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LONDON, Nov 21 (Reuters) - Morgan Stanley Investment Management said on Monday it had launched a new $1 billion private equity strategy to invest in companies which will remove 1 gigaton of carbon dioxide emissions from the atmosphere by 2050 or prevent that amount entering the atmosphere. Through the 1GT strategy, MSIM will invest in private companies in North America and Europe, whose activities aim to collectively prevent or remove 1GT of emissions. Investments will focus on the mobility, power, sustainable food and agriculture sectors and circular economy and deliver both financial returns and positive environmental impact, MSIM said. MSIM said it would also tie some of the 1GT investment team's compensation to the emissions performance of underlying investments. MSIM said it has already deployed $600 million of capital to companies seeking to mitigate climate change since 2015.

☆ How super-hot rocks miles under the earth's surface could provide limitless clean energy
▼ + stars: | 2022-10-28 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

The Clean Air Task Force commissioned a non-profit geothermal organization, the Hot Rock Energy Research Organization, and an international clean energy consultancy, LucidCatalyst, to estimate the levelized cost of commercial-scale superhot rock electricity. Graphic courtesy Clear Air Task ForceRegular versus superhot geothermalWhile energy from superhot rocks is not being used now, geothermal energy is being used in a few places where super-hot temperatures exist close to the surface of the earth. But accessing superhot rock energy involves tapping into hotter, dry rock — which is everywhere, but sometimes far beneath the surface. Graphic courtesy Clear Air Task ForceIceland is a leader in investigating superhot rock geothermal energy with its Iceland Deep Drilling Project. Beyond Iceland, Italy, Japan, New Zealand and the United States are leaders in superhot rock geothermal, according to Friðleifsson.

☆ How super-hot rocks miles under the earth's surface could help combat climate change
▼ + stars: | 2022-10-28 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +12 min

"It will take public and private investment similar to those being allocated to nuclear, carbon capture, and hydrogen fuels," Hill told CNBC. But accessing superhot rock energy involves tapping into hotter, dry rock — which is everywhere, but sometimes far beneath the surface. Graphic courtesy Clear Air Task ForceIceland is a leader in investigating superhot rock geothermal energy with its Iceland Deep Drilling Project. Beyond Iceland, Italy, Japan, New Zealand and the United States are leaders in superhot rock geothermal, according to Friðleifsson. Oil and gas companies could use their resources to help spur development in the superhot rock industry, the CATF report said.

But the Inflation Reduction Act, which represents about a third of the spending, was passed by Democrats alone. The White House is still pushing a more expansive child tax credit that was not included in the Inflation Reduction Act. Here’s a detailed look at what Mr. Biden wanted and what he got:Climate and Environment Proposed $722 billion Passed $509 billionOn climate, the Biden administration got much of what it wanted. Health Care Proposed $563 billion Passed $412 billionOn health care, there were some victories for the president — and much trimming. The family programs were eliminated largely because of concerns from Mr. Manchin about the overall size of what became the Inflation Reduction Act.

☆ China needs $17 trillion in investments to meet climate goals, World Bank says
▼ + stars: | 2022-10-12 | by ( Andrea Shalal | ) www.reuters.com time to read: +2 min

A student stands on a sports field shrouded in smog on a polluted day in Beijing, China on March 10, 2021. REUTERS/Carlos Garcia Rawlins/File PhotoWASHINGTON, Oct 12 (Reuters) - China needs up to $17 trillion in additional investments for green infrastructure and technology in the power and transport sectors to reach net-zero emissions by 2060, a new World Bank report on China's climate and development challenges found. The report, one of a new series of Country Climate and Development Reports, said China - the world's second-largest economy - would need private investment to cover the immense price tag and unleash the needed innovations. It would also be impossible to reach global climate goals without China transitioning to a low-carbon economy, the report said, noting that China emits 27% of global carbon dioxide and a third of the world's greenhouse gasses. Register now for FREE unlimited access to Reuters.com RegisterReporting by Andrea Shalal; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Oil and gas are making a comeback — and these mutual funds are jumping on the trend, says Morningstar
▼ + stars: | 2022-09-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

The S & P 500's oil and gas sector has risen by nearly 30% this year while the broader market has sold off. Here's a selection of funds that Morningstar says have recently bought oil and gas stocks. BlackRock BGF World Energy It's not just the diversified funds that are making significant moves within the energy sector, however. A 'completely missing' picture Shares in nearly all oil and gas companies have fallen over the past three months following a decline in crude oil prices. Why have funds avoided oil & gas in the past?

☆ Ukraine has more pluses than minuses for climate
▼ + stars: | 2022-09-26 | by ( Hugo Dixon | ) www.reuters.com time to read: +8 min

This new “dash for gas” could lock in irreversible global warming or create a mass of stranded assets, according to Climate Action Tracker. Register now for FREE unlimited access to Reuters.com RegisterZOMBIE DIPLOMACYAs if this is not enough, climate diplomacy has broken down. Dialogue between Xie Zhenhua and John Kerry, the two countries’ top climate diplomats, created momentum around last year’s COP26 talks. The agency now expects global gas demand between 2021 and 2025 to rise by less than half the amount it previously forecast. The world is heading to at least 2.4 degrees of warming, if not more, according to Climate Action Tracker.

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