Reuters WASHINGTON – President-elect Joe Biden has vowed an overhaul of U.S. energy and environment policy to fight climate change, with a goal of bringing the economy to net-zero emissions by 2050. While the plan has yet to be clearly defined, it includes things like ramping up clean energy technology and usage, reducing dependence on fossil fuels, federal procurement of
Reuters LONDON – Oil companies such as BP and Shell are nurturing nature as a future revenue stream, betting on an expected rise in carbon credit prices as their fossil fuel profits ebb. BP last year put $5 million into Finite Carbon, a company that connects forestry owners with companies seeking to offset their climate-warming emissions via-tree planting. The Californian
Reuters TOKYO – Fossil fuels should account for less than half of Japan’s mix of power sources in 2030, a group of ruling party lawmakers proposed on Wednesday as Prime Minister Yoshihide Suga aims to cut the nation’s greenhouse gas emissions to net zero by 2050. That would be sharply down from the 75.8% that fossil fuels such as coal
Reuters RIO DE JANEIRO – Petrobras does not expect to invest in renewables over the next five years, Chief Executive Roberto Castello Branco said on Tuesday, adding that the Brazilian state-controlled company will instead put money into technologies to reduce the carbon footprint of its oil extraction activities. Castello Branco has repeatedly said Petroleo Brasileiro SA, as the company is
Reuters OSLO – China’s greenhouse gas emissions will increase in 2020 compared to 2019 as they have rebounded after the COVID-19 outbreak, the head of the International Energy Agency said on Wednesday. “As of today, Chinese emissions this year, 2020, will be higher than in 2019, they rebounded,” Fatih Birol told a digital energy conference organised by Norwegian oil firm
Reuters BRUSSELS – The European Union has drafted a deal to curb greenhouse gas emissions by at least 55% by 2030, against 1990 levels, a target it hopes its 27 members will endorse at a summit next month, the document showed. If the Dec 10-11 EU leaders’ meeting approves the draft conclusions seen by Reuters, it could make the EU
Reuters LONDON/BRUSSELS – Can you put a price on pollution? Some of the world’s biggest economies are doing just that as they wrestle with how to make good on grand pledges to tame planet-warming emissions. Matters are coming to a head. China, Japan and South Korea have all followed the European Union in pledging to cut emissions to “net zero”
Reuters LONDON – Investors are pouring money into green funds, banking on a Joe Biden presidency in the United States for a further boost to the renewable and alternative energy industry at the expense of traditional oil and gas businesses. Shares in solar and wind energy businesses, electric vehicle companies and environmental technology pioneers have been on the rise for
Energy-pedia Total has signed a strategic framework agreement with the Abu Dhabi National Oil Company (ADNOC), to explore joint research, development and deployment partnership opportunities in the areas of CO2 emission reductions and carbon capture, utilization and storage (CCUS). The agreement brings together the best-in-class in low carbon technologies from ADNOC and Total, and expands on the long-standing partnership and collaboration between
CNBC LONDON — The prospect of a Joe Biden presidency and the most progressive climate strategy the U.S. has ever attempted is not something that should concern the energy industry, oil and gas executives have told CNBC. Instead, they hope President-elect Biden will engage directly with them as he rolls out his energy plan. Biden, who has won the U.S. election according to NBC
EIA After rising by 3% in 2018, energy-related carbon dioxide (CO2) emissions fell 3% in the United States in 2019. According to the U.S. Energy Information Administration’s (EIA) U.S. Energy-Related Carbon Dioxide Emissions, 2019 analysis, total energy-related CO2 emissions in 2019 were about 150 million metric tons (MMmt) lower than their 2018 level. EIA attributes nearly all (96%) of this decline to
Reuters BRUSSELS – The European Union is considering a plan to increase its offshore wind energy capacity five-fold this decade and 25-fold by 2050, as it seeks to become climate neutral by mid-century, according to a draft policy. The 27-nation EU, which is already home to 42% of the world’s offshore wind capacity, says the technology now produces clean power
