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It's clear how that will end.”Germany’s constitutional court has voided some 60 billion euros ($65 billion) in spending for this year and next. Without yet another emergency declaration next year, the government would have to scramble to cover shortfalls of roughly 30 billion to 40 billion euros — plus 20 billion to 30 billion euros for 2025 — compared with earlier plans, according to Holger Schmieding, chief economist at Berenberg bank. The fallout has left Germany projected to be the worst-performing major economy this year, shrinking by 0.5%, according to the International Monetary Fund. That has led to calls from some to loosen the debt limits because they restrict the government's response to new challenges. Yet even some opposition state governors have said the debt limits should be loosened.

Persons: Chancellor Olaf Scholz, “ We've, Robert Habeck, “, ”, Holger Schmieding, Schmieding, Free Democrats doesn't, Kai Wegener Organizations: U.S, International Monetary Fund, Industry, Volkswagen, BMW, Mercedes, Benz, Seven, Social Democrats, Greens, Free Democrats, Christian Democrats, Berlin Locations: FRANKFURT, Germany, Ukraine, Russia, China, Berenberg, East Germany, Europe, Britain, U.S, Italy, Japan

☆ Germany to Override Debt Limit, Again, to Resolve Budget Crisis
▼ + stars: | 2023-11-28 | by ( Melissa Eddy | ) www.nytimes.com time to read: +1 min

Chancellor Olaf Scholz urged lawmakers on Tuesday to override Germany’s borrowing limits for a fourth consecutive year, allowing his government to take on billions of euros in fresh debt to modernize his country’s economy despite a budget crisis triggered a constitutional court ruling. “It would be a grave, unforgivable mistake to neglect the modernization of our country in the face of all these acute challenges,” Mr. Scholz told Parliament, citing persistently high energy prices and the wars in Ukraine and the Middle East. Afterward, a powerful leader of the opposition Christian Democrats signaled he may be wiling to accept Mr. Scholz’s plan, a sign that the fiscal crisis that has gripped Germany for two weeks and threatened to fracture the government’s three-party coalition may begin to ease. Germany’s highest court on Nov. 15 threw out a special fund set up by the government that shifted credits approved in 2020 to combat the coronavirus pandemic to instead finance environmental projects and green technology. The court ruled that credits taken out in a given year for a specific purpose had to be spent within that time, and for the designated purpose.

Persons: Olaf Scholz, ” Mr, Scholz, Scholz’s Organizations: Democrats Locations: Ukraine, Germany

The United States, European Union and many climate-vulnerable countries are insisting on a final COP28 deal that commits countries to phase out fossil fuels. While the International Energy Agency says these emissions-abatement technologies are crucial for meeting global climate goals, they are also expensive and not currently used on a large scale. But the EU and some climate-vulnerable countries insist on pairing this pledge to boost renewables with phasing out fossil fuels, setting up a clash. FINANCING FOR THE COSTS OF CLIMATE CHANGETackling climate change and its consequences will take an astonishing amount of investment - far more than the world has budgeted so far. At COP28, countries will be tasked with setting up a "loss and damage" fund to help with this, which developing nations say should unlock at least $100 billion by 2030.

Persons: Sultan al, Jaber, Kate Abnett, Katy Daigle, Josie Kao Organizations: European, COP28, International Energy Agency, European Union, EU, U.S, United Arab Emirates, Thomson Locations: Dubai, Paris, COP26, United States, European Union, Russia, UAE, EU, China, COP28

☆ From construction workers to electricians, these are the infrastructure jobs set to boom in the next few years
▼ + stars: | 2023-11-20 | by ( Madison Hoff | ) www.businessinsider.com time to read: +7 min

Insider looked at employment projections for work related to construction and infrastructure. Both white-collar and blue-collar jobs are poised to boom, with demand for construction laborers and truck drivers, as well as business services. President Joe Biden is also behind the need for more infrastructure construction. Construction and infrastructure jobs are growingConstruction laborers are projected to see employment growth of 61,900 from 2022 to 2032. This job typically requires a postsecondary nondegree award for entry and long-term on-the-job training for competency.

