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☆ How electric trucks are becoming the norm for moving cargo
▼ + stars: | 2024-04-18 | by ( Jonathan Keane | ) www.cnbc.com time to read: +6 min

Drayage trucks, which bring cargo from ports to warehouses nearby, must make the move to electric by 2035 in the U.S. state. Transitioning fleets to electricAcross the Atlantic, Dutch brewer Heineken recently partnered with Swedish electric truck start-up Einride to make the transition to electric. Getting more electric trucks to carry cargo on the road, especially for long-distance journeys, will need to be spearheaded by cargo owners that want their goods moved sustainably. Many of the new trucks will be deployed in markets where DFDS has not yet moved to electric trucks, including in the U.K. In California, Lime's use of electric trucks has been driven by legislation that states all drayage trucks must be zero-emissions by 2035.

Persons: Andrew Savage, we've, Savage, Arjen van der Woude, that's, van der Woude, Sweden's, Robert Falck, " Falck, Lime's Savage Organizations: PT Vale, Hight Logistics, CNBC, Heineken, DFDS, Volvo Locations: PT Vale Indonesia, China, California, U.S ., North America, Los Angeles, Long, Canada, Dutch, Swedish, Netherlands, Germany, Europe, Rotterdam

☆ Big oil is racing to scale up carbon capture to slash emissions but the challenges are immense
▼ + stars: | 2024-04-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +14 min

Some climate activists accuse the industry of simply investing in carbon capture as way to extend the use of oil and gas. The technology typically uses chemical absorption to capture carbon dioxide emitted from the chimney of an industrial plant. "The economic viability of carbon capture and sequestration is a challenge today because the cost of building most plants in order to capture carbon dioxide are very significant," the executive said. About two-thirds of the industry's carbon dioxide emissions come from chemical reactions that occur when breaking down limestone. SLB this month announced a nearly $400 million investment in Aker Carbon Capture, a pure-play carbon capture company based in Norway, in an effort to accelerate deployment of the technology at commercial scale.

Persons: Chin Lee, Biden, SLB, Fred Majkut, Majkut, Adam Miklos, Miklos, Baker Hughes, Olivier Le Peuch, Alessandro Bresciani, Jeff Gustavson, Gustavson, steelmaker Nucor, Linde, Dan Ammann, Ammann, Fatih Birol, We're, SLB's Majkut Organizations: Chevron, Houston Chronicle, Hearst Newspapers, Department of Energy, RTI International, International Energy Agency, Exxon, Rystad Energy, Clean Investment Monitor, United Nations ., Gulf Coast, CF Industries, Talos Energy, Carbonvert, IEA Locations: Winnie, Mississippi, Vicksburg, Schlumberger, United States, Paris, Chevron, United Kingdom, U.S, Aker, Norway, Houston, Port Arthur , Texas, Gulf, Louisiana, Beaumont , Texas, Mississippi , Louisiana, Texas, Bayou, Port Arthur

☆ World's first-ever global emissions tax takes a step closer to reality
▼ + stars: | 2024-03-22 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +3 min

Countries at the meeting of the United Nations' International Maritime Organization in London signed a deal for shipping emissions to reach net zero "by or around" 2050. Ucg | Universal Images Group | Getty ImagesTwo weeks of talks at the United Nations shipping agency concluded in London on Friday, with a clear majority of countries emerging in favor of introducing the world's first-ever global emissions levy. The UN is on the edge of adopting the world's first-ever global emissions price, but the policy will only be as successful as countries make it to be. "The UN is on the edge of adopting the world's first-ever global emissions price, but the policy will only be as successful as countries make it to be," said Sandra Chiri, shipping emissions international outreach manager at the Ocean Conservancy, a U.S.-based advocacy group. Other proposals include a push to combine a price on shipping emissions with an international emissions standard for maritime fuel.

