BP invests $220m in US solar development projects June 1, 2021 BP today boosted its investment in US renewables with a $220m purchase of solar projects from developer 7X Energy. The energy giant struck a deal for assets with a production capacity of 9GW, which will be developed through a joint venture with Lightsource, Europe’s largest solar developer. It marks BP’s first independent investment in solar [...]
Can you code? Now is your chance to rescue the planet May 31, 2021 It has never been so easy to build a technology product, raise capital, and bring it to thousands, even millions of people. And all in a matter of months. Consider Hopin; the London-based virtual events platform, founded in 2019, has grown from six employees to more than 400 and now boasts over 80,000 user organisations – a good [...]
City has lost a great green advocate but the fight will continue May 31, 2021 Last week the City of London, and dare I say the world, lost a key advocate of the role the financial sector plays in the fight against climate change. Sir Roger Gifford, Lord Mayor of the City of London in 2012-13 and Chair of the Green Finance Institute, was instrumental in driving forward the green [...]
Cory wins £12.1m funding to supply thousands of London homes with low-carbon heat May 28, 2021 London-based environmental group Cory has been awarded £12.1m through the government’s £320m Heat Networks Investment Project (HNIP). The fund, which is split into a £1.6m commercialisation grant and a £10.5m construction loan, will provide low-carbon warmth to 21,000 London homes. Cory’s existing Riverside energy from waste (EfW) facility will provide heat for up to 10,500 [...]
UK mulls a carbon tax on polluting imports May 28, 2021 The Prime Minister is considering a carbon tax on imports that would hinder companies outsourcing their emissions and also protect farmers and local producers from being undercut from low-regulation rivals.
Ex-Aston Martin CEO: Britain needs to fight for its place in the electric car industry or risk irrelevancy May 27, 2021 As a proud Brit walking into boardrooms in Tokyo, Chennai, Brussels or California, I was often aware of the preconceptions the natives sat around the table held. The British, of course, are known for being polite, humorous and big tea drinkers. I always viewed these stereotypes as nothing more than an innocent oversimplification. A little [...]
Over half of financial services professionals claim ‘greenwashing’ is rife in the industry, study says May 25, 2021 More than half of financial services professionals believe ‘greenwashing’ is rife within the industry, according to a study released today, as employees fear competitors intentionally inflate their sustainable practices. The study by data agency iResearch Services, which polled 550 decision-makers at financial institutions, also found that 38 per cent believe every business is operating ‘unethically’ [...]
Financial services industry is one of the UK’s biggest contributors to climate change May 25, 2021 Financial institutions are under fire for not doing enough to tackle climate change in the UK, despite the recent focus on green financing. UK banks and asset managers were responsible for financing 805m tonnes of carbon in 2019, equivalent to 1.8 times the annual net emissions of the UK as a whole. The research by [...]
Exclusive: UK banks jump on the tech bandwagon to give their operations a green boost May 24, 2021 Almost three quarters of all UK banks are embracing digital technology to make their business operations greener. In fact, two in five banks are using intelligent automation and digitising all paper processes in a bid to be more sustainable, according to new research by Censuswide, and shared with City A.M. today. This was followed by [...]
Legal & General Investment Management joins Shell’s shareholder rebellion May 24, 2021 One of London’s oldest fund managers, Legal & General Investment Management (LGIM), has been revealed to have joined the shareholder rebellion today against Shell’s climate strategy last week, according to reports. Saying that the energy giant’s plans lacked credibility and the ambition needed to tackle climate change, LGIM voted against Shell’s climate transition targets, the [...]