Persons: —, Hannah Jones, Joe Biden, Kit Dickinson, Ed Brady, remodelers, Carpenter, Dickinson, Nela Richardson, Brady, Organizations: Service, Law, Georgetown University Center, Education, Workforce, Bureau of Labor Statistics, Home Builders Institute, National Association of Home Builders, BLS

A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. "We need to build a funding model for green tech companies," Chuka Umunna, JP Morgan's (JPM.N) head of EMEA ESG and green economy investment banking, told the Reuters Energy Transition Europe 2023 event in London. This was partly because of the capital requirements for some green tech firms in early stages of development, he said. Investment into green tech was also being stymied by bureaucracy, including delays to permitting for the infrastructure needed for renewable energy and other projects. Umunna also said a shift to a greener, lower-carbon economy offered up a huge opportunity for banks such as JP Morgan.

Persons: Morgan Chase, Mike Segar, Morgan, Umunna, JP Morgan's, JP Morgan, Simon Jessop, Tommy Reggiori Wilkes, David Goodman, Alexander Smith Organizations: Co, New York City, REUTERS, EMEA, Reuters, Capital, British, Investment, Thomson Locations: New York, London, Europe

The EU's proposed "Euro 7" law would tighten limits on health-harming pollutants from combustion engine cars. The European Commission, which drafts new EU laws, has said the health benefits would far outweigh the costs. However, EU countries and lawmakers - which are in charge of negotiating the final law in the coming months - have each agreed to weaken the rules. Green lawmakers criticised the vote as a missed chance to reduce the roughly 70,000 premature deaths per year in Europe attributed to vehicle pollution. "The EU is missing the opportunity to be the future leader in green technology," Green EU lawmaker Bas Eickhout added.

Persons: Yves Herman, Alexandr Vondra, Bas Eickhout, Adolfo Urso, Kate Abnett, Alvise Armellini, Sharon Singleton Organizations: REUTERS, Rights, New, European Commission, Commission, Italy's Industry, EU, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Union, Europe, Italy, Czech Republic

☆ Britain tells pension funds change needed to improve returns
▼ + stars: | 2023-10-25 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

The government wants to persuade pension schemes to invest some of their funds in infrastructure as well as startups and green technology. Ten companies have now voluntarily committed to invest 5% of their pension funds, or about 50 billion pounds in total, in unlisted companies by 2030. "I think we have got too many pension funds in this country, and I do want to see an industry where we end up with fewer, larger funds," Hunt told an event to take stock of the initiative. He said he wanted to see larger funds with the confidence to invest in growth companies. Delfas said fewer, larger and well run schemes were needed, and it was time to consolidate pension funds that lack expertise, scale and appetite to deliver better returns to savers into funds that do.

Persons: Jeremy Hunt, Hunt, Aon, Delfas, Huw Jones, Sachin Ravikumar, Jane Merriman Organizations: Insurance, British Private Equity, Venture Capital Association, British Business Bank, Pensions, Thomson Locations: Britain

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ Canada to give Belgium's Umicore up to C$1 bln for new battery components plant
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Oct 16 (Reuters) - Canada and the province of Ontario will give up to C$1 billion to a unit of Belgium's Umicore (UMI.BR) to help it build a plant that will produce components for electric vehicle batteries, Ottawa said on Monday. The plant - the first of its kind in North America - will initially employ 600 people and have a battery materials production capacity of 35 gigawatt hours annually. Canada, home to a large mining sector for minerals such as lithium, nickel and cobalt, wants to woo firms involved in all levels of the electric vehicle (EV) supply chain via a multibillion-dollar green technology. The Umicore plant is due to be built in stages and could be worth C$2.7 billion when fully completed. Canada will invest up to C$551.3 billion with Ontario adding up to C$424.6 billion.

