Fossil fuels

DEFINITION: A natural fuel such as coal or gas that were formed from the remains of living organisms millions of years ago. Fossil fuels are non-renewable energy resources which are harmful for the environment because they release carbon dioxide when they burn.

See also: Greenhouse gas

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edie launches new business guide on net-zero carbon heating

edie has today (7 April) launched a new guide detailing everything businesses need to know and consider when looking to decarbonise heating in line with the net-zero movement.

Green groups claim the decision is against efforts to champion climate action in the build up to COP26

'Outrageous hypocrisy': Government condemned over £16bn oil and gas sector 'bailout'

Green groups have expressed their anger at the Government's new £16bn sector deal that pledges to align the oil and gas sector with the national net-zero target, while also ending financing for overseas fossil fuel projects, with many frustrated by a refusal to end oil and gas licensing.

The net-zero commitments cover business operations, digital infrastructure and the sector’s historic emissions

Crypto Climate Accord aims for 100% renewables and net-zero digital currency by 2040

A new global accord has been set up to align the swelling cryptocurrency market with the ambitions of the Paris Agreement by ensuring that blockchain and energy-intensive currency mining systems are powered by renewables and reach net-zero emissions by 2040.

UK peatlands store more than three billion tonnes of carbon

Co-op bans sale of peat-based compost to reduce emissions

Retailer Co-op has introduced a ban on peat-based compost in a bid to help customers reduce their greenhouse gas emissions footprint and reach its own carbon commitments.

A drop in energy demand and increased uptake in renewables are accountable for parts of the decline

Emissions covered by EU pricing markets fell 12% in 2020

Emissions regulated under the European Union's (EU) carbon market decreased by more than 12% last year, with the coronavirus severely limiting energy demand and industrial output.

The UK government imposed a moratorium on fracking in England in 2019. Scotland and Wales have moratoria in place against hydraulic fracturing.

Fracking ban should continue for UK to meet net-zero, CCC warns

The Climate Change Committee (CCC) has told the UK Government that restrictions on onshore fracking for shale gas must be continued until scientists have a better understanding of its full environmental impact.

The report shows how fossil fuel investments have begun to underperform, while renewable energy investments increasingly outperform

Report: Investors ditching fossil fuel stocks as value drops by billions of dollars

The value of share offerings in fossil fuel firms has plummeted by $123bn since 2012, a new report has revealed.

The 10.7% reduction is the largest proportional fall in UK greenhouse gas emissions in a single year 

Covid-19 sees carbon emissions fall 10% in 2020 as UK nears half-way mark to net-zero

The impacts of the coronavirus pandemic delivered an estimated 10.7% reduction in carbon emissions in 2020, with total greenhouse gas emissions almost 50% lower than they were in 1990, the baseline year for the UK's net-zero target.

Pictured: Oxford, UK

UK cities leading the way on net-zero and renewable energy, report finds

Almost three-quarters (73%) of the UK's urban population live in towns and cities with net-zero targets and/or strong local policies on renewable energy, compared to a global average of just 25%.

Swiss Re's UK headquarters are located within the Gherkin (pictured)

'Systematic climate approach': Swiss Re plots global coal phase-out by 2040

Insurance and reinsurance giant Swiss Re has announced new climate targets for financed emissions and pledged to stop serving the global coal sector by 2040.

Money needs to be re-aligned in order to stimulate this demand

IRENA: Existing solutions can spur progress to net-zero

Global power sourced from renewables is set to treble by 2050, with wind, solar and hydrogen all required to account for 90% of all decarbonisation solutions to push the global economy towards the 1.5C pathway, a new report from the International Renewable Energy Agency (IRENA) has found.

The resolution will be put to a vote in May at HSBC’s AGM

HSBC to vote on phase-out of fossil fuel funding

HSBC will propose a new commitment to completely phase-out financing of coal-fired power and thermal coal mines by 2040 globally, following negotiations with a group of investors with $2.4tn in assets under management.

SWR has committed to reducing the energy consumption of its building portfolio by 41% by 2024

LED retrofit reduces energy use by 21% for South Western Railway

South Western Railway (SWR) has delivered a 21% reduction in the energy consumption of its properties, following the installation of more than 16,000 LED light fittings across its properties.

