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Steel producers are estimated to produce 7-9% of all harmful emissions, according to the World Steel Association. Boston Metal makes parts for cells in which electricity splits iron ore, creating liquid iron and no byproducts or emissions apart from oxygen. "What is the point of having an electric car running on a battery and carrying dirty steel?" ArcelorMittal's investment marks a shift in steel companies' willingness to invest in the technology since Boston Metal first went out looking for funding in 2018, Carneiro said. Now all the steelmaking companies are very interested in following what we are doing because they need a solution."

Jan 24 (Reuters) - Shareholder resolutions filed by New York City's top pension official will ask top Wall Street banks including JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) to set stricter 2030 greenhouse gas emissions reduction targets for portfolio companies. The new resolutions ask banks including Bank of America, Goldman Sachs Group (GS.N) and JPMorgan to commit to reducing emissions in their energy lending and underwriting. Lander cited plans outlined last year by Citigroup (C.N) for emissions across its energy loan portfolio to drop 29% by 2030 from 2020. Currently the other three banks have goals to reduce the "emissions intensity" of their financing, a measure of emissions relative to output that climate activists say does not go far enough. Representatives for JPMorgan, Bank of America and Goldman Sachs declined to comment on the resolutions.

Rather surprisingly, research firm Corporate Knights says the answer is Schnitzer Steel Industries (SCHN.O), a U.S. scrap steel recycler, which has knocked wind turbine maker Vestas Wind off the top spot. "Schnitzer Steel is the first steel company to top the Global 100," said Corporate Knights CEO Toby Heaps. "If one of the world's dirtiest sectors can produce the most sustainable company in the world, then there is no excuse for any company in any sector not to step up." In 2022, the Global 100 beat the ACWI on an annual returns basis by 2.8% though both were significantly down on 2021 at -15.6% and -18.4% respectively. Between 2013 and 2022, the Global 100 returned 145.1% compared to 115.4% for the MSCI ACWI.

But this could present an opportunity to address shortages of homes, property bosses said. "Office buildings need to be converted to residential," said Howard Lutnick, chairman and CEO of New York-based investment firm Cantor Fitzgerald, during a panel discussion. Offices are emptier than official data suggests as most buildings are still generating income for landlords. However, as these rental contracts expire, cities like New York will have a significant number of obsolete buildings, said Christian Ulbrich, CEO of global property consultancy JLL Inc. (JLL.N). Millions of workers were forced to work from home during lockdowns aimed at stalling the spread of COVID-19 in 2020.

PARIS, Jan 18 (Reuters) - France's hardline CGT union has threatened to cut off electricity supplies to lawmakers and billionaires before a nationwide strike on Thursday, in an increasingly acrimonious showdown over the government's plan to raise the retirement age. "I suggest they also go see the nice properties, the nice castles of billionaires," Philippe Martinez, leader of the CGT, France's second-largest trade union, told France 2 television on Wednesday. In recent days, Sebastien Menesplier, of the hardline CGT's energy and mine branch, has also threatened electricity cuts targeting the offices of MPs, local media quoted him as saying. Government spokesman Olivier Veran said threats to cut electricity were "unacceptable." Seven out of 10 primary school teachers will walk off their job, as will many refinery workers, unions and transport operators said.

SINGAPORE, Jan 18 (Reuters) - General Electric's (GE.N) turbine manufacturing unit said on Wednesday it had agreed with Japan's IHI Corp (7013.T) to develop gas turbines operating on ammonia to reduce carbon dioxide emissions. GE and IHI would work to develop technology that would allow some of GE's existing gas turbine products to safely burn 100% ammonia by 2030, the companies each said in separate, almost identical statements on Wednesday. "We will focus our efforts on satisfying domestic and overseas demand for large-scale ammonia gas turbines, stimulating further demand for fuel ammonia and expanding the fuel ammonia value chain," Hiroshi Ide, president of IHI Corp said. Reporting by Sudarshan Varadhan; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

The EU is concerned that European companies will move to the United States, which has a $369 billion scheme to subsidise green production. The EU will therefore provide money for its industry as well, von der Leyen said. "To keep European industry attractive, there is a need to be competitive with the offers and incentives that are currently available outside the EU," she said. For the medium term, we will prepare a European Sovereignty Fund as part of the mid-term review of our budget later this year," von der Leyen said. She said the Commission was now working on what the needs of the green industry were.

CAIRO, Jan 15 (Reuters) - The United States and United Arab Emirates announced on Sunday that the first $20 billion of their $100 billion clean energy partnership would be allocated to fund 15 new gigawatts of renewable energy projects before 2035, state news agency WAM said. The investments would be led by UAE's Masdar and a consortium of US private investors, and financed through $7 billion in private sector cash equity and $13 billion in US debt financing and other instruments, WAM said. Reporting by Nayera Abdallah and Nafisa EltahirOur Standards: The Thomson Reuters Trust Principles.

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