Government calls on banks to advise on first green gilt December 8, 2020 The UK government has asked banks to bid for contracts to advise on the launch of the country’s first green gilt. Chancellor Rishi Sunak unveiled plans last month to issue climate-focused securities for the first time. He said the bonds would contribute to a “new chapter for financial services” in the UK. Green government bonds [...]
Italy’s Eni joins North Sea wind power grab with Dogger deal December 4, 2020 By Nerijus Adomaitis and Stephen Jewkes OSLO/MILAN (Reuters) – Italy’s Eni is buying a 20% stake in the Dogger Bank Wind Farm project from Norway’s Equinor and Britain’s SSE as it seeks to gain expertise in the sector and cut its greenhouse gas emissions 80% by 2050. The project off the northeast coast of England [...]
Japan, South Korea and industry groups oppose EU plan to cut shipping emissions November 27, 2020 Japan, South Korea and a fleet of international shipping groups have warned the European Union against its plan to add greenhouse gas emissions from the maritime sector to Europe’s carbon market. As the 27-country EU seeks to steer its economy towards “net zero” emissions by 2050, the executive European Commission wants to expand its carbon [...]
Can the government hit the targets in its 10 point climate plan? November 18, 2020 Last night Boris Johnson unveiled his much-touted 10 point plan to drive a “green industrial revolution” in the UK, creating 250,000 jobs in the process. Featuring commitments in sectors such as heating, wind power, nuclear energy, hydrogen and electric vehicles, it has been largely positively received by industry. However, some are concerned that some areas [...]
SSE takes Covid profit hit amid green energy push November 18, 2020 Energy giant SSE today said that profit before tax had fallen a quarter in the first half of the year due to the coronavirus pandemic. The FTSE 100 company said that the pandemic had cost it £115m over the last six months, with full year costs between £150m and £250m forecast. Adjusted profit before tax [...]
Government green job taskforce to support creation of 2m jobs November 12, 2020 The government has today launched a green jobs task force to support the creation of 2m skilled jobs over the next decade. The new body will assess what the UK job market needs to do to adapt as the country seeks to transition to a net zero emissions energy system by 2050. It will create [...]
SSE joins net zero push with 2050 emissions pledge November 11, 2020 Energy giant SSE has become the latest business to commit to reaching net zero emissions by 2050, it was announced this morning. Over 1,000 companies have already signed up to the “Race to Zero” campaign, placing their operations in line with efforts to limit global warming to 1.5 degrees. The Scottish business has already put [...]
Exclusive: Downing to raise £200m for renewable energy fund November 2, 2020 Downing Renewables and Infrastructure Trust (DORE) will today announce a £200m capital raise in order to invest in a range of renewable energy assets. The fund will put money into a variety of clean energy sources, including hydro, solar, wind and geothermal power. The assets in question will be spread across the UK, Ireland and [...]
London loses crown as global green finance leader October 27, 2020 London has lost its world crown for green finance quality, slipping behind Amsterdam and Zurich after more than two years at the helm, according to the latest Z/Yen index. In its 2020 Global Green Finance Index (GGFI) released to City A.M., the City of London think tank ranked 74 financial centres across the world for [...]
Boris Johnson to unveil £160m for offshore wind power October 6, 2020 Boris Johnson will use today’s Conservative Party Conference speech to pledge £160m for developing offshore wind power as the UK attempts to “build back greener” after the coronavirus crisis. By 2030, the government is targeting developing enough wind power capacity to provide enough energy for the equivalent of every UK home. It is now looking [...]