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Pooja Kesavan

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Pooja Kesavan reports on sustainable finance, corporates and climate issues, among many other categories, at Sustainability Economics News. She has previously worked as a digital journalist for Reuters and Gulf News. Her interests include nature reporting, environment, and international policies.

Scotiabank’s 2024 Net Zero Research Fund calls out for grant submissions

Scotiabank, one of Canada’s largest multinational banking firms in Toronto, revealed its call for grant submissions. The Net-Zero Research Fund is open to organizations within […]

Australia’s Macquarie launches $1.5 billion Indian EV financing platform

The Australian financial giant Macquarie Group has revealed its initiative to establish an electric vehicle (EV) financing platform to revolutionize India’s transportation industry.  Macquarie’s latest […]

Bhutan, Tiger Conservation Coalition to raise $1 billion for tiger protection

The Sustainable Finance for Tiger Landscapes Conference ended positively, a landmark event for global conservation. Her Majesty The Queen of Bhutan inaugurated the conference, championing […]

Carbon removal registry reaches breakthrough by certifying first project

The newly launched Carbon Removal Registry Isometric made its debut on Monday, issuing its first credits to the Frontier fund led by Stripe.  While the […]

Enel raises coupons on $11 billion ESG bonds after missing emissions targets

Enel SpA will increase the interest payments on its sustainability-linked bonds following a penalty triggered by its failure to meet greenhouse gas emissions targets in […]

Fed to implement Clean Electricity Investment Tax Credit

The federal government is set to advance the Clean Electricity Investment Tax Credit (Clean Electricity ITC), initially proposed last year. This initiative entails a 15% […]

Biden-Harris administration announces first recipients of $1.93 billion clean energy manufacturing investment

The Biden-Harris Administration has revealed the first recipients of significant investments in clean energy manufacturing. As a component of the comprehensive Investing in America agenda, […]

Europe’s heatwave difficult for human body to cope, scientists say

According to the EU’s Copernicus climate monitoring service and the World Meteorological Organization, as climate change drives temperatures higher, Europe is experiencing more frequent and […]

PM Sunak must do more to tackle climate change, advisory body says

The head of the UK government’s advisory body has stated that Prime Minister Rishi Sunak needs to ramp up efforts in addressing climate change, particularly […]

Leaders gather in Canada to discuss global plastic treaty

World leaders will convene in the capital of Canada this week to discuss the advancements made in drafting the first global treaty on curbing the […]

Basic Energy and Japan’s Renova join forces for wind project

Basic Energy Corp. solidified its collaboration with Japan’s Renova Inc. through a joint development and shareholder agreement concerning the Mabini wind project, which is projected to require an investment of P4.5 billion.

Investor returns could suffer from low renewable energy prices, EU energy chief warns 

Speaking at the Irena Assembly in Abu Dhabi on Wednesday, EU energy commissioner Kadri Simson said that reducing European electricity prices could bring down returns for investors and producers. 

UN’s Net-Zero Alliance releases ambitious protocol to halve emissions by 2030

The UN-led Net-Zero Asset Owner Alliance launches the fourth edition of its Target-Setting Protocol. Covering most major asset classes for the first time, it will guide emission reduction efforts over the next five years, aiming to halve emissions by 2030.

Biden to announce winners of $2 billion in green tax credits 

Siemens Energy Inc., a renewable energy firm, and Danish electrolyzer manufacturer Topsoe A/S are among the numerous recipients poised to benefit from approximately $2 billion in clean energy tax credits, slated for announcement by the Biden administration on Friday. 

Banks wake up as physical risks of climate change rapidly grow

As banks strive to limit global warming to 1.5°C, they face increasing financial risks. With each temperature rise, the threat of economic upheaval grows, challenging the financial sector's stability.

Scotiabank issues first €1 billion green bond in European market 

Scotiabank has launched its first-ever €1 billion, 5-year senior fixed-rate green bond in the European market. This issuance aligns with Scotiabank's Sustainable Issuance Framework, released on April 5, 2024. 

EPA establishes national limits on ‘forever chemicals’ in drinking water 

The Environmental Protection Agency (EPA) has set nationwide restrictions on six varieties of perfluoroalkyl and polyfluoroalkyl substances (PFAS) in drinking water, marking the first time such limits have been established.

Apple to expand its clean energy investment by 2030

Apple announced its decision to ramp up clean energy initiatives worldwide towards achieving carbon neutrality across its operations by 2030. 

White House renews talks on declaring climate emergency

White House officials are revisiting the possibility of declaring a national climate emergency, a groundbreaking action that could grant federal powers to limit oil development. 

Climate change to cause $38 trillion losses a year by 2049

Climate change is projected to cause annual economic losses totaling $38 trillion by 2049, according to findings from the Potsdam Institute for Climate Impact Research (PIK). This will occur as extreme weather events disrupt agricultural output, diminish labor productivity, and damage infrastructure.

Kenya’s carbon credits attract attention from Netflix, Apple, Shell

According to a new report by the World Bank, companies like Netflix, Apple, and Shell are investing in Kenya's carbon credits. Kenya is Africa's second-largest voluntary carbon market (VCM) credit issuer, following the Democratic Republic of the Congo. 

Green data centres help drive investments in Southeast Asia, new report says 

A report released Monday highlights a notable rise in green investments across Southeast Asia in 2023, driven partly by green data center projects. However, the report notes that funding remains insufficient. 

Smart energy company completes Series C funding of $55 million 

GridBeyond, a smart energy company, has completed a Series C funding round of €52M ($55 million). This funding will aid the company in scaling up its operations, supporting international expansion, significantly growing its presence in the US, and continuing investment in research and development to contribute to a zero-carbon future. 

Dubai comes to a standstill as cloud seeding causes heavy rains, floods

Torrential rains have caused flooding across the United Arab Emirates, leading to flight cancellations, school closures, and traffic jams. The heavy rainfall is partly due to cloud seeding. 

Germany’s coal mines emit more methane than reported, study says 

According to a recent analysis by Ember, German coal mines emit significantly more methane than officially reported to the United Nations. 

Industrial gas manufacturer receives funding to build hydrogen refueling stations in Germany

On Monday, Air Products and Chemicals, an industrial gas manufacturer based in Pennsylvania, announced that it had secured funding to construct two hydrogen refueling stations in Germany. 

Singapore’s carbon management firm and Malaysian University collaborate to spearhead carbon projects 

Universiti Teknologi Malaysia (UTM) and Climate Resources Exchange International (CRX) from Singapore have signed a Memorandum of Understanding (MoU) to lead carbon-related projects in Malaysia. This partnership aims to harness the strengths of both countries to tackle urgent climate issues effectively. 

India’s Mahindra Group to invest ₹1,200 crore in hybrid solar, wind project 

On Monday, Mahindra Group declared a Rs 1,200 crore investment in renewable energy projects in India, including a 150 MW hybrid project combining solar and wind energy. 

Mexico’s presidential candidate vows $13.6 billion to boost the nation’s renewable energy 

The frontrunner for Mexico's presidency, Claudia Sheinbaum, has proposed a plan to allocate approximately $13.6 billion towards expanding the country's use of renewable energy while also introducing new gas-powered plants. 

Azerbaijan to address disagreements on climate finance at COP29 

The Presidency has begun preparations for the upcoming UN climate talks in Baku this November. Officials from Azerbaijan, the host nation, note early disagreements among states and parties regarding the summit's main focus, climate finance. 

EU, UK continue to lead G20 in low-carbon policies: report 

Since the first edition in 2021, the EU and the UK have consistently held the leading positions in BloombergNEF's assessment of the Group of 20's low-carbon policy frameworks, and this trend has continued into the present year. 

India braces for soaring temperature as parts of the nation already hit 42°C

India is preparing for a temperature surge in the upcoming weeks, which could strain power grids and endanger lives, especially as election rallies increase. 

Biodel Ag, Carbon Asset Solutions partner to deliver accurate carbon credit measurement and regenerative programming 

Biodel Ag, a US company specializing in regenerative agriculture carbon projects, has partnered with Carbon Asset Solutions Ltd., a carbon registry and MRV provider. Together, they will offer precise carbon credit measurement and regenerative carbon programming as a comprehensive service. 

Climate advocates push Japan’s top banks for stricter board oversight

Climate groups, including Australia's Market Forces, Japan's Kiko Network, and a representative from the Rainforest Action Network, have submitted shareholder proposals to Japan's leading banks, including Mitsubishi UFJ Financial Group.

Debt-for-nature swaps could generate $100 billion for climate battle: report

A recent report by the International Institute for Environment and Development (IIED), a UK-based non-profit organization, suggests that debt-for-nature swaps could potentially yield $100 billion to combat climate change. 

Trump victory no threat to ESG funds, assures Impax CEO

Ian Simm, founder and CEO of Impax Asset Management, believes that investment funds emphasizing environmental, social, and governance (ESG) factors can withstand a potential victory by Donald Trump in the upcoming US Presidential election.

Oklahoma sues two energy companies, accusing them of manipulating natural gas prices 

According to a press release from the Oklahoma Attorney General's office on Wednesday, the state has filed a lawsuit against two energy companies, alleging manipulation of natural gas prices during Winter Storm Uri in 2021.

US achieves clean energy milestone on public lands

On Thursday, the Biden administration announced that the United States had surpassed its target of permitting over 25 gigawatts of clean energy projects on public lands by 2025. 

Leaders under pressure to resign as SBTi alters carbon credit guidelines

The board and CEO of the Science Based Targets initiative faced calls to step down following changes to the United Nations-backed guidelines on companies' usage of carbon credits.

Japan’s greenhouse gas emissions drop to record low

Government data revealed that Japan experienced a 2.5% decline in greenhouse gas emissions, reaching a historic low during the fiscal year ending in March 2023. This reduction was attributed to decreased emissions within the industrial and service sectors.

Technology provider releases first sustainability report

Tango has taken a significant step in its sustainability efforts by releasing its first Sustainability Report for 2023. In this report, Tango has outlined its ambitious goal of achieving carbon neutrality by 2030, positioning itself as a leader among real estate technology providers.

Global carbon credit market to hit $84.4 billion by 2050

As efforts to combat climate change intensify, there are currently 73 carbon pricing mechanisms in operation worldwide as of April 1, 2023. These mechanisms collectively cover a significant 23.04% of global greenhouse gas emissions. 

EPA decision on California EV rules upheld by US court

On Tuesday, a US appeals court upheld the Environmental Protection Agency's ruling, allowing California to establish its regulations for tailpipe emissions and electric vehicle standards. 

EU pushes back against Chinese clean-tech investments, favors local suppliers

The European Union intensified its scrutiny of Chinese clean-tech investments, raising concerns about the potential displacement of local suppliers as part of EU initiatives to transition towards a green economy. 

