Cities with net zero promises falling short on tracking

More than half of cities with pledges to reach net zero emissions have no plan for how they’ll track and report progress, an analysis published said. The assessment, conducted by the research consortium Net Zero Tracker, adds to growing concern that non-state actors, including companies and cities, are using net-zero commitments to mislead or confuse

Shipping joins hand with producers to scale up green fuels

Organisations and initiatives across the shipping value chain, joined by some of the top producers of green hydrogen, have signed on to a joint statement at COP27, committing to the rapid adoption of green hydrogen-based fuels this decade. The signatories have agreed to work on commercially viable zero-emissions vessels operating on the deep seas by

Centre ready to bring petrol and diesel under GST

The Central government in India is ready for bringing petrol and diesel under the GST regime but it is unlikely that the states will agree to such a move, Petroleum and Natural Gas Minister Hardeep Singh Puri said. The minister, however, pointed out that it is unlikely that the states will agree to such a

India takes a stand to phase down fossil fuels

India is leading a push for the COP27 climate summit to conclude with a decision on phasing down all fossil fuels, a move that would expand the focus from just coal, but is likely to raise strong concerns from oil and gas-reliant countries. Indian negotiators formally called on the Egyptian Presidency of climate talks for

At COP27 countries committed to cut emissions

Some of the world’s leading economies have committed to reducing greenhouse gas (GHG) emissions from fossil fuels, but said oil and gas consumption will persist as the energy transition takes shape as they seek to balance energy security with decarbonisation. At the Cop 27 UN climate summit today, the US, the EU, the UK, Japan,

IOC to recycle 20 mn PET bottles annually

IOC, which meets as much as half of the nation’s fuel needs, has already committed to a net zero emission target by 2046 and is now venturing into recycling PET bottles. Indian Oil Corporation (IOC), the nation’s largest oil firm, will recycle 20 million discarded mineral water, cold drink and other PET bottles annually to

India asks for higher global climate finance target

Developing countries require substantive enhancement in climate finance from the floor of $100 billion per year to meet their ambitious goals and rich countries need to lead the mobilisation of resources, India has stressed at the ongoing UN climate summit COP27. At COP15 in Copenhagen in 2009, developed countries had committed to jointly mobilise $100

UN expert group launches report on corporate greenwashing

A UN-convened group has launched a major new report at COP27 to crackdown on corporate greenwashing around net-zero claims, outlining key recommendations to ensure non-state actors are actively working towards decarbonisation. The High Level Expert Group on Net Zero Emissions Commitments of Non-State Entities was set up by UN Secretary-General António Guterres in March 2022

France to increase expenditure on zero-carbon ships development

France’s secretary of state in charge of maritime affairs, Hervé Berville, has set aside €300m ($302m) under the government’s France-Mer 2030 plan to get the country closer to building zero-emissions vessels. While only 12% of the ships used in France are built in the country, compared to 80% in 1980, Berville stressed at a conference

Amid strong demand for diesel exports Chinese refiners increases its production  

China’s refined oil product exports in November are set to hit the highest since April 2020 as refiners ramp up output to multi-month highs to boost diesel supply and profit, offsetting the impact of slower domestic demand from COVID-19 restrictions. The world’s top two refiners – the United States and China – are processing more