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Morgan Stanley commits to net-zero financed emissions by 2050
Global banking firm Morgan Stanley has unveiled a new commitment to reach net-zero financed emissions by 2050, while new research reveals that while almost half of the FTSE 100 companies have net-zero commitments in place, they don't yet have detailed strategies to reach these goals.
Two weeks left to register: edie's next masterclass on energy data and the road to net-zero
edie's next masterclass will take place on Tuesday 6 October and will explore how businesses can improve energy data monitoring and measurement and how this can assist with the wider net-zero transition.
Carbon capture and EVs: Amazon unveils first beneficiaries of $2bn climate fund
Amazon has announced the first beneficiaries of its $2bn Climate Pledge Fund, with organisations developing carbon removal technologies, nature-based carbon markets and electric vehicle (EV) innovations set to benefit.
Uber commits to becoming zero-emissions mobility platform by 2040
Uber has announced its intention to become a zero-emissions mobility platform by 2040, with all journeys to be completed via zero-emission vehicles, public transit and bespoke micro-mobility devices.
Government urged to ramp up hydrogen spending through national strategy
The Environmental Audit Committee (EAC) had called on the Government to implement a Hydrogen Strategy to assist in decarbonising carbon-intensive sectors, in the same week that the National Grid announced plans to build a new hydrogen testing facility.
Capgemini targets net-zero operations and supply chain by 2030
IT services and consultancy firm Capgemini has pledged to achieve carbon-neutral operations by 2025 and full net-zero alignment by 2030, after meeting one of its key emissions targets a decade ahead of schedule.
Bankers for Net-Zero: Banks sign up to steer UK green recovery
Barclays and Triodos are amongst the first five banks to sign up to a new commitment exploring how the banking sector can fund the net-zero transition to deliver a green recovery in the UK.
M&G Real Estate sets out net-zero commitment
M&G Real Estate has unveiled new carbon reduction targets, committing to reaching net-zero emissions across its operations by 2030 and its real estate portfolio by 2050, in line with the Government's net-zero target.
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.
Government blocks Vattenfall's offshore windfarm expansion
The Government has refused to grant development consent for Vattenfall's 340MW windfarm extension off the coast of Kent, and has delayed two other planning decisions in the South East, in the same week that Total acquired a 51% stake in the £3bn Seagreen project in the Scottish North Sea.
UK business giants call for national green recovery tied to net-zero
More than 200 UK businesses and investors, including Sky, Lloyds Bank and Asda, have called on Prime Minister Boris Johnson to deliver a green recovery plan from the coronavirus pandemic that builds a stronger and more inclusive economy.
Electric flights and Barilla's recyclable packaging: 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.
Vattenfall agrees to 8MW district heating scheme in Barnet
Vattenfall Heat UK will deliver an 8MW districting heating system to heat homes, schools and businesses in Barnet, with a view to removing all carbon-emitting sources from the system.
Government taskforce sets out tools to unlock £65bn investment into green housing
The UK Government's Green Finance Institute (GFI) has found that scaling up green retrofitting of the UK's existing housing stock would require investments of up to £65bn while supporting the economic recovery, as the Green Alliance calls for policy amendments to retrofitting in the UK.
EU's climate strategy can spur 'just' and resilient labour market
On the eve of the release of the EU's recovery strategy, a group of business leaders have called for the bloc's climate-neutral target to be coupled with a "just transition" that could deliver job growth against future climate, demographic and technological megatrends.
Businesses provide NHS workers with renewably powered smartphone chargers
A new initiative has been set up to provide more than 850 pre-charged power banks using 100% renewable energy to help NHS workers charge smartphones and stay connected during shifts on the Covid-19 frontline.
Google's green software and New York's innovation drive: 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.
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.
Refinitiv, JLL and Ball unveil 1.5C science-based carbon commitments
Refinitiv has committed to setting science-based targets to reduce emissions in alignment with the Paris Agreement, while manufacturer Ball and real estate firm JLL have confirmed that their targets have been approved by the Science Based Targets initiative (SBTi).
