DIRS.INFO The most relevant business & tech news

[1/4] A view of a computer-rendered image of Climeworks' Mammoth direct air capture plant is seen in this undated handout picture obtained by Reuters, June 28, 2022. Leading the charge, the U.S. government has offered $3.5 billion in grants to build the factories that will capture and permanently store the gas - the largest such effort globally to help halt climate change through Direct Air Capture (DAC) and expanded a tax credit to $180/tonne to bolster the burgeoning technology. The sums involved dwarf funding available in other regions, such as Britain which has pledged up to 100 million pounds ($124 million) for DAC research and development. That compares with $12 billion in federal spending to drive demand for personal and commercial electric vehicles, Boston Consulting Group estimated. Occidental Petroleum has said it is well positioned for federal grants for what could be the biggest Direct Air Capture plants in the world.

He said any new strategy should not require new finance from donor countries or for the banks to accept a lower credit rating. Kerry said if the World Bank and regional development banks could increase their lending by the hundreds of billions of dollars, it could leverage trillions in capital from the private sector and other sources. These calls intensified after World Bank President David Malpass in September initially declined to say at a public event whether he accepts the scientific consensus on global warming, which drew condemnation by the White House. Kerry said he would work with German State Secretary for Economic Cooperation and Development Jochen Flasbarth to develop the plan. "We just need a leadership that's ready to stand up, do what the laws allow," he said.

"Humanity has a choice: cooperate or perish,” Guterres told delegates gathered in the seaside resort town of Sharm el-Sheikh. And our planet is fast approaching tipping points that will make climate chaos irreversible,” he said. Signatories to the 2015 Paris climate agreement pledged to achieve a long-term goal of keeping global temperatures from rising by more than 1.5°C above pre-industrial levels. Guterres said that goal will only stay alive if the world can achieve net zero emissions by 2050. The World Trade Organization, meanwhile, said in a report published on Monday that it should tackle trade barriers for low carbon industries to address the role of global trade in driving climate change.

Search resuls for: "Valerie Volcovici Simon Jessop"

3 mentions found