US EPA introduces rule on cutting chemical plant pollution

On Tuesday, the US Environmental Protection Agency officially enacted a regulation to diminish cancer-causing toxic air emissions from chemical plants. This rule mandates regular monitoring of air quality to safeguard nearby communities.

Chevron to invest in ION Clean Energy, aims at carbon capture tech 

Chevron New Energies (CNE), a division of Chevron Inc., has invested significantly in ION Clean Energy (ION), a technology company based in Boulder. ION specializes in post-combustion carbon capture technology using its ICE-31 liquid amine system. 

US SEC pauses climate disclosure mandates for pending judicial review

Amid political criticism, the US Securities and Exchange Commission (SEC) has postponed implementing new climate-related disclosure requirements, citing pending judicial review. 

Fed will resist political pressure to pursue green goals: Powell 

During his address at Stanford University on Wednesday, Fed Chairman Jerome Powell stressed that the Federal Reserve is not a climate regulator and will firmly oppose any attempts to compel it towards green objectives. 

GCM strengthens real estate investments team 

Greenbacker Capital Management (GCM) has bolstered its real estate investments team with the appointment of Evan Sherman as Head of Real Estate Acquisitions, underscoring its commitment to sustainability-driven investment strategies. Sherman's addition reinforces GCM's focus on acquiring undervalued real estate for distributed generation, storage, and EV charging infrastructure, as part of its fourth sustainability-driven investment strategy.

Renewable energy growth falls short of climate targets, says leading think tank

According to a report released on Thursday by the prominent think tank REN21, the global addition of renewable energy capacity fell short of the necessary levels to meet climate objectives. 

Investors show a growing appetite for environment-conscious companies 

Amidst a changing landscape in investment strategies, sustainable investing emerges as a compelling avenue for those seeking broader objectives beyond mere financial gain in portfolio building. 

US Treasury Chief hints at action against China’s clean energy surge

On Wednesday, US Treasury Secretary Janet Yellen did not dismiss the possibility of taking further measures to safeguard American clean energy sectors against China's overinvestment and production capabilities. 

Citigroup, JPMorgan, Royal Bank of Canada to disclose a new climate metric under agreements with New York City

Citigroup, JPMorgan, and the Royal Bank of Canada (RBC) will introduce a new climate measure under deals by New York City Comptroller Brad Lander. 

Australia to invest $1 billion in solar panel manufacturing

Australian Prime Minister Anthony Albanese has unveiled the Solar Sunshot program to bolster the nation’s renewable energy sector and create job opportunities in regional areas. This initiative aims to propel Australia towards becoming a renewable energy powerhouse, both domestically and internationally.

Power supplier TVA to shut down 9 coal-fire plants, rebuild energy complex

In a press release on Tuesday, power supplier Tennessee Valley Authority (TVA) announced its decision to retire the Kingston Fossil Plant and construct an energy complex at the site by the end of 2027. 

EVs to overtake petrol cars in Norway by end of this year 

According to calculations by Reuters and analysts, Norway is on course to have more battery electric vehicles (BEVs) on its roads than petrol cars by the end of this year or early 2025, marking a historic milestone for any nation. 

EU’s $43 billion fund to be the high-stakes bet on Europe’s climate targets

Early outcomes from the European Union's Innovation Fund, a €40 billion ($43 billion) investment initiative pivotal to Europe's zero-carbon economy goals by mid-century, are surfacing. 

Taiwan hit by the strongest earthquake in a quarter of a century; triggers tsunami warnings

Taiwan experienced its most powerful earthquake in twenty-five years, which collapsed numerous buildings on the eastern side of the island, injured over 50 people, and disrupted certain chip production lines.

Asset management firm to lead $50 billion investment in offshore wind project 

Through its offshore wind unit Corio Generation Ltd., Macquarie Asset Management is investing $50 billion in offshore wind projects across various markets over the next seven years. 

Malaysia’s Petronas and JERA signs agreement for carbon capture study

Malaysia's state-run energy firm Petronas announced on Tuesday a partnership with Japanese power generation company JERA to assess the viability of the carbon capture and storage (CCS) process. 

Swedish steelmaker to invest $4.8 bln mln in fossil-free steel mill

Sweden’s SSAB announced on Tuesday that it plans to invest 4.5 billion euros ($4.83 billion) in constructing a fossil-free mini-mill in Lulea. 

31 countries hit 5% EV sales, signaling mass adoption: analysis 

According to a Bloomberg Green analysis, electric vehicles have reached a pivotal tipping point globally, with 31 countries surpassing the threshold of 5% of new car sales being purely electric, marking the beginning of mass adoption and rapid shifts in technological preferences.

Goldman Sachs Renewables MN8 raises $325 million funding

MN8 Energy, a producer of solar energy and energy storage, announced it had secured $325 million through a private placement of convertible preferred stock. The funds will fuel the company's growth and expansion efforts.

China’s power firm revamps natural gas business post solar spin-off

GCL Holdings, a privately owned Chinese energy company, is shifting its focus to developing a natural gas business. According to company executives interviewed by Reuters, it's selling off many solar installations to invest in gas import capabilities and trading operations. 

Climate-driven Amazon drought spurs devastating wildfires in Venezuela

On Monday, data showed Venezuela facing a surge in wildfires due to a drought linked to climate change in the Amazon rainforest region.

JX Nippon and Chevron sign MOU to explore CCS collaboration

In a significant move towards advancing lower carbon solutions, JX Nippon Oil & Gas Exploration Corporation and Chevron New Energies, a division of Chevron U.S.A. Inc., have inked a Memorandum of Understanding (MOU). This agreement sets a framework to evaluate the export of carbon dioxide (CO2) from Japan to carbon capture and storage (CCS) projects in Australia and across the Asia Pacific region.

India’s hydropower plummets to 38-year low amid erratic rainfall, leading to CFPP dependence

According to a Reuters analysis of government data, India experienced its most significant decline in hydropower output in at least 38 years, with a 16.3% decrease during the fiscal year ending on March 31. This drop was attributed to erratic rainfall patterns, which increased dependence on coal-fired power generation to meet increased demand.

Citi says 40% energy clients lack greenhouse gas reduction plans

Nearly half of the energy companies Citi Bank provides lending to lack strategies for reducing greenhouse gas emissions, as disclosed in a climate report released by the fourth-largest U.S. bank on Thursday.

The focus of govt incentives will go into green mobility: Hitachi Energy Chairman

Global investment in clean energy has surged to unprecedented levels, reaching a staggering US$1.77 trillion, as revealed by the latest Energy Transition Investment Trends 2024 findings. This represents a remarkable 17% increase over the past year alone.

US finalizes tighter tailpipe emissions standards for heavy-duty vehicles

On Friday, the US government announced it was in the final stages of implementing more stringent tailpipe emissions standards for heavy-duty vehicles such as semi-trucks and buses. However, these revised regulations are not as stringent as initially proposed in 2023.

US landfill methane output underestimated by 40%: study

A recent study published in Science reveals that methane emissions from prominent US landfills are, on average, 40% higher than previously documented. Utilizing aerial surveys, scientists identified point source emissions from numerous waste sites. 

Solar industry set to soar as US grapples with insatiable energy needs

As Dan Shugar, the CEO of Nextracker Inc., stated, the unyielding demand for electricity in the United States is poised to overshadow obstacles confronting the solar industry, driving an unprecedented surge in panel installations. 

New York set new records for hourly wind and solar generation

On Monday, New York's power grid operator announced that the state achieved new hourly wind and solar generation records.

Shipping industry faces regulatory hurdles in the race to decarbonize

Global shipping companies are feeling mounting pressure to reduce their carbon emissions. However, executives point to the complexity arising from vague regulatory frameworks, especially regarding selecting cleaner fuels for large vessels, hindering progress towards achieving net zero emissions. 

China faces infrastructure strain amid record solar and wind installations

Following a surge in solar and wind power installations last year, multiple regions across China are experiencing difficulties managing fluctuations in electricity supply linked to weather conditions. 

New study reveals 80% of sustainable bonds fail to meet global climate goals

New research from the investor-oriented nonprofit Climate Bonds Initiative (CBI) indicates that over 80% of the 768 sustainability-linked bonds issued between 2018 and November of the previous year do not conform to global climate objectives.

EU countries call for urgent revision of anti-deforestation law

According to a document examined by Reuters on Monday, a coalition of EU nations, led by Austria, is urging immediate revisions to the bloc's forthcoming anti-deforestation legislation, expressing concerns about its potential adverse effects on European farmers. 

NATO debuts as a climate tech investor 

NATO, the military alliance, has ventured into startup acceleration with its Defense Innovation Accelerator for the North Atlantic (DIANA) program, an initiative to foster technological advancements within the military alliance. 

Biden administration to invest $6 billion in industrial decarbonization projects

The US Department of Energy (DOE) announced the selection of 33 projects slated to receive funding of up to $6 billion. These initiatives aim to advance technologies that significantly reduce emissions in challenging-to-decarbonize industries, including chemicals, steel, food, refining, cement, and more.

Regulators address seabed mining challenges amidst EV battery material extraction from oceans

A marine scientist has emerged as a potential new leader for the International Seabed Authority (ISA), signalling a possible shift in the organization's approach to regulating deep-sea mining. 

Audubon Zoo teams up with Entergy & NASA for ‘Party for the Planet’

In collaboration with conservation allies such as Entergy and NASA, Audubon Zoo is set to host "Party for the Planet: Spring into Action," marking the commencement of Audubon's series of initiatives dedicated to enhancing the well-being of nature and wildlife. 

Real estate investors grapple with CO2 shock, turn to lawyers

Real estate investors, already struggling with high interest rates, are now confronting the potential for substantial losses prompted by recent European regulations.

Green jobs rise as sustainability investments grow: report

According to a 2024 Capgemini report on global investment trends, more than 52% of organizations are projected to boost their investments in sustainability within the next two years.

Invesco unveils $2.1 billion fund tackling water scarcity, attracting investor interest

On World Water Day, analyst Mahi Roy highlighted five US-based funds and several companies dedicated to enhancing water access quality and tackling various water-related challenges. 

US judge issues temporary block on $649 million clean energy transmission line

According to attorneys involved in the case, a federal judge, on Friday, temporarily blocked a land swap needed before developers can build a major clean energy transmission line through a Mississippi River wildlife refuge.

AI is a key tool in businesses reducing carbon footprint: Tim Cook

During a climate change dialogue at the China Development Forum, Tim Cook, the CEO of Apple Inc., emphasized the importance of artificial intelligence (AI) in aiding businesses to reduce their carbon footprint. 