Oxford City Council adds electric vehicles to fleet as part of net-zero journey
Oxford City Council has had its first batch of electric vehicles (EVs) issued as both the council and the city gear up to deliver an "energy superhub" as part of a net-zero emissions trajectory.
CCC boss: Green and resilient economic recovery can push UK towards net-zero target
EXCLUSIVE: The Committee on Climate Change's (CCC) chief executive Chris Stark believes the UK Government should prioritise a green and resilient economic recovery from the coronavirus pandemic that doesn't lock in fossil fuels and puts the nation on an upwards trajectory towards a socially just net-zero transformation.
Number of UK sustainability professionals climbs by 12%, according to LinkedIn
The UK has been listed as one of the global leaders for green job growth, with new analysis from LinkedIn revealing an increase in UK sustainability professionals of 12%, almost double the global average.
First funding phase approved for Humber net-zero industrial cluster
Plans to develop the world's first zero-carbon industrial cluster in the Humber region have been boosted after leading energy companies joined an existing consortium of project partners in the same week that Government funding was secured for the project.
BlackRock's SDG fund and HP's ocean-plastic drive: 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.
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.
Mitie to double energy productivity through EP100 initiative
British facilities management (FM) firm Mitie has built on its net-zero emissions target set for 2025 by joining the Climate Group's EP100 initiative to double its energy productivity.
Net-zero by 2030: Decarbonisation plans presented to Exeter City Council
A plan detailing how the city of Exeter can achieve net-zero emissions through reduced energy consumption, renewables uptake and the promoting of healthy living have been presented to the city council for approval.
Ed Miliband named as BEIS Shadow Secretary
Former Labour leader Ed Miliband has made a return to front-bench politics after being named by the party's new leader Keir Starmer as the Shadow Secretary of State for Business, Energy, and Industrial Strategy (BEIS), giving him a key role in lobbying for green policy.
In charts: How coronavirus is impacting sustainability professionals across the UK
EXCLUSIVE: An edie survey of more than 100 sustainability professionals across the country has revealed exactly how the global pandemic of Covid-19 has impacted day-to-day working for those leading the CSR agenda for their organisations. Here are the results...
Keir Starmer: Exploring the green policy views of the new Labour leader
Months after the party's worst electoral performance in almost a century, the Labour party has elected Keir Starmer as its new leader, with the MP for Holborn and St Pancras ready to promote his vision of a socially just low-carbon transition.
Polluters see coronavirus as chance to lobby against climate policies
Corporate lobbying groups have been accused of “taking advantage” of the chaos caused by the coronavirus outbreak, with oil and gas groups and automotive coalitions found to have been calling for relaxed or postponed environmental regulations as response mechanisms to the virus.
Hackney Council powered by 100% renewable electricity
Hackney Council is now sourcing 100% of its electricity demand from renewables, with the council accelerating towards a goal to reach net-zero emissions by 2040.
Severn Trent to make entire transport fleet electric by 2030
The UK's second-biggest water company has joined the Climate Group's EV100 initiative, pledging to convert 100% of its transport fleet to electric vehicles (EVs) by 2030.
A 'sensible step' and 'opportunity to rebuild': Green economy reacts to COP26 postponement
Green groups have expressed disappointment but understanding that the COP26 climate summit scheduled for Glasgow in November has been postponed until 2021, with many citing the opportunity for countries to accelerate climate action in the meantime.
'Normal was a crisis': Why the Green New Deal is the perfect response for the post-Covid-19 economy
As the economy and society continue to suffer from the impacts of the coronavirus, experts are already exploring how to stimulate a financial recovery. All roads could lead to a Green New Deal, but the green economy will need a clear and concise voice to push policy towards it.
Calls for Government to secure biomass pipeline during coronavirus outbreak
Associations from the UK's biomass fuel supply chain have called for the UK Government to ensure the sector can continue to deliver low-carbon heating to households and business facilities that are still open and under increased pressure due to the coronavirus outbreak.