Persons: Francois, Philippe Champagne, Champagne, David Ljunggren, David Gregorio Our Organizations: OTTAWA, Thomson Locations: Canada, Ontario, Ottawa, Loyalist Township, North America

☆ One sector in China is beating the slowdown — 3 stocks to play it including one with 80% upside
▼ + stars: | 2023-10-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

After Beijing cracked down on real estate developers' high debt levels, banks and other financial institutions drastically pulled back on lending to those companies. Meanwhile, China's latest development plans have emphasized advanced manufacturing — production of goods of higher value than apparel and other lower-cost goods Chinese factories have been known for. But analysts increasingly realize that the high-growth days of real estate are over, weighing further o n the economy in the near term. Oxford Economics expects the economy to slow to a 4.4% pace in 2024 and 4.0% in 2025, dragged down by real estate. China is set to release third-quarter GDP, retail sales, industrial production and fixed asset investment on Wed., Oct. 18.

Persons: That's, hasn't, Banks, Gill, Kharas, Louise Loo, Loo, Brian Tycangco Organizations: People's Bank of China, Oxford, Stansberry Research, HSBC, World, Network Locations: China, Beijing, Oxford, Friday's

☆ China’s economy will be hobbled for years by the real estate crisis
▼ + stars: | 2023-10-06 | by ( Laura He | ) edition.cnn.com time to read: +10 min

Absorbing this “excess capacity” in the property sector will inevitably hurt China’s economic growth, according to Garcia-Herrero. The money from the sales funded their breakneck expansion, making real estate moguls some of the country’s richest people. The strategy largely worked until about three years ago when the Chinese government cracked down on excessive borrowing by the real estate industry because it was worried about the risk of financial instability. But overall, the property sector has contracted severely as it adjusts to a collapse in demand. “A fundamental rewiring of China’s economy will necessitate a focus on developing new industries, improving productivity, and bolstering rental markets,” said analysts from Stanford University and the ASPI.

Persons: ”, Alicia Garcia, Herrero, Garcia, they’re, Evergrande, Xu Jiayin, Xi Jinping, ” Mark Williams, Sheana Yue, Zichuan Huang, “, — Michelle Toh Organizations: Hong Kong CNN, Investment, Asia Pacific, Getty, Bank, International Monetary Fund, IMF, Regulators, Capital Economics, People’s Bank of China, Oxford Economics, Stanford University, Asia Society Policy Institute, Oxford Locations: China, Hong Kong, Beijing, Natixis, Wuhan, China's, Hubei, Japan

☆ Dominic Chopping — Senior Reporter at The Wall Street Journal
▼ + stars: | 2023-09-25 | by ( Dominic Chopping | ) www.wsj.com time to read: 1 min

Dominic ChoppingDominic Chopping is a senior reporter for The Wall Street Journal and Dow Jones Newswires in Stockholm, where he manages Nordic and Baltic real-time news, covering companies, economies, forex, macroeconomics and general news in the region. He publishes news flashes and writes breaking news stories and analytical pieces. In addition to his regular coverage of regional corporate heavyweights such as Ericsson, Nokia, H&M and Volvo, he frequently reports on Scandinavian monetary policy and has recently expanded his coverage to include start-ups in the green technology space. Before moving to Sweden, Dominic worked on the U.K. corporate real-time desk in London, covering stocks from FTSE100 majors to small AIM-listed growth businesses. He joined Dow Jones in 1999 after starting his career in the industry as a U.K. data editor at Financial Times Information.

Persons: Dominic, Dow Jones Organizations: Wall Street Journal, Dow, Nordic, Ericsson, Nokia, Volvo, AIM, Financial Times Information Locations: Stockholm, Baltic, Sweden, London