Study links West Africa’s intense February heatwave to human-caused global heating

A scorching heatwave that hit West Africa in February has been determined by a study to have been intensified by 4 degrees Celsius and made 10 times more probable due to human-induced global heating.

Fossil fuel firms could face homicide charges for climate-related deaths

A groundbreaking legal theory is gaining traction among researchers, suggesting that fossil fuel companies, identified as the primary contributors to planet-warming emissions, could be held accountable for these climate-related deaths. 

HSBC, NatWest face allegations of funding North Sea oil extraction, contradicting their earlier pledge

Two prominent UK high street banks stand accused of continuing to finance the expansion of fossil fuels in the North Sea despite having pledged to align their operations with the net zero climate target.

Highly accurate AI model by Google to predict floods in advance 

Globally, climate change is exacerbating the frequency and severity of flooding events. However, artificial intelligence (AI) holds promise in mitigating some of these impacts by being trained to offer precise warnings, even in flood-prone areas lacking traditional water gauges.

Multilateral lender approves $85 million investment for North Macedonia CFPP transition

The Climate Investment Funds (CIF), a multilateral lender, announced on Wednesday its approval of an $85 million investment aimed at assisting North Macedonia in transitioning away from coal-fired power plants (CFPP) towards renewable energy sources. 

Chevron resolves Kern County oil spills with $13 million settlement

According to the California natural resources agency on Wednesday, Chevron has agreed to settle with two California state agencies for previous oil spills in Kern County, Bakersfield, for $13.1 million. 

US raises alarm over foreign hackers carrying out cyberattacks on water systems

In a letter made public on Tuesday, National Security Advisor Jake Sullivan and Environmental Protection Agency Administrator Michael Regan cautioned state governors about disruptive cyberattacks conducted by foreign hackers targeting water and sewage systems across the nation. 

Australia faces urgent need for investment to prevent energy shortfalls, grid operator warns

According to the grid operator, Australia, a major natural gas exporter, urgently needs investment to avert shortages in several densely populated regions starting in 2025 and to facilitate the growth of renewable energy.

Morgan Stanley’s asset management arm eyes $1 billion for energy shift investments

According to individuals familiar with the situation, Morgan Stanley's asset management division intends to secure a minimum of $1 billion for a new fund focused on energy transition investments.

The world is ‘losing the battle’ against electronic waste: UN says 

On Wednesday, a UN expert warned that the global struggle against electronic waste is faltering. This caution comes in the wake of a report revealing that a staggering 62 million metric tons of mobile phones and devices were disposed of worldwide in a single year—a figure projected to rise by a third by 2030.

Biden’s latest move on auto emissions expected to spark surge in EV sales

On Wednesday, the Biden administration implemented strict tailpipe emission limits to curb pollution from the country's cars and light trucks. These measures are so stringent that automakers will be compelled to increase sales of electric vehicles and plug-in hybrid models. 

Swiss National Bank stands firm on investment policy despite climate change pressures

The Swiss National Bank (SNB) has reiterated its stance on environmental considerations, stating that it will not alter its investment strategies because of climate change. This decision continues its resistance to calls for a more proactive approach to addressing climate change.

Stellantis and California reach an agreement on vehicle emissions 

On Tuesday, Stellantis, Chrysler's parent company, and the state of California finalized an emissions agreement. This accord comes after Stellantis attempted to join an agreement between other automakers and the state in 2019, but it was unsuccessful.

UK bank funds Greensphere’s venture into nature, climate research

On Wednesday, Greensphere Capital announced that it had secured backing from the UK Infrastructure Bank (UKIB) for its first fund, which aims to commercialize nature and climate research conducted by leading bioscience and environmental science institutes in Britain.

Only 10 countries met air quality guidelines by WHO in 2023 

A recent analysis revealed that in the past year, only 10 nations and approximately 9% of cities worldwide met the air quality standards outlined by the World Health Organization concerning harmful fine-particle pollution, known as PM2.5.

Air New Zealand explores partnership for green fuel supply to meet net-zero goals

On Wednesday, Air New Zealand invited startups operating in the sustainable aviation fuel (SAF) sector to seek potential supply partners as part of its commitment to decarbonization and achieving its net-zero carbon emission targets. 

US-China take proactive steps in methane emission reduction, says US deputy climate envoy

According to the deputy US special envoy on climate change, cooperation between the United States and China regarding methane reduction is progressing. He highlighted an opportunity for Beijing to significantly reduce emissions from its extensive coal sector at minimal or no cost. 

Ed Miliband warns of Sunak and ministers dividing over UK’s net zero goal 

In a speech, Ed Miliband, Labour shadow energy minister, warned that Sunak and other ministers are fueling division over the UK's net zero target rather than addressing the urgent climate crisis.

World’s largest solar manufacturer to slashes one-third of workforce

The largest solar manufacturer globally has decided to downsize its workforce by almost a third following an unsuccessful cost-cutting initiative, which included instructing employees to print only in black and white. This move comes as concerns grow within the renewable energy sector.

Hedge fund veteran proposes carbon footprint strategy for banks

To tackle climate change, alternative investment expert Andrew Hohns is pioneering a strategy to help banks slash their carbon footprint. Formerly of Mariner Investment Group and leading Newmarket Capital, Hohns is actively engaging with multiple banks to introduce this innovative approach.

Germany & Canada agree to kickstart trade of hydrogen 

Canada and Germany have agreed on steps to promote the trade of hydrogen, a cleaner alternative to fossil fuels. Both countries will contribute €200 million ($217 million) to bilateral hydrogen auctions. 

Britain’s National Grid proposes $74 billion energy system upgrade 

Britain's National Grid has proposed a £58 billion ($74 billion) investment plan to enhance grid networks beyond 2030, anticipating the growth in electricity demand and the rise of renewable energy projects. 

China falls short of reaching 2025 green steel goals

Researchers, on Tuesday, said that China is not meeting expectations in reducing the carbon footprint of its vast steel industry. They attributed this shortfall to declining demand, inadequate recycling rates, and persistent worries about excess production capacity, all of which impede the shift towards cleaner production methods. 

Transition finance key to achieving Southeast Asia’s net-zero goals, says experts 

Experts suggest that Southeast Asia has the potential to lead the global push towards achieving net-zero emissions, contingent upon the region's ability to secure over US$50 billion in capital for funding the green transition. 

Building Information Modelling tech to develop sustainable projects in real estate 

Building Information Modelling (BIM) is emerging as a highly influential initiative for creating sustainable real estate projects. BIM involves designing projects based on models incorporating physical and functional aspects, aiming for environmental sustainability. 

Britain’s home heating emission goals stalled by lack of heat pump uptake: report

Most of Britain's homes use gas for heating, contributing about 18% of the country's total greenhouse gas emissions. The government aims to reduce these emissions by replacing gas boilers with electric heat pumps. 

US appeals court temporarily halts SEC climate disclosure rules

On Friday, a US appeals court temporarily halted the implementation of new Securities and Exchange Commission (SEC) rules mandating public companies to disclose climate-related risks. 

Exxon CEO takes aggressive climate stance amid industry boom

Darren Woods, the CEO of Exxon Mobil Corp., is fighting back after facing criticism from both environmentalists and investors during his seven years in charge. 

Top oil executives & ministers arrive at the world’s largest energy conference in Houston 

This week, oil industry leaders and government officials gather in Houston for a significant energy conference, encouraged by major mergers, stable oil prices, and less pressure to switch to cleaner energy.

US to invest in $750 million to reduce costs of clean hydrogen 

The US Department of Energy (DOE) declared its intention to allocate $750 million towards a series of projects with the objective of substantially reducing the cost of clean hydrogen. These initiatives will support advancements in electrolysis technologies and enhance manufacturing and recycling capabilities for clean hydrogen systems and components. 

CIWM launches new fund for circular economy businesses

The Chartered Institution of Wastes Management (CIWM) has introduced a new fund to assist circular economy businesses in their growth by providing "fully-funded brand communications, marketing, and design support".

Google joins US DOE with $35 million carbon removal credit pledge

Google unveiled a new pledge to secure a minimum of $35 million worth of carbon removal credits within 12 months. This commitment is aligned with an initiative led by the US Department of Energy (DOE), which seeks to bolster the carbon removal sector by supporting its innovations and technologies.

Solar battery sales jump 26% in German households in 2024 

On Thursday, the industry association BVES announced that sales of home solar electricity storage batteries in Germany could increase by 26% this year, driven by a growing number of households choosing affordable and renewable energy sources. 

Antarctic scientists raise alarm on bird flu following confirmed cases in penguins

Antarctic scientists are issuing warnings about the transmission of a highly contagious H5N1 avian flu virus, initially identified on the continent's mainland last month and has since been found in local penguin and cormorant populations. 

US Chamber of Commerce files lawsuit against SEC over climate risk disclosure rules

On Thursday, the US Chamber of Commerce announced that it has initiated legal action against the US Securities and Exchange Commission's recently implemented regulations mandating public companies to disclose climate-related risks. 

Shell revises 2030 carbon emissions reduction target 

Shell announced on Thursday that it had revised its target to reduce the intensity of its overall carbon emissions by 2030, attributing this adjustment to anticipated decreases in power sales. 

Germany’s emissions goal demands sixfold surge in EV sales: study 

According to a study, Germany must experience a significant turnaround in the momentum of electric vehicle (EV) sales if it hopes to meet its emissions targets.

Banking climate coalition to report on capital markets related emissions

On Wednesday, a climate coalition supported by the United Nations and focused on banking released revised guidelines for its members. 

Texas fires release record carbon dioxide in January, February 

In January and February, extensive wildfires in Texas emitted 920,000 metric tons of carbon dioxide, marking the second-highest release for that period ever on record.

Apple suppliers to join its green investment fund

Taiwan Semiconductor Manufacturing Co. (TSMC) and Murata Manufacturing Co., suppliers to Apple Inc., are joining the iPhone maker’s green investment fund, bringing the total committed capital to $280 million.

US climate envoy urges Japan to accelerate renewables, offshore technology 

During his visit to Japan, John Podesta, the top US climate envoy, stressed the importance of speeding up the use of renewable energy, especially offshore wind technologies.

African nations block solar geoengineering proposal at UN Environmental Assembly

Last week, during the UN Environmental Assembly in Nairobi, African countries spearheaded a successful resistance against a proposed resolution by Switzerland. 

Waste-to-energy technology raises environmental concerns 

Waste-to-energy technology, a waste disposal method by incinerating materials like paper, plastic and wood, has created concerns among environmental groups method as a ‘quick fix’ to discard waste. 

Global investment firm appoints specialized team to identify climate transition opportunities 

Permira, a global investment firm, has established a dedicated team to identify investment opportunities in the climate transition sector. 