Persons: Sandra Chiri, Chiri, Gregor Fischer Organizations: United Nations, International Maritime Organization, Ucg, Getty, UN, Ocean, Ocean Conservancy, EU, Marshall Locations: London, Caribbean, U.S, Pacific, Africa, Canada, decarbonize, Fiji, Marshall Islands, Vanuatu, Barbados, Jamaica, Grenada, Belize

☆ Storing Renewable Energy, One Balloon at a Time
▼ + stars: | 2024-03-18 | by ( Amos Zeeberg | ) www.nytimes.com time to read: +2 min

The key component of this technology is as unlikely as the remote location: carbon dioxide, the chief cause of global warming. Energy Dome, a start-up based in Milan, runs an energy-storage demonstration plant that helps to address a mismatch in the local electricity market. “In Sardinia during the day, everyone goes to the sea,” Claudio Spadacini, chief executive of Energy Dome, said. Energy Dome uses carbon dioxide held in a huge balloon, the “dome” in the company’s name, as a kind of battery. Companies are developing and marketing varied and creative ways to store renewable energy: liquefying carbon dioxide, de-rusting iron, heating towers filled with sand to temperatures almost hot enough to melt aluminum.

Persons: Clint Eastwood, Claudio Spadacini, “, Jennifer M, Granholm, we’ve, ”, Elaine Hart Organizations: Energy Locations: Sardinia, Ottana, Milan, “, U.S

☆ Fund manager names the stock that is decarbonizing the AI transition
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFund manager names the stock that is decarbonizing the AI transitionStephanie Niven, fund manager behind the Ninety One Global Sustainable Equity fund named the stocks to capitalize on the long-term trends of artificial intelligence and decarbonization.

Persons: Stephanie Niven Organizations: Email, Sustainable Equity

☆ Climate and infrastructure startups are leaning into modularity — and investors are paying attention
▼ + stars: | 2024-03-11 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

The lines between climate tech and infrastructure startups have become increasingly blurred. Investments in infrastructure startups over time. Permitting remains a massive roadblock for climate projects and modularity can be one way to "get around some of those hurdles," added Ben Wolkon, partner at MUUS Climate Partners. Modular tech can also be distributed and containerized, with some startups hoping to roll out with partners on-site. It's not just industrial startups that are going modular and distributed — it encompasses carbon capture, water filtration, food systems, and energy, said Regeneration.VC's Hoffman.

Persons: Katie Hoffman, Mike Schroepfer, Seonghoon Woo, Tim Boeltken, Sierra Peterson, Ben Wolkon, It's, Regeneration.VC's Hoffman Organizations: Business, Venture, Investments, Facebook, Gigascale, MUUS Climate Partners Locations: Paris, New York

☆ AtmosZero wants to decarbonize industrial steam. Check out the 14-slide pitch deck it used to raise $21 million.
▼ + stars: | 2024-02-20 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

Read previewA startup that wants to help decarbonize industrial steam has raised $21 million in a Series A round. Colorado-based AtmosZero, launched in 2022, has developed a drop-in replacement for fossil fuel boilers that are used to produce steam. Steam is used in a variety of industrial processes, from beer to papermaking, and in district heating. Most steam applications need temperatures of between 100 degrees Celsius to 225 degrees Celsius, Salvi said. AtmosZero's first product can achieve 165 degrees Celsius, with the company eyeing 200 degrees Celsius in the coming years.

Persons: —, Ashwin Salvi, we're, Salvi, There's, AtmosZero Organizations: Service, Business, New Belgium Brewing Company, US, Ventures, Constellation Technology Ventures, Constellation Energy, Energy Impact Partners, Starlight Ventures, US Department of, Decarbonization Locations: Colorado, Europe, Amsterdam

☆ Good news, bad news: U.S. emissions shrank last year, but very slowly
▼ + stars: | 2024-01-10 | by ( Evan Bush | ) www.cnbc.com time to read: +4 min

Carbon emissions shrank in 2023 even as the economy grew, a sign the U.S. is plodding toward a more sustainable future. "This is the first time since 2019 that the economy has grown while emissions have fallen," said Ben King, an associate director leading the Rhodium Group energy team. U.S emissions fell sharply in 2020 during the coronavirus pandemic, when activities were restricted, and then rebounded in the two years that followed. The Biden administration, which rejoined the Paris Climate Agreement in 2021, said it would target emission cuts of 50% to 52% by 2030. The power and buildings sectors were responsible for the 2023 emissions decline, according to the Rhodium analysis.

