World Bank’s IFC to invest in Senegal’s cement manufacturer
To give a boost to low-carbon production, the World Bank’s investment arm, the International Finance Corporation (IFC), has said that it would invest $256 million in Senegal’s largest integrated cement manufacturer, Sococim Industries. For Sococim, this investment will: Support its long-term financing needs Will help replace a part of the company’s current clinker lines with […]
EV leasing company Tusker acquired by Lloyds Bank
To further its net zero aims and grow its vehicle leasing business, UK bank Lloyds Banking Group announced the acquisition of EV-focused vehicle management and leasing company Tusker for about £300 million. The EV100 member Tusker has pledged to electrify all of its vehicles by 2030. With additional purchases, the percentage of EVs in the […]
Outdated energy grids – A climate problem
Presently, 32% of carbon dioxide emissions in the U.S. come from power generation, primarily from utilizing fossil fuels. Fossil fuels like coal and natural gas are burned to produce electricity. The country’s transmission network needs to be updated and designed to handle the expected increase in demand for renewable energy sources like wind and solar. […]
Climate reparations falling short in preventing damage
With decarbonization, carbon capture, and storage, nations have been exploring measures to tackle climate change, enabling businesses and governments to engage in environmental projects in order to offset their emissions elsewhere. In the past, voluntary carbon offset programs were criticized for being insufficiently regulated and perhaps undercutting net-zero goals. U.S. Senator Lindsey Graham said that […]
Tesla’s vow to make 7,500 Tesla chargers available for all
By 2030, the Biden administration hopes that at least 500,000 electric vehicle chargers will be available on US highways. To make it a reality, a number of initiatives were unveiled, including agreements from businesses like Tesla, GM, Ford, and ChargePoint that construct and manage charging infrastructure. In support of this, President Biden hailed Tesla for […]
Government provides £12.4 million for green initiatives
To assist some of the most polluting companies in finding new ways to lower their carbon emissions, the government has unveiled a financial package worth £12.4 million. According to the Department for Energy Security and Net Zero, the financing has helped deploy a variety of new technologies, from heat pumps to equipment that is ready […]
Quantifying the ‘S’ in ESG
The “S” in ESG or a company’s social impact measurement process has a significant impact on how it approaches employee, community, and other stakeholder well-being. The need for quantifying and disclosing social risks and repercussions as part of any environmental, social, and governance (ESG) activities is strengthened by enduring social inequities and the pressing need […]
Tightening EU rules to prevent greenwashing – Says France
As concerns about the implementation of ESG regulation grow, France’s markets watchdog AMF warned that the European Union’s standards for labeling sustainable investment funds need to be tightened to prevent “greenwashing”. Asset managers can categorize funds as sustainable thanks to the EU’s Sustainable Finance Disclosure Regulation (SFDR), however, the AMF suggested that this regulation be […]
UK setting an annual record despite planning barriers
Despite the installation of only two tiny onshore wind turbines in England last year, new UK offshore wind capacity reached an annual record, according to recent statistics. More than ten times as much UK offshore wind capacity as onshore capacity was added in 2022, according to analysis from RenewableUK. A total of 3511MW of new […]
EA’s plans for blue hydrogen plants
The Environment Agency (EA) has released new regulatory guidance on the UK’s blue hydrogen industry that urges developers to aim for a 95% carbon capture rate or provide a thorough justification for why they are unable to do so. The advice is intended for any organization that plans to apply for an environmental permit for […]