Almost one-quarter of the directors analysed have a close link to the fossil fuel sector

'Climate conflict': 4 in 5 UK bank directors have connections to high-emitting corporates

An analysis of the activities of directors at the UK's biggest banks has revealed that almost 80% have close ties to corporates in industries linked to climate change and pollution - which could undermine their net-zero commitments.

The IPCC has stated that achieving the Paris Agreement's 1.5C pathway will require net global emissions to reach zero by 2050

US takes step towards 2050 net-zero target with sweeping climate bill

A wide-ranging climate bill has been introduced to the US House of Representatives this week that, if passed, will commit the nation to net-zero by 2050.

The EU's Green New Deal is meant to see the EIB becoming 'the climate bank' for the bloc

EIB spent €890m on fossil gas since phase out pledge, activists say

The European Investment Bank (EIB) has invested €890m in gas projects since it pledged to phase out investments into fossil fuels by 2022, contradicting the bank's "gas is over" narrative, activists say.

The requests reveal the pension investment trends of more than 80 UK councils

As Trinity College Cambridge divests, UK council pensions still hold £10bn in fossil fuels

Freedom of information requests by environmental campaigners have revealed that UK local government pensions held almost £10bn in fossil fuel companies last year, despite the trend towards climate emergency declarations.

The success of the transition would hinge on enabling policies and roadmaps, steered by the UK Government

UK can create 200,000 jobs through clean technology drive

The Association for Renewable Energy and Clean Technology (REA) has claimed that the UK can reach 100% renewable electricity in the next 11 years, with clean technology uptake set to create 200,000 new jobs provided the Government can deliver enabling policies.

Like many fossil fuel majors, Shell has significantly changed business plans in the wake of the IPCC's landmark report and, latterly, Covid-19

Shell reaches peak oil and emissions as it plots net-zero pathway

Shell has published an updated business strategy in light of the Covid-19 pandemic and its pledge to reach net-zero emissions, which confirms that 2019 will be its peak in terms of oil production.

The report argues that legislation is needed to stop fast fashion's negative environmental impact from spiralling 

Fast fashion: Polyester production has doubled since 2000, with huge climate implications

The production of fossil-based synthetic textiles has doubled globally within 20 years, as fast fashion production and consumption has increased. According to a new report, this will have sizeable implications for climate change.

A host of green finance experts met virtually on day one of the Sustainability Leaders Forum

Finance and policy: The external drivers forcing businesses to take climate action

Sustainability professionals have often found frustration when trying to embed CSR across an entire organisation, but the mainstreaming of Environmental, Social, and Governance (ESG) investing looks set to create new momentum behind the green recovery.

Along with Barclays, HSBC has often been the target of environmental campaigners

Survey: UK banks could lose millions of customers unless they get tougher on climate

A survey of more than 2,000 bank customers in the UK has found that more than one in ten would switch banks if they thought their choice of company was investing heavily in fossil fuels. The impact could be significant for big high-street brands, that could lose millions of customers each.

Wind output grew as coal, gas and nuclear declined

Report: Renewables overtook fossil fuels as UK's main electricity source in 2020

Renewables generated a record 42% of the UK's electricity in 2020, while fossil fuels accounted for 41% of electricity generation, according to a major new analysis.

Pictured: Solar panels on an Ikea store in Sydney, Australia 

Ikea surpasses renewable energy generation milestone after installing 920,000 solar panels

Ikea's parent company Ingka Group generated more renewable energy that it consumed last year, marking a milestone on its vision to become a "planet-positive" business.

The Biden Administration is expected to reverse more than 100 climate-related policies introduced by Trump

Biden signs flurry of executive orders on nature conservation and fossil fuels

After re-committing the US to the Paris Agreement last week, President Biden has this week signed a string of executive orders around nature conservation and minimising emissions from the energy sector.

The bank doubled its corporate bond programme in response to Covid-19. Image: George Rex, CC BY SA

Bank of England's high-carbon financing a 'moral hazard', MPs warn

The Bank of England risks creating 'moral hazard' by continuing to finance high-carbon projects and companies and providing no-strings-attached financing to carbon intensives companies, the Environmental Audit Committee (EAC) has warned.

