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☆ Africa Climate Summit: Billions pledged to green projects but leaders warn of need ‘to act with urgency’
▼ + stars: | 2023-09-07 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +5 min

CNN —The inaugural Africa Climate Summit drew to a close on Wednesday, with the host, Kenya’s president William Ruto, saying that a total of $23 billion had been pledged to green projects by governments, investors, development banks and philanthropists. Among the most eye-catching finance announcements, the United Arab Emirates pledged $4.5 billion to clean energy initiatives in Africa. “It is our ambition that this will launch a new transformative partnership to jumpstart a pipeline of bankable clean energy projects in this important continent,” Al-Jaber said, adding that the investment could lead to the generation of 15 gigawatts of clean energy by 2030. At the Africa Climate Summit, UN Secretary General Antonio Guterres noted that the continent was responsible for less than four per cent of global carbon emissions. LUIS TATO/AFP/AFP via Getty ImagesGermany announced 450 million euros (about $481 million) of climate finance pledges, and and the US pledged $30 million to support climate resilient food security efforts across Africa.

Persons: William Ruto, Sultan Al, Jaber, ” Al, Yemi Osinbajo, ”, General Antonio Guterres, LUIS TATO, “, Osinbajo, greening Organizations: CNN, Africa Climate Summit, United Arab Emirates, COP28, Global Energy Alliance for People, UN, Getty Images Locations: Africa, Nairobi, Dubai, “, jumpstart, Nigeria, AFP, Copenhagen

☆ Decarbonizing has tremendous growth potential for energy infrastructure, says Tortoise's Rob Thummel
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDecarbonizing has tremendous growth potential for energy infrastructure, says Tortoise's Rob ThummelRob Thummel, Tortoise Ecofin senior portfolio manager, joins 'Squawk on the Street' to discuss rising energy oil prices due to the output cut extension, oil prices influencing energy investment decisions, and companies building carbon capture infrastructure.

Persons: Decarbonizing, Rob Thummel Rob Thummel, Tortoise

☆ Artificial Intelligence Steps In to Lower Carbon Footprint of Buildings
▼ + stars: | 2023-08-31 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Artificial intelligence is starting to help buildings go greener. Developers and construction companies have pursued more-efficient energy use in buildings over the past couple of decades. “We want to make every building out there as smart as it can be,” said Ramya Ravichandar, JLL Technologies’s vice president, technology platforms—smart and sustainable buildings. For instance, software and hardware that automatically manages lights, heating and cooling can help buildings cut 20% or more of their yearly energy use. “The main message overall is we’re not going to save the planet with software, and AI is software,” Smithies said.

Persons: JLL, “, ”, Ramya Ravichandar, ” Ravichandar, Thomas Kiessling, ” Kiessling, Greg Smithies, ” Smithies, Dieter Holger Organizations: International Energy Agency, Energy, Environmental, Envio Systems, Royal London Asset Management, JLL, London Asset Management, Siemens Smart Infrastructure, Siemens, Sustainable Business, Venture, Fifth, dieter.holger Locations: Turntide, Sunnyvale, Calif, Berlin, Birmingham, England

☆ Brazil eyes tax perks for energy sector, sparking 'green' vs oil debate
▼ + stars: | 2023-08-31 | by ( Marcela Ayres | ) www.reuters.com time to read: +4 min

Last year, more than 500 qualified energy projects received some 9 billion reais ($1.85 billion) in tax exemptions. However, senior officials at the Mines and Energy Ministry are pushing to broaden the incentives to include oil refineries and fuel storage facilities. Energy Ministry officials have argued that targeting tax benefits too narrowly would curtail oil and gas investments, calling in a technical note to expand incentives to oil and natural gas exploration, production and transportation. The Energy Ministry did not immediately respond to a request for comment. Brazilian state-run oil firm Petrobras (PETR4.SA) has forecast oil production for the next four decades, even as it ramps up investments in renewable energy.

