Automakers turn to hybrids even as the industry transitions to EV
With sales of all-electric vehicles (EV) growing slower than expected, major automakers are increasingly catering to their customers with hybrid vehicles. Automakers are reconsidering the viability of hybrid cars and trucks to meet consumer demand. This helps them avoid costly penalties related to federal fuel economy and emissions standards. Hybrids accounted for 8.3% of U.S. […]
Countries at COP28 agree on a climate disaster fund deal
Countries at the COP28 summit agreed on a deal for a disaster fund. This fund will help nations affected by damages caused by the climate crisis. High-income countries have historically opposed the creation of a loss and damage fund to compensate low-income nations. These countries account for the bulk of the historical greenhouse gas emissions. […]
Indonesia eyes geothermal power as it pushes for renewable energy
Indonesia generated enough electricity from geothermal resources last year to power over 2.5 million homes. It is home to around 40 per cent of these resources. The Cop28 climate conference in Dubai for decarbonisation is putting the spotlight back on energy derived from sources such as geothermal resources. The best sites to harness this energy […]
Mining giant Rio Tinto ramps up production of its critical minerals business
Global demand for metals such as copper, a major component of electric vehicles, is expected to grow to about 49 million metric tons by 2035. To meet this demand, mining companies such as Rio Tinto are trying to ramp up the production of critical minerals and are on the frontline of America’s transition to clean […]
The richest 1% emit carbon equal to those of the poorest 66% says Oxfam report
According to the charity Oxfam’s analysis, conducted with the Stockholm Environment Institute, the wealthiest 10% were responsible for 50% of global emissions, while the bottom 50% were responsible for just 8%. The top 1%, as per the report, represents 77 million people who have an estimated income threshold of $140,000 per year. The report also […]
Old coal mines get repurposed to extract rare earth elements
The use of coal to produce energy is a thorny issue. Critics slam the fossil fuel’s huge impact on the environment. Discussions about how to use coal to make the energy transition to a more sustainable future have gained momentum. In May 2023, U.S. firm Ramaco Resources took the lead in offering some insight into […]
More Hong Kong firms are opting to get their ESG reporting checked by external auditors
A study by the Hong Kong Institute of Certified Public Accountants has found that the number of firms opting for external ‘assurance’ has increased in the last two years. The slower pace of adoption by smaller companies is probably due to doubts regarding the costs versus the benefits. Possible reasons why listed companies in Hong […]
Coal use needs to be reduced drastically to meet emissions target
The “State of Climate Action 2023” report by the World Resources Institute paints a concerning picture of the challenges that policymakers face. The report assumes significance in the face of the COP28 climate change summit, which is due to be held in Dubai, United Arab Emirates. Global efforts to limit warming to 1.5°C have failed. […]
Rich nations hit symbolic $100 billion climate fund goal in 2022
Rich countries have finally managed to reach the long-overdue goal to provide $100 billion of climate finance to poor countries in 2022. This is a symbolic target that will go a long way in building trust ahead of the COP28 summit in Dubai. While the figure falls short of the trillions of dollars needed to […]
Climate change forces real estate developers to add weather-proofing
Climate change has increased the risk of natural disaster losses. This has led to a rise in real estate insurance premiums. Commercial real estate developers have voiced concerns over the threat posed by climate change to the stability of their investments. Buildings with good weather-proofing now allow clients to go back to their insurance companies […]
