Top finance firms offered fossil fuel industry $740bn of funding

A damning new analysis of the energy investments of the world’s 30 biggest listed financial firms has revealed that they collectively provided $740bn to the fossil fuel industry in 2020 and 2021 – often with limited requirements on climate. Promisingly, 29 of the 30 companies have committed to achieving net-zero financed emissions by 2050 or

Anticipating food deficiencies, Biden creates fossil fuel task force

“With regards to food shortages, it’s going to be real,” President Biden declared after meeting with NATO allies in Brussels, saying both Russia and Ukraine have been the breadbasket of Europe. “The price of these sanctions is not just imposed on Russia, it is imposed on an awful lot of countries as well, including European

Wartsila offers tech support to Salamanca vessel

Wartsila will provide technical support via a 10-year service agreement for its solutions installed on Brittany Ferries’ LNG-fuelled RoPax vessel, the Salamanca. The Salamanca – which will be inaugurated on 25 March and make its first commercial sailing from Portsmouth to Bilbao on 27 March – is the first LNG-fuelled passenger ferry to operate from

Green hydrogen project construction to begin soon in Saudi Arabia

Work is to begin this month on a $5bn project to produce green hydrogen at Saudi Arabia’s futuristic Neom mega-development. When complete in 2026, the plant will be the world’s biggest producer of hydrogen from renewable sources. The plant is being built by Pennsylvanian company Air Products, which agreed a deal for the scheme in

RIX Industries develops technology to switch to green fuel propulsion

A Californian company has debuted technology that requires no major retrofit to make today’s bunker fuel guzzling generation of ships switch to hydrogen. RIX Industries is touting its methanol-to-hydrogen solution as a way to future proof existing vessels from incoming green legislation. With RIX technology, hydrogen is not stored but rather created as needed through

Fossil fuel suppliers in the US link bank credit to climate targets

American fossil-fuel suppliers are moving to tie their bank credit lines to sustainability goals, including slashing their carbon footprint. DCP Midstream LP, which operates natural gas pipelines, unveiled Tuesday that interest and fees paid on its $1.4 billion revolving credit facility with banks such as Mizuho Financial Group and JPMorgan Chase & Co. are now

Wartsila presents various options for energy’s decarbonised future

The technology group Wärtsilä has published an important paper on the role of sustainable fuels in the energy sector’s transition towards decarbonised power generation. Future carbon-neutral fuels and the use of flexible engine power plants capable of utilising such fuels, will be central to this transition. Along with the growing need to decarbonise engine power

Nine steps for achieving netzero in cement and steel

Cement and steel are essential ingredients of buildings, cars, dams, bridges and skyscrapers. But these industries are among the dirtiest on the planet. Production of cement creates 2.3 billion tonnes of carbon dioxide per year, and making iron and steel releases some 2.6 billion tonnes — or 6.5% and 7.0% of global CO2 emissions, respectively.

Ramping up SAF production from wild algae

AECOM has signed a strategic agreement with Genifuel Corporation to scale production of sustainable aviation fuel (SAF) and biogas from wild algae and biosolids. The partnership employs a patent-pending process developed by AECOM to harvest wild algae and a patented process developed by Genifuel and the US Department of Energy to convert algae and wastewater

APL join hands with IHI, Kowa for environment-friendly power generation

Adani Power Limited (APL) has entered into a pact with Japanese companies – IHI Corporation and Kowa Company Ltd. (Kowa) – to collaborate on environmentally sustainable power generation. The companies will study the feasibility of ammonia co-fired units that would help decarbonise Adani Power’s coal-fired units. The company aims to achieve modification target of 20