Persons: Adriano Machado, Luiz Inacio Lula da Silva's, Lula, Marcela Ayres, Brad Haynes, David Gregorio Our Organizations: National, REUTERS, Petroleo Brasileiro SA Petrobras Follow, Reuters, Finance Ministry, Mines and Energy Ministry, Finance, Energy Ministry, Mines, Investments, Petrobras, PETR4, Thomson Locations: Brasilia, Brazil, Petroleo Brasileiro SA Petrobras Follow BRASILIA, Ukraine, biorefineries, divestments

☆ Q&A With Volvo Group’s Karin Svensson
▼ + stars: | 2023-08-29 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +8 min

Karin Svensson, chief sustainability officer of Volvo Group. We were setting the new strategy for the Volvo group. The numbers of electric trucks we sell are still quite small, but it’s a huge increase. It’s really really important that we really decrease our emissions by 2030, so we have set interim targets for all our business areas. We are now [testing] fuel-cell electric trucks and expect to have an offer ready toward the second half of this decade.

Persons: Karin Svensson, can’t, Bo Hakansson, Svensson, ’, It’s, Rochelle Toplensky Organizations: Volvo, Volvo Group, Employees, Rochelle Locations: Swedish, Paris, Sweden, “

☆ Why some are calling the German economy 'the sick man of Europe'
▼ + stars: | 2023-08-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —It’s been nearly two decades since Germany shrugged off its “sick man of Europe” label with a series of labor market reforms that ushered in years of economic outperformance. Sticky inflation and three straight quarters of falling or stagnating output have put Europe’s biggest economy in the doldrums. “Sticky” inflation is eroding Germans’ purchasing power, fueling “pessimism among households,” according to Thomas Obst, senior economist at the Cologne Institute for Economic Research. “[German] industrial order books have emptied over the last 12 months,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN. “Germany is in a very singular position.”Bright spotsHolger Schmieding, the economist who first called Germany the “sick man of Europe” in 1998, thinks the “current wave of pessimism” over its economy is overdone.

Persons: London CNN — It’s, Stefan Kooths, Europe ”, Kooths, Thomas Obst, Obst, ”, Klaus Wohlrabe, Frank Soellner, ” Carsten Brzeski, Sam Reeves, Brzeski, David Hecker, Holger Schmieding, Schmieding, “ Organizations: London CNN, International Monetary Fund, Kiehl Institute, Cologne Institute, Economic Research, CNN, European Central Bank, ifo, Volkswagen, Siemens, Global, ING, Getty, China Locations: Germany, Europe, Berlin, ifo, Bad, China, Duisburg, AFP, Ukraine, Australia, France

☆ JPMorgan executive explains why decarbonization is a megatrend that business can't ignore
▼ + stars: | 2023-08-22 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

"It doesn't matter whether you're an energy client, or a consumer products client, or a retail client, there is something about this megatrend that is going to impact your business model, your business," Variankaval told CNBC. Right now, Variankaval says, it's too soon to know exactly which climate tech companies are going to the winners and losers. It's a multi decade-long process," Variankaval told CNBC. In some segments of climate tech, there are debates about which solutions are better than others that take on a near religious fervor. So you need to diversify in terms of technologies, but also in time horizons," Variankaval told CNBC.

Persons: Rama Variankaval, decarbonization, Variankaval, Megatrend, —, Joe Biden, Sen, Joe Manchin, Chuck Schumer, James Clyburn, Frank Pallone, Kathy Catsor, Drew Angerer, Biden, signe, It's, it's, That's, We're Organizations: JP Morgan Securities LLC, Aspen, Bloomberg, Getty, JPMorgan Chase, CNBC, JPMorgan, United Nations, Carbon, SC, White, Federal Reserve Locations: Miami Beach , Florida, Paris, decarbonization, United

☆ The US government will hand out up to $1.2 billion for companies to suck greenhouse gases out of the air
▼ + stars: | 2023-08-11 | by ( Grace Eliza Goodwin | Marianne Guenot | ) www.businessinsider.com time to read: +3 min

Once built, facilities in Texas and Louisiana will suck carbon dioxide pollution from the air. Removing greenhouse gases from the atmosphere is crucial to reversing the effects of climate change. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. How direct air capture differs from carbon capture technologyUnlike carbon capture technology, which captures carbon as its being produced by a facility before it reaches the atmosphere, direct air capture acts like a giant air purifier, separating carbon that is already in the air and pumping it underground or into rocks for permanent storage. The Texas site believes it could store up to 3 billion metric tons of CO 2 in saline formations under the hub.

