Climate Change

Source: Reuters

Initiative launched to rank corporate climate claims using carbon offsets

Yahoo News


LONDON – A consultation for a global standard to assess companies’ claims about progress towards internal climate targets and their use of carbon offset credits launched on Tuesday, seeking to bring transparency to an unregulated market.

Many global …

Source: Reuters

Exxon shareholders back board and vote no to faster carbon emission cuts

Nasdaq


HOUSTON- Exxon Mobil Corp XOM.N shareholders on Wednesday backed the energy company’s climate strategy, voting against supporting a resolution filed by activist group Follow This urging faster action to battle climate change.

Shareholders approved, in the preliminary voting session, …

Source: Reuters

TotalEnergies agrees to buy 50% of U.S. renewables company Clearway

Yahoo Finance


PARIS  – TotalEnergies said on Wednesday it has agreed to buy 50% of Clearway Energy Group, the fifth-largest renewables company in the United States, marking the French group’s largest U.S renewables energy acquisition.

TotalEnergies has been branching out …

Source: Reuters

Chevron says world’s largest carbon capture project has ‘a ways to go’ to meet goals

US News


MELBOURNE – Chevron Corp’s Gorgon carbon capture and storage (CCS) project in Australia is working at only half its capacity nearly three years after starting up and the company has no timeframe for delivering on targets it has

Source: CNBC

Big Oil braces for shareholder revolt over climate plans in proxy voting season

CNBC


LONDON — Some of the world’s largest corporate emitters face the prospect of a shareholder rebellion this month, with climate-related votes poised to spike throughout the proxy season.

Oil and gas majors on both sides of the Atlantic are

Source: Reuters

Deals shifting oil, gas assets away from climate committed firms on the rise, report says

Nasdaq


LONDON – Deals in which oil and gas assets move from companies with climate goals to companies without such goals are on the rise, according to a study by the U.S. non-governmental organisation Environmental Defense Fund.

 

A company …

Source: World Oil

Energy transition still means billions in fossil-fuel investment

World Oil


(Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of …

Source: Reuters

Canada climate goals set high hurdle for Suncor oil sands mine extension

Yahoo Finance


CALGARY, Alberta – Canada is favouring oil projects with lower carbon emissions per barrel to help meet its climate targets, a strategy that may block Suncor Energy’s plan to expand bitumen mining to feed its key oil sands …

Source: Reuters

Balkans turns to coal as energy crisis trumps climate commitments

Investing


OSLOMEJ – Balkan nations in southeast Europe are turning to coal as they try to tackle a global surge in energy prices, raising fears among environmentalists that countries are rowing back on commitments to phase out the most polluting …

Source: Reuters

Analysis-Biden plan to aid Europe with LNG poses risk to US climate goals

Reuters


WASHINGTON – U.S. President Joe Biden’s plan to expand liquefied natural gas (LNG) shipments to Europe to cut the region’s dependence on Russian fuel risks undermining his administration’s climate goals by encouraging more gas production and increasing emissions, according …

Source: CNBC

Joe Manchin opposes SEC climate disclosure rule, says it targets fossil fuel companies

CNBC


Sen. Joe Manchin said Monday that he is “deeply concerned” about the new climate disclosures proposed by the Securities and Exchange Commission.

In a letter to the SEC, the West Virginia Democrat said that the proposals go against the …

Source: Bloomberg

Biden poised to use cold-war powers to boost battery metals

Bloomberg


President Joe Biden is poised to invoke as soon as this week Cold War powers to encourage domestic production of critical minerals for electric-vehicle and other types of batteries, according to people familiar with the matter.

The White House …

Source: CNBC

Shell’s board of directors sued for ‘failing to properly prepare’ for the energy transition

CNBC


Shell’s board is being sued for failing to prepare the multinational oil and gas company for the transition away from fossil fuels.

Environmental law firm ClientEarth, a Shell shareholder, said Tuesday that it had notified Shell of its

Source: Reuters

U.S. senators grill regulators over climate policy on natural gas projects

US News


WASHINGTON – Top U.S. senators from both parties on Thursday grilled Democratic energy regulators who recently approved guidelines for approving new natural gas projects that allow consideration of environmental justice, landowner and climate issues.

