renewable energy

2024 is the year the world could reach peak coal use. But it’s a tough habit to quit

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With the COP28 climate summit now in the rearview mirror, some researchers say the moment is here when coal consumption in power plants around the world will finally peak before beginning a perpetual fall. For more than a century, coal has been used to produce electricity, and to this day remains the workhorse of the global power … Read more

Big Canadian banks may be making misleading claims on sustainability, says securities complaint

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Canada’s big five banks are potentially misleading investors with their use of terms like sustainable finance, according to a complaint to securities regulators by a climate advocacy group. Banks are using the term “sustainable finance” too broadly and not backing up the claims with data, Investors for Paris Compliance said in its submission Tuesday to … Read more

Shares of China Evergrande EV unit plunge 23% after executive director is detained

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A sign on the exterior of the China Evergrande New Energy Vehicle Group Ltd. research headquarters in Shanghai, China, on Friday, Sept. 24, 2021. Bloomberg | Bloomberg | Getty Images Shares of the electric vehicle manufacturing arm of property developer China Evergrande plunged 23% on Monday after the unit revealed its vice chairman had been … Read more

New oil and gas law risks UK’s green cred, says former climate chief – POLITICO

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LONDON — A new law to introduce annual licensing rounds for North Sea oil and gas exploration is a “distraction” that risks undermining the U.K.’s green “credibility” on the world stage, the country’s former top climate diplomat has warned. MPs will vote on the government’s Offshore Petroleum Licensing Bill for the first time on Monday. But … Read more

Spain Doubles Down On Plan To End Nuclear Power By 2035; PM Sánchez Bets On Renewables

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Prime Minister Pedro Sánchez is intensifying Spain’s efforts to source its energy grid from solar and wind sources, formally ditching nuclear power. Reuters / SUSANA VERA Spain will shutter all of its remaining nuclear power plants by 2035, the government confirmed on Wednesday, as part of its aggressive energy plan for the future. The Council … Read more

Hydrogen tax credit plan unveiled, aimed at jump starting industry – Daily News

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By Fatima Hussein and Jennifer McDermott | The Associated Press The Biden administration released its highly anticipated proposal for doling out billions of dollars in tax credits to hydrogen producers Friday, in a massive effort to build out an industry that some hope can be a cleaner alternative to fossil fueled power. The U.S. credit … Read more

Chevron slashes California spending on ‘adversarial’ fossil-fuel policies – Daily News

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By Kevin Crowley and Chunzi Xu | Bloomberg Chevron Corp. is slashing oil-refinery investments in California because of “adversarial” policies toward fossil fuels, a move that may boost what already are the highest pump prices in the nation. The oil giant headquartered in the San Francisco Bay area has cut spending in the Golden State … Read more

New ministry a part of govt’s focus on renewable energy, says deputy minister

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JOHOR BARU: The new Energy Transition and Public Utilities Ministry is created as part of the government’s focus on renewable energy, says Deputy Minister Akmal Nasrullah Mohd Nasir. The Johor Baru MP said he was excited to be given a chance to work together with Deputy Prime Minister Datuk Seri Fadillah Yusof, who is leading … Read more

We’re drunk on oil and gas, need to ‘phase-out’ fossil fuels, Markey says

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Any agreement for fighting the negative impacts of a changing climate to emerge from the international summit currently being held in Dubai must include a plan to “phase out” the use of fossil fuels but nevertheless may not, according to the Bay State’s junior U.S. Senator. U.S. Senator Ed Markey, speaking from the COP28 summit … Read more