Persons: Ben King, Biden, King, Joe Biden's Organizations: U.S, Stockholm Environment Institute, EV, U.S . Locations: Los Angeles, Los Angeles , California, Paris, Stockholm, Greenland, West Antarctica, East Antarctica, U.S

☆ Climate change has forced millions to flee their homes — and Asia is 'not prepared'
▼ + stars: | 2024-01-04 | by ( Chelsea Ong | ) www.cnbc.com time to read: +8 min

Fida Hussain | Afp | Getty ImagesAs the number of climate disasters increase, more people are being forced to flee their homes, especially in Asia. South Asia most at riskIn the region, South Asia is likely to have the most people displaced by climate change due to the density of its populations and its vulnerability to the effects of climate change, he added. According to the World Economic Forum, 10% to 18% of South Asia's GDP is at risk due to climate disasters. Some have nothing to return to, Oberoi explained, as climate change may have hurt their crop production at home. While we are talking and discussing and quibbling, the millions of climate migrants are the forgotten casualties of climate change.

Persons: Fida Hussain, Vinod Thomas, Thomas, Vinod Thomas ISEAS, Yusof Ishak, Tamara Wood, Pia Oberoi, Oberoi, Wood Organizations: Afp, Getty, ISEAS, Yusof, Institute, Economic, Kaldor, International Refugee, CNBC, OECD Locations: Pakistan, Asia, Philippines, China, South Asia, Bangladesh, Afghanistan, South, America, Europe, Australia, Tuvalu, Southeast Asia, UNHCR

So far, Woods' plans have turned investors demanding an energy transition strategy into believers - at least on climate. At the same time, the company plans to have a leading role in the vehicle electrification business. Reuters GraphicsMORE OIL VS GREEN AMBITIONExxon's ambitious agenda includes starting up the world's largest hydrogen power plant by 2027. RISKY BUSINESSThe $17 billion budget for low carbon technologies as the company's total revenue grows next year "will continue to rise", the CEO said. Spending in low carbon currently is constrained by scarcity of customers willing to sign up for contracts and insufficient regulations, Woods said.

Persons: Darren Woods, Carlos Barria, Woods, ”, Paul Sankey, Sankey, Chris James, Dan Ammann, Goldman Sachs, Neil Mehta, Ammann, Brian Weeks, Chris Bohn, Sabrina Valle, Richard Valdmanis, Gary McWilliams, Anna Driver Organizations: ExxonMobil, Economic Cooperation, REUTERS, Exxon Mobil, Natural Resources, Chevron, Reuters, Exxon, Sankey Research, Carbon Solutions, Thomson Locations: Asia, San Francisco , California, U.S, United States, Sankey, Americas, Brazil, Guyana, Texas, Gulf of Mexico, Houston, Dubai

☆ California's Salton Sea could hold enough lithium for 375 million batteries — more than the total number of vehicles currently on US roads
▼ + stars: | 2023-12-05 | by ( Jennifer Solis | Nevada Current | ) www.businessinsider.com time to read: +6 min

The US Department of Energy released an analysis estimating how much lithium is under the Salton Sea. Salton Sea has the potential to produce an estimated 375 million lithium batteries for electric vehicles — more than the total number of vehicles currently on US roads, according to the analysis commissioned by the Department of Energy. It's the most comprehensive analysis to date quantifying the domestic lithium resources in California's Salton Sea region. AdvertisementIf the Salton Sea lithium can be extracted, it could give the US the ability to produce domestically sourced lithium, ending the nation's dependence on rival countries for a supply of the metal. AdvertisementThe state of California is also leaning into the development of lithium extraction in the Salton Sea.

