World must invest $131 trillion in clean energy to hit Paris targets March 16, 2021 The world must invest $131 trillion (£94 trillion) in clean energy resources over the next 30 years in order to hit the climate targets set out in 2015’s Paris accords. A new report from the International Renewable Energy Agency (IRENA) found that investment must increase $33 trillion from current plans over the coming decades if [...]
Boris Johnson rules out meat and carbon taxes ahead of COP26 climate pledges March 1, 2021 Prime Minister Boris Johnson has categorically ruled out introducing new levies on meat or carbon despite his net zero targets
UK growth helps Iberdrola offset Spanish power drop February 24, 2021 Spanish renewables giant Iberdrola this morning said that impressive growth in the UK helped balance out a fall in electricity demand in its home market due to the pandemic. The firm, which owns energy supplier Scottish Power, that the margins of the its UK business jumped over 40 per cent in 2020. This was largely [...]
Rishi Sunak urged to charge-up green investments in UK’s Covid recovery February 17, 2021 From the net zero transition to air pollution and electric vehicles, Chancellor Rishi Sunak is being urged to ramp up green investment as part of the Covid recovery. MPs on Parliament’s Environmental Audit Committee have set out guidelines for how Sunak can introduce more ambitious environmental measures. In the report, Conservative and Labour MPs criticise [...]
Zedify: Meet the firm trying to make our city streets greener February 15, 2021 The UK Government declared a Climate Emergency in the summer of 2019. There is no single definition of what action this mandates, but MPs have pledged to reduce the country’s carbon emissions by 80 per cent by 2050. Whilst not the ‘carbon neutral by 2030’ goal sought by campaigners such as Extinction Rebellion, it is [...]
London loses carbon futures trading to Amsterdam, in Brexit hit to City February 8, 2021 Intercontinental Exchange (ICE) today said it will move its trading of European carbon futures and options to its Netherlands-based exchange in Amsterdam from London during the second quarter, in the latest sign of financial activity leaving Britain for the bloc due to Brexit.
Drax invests £226m in biomass power ahead of coal plant closure February 8, 2021 British power company Drax will buy major Canadian biomass fuel producer Pinnacle for £226m, as it prepares for the closure of its coal power stations next year. Once the biggest polluter in the UK, the firm will cease burning coal at its two North Yorkshire units in March this year and will eventually close the [...]
UK to see six new offshore windfarms in drive toward net zero February 8, 2021 Britain’s first major auction of offshore wind farm leases in over a decade has seen Orsted, RWE, BP and Total awarded contracts, the Crown Estate said this morning. With six projects, the venture will represent nearly eight gigawatts (GW) and could provide enough power to fuel around 7m homes. Chief executive of The Crown Estate [...]
Government to invest £40m in helping businesses reduce carbon footprint February 6, 2021 The government is set to invest £40m in helping polluting industries reduce their carbon footprint as the Prime Minister attempts to cozy up to US President Joe Biden’s new green agenda. Businesses in Britain’s energy-intensive sectors, including pharmaceuticals, steel, paper and food and drink, will be able to apply for their share of the cash [...]
Climate co-operation could be welcome boost to the special relationship February 3, 2021 A new US President always brings a renewed sense of hope and optimism, not only to the 50 states themselves but across the globe. Another norm in the early days of any new administration is a jostling for position from foreign allies and diplomats, not only to secure the trophies of early phone calls and [...]