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☆ We're in the era of heat pumps — a market that experts say is 'set to skyrocket'
▼ + stars: | 2024-05-21 | by ( Pia Singh | ) www.cnbc.com time to read: +10 min

This old technology getting some fresh attention is a trend investors may not want to miss: Heat pumps. Heat pumps provide both air conditioning and heat — all in one device. Heat pumps could play a viable role in this regard," Muhedini said in a research note last week. The DOE also runs a Residential Cold Climate Heat Pump Technology Challenge , which is partnered with Trane, Carrier, and Johnson Controls, among other leading heat pump makers. In the chemicals sector, companies that produce more eco-friendly refrigerants for heat pumps could one day reap the benefits of recent legislation in the U.S. that will ban next year the production of heat pumps that use refrigerants with high levels of global warming potential.

Persons: hasn't, They're, William Thompson, Amantia, Muhedini, Thompson, Johnson, Jefferies, Stephen Volkmann, Trane, Andrew Kaplowitz, Deane Dray, Dray, Lennox, Owens, It's, they've, Nestle Organizations: UBS, McKinsey, Barclays, United Nations, UN, International Energy Agency, Johnson Controls, Carrier, Solutions, Citi, Wednesday, U.S . Department, DOE, Trane, RBC Capital, Johnson, Companies, Rockwell Automation, Honeywell International, Arkema, Unilever Locations: industrials, U.S, Paris, Trane, Monday's, Spain, Switzerland

CHANNELVIEW, Texas — For nearly 20 years, Texas environmental regulators have kept a disturbing secret. AdvertisementTexas Community Health News; Texas Commission on Environmental Quality"Any exposure to a carcinogen increases your risk of developing cancer. AdvertisementTim Doty, a former TCEQ mobile air monitoring expert, at the industrial edge of River Terrace Park in Channelview, Texas. In fact, the agency rarely fines companies that violate Texas air pollution laws. Mark FelixHoneycutt's toxicology division soon took an even more dramatic step to weaken Texas' benzene guidelines.

Persons: Loren Hopkins, Hopkins, Mark Felix, TCEQ, AirToxScreen, AirToxScreen Harris County Attorney Christian Menefee, Menefee, Tim Doty, Doty, Solv, He'd, Glenn Shankle, Kelly Keel, Todd Riddle, Riddle, Lopez, Joe Lopez, Dora, Joel Lopez, Randy Lopez, It's, Joel, Felix Benzene, wildcatters, Houston —, Forbes, Lorenzo de Zavala, Alison Cohen, Cohen, Tim Doty's, Houston Mayor Bill White, Shankle, Michael Honeycutt, Valerie Meyers, Meyers, Mark Felix Meyers, Richard Hyde, John Sadlier, Ryder, Hyde, hadn't, Russell Allen, Matt Baker, Jacintoport, Cloelle Danforth, Public Health Watch —, Danforth, Mark Felix Honeycutt's, Eric Schaeffer, Schaeffer, Honeycutt, Jim Tarr, polluters, upended, Mark Felix Fracking, Barnett, Glenn Shankle —, —, Rick Perry, Perry, Sadlier, David Bower, misstep, Baker, Bower, Michael Burgess, Greg Abbott, Abbott, Mark Felix Meanwhile, Randy, That's, Carolyn Stone, Stone, Carolyn Stone's, Mark Felix The, Cynthia Benson, Benson, Mark Felix Tim Doty, Mark Felix K, Jordan Gass Organizations: Public Health Watch, Texas Commission, Environmental, American Petroleum Institute, Oceanic, Atmospheric Administration, U.S . Navy, Geospatial - Intelligence Agency, General, Health, Public Health, Rice University, Environmental Protection Agency, Texas Community Health, AirToxScreen Harris County Attorney, polluters, Mark Felix Public Health, TCEQ, Solv, Mark Felix Public Health Watch, myelodysplasia, Houston, Oil, Gas Watch, Texas, Houston Ship, University of California, Houston Mayor, ., . Texas Community Health, NASA, Exxon Mobil, Public, Watch, Environmental Defense Fund, Management, Civil, Air Alliance Houston, Republican, Fort, United, Texas toxicologist, EPA, Texas Tribune, Google, Land Office, . Geological Survey, National Oceanic, Firefighters, U.S . Occupational Safety, Health Administration, Channelview, Improvement Coalition, Health Watch, San Jacinto, K, Texas Legislature, Solv Group, Services Locations: , Texas, Texas, Houston, Channelview's Jacintoport, San Jacinto, California, Jacintoport, Channelview , Texas, AirToxScreen Harris County, Channelview, Harris County, United States, North Channelview, Gulf, Terrace, Joel's, Houston , Texas, Spindletop, Mexico, Republic of Texas, Port of Houston, San Francisco, . Texas, That's, polluters, lacquers, Dallas, Fort Worth, Fort Worth City, Austin, Round, Minnesota, Galveston, U.S

