Essar jointly invests $300 million in Vietnam’s offshore hydrocarbon block

In a bid to increase its investment opportunities overseas, the Essar group via its exploration entity Essar Exploration and Production Ltd (EEPL) is investing in hydrocarbon block 114, located offshore of Central Vietnam. To be developed jointly with Ente Nazionale Idrocarburi (ENI), an investment of $300 million has been made in the project so far.

What to Expect for Alt Fuels in 2022

Emissions reduction pressure and sustainability goals will continue to mount as more fleets, consumers seek to reduce carbon footprint. As many of us do around this time of year, I’ve been reflecting on 2021 and thinking about what may happen in 2022. When it comes to alternative fuels, there’s a lot to consider. So here

Major fossil fuel investors are California’s public pensions

California’s climate-conscious policies aren’t matched by the investment choices of its largest public pension funds, according to a report from two environmental groups. Of the 14 top US pension funds analyzed by Stand.earth and Climate Safe Pensions Network, California Public Employees’ Retirement System, known as Calpers, and California State Teachers’ Retirement System, known as CalSTRS,

Canada on track to reduce fossil fuel use by 62% by 2050

A new forecast says Canada is on track for a significant reduction in fossil fuel use by 2050, even as electricity demand grows and demand for crude oil continues. In a new report on long-term Canadian energy supply and demand outlook, the Canada Energy Regulator (CER) predicts unabated fossil fuel use (meaning fossil fuel combustion

E-fuel-powered cars emit as much pollutants as fossil fuels, study finds

Cars powered by synthetic fuel produce similar quantities of harmful air pollutants to fossil fuels, according to a new study commissioned by the clean mobility NGO Transport & Environment. As Europe shifts to zero-emission passenger cars, the study challenges the green credentials of e-fuels, touted by the liquid fuel industry as a way to reduce

Voluntary climate action won’t reach net zero

The Commonwealth government says it will reach zero net emissions by 2050 through voluntary action and technology, not mandates or taxes. This is a false dichotomy. Emissions reductions in line with our international obligations require mandatory measures. Voluntary action supplements and extends mandatory measures – as it has done over the past decade. Prime Minister

India’s 40% power generation capacity now non-fossil based

India has achieved the target of 40 per cent of its installed electricity generation capacity being from non-fossil energy sources, an official statement said on Thursday. At the end of October this year, the Ministry of Power (MoP) reiterated India’s commitment to achieve more than 40 percent cumulative electric power installed capacity from non-fossil-fuel energy

Push for Oregon to divest from fossil fuel firms not getting traction so far

Some Oregonians are increasingly pushing for the state to divest from fossil fuel companies and other controversial investments, but the state treasury is resisting and putting the onus on the Legislature. In addition to fossil fuel companies whose products are a main driver of global warming, the state employee retirement fund is also invested in

Clean-energy push to halve petrol, diesel demand growth

Growth in petrol and diesel combined will likely decline to 1.5 per cent per annum this decade, compared with 4.9 per cent in the last, because of increasing blending of ethanol with petrol, and rising usage of vehicles powered by compressed natural gas (CNG) and electricity (EVs). The trend will also be persuaded by policy

IFAs have huge role in global net zero transition: Alok Sharma

COP26 president and Conservative MP Alok Sharma has said financial advisers have a huge role to play in helping developing countries transition from fossil fuels to renewable energy. Speaking to advisers at AJ Bell’s Investival 2021 in London today (18 November), Sharma (pictured) said advisers have a part to play in ensuring money set aside