Page 13 - Fossil Fuel

Investors in fossil fuels announce plans to divest $39.2 trillion

About 1,500 investment institutions overseeing a combined $39.2 trillion of assets are now committed to divesting from fossil fuels

New Asian gas projects create $379 bn stranded asset risk: Report

A planned $379 billion expansion of gas infrastructure in Asia risks becoming stranded assets

China targets more than 80% non-fossil energy use by 2060

The measures are part of China's larger plan for achieving peak carbon emissions and reaching net-zero by 2060

Fossil fuel plans evade Paris limits, says UNEP report

Over the next two decades, governments are collectively projecting an increase in oil and gas production, and only a modest decrease in coal production

Fossil fuel plans would far overshoot climate goals, says study

The disparity between climate goals and fossil fuel extraction plans termed the production gap will widen until at least 2040, the report found.

EU proposes tax breaks, caps to shield users from energy rally

The rally in natural gas to power and emission permits is hurting everyone from German chemicals producers to Spanish households just as the economy is recovering from the pandemic

Global climate action: Indian banks need to accelerate green financing

Indian banks need to move away from financing fossil fuels projects and prioritise lending to renewable energy and other environmentally sustainable projects

Fossil fuels can still see a price boom in the decarbonisation era

The current price spike has multiple sources

Carbon neutrality powered by AI

Countries like India, which are leading the adoption of climate change measures, will have to encourage energy companies to embrace higher levels of AI usage

BMW to reduce carbon emissions in car life cycle by 40% before 2030

BMW has been reluctant to set a hard deadline for phasing out fossil-fuel cars

BHP Group bets on lower-carbon world with petroleum exit; shares up 9.8%

The company also approved $5.7 billion of spending to build a massive new fertiliser mine in Canada

Big Oil shows confidence that the era of large profits is back

BP Plc and Equinor ASA have already made incremental dividend increases and announced more modest buyback plans

Adani group boosting coal assets despite carbon neutral pledge: Report

Environmental nonprofit says company is making a significant negative contribution to global warming

Few takers for India's coal mines with production apparently having peaked

Coal consumption to become even more import driven as domestic production plateaus

Shell to accelerate emissions cuts after Dutch court ruling, says CEO

The oil and gas giant still expects to appeal the verdict and believes it has been unjustly singled out, Chief Executive Ben van Beurden said in a statement posted on LinkedIn.

Fossil fuels will be a bad word in decades to come: Oil Minister Pradhan

He asked oil and gas firms to take a lead in clean fuel initiatives, urging them to focus more on using farm waste to energy projects

CoalMin targets projects worth Rs 41K-crore for asset monetisation

These projects include coal washeries, coal gasification, first-mile connectivity for building coal silos/mechanised loading, offering mines to private firms under mine developer and operator model

Joe Biden's fossil fuel moves clash with pledges on climate change

The clash between Mr. Biden's pledges and some of his recent decisions illustrates the political, technical and legal difficulties of disentangling the country from the oil, gas and coal

Hyundai to slash its combustion engine line-up, invest in EVs: Sources

The move is expected to result in a 50% reduction in models powered by fossil fuels

India unlikely to accept IEA's call to stop new fossil fuel investments

"We do not think the report by IEA has been vetted by the member countries as a position document", said a senior source in the government