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So far, Woods' plans have turned investors demanding an energy transition strategy into believers - at least on climate. At the same time, the company plans to have a leading role in the vehicle electrification business. Reuters GraphicsMORE OIL VS GREEN AMBITIONExxon's ambitious agenda includes starting up the world's largest hydrogen power plant by 2027. RISKY BUSINESSThe $17 billion budget for low carbon technologies as the company's total revenue grows next year "will continue to rise", the CEO said. Spending in low carbon currently is constrained by scarcity of customers willing to sign up for contracts and insufficient regulations, Woods said.

Persons: Darren Woods, Carlos Barria, Woods, ”, Paul Sankey, Sankey, Chris James, Dan Ammann, Goldman Sachs, Neil Mehta, Ammann, Brian Weeks, Chris Bohn, Sabrina Valle, Richard Valdmanis, Gary McWilliams, Anna Driver Organizations: ExxonMobil, Economic Cooperation, REUTERS, Exxon Mobil, Natural Resources, Chevron, Reuters, Exxon, Sankey Research, Carbon Solutions, Thomson Locations: Asia, San Francisco , California, U.S, United States, Sankey, Americas, Brazil, Guyana, Texas, Gulf of Mexico, Houston, Dubai

☆ Will guilt-free long-haul flights ever be possible? Here’s what we know
▼ + stars: | 2023-12-04 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +13 min

Sustainable aviation fuel, or SAF, is a type of alternative jet fuel that can curb carbon emissions by up to 80%. The main reason for the slow adoption is that it’s still more expensive – between 1.5 to 6 times pricier than regular jet fuel. Boeing is not out of the race either, but doesn’t see a hydrogen long-haul plane as around the corner. On medium- and long-haul flights, we don’t see it as a direct source of propulsion until 2040. We would need to see magnitude-order changes [in batteries] for us to consider those for long-haul flights.

Persons: ”, Gary Crichlow, Gökçin Çınar, Ryan Faucett, Alexandre Doumenjou, Andreas Schäfer, Britten, “, Artemis, that’s, Boeing’s Faucett, “ You’re, Schäfer Organizations: CNN — Aviation, Boeing, “, Aviation Environment Federation, SAF, Airbus, University of Michigan, CNN, Virgin Atlantic, University College London, Cranfield Aerospace, Norman, Engineers, NASA, Critchlow Locations: London, Bangkok, New York, California, ZeroAvia

☆ COP28: UAE signs deal with Bill Gates' nuclear company on advanced reactors
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas Mukoya Acquire Licensing RightsDUBAI, Dec 4 (Reuters) - Bill Gates' advanced nuclear reactor company TerraPower LLC and the United Arab Emirates’ state owned nuclear company ENEC said on Monday they have agreed to study the potential development of advanced reactors in the UAE and abroad. “For the UAE, we're looking for a future for the clean electrons and molecules that will be brought to reality by advanced reactors,” said Mohamed Al Hammadi, CEO of ENEC, during the signing ceremony. "Bringing advanced nuclear technologies to market is critical to meeting global decarbonization targets," said TerraPower President and CEO Chris Levesque. The UAE currently has one traditional nuclear power plant, near Abu Dhabi, which began producing electricity in 2020. The MOU between TerraPower and the UAE said they would explore uses for advanced nuclear reactors such storing power on the grid and providing the energy needed to produce hydrogen, and decarbonize coal, steel and aluminum plants.

Persons: Bill Gates, Thomas Mukoya, ENEC, ”, Mohamed Al Hammadi, Chris Levesque, TerraPower, Richard Valdmanis, Kim Coghill Organizations: Microsoft, United Nations, Change, United Arab Emirates, REUTERS, Rights, TerraPower, United, UAE, The UAE, Thomson Locations: Dubai, United Arab, UAE, Abu Dhabi, U.S ., Wyoming, TerraPower, Russia, TerraPower's Wyoming, Ukraine, United States

☆ Premarket stocks: Shein and Reddit IPOs don’t herald a Wall Street boom. Here’s why
▼ + stars: | 2023-12-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —It’s been an exciting few weeks for the IPO market. People try to draw an analogy between the IPO market and a blocked pipe. That is one reason why the IPO market feels less stymied than it did 12 months ago. But if the current IPO market kicks off, it’s because of other macroeconomic factors. They’re going to very rapidly acquire customers and care much less about long term financial sustainability and climate and the environment.