Persons: Biden, Energy Jennifer Granholm, Granholm, Harris, Joe Biden Organizations: Service, Biden Administration, US Department of Energy, DOE, Energy, South, South Texas DAC, Infrastructure Law, DAC, Clean, Biden Locations: Texas, Louisiana, Cypress, Calcasieu Parish , Louisiana, South Texas, Kleberg County , Texas

☆ Feds vote to reduce bottlenecks in connecting new power sources to the energy grid
▼ + stars: | 2023-07-31 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

Also, power generators will have to meet certain requirements to keep their place in the queue, including a financial deposit. Deadlines and penalties for transmission providers: Transmission providers will have strict deadlines to to respond to power generators waiting in the queue, and will face penalties if they miss those deadlines. Also, power generators will be able to add a source of power to a single interconnection request. It can be so expensive to build new transmission, sometimes power generators can't afford the cost and have to cancel their power generation plans completely. Also, power generators wait for an average of five years in these queues because grid operators are flooded with interconnection queue applications.

Persons: Jeffrey Lamb, LADWP, Al Seib, George Rose, Rob Gramlich, Gramlich, Joseph Rand, Rand, Gregory Wetstone Organizations: Sylmar, Pacific DC, Los Angeles Department of Water, Los Angeles Times, Getty, Aera Energy, CNBC, Lawrence Berkeley National Laboratory, FERC, Vw, American, Renewable Energy Locations: Columbia, Oregon, California, Southern California, Angeles, Los Angeles , CA, CA, San Joaquin Valley, McKittrick , California, North, Lost, Kern County, Bakersfield, United States, Milford , Utah, Milford, Smithfield, ACORE

☆ Canada releases framework to phase out inefficient fossil fuel subsidies
▼ + stars: | 2023-07-24 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

July 24 (Reuters) - Canada on Monday released a framework for eliminating inefficient fossil fuel subsidies, making it the first G20 country to deliver on a 2009 commitment to rationalise and phase out government support for the sector. Eliminating fossil fuel subsidies is part of a deal signed between Prime Minister Justin Trudeau's minority Liberal and the New Democratic Party (NDP), formalising NDP support. Climate campaigners Environmental Defence also criticised the framework for not applying to public financing of fossil fuel projects through government-owned crown corporations, such the loan guarantees for the C$30.9 billion Trans Mountain pipeline expansion project. Ottawa plans to release a framework to phase out public financing of fossil fuel projects within the next year. "The Government of Canada must quickly take the final step and end all fossil financing – without any loopholes for fossil gas, fossil hydrogen or CCS," Environmental Defence program manager Julia Levin said in a statement.

Persons: Steven Guilbeault, Justin Trudeau's, Laurel Collins, Collins, Laura Cameron, Julia Levin, Nia Williams, Jonathan Oatis, Grant McCool Organizations: Monday, Liberal, New Democratic Party, NDP, International Institute of Sustainable Development, Trade, Pathways Alliance, CCS, Environmental Defence, Thomson Locations: Canada, Ottawa, Alberta, British Columbia

The extreme heat is prompting violent typhoons in Asia and flash floods in the United States. But to the pragmatist, extreme heat is the new normal. The good news: Investors are spending big on climate projects. Global warming helps make periods of extreme heat more frequent, longer and more intense, and it will continue getting worse unless humans essentially stop adding carbon dioxide to the atmosphere, scientists say. “There’s been huge, huge progress” in developing green technologies and bringing down their costs, said Bella Tonkonogy, the U.S. director of Climate Policy Initiative whose funders include the Bloomberg Foundation and the German government.

