Climate Change

Source: Reuters

Reuters Events: Power CEOs defend role for natgas in shift to climate-friendly grid

Reuters


WASHINGTON/MADRID/BOSTON – Power company executives argued during a global energy conference this week that natural gas will have a long-lasting role in the transition to a climate-friendly global economy, even as environmental groups, progressive politicians, and intergovernmental organizations contend …

Source: Reuters

Shell urged to drop appeal over landmark climate ruling

Reuters


LONDON – A Dutch activist group that won a legal battle against Royal Dutch Shell RDSa.L over its climate strategy has urged the company to ditch its appeal and hold joint talks on how to reduce its emissions, according …

Source: CNBC

The risk of the energy transition is that it only benefits a few, CEO says

CNBC


The coronavirus pandemic has sped up a transition in the energy industry, according to the CEO of Italian energy firm Enel, but a number of issues need to be addressed to ensure change takes place in a measured manner.

Source: Reuters

Reuters Events-Duke Energy CEO sees hurdles for Biden’s decarbonization timeline

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U.S. President Joe Biden’s target to decarbonize the nation’s power industry by 2035 will only be achievable if clean energy technologies like advanced nuclear and carbon capture rapidly become commercially viable, according the chief executive of leading U.S. utility …

Underdog activist Engine No. 1 is launching an ETF after big Exxon win

Underdog activist Engine No. 1 is launching an ETF after big Exxon win

CNBC


Engine No. 1, the upstart activist firm that put three candidates on Exxon’s board of directors, is launching an exchange-traded fund in a bet that shareholder activism will take center stage in coming years.

The Engine No. 1 Transform …

Source: Fox Business

Biden, top financial regulators to focus on climate change at White House meeting

Fox Business


President Biden is slated to meet with top financial regulators on Monday afternoon in the Oval Office, during which they are expected to discuss a spate of issues including the risks that climate change poses to the financial …

Source: CNBC

These are the world’s largest banks that are increasing and decreasing their fossil fuel financing

CNBC


The 60 largest commercial and investment banks have collectively financed $3.8 trillion in fossil fuel companies between 2016 and 2020, the five years since the Paris Agreement was signed, according to a report published in March from a collection …

Source: CNBC

Wind turbine giant Siemens Gamesa lays out plan to drive down cost of ‘green’ hydrogen

CNBC


So-called “green” hydrogen production using onshore wind turbines could achieve price parity with fossil-based hydrogen by the year 2030, according to a white paper from Siemens Gamesa Renewable Energy.

In a statement on Wednesday the firm — a …

Source: Reuters

Canada’s oil sands producers form alliance to achieve net-zero emissions by 2050

Reuters


Canadian oil sands producers said on Wednesday they would form an alliance to achieve net-zero greenhouse gas emissions from their operations by 2050, as the cash-rich firms come under pressure to meet the country’s goal on energy transition.

Oil …

Source: Reuters

U.S. seeks less costly clean hydrogen in climate fight

Reuters


WASHINGTON – The Biden administration on Monday set a goal of reducing the cost of producing clean hydrogen, a fuel that could reduce dependence on others that emit greenhouse gases that cause climate change.

The Department of Energy (DOE) …

Source: Reuters

BlackRock CEO says Shell decarbonisation ruling “not a solution”

Reuters


MILAN – Last week’s Dutch court decision against Royal Dutch Shell RDSa.L is not the way to solve the global decarbonisation issue and risks shifting the problem to private firms, the head of the world’s largest money manager said …

Source: Reuters

Climate change risks will affect U.S. bank capital in long-run – official

Reuters


WASHINGTON – U.S. regulators will “eventually” have to factor climate change risks into bank capital rules, but it is still too soon to say when that would become necessary, a top official told Reuters.

Acting Comptroller of the Currency

June 2, 2021 - 3:30 pm Climate Change, Closing Bell Story‎, Finance
Source: CNBC

After a week of setbacks for Big Oil, France’s Total wins support for its climate strategy

CNBC


LONDON — Investors in French oil giant Total on Friday backed the company’s strategy at its annual shareholder meeting, including plans to tackle the climate emergency, according to chairman and CEO Patrick Pouyanne.