Persons: New York CNN — It’s, Angela Lee, Bell, We’ve, Reddit, ‘ it’s, Shein, It’s, it’s, we’ve, Ben Minicucci, Eva Rothenberg, ”, Peter Ingram, Robin Hayes, Minicucci, “ We’ll, Anna Cooban, Svein Tore Holsether Organizations: CNN Business, Bell, New York CNN, Reuters, Microsoft, Wall Street, Columbia Business School, Federal Reserve, Alaska Air, Hawaiian Airlines, Sunday, Alaska Airlines, American Airlines, JetBlue Airways, Justice Department, District of Columbia, Spirit Airlines, Yara, CNN, International Maritime Organization Locations: New York, Reddit, Minicucci, Delta, Southwest, Norwegian, decarbonization

☆ 'Decarbonization can't accelerate without carbon pricing,' IMF managing director says
▼ + stars: | 2023-12-03 | 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 Email'Decarbonization can't accelerate without carbon pricing,' IMF managing director saysDecarbonization can’t accelerate without carbon pricing, IMF Managing Director Kristalina Georgieva says at the COP28 summit.

Persons: Decarbonization, Kristalina Georgieva Organizations: IMF

☆ IMF chief makes the case for carbon pricing as 'writing on the wall' for oil and gas
▼ + stars: | 2023-12-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Kristalina Georgieva, managing director of the International Monetary Fund, speaks during the Singapore FinTech Festival in Singapore, on Wednesday, Nov. 15, 2023. Dubai, UNITED ARAB EMIRATES — The head of the International Monetary Fund on Sunday underlined the case for carbon pricing at the COP28 climate summit, saying that the oil and gas industry recognizes "the writing on the wall." A long-time proponent of carbon pricing, IMF Managing Director Kristalina Georgieva said this approach creates an incentive for polluters to rapidly decarbonize. Carbon pricing ascertains the cost that a company needs to pay for its planet-warming emissions and is widely regarded as the most cost-effective and flexible way to cut such pollution. "For those that have adopted a carbon price, how do we get big emitters to accept that we need to accelerate decarbonization?"

Persons: Kristalina Georgieva, Georgieva, CNBC's Dan Murphy, Nature Organizations: International Monetary Fund, Singapore FinTech Festival, UNITED, EMIRATES, IMF Locations: Singapore, Dubai

Signing on to the pledge were major national oil companies such as Saudi Aramco, Brazil's Petrobras and Sonangol, from Angola, and multi-nationals like Shell, TotalEnergies and BP. The pledge is a “smokescreen to hide the reality that we need to phase out oil, gas and coal,” said a letter signed by more than 300 civil society groups. Still, Mena said that self-reporting didn't go far enough to push oil and gas companies to make changes. Earlier this year, European Union negotiators reached a deal to reduce methane emissions from the energy industry across the 27-member bloc. In his speech, al-Jaber said oil and gas companies needed to do more to research solutions to Scope 3 emissions.

Persons: Sultan al, Jaber, ”, Jean Su, Fred Krupp, Bill Hare, Hare, Marcelo Mena, Mena, John Podesta, Abu Dhabi’s ADNOC Organizations: United Arab Emirates, Associated Press, Abu Dhabi National Oil Co, Saudi Aramco, Brazil's Petrobras, Sonangol, Shell, Center for Biological Diversity, Environmental, Environmental Defense Fund, U.S . Environmental Protection Agency, European Union, Gas, United Arab, Aramco, AP Locations: DUBAI, United Arab, United Nations, Abu Dhabi, Saudi, Angola, COP28, al, fracking, philanthropies, Chile, U.S, United States, United Arab Emirates, Saudi Arabia