Persons: it’s, El Niño, Carl, Friedrich Schleussner, ” “, ”, DealBook, “ There’s, Bella Tonkonogy Organizations: Analytics, Global, Venture, Initiative, Biden, Bloomberg Foundation Locations: Asia, United States, Berlin, U.S

☆ When El Niño exacerbates global warming: Record heat, record flooding, record wildfires
▼ + stars: | 2023-07-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Brown | Afp | Getty ImagesIf you feel like record-level extreme weather events are happening with alarming frequency, you're not alone. Global warming is making extreme weather events more severe, scientists said. But what is clear is that climate change makes it more likely that an extreme weather event will happen. "Higher temperatures from climate change are indisputable, and with each degree increase we're multiplying our changes of getting an extreme heat wave. Decreasing the greenhouse gas emissions released into the atmosphere by burning fossil fuels will help moderate the extreme weather trends.

Persons: Rai Rogers, Frederic J, Brown, Michael Mann, Brandon Bell, Phil Scott, Paul Ullrich, Mann, Ullrich, Justin Trudeau, El Niño, Timothy Canty, Canty, they're Organizations: Afp, Getty, University of Pennsylvania, CNBC, National Oceanic, Atmospheric Administration, NOAA, National Weather Service, Prediction, EMT, Emergency, Washington Post, The Washington Post, Anadolu Agency, University of California, Global, Wildfire, Bloomberg, University of Maryland, Government, Montreal Locations: Las Vegas , Nevada, California, Texas, Florida, United States, Northern, West Coast, Phoenix , Arizona, Nevada, Arizona, Montpelier , Vermont, Vermont, Canada, New York City, Anadolu, Davis, Lytton , British Columbia, El, Americas, Gulf, Pacific Northwest, Ohio, Northeastern, Ankara, Turkiye, Montreal

☆ Renault and China’s Geely will invest up to $7.7 billion to build hybrid and gas engines
▼ + stars: | 2023-07-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Carmakers Renault and Geely have announced a joint venture to build engines for hybrid and gasoline-powered vehicles, with the partners investing a maximum of €7 billion ($7.7 billion) in total. Renault said Tuesday that, together with its Chinese counterpart, it planned to create a new company that aimed to produce up to five million internal combustion, hybrid and plug-in hybrid engines and transmissions a year. Renault and Geely expect the new company to supply engines and other components to several global auto brands, including Volvo, Nissan and Mitsubishi, as well as for their own cars. Vehicles sold included those powered by batteries, plug-in hybrid engines and fuel cell engines. Tesla’s deliveries from its Shanghai factory more than doubled in the second quarter, accounting for over half of its record global sales, data from the CPCA showed.

Persons: London CNN — Carmakers, ” Renault, Jim Saker, — Organizations: London CNN, London CNN — Carmakers Renault, Geely, Renault, Volvo, Nissan, Mitsubishi, Reuters, NurPhoto, Getty, Hong, Saudi Aramco, Centre for Automotive Management, Loughborough University, EV, ”, China Passenger Car Association . Vehicles Locations: Hong Kong, Saudi, United Kingdom, China, Shanghai

☆ General Mills is paying this agriculture tech startup to help make Cheerios greener
▼ + stars: | 2023-07-11 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Agriculture and the overall food ecosystem are responsible for roughly one third of global greenhouse gas emissions. Growing all the things we eat at the increasing volumes we need depletes the soil of nutrients and produces harmful carbon emissions. Regenerative agriculture aims to reduce emissions and protect soil through various methods. "Is it good for the environment, good for the water, good for soil health? Regrow then sells all that information to customers like General Mills , which has pledged to advance regenerative agriculture on one million acres of farmland by 2030.

Persons: Regrow, John Deere, Anastasia Volkova, Mills, Steve Rosenzweig, General Mills Organizations: Pillsbury, Corporations, Galvanize, Ventures, Microsoft, Time Ventures, Cargill Locations: Canada

☆ What the Inflation Reduction Act Teaches Us About Decarbonization - The New York Times
▼ + stars: | 2023-07-07 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +1 min

The New York Times Audio app includes podcasts, narrated articles from the newsroom and other publishers, as well as exclusive new shows, which we’re making available to readers for a limited time. Download the New York Times Audio app here. The Inflation Reduction Act was the largest piece of climate legislation ever passed in the United States, setting aside hundreds of billions of dollars for decarbonizing the economy. Are we on track for a decarbonized economy? [You can listen to this episode of “The Ezra Klein Show” on Apple, Spotify, Amazon Music, Google or wherever you get your podcasts.]