☆ Canada, Japan agree to work more closely on battery supply chains
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Sept 21 (Reuters) - Canada and Japan on Thursday agreed to work more closely together to establishing sustainable and reliable global battery supply chains, the Canadian government said in a statement. The two sides signed a memorandum of cooperation on the supply chains during a visit by Japanese Industry Minister Yasutoshi Nishimura, it said, but gave no details. Canada, home to a large mining sector for minerals such as lithium, nickel and cobalt, wants to woo firms involved in all levels of the electric vehicle (EV) supply chain via a multibillion-dollar green technology. "As worldwide demand shifts increasingly towards cleaner forms of energy, Canada's critical minerals resources and battery supply chains will play a vital role in how we get there," said Natural Resources Minister Jonathan Wilkinson. Reporting by David Ljunggren; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Yasutoshi Nishimura, Jonathan Wilkinson, David Ljunggren, Chizu Organizations: Japanese Industry, Natural, EV, Thomson Locations: OTTAWA, Canada, Japan, Quebec

LONDON (AP) — Prime Minister Rishi Sunak announced Wednesday that he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030, watering down climate goals that he said imposed “unacceptable costs” on ordinary people. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government’s change of plan. Ford U.K. head Lisa Brankin said the company had invested 430 million pounds ($530 million) to build electric cars in Britain.

Persons: Rishi Sunak, Sunak, ”, Boris Johnson, backtrack, Prince William —, Will McCallum, Lisa Brankin, Richard Burge, Tara, Hargreaves Lansdown, Clee, Sadiq Khan, Alok Sharma, Peter Cox Organizations: —, Conservative Party, Former, United Nations General Assembly, Greenpeace, Ford, London Chamber of Commerce and Industry, Britain’s Conservatives, Labour, London’s Labour, BBC, Global Systems Institute, University of Exeter Locations: New York, Britain, London Uxbridge, Glasgow

LONDON (AP) — Prime Minister Rishi Sunak is preparing to water down some of Britain's environmental commitments on Wednesday, saying the country must fight climate change without penalizing workers and consumers. “For too many years, politicians in governments of all stripes have not been honest about costs and trade-offs," Sunak said. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero greenhouse gas emissions by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government's apparent change of plan.

Persons: Rishi Sunak, Sunak, backtrack, Prince William —, Doug Parr, ”, Parr, Mike Hawes, Lisa Brankin, Tara, Hargreaves Lansdown, ” Copp, Sadiq Khan, “ We’re, Suella Braverman, Alok Sharma Organizations: —, Conservative Party, United Nations General Assembly, Greenpeace, Society of Motor Manufacturers, Traders, Ford, ” Britain's, Labour, London’s Labour, BBC Locations: Britain, New York, London Uxbridge, Glasgow

Meanwhile, two indoor farming companies that attracted strong startup money — New Jersey's AeroFarms and Kentucky's AppHarvest — filed for bankruptcy reorganization. Advocates say growing indoors uses less water and land and allows food to be grown closer to consumers, saving on transport. Tom Kimmerer, a plant physiologist who taught at the University of Kentucky, has tracked indoor farming alongside his research into the growth of plants both outdoors and inside. He said some companies may be struggling to scale up, with problems that come from launching in spaces that aren't necessarily built specifically for indoor farming. Several of the companies say they're on the right track.

Persons: AppHarvest —, Jacob Portillo, Eden Green, that’s, ”, It's, they’re, Tom Kimmerer, “, Kimmerer, Hannah Burrack, you’re, ” Burrack, Evan Lucas, he's, Lucas, Eden, Eddy Badrina, Arama Kukutai, Matt Ryan, Curt Covington, isn't, “ It's, ” Covington, ___ Walling, Joshua A, Bickel, ___, Melina Walling Organizations: Eden Green Technology, Kroger, University of Kentucky, Michigan State University, Northern Michigan University, Eden Green, Walmart, AgAmerica, Associated Press, AP Locations: CLEBURNE, Texas, Dallas, Eden, Cleburne, California, Detroit, Elmwood, Farm, Lexington , Kentucky, Plenty, Chicago, Georgetown , Kentucky, Georgetown, ___

☆ Brazil to end import tax exemption for electric vehicles, says official
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, Sept 15 (Reuters) - Brazil will end a tax exemption for importing electric vehicles, gradually raising the duty to 35% over three years, Industry Ministry official Uallace Moreira told Reuters on Friday. Brazil-based carmakers lobbied for the measure, overcoming pushback from Chinese manufacturers who sell electric vehicles in the country. This week, the European Commission launched an investigation into whether to impose punitive tariffs to protect European Union producers against cheaper Chinese electric vehicle imports it says are benefiting from state subsidies. The new program will stimulate energy efficiency projects using tax credits, as well as create a mechanism that Moreira called "green taxation." The plan would stagger the collection of a tax on industrialized products, depending on the energy efficiency of the vehicle models, the recyclability of the products and local production density.