EU Parliament passes law to make buildings energy-efficient 

On Tuesday, the European Parliament passed new legislation mandating member states to accelerate building renovations to enhance energy efficiency and lower the EU's carbon emissions. 

Mango to choose adaptable clothing as climate change makes fashion less seasonal 

Mango, the Spanish retailer, is focusing on adaptable clothing to assist customers in coping with unpredictable temperature fluctuations due to climate change, according to Chief Executive Toni Ruiz in an interview with Reuters. 

US power consumption to reach record highs in 2024 and 2025: EIA

According to the US Energy Information Administration's Short-Term Energy Outlook released on Tuesday, power consumption in the United States is set to reach unprecedented levels in 2024 and 2025. 

Blended finance key for India’s $1 trillion climate targets

India requires approximately $1 trillion by 2030 to fulfill its climate change adaptation objectives. To mobilize private investments, India will need to pursue blended finance.

Climate fund investors, Microsoft pour $18 million into Konexa to launch Nigeria’s first renewable energy platform

Konexa, a UK-based integrated energy development and investment platform, has finalized financial arrangements and invested $18 million. 

Alberta’s ban on renewables could halt $8.24 billion funding: study 

According to a study released on Monday, Alberta's prohibition on select renewable projects could jeopardize investments worth C$11.1 billion ($8.24 billion) and impede the development of up to 6.3 gigawatts (GW) of solar and wind power capacity. 

Morocco allocates 1 million hectors to green hydrogen projects

On Monday, the Moroccan government announced its intention to allocate 1 million hectares to green hydrogen projects, with an initial phase starting at 300,000 hectares, to attract investors. 

Canada & US to review cross-border dispute over coal mine pollution

As announced on Monday, Canada and the United States have jointly agreed to assess a longstanding cross-border conflict concerning the contamination of coal mines in the Canadian province of British Columbia into US waters. 

Japan approves installation of offshore wind power in exclusive economic zones 

On Tuesday, Japan's government greenlit a proposed amendment to current laws, enabling the establishment of offshore wind power within exclusive economic zones (EEZ). 

EVs cannot fix ‘car harm’, study says 

While electric vehicles (EVs) promise cleaner air and reduced climate pollution, a recent analysis suggests that even a complete global transition to EVs would not mitigate all the detrimental impacts associated with cars and auto infrastructure.

Blended-wing aircraft pushes aviation towards net zero goals

In the history of aviation design, the landscape remained unchanged for a century, characterized by conventional tube-and-wing aircraft. Yet, amidst this conformity, 'flying wings' like the Northrop YB-49 and Northrop Grumman B-2 Spirit emerged, captivating enthusiasts with their sleek, futuristic profiles.

AI could fuel climate misinformation, not solutions, warn environmental groups

A coalition of environmental groups has cautioned against the notion that artificial intelligence will alleviate the climate crisis, warning that instead, it could contribute to increased energy consumption and accelerate the dissemination of climate misinformation. 

Europe not ready for accelerating climate risks, report says

The European Environment Agency (EEA) has issued its first risk assessment, indicating that Europe is not well-prepared for the quickly increasing climate dangers it faces.

Deforestation in Brazil’s Amazon rainforest fell 30% in February 

Government data released on Friday revealed a 30% decrease in deforestation across Brazil's Amazon rainforest in February compared to the previous year. 

Texas pushes back against EPA’s new methane rule

In a move against federal regulations, Texas, the largest energy-producing state in the nation, lodged a complaint urging a court to halt a recent rule introduced by the US Environmental Protection Agency to curb methane emissions from the oil and gas sector. 

Extreme heat causes mass coral bleaching of Great Barrier Reef, fifth one in eight years 

A government agency reports that a mass coral bleaching event has impacted Australia's Great Barrier Reef. The event was likely triggered by heat stress accumulated during the summer. 

US Treasury steps away from collecting insurer data on climate risks

The US government is shifting away from collecting data on home insurance prices and availability at the zip code level as premiums rise and climate risks to property increase. Instead, it will cooperate with state insurance regulators.

Rondo Energy partners with battery startup to cut Europe’s energy crisis

A fresh collaboration between a multinational energy corporation and a battery startup utilizing heated bricks could alleviate Europe's energy crisis and reduce carbon emissions.

Unilever announces new climate goals despite ESG concerns

Unilever Plc is setting more ambitious goals to reduce emissions, targeting suppliers and stores that sell its brands, despite investor concerns that non-financial goals divert the company's focus. 

Bengaluru’s acute water shortage hurts international firms

Bengaluru's severe water scarcity is impeding production at its garment factories, doubling restaurant water expenses, and compelling managers at certain global companies to address unconventional employee requests. 

Green groups slam SEC over exclusion of Scope 3 emissions in climate disclosure rule

The US Securities and Exchange Commission approved new climate disclosure requirements for public companies, part of the Biden administration's climate policy. 

Ocean temperatures hit a record high in February

In February, ocean temperatures reached an unprecedented peak, according to the European Union's Copernicus Climate Change Service (C3S). 

Tesla cuts ties with Australian auto lobby over fuel standards dispute

On Thursday, Tesla announced its decision to withdraw from Australia's major auto lobby and resign from its board, alleging that the organization had misled consumers regarding the government's proposed fuel efficiency standards and their potential influence on car prices.

GE’s energy spin-off expects offshore wind boost

During an investor day in New York, executives of General Electric's energy spin-off, GE Vernova, announced on Wednesday their anticipation of resolving a substantial backlog in offshore wind equipment, totalling approximately $4 billion, within the next two years. 

Republicans, industry groups file lawsuit against EPA over soot pollution rules

On Wednesday, a coalition of Republican-led states and industry groups filed three lawsuits contesting a recent US Environmental Protection Agency regulation strengthening air quality guidelines for soot pollution. 

US SEC adopts climate-related risk disclosure rules 

A West Virginia Attorney General's Office spokesperson announced on Wednesday that ten states led by Republicans have initiated legal action to contest new federal regulations mandating US-listed companies to disclose climate-related risks. 

US solar industry to benefit from Inflation Reduction Act this year

In 2024, the US solar industry is projected to maintain its growth, following its significant contribution of over 50% of new electricity capacity added to the grid last year. 

Apple pulls the plug on its EV building project 

According to reports, Apple has canceled its electric vehicle (EV) project, a decade after rumors first emerged about the iPhone maker's involvement in it. 

Brazil’s energy industry pushes for new hydroelectric plants despite climate concerns 

Brazil's energy sector is initiating a new effort to construct additional hydroelectric plants alongside the rising number of solar and wind power initiatives. However, past environmental issues could present political challenges. 

EU wins WTO battle over palm oil biodiesel

On Tuesday, the European Union succeeded at the World Trade Organization when a panel dismissed Malaysia's complaint against the EU's decision to exclude palm oil biodiesel from being considered a renewable biofuel. 

Singapore’s biggest bank grows sustainable financing to $52 billion in 2023

Singapore's largest bank, DBS Group, announced on Wednesday that it had increased its sustainable financing commitments by 37.3% to 70 billion Singapore dollars ($52.10 billion) as of the end of December, up from S$51 billion in 2022. 

US refiner joins Summit’s carbon capture project 

On Monday, Summit Carbon Solutions, an Iowa-based private company, announced that US refiner Valero Energy Corp would participate in its proposed carbon capture and storage project. 

Indian companies eye major investments in coal-fired power

Private Indian companies have shown interest in constructing at least 10 gigawatts (GW) of coal-fired power capacity over the next ten years, according to four sources familiar with the matter. 

Africa set to fall $2.5 trillion short of climate finance by 2030: UN

A UN official stated that Africa will lack $2.5 trillion in climate finance by 2030 despite contributing the least to greenhouse gas emissions and facing severe impacts. 

France aims to curb fast fashion’s environmental impact with penalties

French ruling-majority MPs propose a new bill suggesting penalties of up to 50% of the selling price for fast fashion brands like Shein. 

Climate tech firm trials fast-paying flood insurance in Africa 

Floodbase, a New York-based climate tech firm specializing in satellite flood tracking, announced plans to roll out parametric flood insurance for small farmers in Malawi and Mozambique, Africa, before the upcoming rainy season. 

Green bond sales hit record $54.7 billion in February, marks busiest month ever 

Green bonds, the largest type of sustainable debt, experienced their busiest February ever amidst a surge of global debt offerings.

EV boom will boost US lithium imports from Chile, says Yellen; eyes green transition

Janet Yellen, the US Treasury Secretary, expects that the growing demand for lithium, a crucial element in electric vehicle batteries, will significantly increase US imports from Chile in the coming years. 

MAN Energy Solutions to deliver first-ever ammonia-fuelled ship engine

MAN Energy Solutions intends to supply its inaugural ammonia-fueled engine for installation on a new vessel in Japan later this year, with plans to offer ammonia-powered machines to clients after 2027, as stated by its CEO Uwe Lauber. Ammonia is one of the alternative fuels shippers consider to decrease emissions. 

One-fifth of Mekong river fish species near extinction: report 

Unsustainable development threatens the health and biodiversity of the Mekong River, says a report from conservation groups revealing that one-fifth of the fish species in Southeast Asia's primary waterway are at risk of extinction. 

Invesco becomes the fifth major asset manager to exit climate investor group

On Friday, Invesco became the fifth prominent US investor to withdraw or reduce its participation in the Climate Action 100+ coalition of investors, advocating for significant polluting companies to decrease carbon emissions. 

California faces dangerous wind gusts, while Texas wildfires still keep burning

California and the US West still confront dangerous wind gusts and heavy snow until the week's start. Additionally, high winds increase fire dangers in the central US, notably in Texas, where the largest fire remains partially contained. 

Regulatory hurdles & greenwashing deter clients from $1.5 trillion ESG debt market

As highlighted by insiders, corporate clients are increasingly withdrawing from the world's second-largest ESG debt market due to added regulations, reduced incentives, and fears of greenwashing. 

Spanish bank to invest $54 million in solar energy venture in Spain, Italy

Spanish investment bank Banca March and its clients will invest €50 million ($54 million) in a clean energy initiative to construct 1.8 GW solar and solar-plus-storage plants in Spain and Italy. 

UK ministers accused of shifting aid funds to meet climate finance goals

Ministers face allegations of "moving the goalposts" to fulfill the UK’s global climate promises, as £1.7bn from the aid budget is redirected to environmental aid for poorer nations. 

Texas wildfire engulfs record 1.1 million acres, marks state’s largest blaze ever

A colossal fire rages across the Texas Panhandle and parts of Oklahoma, engulfing nearly 1.1 million acres (equivalent to 1,700 square miles) and becoming the largest fire in Texas history. 