Persons: DOE's Lawrence, Biden's, Jeff Marootian, George Rose, Gavin Newsom, Thacker Organizations: US Department of Energy, Service, Department of Energy, DOE's Lawrence Berkeley National Laboratory, Berkshire Hathaway Energy, DOE, California State, California Gov, US Fish and Wildlife Service Locations: Nevada's Thacker, Salton, Niland , California, California, Saudi Arabia, Nevada, In Nevada, Esmeralda County

☆ Exxon Mobil CEO urges COP28 to focus on reducing emissions — not phasing out fossil fuels
▼ + stars: | 2023-12-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

There's also an ongoing debate about whether an agreement should center on "abated" fossil fuels, which are trapped and stocked with carbon capture and storage technologies, or "unabated" fossil fuels, which are largely understood to be produced and used without substantial reductions in the amount of emitted greenhouse gases. "We cannot save a burning planet with a firehose of fossil fuels," Guterres said. "The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. Not everyone is on board with calls to phase out fossil fuels, however. An Exxon Mobil gas station in Washington, DC, US, on Tuesday, Nov. 28, 203.

Persons: Darren Woods, There's, Steve Sedgwick, Woods, U.N, António Guterres, Guterres, Phaseout, David Paul Morris, Exxon Mobil's Woods, Tengku Muhammad Taufik, I'm Organizations: UNITED, EMIRATES, Exxon Mobil, United Arab Emirates, United Arab, Exxon Mobil Corp, Economic Cooperation, APEC, Bloomberg, Getty Images Bloomberg, Getty, Exxon, Big Oil, Petronas, Natural Resources, Mobil Locations: Dubai, COP28, Russia, United Arab Emirates, Asia, San Francisco , California, San Francisco, China, UAE, Washington , DC

☆ The first commercial transatlantic flight powered completely by green fuels is in the air, but critics say it's a gimmick and a joke
▼ + stars: | 2023-11-28 | by ( Pete Syme | Taylor Rains | ) www.businessinsider.com time to read: +3 min

Virgin Atlantic is operating the first transatlantic flight on a commercial airliner powered by 100% SAF. But it costs more than double conventional jet fuel, and production is lagging behind demand. Virgin Atlantic is operating the Boeing 787-9 Dreamliner to New York's JFK Airport, where it's expected to arrive around 2 p.m. "And if we didn't prove it can be done, you would never, ever get sustainable aviation fuel." On Monday, Emirates flew the world's first Airbus A380 demonstration flight using 100% SAF.

Persons: it's, Shai Weiss, Sir Richard Branson, There's, Weiss, Critics, Cait Hewitt Organizations: Virgin, SAF, Service, Virgin Atlantic, Boeing, New York's JFK, International Air Transport Association, BBC, Aviation Environment Federation, CNN, Guardian, UK's Department for Transport, Monday, Emirates, Airbus, Gulfstream, Gulfstream G600 Locations: New, Georgia, England

☆ COP28 host UAE planned to use the event to make oil deals, leaked notes suggest
▼ + stars: | 2023-11-27 | by ( Angela Dewan | Rosa Rahimi | ) edition.cnn.com time to read: +7 min

The UAE has already been at the center of widespread criticism for appointing its top oil and gas chief to preside over COP28. The US, China, France, Germany and the UK are among the countries with briefing notes published by the Centre for Climate Reporting. The briefing notes read as would be expected for such meetings, until the end of each country’s notes, where suggestions to promote ADNOC and Masdar are included. The notes did not suggest oil and gas projects would be discussed with all those countries. For the US, for example, the briefing notes touch on potential renewable energy deals, saying Masdar hoped to grow its presence in the US by carrying out “acquisitions” in the short term.