☆ Satellites are the new climate police for oil and gas polluters
▼ + stars: | 2023-12-02 | by ( Catherine Boudreau | Erin Snodgrass | ) www.businessinsider.com time to read: +8 min

Fifty oil and gas companies pledged to zero out methane emissions by 2030 at the UN climate summit. Satellites are the next tool that will hold oil and gas companies accountable in their promise to cut methane emissions and slow global warming. Many state-owned oil companies signed on, including the UAE's Adnoc, as well as Saudi Arabia's Saudi Aramco. This, in turn, means oil and gas companies responsible for the plumes can be notified faster and potentially take action. The country's state-owned oil companies are also absent from the "decabonization charter" announced in Dubai.

Persons: Adnoc, Catherine Boudreau, Erin Snodgrass, Michael Bloomberg, Sultan Al Jaber, Peter Dejong, Fred Krupp, Bloomberg Philanthropies, Melanie Robinson, Robinson Organizations: ExxonMobil, Shell, Service, United, Saturday, Environmental Defense Fund, Bloomberg, UN, Summit, EDF, IEA, RMI, European Union, Environmental Protection Agency, EPA, EU, Russia —, World Resources Institute Locations: Saudi Aramco, Dubai, United Arab Emirates, Los Angeles, Saudi, Argentina, EU, Glasgow, Scotland, China, Russia

☆ The world may be close to getting its first cargo ship that emits almost no carbon dioxide
▼ + stars: | 2023-12-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

According to the International Maritime Organization, shipping accounts for close to 3% of global annual emissions of CO2 and other greenhouse gases. Yara International, one of the world’s biggest fertilizer makers, has joined forces with its subsidiary Yara Clean Ammonia and Norway’s North Sea Container Line to work on the ship, which will transport goods between Norway and Germany. However, Yara Clean Ammonia plans to provide a mix of “blue” and “green” ammonia for the Yara Eyde. In “blue” ammonia production, CO2 emissions are captured at the source and stored underground, while “green” ammonia is made using renewable electricity. In August last year, the company said it would launch the first carbon-neutral vessel by the first quarter of 2024.

Persons: Svein Tore Holsether, ”, Norway Victoria, It’s, Faïg Abbasov Organizations: London CNN, Yara, CNN, International Maritime Organization, International Energy Agency, Norway Victoria Klesty, Transport & Environment, Maersk Locations: Norwegian, decarbonization, Norway, Germany, Porsgunn, Brussels

☆ UAE seeks to silence critics with $30-billion climate fund pledge with BlackRock, Brookfield
▼ + stars: | 2023-12-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Sultan Ahmed Al Jaber, President of the UNFCCC COP28 Climate Conference, attends a press conference following the opening session of the conference on November 30, 2023 in Dubai, United Arab Emirates. The United Arab Emirates on Friday said it would contribute $30 billion to a new climate-oriented fund, with finance juggernauts BlackRock, Brookfield and TPG stepping in as inaugural launch partners. Its activity will center on areas including the energy transition, industrial decarbonization and climate technology. The announcement was made on the second day of the COP28 climate summit in the UAE. COP28 President Sultan al-Jaber, who also serves as chief executive of the Abu Dhabi National Oil Company (ADNOC), will chair the board of Alterra.

Persons: Sultan Ahmed Al Jaber, Sultan al, Jaber Organizations: Conference, United Arab Emirates, United, juggernauts BlackRock, TPG, Global, Abu Dhabi National Oil Company Locations: Dubai, United Arab, Brookfield, Latin America, Asia, Africa, Oceania, UAE, Abu Dhabi

☆ Canada's Brookfield raises record $28 billion for infrastructure fund
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Dec 1 (Reuters) - Canada's Brookfield Asset Management (BAM.TO) said on Friday it had raised $28 billion for its largest-ever fund, wagering on infrastructure assets the company believes would benefit from a shift to "deglobalization", given recent geopolitical tensions. Brookfield said the fund has already deployed 40% of its capital in six investments including renewable, transport, data center and telecom tower assets. The company, which manages over $850 billion in assets, said it had also raised $2 billion for related co-investment vehicles. Besides "deglobalization", Brookfield's latest fund will also focus on infrastructure assets tied to digitalization and decarbonization, the company said. The company had raised $20 billion for its previous global infrastructure fund in 2020.