Pictured: A CGI mock-up of the proposed plant. Image: Drax

Legal bid to stop UK from building Europe's biggest gas-fired power plant fails

The Court of Appeal has thrown out a legal challenge to the UK Government's decision to grant planning permission for Drax's major new gas-fired power plant.

Pictured: An artist's impression of the completed mine. Image: West Cumbria Mining Company 

Kwasi Kwarteng admits 'tension' between UK's new coal mine and climate ambitions

BEIS Secretary Kwasi Kwarteng has admitted that the Government's decision not to intervene with the planning process for a new coal mine in Cumbria is at odds with its domestic climate targets and the messages it wants to send as COP26 host.

The IEA is highlighting how methane leaks have environmental and financial costs - and how regulation is likely to get toucher in the near future

IEA: Oil and gas sector must 'lock in' methane emissions reductions seen amid Covid-19 lockdowns

Methane emissions from the global oil and gas industry fell 10% year-on-year in 2020, the International Energy Agency (IEA) has revealed. But the body believes this is mostly because of lockdown restrictions, rather than heightened environmental ambitions.

The net-zero ambition will be delivered through the creation of an internal “climate change taskforce” led by chief operation officer Vyacheslav Solomin

EN+ Group commits to net-zero by 2050

Aluminium and hydropower giant EN+ Group has announced its intention to become a net-zero business by 2050, with a target also in place to reduce greenhouse gas emissions by 35% by 2030.

Gas and renewables have proven more resilient to the impacts of the pandemic than oil

McKinsey: Global fossil fuel demand will peak in 2027

One of the world's largest consultancies has published analysis outlining how global fossil fuel demand could peak by 2027. Due to the Covid-19 pandemic accelerating trends in electrification and energy efficiency.

In action: the world's first fully commercial carbon capture and utilisation plant

Carbon Clean – in partnership with Tuticorin Alkali Chemicals and Fertilizers Limited (TFL) – has been operating the world’s first low-cost, industrial-scale carbon capture and utilisation (CCU) plant in India since October 2016. Take a look inside the project with this new download.

Pictured: Drax's power station in North Yorkshire, where two coal units will close later this year. Image: Drax/ A.Chadwick

UK's coal power spikes amid cold snap, despite 'greenest year on record' for electricity in 2020

Coal and gas have routinely accounted for 60% of electricity generation in Britain over the past week, sparking concerns around the nation's ability to maintain energy security in a low-carbon manner during winter weather conditions.

If the new resolution receives more than 75% of votes at the bank’s upcoming AGM in April, HSBC would be required to publish a strategy

Investors file climate resolution at HSBC

Investors with a combined $2.4trn in assets under management have filed a resolution at HSBC, calling on the bank to publish a strategy that outlines efforts to reduce exposure to fossil fuel assets.

For oil and gas firms, Scope 3 sources can account for some 80% of annual emissions on an absolute basis

ExxonMobil discloses emissions of oil and gas product use for the first time

ExxonMobil has disclosed the full extent of its Scope 3 (indirect) emissions from the final use of its energy products, which are more than Canada's national annual emissions.

marine and airborne monitor and offshore floating wind will be championed through the funding

Government commits £200m innovation fund to tackle Covid-19 and climate crisis

Computers capable of tracking diseases and a floating offshore wind test lab are just two of the technologies to benefit from a new £213m government investment pot that aims to upgrade scientific approaches to combatting Covid-19 and the climate crisis.

Environment ministers want more done to guarantee renewable production and to support local businesses in the hydrogen supply chain

Five EU countries object to bloc's latest hydrogen 'manifesto'

Austria, Denmark, Luxembourg, Portugal and Spain have issued a joint letter calling on the EU to clearly prioritise renewable energies under an EU-led project aiming to accelerate hydrogen deployment, research and infrastructure.

The UK's oil and gas sector employs 270,000+ people and pays £350m+ in taxes annually

UK's oil and gas sector outlines net-zero vision, but remains reluctant to downsize

The watchdog for the UK's oil and gas industry has published a strategy designed to align businesses with the 2050 net-zero target, but green groups want more done to cap production and increase investment in renewables.

Lloyds of London's members have previously supported projects like the Adani thermal coal mine in Australia 

Lloyds of London finally agrees to divest from coal

Insurance giant Lloyds of London has promised to end investment in coal, oil sands and fossil fuel exploration in the Arctic, following years a pressure from climate campaigners.

