NGOs call out the chip-making energy usage of TSMC
Environmental group Greenpeace and two other NGOs have called on the world’s largest contract chip maker, the Taiwan Semiconductor Manufacturing Co (TSMC), to reduce its massive carbon footprint. TSMC’s role in chip manufacturing has come under scrutiny amid growing concerns about the environmental impact of the semiconductor supply chain. TSMC contracts with the biggest tech […]
StanChart refuses to finance $5 Billion Ugandan Oil Pipeline
Standard Chartered Plc has said that it will not finance an oil pipeline in East Africa that’s been estimated to have a high carbon footprint. The project known as the East Africa Crude Oil Pipeline project plans to carry oil 900 miles from the fields of western Uganda to the coast of Tanzania. The announcement […]
Sale of new diesel trucks to be banned in California by 2036
Regulators in California have voted to ban the sale of new diesel big rigs by 2036 and require all trucks to be zero-emissions by 2042. This decision puts the state at the forefront of mitigating tailpipe pollution in the U.S. The California Air Resources Board unanimously approved the Advanced Clean Fleets rule, the state’s second […]
Coal plants are not the solution to China’s energy security issues
To enhance its energy security, China must invest more in grid infrastructure to improve its flexibility to cope with demand and supply. China approved 20.45GW of coal power in the first quarter. This was more than the 18.55GW in the whole of 2021. There was a power crisis that affected half of China in 2021 […]
Nuclear power is essential for fighting climate change
The world is facing a climate change crisis driven by humanity’s ravenous consumption of carbon-based fossil fuels. In light of this, Germany’s decision to close its last three nuclear power plants to become nuclear-free seems to be a premature choice. Along with Germany, several other countries have begun phasing out nuclear power plants, citing issues […]
Biden to direct federal agencies to invest in disadvantaged communities
U.S. President Joe Biden will sign an executive order which will direct federal agencies to invest in disadvantaged communities. These communities are disproportionately affected by pollution and climate change. In contrast, Republican lawmakers have urged weaker regulation of oil production in order to lower energy prices. There are several ways in which this executive order […]
Germany to power down the last 3 of its nuclear reactors
Germany plans to switch off its last three nuclear reactors and exit atomic power. This is even as the country seeks to move away from fossil fuels and also manage an energy crisis caused by the war in Ukraine. Many Western countries are, in fact, increasing their investments in atomic energy to reduce their emissions. […]
World Bank to provide grant to repair Ukraine’s energy infrastructure
The World Bank announced a $200 million grant to help finance a project to repair Ukraine’s energy infrastructure. Ukraine’s Energy infrastructure has suffered at least $11 billion in damages over the last year. It is one of the most critical areas where Ukraine needs urgent support. Significant damages to the transmission substations are leading to […]
EPA plans to limit tailpipe emissions
The U.S. Environmental Protection Agency (EPA) is preparing to announce significant limits on tailpipe emissions. The measure would require as much as 67% of new vehicles sold in the U.S. by 2032 to be all-electric cars. These limits would be the U.S.′ most aggressive climate regulations to date. They would also create a host of […]
Economic trends in Latin America and the Caribbean region
Latin America and the Caribbean (LAC) economies have proven resilient despite increasing debt stress, inflation and rising global uncertainty. As a result, they should capitalize on the unique opportunities global economy trends offer in nearshoring and the green industry. However, trade openness and FDI flows have mostly been stagnant for this region which remains one […]