Persons: Brookfield, Niket, Pooja Desai Organizations: Brookfield Asset Management, Thomson Locations: Brookfield, Ukraine, Bengaluru

☆ AI, autonomous systems, and digital connectivity could help ships cut emissions
▼ + stars: | 2023-11-30 | by ( Amanda Paule | ) www.businessinsider.com time to read: +10 min

Autonomous and AI systems could help reduce ships' fuel use. "The only time the maritime industry is ever on the front page of a paper is when there's an accident. Sea Machines RoboticsJohnson said he saw that decarbonization was not only a bonus of Sea Machines' technology but its best value proposition. The Sea Machines Robotics team can monitor (and celebrate) autonomous vessel operations from a control room. Smart-Ship's "Throttle & Bow Buster" is one of three force-feedback levers they offer to help ships increase safety and fuel savings.

Persons: —, AP Moller, Michael Johnson, Johnson, who's, Sea Machines Robotics Johnson, decarbonization, they've, Jelle, Jelle Tiemensma, Sofia Fürstenberg Stott, Stott, Mikael Lind, Lind Organizations: Service, International Maritime Organization, AP Moller, Maersk, AP, AP Moller Holding, Business, Companies, Crowley, Machines, Sea Machines Robotics, Machines Robotics, Smart, Sofia, Sustainable Shipping, Research Institutes of Sweden, International

☆ Apollo Global’s CSO Talks About Knitting Sustainability Into the Culture
▼ + stars: | 2023-11-29 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +9 min

A sustainability veteran with more than 24 years’ experience, Stangis has built sustainability teams at both Intel and Campbell Soup . WSJ Pro: Do you have a favorite sustainable product or service, that isn’t an Apollo company? In terms of our regulatory reporting, we made some great progress, but it’s also helping and building the tools for our portfolio companies. Stangis: We’ve got data from all of our portfolio companies from surveys of 100-plus questions every year. So our portfolio companies, they’re literally doing sustainability reporting to us, we’re compiling it and then making that public.

Persons: Dave Stangis, Stangis, Campbell, it’s, we’ve, I’ve, —, We’ve, they’re, we’re, Rochelle Toplensky Organizations: Apollo Global Management, Intel, Pro, Business, Campbell Soup Company, WSJ, Private Equity, Flagship Fund, Apollo, Rochelle, rochelle.toplensky@wsj.com Locations: Europe, Asia, Paris, Detroit, U.S, Russia, Ukraine, decarbonize, we’ve

Scientists have said carbon removal is needed to keep climate goals alive. Otherwise, the enormous price tag for world-scale carbon removal would need to fall to governments if there is any chance of these projects surviving. A major concern is that DAC technology is both expensive and unproven at scale. More mature carbon capture and storage (CCS) technology, which traps emissions at a point source like a smokestack, also requires a rapid scale up to make a difference. Their money will be made instead by marketing carbon removal credits to corporations not involved in fossil fuels that wish to offset unavoidable emissions, or to governments seeking to stay on track with climate targets.

Persons: Climeworks, ”, Vikrum Aiyer, Sultan al, Jaber, Vicki Hollub, Mike Avery, Christoph Gebald, Richard Valdmanis, Marguerita Choy Organizations: Reuters, REUTERS, Occidental Petroleum, BlackRock, U.S ., Occidental, 28th United, OPEC, United Arab, International Energy Agency, IEA, Global CCS Institute, Stratos, DAC, Department of Energy, Thomson Locations: Tracy , California, Texas, In Louisiana, 28th United Nations, Dubai, United Arab Emirates, Louisiana, Iceland, California, U.S, UAE, Occidental

An advanced geothermal project has begun pumping carbon-free electricity onto the Nevada grid to power Google data centers there, Google announced Tuesday. Getting electrons onto the grid for the first time is a milestone many new energy companies never reach, said Tim Latimer, CEO and co-founder of Google's geothermal partner in the project, Houston-based Fervo Energy. Political Cartoons View All 1267 ImagesFervo is using this first pilot to launch other projects that will deliver far more carbon-free electricity to the grid. Google and Fervo Energy started working together in 2021 to develop next-generation geothermal power. Google announced back in 2020 that it would use carbon-free energy every hour of every day, wherever it operates, by 2030.