Persons: Sultan Al Jaber —, Al Jaber, ADNOC, Al Jaber helms, Masdar, ”, Kaisa Organizations: CNN, United, Emirates ’, Climate, Abu, Abu Dhabi National Oil Company, BBC, Centre, UN, UNFCCC, Greenpeace International Locations: Abu Dhabi, UAE, China, France, Germany, Russia, Ukraine, Mozambique, Canada, Australia, Venezuelan, Azerbaijan, Europe, Egypt, Kenya, Mexico, Netherlands, Norway, Saudi Arabia, Switzerland

☆ E-Flight Challenge pitched a car against a plane -- and the car won
▼ + stars: | 2023-11-14 | by ( Miquel Ros | ) edition.cnn.com time to read: +12 min

Members of the E-Flight Challenge team lined up to watch the battery-powered airplane gracefully descend on the island of Norderney, just off the northwest coast of Germany. The long road ahead for electric aviationYou could say that the E-Flight Challenge takes its inspiration from the early days of aviation. The Elektra Trainer used in the E-Flight Challenge, for example, can carry a maximum of two people. Miquel RosIn this context, the E-flight Challenge served as an illustration of the challenges of electric flight – but also of its promise. The progress compared to just three years ago has been astonishing!” explains Morell Westermann, one of the E-Flight Challenge initiators.

Persons: Louis, Charles Lindbergh’s, Heart Aerospace –, –, Miquel Ros Italy’s Tecnam, China’s, Cuberg, ” Robin Riedel, Riedel, Norbert Werle, Tesla, Werle, ”, John Langford, Miquel Ros, Morell Westermann, Westermann Organizations: CNN, Lucid Motors Air, Louis Blériot’s, Channel, Heart Aerospace, United Airlines, Royce, Norwegian, Widerøe, Airbus, Boeing, Aerospace, McKinsey, Alamy, “ Aircraft, Lucid Motors Locations: Norderney, Germany, Gelnhausen, Frankfurt, Norway, Swedish, California, Berlin, The Virginia, “, Swiss

Emirates is a heavyweight when it comes to East-West travel out of Dubai International Airport, the world's busiest for international travel. In March, the airline announced an order of up to 72 Boeing 787-9 Dreamliner jetliners and has further plans to expand. Other purchases Tuesday included:— Emirates announced $1.2 billion in deals with French firm Safran, including for seats. — Emirates announced plans for a $950 million maintenance facility at Al Maktoum International Airport, the city-state's second airfield. — Boeing and SCAT Airlines of Kazakhstan announced the airline would purchase seven Boeing 737 MAX aircraft.

Persons: —, Tim Clark's, FlyDubai, Clark, ” Clark, — Rafael, ”, they’ve, “, Mesfin Tasew, Safran, — EgyptAir Organizations: United Arab Emirates, Emirates, Airbus, Royce, Dubai Air, Boeing Co, Boeing, Ethiopian Airlines, Al Maktoum International Airport, Rolls Royce, Associated Press . Emirates, Dubai International Airport, Ben Gurion International, Defense Systems Ltd, Israel Aerospace Industries, IAI, Courage Meets Technology, Riyadh Air, Dubai, United Nations, Aviation, SAF, Ethiopian, Boeing MAX, MAX, — Emirates, Al, Airlines Locations: DUBAI, United Arab, Al Maktoum, East, West, Dubai, Israel, Gaza, Emirates, Tel Aviv, Riyadh, Saudi, Saudi Arabia, Sydney, Australia, Addis Ababa, Kazakhstan

☆ Duke Energy to build end-to-end green hydrogen system in Florida
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

The company logo and ticker for Duke Energy Corp. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 4, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 27 (Reuters) - Electric utility Duke Energy (DUK.N) said on Friday it would build a project to create clean energy using an end-to-end system to produce, store and combust 100% green hydrogen, in Florida. Green hydrogen, produced by splitting water through electrolysis using renewable energy, is expected to play a key role in decarbonizing various industries, including transport. Construction of the demonstration project in DeBary would begin later this year and could take about one year to complete, Duke said. The new system would begin with the existing 74.5-megawatt (MW) DeBary solar plant providing clean energy for two 1-MW electrolyzer units.