BBVA to launch new global finance unit for clean technologies

BBVA of Spain will establish a new global finance unit focusing on clean technologies and innovation to grow its sustainable business, announced Chairman Carlos Torres on Thursday.

Cutting emissions is “essentially” the responsibility of G20 nations: UN Secretary-General

UN Secretary-General Antonio Guterres stated that cutting emissions is "essentially" the duty of G20 nations, the biggest polluters. He urged more challenging targets and fairer financing for countries most affected by climate change. 

Biden EPA trims power-plant rule, eyes future gas fleet restrictions

The Biden administration is refining its plan to reduce greenhouse gases from electricity and will set stricter pollution limits for natural gas plants. 

US SEC to vote on climate disclosure rules

The US Securities and Exchange Commission (SEC) will decide whether to implement rules mandating that US-listed firms disclose climate-related risks, the agency said in a notice on Wednesday. 

Global waste production to skyrocket by 2050: UN report 

By 2050, waste generated by the public will increase substantially, leading to hundreds of billions of dollars in damage due to biodiversity loss, climate change, and harmful pollution, according to a United Nations Environment Programme (UNEP) report released on Wednesday.

UK’s helium-filled aircraft begins safety approval process 

Britain's Hybrid Air Vehicles (HAV), a company working to enable travel on a large helium-filled aircraft by the end of the decade, announced Thursday that it had initiated the safety approval process with the UK regulator. 

New Zealand to review forestry costs in emissions trading scheme

The New Zealand government announced it will start an independent review of the expenses related to the forestry part of the country's Emissions Trading Scheme. 

EU’s corporate supply chain law stalls; faces backlash from member states

A law in the European Union aimed at improving corporate supply chains has been stopped by the largest member states, pushing negotiators to reassess the legislation. The Corporate Sustainability Due Diligence Directive (CSDDD) would make companies legally responsible for addressing environmental or human rights violations in their value chains. 

TotalEnergies and Chevron join methane abatement initiative for maritime sector

Energy giants TotalEnergies and Chevron, alongside major gas carrier Seapeak, have joined the Methane Abatement in Maritime Innovation Initiative (MAMII), led by SafetyTech Accelerator. The move, announced on Tuesday, highlights the initiative's growing importance in addressing methane emissions in the maritime sector.

EU eases gas consumption rules as energy crisis shows improvement

The European Commission urges EU nations to continue reducing gas usage but has made the policy voluntary, showing optimism that the worst of Europe's energy crisis has passed. 

Univers and Citi partner to enable seamless purchase of voluntary carbon credits

Univers, a prominent player in decarbonization technology, and Citi have joined forces to introduce an innovative software solution facilitating the seamless purchase of Voluntary Carbon Credits (VCCs) by organizations. 

Glencore to buy Shell’s Singapore assets as earlier suitors back out

Glencore, a Swiss miner and commodities trader, is considering purchasing Shell's oil refinery and petrochemical units in Singapore. 

Europe’s heat pump sales fall for the first time in 10 years, green policies among contributing factors 

Heat pump sales in Europe dropped last year, marking the first decline in ten years. Falling natural gas prices, higher interest rates, and political opposition to green policies influenced this decrease.

Boeing-backed startup to build carbon capture plant in Singapore

Boeing-backed startup Equatic is constructing a demonstration plant in Singapore to extract carbon dioxide from the air and generate hydrogen, the company announced on Tuesday. 

US EPA to launch cleanup projects at hazardous waste sites with $1 billion funds 

On Tuesday, the US environmental regulator announced new cleanup initiatives at 25 hazardous waste sites spanning from New Jersey to Oregon, backed by $1 billion in funds. 

EU inches closer to 2030 wind power goal: report 

The European Union is on track to achieve its wind power goal for 2030, thanks to increased investment and better-permitting processes, according to a report from an industry association released on Tuesday. 

Brazil partners with largest climate finance alliance to fund green projects 

Brazil, on Monday, revealed its collaboration with the world's largest financial climate coalition to enhance funding for clean energy and nature restoration initiatives, including the reforestation of the Amazon rainforest. 

Germany proposes draft law to enable carbon capture and storage

Germany's economy and climate ministry have unveiled proposals for legal changes to facilitate the deployment of carbon capture and storage or use (CCS/CCU), along with the transportation and offshore storage of carbon within the country. 

EU import charges on carbon-intensive products expected to have limited impact: ADB

According to research by the Asian Development Bank (ADB), the European Union's (EU) Carbon Border Adjustment Mechanism (CBAM) is projected to have only a modest negative effect on economies in Asia and the Pacific while offering limited benefits in curbing climate change. 

IMF advises Pacific Islands to explore debt-for-nature deals

Pacific Islands facing the most sea-level threats should explore debt-for-nature agreements due to unsustainable traditional loans, suggested a senior IMF official on Tuesday. 

Activists push back against EU’s decision to exclude banks from critical deforestation rule

Climate activists urge the European Union to rethink its choice to leave banks out of a crucial deforestation rule, aiming to avoid an official review next year. 

Italy approves $6.8 billion package for tech and green transition

Prime Minister Giorgia Meloni's government has given the green light to a €6.3 billion ($6.8 billion) package to support Italian industries' technological advancement and green transition.

Regulators rush to seal Biden’s climate plans before summer deadline

US federal regulators are rushing to finalize climate initiatives proposed by the Biden administration. These initiatives cover many areas, from the types of vehicles people drive to the appliances they use every day and larger aspects like power plant regulations. 

PM Rishi Sunak faces criticism for attending anti-climate change farmer protests

As revealed by the Observer, UK Prime Minister Rishi Sunak attended a protest with a group known for spreading climate change conspiracy theories and opposing net zero efforts. Farmers and wildlife groups criticized him for “pandering to extremists”, urging him to prioritize reason over conspiracy theories. 

Stellantis will stick to EU’s 2035 ban on fossil fuel cars

In an interview with German media outlet Welt, Stellantis CEO Carlos Tavares stated that the company aims to support the European Union's plan to stop selling new petrol and diesel cars by 2035. 

Canada’s 2030 emissions goal at risk as businesses hesitate on low-carbon projects: report

A new report warns that Canada is struggling to meet its 2030 emissions target because businesses are holding off on low-carbon projects due to uncertainty about the country's climate policies. 

Vietnam’s VinFast starts EV facility in India’s Tamil Nadu 

VinFast Auto Ltd., a Vietnamese car manufacturer, began building its electric vehicle (EV) factory in Tamil Nadu, southern India. The facility will cover 400 acres within the estate managed by the State Industries Promotion Corporation of Tamil Nadu. 

EU’s carbon tariffs risk straining Asian economies, offer minimal effect on emissions: ADB report

The Asian Development Bank (ADB) reported that the European Union's plan to impose tariffs on high-carbon imports might harm developing Asian countries. However, it's unlikely to reduce greenhouse gas emissions significantly.

Google’s new AI technique hunt for clean electricity to combat carbon footprint

Big tech companies are rushing to reduce the environmental impact of their vast data centres worldwide. They're starting to use an AI method developed by Google that finds places with ample solar and wind power in the electricity grid.  Then, they run their data centers there to reduce pollution and save money. 

Thermal battery maker raises $150 million investment led by BlackRock & Temasek

On Thursday, Antora Energy, a thermal battery manufacturer, announced that it has secured $150 million in funding. 

France’s Engie takes $774 million blow on US onshore wind turbines & energy price dip 

On Thursday, France's Engie announced a 714 million euro ($774 million) impairment charge for last year due to issues with onshore wind turbines in the United States and a decline in long-term energy prices in the country. 

World’s biggest climate investor group seeks to strengthen support post shock-exits of firms

The largest climate investor group, Climate 100+ (CA100+), reassured its members that its methods comply with US antitrust and securities laws, per Reuters' letters on Thursday. 

Braya completes conversion of refinery, starts renewable diesel production

On Thursday, Braya Renewable Fuels started producing renewable diesel at Canada's Come-by-Chance refinery post its transition.

US regulatory body omits certain emissions disclosure mandates from climate draft

The US Securities and Exchange Commission (SEC) has decided to remove some of the ambitious greenhouse gas emission disclosure rules from its corporate climate risk regulations. 

Climate change raises concerns of more deadly wildfires in Chile: report 

A recent report suggests that deadly wildfires, similar to the ones in central Chile that claimed at least 133 lives this month, could become more common in the country due to climate change, making the world hotter and drier. 

Carbon footprint concerns shake real estate market, investors slash exposure

Real estate firms are seeing a significant drop in property values because European rules push investors and bankers to avoid buildings with high carbon emissions. 

SQM Lithium Ventures invests $9.4 million in EV battery recycling firm 

SQM Lithium Ventures has put $9.4 million into Altilium, a British electric vehicle battery recycling company, to help it grow. 

India’s Bengaluru faces acute water shortage

India’s tech city, Bengaluru, is experiencing severe water scarcity even before the peak summer months. Residents are rationing water and paying nearly twice the regular price due to the shortage. 

Fixing onshore wind power business could take years, but possible: Siemens Energy CEO

Siemens Energy is confident it can address quality problems in its onshore wind division. Still, it might take several years, according to the CEO's written statements released before the company's annual general meeting.

US battery sales surge after California slashed rooftop subsidies  

Solar and battery storage firm Sunrun Inc. is experiencing a rise in battery sales in the US, notably in California, the country's largest solar market. This surge follows California's reduction of rooftop subsidies, aimed at promoting backup power as the sun sets.

Brazil to roll out measures to help with foreign exchange hedges for green investments

Brazil's government plans to introduce new measures next Monday to assist foreigners with foreign exchange hedges for their investments in sustainable development. The goal is to avoid currency and fiscal risks for the Treasury. 

Britain to miss its decarbonisation targets for 2030, DNV predicts

Britain is expected to fall short of its goals to cut carbon emissions by 2030 and achieve net zero emissions by the middle of the century, according to a report by Norwegian risk manager DNV. 

China’s 2023 rise in coal approvals puts climate goals at risk 

In 2023, China waved the green flag for an additional 114 gigawatts (GW) of coal power capacity, marking a 10% increase from the previous year. 

Britain withdraws from Energy Charter Treaty over failure to align with net zero goals

Britain announced on Thursday its decision to join other European nations in exiting the International Energy Charter Treaty. 

Solar panel installations at home decline for the first time since 2018 in Spain 

Last year, fewer Spaniards installed solar panels on their homes, marking the first decrease since 2018 as subsidies lost their impact. 

Brazil’s state run oil firm to invest $1.5 billion in decarbonization tech

Petrobras and its partners plan to invest about $1.5 billion to introduce decarbonization technology in one of their oilfields, according to the firm's CEO Jean Paul Prates. 

