Environment

A decade-long effort to make the shipping industry the first to adopt binding international emissions targets has fallen apart—this time not over science or technology, but timing and cost. The breakdown leaves oil demand from marine fuels largely untouched for now, a relief to refiners and traders watching for signs …

Just a few years ago, Carbon Capture and Storage (CCS) was expected to be the saviour of the oil and gas industry, as major fossil fuel firms invested heavily in CCS activities aimed at decarbonising operations. Governments worldwide have encouraged companies to invest in CCS in recent years, funding green …

The clean energy transition is well underway around the world, at what many experts estimate to be an unstoppable velocity. While political shifts in the United States are pulling the emergency break on clean energy policy mechanisms, the international energy sector is plowing full-steam ahead. “This is no longer a …

The penalties proposed in the European Union’s climate and social responsibility legislation would be bone-crushing to any company, ExxonMobil’s chief executive Darren Woods told Bloomberg. The EU’s planned Corporate Sustainability Due Diligence Directive, which is designed to prevent adverse human rights and environmental impacts across a company’s value chains, has …

China has far outpaced the United States in clean energy spending, manufacturing, and innovation. And now, thanks to cheap and abundant Chinese solar panels and wind turbines, a growing number of emerging economies are joining the ranks of nations outpacing the United States in the clean energy transition. “To China’s …

Electricity generation from hydrocarbons in China surged to the highest in a year last month driven by record temperatures, Reuters reports, citing official Beijing data. Total generation from coal and gas rose by 4.3% last month to 602 billion kWh, as wind and solar cannot meet such swings in demand …

Brazil will hold the COP30 climate summit in November, where it is expected to lead the world in supporting a green transition. In recent years, Brazil has made greater efforts to increase its renewable energy capacity and protect the Amazon rainforest from deforestation activities. However, in the lead-up to the …

The European Commission considers allowing European Union countries more flexibility in reaching a 90% emissions cut target by 2040, diplomats told Reuters on Friday, amid growing backlash against the too stringent EU climate policies. In early July, the European Commission is set to propose a 2040 climate target that would …

Despite having invested heavily in clean energy under former President Joe Biden, the U.S. is now falling back into old habits, which is driving up its greenhouse gas emissions. Since coming into office in January, President Donald Trump has introduced a wide range of policies aimed at increasing fossil fuel …

The U.S. is proposing that the Task Force on Climate-related Financial Risks (TFCR) at the Basel Committee on Banking Supervision (BCBS) be downgraded to a working group, the Financial Times reported on Friday, citing sources briefed on the matter. The Basel Committee is the top global regulator of the banking …