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsCompanies PepsiCo Inc FollowNEW YORK, Nov 15 (Reuters) - New York state sued PepsiCo (PEP.O) on Wednesday, accusing the beverage and snack food giant of polluting the environment through its single-use plastic bottles, caps and wrappers. The lawsuit filed in state court in upstate Erie County is among the first by a U.S. state to target a major plastics producer. The lawsuit seeks to force PepsiCo to stop causing a nuisance, clean up contamination, and provide other relief. California in 2022 announced it was conducting an investigation into the fossil fuel and petrochemical industries' role in plastic pollution. Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Shannon Stapleton, Letitia James, PepsiCo, James, Jack, Doritos, Jonathan Stempel, Chizu Nomiyama, Jonathan Oatis Organizations: Pepsi, REUTERS, PepsiCo, Gatorade, Lay's, Thomson Locations: New York, U.S, Erie County, Buffalo, Purchase , New York, Fritos, Lipton, Tostitos . Connecticut, Minnesota, . California

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsCompanies PepsiCo Inc FollowNEW YORK, Nov 15 (Reuters) - New York state sued PepsiCo (PEP.O) on Wednesday, accusing the beverage and snack food giant of polluting the environment and endangering public health through its single-use plastic bottles, caps and wrappers. The lawsuit filed in state court in upstate Erie County is among the first by a U.S. state to target a major plastics producer. "All New Yorkers have a basic right to clean water, yet PepsiCo's irresponsible packaging and marketing endanger Buffalo’s water supply, environment, and public health," she said in a statement. The New York lawsuit also said PepsiCo has deceived consumers by announcing various targets to reduce the amount of non-recycled plastic it uses in packaging, although it has actually increased its usage. The lawsuit seeks to force the Purchase, New York-based company to stop causing a nuisance, clean up contamination and pay for damages caused by plastic waste.

Persons: Shannon Stapleton, Letitia James, PepsiCo, James, Jack, Doritos, Judith Enck, Obama, Clark Mindock, Jonathan Stempel, Chizu Nomiyama, Jonathan Oatis, Alexia Garamfalvi Organizations: Pepsi, REUTERS, PepsiCo, The New, Gatorade, Lay's, Plastics, Environmental Protection Agency, Thomson Locations: New York, U.S, Erie County, Buffalo, The New York, , New York, Fritos, Lipton, Connecticut, Minnesota, . California

Kenya's President William Ruto called the treaty “the first domino” in a shift away from plastic pollution. The U.N. Intergovernmental Negotiating Committee on Plastic Pollution is charged with developing the first international, legally binding treaty on plastic pollution on land and at sea. Kenya is a global leader in fighting plastic pollution, and in 2017, the country banned the manufacture, sale and use of single-use plastic bags. Nonetheless, he said, it is evident that negotiations have moved beyond plastic waste and into addressing plastic production and toxic chemicals used to make plastic. “The focus is on ending plastic pollution, not plastic production," he said.

Persons: Gustavo Adolfo Meza, Cuadra Velasquez, William Ruto, ” Graham Forbes, ” Eirik Lindebjerg, Björn Beeler, haven't, IPEN, Chris Jahn, Karen McKee, Jahn, ___ McDermott Organizations: United Nations Environment, Global, reconvening, Intergovernmental, UNEP, Greenpeace, World Wildlife Fund, Plastics, Industry, International Council of Chemical Associations, ExxonMobil, Solutions Company, AP Locations: NAIROBI, Kenya, Kenya's, Nairobi, Paris, Punta del Este, Uruguay, Norway, Rwanda, Saudi Arabia, Iran, China, Russia, United States, Baytown , Texas, Baytown, Providence , Rhode Island