Germany allocates up to $3.8 billion for future green hydrogen imports

According to the economy ministry, Germany plans to allocate up to 3.53 billion euros ($3.8 billion) in public funds for acquiring green hydrogen and its derivatives from 2027 to 2036. 

Rio Tinto signs renewable power purchase agreement for Gladstone operations

Mining giant Rio Tinto Ltd has partnered with renewable energy company Windlab to purchase a majority of the electricity from its upcoming 1.4-gigawatt wind energy project in Queensland. 

IEA’s reports influenced by governments’ low carbon targets, says ex-White House official

The International Energy Agency (IEA) in Paris releases an annual report that significantly influences government policies and billions of dollars in energy investments. An energy expert claims that the IEA's predictions have become affected by the climate objectives of its member countries.

Campaign groups accuse UK’s climate strategy of misleading information

Three environmental groups have told London's High Court that Britain's new climate action plan is unlawful because ministers received incorrect information about meeting emissions targets. 

Protest at PM Sunak’s residence lands climate activists with criminal charges

Three Greenpeace activists will face charges for climbing onto Prime Minister Rishi Sunak's home in protest against the government's plan to grant numerous North Sea oil and gas extraction licenses. 

Indonesia’s revised green investment regulations to include coal power plants

On Tuesday, Indonesia introduced an updated ‘taxonomy’ or green investment guideline. It now includes coal-fired power plants used in nickel facilities, aiming to promote a shift towards a green economy. 

IMF reaches agreement with Ivory Coast for $1.3 billion sustainability facility

On Friday, the International Monetary Fund (IMF) announced that it had reached a staff-level agreement with Ivory Coast for a $1.3 billion program to combat climate change. This initiative is backed by the IMF's Resilience and Sustainability Facility. 

US to ease emission targets in climate push; slows EV transition plans 

According to Reuters sources, the Biden administration plans to ease yearly requirements until 2030 in its ambitious effort to reduce tailpipe emissions and boost electric vehicle (EV) sales. 

Toyota faces scrutiny for cheating engine emissions tests

Japan's transport ministry is preparing to act against a Toyota Motor Corp affiliate for cheating engine emissions tests. This could involve withdrawing certification for specific engine types, as reported by Nikkei on Monday. 

Asia pioneers in sustainable aviation fuel projects

Sustainable Aviation Fuel (SAF) are alternative fuels made from renewable sources for airplanes, which is essential for the aviation sector to achieve its goal of net zero emissions by 2050. However, its use is still in the early stages.

Wall Street gives seal of approval to the Big Shale era 

The recent $26 billion merger of two Texas oil companies marks the latest in a series of deals propelling the era of Big Shale. Wall Street, previously skeptical of the sector for most of the last decade, now seems fully invested.

Activists barge into Canada finance minister’s office, insist climate laws for banks

Climate activists storm into Canadian Finance Minister Chrystia Freeland's Toronto office, urging the government to include bank climate regulations in its 2024 budget. 

ESG takes backseat, sees slowdown in sales of new exchange-traded funds

Interest in sustainable investing has dwindled over the past year due to political controversies surrounding environmental, social, and governance (ESG) strategies. 

High-resolution satellite maps reveal coral reefs larger than New Mexico

A new comprehensive high-resolution assessment of the world's corals reveals that the total area covered by coral reefs is more extensive than previously believed. 

Solar use soars by 30% on US farms in five years; wind power slows

According to the latest US Census of Agriculture, solar power is gaining popularity on American farms, with a 30% increase in photovoltaic installations. 

Global leaders celebrate 50 years of IEA, discuss green future 

Energy ministers, oil executives and green investors gathered this week to celebrate 50 years since the formation of the International Energy Agency to strengthen clean transitions and accelerate a green future. 

JPMorgan, BlackRock backs out of biggest climate-investor group

JPMorgan Asset Management and State Street Global Advisors announced on Thursday that they are pulling out of Climate Action 100+. 

India’s Bharat Petroleum to set up first-ever green hydrogen plant in an airport

Indian refiner Bharat Petroleum Corp Ltd (BPCL) announced on Wednesday its plan to establish the first green hydrogen plant within an airport in the country. 

US Treasury: Dealers reimbursed $135 million in EV tax credits

The US government has refunded auto dealers approximately $135 million in advance electric vehicle (EV) tax credit payments from the beginning of the year until Feb. 6, per the Treasury's announcement on Wednesday. 

Global warming, drought & other disruptions could collapse Amazon forest sooner: study 

Scientists warned on Wednesday, in a study, that a combination of drought, heat, and other factors, including climate change, could collapse South America's Amazon rainforest system. They revealed that nearly half of the Amazon could reach a tipping point by 2050.

Canada rebrands carbon tax, highlights rebates

The Canadian government, aiming to protect its crucial carbon tax from opposition criticism, introduced a new branding strategy. 

Investors grapple with the Scope 3 emissions in climate finance

As asset managers initially pledged to align their portfolios with net-zero emissions, they largely sidestepped the critical issue of Scope 3 emissions. 

Google to help track methane polluters from space 

Tech giant Google will partner with the Environmental Defense Fund (EDF) to track methane emissions using the MethaneSAT satellite scheduled to take off into orbit on a SpaceX rocket next month. 

Carbon capture is not a solution for energy transition, says Fortescue Metals chairman

Andrew Forrest, the executive chairman of Fortescue Metals, stated at the 50th anniversary meeting of the International Energy Agency that carbon capture is not a solution for the energy transition. 

Europe may need more private funds to achieve net zero goals

The EU may need to push more private funds into sustainable investments to achieve its net zero economy targets, as revealed in an EU discussion document on Tuesday. 

California agency rejects Stellantis bid to void 2019 state emissions deal

A California agency turned down Stellantis' attempt to cancel a 2019 emissions deal with rival automakers. 

French minister says public funds for climate efforts have exhausted; urges private sector to step in 

On Tuesday, French Finance Minister Bruno Le Maire emphasized that combating climate change now relies on private sector funding, as public financing from France and other European Union nations has depleted. 

EU plans diplomatic push for global carbon trading

According to the European Union’s (EU) climate policy chief, the bloc plans to help non-member countries start carbon markets to promote global trading of CO2 emissions. 

Trump could roll back anti-coal diplomacy despite continued green energy push, Kerry says

At the International Energy Agency meeting, US Special Presidential Envoy for Climate John Kerry mentioned that if Donald Trump is re-elected, he may not halt the progress of renewable energy but could backtrack on efforts against coal diplomacy.

Three COP summit hosts come together to accelerate climate ambitions

The United Arab Emirates, which hosted COP28 last year, along with Azerbaijan and Brazil, hosts of the upcoming UN climate summits, announced on Tuesday their collaboration to advocate for more ambitious emissions reduction targets. 

Higher production boosts Coal India’s third-quarter profits beyond estimates

Coal India reported a higher-than-expected third-quarter profit on Monday as the state-run miner increased production to meet rising electricity demand in the country. The company also declared a second interim dividend. 

California’s atmospheric rivers boost hydropower supplies

The recent atmospheric rivers in California will help its hydropower systems by replenishing reservoirs and increasing snowpack levels. 

20% of world’s migratory species in danger of extinction: UN report

The United Nations' first-ever report on migrating animals, released on Monday, reveals that one in five of the world's migrating species face extinction due to climate change and human activities. 

LSEG report record $949 billion in global carbon market value last year 

In 2023, global carbon dioxide (CO2) permit markets hit a record value of 881 billion euros ($948.75 billion), marking a 2% increase from the previous year, as reported by LSEG analysts on Monday. 

Atlantic Ocean’s circulation reaching a tipping point that’s ‘bad news’ for climate & people: study

According to a study published in Advanced Sciences, the Atlantic Ocean's circulation, an enormous system of currents, is getting close to a tipping point and is “bad news for the climate system and humanity.” 

EU passes truck emissions law despite German resistance

European Union countries voted to pass a law aiming to reduce truck emissions after Germany's late demands almost derailed it. 

Tensions rise in California’s Morro Bay as conservation and clean energy collide 

President Joe Biden's key goals - conservation and transitioning to clean energy - clash in the ocean along California's serene Central Coast. 

Brazil’s 2024 electric bills to reflect larger renewable energy subsidy: regulator

By 2024, Brazil's renewable energy subsidies will exceed those for fossil fuel bills at thermoelectric plants, possibly raising taxpayers' electricity costs, reports Aneel, the electricity industry regulator. 

Rio Tinto draws criticism for water management in Australian mines

Mining giant Rio Tinto, who faced criticism for damaging an ancient indigenous site in 2020, faces investor scrutiny again, this time for its water management at two mines. 

US Government to fund methane reduction projects 

On Friday, the US Environmental Protection Agency (EPA) and the Department of Energy (DOE) released a notice of intent to fund projects that aim to decrease methane emissions from the oil and gas industries. 

Barclays to stop financing oil & gas industry 

Barclays, Britain's largest lender to the oil and gas sector, told Reuters that it would stop directly financing new oil and gas fields and limit lending to energy companies expanding fossil fuel production. 

HSBC to partner with Google to finance climate tech firms 

HSBC, the largest bank in Britain, has teamed up with Google to fund rapidly expanding climate technology companies that offer promising solutions to global climate change. 

Carbon credit market projected to surpass $343.6 billion by 2032: study 

According to a research study by Global Market Insights Inc., the carbon credit market is expected to hit $343.6 billion by 2032. 

Solar firm scraps plan to build major US silicon wafer factory 

CubicPV, a solar energy equipment maker, cancelled its plan to construct a large silicon wafer factory in the US due to falling product prices and high construction expenses. 

Top rival miners team up for ‘green steel’ making in Australia

The world's leading mining companies, BHP Group Ltd. and Rio Tinto Group, along with Australia's BlueScope Steel Ltd., are coming together to develop Australia's first electric-smelting furnace, potentially cutting emissions in steel production. 

Dutch healthcare pension fund divests from fossil fuels over climate concerns

The Dutch healthcare workers' pension fund PFZW announced on Thursday that it had sold nearly all its investments in fossil fuel companies, including major players like Shell, BP, and TotalEnergies, due to their lack of a credible climate strategy. 

Palm oil supplier for Nestle, Kellogg’s linked to Peru deforestation: Investigative Report

An environmental group's investigative report, released on Wednesday, reveals that a supplier to brands like Nestle, Kellogg's, and Colgate has been cultivating palm oil on land that was once part of the well-preserved areas of Peru's Amazon rainforest. 

Britain’s Labour Party to back out of its $35 billion green pledge 

According to sources reported by the BBC on Wednesday, Britain's opposition Labour Party is withdrawing its £28 billion ($35.34 billion) commitment to invest in green energy. 