The Treasury reiterates that net-zero is “essential” in delivering long-term prosperity

Net-zero impact on UK economy to be 'relatively small', Treasury finds

The HM Treasury has published a final report in the build-up to a Net-Zero Spending Review, claiming that the transition to meeting the UK's long-term climate goals could deliver "slightly positive or slightly negative" economic growth for the UK, depending on how decisive policy action is.

Exxon said it would prefer to develop short-term goals than developing a long-term net-zero vision

ExxonMobil's new climate targets slammed by investors and green groups

US-based oil major ExxonMobil has outlined new emissions reduction targets through to 2025, but green groups have called them "woefully inadequate" and investors are pushing for a restructure to its board of directors.

The White Paper builds on the Ten Point Plan and National Infrastructure Strategy

Five things you need to know about the Energy White Paper

After months of delays, the UK Government finally unveiled its Energy White Paper on Monday (14 December) detailing how an overhaul to transport, energy and infrastructure will deliver an "overwhelmingly decarbonised power in the 2030s" on the road to net-zero by 2050.

The Chancellor announced in March the UKEF would receive an additional £2bn to finance clean energy projects overseas

UK Government to end support for overseas fossil fuel projects

Prime Minister Boris Johnson has confirmed that the UK Government will end financing and support for overseas fossil fuel projects in the build-up to COP26 in 2021.

CCC chair Lord Deben said many high-emitting industries will need to become "wholly different"

'A game-changer': UK's green economy leaders react to the Sixth Carbon Budget

Green groups and trade bodies have broadly welcomed the Climate Change Committee's Sixth Carbon Budget, headlined by a recommendation to cut annual emissions by 78% by 2035. But they want to see the Government act rapidly and boldly to prove it can deliver.

Pictured: Uniper's gas storage plant in Etzel, Germany

Uniper targets carbon neutrality by 2050, outlines coal-free vision

German multinational energy giant Uniper has pledged to achieve carbon neutrality across its global business by 2050, outlining new goals around coal phase-outs and green hydrogen.

The UK's oil and gas sector represents 230,000 onshore jobs and 30,000 offshore roles

Green recovery: UK urged to accelerate 'just' transition from North Sea oil and gas

With thousands of UK-based oil and gas workers on furlough and the sector's economic recovery likely to be slow, policymakers are facing calls to cap North Sea fossil fuel production and reskill communities for low-carbon industries.

The new target meets the recommendation of the Climate Change Committee 

UK to slash emissions by 68% by 2030, as part of Paris Agreement NDC

The UK Government will aim to reduce emissions by 68% by 2030, as part of a domestic action plan that will deliver the nation's contribution towards the Paris Agreement and limiting global temperature increases to well below 2C and build towards net-zero by 2050.

The report warns that failure to support the already struggling sector could result in the UK becoming a buyer, rather than supplier, of green energy and technology

North Sea energy sector requires 'urgent investment' to reach net-zero

Investment into net-zero technologies such as floating offshore wind and clean hydrogen could capture up to £125bn in annual benefits from the North Sea energy sector, but a new report has warned that jobs in the area could fall by at least 20% without incentivising policies.

The latest draft text, obtained by EURACTIV, “significantly weakens the priority given to renewable hydrogen,”

Renewable or 'low-carbon'? EU countries face off over hydrogen

EU member states are fighting over which type of hydrogen to support, with two opposing camps facing off: those backing green hydrogen produced exclusively from renewable electricity, and those in favour of a broader "low-carbon" definition, which also includes nuclear power and decarbonised gases.

Growth will be delivered by a rollout of the Vegetarian Butcher, which Unilever acquired in 2018. In addition, more vegan options for brands such as Hellmann’s, Magnum and Wall’s will be introduced

Unilever to halve food waste, sets €1bn sales target for plant-based food alternatives

Consumer goods giant Unilever has unveiled a new "future foods" strategy that will see the company commit to halving food waste, improving nutritional standards and set a €1bn sales target for plant-based meat and dairy alternatives.