Persons: Uallace Moreira, carmakers, Geraldo Alckmin, Moreira, Bernardo Caram, Diane Craft Organizations: Industry Ministry, Reuters, Industry, European Commission, European Union, Thomson Locations: BRASILIA, Brazil

☆ Solus unit to build Canada copper foil facility as part of EV battery push
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Sept 5 (Reuters) - A unit of South Korea's Solus Advanced Materials (336370.KS) will build a copper foil facility in the Canadian province of Quebec, producing technology for electric vehicle (EV) batteries, Ottawa said on Tuesday. "Canada is a partner of choice when it comes to the future of the automotive sector," Champagne said in a statement. The Volta plant is expected to employ 260 people. Granby is close to Becancour, a small town to the east of Montreal seeking to become an EV supply chain hub. Last month a consortium of Ford Motor Co F.N and South Korean companies said they would build a C$1.2 billion plant to produce EV battery materials in Becancour.

Persons: Francois, Philippe Champagne, Champagne, David Ljunggren, Josie Kao Organizations: Volta Energy Solutions, Ford Motor Co, Thomson Locations: OTTAWA, KS, Canadian, Quebec, Ottawa, Granby, Canada, Becancour, Montreal

☆ Ford, partners pick Canada for $900 mln battery materials plant
▼ + stars: | 2023-08-17 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

The Ford logo is seen on the grill of an E-transit concept vehicle at the Ford Halewood transmissions plant in Liverpool, Britain, December 1, 2022. The consortium includes South Korean partners EcoProBM (247540.KQ) and SK On Co Ltd, according a statement from the ministry. The factory will eventually produce 45,000 tonnes of cathode active materials (CAM) per year for Ford EVs. Ford in a separate statement described the materials as high-quality Nickel Cobalt Manganese (NCM) for rechargeable batteries that are targeting greater performance and improved EV range. Germany's BASF SE (BASFn.DE) is also building a battery materials factory there.

Persons: Phil Noble, EcoProBM, Ford, Lisa Drake, EVs, Francois, Philippe Champagne, Steve Scherer, Jane Merriman, Mark Porter Organizations: Ford, REUTERS, Rights OTTAWA, Ford Motor, South, SK, Co, Ford EVs, Reuters, General Motors Co, BASF, Volkswagen, Fiat, Chrysler, Detroit, Thomson Locations: Liverpool, Britain, Becancour, Quebec, North America, Ontario, St, Lawrence, Canada

Just as important will be persuading people like Mr. Marohn that electric cars, renewable energy and electric heaters and stoves are practical, economical and exciting. Many, conservatives in particular, chafe at the prospect of the government forcing them to buy electric cars or ditch their natural gas appliances, polls show. By The New York TimesA clean energy future will require painstaking and individually tailored persuasion campaigns. “Even if some of them deny the science of climate change, they can’t deny good-paying jobs,” he said. “I just want to change the perception that electric cars are not as good as big, noisy muscle cars,” Mr. Lawson said.