Persons: “, Ezra Klein Organizations: New York Times, Apple, Spotify, Amazon Music, Google Locations: United States

☆ There's a lot of talk about hydrogen's potential. But transportation costs represent a big challenge
▼ + stars: | 2023-07-04 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +5 min

In the world of business, multinationals from Iberdrola to Siemens Energy are also looking to make plays in green hydrogen. The DOE adds that more research is required to "analyze the trade-offs between the hydrogen production options and the hydrogen delivery options when considered together as a system." "You produce the hydrogen, the green hydrogen, and then you would synthesize it into ammonia with nitrogen," he said. Despite some clearly big obstacles, partnerships and programs related to the supply and distribution of green hydrogen are starting to take shape. Elsewhere, German firm Enertrag says it's been "operating a tanker and transport trailer to deliver large quantities of green hydrogen to customers" since 2021.

Persons: Angel Garcia, Olaf Scholz, Murray Douglas, Wood Mackenzie, Douglas, Wood Mackenzie's Douglas, —, Jorgo Chatzimarkakis, Chatzimarkakis, Enertrag, it's, Cepsa Organizations: Bloomberg, Getty, Siemens Energy, International Energy Agency, CNBC, U.S . Department of Energy, DOE, Octopus Energy, Port Locations: Spain, German, Australia, North Africa, Madrid, Rotterdam, Europe

LONDON/NEW YORK/HONG KONG (Reuters) -For hedge funds, the second half of 2023 is all about pouncing on the ways in which inflation, aggressive rate hikes and decarbonisation are shaping the economy. Five prominent funds shared their ideas using five different asset classes to trade on this uncertainty. The ideas do not represent recommendations or trading positions, which hedge funds cannot reveal for regulatory reasons. 1/ UBS O’CONNOR* Alternatives platform, with both hedge funds and credit* Size: $9.5 billion* Established in 2000* Key trade: Long so-called “busted” convertible bonds, or hybrid securities where the stock trades below its option conversion price. Seminara favored long positions in investment grade bonds and shorting high yield ones via the iTraxx Europe and iTraxx crossover indices.

Persons: Brendan McDermid, Casey Talbot, Alpha, ” Talbot, Byron Gill, Howard Smith, Anastasia Tarasova, Tarasova, Andrea Seminara, ”, Seminara, CRAWFORD, ERIC STURDZA, Eric Sturdza, Chris Crawford, Biden, “ They’re, Crawford Organizations: Reuters, Traders, New York Stock Exchange, REUTERS, UBS, UBS O’Connor, Companies, Indus Capital Partners, Capital, Federal, Redhedge, Asset Management, European Central Bank, ECB, Eric Sturdza Investments, Fund Management, Crawford Fund Management Locations: HONG KONG, New York City, U.S, Asia, Ukraine, Europe

[1/2] Manufacturing equipment is seen during a tour of Foxconn's electric vehicle production facility in Lordstown, Ohio, U.S. November 30, 2022. The Domestic Manufacturing Conversion Grants for EVs program will provide cost-shared grants for making efficient hybrid, plug-in electric hybrid, fully electric, and fuel cell vehicles. The Department of Energy's Vehicle Technologies Office said the program will prioritize projects that refurbish or retool manufacturing plants that have recently stopped operations or were expected to close soon. The Biden administration, as part of its goal of decarbonizing the economy by 2050, is pushing the U.S. auto industry to accelerate a transition to EVs. The Alliance for Automotive Innovation, which represents General Motors (GM.N), Stellantis NV (STLAM.MI), Toyota Motor (7203.T) and others, on Wednesday called the EPA proposal a "de facto battery electric vehicle mandate" that was "neither reasonable nor achievable."