The three Democrats on

Source: Reuters

EXCLUSIVE U.S. climate envoy Kerry names Rick Duke as deputy

Reuters


WASHINGTON, Feb 7 – U.S. Special Climate Envoy John Kerry has nominated one of his senior advisors, Rick Duke – the architect behind an international deal last year to reduce emissions of the greenhouse gas methane – to be …

Source: Reuters

Russia warns of power price spike if energy transition is hasty

Nasdaq


MOSCOW, Feb 2 – A rushed transition away from fossil fuels risks driving electricity prices higher, a senior Russian official said on Wednesday, responding to German government comments that an EU carbon tax may make renewables more attractive in …

Source: Bloomberg

McKinsey pegs the cost of net-zero 2050 goals at $9.2 trillion a year

World Oil


NEW YORK (Bloomberg) –A new analysis from McKinsey & Co. estimates that the investment, in new infrastructure and systems, needed to meet international climate goals could be $9.2 trillion a year annually through 2050. That’s at least $3.5 …

Source: Oil Now

Exxon announces ambitious plans for net zero emissions by 2050

Oil Now


ExxonMobil on Tuesday announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets.

The net-zero ambition is contained …

Source: CNBC

‘Green’ fuels will cost the consumer — but we need to think long term, Maersk CEO says

CNBC


The CEO of shipping giant Moller-Maersk admitted to CNBC Thursday that shifting to “green” fuels would come at a cost, but emphasized the importance of focusing on the bigger picture rather than short-term pain.

Soren Skou’s comments come a …

Source: Reuters

Column: U.S. energy-related emissions likely to rise in 2022 and 2023

Reuters


U.S. energy-related carbon dioxide emissions are forecast to rise this year and next as strong economic growth overwhelms increases in energy efficiency, deployment of renewables and roll-out of electric vehicles.

The anticipated increase in emissions shows the United States

Source: Reuters

U.S. greenhouse gas emissions jumped 6.2% in 2021-report

Reuters


WASHINGTON – U.S. greenhouse gas emissions rose by 6.2% from 2020 levels last year as the use of coal-fired electricity jumped 17% and drivers returned to the roads after the first year of the coronavirus pandemic, according to a

Source: Reuters

Shell-backed U.S. solar developer raises $775 million in equity

Nasdaq


Jan 6 – Silicon Ranch Corp, the U.S. solar project developer backed by Royal Dutch Shell RDSa.L, on Thursday said it raised $775 million in equity capital from new and existing investors.

The announcement comes as renewable energy, …

Source: Reuters

OPEC sec gen says energy transition can not exclude fossil fuels

Nasdaq


HOUSTON, Dec 8 – The COP 26 climate change conference largely excluded the oil and gas industry, OPEC Secretary General Mohammad Barkindo told a gathering of oil officials on Wednesday, arguing producers need to be included in planning for …

Source: Reuters

U.S. offshore oil auction begins under court order, shadow of climate deal

Nasdaq


Nov 17  – The Biden administration on Wednesday will auction oil drilling rights to 80 million acres in the U.S. Gulf of Mexico days after joining a global agreement that for the first time targeted fossil fuels as the …

Source: CNBC

Oil and gas giants hit back at climate critics, say they’re leaders in energy transition

CNBC


The CEOs of some of the world’s leading energy companies have defended their position in the energy mix after the COP26 climate summit focused attention on the future of the industry.

Energy industry leaders and insiders were plentiful at …

Source: Bloomberg

COP26: Kerry’s global methane pact lacks emissions targets

World Oil


WASHINGTON (Bloomberg) – As the U.S. and European Union sought to recruit nations in a first-ever pact to slash the world’s methane emissions, America’s climate envoy John Kerry kept his sales pitch simple.

Signing the pledge, being released …

Source: Reuters

Biden’s greenhouse gas ‘crackdown’ will still allow flaring

World Oil


WASHINGTON (Bloomberg) –The Biden administration is poised to unveil a crackdown on methane leaks from oil and gas wells that will be its most consequential action yet to reduce greenhouse gases — but is still likely to disappoint …

Source: Reuters

U.S. Congress Democrats grill Big Oil in climate deception probe

Reuters


WASHINGTON (Reuters) -The U.S. Congress on Thursday opened a year’s worth of investigations into whether Big Oil deceived Americans about its role in climate change, with Democratic lawmakers grilling the chiefs of four oil companies and two lobby groups.…

Source: Reuters

Democrats scramble to give Biden a climate win ahead of COP26 summit

World Oil


WASHINGTON (Bloomberg) – Negotiations over the climate provisions in the Democrats’ spending bill have accelerated and are focused on a package of measures that could replicate the emissions reductions of a clean energy plan dropped from the draft …

Source: CNBC

Fossil fuel production ‘dangerously out of sync’ with global climate targets, UN warns

CNBC


LONDON — As world leaders prepare for one of the most important climate summits ever held, U.N.-backed research shows governments are collectively planning to extract far more fossil fuels than would be consistent with global climate targets.

The …