☆ Gulf stocks mixed amid rate hike woes; Egypt outperforms
▼ + stars: | 2023-09-24 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +1 min

The Qatari benchmark stock index (.QSI) fell 0.3%, dragged down by almost all the sectors with financials leading the declines. Qatar National Bank (QNBK.QA), the Gulf's biggest lender, was down 0.7% while heavyweight Commercial Bank (COMB.QA) dropped 1.3%. Kuwait's premier market index (.BKP) fell 1.6%, its 7th consecutive session of losses, as most of its constituents were in negative territory. Outside the Gulf, Egypt's blue-chip index (.EGX30), closed up 0.6%, hitting an all-time high. Reporting by Shamsuddin Mohd in Bengaluru; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Shamsuddin, Emelia Sithole Organizations: Federal, Gulf Cooperation, greenback, Qatar National Bank, Commercial Bank, Chemical Industries, Misr Fertilizer, Stock, UAE bourse, Thomson Locations: Abu, Saudi Arabia, UAE, Bengaluru

☆ Emirati company buys 30% stake in Egypt tobacco firm Eastern Co.
▼ + stars: | 2023-09-03 | by ( ) www.reuters.com time to read: +2 min

The sale will reduce Chemical Industries' stake to 20.95%, giving impetus to Egypt's floundering privatisation programme. Global Investment will provide $150 million to buy the tobacco necessary for production as part of the agreement. The deal "is an affirmation of the government's determination to ... encourage direct private investment in various sectors," the cabinet statement said. Egypt's government sold 4.5% of Eastern Co. on the stock exchange in 2019, leaving the holding company with a majority stake. Egypt desperately needs foreign currency after the COVID pandemic and Ukraine crisis exposed vulnerabilities in its economy.

Persons: Mostafa Madbouly, Momen Saeed Atallah, Adam Makary, Hatem Maher, Patrick Werr, Ros Russell Organizations: Global Investment Holding, Eastern Co, Holding Company, Chemical Industries, Global Investment, International Monetary, Thomson Locations: CAIRO, Eastern, Egypt, Ukraine

☆ Column: US offshore wind sector faces key test after weak Gulf auction
▼ + stars: | 2023-08-30 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

REUTERS/Brian Snyder/File Photo Acquire Licensing RightsLITTLETON, Colorado, Aug 29 (Reuters) - The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden's green energy agenda, and the U.S. offshore wind sector in general. U.S. officials had touted the auction as a key milestone in Biden's agenda to make offshore wind a cornerstone of U.S. efforts to fight fossil-fuel-driven climate change. In addition to lower wind speeds and hurricane risks, potential wind farm developers in the Gulf waters must also accommodate relatively lower local power market prices than other parts of the United States, which greatly undermines wind power earning potential in the region. As offshore wind power systems are still in their relative infancy compared with other power sources, the average cost of power generated from offshore sites can be twice the cost of that from a gas-fired plant. Without a viable offshore wind sector, those industries may now struggle to secure the quantities of green hydrogen they may be anticipating in coming decades, and so could look for ways to support the wind sector's development in the years ahead.

Persons: Brian Snyder, Joe Biden's, Biden, hesitancy, Gavin Maguire, Matthew Lewis Organizations: U.S . Coast Guard, REUTERS, Offshore, U.S ., Gulf, Shell, Reuters, Thomson Locations: Rhode, LITTLETON , Colorado, Gulf, Mexico, U.S, Louisiana, Northeast, Texas, United States, U.S . East Coast , New York, New Jersey, Gulf Coast, Gulf of Mexico, Littleton , Colorado

☆ America’s new China curbs eschew scale for smarts
▼ + stars: | 2023-08-10 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

The White House on Wednesday took the wraps off its proposal for screening investments U.S.-based funds make abroad, giving President Joe Biden a new tool for “de-risking” from China. But while the government’s inbound-investment reviews have often proven onerous, the pitch for outbound screening should placate investors and even diplomats. If recipients boast close ties to Chinese military or intelligence capabilities, the department could then block the transaction. Follow @BenWinck on TwitterCONTEXT NEWSU.S. President Joe Biden on Aug. 9 issued an executive order that tasks the Treasury Department with forming an outbound investment screening program. In response to the executive order the Treasury Department issued an Advanced Notice of Proposed Rulemaking seeking comment on the program.