Continual emissions reductions are needed to meet net-zero, but recovery from the pandemic will likely see an increase

Emissions from energy sector likely to rebound from Covid-19, Capgemini warns

Emissions from the global energy sector will be 7-8% lower in 2020 than in 2019, but most nations are still failing to align their energy generation and consumption patterns with long-term climate targets, Capgemini is warning.

The firm has made several major climate announcements since Anders Opedal took over as chief executive

Equinor sets 2050 net-zero target, says 'peak oil' is likely in 2030

Norwegian energy major Equinor has set a 2050 net-zero target, going beyond its previous commitment to reach 'near-zero' emissions for North Sea operations.

Collectively, G20 nations have allocated 33% more funding to fossil fuels than low-carbon generation since March

UK's Covid-19 recovery package for energy 'not net-zero aligned', report finds

The UK Government has earmarked £3.8bn of stimulus funding for legacy fossil fuel and nuclear generation, compared to just £121m for renewables, a damning new report has claimed.

On average, each of the 50 banks was linked $52bn in finance that is causing biodiversity loss risk

Banks and agribusiness linked to biodiversity loss

Some of the world's largest banks have been linked to industries that are causing mass deforestation and biodiversity loss, with some in the finance sector providing loans and underwriting worth more than $2.6trn to climate-wrecking initiatives.

Unilever is aiming to use at least 25% PCR by 2025 and expects to double the amount it uses over the next 12 months

Unilever expects to double use of recycled plastics in next 12 months

Unilever has confirmed that 10% of its plastic footprint now consists of post-consumer recycled plastic (PCR), as the company pushes ahead to meet a target of halving the use of virgin plastic.

The Council is additionally calling for organisations to declare support for inclusion, equality and diversity and to eliminate discrimination

WBCSD launches net-zero criteria for new and existing business members

The World Business Council for Sustainable Development (WBCSD) has launched new criteria to ensure that its business members align to science-based and net-zero targets to reduce emissions by no later than 2050.

Mike Townsend, founder and chief executive of Earthshine Group, summarises the net-zero journey

Towards net-zero: Are we really the smartest of monkeys?

Setting the scene for edie's upcoming Net-Zero November month of themed content and events, sustainable business expert and commentator Mike Townsend takes a thought-provoking look at the various drivers, challenges and opportunities that lie ahead for businesses on our pathway towards a net-zero carbon, circular economy.

The Government has responded to advice from the CCC

Government to publish 'comprehensive' net-zero strategy in build up to COP26

The UK Government has responded to the latest Committee on Climate Change (CCC) progress report, pledging to publish a "comprehensive" strategy that will detail how all parts of the economy will decarbonise in line with the national net-zero emissions target for 2050.

The European Commission and individual member countries are being urged to follow suit

Lawmakers vote to exclude fossil fuels from EU recovery fund

The environment committee in the European Parliament has voted to exclude fossil fuels from support under the EU's €750bn recovery fund intended to boost the bloc's economy in the wake of the coronavirus crisis.

The businesses are calling for targeted policies that will support and enable viable projects to commence over the next decade

Businesses and green groups call for Government to set out 'negative emissions' policy framework

The National Farmers Union (NFU), Heathrow Airport and the Renewable Energy Association (REA) are amongst the organisations that have formed the Coalition for Negative Emissions, which is this week calling on the UK Government to set an "unambiguous commitment" to carbon capture and negative emissions.

With around half of global GDP covered by net-zero targets, fossil fuel majors are under pressure to transform

Low-carbon transition: Even best-prepared fossil fuel majors 'to see half of portfolios become uncompetitive'

While European oil and gas majors are diversifying their portfolios to include more renewables, setting stricter climate targets and adjusting their oil price predictions, at least half of their operations won't be competitive in a 1.6C world, a new report claims. 

Since Covid-19 was declared a pandemic, several oil and gas majors have changed their climate and investment plans

Total to increase annual renewables investments to $3bn by 2030

French oil & gas major Total has pledged to increase its annual investments in renewables by 50% by 2030, against the $2bn allocated in 2019, as it strives to meet a 2050 net-zero target.

Pictured: A fossil fuel project in the North Sea

UK Government reps 'discussing potential COP26 sponsorship deals with oil majors'

Despite a promise to ensure that COP26's corporate sponsors are "making real contributions" to climate action, government representatives have reportedly been in discussions with some of the world's highest emitting firms, including Equinor, BP and Shell.

