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Net zero

  • SSE Networks bows to stakeholders and plots a £4bn net zero investment

    July 1, 2021

    Scottish and Southern Electricity Networks (SSEN) may pledge over £4bn in the push for net zero, the energy giant said in a draft business plan today. The draft plan for 2023 to 2028, which was led by stakeholders according to SSEN, set goals like cutting unplanned power interruptions by 20 per cent and connecting a [...]

  • Danske Bank launches UK’s first carbon-neutral mortgage

    June 29, 2021

    Danske Bank has launched the UK’s first carbon-neutral mortgage, to tackle emissions generated throughout the mortgage life cycle. The mortgages, certified as carbon neutral by the Carbon Trust, will ensure physical paperwork is limited and recycled in Danske’s offices. The Carbon Trust calculated that each mortgage produces around 96kg of carbon, equivalent to driving 241 [...]

  • European Parliament approves landmark law to make emissions targets legally binding

    June 24, 2021

    The European Parliament has approved a landmark law today which makes emissions targets within the European Union legally binding. Earlier today, the UK’s Committee on Climate Change (CCC) said the government’s lack of policies jeopardise the country’s chances of meeting its net zero emissions by 2050 target. “Today is a historic day,” Swedish Social Democrat [...]

  • EU energy ministers to redefine rules for fossil fuel project funding

    June 11, 2021

    Energy ministers from the European Union have gathered in Luxembourg today to discuss EU support for natural gas projects, even though the European Commission has urged fossil fuel funding to end to reach net zero. The EU’s “TEN-E” rules can label energy ventures as Projects of Common Interest (PCI), which offers them certain EU funds [...]

  • US-based Turntide to bolster UK’s renewable tech for freight industry

    June 8, 2021

    US-based renewable tech firm Turntide has confirmed it is rolling into the transport sphere this morning after buying two UK-based engineering businesses. The firm, which has patented a Smart Motor System, is launching its Turntide Transport division today, in its bid for a net zero freight and shipping industry. After buying Sunderland-based battery pack manufacturer [...]

  • UK rallies Australia to up its net zero targets ahead of G7 summit

    June 3, 2021

    The UK is rallying Australia to up its emission reduction target for the 2030s, the British high commissioner has said today, suggesting 2050 will be too late. Ahead of the UK hosted G7 meeting next week, British high commissioner Vicki Treadell said the UK was asking all attending nations to raise their interim net zero [...]

  • G7 states pumped $42bn more into oil and gas than renewables last year, analysis finds

    June 2, 2021

    Countries within the G7 have channelled $189bn into oil, coal and gas in the last year, despite promises of a green recovery, new analysis has revealed today. Ahead of the UK hosted G7 summit in Cornwall next week, the analysis has also shown that between January 2020 and March 2021, the UK, US, Canada, Italy, [...]

  • Getting the housing industry to net zero will cost at least £5bn, industry leaders say

    May 28, 2021

    In the push for a low-carbon future in the housing sector, renovating the UK’s draughty homes would cost the government £5bn over the next four years and create 100,000 jobs, industry leaders have estimated. The revamps would also cut people’s energy bills and lift tax revenue, leaders have written to ministers today, the Guardian reported [...]

  • 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 [...]

  • BoE eyes a climate-conscious corporate bond purchase scheme

    May 21, 2021

    The Bank of England (BoE) has tabled plans to make its £20bn of corporate bonds better aligned with government net zero targets today. Set to begin later this year, the bank will not immediately sell off bonds issued by businesses that have high carbon emissions, such as energy and oil firms. “Divestment is a powerful [...]

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