Persons: Tim Latimer, ” Latimer, Michael Terrell, We’re, ”, Terrell, “, ” Terrell, Jennifer Granholm, Granholm, Sarah Jewett, Latimer, DCVC, Rachel Slaybaugh, Fervo, Slaybaugh, it’s, Jewett Organizations: Google, Energy, International Energy Agency, Fervo Energy, U.S . Energy Information Administration, Energy Department, DOE, Massachusetts Institute of Technology, AP Locations: Nevada, Houston, Utah, Winnemucca , Nevada, Las Vegas, Reno, United States, California , Nevada , Utah, Hawaii , Oregon , Idaho, New Mexico, Latimer, Fervo, Beaver County , Utah

☆ Oil-and-Gas Companies Account for Only 1% of Clean-Energy Investment Globally, IEA Says
▼ + stars: | 2023-11-24 | by ( Giulia Petroni | ) www.wsj.com time to read: +4 min

Less than half of oil-and-gas output globally comes from companies that have set targets to reduce emissions from operations, the IEA said. In addition, cutting emissions from oil-and-gas companies’ operations and energy usage is “one of the cheapest options to reduce GHG [greenhouse gases] emissions generally,” the IEA said. As of today, less than half of oil-and-gas output globally comes from companies that have set targets to reduce emissions from operations, the IEA said. Total energy investment is estimated at $2.8 trillion in the current year, with around $1.8 trillion on clean energy and $1 trillion on oil, gas and coal. In its net-zero scenario, the IEA forecasts annual fossil fuel investment dropping by $500 billion to 2030 and clean-energy investment increasing by more than $2 trillion.

Persons: turar, Fatih Birol, “, ” Birol, Giulia Petroni Organizations: Reuters, United Arab, International Energy Agency, IEA, giulia.petroni@wsj.com Locations: United Arab Emirates, decarbonization, Paris

☆ ECB's Lagarde: Increasing signs that the global economy is fragmenting into competing blocs
▼ + stars: | 2023-11-17 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

European Central Bank President Christine Lagarde looks on as she attends the European Parliament's Committee on Economic and Monetary Affairs, at the European Parliament, in Brussels, Belgium September 25, 2023. Yves Herman | ReutersEuropean Central Bank President Christine Lagarde on Friday said that Europe is now at a critical juncture, with deglobalization, demographics and decarbonization looming on the horizon. "There are increasing signs that the global economy is fragmenting into competing blocs," she said at the European Banking Congress, according to a transcript. "As our societies age, we will need to deploy new technologies so that we can produce greater output with fewer workers. And as our climate warms, we will need to advance the green transition without any further delays."

Persons: Christine Lagarde, Yves Herman, Lagarde Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, Reuters, Central Bank, European Banking Congress Locations: Brussels, Belgium, Europe

☆ Low Platinum Prices Show How Banking on Miners Could Threaten the Energy Transition
▼ + stars: | 2023-11-15 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

Platinum is used to make the electrolyzers that produce hydrogen and the sharp down cycle in South Africa’s platinum mining sector demonstrates the risk that low prices and lack of investment could slow the energy transition. Prices for other commodities have also fallen, while miners have been complaining of rising costs and seem to be limiting their capital expenditures. Photo: michele spatari/Agence France-Presse/Getty ImagesFor the mining sector, cyclical returns are nothing new. Ray said many South African PGM miners are now selling their output at close to the cost of production, eating away at profitability. “To the extent that PGM prices stay at current levels, I would not be surprised to see more supply-side reaction,” Ray said.