SMEs and households to benefit from energy efficiency clean technology trials
The UK Government has backed a new digital energy efficiency platform for SMEs to receive automated advice to save energy, in the same week that a smart homes project that uses AI technology on hot water systems to generate storage capacity and manage grid demand commenced.
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.
Coronavirus: Now is not the time for environmental grandstanding
The Covid-19 pandemic should urge us to couple environmental and social sustainability, not pit them against each other, edie's senior reporter Sarah George argues.
Heavy-emitting firms 'off-track' to deliver low-carbon world
More than 80% of the highest-emitting listed companies are failing to deliver emissions reductions aligned to the Paris Agreement's 2C global warming limit, with many companies also failing to account for climate mitigation and risk strategies.
Upskilling roadmap set up to decarbonise North West industrial cluster
An energy and hydrogen cluster set to be developed in the North West has pledged to create a roadmap to combat existing skills gaps for the low-carbon transition, as part of wider government plans to fully decarbonise industrial clusters in the UK.
Coronavirus vs. climate change and COP26: What happens next?
The coronavirus pandemic has brought the global economy to a standstill, with some now doubting whether the crucial climate talks scheduled for COP26 will be able to go ahead. So, asks Matt Mace, what impact would delaying the summit have on international efforts to combat the climate crisis?
Total launches France's largest energy storage project as new global battery company emerges
French energy firm Total has confirmed it will be developing France's largest energy storage system, while UK-based redT energy has announced plans to merge with a US battery company to drive global demand for heavy-duty battery technology.
Chanel sets 1.5C science-based targets, pledges 100% renewable energy
Luxury fashion and fragrance giant Chanel has committed to halve its carbon emissions by 2030, under a new 1.5C-aligned set of sustainability targets.
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.
Triodos Bank joins Tesco in funding Pod Point's EV charging rollout
Ethical finance firm Triodos Bank has joined Tesco and Volkswagen in providing funding to Pod Point to accelerate access to electric vehicle (EV) charging points across the UK, including 600 supermarket locations.
Houses and businesses connect to low-carbon heating network in Leeds
Households and businesses in Leeds are set to benefit from reduced energy bills and carbon emissions after being connected to a £36m district heating network that connects to the city's Recycling and Energy Recovery Facility (RERF).
Net-zero cities: Leeds's mission to be carbon neutral by 2030
edie's new mini-series exploring how local authorities are collaborating with businesses to actuate community-centred sustainability schemes on the road to net-zero emissions continues, this time exploring how Leeds plans to become a net-zero city by 2030.
Carbon tax rises 'could fund energy efficiency drive'
The government could siphon off a large chunk of the revenues from increased carbon prices to improve the energy efficiency of fuel poor households, according to a new report from the London School of Economics' Grantham Institute.
Meat sector 'facing ruin' as climate change set to cripple earnings
The increased impacts of climate change coupled with rapid growth of alternative proteins will put "billions of dollars at risk" in the meat sector, as a new study warns that companies are failing to disclose climate-related data or examine how they would perform based on numerous climate pathways.
Clean transport, CCS and biodiversity championed in Budget 2020
BREAKING: Chancellor Rishi Sunak has today (11 March) unveiled a multi-billion-pound package to push the UK towards the net-zero emissions target in his first Budget - but has faced criticism for failing to end fuel duty freezes or cut roads spending.
Everything you need to know about the EU's new Circular Economy Action Plan and Industrial Strategy
The European Commission has today (11 March) unveiled its Circular Economy Action Plan, a sweeping set of commitments aimed at ensuring that circularity and resources efficiency acts as a "prerequisite for climate neutrality" in line with the European Green Deal and Industrial Strategy.
Liverpool City Council unveils biogas-powered refuse trucks
Liverpool City Council has commissioned a fleet of refuse collection trucks to operate within the city that will be powered by low-carbon biogas.