Persons: Brendan McDermid, Sargent, Lundy, Electric's, Duke, Arunima Kumar, Shilpi Majumdar Organizations: Duke Energy Corp, New York Stock Exchange, REUTERS, Electric, Duke Energy, Duke, GE, Thomson Locations: New York, U.S, Florida, DeBary, Bengaluru

☆ Green Steel Is Coming. Europe Is Leading the Charge Thanks to New Carbon Taxes.
▼ + stars: | 2023-10-26 | by ( Yusuf Khan | ) www.wsj.com time to read: +7 min

The need for conversion to low-carbon steel production is greater in Europe, where 57% of steel is produced in coal-fired blast furnaces. Swedish-based startup H2 Green Steel has signed deals to supply low-carbon steel to IKEA, Mercedes-Benz , BMW and Scania. Customers of H2 Green Steel have been willing to support the project based on their own green targets and their end-customers’ willingness to pay a green premium, he said. H2 Green Steel said it would charge a €150 premium, while Swedish steelmaker SSAB expects to charge double that. Research from the Rocky Mountain Institute suggests the IRA will encourage green steel investments that would, by 2030, produce about eight million tons of low-carbon steel, or nearly 10% of U.S. steel demand.

Persons: fabian strauch, ”, Colin Richardson, incentivizing, CBAM, Nicola Davidson, Davidson, Henrik Henriksson, Mikael Sjoberg, ” Henriksson, Gunnar Güthenke, SSAB, Europe ”, Simone Tagliapietra, Paul Lim, ” Lim, Yusuf Khan Organizations: Leadership Group, Industry, Argus Media, Rocky Mountain Institute, U.S ., Business, International Energy Agency, Investments, Steel, IKEA, Mercedes, Benz, BMW, Scania, H2, Bloomberg, Research, Europe, Bruegel, U.S Locations: Europe, U.S, Brussels, London, European, Lakes , Texas, Pacific, China, Asia

☆ This startup wants to make nature a balance sheet-grade asset. Check out the 19-slide pitch deck The Landbanking Group used to raise $11 million.
▼ + stars: | 2023-10-26 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

A climate fintech startup that wants to make nature a balance sheet-grade asset has just raised $11 million in seed funding. The Landbanking Group, founded in 2022, has created a software platform for land owners and investors. These assets can then be sold on to the likes of investors or corporations set on decarbonizing their supply chains. But in compensation markets, "you need to do harm first, for you to have an incentive to actually engage with nature," Stuchtey said. From there, the startup is positioning itself as a depository bank where nature assets are held, exchanged, and settled.

Persons: Martin Stuchtey, Sonja Stuchtey, Stuchtey Organizations: McKinsey, Force, 4P Capital Locations: Munich

SummaryCompanies Shell to cut 200 jobs, or 15%, of low-carbon solutions unitA further 130 jobs under reviewShell scraps hydrogen light mobility unitLONDON, Oct 25 (Reuters) - Shell (SHEL.L) will cut around 15% of the workforce at its low-carbon solutions division and scale back its hydrogen business as part of CEO Wael Sawan's drive to boost profits, it said on Wednesday. Shell plans to sharply scale back its hydrogen light mobility operations, which develop technologies for light passenger vehicles, the company said. It will also merge two of four general manager roles in the hydrogen business, Shell said. The retreat from the light mobility sector follows the departure of the business's manager Oliver Bishop several months ago. Bishop today leads rival BP's (BP.L) global hydrogen mobility business.

Persons: Wael Sawan's, Sawan, Shell, Oliver Bishop, BP's, London . Sawan, Ron Bousso, Jason Neely, Jan Harvey Organizations: Shell, Reuters, Solutions, Sawan, Energy Intelligence, BP, Exxon Mobil, Chevron, Thomson Locations: Shell, Britain, Netherlands, Europe's, Louisiana, London ., U.S

☆ AI, weight loss drugs and more: Portfolio manager names stocks to play 'new secular growth themes'
▼ + stars: | 2023-10-24 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

And then you overlay on top of that the emergence of two or three brand new secular growth themes," he said. CNBC Pro takes a look at the stocks he likes in three "brand new" areas of growth: obesity drugs, reshoring and artificial intelligence. Reshoring infrastructure Ayer sees bright spots in the reshoring theme too. The portfolio manager named tech giant Amazon as a good play of the AI wave. The way Ayer sees it, more companies in the U.S. are foraying into AI right now, compared to those in other parts of the world.

