US doubles climate finance to $11bn as China pledges an end to overseas coal support
With less than two months to go until COP26, the world's two largest emitters - China and the US - have both announced landmark agreements that look set to bolster climate finance availability and drastically reduce the pipeline for overseas coal projects.
UK urged to set end-date for gas-fired electricity as wholesale energy prices skyrocket
With wholesale gas prices in the UK having risen by 250% since January, some green groups are calling on the Government to commit to ending gas-fired electricity generation and give more detail on plans for reducing the nation's dependence on gas for heating.
MPs call on Bank of England to improve green finance approaches
MPs across all political parties have jointly written to the Bank of England, warning that it is failing to appropriately support the green economy by not pivoting away from the fossil fuel industry.
Just one country on course to meet 1.5C target, new research warns
Only Gambia is currently on course to deliver climate action that is in alignment with the 1.5C pathway of the Paris Agreement, according to new research from Climate Action Tracker (CAT), which warns that momentum on updating climate targets has stalled.
Report: Oil and gas firms must halve production by 2030 if world is to deliver Paris Agreement
Oil and gas companies must plan for major production declines by the 2030s to meet the 1.5C target laid out in the Paris agreement, or risk losing $1trn, according to a new report.
Europe's biggest banks failing to end coal financing despite net-zero climate pledges, report finds
An analysis of how 25 of Europe's largest banks are acting on climate issues has found that fewer than half have committed to ending financing for coal activities.
Shell campaign promoting carbon offsetting is greenwashing, Dutch advertising watchdog rules
The Netherlands' advertising watchdog has urged Royal Dutch Shell to stop running a campaign promoting fuel purchases as 'carbon neutral', providing that customers purchase offsets.
UK's oil and gas sector pushes Government to back 18 new projects as Cambo row rolls on
As environmental groups and the Government's own climate advisors push for new North Sea oil and gas projects to be stopped, the sector's industry body is arguing the case for up to 18 new projects.
Fashion, finance and fossil fuels creating 'critical' water risks, CDP warns
The apparel, fossil fuel and financial services sectors are among those dealing the most damage to the world's water systems, according to a new analysis from CDP.
Report: Clean electricity accounted for record two-thirds of EU's generation mix for first half of 2021
Renewables and nuclear power accounted for a record 66% of electricity production across the EU during the first half of 2021, with clean energy proving far more resilient to the pandemic than fossil fuels.
5 ways the Hydrogen Strategy can help the UK's net-zero ambition
The UK Government has unveiled its long-awaited Hydrogen Strategy, outlining how a multi-billion-pound investment into the technology can reduce emissions and create jobs on the road to net-zero. Here, edie looks at five roles that hydrogen could play in delivering rapid decarbonisation.
Blue hydrogen could produce more emissions than burning natural gas, academic study finds
Scientists are warning that 'blue' hydrogen, which is produced by splitting natural gas and capturing process emissions, could generate 20% more emissions over its life-cycle than burning the natural gas in the first instance.
Facebook accused of failing to tackle misleading climate claims from fossil fuel majors
Oil and gas businesses and lobby groups collectively spent almost $9.6m on Facebook advertising in 2020, a new report has revealed, with the majority of these adverts either containing misleading information or promoting initiatives which are not aligned with climate science.
UK's fossil fuel generation reached a record low in 2020, as renewables reached new heights
The UK Government has released new data on energy generation and consumption during 2020, revealing that fossil fuel generation plummeted to new lows as demand dipped due to Covid-19 restrictions affecting the transport sector.
Glenfiddich to power delivery trucks with onsite biogas fuelling stations
Scotch whisky brand Glenfiddich has introduced fuelling stations at a distillery in Scotland to enable parts of its fleet to run on biogas made from the residues of its own distilling process.
Scottish Widows 'reboots' £250m environment fund to screen against fossil fuels
Scottish Widows has launched a 'rebooted' Environmental Fund that will give six million customers the chance to invest in "great green" British businesses, while screening against exposure to fossil fuels.
EU's green hydrogen plans hailed as 'true game-changer' by industry
The European Commission boosted regulatory support for green hydrogen in its proposed overhaul of climate legislation published last week, with the renewable hydrogen coalition calling it "a true game changer" for the nascent EU industry.
How the world can reach net-zero emissions by 2050, according to BloombergNEF
BloombergNEF has published its latest New Energy Outlook report, examining three progress pathways to reach net-zero globally by 2050. Here, edie summaries what will need to change to deliver this low-carbon trajectory.
Report: Oil and gas companies set to eat up 80% of global carbon budget
The oil and gas sector is set to burn through some 80% of the total global carbon budget the world will need to stick to if the Paris Agreement's 1.5C trajectory is to be realised, a major new report has revealed.
G20 nations have funnelled $3.3trn into fossil fuel subsidies since 2015, BNEF reveals
G20 member countries collectively allocated subsidies topping $3.3trn to the oil, coal, gas and fossil-fuelled electricity generation sectors between 2015 and 2019 - a level incompatible with the Paris Agreement.
Shell to appeal court ruling compelling it to set more ambitious climate targets
Royal Dutch Shell has confirmed plans to appeal a court ruling ordering the energy major to set stronger targets to reduce greenhouse gas emissions.
Report: Global demand for fossil-fuel-fired electricity has peaked
After demand for fossil fuels for electricity generation peaked across developed markets in 2007, it has now peaked across developing markets as well, according to a new report.