EU truck emission goals in jeopardy as German coalition clashes

Disagreements within Germany's three-way coalition may hinder EU plans to reduce truck emissions. The pro-business Free Democrats (FDP) raised unexpected objections, causing the German government to struggle to reach a consensus on the EU proposals, as told by government representatives to Reuters.

January was the world’s hottest month ever recorded: EU scientists 

The European Union's Copernicus Climate Change Service (C3S) reported that this January was the hottest on record, continuing a trend of extreme heat driven by climate change. 

Surge in fossil fuels challenges banks’ path to net zero

For investors who are trying to understand how well banks are sticking to their promises to reach net-zero emissions, changes in climate predictions caused by evolving situations could make it even harder to figure out what's going on.

Environmental Agency to review complaint on emissions from Pemex refinery

On Tuesday, the Commission for Environmental Cooperation (CEC), responsible for environmental matters in the US, Mexico, and Canada, announced that it would assess a complaint regarding emissions from Pemex's Cadereyta refinery near Monterrey. 

Siemens Energy hits $1.7 billion net profit in Q1, prioritizes offshore wind quality concerns

Siemens Energy reported a net profit of 1.58 billion euros ($1.7 billion) in the first quarter, attributing it to a one-time gain from selling an Indian subsidiary to its former parent, Siemens AG.

Industrial gases firm says US green subsidies won’t affect ongoing projects 

Linde CEO Sanjiv Lamba told Reuters, during a post-earnings call, on Tuesday that the recent changes to Inflation Reduction Act (IRA) subsidies for clean energy projects will not impact the company's ongoing projects in the United States.

BP will explore potential partnerships for solar business: CEO

Oil giant BP is considering getting other companies involved with Lightsource BP, a solar development company, to profit more from its rapidly growing business, CEO Murray Auchincloss said on Tuesday. 

BlackRock CEO seeks common ground with Texas post ESG friction

BlackRock's CEO Larry Fink aimed to connect with Republican officials at a Houston energy summit after Texas banned the asset manager due to its shift from fossil fuels. 

Wind energy beats gas in Europe for the first time, lowers carbon emissions 

Last year, Europe made more electricity from wind power than from gas for the first time ever. This drop in using fossil fuels helped cut down on the region's carbon emissions, data from think-tank Ember said. 

India’s TERI to launch green shipping portal at the World Sustainable Development Summit

At the World Sustainable Development Summit in New Delhi this week, The Energy and Resources Institute (TERI) will introduce a green shipping portal. 

India’s largest power producer to take its green energy arm public in 2025 

The top official of India's biggest power producer, NTPC Ltd said on Tuesday that its renewable energy division is expected to become a public company by March 2025. 

EU Commission set to propose major CO2 cuts by 2040

The European Commission plans to suggest on Tuesday that the EU should reduce the amount of greenhouse gases it produces by 90% by the year 2040. 

China toughens rules for industrial polluters ahead of carbon market expansion

China has made its rules stricter for factories and other industries that cause excessive pollution, part of its national carbon market. 

Deutsche Bank unit expects divestments following new ESG rules

Deutsche Bank's investment unit needs to sell more than 5% of its investments in certain ESG funds as a result of new regulations from the European Union. 

California’s historic storm causes $11 billion in economic losses

The recent record storm known as ‘Atmospheric River’ in California, with its unprecedented rainfall, resulted in two fatalities and up to $11 billion in damages and economic losses. 

UN climate chief appeals for $2.4 trillion in climate finance

Executive secretary, United Nations Framework Convention on Climate Change Simon Stiell while delivering a lecture at ADA University in Azerbaijan’s Baku on Friday, said at least $2.4 trillion is needed every year for energy transition of developing countries (excluding China). 

China implements stricter rules to combat carbon trading fraud

On Sunday, China introduced new regulations to better oversee carbon trading and clamp down on emissions data fraud. These rules, approved by China's cabinet, take effect from May 1. 

Italy will invest in Enel’s solar panel production: PM 

Prime Minister Giorgia Meloni announced that Italy will invest in Enel's new photovoltaic panel factory in Sicily, aiming to increase production and establish itself as Europe's primary location for solar panels.

Germany’s climate fund falls short of $10.8 billion, threatens green projects

Germany's fund for addressing climate issues and transformation may fall short by up to €10 billion ($10.8 billion) next year, which could challenge the country's efforts to reduce greenhouse gas emissions. This shortfall could affect essential projects related to solar and hydrogen. 

Australia announces fuel efficiency rules to boost EV cars 

On Sunday, the Australian government released a ‘preferred model’ for new standards on vehicle emissions as the country is looking to promote the uptake of electric cars. 

‘Atmospheric river’ blankets over California, governor declares emergency 

Severe weather struck California on Sunday, with heavy rainfall and hurricane-force winds affecting a wide area. A phenomenon known as an atmospheric river. Power outages impacted 750,000 customers, and there's a looming threat of significant floods. 

UK banks might hold too little funds to withstand climate change, say investors 

In a letter to the Bank of England, seen by Reuters, a group of investors, including major pension schemes from the UK and Europe, expressed worries that British banks might not have enough money set aside to deal with the impacts of climate change on their businesses. 

Canadian pension manager launches C$1 billion energy transition fund

The Alberta Investment Management Corporation (AIMCo), a top Canadian pension manager, has announced the formation of a C$1 billion ($745 million) energy transition fund. This fund, with AIMCo managing C$158 billion in assets, is specifically designed for investments in global efforts related to energy transition and reducing carbon emissions.

Brazil’s Amazon Fund raised $640 million in donations for rainforest in 2023 

Amazon Fund, in 2023, which focuses on developing the rainforest sustainably, received $640 million in new pledged donations from developed countries, Tereza Campello, environmental director at National Development Bank said on Thursday. 

Climate software firm raises $100 million in Series C funding 

Watershed, a climate software company, raised $100 million in a Series C funding round led by investment firm Greenoaks, valuing the company at $1.8 billion. 

Activist investors withdraw Exxon’s climate proposal 

Exxon Mobil stated in a court filing on Thursday that activist investors are backing down from a climate proposal. 

US House to vote on overturning Biden’s freeze on natural gas exports

The US House of Representatives, next week, will decide whether to cancel the Biden administration's temporary block on approving the export of liquefied natural gas (LNG)

Google signs its largest-ever offshore power agreement with wind projects in Netherlands 

Google has made its biggest deal ever to buy power from offshore wind projects near the Netherlands. 

UK is not prepared for the worst 2024 heat waves, committee says 

Environmental Audit Committee said in a report published Wednesday that the UK government’s plans to mitigate the effects of rising temperatures published last July mostly reiterated existing policy and don’t show “sufficient urgency or ambition.” 

Companies struggle with EV transition as demand for speedy delivery surges 

As the demand for fast package delivery increases, companies are facing challenges transitioning to electric vehicles (EVs). Americans now make over 15% of their purchases online, contributing to a quadrupling of digital sales to $1 trillion annually over the past decade. 

Sustainable aviation fuel crunch can hamper airlines’ climate targets: Cathay Pacific official

Airlines are finding it difficult to obtain and use lower-carbon fuels due to a shortage in supply and high costs, according to Cathay Pacific's head of procurement, Kristof Van Passel. 

EU leaders show signs of toxic disease due to chemical pollution; prompts action

Top European leaders, including former vice presidents like Frans Timmermans and the current environment commissioner Virginijus Sinkevičius, have tested positive for a toxic chemical disease caused by emissions, according to a campaign advocating for a European Union-wide ban.

White House senior adviser John Podesta to replace Kerry as US climate diplomat

On Wednesday, the White House announced that John Podesta, a senior adviser, will take over from John Kerry as the US climate change diplomat. 

European solar industry appeals for EU intervention amidst Chinese import pressure

European solar panel manufacturers are asking the European Union (EU) for urgent help to prevent local companies from closing due to price pressure from Chinese imports, in a letter obtained by Reuters. 

Indonesia permits 30% of overseas CO2 in new carbon storage regulations

Indonesia's new presidential regulation on carbon capture and storage (CCS) allows operators to reserve 30% of storage for imported CO2. 

Top US business groups sue California over climate disclosure laws

Big business groups including the US Chamber of Commerce and the American Farm Bureau Federation have filed a lawsuit against California seeking to cancel the state's new climate disclosure laws.  

Biden administration sets rules to make gas & electric stoves more efficient 

The Biden administration has introduced new energy-saving rules for kitchen stoves to cut utility bills and enhance reliability. These rules won't prohibit gas stoves. 

Spain’s Catalonia makes a multi-billion strategy to survive without rain by the end of this decade 

In an effort to address water scarcity resulting from less rainfall, Catalonia, home to Spain's second-largest regional economy and the renowned tourist destination Barcelona, is set to introduce an ambitious plan by the end of this decade. 

Global spending on clean energy hit record $1.8 trillion, still falls short of reaching net zero 

Global spending on clean energy reached a record-breaking number of $1.8 trillion last year. However, it is still not enough to reach net-zero emissions, as reported by BloombergNEF on Tuesday. 

World’s largest jeweler opts for recycled gold and silver over mined metals

Pandora, the biggest jewelry maker in the world, has decided to stop using newly mined silver and gold and pick only recycled precious metals, as it consumes less energy. 

Exxon’s lawsuit concerns shareholders advocating environmental and social change

Shareholders who use resolutions to push companies on environmental and social matters are concerned that a lawsuit by Exxon Mobil, skipping the US securities regulator, might weaken their impact. 

Democrats want Biden’s Power, EV climate plan to be relooked

Democrats in swing states are expressing concerns about President Biden's environmental policies. They worry that these policies, which focus on areas like pollution reduction from power plants and promoting electric vehicles, might not sit well with voters who are more focused on costs. 

ESG funds hit historic lows in nearly two decades, big banks speak up

ESG (Environmental, Social, and Governance) investing had a tough time in the last three months of 2023. ESG funds in the US lost over $5 billion, and globally, there were overall withdrawals from these funds for the first time ever. 

EU’s ambitious net zero goal demands 1.5 trillion annual investment: Report

Research by a group of Green EU lawmakers says that the European Union needs to invest 1.5 trillion euros (about $1.6 trillion) every year to achieve its goal of reaching net zero carbon emissions by 2050. 

California breaks century-old ties with Big Oil 

California, a big player in producing oil, is now breaking ties with the oil industry, a significant move to shift away from fossil fuels as California focuses more on fighting climate change.

Global standards chief calls for new ethics code to tackle greenwashing

Companies responsible for verifying environmental, social, and governance (ESG) claims will be urged to adhere to a new ethics code to combat greenwashing, according to the head of a global standards body, as told to Reuters. 

Carbon credits-backed insurance startup raises $12.17 million funding

A new insurance startup, founded by three former Allianz executives, has completed the largest climate-focused seed funding round in Europe in over a year. 