Persons: Sanjay Ayer, Ayer, He's bullish, —, Christina Cheddar Berk, Carmen Reinicke, Julie Coleman Organizations: CNBC Pro, WCM Investment Management, Equity Fund, Nordisk, Novo Nordisk, U.S . Food, Drug Administration, Tetra Tech, Canadian, Canadian Pacific, U.S Locations: U.S, China, Japan, India

☆ Cambodia is focusing on decarbonizing its transportation sector, minister says
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCambodia is focusing on decarbonizing its transportation sector, minister saysKeo Rattanak, Cambodia's minister of mines and energy, discusses the steps the country is taking to achieve its net-zero targets.

Persons: Keo Rattanak Organizations: Cambodia

☆ Navigator CO2 Ventures cancels carbon-capture pipeline project in Midwest
▼ + stars: | 2023-10-23 | by ( ) www.cnbc.com time to read: +2 min

Navigator CO2 Ventures has canceled its Heartland Greenway pipeline project aimed at capturing 15 million metric tons of carbon dioxide annually from Midwest ethanol plants and storing it permanently underground, the company said on Friday, citing "unpredictable" state regulatory processes. The Navigator project would have laid 1,300 miles (2,092 km) of pipeline across five states. Residents along the route expressed concern to state regulators about potential safety risks if the pipeline should leak and about harm to their land from construction. In September, the company's permit application was denied by South Dakota regulators and this month the company asked Iowa regulators to pause its permit process. Another major CCS pipeline project proposed by Summit Carbon Solutions has also faced setbacks amid landowner concerns, including permit denials in South and North Dakota.

Persons: Joe Biden's, Jess Mazour Organizations: Ventures, Heartland, South, Navigator, Sierra Club, CCS, Summit Carbon Solutions, Summit Locations: Gowrie , Iowa, U.S, Midwest, South Dakota, Iowa, Illinois, Iowa , Nebraska, South, North Dakota

It is also a blow to the ethanol industry, which sees CCS as key to cutting emissions from producing the fuel. The Navigator project would have laid 1,300 miles (2,092 km) of pipeline across five states. Residents along the route expressed concern to state regulators about potential safety risks if the pipeline should leak and about harm to their land from construction. Another major CCS pipeline project proposed by Summit Carbon Solutions has also faced setbacks amid landowner concerns, including permit denials in South and North Dakota. Summit recently said its pipeline will start operating in 2026, a delay from its initial timeline of 2024.

Persons: Joe Biden's, Jess Mazour, Leah Douglas, Richard Chang, Rod Nickel Organizations: Ventures, Heartland, South, Navigator, Sierra Club, CCS, Summit Carbon Solutions, Summit, Thomson Locations: Windsor , Colorado, Midwest, U.S, South Dakota, Iowa, Illinois, Iowa , Nebraska, South, North Dakota

☆ 'No question' that the decarbonization of shipping will contribute to inflation, says industry CEO
▼ + stars: | 2023-10-18 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

The cost of decarbonizing the shipping industry will have a knock-on effect on consumers, according to a CEO in the maritime industry. "There will be an inflationary impact coming from [the] decarbonization of shipping … there is no question of it," Bertrand Chen, CEO of the Global Shipping Business Network, told CNBC's East Tech West conference in the Nansha district of Guangzhou, China. New European rules that effectively tax shipping lines for their emissions would push up costs, Chen added. The European Union's Emissions Trading System (ETS) is set to be extended to the shipping industry starting in January 2024, meaning that large ships entering EU ports will be charged for their carbon dioxide emissions. Chen described the EU initiative as "a natural action that will lead to some interesting effects."

Persons: Bertrand Chen, Chen Organizations: Global Shipping Business Network, CNBC's East Tech West, EU, ETS Locations: Nansha, Guangzhou, China, New

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