The Paris-based energy major had sought …

Source: Reuters

Top Exxon investors State Street, Vanguard backed activist nominees

Reuters


Asset manager State Street Corp voted for two of the four candidates put forward by activist hedge fund Engine No. 1 for Exxon Mobil’s board, a spokesman for the Boston firm said late on Thursday.

State Street was Exxon’s …

Source: Reuters

France’s Total to face climate plan pressure at investor meeting

Reuters


Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure.

The …

Source: Reuters

Factbox: IEA’s urgent fossil fuel warning earns mixed reception from producers

Reuters


A stark appeal by the world’s top energy body to stop investment in new fossil fuel projects by next year has met a mixed reception from the world’s top producers – from guarded praise and pledges to cut back …

Source: Reuters

U.S. engine maker Cummins plans plant for green hydrogen kit in Spain

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 …

Source: Reuters

U.S. lawmakers to propose tax credit for sustainable aviation fuel

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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 …

Source: Reuters

Shell shareholders increase pressure for further climate action

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 …

Big Oil won’t become major investors in renewable technology even as investment soars, IEA analyst says

Big Oil won’t become major investors in renewable technology even as investment soars, IEA analyst says

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 …

Source: CNBC

Big Oil and its green ambitions could be about to get a serious reality check

CNBC


LONDON — The month of May promises to be a ground-breaking one for Big Oil.

Oil and gas majors on both sides of the Atlantic are preparing to hold their annual shareholder meetings in the coming weeks. It comes …

Source: Reuters

Texas governor backs Exxon Mobil petition in climate case

Reuters


The governor of Texas in an unusual move on Thursday asked the state’s Supreme Court to accept an Exxon Mobil Corp (NYSE:XOM) petition seeking to reverse a state court decision in a climate change case.

California municipal …

Source: Reuters

Energy sector to bear brunt of stepped up German climate law: draft

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 …

Source: Reuters

Electric vehicles and renewables will need a dramatic rise in mineral supply, IEA warns

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 …

Source: Reuters

Italy’s Eni to shed retail-renewable energy stake

Reuters


MILAN- Italian energy group Eni is planning to spin off a minority stake in its new retail and renewable business next year, it said on Friday, after announcing first quarter profits that missed expectations.

Several European energy companies, including …

Source: The TAE Technologies fusion machine, Norman, in the company’s lab in Foothill Ranch, California. Norman was built from the middle of 2016 to mid-2017 and cost $150 million to build. It is 22 feet high, 80 feet long and weighs 60,000 pounds.Photo courtesy TAE Technologies

Look inside this lab where scientists are recreating the energy of the sun to produce nearly unlimited clean energy

CNBC


Recreating in a lab the nuclear reaction that powers the sun and other stars — which is called nuclear fusion — is a feat as complex as it sounds.

Fusion has the potential to create massive amounts of carbon-free …

April 30, 2021 - 1:30 pm Climate Change, Closing Bell Story‎, Energy News, Nuclear
Source: CNBC

China has ‘no other choice’ but to rely on coal power for now, official says

CNBC


BEIJING — China has ambitious goals for cutting its carbon emissions, but it won’t be abandoning coal power anytime soon as it keeps its eye firmly on economic targets.

President Xi Jinping said in September that the country’s carbon …

Source: CNBC

Senate votes to restore Obama-era regulation of methane, a climate-warming gas

CNBC


The U.S. Senate on Wednesday voted to reverse former President Donald Trump’s move to weaken Obama-era regulations designed to reduce climate-changing methane emissions from oil and gas fields.

Senate votes to restore Obama-era regulation of methane, a climate-warming gas- oil and gas 360

The 52-42 vote sets up the first official reinstatement of

Source: Reuters

Farmers struggle to break into booming carbon-credit market

Reuters


When Microsoft Corp made a massive purchase of carbon credits in January, it turned to a relatively new source: farmers who plant crops meant to trap carbon in the soil.

The credits are financial instruments generated by projects that …

Source: Reuters

Column: Who will pay for the energy transition? Kemp

Reuters


LONDON – The transition from a fossil-fuel dominated energy system to one with zero emissions would require trillions of dollars of investment in new production, distribution and consumption equipment worldwide.

 

New investments could support millions of new jobs …