Persons: Quinn Glabicki, Joe Biden's, Biden, Shawn Fain, Stellantis, Timothy Gardner, Joe White, David Shepardson, David Gregorio, Grant McCool Organizations: REUTERS, WASHINGTON, United Auto Workers, UAW, Energy's Vehicle Technologies, Lordstown, Environmental Protection Agency, Alliance, Automotive Innovation, General Motors, Stellantis, Toyota, Energy Department, Thomson Locations: Lordstown , Ohio, U.S, DETROIT, Ohio, Michigan , Ohio , Illinois, Indiana, Belvidere , Illinois, Washington, Detroit

☆ Asia must reach net zero before the world can do so, says Petronas CEO
▼ + stars: | 2023-06-28 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

Petronas sign against the backdrop of the Twin Towers. Goh Seng Chong | Bloomberg | Getty ImagesAsia needs to achieve net zero before the world can do so, according to the CEO of Malaysia's state-owned oil and gas company Petronas. "The bulk of the emissions [that] are expected to emit will be produced in Asia going forward," Tengku Muhammad Taufik told CNBC's JP Ong Tuesday on the sidelines of the Energy Asia in Kuala Lumpur, Malaysia. "The world cannot achieve net zero without Asia achieving net zero," Taufik pointed out during the opening address of summit. Asia will represent half of global GDP by 2040, as well as 40% of global consumption, he added.

Persons: Goh Seng Chong, Tengku Muhammad Taufik, CNBC's JP Ong, Taufik, idealists Organizations: Petronas, Bloomberg, Getty, Energy, International Energy Agency Locations: Asia, Malaysia's, Energy Asia, Kuala Lumpur, Malaysia, Paris

☆ Meet the 33-year-old Canadian chemist and the renowned MIT professor who are building the 'electric vehicle of cement making'
▼ + stars: | 2023-06-24 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +10 min

An electric vehicle replaces a combustion engine with an electric motor, and that's what Sublime Systems does in the cement-making process. So he moved to eastern Canada, where they don't have a lot of rabbis," Ellis told CNBC of her father's move. And I think we both sort of gravitate to things that are challenging," Ellis told CNBC. I think the best way we have to get around fossil fuels is to use electrons," Ellis told CNBC. There will be numerous approaches, all of which have challenges and most of which deserve to be tested," Chiang told CNBC.

Persons: Leah Ellis, Ming Chiang, Ellis, Chiang, Sublime, she's, haven't, It's, Leah Ellis Ellis, it's, Mark Mutter, Mutter, Clay Dumas, Dumas, Katie Rae, Rae, Timothy McCaffery, McCaffery, Scott Carmichael It's, I'm Organizations: Sublime Systems, Sublime, CNBC, Battery, Massachusetts Institute of Technology, Bloomberg, Getty, Jamcem Consulting, LowerCarbon, Siam Cement, SCG, American Society for Testing Locations: Texas, South Africa, Israel, Jerusalem, Canada, Houston , Texas, Europe, Boston, Africa

☆ These are the most-loved Club stocks on Wall Street. Here’s where we stand
▼ + stars: | 2023-06-23 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

HAL YTD mountain Halliburton's year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance. GOOGL YTD mountain Alphabet's year-to-date stock performance. That's lagged many other large-cap tech peers over the same stretch, including Club stock Nvidia (NVDA), which climbed 11%, and Adobe (ADBE), which advanced 10%. PANW YTD mountain Palo Alto Networks' year-to-date stock performance.

Persons: It's, hasn't, it's, Halliburton, We're, we'd, it'd, what's, we're, Linde, Jim Cramer's, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Linde, LIN, Palo Alto Networks, Wall, Club, Coterra Energy, Federal, Amazon, Amazon Web, Microsoft, Nvidia, Adobe, Networks, CNBC, Getty Locations: Thursday's, Palo, U.S, Europe, Stillwater , Oklahoma

☆ Climate startup Supercritical nabbed $13 million to help carbon removal projects get funded. Check out the 11-slide pitch deck it used to secure the funds from Lightspeed.
▼ + stars: | 2023-06-21 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

London-based startup Supercritical just raised $13 million to help projects get funded via companies. London-based startup Supercritical has just raised $13 million from Lightspeed Venture Partners to help the "groundswell" of businesses pledging to invest in carbon removal. That's where carbon removal — tree-planting, sucking CO2 from the air using technology, or enhanced rock weathering — comes in. Long term, it wants to be the "no brainer" option for carbon removal purchases. Check out the 11-slide redacted pitch deck Supercritical used to raise the funds.

