Orbex unveils world’s most carbon neutral space rocket ahead of COP26 October 21, 2021 Space technology firm Orbex has unveiled what is thought to be the world’s most ‘environmentally friendly’ rocket. The Scottish firm’s space rocket, known as Prime, will emit be up to 96 per cent less emissions than comparable space launch programmes, according to a new study by Exeter University. The rocket uses a renewable, ‘ultra-low-carbon’ fuel, and [...]
COP26: Khan to call for cities like London to have greater powers and funding October 20, 2021 London mayor Sadiq Khan will use the upcoming COP26 to vouch for cities like London to have greater powers and funding. It forms part of the mayors bid to “tackle the twin dangers of the climate emergency and toxic air pollution”, his spokesperson told City A.M. “The mayor will use COP26 to highlight how London is [...]
Mysterious Ma: Billionaire Alibaba founder spotted in Spain October 20, 2021 The billionaire co-founder of Alibaba, Jack Ma, has been spotted in Spain in reportedly his first trip abroad since he butt heads with hawkish Chinese regulators. The reports of Ma being alive and well, and seemingly not banned from leaving China, triggered Alibaba’s Hong Kong-listed shares to jump 6.7 per cent on Wednesday – their [...]
Marble Arch Mound saga: Westminster Conservatives ‘lack financial control’, says Labour councillor October 20, 2021 Labour Westminster councillor Paul Dimoldenberg has accused the council of being ‘untrustworthy’ with public money following the £6m Marble Arch Mound saga. The Westminster Council yesterday published its internal review into how the costs for the project swelled from £2m to £6m within a matter of months. “The £6m Marble Arch Mound fiasco has shown [...]
Redress on the horizon? NAO begins probing FCA’s handling of British Steel transfer debacle October 20, 2021 The National Audit Office (NAO) has begun its probe into the Financial Conduct Authority’s (FCA) handling of the British Steel transfer debacle. The investigation is still in its early stages, but the audit watchdog said that it aims to publish its findings in Spring next year. The 2017 scandal involved 7,700 British Steel Pension Scheme [...]
Rio Tinto to halve carbon output by 2030 with $7.5bn worth of investments October 20, 2021 Anglo-Australian miner Rio Tinto is set to halve its carbon output by 2030, which it said will be supported by around $7.5bn in investments. The new emissions goal, which more than triples its previous target, should see the mining giant slash its scope one and two emissions, meaning it seek to limit the emissions produced [...]
London’s Satellite Vu bags £15m in Series A as it plots to decarbonise the housing sector October 20, 2021 London-based space tech scale-up Satellite Vu has raised £15m in Series A funding, as it readies plans to launch seven thermal and infrared imaging satellites into orbit. The satellites will be able to provide real-time data on how green, or energy efficient, every building on the planet is – as the UK seeks to decarbonise [...]
The UK’s smaller businesses are lagging in net zero push, says British Business Bank October 20, 2021 Smaller businesses are responsible for around half of the UK’s business-produced emissions, according to new research by the British Business Bank. Despite climate commitments like net zero pledges becoming more prevalent among businesses as the government embarks on its ‘green revolution’, only around half of smaller firms have decarbonisation or cutting their environmental impact as [...]
Legal & General: UK risks locking out lower income households from making net zero transition October 20, 2021 The UK risks missing its net zero target by limiting the climate transition only to higher income households, according to a new report by Legal & General. The government’s new boiler strategy will see £5,000 pound grants given to households to swap out gas boilers for lower carbon options such as heat pumps. However, the move risks locking [...]
Firms lure in fresh talent with non-financial perks over pay rises, says Indeed October 20, 2021 Employers are increasingly luring in fresh talent with non-financial perks instead of pay rises, according to new data. After more than 18-months of pandemic trading, firms have been offering flexible working hours, private medical and dental insurance, childcare arrangements and extra holiday against the backdrop of a tough hiring environment. While 47 per cent HR [...]