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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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).
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.
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.
Copenhagen Airport spearheads green hydrogen project for transport fuel
Renewable energy company Ørsted and Copenhagen Airport are amongst the consortium of businesses aiming to develop a hydrogen and sustainable transport fuel facility in the heart of the Danish capital.
World health groups call for green coronavirus recovery
A coalition of global healthcare organisations, backed by more than 40 million healthcare professionals, have coordinated a written plea to governments to deliver health-based and climate-focused economic recoveries from the coronavirus pandemic.
World's largest hydrogen plant and UK's Gigafactory: The sustainability success stories of the week
As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.
Report: Renewables to account for three-quarters of UK's power demand by 2050
The UK could source 76% of its power demand from renewables by 2050, according to a new report from RenewableUK which claims that the nation's net-zero target will spur rapid demand for green hydrogen while attracting more than £50bn to an already world-leading offshore wind sector.
Europe's draft 'green recovery' plan leaked
The European Commission's promised green recovery plan will focus on building renovation, renewables and hydrogen as well as clean mobility and the circular economy, according to a leaked working document obtained by EURACTIV.
Lockdown sees global emissions fall by 17%
New research has suggested that daily global carbon emissions recorded in April 2020 were 17% lower compared to the same month last year, largely due to the coronavirus pandemic and forced lockdowns and postponement in production.
Business giants call for science-based green economic recovery
More than 150 business giants, including Carlsberg, H&M and Pernod Ricard, with a combined market capitalisation of more than $2.4trn, have signed a joint statement calling on all governments to align coronavirus economic responses to climate science.
Chief value officers and ESG investors: What could green finance look like in the new normal?
Whatever the new normal looks like once nations have battled their way through the coronavirus, the recent rhetoric around green finance suggests that both internally externally, the value of sustainability to a business is set to grow.
Business leaders call for recovery packages to be tied to net-zero corporate targets
The chief executives from 40 global organisations including BP, Heathrow Airport, Shell and HSBC, have called on governments to focus economic recovery packages in ways that enable sectors and businesses to transition to low-carbon and resilient models of operation.
Oxford University to divest from fossil fuels and align to net-zero strategies
Oxford University has announced that is divesting its remaining investments away from fossil fuel companies and how its fund management service can engage with organisations that showcase net-zero business plans.
NGOs call on investors to respond to coronavirus pandemic through net-zero transition packages
A collection of NGOs have written to some of the world's largest insurers, calling on them to address economic responses to the coronavirus outbreak in ways that are aligned with the urgent need to combat the climate crisis and steer the global economy towards a net-zero future.
Messages of hope: How world leaders are rallying for a green Covid-19 recovery
The two-day Petersberg Climate Dialogue finished yesterday evening, with ministerial leaders from the UK, Germany, the EU and the UN all delivering rallying cries for nations to focus on climate mitigation as part of any efforts to stimulate the economic downturned caused by the coronavirus outbreak.
Barclays and HSBC blasted over £158bn fossil fuel financing
Banking giants Barclays and HSBC have been accused of financing a combined £158bn into the fossil fuel sector since the signing of the Paris Agreement in 2015, despite both organisations pledging to ramp up sustainable investment portfolios.
Airlines, automakers and fossil fuel firms blasted as 'coronavirus climate profiteers'
A new report has blasted the lobbying efforts of the airline, automaker, fossil fuel and logging industries, claiming that organisations are attempting to benefit from billion-pound bailouts in response to the coronavirus that enables them to carry on with climate-wrecking business practices.
Can you eliminate plastic in the workplace?
Back in 2017, WWF-UK pledged to eliminate all unnecessary single-use plastic throughout the organisation. Environmental Manager Lauren Wiseman explains how this year, that target was achieved.
Net-zero: Is the UK's gas grid ready to go green?
In a week where plans were unveiled for a nationwide roll-out of farming greenhouses heated by wastewater, the UK's major gas operators have teamed up to launch a programme aimed at delivering the world's first zero-carbon gas grid.
Carbon emissions from fossil fuels could fall by 2.5bn tonnes in 2020
Global carbon emissions from the fossil fuel industry could fall by a record 2.5bn tonnes this year, a reduction of 5%, as the coronavirus pandemic triggers the biggest drop in demand for fossil fuels on record.
Nations risking 'uneconomic' coronavirus responses by prioritising coal, report warns
China, the US, India and European nations are at risk of being burdened with uneconomic, long-term plans to stimulate their economies in response to the coronavirus outbreak by focusing on new coal capacity, a new study from Carbon Tracker warns.
New renewable energy capacity hit record levels in 2019
Almost three-quarters of new electricity generation capacity built in 2019 uses renewable energy, representing an all-time record. New data from the International Renewable Energy Agency (Irena) shows solar, wind and other green technologies now provide more than one-third of the world's power, marking another record.
US clears Exxon and Chevron to dismiss shareholder climate reporting requests
The US Securities and Exchange Commission (SEC) has approved requests from both Exxon and Chevron to reject shareholder proposals that have called on the oil and gas giants to report on how the companies are addressing climate change by aligning to the Paris Agreement.
MP's pension fund still investing in fossil fuels
MPs have yet again called for the trustees of the Parliamentary Pension Fund to divest from fossil fuel companies Royal Dutch Shell and BP, having finally integrated investment into renewables into the fund.
Global banks 'failing miserably' on climate crisis by funneling trillions into fossil fuels, study finds
The world's largest investment banks have funnelled more than £2.2tn ($2.66tn) into fossil fuels since the Paris agreement, new figures show, prompting warnings they are failing to respond to the climate crisis.
UK Export Finance accused of climate 'hypocrisy' over funding
Updated: In the same week that the UK Export Finance’s (UKEF) direct lending facility has allocated more than £2bn for clean growth projects a global NGO has accused the government body of “rank hypocrisy” for breaching OECD guidelines by supporting overseas fossil fuel projects.