Panama Canal seeks help of coffee farmers to work on deforested, drought-hit regions

In Panama, coffee farmers are being encouraged to plant trees near the country's famous canal in an incentive program. This program not only benefits the farmers but also helps the important global waterway. 

Worries rise over methane emissions as world’s largest ship sets sail

As the world's largest cruise ship, Icon of Seas, began its maiden voyage on Saturday from Miami, environmental groups are concerned about the release of methane by the ship’s liquefied natural gas-powered vessel. 

Daimler Truck & Abu Dhabi to explore Gulf’s green hydrogen supply 

The world’s biggest commercial vehicle maker, Daimler and Abu Dhabi have entered into an initial agreement for the supply of green hydrogen to fuel future fuel-cell trucks in Europe for the Gulf state.

China breaks solar records in 2023, surpasses 50% of global additions

In 2023, China exceeded the total solar panel installations of any other nation, contributing to its already substantial lead in the global renewable energy landscape. 

Truck maker partners with German chemical giant to recycle batteries for its EVs 

Iveco Group, an Italian bus and truck maker, has partnered with German chemicals group BASF for the recycling of lithium-ion batteries for their electric vehicles. 

UN overcomes sanctions by opening Russian bank account for climate funds

The United Nations has taken an unconventional step to navigate Western sanctions by opening a Russian bank account in 2022. 

Global groundwater levels see ‘accelerated’ decline – study 

A study published on Wednesday reveals a significant and accelerated decline in global groundwater levels over the last four decades. 

Investors dread as Green Asset Ratio is set to be reported by EU banks 

European banks are cautioning investors not to focus too much on the upcoming Green Asset Ratio, an ESG metric, as early estimates suggest the industry is falling significantly short of the required levels. 

Automotive manufacturing giant to invest $1.4 billion in Brazil to boost sustainable mobility

General Motors has announced a 7 billion reais ($1.42 billion) investment in Brazil from 2022 to 2028, aiming to enhance "sustainable mobility." 

Upcoming Biden policy to impact natural gas exports, posing delays for major projects

The Biden administration is expected to announce plans in the coming days to increase environmental scrutiny on applications for natural gas exports. 

West Africa’s city that provides clean water under threat of deforestation due to human activities

Sierra Leone's capital, Freetown, is facing a severe threat to its clean water supply from a national park.Human activities like land grabbing, charcoal burning, quarrying, and marijuana cultivation are endangering the park, as revealed in a recent UN report.

Europe’s carbon market goes downhill as renewable power shoots up 

In Europe, the notable increase in clean-energy production is reducing the need for carbon permits, and the sluggish industrial recovery is contributing to keeping emissions at lower levels. 

Green finance pioneer Uruguay seeks ESG loans from multilaterals

Uruguay aims to borrow at least one multilateral loan with low-interest rates linked to environmental goals this year. 

US oil refiners urge Biden administration to reform renewable fuel credit program

US oil refiners, including Coffeyville Resources Refining and Marketing and Wynnewood Refining Company, are urging President Biden's administration to change the renewable fuel credit program. 

Opinion polls suggest 2024 EU elections could make climate policies harder

The upcoming European Parliament election might complicate the approval of ambitious climate change policies if, as recent polls indicate, takes a "sharp right turn." 

Pressure mounts over mining firms as investors raise the bar on tailings dam practices

A group of investors overseeing $25 trillion has decided to take action against mining companies that have not adopted safety environmental standards for the construction and maintenance of tailings dams. 

ESG debt swaps grab interest of top global banks 

Several banks are competing to tap into a growing market focused on Environmental, Social, and Governance (ESG) debt, estimated to potentially reach $800 billion by Barclays Plc. 

Germany to unveil roadmap for construction of gas power plants

German stakeholders are expected to finalize an agreement this week on a long-awaited plan for building multiple new gas-fired power plants, as revealed by three sources from the government and industry to Reuters on Monday. 

Climate tech venture firm raises $335 million to back renewable energy

ArcTern Ventures, based in Toronto, announced on Monday that it secured $335 million from TD Bank and other institutions for a climate technology fund. 

Brazil’s state-run oil firm to buy stakes in domestic onshore wind & solar projects this year 

Brazil's state-owned oil company, Petrobras, plans to acquire shares in domestic onshore wind and solar projects this year, aiming to build a renewable energy portfolio of around 2 gigawatts (GW), according to the company's CEO in a statement to Reuters.

Renewable energy firm secures funds for solar and battery projects in UK 

Renewable energy company Low Carbon said on Tuesday that it received funding for the construction of a 385-megawatt portfolio of solar and battery storage projects in Britain. 

Biden announces $207 million for fertilizer, rural clean-energy projects

The Biden administration is investing $207 million in domestic fertilizer and renewable energy projects to enhance supplier competition for US farmers and ranchers. 

US Supreme Court decision could affect Biden’s ESG investing rule

An impending Supreme Court decision that may restrict federal agency powers could have a big effect on a challenge by Republican-led states against a rule from President Biden. 

Umicore seeks site for battery recycling near chemical industry for CO2 capture & storage 

Umicore is in search of a European site for a new battery recycling facility. The company is primarily exploring locations near chemical industry sites to collaborate on carbon capture and storage, as mentioned by its CEO, Mathias Miedreich, in a recent Reuters interview on Friday.

Germany poised for a record wind power as Atlantic storm approaches 

Germany's weather service predicts strong gusts in the north, west, and central areas overnight into Monday, with heavy squalls in the North Sea and near mountain peaks. 

Met Office predicts record high CO2, nears climate disaster

Carbon dioxide emissions are set to experience one of the largest increases in history this year, bringing the planet closer to the brink of catastrophic climate change. 

World’s biggest offshore investor to plan $160 billion ‘Energy Islands’

A major investor in offshore wind farms is starting a new company, Copenhagen Energy Islands, with the aim of constructing artificial islands in the North Sea that combine wind power and hydrogen production. 

Oil giant Exxon files lawsuit against climate activist investors’ proposal 

Exxon Mobil Corp filed a complaint in a Texas court on Sunday to block a climate proposal by activist investors from being voted on during the company's May shareholder meeting.

Europe suffers from delays in energy projects due to execution issues, says utilities CEO

The CEO of Portugal's largest utility firm, Energias de Portugal, told Reuters in Davos that most delays in subsidized energy projects in Europe are due to lack of efficient execution. 

China’s biggest solar maker says Trump’s comeback will not harm US sales 

China-based Longi Green Energy Technology Co assured that Donald Trump’s return would not affect the company’s plans to expand in the United States. 

Bloomberg’s Zero Podcast examines impact of Trump’s comeback on US climate goals 

On this week’s episode of Bloomberg’s Zero Podcast, Tom Steyer, a hedge-fund billionaire, speaks to Zero host Akshat Rathi about the effects of former US President Donald Trump’s return to his previous position on climate ambitions for the United States. 

Trawling ocean seabeds for seafood is releasing huge amount of CO2, study says 

A recent study reveals that the practice of trawling, a destructive fishing technique, the ocean floor for shrimp, cod, and other seafood results in the release of up to 370 million metric tons of CO2 into the atmosphere annually. 

New York’s utilities regulator approves $1.2 billion clean city project 

On Thursday, the utilities regulator of New York State approved Con Edison's $1.2 billion Idlewild project in Queens, aimed at enhancing the reliability of the city's electrical system. 

EU to cut 90% emissions by 2040

In an ambitious move, the European Union’s executive arm is set to recommend a 90% net reduction of greenhouse gases by 2040 from 1990 levels. 

BP, Sinopec sign MoU to strengthen cooperation in fuel sales, oil & trading

China’s oil major Sinopec and BP signed a memorandum of understanding (MoU) at the World Economic Forum in Davos. The agreement aims to enhance cooperation in various areas, such as fuel sales, oil and gas trading, and upstream activities, as reported on Sinopec's Weibo account on Thursday.

Indonesia to triple its biomass consumption in 2024 

Indonesia plans to increase its use of biomass in power generation to 2.83 million metric tons in 2024, three times the 991,000 tons consumed last year. This initiative is part of the country's efforts to reduce emissions, according to an official from the energy ministry.

Asset management firm says ESG interest is steady, despite backlash from US politicians

According to the CEO of the global asset management firm Nuveen, investors still hold an interest in environmental, social and governance (ESG) factors despite facing backlash from many conservative US politicians. 

New research shows disturbing decline in Greenland’s last two ice sheets 

According to a study by Nature, a climate change journal, Greenland’s ice sheet has lost 5,091 sq km (1930 sq miles) of area between 1985 and 2022, the first full area loss to happen ever. 

Climate advisors tell EU to revamp its existing policies to phase out fossil fuels 

Official advisors have told the European Union to revise its climate policies to promptly move towards the phase-out of fossil fuels and achieve climate targets set by the bloc. 

US elections will be significant for global climate fights, Kerry says at DAVOS 

As the US elections pave the path for many major decisions in 2024, John Kerry, who stepped down from his position as a climate envoy, emphasized that the Presidential elections will bring a notable difference to global climate fights. 

Europe to get greener steel turbines to cut carbon footprint 

The world’s largest turbine maker, Vestas Wind Systems A/S, is partnering with ArcelorMittal to use recycled or old steel to make turbine blades with the aim of cutting carbon footprint. 

Biodiversity loss requires just as swift action from investors as climate change: UBS Group 

UBS Group AG has warned that investors have largely undermined the effects of biodiversity loss. 

UBS Chair Colm Kelleher and Chief Executive Officer Sergio Ermotti wrote in a study published by the bank’s sustainability and impact institute on Monday that, “biodiversity loss requires just as swift action as climate change.”

Singapore’s marine biofuel demand to double by 2025, TotalEnergies executive says 

Singapore’s marine biofuel demand is suspected to increase double-fold by 2025 as shippers seek to cut emissions, a senior TotalEnergies executive said.

EIA forecasts wind, solar to spearhead US power generation surge in the next 2 years

Wind and solar energy will lead power generation in the United States for the next two years, a report by the Energy Information Administration (EIA) said on Tuesday. This will be largely supported by renewable energy installations across the country. 

Employees lack green skills, might see delay in low carbon transition: report 

A large number of businesses are witnessing a lack of green skills among their employees. This will reportedly see slow to low progress in transitioning to a low carbon economy, reveals a report that’s collaborated with Spanish renewable energy giant Iberdrola. 

Sweden’s Northvolt raises largest green loan in Europe of $5 billion to expand battery factories

Swedish lithium-ion battery producer Northvolt said that it has raised $5 billion, the largest green loan to have been issued in Europe, to expand the firm’s battery factory in north Sweden.