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Companies Mercedes Benz Group AG FollowBERLIN, Oct 17 (Reuters) - Mercedes-Benz (MBGn.DE) has struck a preliminary agreement with an offshore wind provider to supply electricity equivalent to 25% of its demand in Germany from 2027 onwards, a spokesperson for the carmaker said on Monday. The energy provider, which the spokesperson declined to name, will reserve the energy for Mercedes-Benz from an offshore wind park under construction in the Baltic Sea. The carmaker, which previously said it aims to cover 70% of its energy demand with renewables by 2030, said in April it was sourcing all its electricity for Germany from green sources from 2022 onwards under purchase power agreements with Statkraft and Enovos. It is also planning to build a wind farm in the northwestern German state of Lower Saxony by 2025 that is able to produce a hundred megawatts of electricity, equivalent to over 15% of the carmaker's annual demand in Germany. Register now for FREE unlimited access to Reuters.com RegisterReporting by Victoria Waldersee; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Companies Holding Company ADMIE IPTO SA FollowATHENS, Oct 10 (Reuters) - Power generation from renewables fully covered Greece's electricity demand over a few hours last week, for the first time in the history of the country's electricity system, its independent power transmission operator IPTO said. IPTO said on Monday that renewables accounted for 100% of the power generation for at least five hours last Friday, reaching a record high of 3,106 megawatt hours at 0800 GMT. "Record of optimism for the country's transition to clean energy, weaning off fossil fuels & ensuring our energy sufficiency," Green Tank tweeted. It plans to have 25 gigawatt of installed renewable energy capacity from about 10 gigawatt now but analysts say Athens might reach that target sooner. IPTO has been investing in expanding the country's power grid to boost power capacity and facilitate the penetration of solar, wind and hydroelectric energy.

WASHINGTON, Sept 29 (Reuters) - The Federal Reserve announced Thursday that six of the nation's largest banks would participate in a pilot climate scenario analysis exercise in 2023. In its announcement, the Fed emphasized the pilot exercise will be strictly for information-gathering purposes, calling it "exploratory in nature." Fed Vice Chair for Supervision Michael Barr said earlier this month the central bank has an "important, but narrow" mandate to police climate risks for banks. The Fed will provide "climate scenario narratives," which banks will use to analyze the impact on their portfolios and business strategies. The Fed will then review those findings with the firms to help them build up their ability to manage climate-related risks.

Companies Xcel Energy Inc FollowSept 29 (Reuters) - More big U.S. companies have tied their CEO pay to climate goals but few give executives much incentive to make significant emissions cuts, a new study shows. Only four other companies tied their executive pay to climate metrics, though they were not as strict about reducing emissions, As You Sow found. Register now for FREE unlimited access to Reuters.com RegisterSome companies may only be trying to look good to investors with vague wording in securities filings about making progress toward cutting emissions, study authors said. As You Sow's study examined all the 47 U.S. companies targeted by the Climate Action 100+ global investor initiative to reduce industrial greenhouse gas emissions. Among the 47, more than half did not directly tie their pay to climate actions, the study shows.

Sept 28 (Reuters) - Texas Attorney General Ken Paxton has joined a multi-state investigation into whether S&P Global Inc (SPGI.N) violated consumer protection laws over its use of environmental, social and governance (ESG) factors in credit ratings. The ESG credit indicators, ESG scores, and ESG evaluations that S&P publishes "appear to politicize what should be a purely financial decision", Paxton said in a statement on Wednesday. The probe is being led by Missouri and underscores a push by Republican-led states against what they see as a "woke" bias at financial companies. Register now for FREE unlimited access to Reuters.com RegisterS&P Global did not immediately respond to a request for comment. Interest in ESG investing has exploded in recent years, prompting ratings agencies to come up with new ways to assess how companies fare on ESG factors.

REUTERS/David GraySummarySummary Companies Net zero push stokes hopes for offshore wind projectsVictoria state aims for 9 GW offshore wind by 2040Sector needs new regulations, to lure technology suppliersIndustry also set to face environmental, landowner concernsMELBOURNE, Sept 27 (Reuters) - Under a new government, Australia is shaping up to be the next big market for offshore wind developers, attracting interest from the likes of Shell, Denmark's Orsted and Norway's Equinor. To many in the industry, Australia could well become the next boom market for offshore wind. Community concerns about the impact of wind turbines on bird life, such as orange-bellied parrots, and sealife, such as fish and whales, are also expected. "There's only a limited number of vessels in the world that can be used for erecting turbines offshore. Victoria state's Gippsland coast first in lineThe state, which has spearheaded the country's offshore wind push, plans to procure 2 gigawatts (GW) of offshore capacity with supply due by 2032, enough to power 1.5 million homes.

The European Commission is set to publish next week a plan to "digitalise" Europe's energy system, as well as laying out new emergency measures to tame sky-high gas prices and help cash-strapped energy firms this winter. The draft plan, seen by Reuters, said electricity grid investments of 584 billion euros are needed until 2030, to support the planned rapid uptake of electric vehicles, renewable energy and heat pumps, and shift away from fossil fuels. Register now for FREE unlimited access to Reuters.com RegisterOf this, around 400 billion euros would target the distribution grid. "Reducing greenhouse gas emissions by 55% and reaching a share of 45% renewables in 2030 can only happen if the energy system is ready for it," the draft said, referring to the EU's climate targets. The EU "action plan", which does not include legal proposals, said the bloc would propose new legislation next year to address cybersecurity risks in energy and gas networks.

French President Emmanuel Macron delivers a speech at the Sub-Prefecture in Saint-Nazaire after a visit at the Saint-Nazaire offshore wind farm, off the coast of the Guerande peninsula in western France, September 22, 2022. Macron, who said in February that he wants France to have about 50 offshore wind farms by 2050, was visiting the country's first, built off Brittany, a project which took ten years to build and which started being connected to the grid this month. "It still takes too much time in France," Macron said, adding that he wants to halve the time it takes to develop renewable energy projects. Macron said he wants France to double the speed of building wind parks in France. Other plans include making it easier to find locations to build wind farms or install solar energy panels.

Standard Chartered (STAN.L), a competitor of HSBC in emerging markets, said earlier this year it would end all direct coal financing for clients by 2032. The Global Coal Exit List, which tracks finance firms' ties to the coal sector, said HSBC's fund arm exposure was $3.4 billion at end-November. HSBC said it will have engaged with all listed companies in its actively managed portfolios with more than 10% of revenues from thermal coal by next year. HSBC said in its 2021 annual report that the bank's thermal coal loan exposure was $1 billion, or 0.2% of its total wholesale loan book. When it comes to holding the boards of companies with significant thermal coal exposure to account, HSBC said its fund arm would vote against the election of board chairs at companies planning to expand production and use of thermal coal.

LONDON, Sept 21 (Reuters) - A sugar-based alternative to vinyl could help to decarbonise the music industry, according to its developer. Acting CEO of Evolution Music Marc Carey said sonically and in terms of equalisation the music recorded on the bioplastic records is "absolutely spot on." 1/5 Marc Carey, CEO of Evolution Music, holds a bioplastic record made with a sugar-based alternative to vinyl, in London, Britain September 8, 2022. A richer sound, cover art and the ability to cradle a vinyl record in the hands contribute to the growing emotional appeal for LPs. "The music industry, the creative arts, should be at the forefront of innovation ... and typically, cultural change is what affects political and social change," Carey said.

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