UK's net-zero target possible with 'unprecedented' low-carbon innovation
Reaching net-zero emissions in the UK by 2050 is possible but would require "unprecedented innovation across the economy" that could see electricity generation triple, hydrogen generation grow exponentially and land use to be radically overhauled across the country.
Comprehensive net-zero strategy could increase UK green jobs by 85%
The UK Government can deliver an 85% increase in renewable and clean technology jobs in a decade by implementing better taxation systems and outlining a roadmap for net-zero emissions, a new report from the REA has found.
Cadent Gas launches UK's first 'transition bond' to spur decarbonisation
The UK's largest gas distribution network, Cadent, has agreed to the UK's first 'transition bond' which has been issued to enable heavy-carbon emitters to access funds to decarbonise.
Corporate leaders want decarbonisation as central focus for Europe's Industrial Strategy
Business giants including Unilever, Interface, and Coca-Cola have called for the new European Industrial Strategy to focus heavily on decarbonisation in a way that sets out clear strategies for investment into low-carbon solutions and provides price incentives for new goods and services.
Waste heat from London Underground to warm homes in Islington
More than 1,350 homes, a school and two leisure centres in Islington are to benefit from a new energy centre that is harnessing waste heat from the London Underground tube network.
Government urged (again) to revamp low-carbon homes plan
The Government has yet again been urged to reconsider proposed approaches to energy efficiency in housebuilding, after a coalition of councils urged Ministers to remove restrictions that would inhibit higher standards being set.
Ball Corporation achieves ASI certification and meets 100% renewables target
Aluminium packaging manufacturer Ball Corporation has been certified to Aluminium Stewardship Initiative (ASI) standards for environmental, social and governance impacts, while also revealing it is powering its operations in the UK, European Union (EU) and Serbia with 100% renewable electricity.
E10 petrol, hydrogen and biomethane: Is the UK on the cusp of low-carbon heat and transport?
As the UK Government consults on a low-carbon fuel mix for petrol stations, two industry associations have called for refined government policy to enable the uptake of hydrogen and biomethane use to help decarbonise heat and transport.
Businesses urged to capture £6bn energy savings as SECR requirements loom
Businesses have been urged by the UK Government to accelerate efforts to improve energy efficiency in order to cut corporate energy use by 20%, saving £6bn in the process, ahead of the new Streamlined Energy & Carbon Reporting requirements (SECR) that are set to enter into force.
The Heathrow domino: Is Government nearing the promised land of joined-up climate policy?
The Government has long been urged to approach climate change through the lens of coherent, joined-up thinking and during a 'year of climate action' in the UK the first Heathrow-shaped domino may just have fallen to kickstart a new approach to climate policy.
Oil and gas giants sign up to Teesside net-zero carbon capture project
BP, Eni, Equinor, Shell and Total have all signed up to spearhead the development of the Net-Zero Teesside project that aims to develop the UK's first decarbonised industrial cluster through the use of carbon capture, utilisation and storage technology (CCUS).
UK Government hints at RHI extension
Energy and Clean Growth minister Kwasi Kwarteng has claimed the Government is "absolutely committed" to exploring new support mechanisms for low-carbon heat in the UK once the Renewable Heat Incentive (RHI) expires in March 2021.
Low-carbon generation edges past 50% share of UK's power demand
New statistics from the Department for Business, Energy and Industrial Strategy (BEIS) have confirmed that low-carbon generation accounted for more than 51% of the electricity supplied in the UK in 2019, a 2% growth on 2018 levels.
Gloucestershire police force adds 75 EVs to its fleet
Gloucestershire Constabulary is set to add 75 electric vehicles (EVs) to its fleet over the next few weeks, meaning that more than 20% of the force's entire fleet will be fully electric.
Drax to end coal generation in 2021
Drax has announced plans to end commercial coal generation at its coal-fired power station in North Yorkshire in 2021 - ahead of the UK's 2025 deadline - in a move expected to cost up to £35m and lead to job reductions off at least 200.