Persons: Waldo Swiegers, ”, Tom Price, michele spatari, We’ve, ” Emma Townshend, ” Townshend, Raj Ray, Ray, ” Ray, ” Implats’s Townshend, Implats, Yusuf Khan Organizations: Bloomberg, Liberum, Agence France, PGM, Times, Business, BMO Capital Markets, Metals Locations: Sibanye, Africa, Johannesburg, Stillwater, South, South Africa, Marikana, U.S, China, Europe, Implats

☆ Why oil majors Shell and BP are combining solar energy and agricultural production
▼ + stars: | 2023-11-14 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

Stoffels owns this land, but leases it to Lightsource BP, a major solar energy developer that's 50% owned by British oil major BP. An emerging industry called agrivoltaics combines solar energy production with agricultural activities such as sheep grazing, beekeeping and crop growing. Today, the U.S. has about five gigawatts of agrivoltaic projects, encompassing more than 35,000 acres across over 30 different states. Shell is also involved in the space through its 44% stake in solar developer Silicon Ranch. While most solar developers opt to lease land, Silicon Ranch buys it outright, often purchasing degraded farmland that's no longer in production.

Persons: Amanda Stoffels, munch, Stoffels, Lightsource, Jordan Macknick, Macknick, Lee, Tom Koranek, Becca Jones, Albertus, Katie Brigham Lightsource, Reagan Farr, Farr, Exxon haven't Organizations: Elm, BP, Lightsource, Lead, National Renewable Energy Laboratory, U.S, U.S . Department, Energy's Solar Energy Technologies Office, Shell, Silicon Ranch, Ranch, Power, Chevron, Exxon Locations: Dallas , Texas, United States, Elm, Ellis County , Texas, Lightsource, U.S, Briar, Navarro County , Texas, agrivoltaics

The world is off track in its efforts to curb global warming in 41 of 42 important measurements and is even heading in the wrong direction in six crucial ways, a new international report calculates. On the flip side, public money spent to create more fossil fuel use is going in the wrong direction and faster than it has in the past, said study co-author Kelly Levin, science and data director at the Bezos Earth Fund. The globe has already warmed about 1.2 degrees Celsius (2.2 degrees Fahrenheit) since the mid 19th century. But he said the report shows “we’re really struggling to pick the low-hanging fruit.”___Read more of AP’s climate coverage at http://www.apnews.com/climate-and-environment. ___Follow Seth Borenstein on X, formerly known as Twitter, at @borenbears___Associated Press climate and environmental coverage receives support from several private foundations.

Persons: Kelly Levin, it’s, ” Levin, ”, Joe Thwaites, Katharine Jacobs, ” Jacobs, Justin Mankin, “ we’re, ___ Read, Seth Borenstein Organizations: Climate, World Resources Institute, Fund, United Nations, United, Natural Resources Defense, Arizona State University, Twitter, AP Locations: Canada, South Asia, Dubai, United States, Paris, Ukraine, Dartmouth

☆ 'We need everything': CEO on why natural gas infrastructure needs to be ready for clean hydrogen
▼ + stars: | 2023-11-09 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

The past few years have seen a number of business leaders talk about blending hydrogen into natural gas infrastructure. A host of solutions — including blending hydrogen into natural gas infrastructure — will be needed to meet decarbonization goals, according to the CEO of Italgas . "It's extremely important that all the levers that you have are used," Gallo told CNBC's "Squawk Box Europe." He stressed that using pre-existing natural gas infrastructure was "essential" in this. "Today we are moving around natural gas, but tomorrow we will have biomethane [and] clean hydrogen that will be used to decarbonize the system," he added.