Persons: Mikey Marohn, “, ”, Marohn, Alicia Cox, Cox, , chafe, Jesus, Ms, ” “, Jae Landreth, “ That’s, “ Nobody’s, Mr, Landreth, Phil Collins, Rob Leach, Leach, ‘, “ I’ve, Jack Conness, Biden, Jennifer Granholm, Granholm, Vladimir V, Putin, Sue Burns, Burns, Marjorie Taylor Greene, William Turner, didn’t “, Jason Walsh, Walsh, Tia Williams, Ms . Granholm, ” Ms, Williams, Joe Wilson, ” “ Didn’t, Roy Cooper of, Cooper, Patrick Lawson, Ford, Lawson, Lawson’s, Susan Lawson, Cheryl, Tesla, They’re, Kent Wheeler, “ It’s, ’, Josh Hermes, Paul Rosenzweig, Rosenzweig, Mary T, Barra, ” Kenneth Boswell, Quinton Lucas, Lucas, ” Mr Organizations: Clean, Biden, General Motors, nonbelievers, Republican, Pew, The New York Times, Pew Research Center, Toyota, Clean Energy Manufacturing, Energy Innovation, Trump, Trump Biden, Savings, Yale, Pontiac, BlueGreen Alliance, Democratic, Georgia Institute of Technology, Mr, Republicans, Flex, Gov, Northern Arapaho Tribe, Tesla, Rocky Mountain Rebels, Elks, Wild West EV, Polaris, Northern Arapaho, Chevy Silverado, Mercedes, Benz, Alabama Department of Economic and Community Affairs, Kansas City, Fire Department Locations: Teton, Wyoming, Yellowstone, Baldwin City, Kan, Kansas City, G.O.P, Counties, Russia, Memphis, South Carolina, Georgia, Tennessee, Murfreesboro, Tenn, Dalton, Ga, Roy Cooper of North Carolina, Riverton, Jackson, Minnesota, Louisiana, Alabama, Missouri, Quinton Lucas , Kansas, Kansas

Many opponents of renewable energy, she added, “are worried about the impacts to their very way of life.”Roadside opposition to renewable energy projects near Baldwin City, Kan. “We see offshore wind as a critical technology,” said Dan Burgess, the director of the Maine Governor’s Energy Office. Across the country, clean energy projects of all types are tied up in lengthy permitting processes. By then, India had not completed any offshore wind projects. Since 2000, the United States has barely built any major transmission lines that connect different regions of the country.

Persons: Scott Dickerson, ”, Biden, Alison Bates, “, Columbia University’s, Dan Burgess, Habib Dagher, Janet Mills, Gregory Wetstone, Mack, James Gillway, SunZia, ” Hunter Armistead, Broussard, There’s, Vaughan Woodruff, Tucker Carlson, Teslas, ” Ali Zaidi, Dagher, Rolf Olsen, who’s Organizations: University of Maine, Sears, Officials, Federal, International Energy Agency, Colby College, White, Columbia, Climate, The University of, Maine Governor’s Energy, Environmental, University of Maine’s, Composites Center, Gov, American Clean Power Association, American Council, Renewable Energy, Environmental Protection Agency, Army Corps of Engineers, . Clean, Union United, China India European Union United States, China European Union United, China India United States European, China United States European Union, China United States European Union India, Energy, The New York Times, United, Pattern Energy, New York State Energy Research, Development Authority, Toyota Prius Locations: Penobscot Bay, Maine, , Maine, United States, Europe, China, Australia, India, Los Angeles, Ohio, Jersey Shore, Waterville , Maine, Baldwin City, Kan, Massachusetts, Ukraine, Gulf, Searsport , Maine, Searsport, Bangor, Mack, West, Union United States, U.S, China United States European Union India, Great, New Mexico, Arizona, California, Riesel , Texas, Energy, San Bernardino County, In Kansas, Atlantic City, N.J, New York, Manhattan, Sears

☆ 'Zombie' offices could turn into 400,000 new apartments for families. That's almost double the number of new US units in a typical year.
▼ + stars: | 2023-08-07 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

The rise of remote work, high interest rates, and climate regulations all pose problems for office buildings. A new study found that more than 2,000 US office buildings could be converted into up to 400,000 apartments. And new environmental regulations require that buildings meet certain energy efficiency standards that can require costly renovations. Turning office buildings into apartments isn't a new concept, and it's one that New York City has embraced in theory. Of course, office buildings require some retrofitting to be turned from sprawling workplaces to livable apartments.

