, which
Nasdaq NEW YORK- U.S. lawmakers plan to introduce a bill on Thursday that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry. The legislation, seen by Reuters, would impose a tax incentive of up to $2.00 for every gallon produced of sustainable aviation fuel, which can
Reuters LONDON – Royal Dutch Shell shareholders overwhelmingly backed the company’s energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change. A non-binding resolution submitted by Shell with the support of a large group of investors to vote on its recently unveiled climate strategy
Reuters LONDON/BRUSSELS – Oil major BP BP.L has lobbied for the EU to support natural gas, a move that exposes divergent views among investors and reflects a wider European dispute about the role of the fossil fuel in the transition to a lower-carbon world. The European Commission – aiming to reach net-zero greenhouse gas emissions by 2050 – had planned to
CNBC Oil companies will increase their investment in renewables over the coming years but won’t become major investors in the technology that underpins the sector, according to a lead author of the International Energy Agency’s Renewable Energy Market Update. Speaking to CNBC’s “Street Signs Europe” on Tuesday, Heymi Bahar explained there was a “changing momentum” when it came to oil
Reuters BERLIN – The German government expects the energy sector to play the biggest role in reducing carbon emissions by 2030, according to a draft of the reform to its climate protection law seen by Reuters on Thursday. The draft law, which is due to be passed by the cabinet next Wednesday, requires the energy sector to cut C02 emissions
CNBC The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met, according to the International Energy Agency. A new report from the Paris-based organization, published Wednesday and entitled “The Role of Critical Minerals in Clean Energy