Persons: Joe Biden, Jonathan Ernst, Janet Yellen’s, Antony Currie, Katrina Hamlin Organizations: Auburn Manufacturing, REUTERS, Reuters, Washington, Wednesday, Biden, Regulators, Treasury, Department, Treasury Department, Thomson Locations: U.S, Auburn , Maine, WASHINGTON, China, Washington

☆ Global power demand growth to rebound in 2024 after slowdown, IEA says
▼ + stars: | 2023-07-19 | by ( Forrest Crellin | ) www.reuters.com time to read: +3 min

PARIS, July 19 (Reuters) - An ongoing energy crisis and an economic downturn is expected to slow global power demand growth in 2023, but a probable rebound in 2024 means more renewable capacity needs to be developed, the International Energy Agency (IEA) said on Wednesday. For 2024, the rate is expected to rise to 3.3%, as the economic outlook improves, the IEA data showed. The Paris-based agency predicted renewable energy would cover the expected growth this year and next and power from renewable sources would exceed one third of the total global power supply for the first time next year. In the first half this year, the EU recorded a 6% decline in power demand as energy-intensive industries, including aluminum, steel, paper, and chemical industries, cut their use in response to high prices. Increased use of cooling to cope with summer heatwaves is expected to drive the demand growth there this year.

Persons: Forrest Crellin, Barbara Lewis Organizations: International Energy Agency, European Union, EU, Thomson Locations: Paris, Spain, China, India, Ukraine, Europe, United States, Japan, Korea

☆ US slaps sanctions on Iranian, Chinese targets over Tehran's missile, military programs
▼ + stars: | 2023-06-06 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +3 min

Iran's mission to the United Nations in New York and China's embassy in Washington did not immediately respond to requests for comment. China has been a major buyer of Iranian oil despite U.S. sanctions designed to choke off these exports. Washington targeted centrifuge sales to Parchin Chemical Industries (PCI), dual-use metals sales to its intermediary, P.B. Co., Ltd, which the Treasury accused of selling centrifuges and other equipment and services worth hundreds of thousands of dollars to PCI with P.B. Sadr and PCI, as well as the other companies, could not immediately be reached for comment.

Persons: Davoud Damghani, Brian Nelson, Sadr, Zhejiang Qingji, Daphne Psaledakis, Doina Chiacu, Susan Heavey, Arshad Mohammed, David Brunnstrom, Chizu Nomiyama, Mark Heinrich Our Organizations: . Treasury, Armed Forces Logistics, Terrorism, Financial Intelligence, United Nations, Parchin Chemical Industries, PCI, Zhejiang Qingji, P.B, Treasury, Hong, Hong Kong Ke.Do International Trade Co, Qingdao Zhongrongtong Trade, Co, Thomson Locations: United States, Iran, China, Hong Kong, Beijing, U.S, Washington, Tehran, New York, . Sadr, Zhejiang, Zhejiang Qingji Ind, Sadr, Qingdao

☆ Gulf stocks rise on hope of slower Fed rate hikes
▼ + stars: | 2023-01-29 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

Jan 29 (Reuters) - Stock markets in the Gulf ended higher on Sunday after cooling U.S. inflation lifted expectations the Federal Reserve would slow its pace of interest rate hikes. Saudi Arabia's benchmark index (.TASI) rose 0.2%, supported by gains in financial and energy sector stocks. The Qatari Stock index (.QSI) rose 0.4%, with most of its constituent stocks in positive territory. The bank reported Tuesday a more than 22% rise in FY net profit, beating analyst's expectations. Outside the Gulf, Egypt's blue-chip index (.EGX30) surged 3.7%, its highest intraday rise since November.

☆ Gulf shares start new year in upbeat mood, Egypt outperforms
▼ + stars: | 2023-01-02 | by ( Shamsuddin Mohd | ) www.reuters.com time to read: +3 min

Jan 2 (Reuters) - Most major Gulf equities got off to a good 2023 start on Monday, with Egypt outperforming regional peers, as investors shrugged off concerns about a potential recession, crude oil demand and the U.S. Fed hiking rates further. Crude prices, which are highly correlated with Gulf financial markets, swung wildly in 2022 and are expected to remain under pressure in 2023. Abu Dhabi's index (.FTFADGI) advanced 0.4% on Monday, bolstered by a 0.6% increase in the country's largest lender First Abu Dhabi Bank (FAB.AD). The Qatari index last year posted its first annual loss since 2017, dropping 8.1% in 2022. Outside the Gulf, Egypt's blue-chip index (.EGX30) closed 2.5% higher, with Commercial International Bank Egypt (COMI.CA) climbing 3.1% while Abu Qir Fertilizers And Chemical Industries (ABUK.CA) was up 5.2%.

