Maersk on the way to netzero carbon emission status by 2040

Denmark-based global container logistics giant Maersk will achieve net-zero carbon emission status by 2040 when its entire fleet will be green fuel enabled, said Christopher Cook, Managing Director, Maersk UAE. “As we scrap old vessels, the new ones that are coming in will be green fuel enabled. Our entire fleet will be green fuel enabled

Fossil Fuel industries getting huge subsidy benefits in Australia

New research has revealed the fossil fuel industry benefits from more than $22,000 in subsidies per minute in Australia. The study, released by the Australian Institute of Research on Monday, showed subsidies cost Australians a staggering $11.6bn every year. This is a 12 per cent increase on last year’s figure and 56 times the budget

Kerala to become carbon-neutral state by 2050

Kerala State government has been formulating a plan to make it a zero-emission state by the year 2050. While inaugurating a seminar on Carbon Neutral Kerala organised as part of the Nava Keralam Mission, Kerala state minister for Local Self Government MV Govindan said. The modern consumer culture was among the many factors contributing to

EC to invest €1.1 bn on technologies to reduce emissions

The Commission signed €1.1 billion of grant agreements, allocated for seven low-carbon technologies which will substantially reduce emissions – within the first ten years. The seven large-scale projects, funded via the EU’s Emissions Trading System (ETS), are expected to reduce carbon emissions by over 76 Mt of CO2eq in the first ten years. The projects

UN IPCC talks hung up on finance

Negotiations to finalise a key UN report on how to stave off climate catastrophe wrapped up on April 3, more than two days late following a tussle over how to describe financial needs. The two-week virtual talks have been contentious from the start, as nearly 200 nations grapple with hard choices about how to rapidly

Amid global oil and gas crisis, support increases for nuclear-powered ships

Support is growing for Mikal Bøe-led Core Power, a high-profile developer of nuclear propulsion for merchant ships. First launched in 2018, Core Power today can boast 49 shipping companies as backers of the UK firm, a grouping made up of owners, operators and managers who, combined, control more than 4,000 ships. James Marshall-led Berge Bulk

BASF Group targets to cut its global emissions by 25%

BASF confirmed that by 2030 it aims to reduce its greenhouse gas emissions by 25% compared with 2018 and is maintaining its goal of net-zero emissions globally by 2050. On its path to reducing global emissions to 16.4 million metric tons by 2030, BASF is publishing annual CO2 emissions forecast for the BASF Group as

Scorpio Tankers signs an MoU with Carbon Ridge on development of onboard carbon capture

Scorpio Tankers Inc. announces that the Company has entered into a Memorandum of Understanding with Carbon Ridge LLC to collaborate on the development of onboard carbon capture for maritime vessels. Carbon Ridge is a US-based startup working to commercialize existing gas separation technology without the need for large structural modifications. The Agreement addresses the collaboration

Aker Carbon Capture signs an MoU with Microsoft for scaling carbon capture services

Aker Carbon Capture has signed a Memorandum of Understanding (MoU) with Microsoft to pursue joint innovation and explore opportunities to offer services in the Carbon Capture, Utilization and Storage (CCUS) market. CCUS is a critical solution to achieve the large carbon reductions and removals needed for the world to reach net zero emissions. New and

What is real reason behind the soaring oil and gas prices in the US?

In the wake of the devastating Russian invasion of Ukraine, US gas prices soared, averaging $4.25 a gallon. Now fossil fuel companies and their political allies have seized the opportunity to suggest that additional fossil fuel investment is the solution. Their arguments are rife with misinformation. This is calculated, of course, meant to pad the