Persons: Paolo Gallo, Gallo, CNBC's Organizations: CNBC Locations: Ukraine

☆ We're downgrading Emerson Electric on inconsistent execution and weak results
▼ + stars: | 2023-11-07 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

But that was all over shadowed by misses on sales, weak underlying growth, and a suboptimal outlook for the current quarter and fiscal year 2024. For the current quarter, the sales forecast was solid, even as the earnings guidance came up short. On a full-year basis, sales and earnings forecasts fell short of expectations, as did cash-flow-generation targets. Guidance Looking ahead, management's forecast for the current quarter pointed to a better than expected sales result, however its earnings guidance came up short. On a full-year basis, expectations for underlying sales growth and full-year earnings bracketed expectations.

Persons: —, EBITA, Emerson, Surendralal Karsanbhai, Jim Cramer's, Jim Cramer, Jim, Timothy Aeppel Organizations: Emerson Electric, Revenue, Emerson, National Instruments, CNBC, Workers, Emerson Electric Co Locations: belter, Marshalltown , Iowa

In total, the cancellations equate to nearly one-fifth of President Joe Biden’s goal of 30 gigawatts of offshore wind power by 2030. Despite the setbacks, offshore wind continues to move forward, the White House said, citing recent investments by New York state and approval by the Interior Department of the nation’s largest planned offshore wind farm in Virginia. Hardy spoke at the American Clean Power industry group’s offshore wind conference in Boston last month on a panel with Morris. Phil Murphy, has established increasingly stringent clean energy goals, moving from 100% clean energy by 2050 to 100% by 2035. “Offshore wind is a lot bigger than Ørsted.”The first U.S. commercial-scale offshore wind farms are currently under construction: Vineyard Wind off Massachusetts and South Fork Wind off Rhode Island and New York.

Persons: jeopardizing, Ørsted, Joe Biden’s, Biden, Timothy Fox, “, Molly Morris, David Hardy, Hardy, Morris, “ We’re, ”, Walt Musial, Musial, Conor Bambrick, Phil Murphy, Murphy, Catherine Klinger, Catherine Bowes, ″ Bowes, Michael Brown, ” ___ McDermott Organizations: WASHINGTON, Biden, Interior Department, Interior’s Bureau of Ocean Energy Management, Industry, ClearView Energy Partners, Ørsted, American Clean, National Renewable Energy Laboratory, Energy Department, P, Environmental, ., Democratic Gov, New, U.S, Offshore, Ocean, ___, AP Locations: New Jersey, U.S, Danish, New England, Massachusetts, Connecticut, New York, Virginia, Interior’s, Gulf of Mexico, East Coast, Washington, Norwegian, Jersey, United States, Boston, Europe, Virginia Beach, Rhode Island, . New Jersey, Rhode, North America, Providence , Rhode Island, Hill, Albany , New York, Catalini, Trenton , New Jersey

☆ Nickel mining has to be a low-carbon process, says CEO
▼ + stars: | 2023-11-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNickel mining has to be a low-carbon process, says CEOFebriany Eddy, CEO and president director of PT Vale Indonesia Tbk, discusses its decarbonization plans.

Persons: Febriany Eddy Organizations: PT Vale Indonesia Tbk

☆ Climate tech is like catnip to investors. Here's why the $13 billion sector is outperforming other industries.
▼ + stars: | 2023-11-02 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +7 min

Europe's startup ecosystem has been battered this year but climate tech founders have managed to avoid the brunt of the immense downturn so far. PwC's global analysis of the sector also points to climate tech outperforming the norm, accounting for a tenth of private market investments in 2023. Venture capital investment into European startups more broadly is primed to slump by around 46% to 58.1 billion euros in 2023. These obligations have helped make climate tech startups "catnip to investors," Sustainable Ventures' Stuart Ferguson said. Last year, European companies like electric vehicle manufacturer Polestar and batter-maker Northvolt raised 1.6 billion euros and 1 billion euros respectively.

Persons: They've, Stuart Ferguson, Fabian Heilemann, Heilemann, Biden's, Warner, Namratha, Mark Bula, Northvolt, Lisa Barclay, Ferguson, Aenu's Organizations: Steel, Venture, Sustainable Ventures, Warner, Ada Ventures, Elyos Energy, Green Steel, Nesta, Investments Locations: Swedish, British, Norwegian, London, Norway

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