LISBON, Dec 8 (Reuters) - Portugal wants to speed up investments in green hydrogen projects, which are essential to decarbonize the economy, and will end mandatory environmental assessments for them in March 2023, Prime Minister Antonio Costa said. Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.51 billion). Environmentalists have criticized the so-called Simplex package as it may have impacts on nature and the well-being of populations. Portugal's largest utility EDP (EDP.LS) and oil and gas company Galp Energia (GALP.LS) are both planning to build green hydrogen plants in the industrial hub of Sines. The three main glass producers and two biggest cement makers, together accounting for 10% of the country's industrial carbon emissions, also joined a new consortium to launch a green hydrogen plant.

Yonhap via REUTERSSEOUL, Dec 8 (Reuters) - South Korea ordered striking truckers in the steel and petrochemical industries to return to work on Thursday, widening a back-to-work decree beyond the cement industry amid a prolonged nationwide strike that has disrupted supply chains. During opening remarks at a televised meeting of the country's cabinet, Prime Minister Han Duck-soo told the members to issue the "start work" order. Tens of thousands striking truckers are demanding a minimum wage programme be permanent and broader. Last week, the government issued a "start work" order to force 2,500 striking drivers in the cement industry back on the road. The "start work" order last month was the first time the government had forced striking workers back on the job.

☆ Factbox: Saudi-China energy, trade and investment ties
▼ + stars: | 2022-12-06 | by ( ) www.reuters.com time to read: +4 min

Below are some details about oil, trade and security relations between China and Saudi Arabia. OIL TRADEChina is Saudi Arabia's largest trading partner, with bilateral trade worth $87.3 billion in 2021. Chinese exports to Saudi Arabia reached $30.3 billion, while China's imports from the kingdom totalled $57 billion. REFINERIESAramco in early 2022 made a final investment decision to build a $10 billion refinery, petrochemical complex in northeast China, marking its single largest investment in China. Named Huajin Aramco Petrochemical Company, the joint venture groups Aramco, Huajin Chemical Industries Group Corporation (000059.SZ) -- a unit of defence conglomerate Norinco-- and Panjin Xincheng Industrial Group.

☆ Big brands set to miss plastic sustainability targets
▼ + stars: | 2022-11-02 | by ( Joe Brock | ) www.reuters.com time to read: +2 min

The study by the Ellen MacArthur Foundation and the United Nations Environment Programme also revealed that some companies - including Coca-Cola (KO.N) and Pepsi - are using more virgin plastic despite a pledge to reduce its use. Dozens of major brands have in recent years set targets to increase plastic recycling and reduce the use of single-use packaging in partnership with the Ellen MacAurthur Foundation, as part of efforts to burnish their green credentials. The headline pledge was that 100% of plastic packaging would be reusable, recyclable or compostable by 2025, but this goal will "almost certainly be missed by most organisations", the environmental group's report said. Greenpeace said the report is evidence that voluntary corporate targets have failed and called on the U.N. to forge a treaty that forces governments and companies to use less single-use plastic packaging. "This underlines the need for governments to ensure that the global plastic treaty ... delivers major reductions in plastic production and use," said Graham Forbes, Greenpeace’s USA Global Plastics Project Leader.

☆ Russia's invasion of Ukraine has accelerated a nuclear renaissance. Europe's nuclear startups have raised a record $403 million in 2022.
▼ + stars: | 2022-11-01 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

Nuclear power has long been shunned by policymakers due to disasters like Chernobyl and Fukushima. Rising energy costs caused by Russia's invasion of Ukraine have sparked a nuclear resurgence. For most, nuclear energy sparks memories of the large-scale disasters at Fukushima and Chernobyl. To generate energy via nuclear fusion, two atoms have to be combined – the same process that fuels the sun. Both are needed to fight climate change, according to Aneeqa Khan, a nuclear fusion research fellow at the Dalton Nuclear Institute.

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