The University of Cambridge became the first higher education institution in the world to set science-based targets in line with the Paris Agreement's more ambitious 1.5C trajectory

Cambridge University to divest £3.5bn fund from fossil fuels as part of net-zero ambition

The University of Cambridge will divest its £3.5bn endowment fund from fossil fuels by 2030, as part of a wider plan to reduce the University's emissions to net-zero by 2038.

In 2019, Ikea sold around 300 million alkaline batteries globally

Ikea to phase-out sales of non-rechargeable batteries to cut back on waste

Ikea has confirmed that it will stop selling non-rechargeable alkaline batteries from its stores by October 2021, after lifecycle assessments found that the environmental impacts of the batteries were much higher than rechargeable alternatives.

London, like many UK cities, has set a net-zero target ahead of the 2050 deadline

London and Bristol vow to divest from fossil fuel companies as part of Covid-19 recovery plans

The mayors of 12 major global cities, including London and Bristol in the UK and Berlin, Milan and Oslo in Europe, have committed to "take all possible steps" to divest their city assets from fossil fuel companies.

China accounts for 28% of the world's emissions and almost 10% of global GDP

China's carbon-neutral target for 2060: What does it mean for global climate action?

The world's largest emitting country, China, has pledged to carbon neutrality by 2060, in a surprising yet welcome move that will boost global negotiations on climate action ahead of next year's COP26 summit.

PepsiCo currently powers facilities using a mix of renewable electricity of 18 countries, of which 9 are accounted for by 100% renewable electricity

PepsiCo targets 100% renewable electricity globally

PepsiCo has confirmed it has joined the Climate Group's RE100 initiative, pledging to source 100% renewable electricity across its operations by 2030, a move that could reduce the manufacturing giant's carbon footprint by 2.5 million tonnes.

Walmart has also pledged to protect, manage or restore at least 50 million acres of land and one million square miles of ocean by 2030

Walmart targets zero emissions by 2040, won't rely on offsetting

US retail giant Walmart has committed to becoming a zero emissions business by 2040 by pledging to become carbon neutral across its global operations without relying on carbon offsets.

#SustyTalk: Lloyds Banking Group's James Wilde on financing the green recovery

edie's #SustyTalk interview series continues with Lloyds Banking Group's head of sustainability James Wilde taking part in a virtual discussion on financing the green recovery, as well as providing an update on the bank's efforts to halve its emissions.

The targets have now been approved by the SBTi as consistent with levels required to meet the climate goals of the Paris Agreement

Tate & Lyle has carbon goals approve by Science Based Targets initiative

Food and drink ingredient supplier Tate & Lyle has had goals to reduce operational and value chain emissions approved by the Science Based Targets initiative (SBTi).

Arup’s net-zero target arrives alongside UK engineering manufacturer Spirax-Sarco’s own net-zero ambition

Arup, Spirax-Sarco and Bolt outline ambitious climate targets

Engineering firms Arup and Spirax-Sarco Engineering have unveiled new net-zero carbon targets, with Arup targeting net-zero emissions by 2030 and Spirax-Sarco aiming for 2040, while mobility platform Bolt aims to become carbon negative by the end of the year.

BT has a net-zero emissions goal set for 2045

BT joins calls to accelerate climate action through 1.5C Business Playbook

BT has joined the likes of Ikea and Ericsson in supporting the 1.5C Business Playbook, calling for renewed efforts from corporates and policymakers to halve emissions by 2030 as part of a "race to zero".

Unilever has pledged to transition to more sustainable sources of carbon, in line with its 2039 net-zero commitment

Unilever's Persil switches to bio-based formula and recycled plastic bottles

Unilever-owned cleaning brand Persil has launched a new liquid formulation made from plant-based stain removers and biodegradable ingredients that will be packaged in fully recyclable bottles made from 50% post-consumer recycled plastic.

Sharma was quizzed on the UK's roads programme, green buildings grants and COP26 preparations 

Alok Sharma promises 'joined-up thinking' on net-zero policy, but examples remain scarce

Business Secretary Alok Sharma delivered rhetoric that the Government will approach the net-zero emissions commitment for 2050 through a "joined-up thinking" approach, but was unable to confirm any concrete policy announcements that would ensure fossil fuels aren't locked into the future economy.