Persons: we've, Michelle You, Aaron Randall, Carbo Organizations: Lightspeed Venture Partners, Paris, Frontier Fund, RTP Global, Greencode Ventures, MMC Ventures Locations: London

☆ The world’s most eco-conscious airlines
▼ + stars: | 2023-06-16 | by ( Elissa Garay | ) edition.cnn.com time to read: +12 min

CNN —Most sustainability experts will scoff at the idea of “sustainable” and “airlines” in the same sentence. In 2022, an Airbus wide-body Beluga XL transport aircraft was filled with Sustainable Aviation Fuel" (SAF) for the first time. WiderøeNorway-based Widerøe, the largest regional airline in Scandinavia, says it is on track to become one of the world’s first fully emissions-free airlines. Alaska AirlinesAlaska Airlines has invested heavily in Sustainable Aviation Fuels (SAF). AaronP/Bauer-Griffin/GC Images/Getty ImagesWhile most major global airlines are targeting 2050 for net-zero carbon emissions, Alaska Airlines intends to meet that target as soon as 2040.

Persons: ”, Pedro Piris, Sola Zheng, Sina Schuldt, Nicolas Jammes, ” Akbar Al Baker, “, Zheng, –, that’s, it’s, Beata Zawrzel, Fabrizio Gandolfo, Nicolas Economou, Bauer, Griffin, It’s Organizations: CNN, Environmental Defense Fund, International Council, Clean Transportation, Commercial, International Air Transport Association, UN, Airbus, Beluga XL, Sustainable Aviation, Qatar Airways, SAF, European Union, Google, Environmental Defense, Airlines, United Airlines United, Aerospace, United, Flight Fund, Widerøe Norway, Widerøe, Royce, SAS SAS, Scandinavian, SAS, Wizz, Wizz Air, Etihad Airways Etihad, Getty, Etihad Airways, United Arab Emirates, Boeing, Etihad, Alaska Airlines Alaska Airlines, Aviation Fuels, AaronP, Alaska Airlines, Air Canada Canadian, Air Canada Locations: Europe, Denmark, Sweden, ICCT, Scandinavia, Norway, Canada

The legislation, modeled off of California's Low Carbon Fuel Standard, aims to reduce carbon intensity from the on-road transportation sector in New York by 20% by 2031. If passed, it would be the second-largest clean fuel standard in the United States, surpassed only by California's. The New York Senate passed the Clean Fuel Standard on Thursday, the first time it had done so despite similar legislation being produced in prior sessions. California's Low Carbon Fuel Standard led to a boom in investments in fuels made from non-petroleum feedstocks. Canada has also implemented a Clean Fuel Standard which is set to take effect later this year.

Persons: Deborah Glick, Laura Sanicola, Nick Zieminski Organizations: U.S ., New York Senate, decarbonizing, Thomson Locations: New York, U.S . East Coast, United States, York, West Coast, Washington and Oregon, Canada

☆ Morgan Stanley's best stock picks to play the transition to clean energy
▼ + stars: | 2023-05-31 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The transition to clean energy won't be equal across sectors, according to Morgan Stanley Research. The Wall Street bank broke down segments of the energy transition that will benefit and others that will be challenged by the transition to clean energy. For this list, CNBC picked stocks Morgan Stanley thinks stand to benefit from the move toward clean energy, with a special focus on shares with overweight and equal weight ratings. The stocks in this list fall into one of four categories: — Energy storage and fuel cells. "Not all incumbent utilities will gain from the energy transition," Byrd wrote Wednesday.

Persons: Morgan Stanley, Stephen Byrd, Stocks, Byrd, Morgan Stanley's Organizations: Morgan Stanley Research, CNBC, Products, Chemicals Inc, Linde PLC, Air Products, Chemicals, Energy, Occidental Petroleum, Exxon Mobil, Chevron, Oil, Pacific Gas and, Edison International Locations: California, U.S

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