Energy companies trial 'heat-as-a-service' to drive demand for low-carbon solutions
UK energy companies Bristol Energy and Baxi Heating have completed year-long trials funded by the Department of Business Energy and Industrial Strategy (BEIS) to explore whether offering heat as a service could drive demand for low-carbon heating solutions in the UK's domestic building stock.
Cheltenham retirement complex to slash emissions with ground source heat pumps
A retirement development in the heart of Cheltenham looks set to reduce the carbon emissions from heating by up to 75% following the installation of ground source renewable heat pump technology.
Government focuses on hydrogen in £90m industrial decarbonisation funding
The UK Government has announced £90m in funding to help cut emissions from industrial processes and the built environment, including the backing of two low-carbon hydrogen production plants.
RBS's climate goals and Aldi's plastic bag crackdown: 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.
RBS to rebrand, plans for 'climate-positive' operations by 2025
The Royal Bank of Scotland (RBS) has unveiled plans to go beyond net-zero emissions for its operations by 2025 and to at least halve the climate impact of its financial decisions and activities by 2030, as part of the organisation's rebrand to the NatWest Group.
Cabinet reshuffle: Is the promised 'green budget' in doubt?
Earlier this week Chancellor Sajid Javid was said to be reviewing a string of new subsidies to assist with the UK's net-zero transition. With Javid today (13 February) resigning from the position, doubts have been caused as to whether the UK Government can prioritise the green economy in the March Budget.
'Climate risk is financial risk': TCFD surpasses 1,000 global supporters
The Task Force on Climate-related Financial Disclosures (TCFD) has revealed that more than 1,000 organisations are supporting its recommendations, including corporates with a combined market cap of $12trn and investors with $138.8trn of assets under management collectively.
Can HS2 comply with the UK's net-zero target?
With Prime Minister Boris Johnson giving the green light to the £100bn HS2, edie examines whether the controversial high-speed rail project can align with the UK's net-zero emissions future.
Sector coupling: Electrification of transport and buildings could slash emissions by 60%
Mass-Scale electrification of the transport, buildings and industrial sectors could enable Europe to reduce greenhouse gas emissions by 60% over the next 30 years, according to a new report published today by research company BloombergNEF (BNEF).
Reports: BlackRock and Barclays to act on climate investment calls
As reports emerge that Barclays is set to agree on shareholder calls to phase-out fossil fuel investments, BlackRock has already made strides on its stance to remove fossil fuel firms from its portfolio.
10 ways business leadership will evolve during a crucial decade for sustainability
Sustainability experts and thought leaders were in attendance at edie's Sustainability Leaders Forum to outline how the role of business in a society battling social and environmental crises like never before will change.
Government's plans for low-carbon homes are 'a step backwards' on climate, London Mayor warns
London Mayor Sadiq Khan has urged Ministers to improve plans for decarbonising the UK's built environment sector, claiming that the capital and other cities are already going further and faster in the face of the climate emergency.
Lloyds Banking Group commits to net-zero fleets and 100% renewable electricity
Lloyds Banking Group has today (6 February) joined all three of The Climate Group's business sustainability initiatives, committing to source 100% renewable electricity, reach net-zero fleets and improve energy productivity.
edie's publisher Faversham House expands ClimateCare partnership to offset event travel emissions
edie's publishing company Faversham House has announced an expansion to its partnership with ClimateCare to offset all carbon emissions from speaker and delegate travel across all its events throughout 2020.
Report: Heavy industry making "slow progress" on Paris Agreement
A new study has shown there has been slow progress on climate action in high-emitting industries, with just one in five corporates operating in line with a 2C trajectory.
COP26: Boris Johnson to move diesel ban forward to 2035 and call for global net-zero transition
UK Prime Minister Boris Johnson will use the COP26 climate conference to call on other nations to follow the UK in setting a net-zero target and is also set to reveal plans to move the ban on the sale of new petrol and diesel cars forward five years to 2035 as part of a "year of climate action".