The UK's oil and gas sector employs 270,000+ people and pays £350m+ in taxes annually

BEIS to review whether UK's oil and gas licencing regime is net-zero compatible

The Department for Business, Energy and Industrial Strategy (BEIS) will review whether its plans for the future oil and gas licencing regime are "aligned with tackling climate change" and compatible with the UK's 2050 net-zero target.

The virgin plastics industry is described in the report as a 'bloated behemoth' which is primed for disruption

Report: World could reach peak plastic production in 2027, risking billions of dollars for oil majors

Global oil majors are planning to invest $400bn in virgin plastic production within five years - but much of this investment is at risk as governments beef up plastics and climate targets, and as consumers continue to push for plastic-free products.

The emissions footprint of Unilever's laundry and cleaning products will be cut by 20% as a result of the changes.

Clean Future: Unilever to remove fossil-fuel-based carbon from cleaning products by 2030

Unilever has unveiled plans to replace 100% of the carbon derived from fossil fuels in its cleaning and laundry products with captured, natural and recycled carbon within a decade.

The supply chain can account for more than 90% of a company's environmental footprint

Scope 3 and the supply chain: How businesses are taking sustainability leadership to a new frontier

Not too long ago, sustainable leadership was defined by those 'getting their own house in order' through emissions reductions, but as the pace required to reduce emissions grows, so too does the efforts from businesses to assist the supply chain in decarbonising. Here, edie looks at some of the transformational ways businesses are engaging with suppliers.

Credit Suisse's previous sustainable finance mechanisms have been tailored towards the Sustainable Development Goals

Credit Suisse cuts fossil fuel lending as part of £250bn green finance promise

Swiss investment bank Credit Suisse has unveiled plans to provide more than £250bn in financing geared towards green bonds and the low-carbon economy over the next decade, as well as pledging to limit financing to the oil and gas sector.

Onshore and offshore wind each accounted for 10% of total domestic generation, the figures show. Pictured: Scout Moor wind farm

UK broke renewable energy generation record in 2019, latest BEIS figures show

The Department for Business, Energy and Industrial Strategy (BEIS) has published its latest annual energy statistics, revealing that a record 37.1% of the electricity generated in the UK in 2019 was renewable.

Nest has more than nine million members

UK's largest pension scheme charts pathway to net-zero

The Government-backed National Employment Savings Trust (Nest) scheme is set to begin divesting from fossil fuel projects immediately, as part of a new roadmap designed to ensure its operations are aligned with the UK's net-zero target.

The largest contributor to unconditional fossil fuel financing is the US

G20 nations funnel $151bn of Covid-19 recovery funding into fossil fuels

Of the Covid-19 recovery funding allocated to energy companies by G20 governments, 56% has been handed to fossil fuel projects, equivalent to $151bn (£119bn).

The fossil fuel lobby has been the most active of any sector since March

Report: Governments are bowing to fossil fuel lobbying in Covid-19 recovery planning

Almost two-thirds of the interventions which fossil fuel lobbyists made in policymaking between March and June were successful, new analysis has revealed.

Of the collective electricity generation capacity if the cohort, 60% is attributable to fossil fuel assets. Image: WBA

WBA: Less than 10% of electric utilities are taking Paris-Agreement-aligned climate action

Analysis of the decarbonisation ambitions and actions of 50 of the world's largest electric utilities companies has revealed that less than one in ten have fully aligned their business models with the Paris Agreement, despite the fact that the sector must 'enable' the global low-carbon transition.

The oil & gas sector is among the worst-affected by the impacts of Covid-19. Image: Royal Dutch Shell

Shell predicts $22bn hit for oil and gas assets as BP sells petrochemicals arm

Shell has unveiled plans to underwrite the value of its oil and gas portfolio by up to $22bn (£17.7bn) due to the energy demand slump caused by Covid-19, in the same week that BP has struck a $5bn (£4bn) deal to sell off its petrochemicals business.

The company has also committed to sourcing 100% renewable electricity 

Barratt Developments sets net-zero target for 2040

The UK's largest housebuilder, Barratt Developments, has built on recently announced science-based targets by committing to achieving net-zero greenhouse gas emissions by 2040.

