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 on coal to outright defiance. The International Energy Agency said in its “Net Zero by 2050” report last week that
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
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
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 at a time when the world’s largest corporate emitters are under immense pressure to set short, medium and long-term emissions
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 officials sued Exxon and other energy companies in 2017 seeking damages for rising sea levels they blamed on fossil fuel emissions, prompting a countersuit
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
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 Spain’s Repsol , aim to divest parts of their renewables business to raise money to reduce debt and pay for
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 or clean energy. So though no scientists have quite accomplished creating usable energy from fusion just yet, a handful of companies are
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 emissions would begin to decline by 2030, and he said the country will reach carbon neutrality by 2060 — in four
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