COP15 to see more focus on biodiversity
According to HSBC Global Research, the upcoming biodiversity COP will lead to a greater emphasis on biodiversity in green bonds. In addition, according to HSBC, the UN Convention on Biological Diversity’s 15th Conference of the Parties (COP15), which is set to take place in Montreal, Canada, in December, will move biodiversity “up the agenda” for […]
190 million raised by Sweden’s H2 Green Steel
In order to establish a steel plant in the north of Sweden that would begin operations in 2024 without the use of fossil fuels, Swedish steel business H2 Green Steel was able to raise 190 million euros from a group of investors. By 2030, H2 Green Steel wants to produce 5 million tonnes of green […]
UK’s to become the world’s first net zero finance centre
Last month, the UK government was ordered to produce an updated climate strategy outlining how it will accomplish its own climate targets after the High Court ruled that the net-zero policy was illegal. The London Fire Brigade experienced its busiest day since the Second World War while the UK set a new record high temperature […]
V2G milestone achieved by Octopus Energy and National Grid
Following the successful testing of cutting-edge vehicle-to-grid technology (V2G), Octopus Energy Group and National Grid ESO concluded that one million electric vehicles (EVs) could export power to the grid equal to that produced by 5,000 onshore wind turbines. In addition, the Balancing Mechanism (BM), the primary tool used by the National Grid ESO to balance […]
Oil industry gearing up for carbon capture projects
According to proponents of oil and gas, tax credits in the $430 billion U.S. climate and tax bill that will be signed into law this week will jump-start carbon sequestration projects and offset start-up costs for anti-pollution initiatives. As a result, hubs for carbon capture and storage that accept gases from oil refineries, chemical plants, […]
U.S. grant to limit emissions in the transportation sector
In an effort to transition to cleaner, lower-emission transportation, the U.S. Transportation Department announced that it is giving cities and states subsidies totaling $1.66 billion to purchase 1,800 buses. In addition, cities and states will be able to retire older, more environmentally harmful buses thanks to the $1 trillion infrastructure law’s support for 150 bus […]
Climate and Health Care Legislation signed by Biden
President Joe Biden delivered the “final piece” of his scaled-back domestic plan on Tuesday, August 16, 2022, by signing the climate change and health care bill as he seeks to improve his party’s position with voters before the midterm elections. The bill includes: Federal investment of some $375 billion to fight climate change Cap on […]
Rise in First Solar stocks after climate bill approval
This past weekend, the U.S. Senate approved the $430 billion Inflation Reduction Act, which contains funds to combat climate change. As the bill moves into the House, shares of renewable energy companies are rising. First Solar, Inc. (NASDAQ:FSLR) was last noted up 10.4% to trade at $112.48. Guggenheim and J.P. Morgan Securities upgraded the stock […]
Passed climate bill to reduce U.S. emissions
After decades of political squabbling and the concealment of the fossil fuel industry, the U.S. is almost certain to make its first substantial effort to address the climate catastrophe. By the decade’s end, the Inflation Reduction Act aims at reducing America’s emissions by about 40% from 2005. This reduction would put the U.S. within striking […]
U.S. fuel retailers against the inclusion of tax credit
The inclusion of a tax credit for sustainable aviation fuel (SAF) in Democrats’ $430 billion spending bill is being resisted by American gasoline retailers who claim SAF is less effective and more carbon intensive than renewable diesel. However, as part of a tax and climate bill that aims to reduce U.S. carbon emissions by nearly […]