Corporate clean energy contracts grew by 40% in 2019
Corporate purchasing of clean energy contracts reached almost 20 gigawatts (GW) in 2019, an increase of more than 40% on the previous year's record, according to new analysis from BloombergNEF (BNEF).
edie's guides to net-zero carbon continues with the public sector
The fifth report in the series of edie guides on net-zero carbon has launched with a focus on the public sector.
Sainsbury's commits £1bn to become net-zero by 2040
Supermarket retailer Sainsbury's has pledged to invest £1bn over the next 20 years in order to become a net-zero business across its own operations.
Comic Relief among charities pledging to end fossil fuel investments
Comic Relief, Power to Change, and Guy's and St Thomas' Charity are the latest organisations that have committed to end all fossil fuel investment and adopt a new ethical approach to investing, after joining the Funder Commitment on Climate Change.
Brunel Pension Partnership launches new finance strategy to align with net-zero future
The group overseeing £30bn worth of investments for 10 local government pension scheme funds has pledged to align its management practices with the Paris Agreement.
Gresham House inks deal to optimise 74MW of storage capacity
UK-based grid battery owner Gresham House has agreed to a multi-year deal with Habitat Energy to optimise 74MW of energy storage capacity, which will see machine learning applied to maximise the value of the assets and extend their lifespan.
Industrial Decarbonisation Champion to steer £20m innovation centre for net-zero transition
Professor Mercedes Maroto-Valer has been appointed as an "Industrial Decarbonisation Champion" to oversee the development of a £20m research and innovation centre at Edinburgh's Heriot-Watt University that will drive the delivery of the UK's net-zero emissions target.
Green groups slam Government proposals to cut air passenger duty amid FlyBe rescue plans
Green groups have criticised Ministers for considering measures to cut air passenger duty on domestic return flights, accusing the government of placing short-term plans to rescue FlyBe from collapse over its long-term climate targets.
EU unveils €100bn fund for 'just' low-carbon transition - which excludes nuclear
The EU's regional policy Commissioner Elisa Ferreira revealed on Tuesday (14 January) details of the €100 billion Just Transition Mechanism, a key financial component of the European Green Deal that should make the bloc climate neutral by 2050.
Urgent boost to offshore wind and CCS required for UK's net-zero target, report finds
The UK will need to facilitate a four-fold increase in low-carbon energy, including expanding offshore wind capacity by up to 75GW, in order to reach its net-zero emissions commitment for 2050.
BlackRock's Larry Fink to CEOs: 'Purpose is the engine of long-term profitability'
BlackRock's chief executive Larry Fink has warned businesses that a "fundamental reshaping of finance" is happening at pace and that businesses need to put climate action at the heart of decision-making processes in order to remain profitable.
Government urged to target one million heat pumps a year by 2035
The UK must invest in ground source heat pump infrastructure in the 2020s, just as previous generations ploughed money into the gas and water grid, in order to help kickstart the fledgling sector.
Electric buses to operate in Glasgow for first time in 60 years
Electric buses will run on a commercial route in Glasgow for the first time since the 1960s, after bus operator First Glasgow introduced two new vehicles to assist with the city's net-zero aspirations.
Decade of ascendency: New hydrogen fuel cell capacity surpassed 1GW in 2019
More than 1GW of global hydrogen fuel capacity was added in 2019, marking the first time the sector has surpassed the gigawatt milestone, with experts claiming that this could be a decade of "ascendency" for the technology.
Viridor and phs agree deal to generate power from nappies and sanitary products
Waste management company Viridor has inked a new multi-million-pound contract with washroom services firm phs Group, that will divert non-recyclable hygiene waste such as nappies and sanitary products from landfill to be used for power generation.
UK SMEs aiming to ramp up sustainability actions
Almost two-thirds of UK small and medium-sized businesses (SMEs) have signalled their intentions to improve environmental sustainability practices due to heightened consumer awareness and new legislation, according to a new survey.