Persons: Arpit Gupta, Candy Martinez, Stijn Van Nieuwerburgh, Insider's Jordan Hart Organizations: Service, National Bureau of Economic Research, Los, New York City, jkaplan Locations: Wall, Silicon, Greater New York City, San Francisco, Los Angeles, New York City, New York

☆ Rare metals found on seabeds could be key to green technology, but mining them could wreak ecological havoc on the ocean floor
▼ + stars: | 2023-07-22 | by ( Elias Chavez | ) www.businessinsider.com time to read: +2 min

The ocean floor has billions of tons of rocks filled with important rare metals used for green technology. But a growing list of countries and corporations are calling for a moratorium on deep-sea mining. The International Seabed Authority missed its July 9 deadline to approve a set of rules and regulations for deep-sea mining. The missed deadline leaves the door open for companies to apply for mining licenses without proper regulations put in place. Representatives of the agency gathered for a two-week meeting in Kingston, Jamaica, to discuss the future of deep-sea mining.

Persons: Lise Øvreås Organizations: Service, Authority, BMW, Volvo, Samsung, ISA, University of Bergen, European Academies Science Advisory Council Locations: Kingston , Jamaica, Norway

☆ Biden's tough sell in Pennsylvania: green energy to union workers
▼ + stars: | 2023-07-20 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

Biden is betting that union workers whose jobs are threatened by the energy transition will eventually find a place in the green economy, but that's a hard sell in union-friendly Philadelphia. About a dozen union workers in the Philadelphia region Reuters spoke to questioned whether the new industries can produce a similar number of jobs at the same high wage scale. Overall energy jobs in the U.S. grew 3.8% in 2022, to more than 8.1 million, led by fast growth in clean energy jobs, the Department of Energy said in June. Clean energy jobs, a wide category including wind and solar power, nuclear, and grid technologies and battery storage, made up 3.1 million of those. "I believe Biden when he says that green energy jobs will be union, the question is just how many jobs will there be," Eiding said.

Persons: Joe Biden, Biden, Nancy Minor, Ali Zaidi, Zaidi, Pat Eiding, Eiding, Seth Harris, Harris, Jarrett Renshaw, Heather Timmons, Robert Birsel Organizations: PHILADELPHIA, Philadelphia Shipyard, Reuters, EV, Department of Energy, Philadelphia AFL, CIO, White, House, Thomson Locations: Philadelphia, U.S, Acadia, Biden's, China

☆ Japan and UAE agree innovation, climate change cooperation
▼ + stars: | 2023-07-17 | by ( Rachna Uppal | ) www.reuters.com time to read: +4 min

State news agency WAM also said the two leaders discussed a comprehensive strategic partnership between the UAE and Japan. Japan is actively developing greener and renewable energy technologies and aims to be carbon neutral by 2050. Kishida will also try to promote Japanese know-how as energy-producing countries have pledged to achieve a net zero transition, especially ahead of the COP28 climate summit to be held in Dubai in November. The GCC is a six-nation regional union that comprises Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The secure energy supply from the UAE has supported Japan's economic growth for many years," Kishida wrote in a piece published by UAE state news agency WAM on Sunday.

Persons: Mohamed bin Zayed Al Nahyan, Kishida, Ryan Carter, Fumio Kishida's, Sheikh Mohammed bin Zayed Al Nahyan, WAM, Saudi Crown Prince Mohammed bin Salman, Hikariko Ono, Rachna Uppal, Sakura Murakami, Andrew Mills, Aziz El Yaakoubi, Conor Humphries, David Evans, Alex Richardson, Jacqueline Wong Organizations: United Arab Emirates, United, UAE, United Arab, Japan, Qatar, Saudi Crown, Cooperation Council, GCC, Abu Dhabi National Oil Company, Thomson Locations: Japan, Qasr Al Watan, Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, UAE, State, Dubai, Saudi Arabia, Riyadh, Tokyo, Saudi, Qatar, Kuwait, Oman, Bahrain

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