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 [...]
Green tariffs alone not enough to prompt UK energy consumers to switch supplier February 2, 2021 | City Talk Over three-fifths (62%) of UK energy consumers are more likely to purchase a product or service that is sustainable, with over 40% of under 35s willing to pay a premium for sustainable energy, a new EY survey reveals today. The survey, which canvassed the views of 2,000 UK energy consumers to explore their attitudes towards [...]
Renewable energy production surpasses fossil fuels in 2020 January 28, 2021 Renewable energy sources surpassed fossil fuel energy production in the UK for the first time ever in 2020, led by wind power generation. According to analysis by think tank Ember, renewable sources provided 42 per cent of the UK’s energy, while fossil fuel sources like gas produced 41 per cent. The remaining 17 per cent [...]
Martha Stewart’s got the munchies: Lifestyle guru selling CBD oil treats for pets January 26, 2021 Lifestyle guru Martha Stewart today launched a line of cannabis-infused oil drops and soft-baked chews for dogs
Shock to the system: Ofgem proposes new body to run electricity network January 25, 2021 Ofgem has this morning submitted proposals for the creation of an independent body to run the UK’s electricity network, in what would be a radical shake-up of the way the country’s power is managed. Such a body, the watchdog says, could save consumers up to £4.8bn by 2050, while leading the country’s charge towards net [...]
Sustainable investing may be the breakout star of 2021 January 24, 2021 The concept of sustainable investing has been around a while but, for many, it has taken a long time for the penny to drop – that we can actually use our money, our investment decisions, to bring positive change in the world. The good news is that momentum has been slowly gathering over the last [...]