The roadmap details a mix of solutions, including electrification, energy efficiency, reducing flaring and offsetting

UK's offshore oil and gas industry vows to halve operational emissions by 2030

The industry body for offshore oil and gas in the UK has published plans for halving emissions from production and exploration within a decade, but green groups say there must also be stronger accountability for indirect emissions.

Pictured: One of BP's ofshore platforms in Trinidad & Tobego. Image: BP

BP forecasts $17.5bn assets hit, accelerates strategy restructure to prioritise renewables

BP is preparing to reduce the value of its assets by between $13bn (£10.4bn) and $17.5bn (£14bn) over the next three months and says the impacts of the Covid-19 will spur its transition to low-carbon energy.

Under Theresa May, the Government broadly rejected recommendations from MPs for decarbonising the UKEF portfolio.

UK Government mulling ban on overseas fossil fuel financing, reports

Ministers are reportedly considering moves to ban the UK Government's direct lending facility from financing any new or existing fossil fuel projects overseas, following a series of high-profile exposés.

Pictured: The Cottam coal power station, which closed permanently in October 2019. Image: EDF

Britain goes 60 days without coal-fired power generation

As of midnight today (10 June), Britain has had no coal-fired power generation on its grid for a full two months - the longest period since the Industrial Revolution.

Solar panel installation, Tetra Pak site. Image: Tetra Pak

Tetra Pak targets net-zero value chain by 2050

Packaging firm Tetra Pak has today (11 June) committed to reaching net-zero greenhouse gas (GHG) emissions across its operations by 2030, with a longer-term target to achieve a net-zero emissions value chain by 2050.

Heat accounts for more than a third of the UK’s greenhouse gas emissions

Heat Networks Industry Council set up to spur zero-carbon networks and job growth

Organisations overseeing the UK's heat networks and industry have created a new Council that will oversee plans to drive up to £50bn in investment into the sector to create 35,000 new jobs and deliver zero-carbon heat networks.

Carbon Tracker warns that any oil or gas producers attempting to revert to “business as usual” could be risking in excess of $100trn in potential profits

Fossil fuel profits set to collapse by two-thirds

The global market value of fossil fuels is set to collapse by almost two-thirds, creating heightened economic risk for companies, financial markets and countries failing to embrace new low-carbon technology.

The built environment accounts for nearly 40% of global emissions

Number of organisations committed to net-zero buildings doubles in one year

The number of companies, cities, states and regions committed to delivering zero-carbon buildings has more than doubled in year, according to new findings from the World Green Building Council (WorldGBC) that confirms that 95 signatories are working towards its Net-Zero Carbon Buildings Commitment.

The decision was agreed following consultation with 600 people, including staff members, students and alumni

University of Manchester targets net-zero investment portfolio

The University of Manchester has announced a new commitment to end investments into fossil fuel projects and organisations by 2022, in line to creating a net-zero investment portfolio by 2038 at the latest.

Glasgow was announced as the host city for COP26

Boris Johnson confirms new COP26 date, urges nations to focus on green recoveries

Prime Minister Boris Johnson has reiterated a desire for the UK to deliver a "sustainable" recovery from the coronavirus pandemic in a way that brings together key international nations to reach the ambitions of the Paris Agreement and the Sustainable Development Goals (SDGs).

The report estimates that lower prices, falling energy demand and increased cases of non-payments of bills will set energy revenues falling by more than $1trn in 2020

IEA: Coronavirus to cause largest ever drop in global energy investment

The world is on course to witness the largest ever drop in investment in global energy, with the coronavirus pandemic set to restrict spending across renewables, gas, fossil fuels and cleantech.

Glasgow was announced as the host city for COP26

Reports: COP26 to be delayed until November 2021

Reports have emerged that the UK Government has put forward the first two weeks of November 2021 as new proposed dates for the crucial COP26 climate conference, citing concerns over the state of international travel safety due to the coronavirus.

Ofgem is due to make a decision on gas network investment in July.

UK's gas networks call for £900m investment into zero-carbon infrastructure

Britain's five gas networks companies have today outlined plans to spend more than £900m on zero-carbon energy infrastructure and hydrogen deployment across the UK, subject to Government approval on funding.