Unilever eyes optimised enzymes in bid for fossil-fuel-free laundry products
Unilever has announced a new partnership with protein design start-up Arzeda, which will see it test new enzymes in cleaning and laundry products in order to lower their carbon footprint.
Recovery plans fall short of EU green spending goals, campaigners warn
As the European Commission starts endorsing national recovery plans submitted by EU countries, campaigners are growing concerned that the EU executive may not fully enforce the fund's green spending target.
'Votes have jumped dramatically': Why investors are pressing companies to accelerate climate action
The 2021 AGM season saw a flurry of climate-related shareholder resolutions being filed - and passed - at the world's biggest banks and fossil fuel majors. Here, edie interviews the architects of these resolutions to get an inside look at their development and growing success.
Report: Global fossil fuel use not yet in decline, despite renewable energy pledges
Fossil fuels accounted for some 80% of global final energy consumption in 2019, the same share of the energy mix as a decade ago, a major new report has revealed.
G7 nations failing to align major stock indexes with climate commitments, report reveals
None of the largest stock indexes operating in G7 nations are aligned with either of the Paris Agreement on climate change's two pathways, according to new research out today (10 June).
Study: World set to hit 'peak oil' by 2030 as energy majors shift to renewables
The world's largest oil and gas companies increased investment in clean energy by 34% in 2020, despite a 6% fall in global energy demand caused by the coronavirus pandemic, according to new research.
UK urged to end new oil and gas licencing as Extinction Rebellion protestors target BP
More than 50 environmental charities and campaign groups are urging the UK Government to ban new oil and gas licencing either at the G7 Summit this month, or ahead of COP26 in November.
Shareholders pass vote for HSBC to phase-out global coal financing by 2040
Shareholders of HSBC have today passed a proposed management resolution that commits the bank to phase-out financing for the coal industry by 2040 worldwide, following successful campaigning from investors.
Climate activists appointed to ExxonMobil board as Chevron shareholders back stronger emissions goals
Shareholder motions filed by climate activists have passed at US fossil fuel giants ExxonMobil and Chevron, with disgruntled investors clearly keen to see more ambitious emissions reduction targets.
Dutch court orders Shell to strengthen carbon reduction targets
A Dutch court has ordered a groundbreaking ruling for Royal Dutch Shell to raise its commitments to carbon reduction, in what could mark the first of many legal cases against energy firms on climate grounds.
Shell shareholders vote against climate activists' net-zero plans
Royal Dutch Shell received overwhelming backing for its own energy transition strategy at its AGM today (18 May), but a shareholder resolution that would have forced accelerated climate action did not pass.
Beyond retail: Banks and fossil fuel giants urged to face role in plastic pollution crisis
Just 20 businesses are responsible for half of the world's single-use plastic waste, with fossil fuel majors including ExxonMobil and Total among the worst offenders, a new study has revealed.
'Care for creation': Fossil fuel divestment promised by dozens of major faith institutions
The Church in Wales, Diocese of Bristol and Diocese of Oxford are among a group of 36 faith institutions to have jointly committed to divesting from fossil fuels, stating that they have a moral imperative to help combat the climate crisis.
edie kicks off new COP26 Primer report series with Clean Energy focus
As part of the brand-new Countdown to COP26 Festival of digital content and events, edie has this week launched a series of "Primer Reports" which provide need-to-know insights into the key themes of this year's crucial climate talks. First up: Clean Energy.
'Unlawful and irrational': UK Government taken to court over oil and gas subsidies
Environmental campaigners have launched a legal challenge against the UK Government, arguing that its continued support for expanding oil and gas production in the North Sea is incompatible with its climate laws and commitment to 'levelling up'.
Consumer goods giants team up for greener chemicals drive
Unilever and Crown Paints are among the members of a new task force exploring how to make the polymers commonly used in consumer products - often based on fossil fuel derivatives - more sustainable.
Barclays shareholders reject resolution on fossil fuel phase-out
Despite continued campaigning from non-profits, activists and investors, Barclays' shareholders have rejected a proposal that would require the bank to reduce fossil fuel finance on climate grounds.
MPs accuse Treasury and HMRC of shirking climate responsibilities
The Treasury and HMRC are failing to respond to a "climate storm breaking all around us", failing to make the necessary changes to tax systems and short-term funding packages needed for the 'just' transition to net-zero.
BlackRock launches temperature-aligned investments funds
The world's largest investor BlackRock has unveiled two new temperature-based exchange funds aimed at helping investors align portfolios with the pathways of the Paris Agreement.
Global energy emissions set to rebound as Covid-19 lockdowns lift, IEA warns
Global energy demand is rebounding rapidly from the Covid-19-related slump, with fossil fuels set to play a major role in meeting this demand, the International Energy Agency (IEA) is warning.
Report: Solar and wind can meet global energy demand 100 times over
The tumbling costs of wind and solar can unlock demand that could power the world 100 times over, with a new report from think tank Carbon Tracker finding that renewables are set to push fossil fuels out of the electricity mix by the mid-2030s.
Report: China's carbon neutrality goal only achievable with major coal phase-out
If China is to meet its 2060 ambition of carbon neutrality, announced last year, it must shut hundreds of gigawatts of coal generation and reform emissions trading as a priority, a new report has revealed.
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.
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.
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.
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.
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.
'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.
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%.
'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.
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.
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.
'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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
'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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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.
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'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.
#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.
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.
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.