China is becoming a roadblock to worldwide efforts for a more climate-friendly steel sector, according to a new report from the Global Energy Monitor. “Coal-based steel production is on the decline, but not quickly enough,” concludes the Global Energy Monitor. China, as the largest steel producer, faces significant challenges:So far, the climate goals for China’s […]
Reducing emissions in industrial sectors such as steel and cement production is considered one of the biggest challenges of climate policy. But there is hope: “Steel has moved from inertia to progress,” a new Global Energy Monitor report says. Its conclusion: “The last year was pivotal for heavy industry decarbonization.” Now, 43 percent of new […]
Yesterday was Earth Overshoot Day – meaning humanity has used up all ecological resources that can be replenished in one year at the most. And yet fossil fuel companies are striving for more: 50 billion dollars will be invested this year in oil and gas exploration, and the UK and Nigeria have new plans to […]
According to a new analysis by BloombergNEF (BNEF), the US Inflation Reduction Act (IRA) will hardly result in any additional reduction in CO2 emissions by 2030. The think tank calculates that emissions will then be around 3.7 billion metric tons. That is only 50 million tons less than in a baseline scenario without the tax […]
Funding for the export industry is a crucial driver of public loans for new coal-fired power plants in the Global South. This is the finding of a newly published study led by the Berlin-based Mercator Research Institute on Global Commons and Climate Change (MCC) in the journal Environmental Research Letters. Financing by public banks, especially […]
Oil and gas companies could spend more than 50 billion US dollars in the search for new conventional oil and gas deposits this year – more than at any time since 2019. This is according to calculations by energy research and business intelligence company Rystad Energy.The six major oil companies ExxonMobil, BP, Shell, Total Energies, […]
Yesterday, Wednesday, marked Earth Overshoot Day. According to calculations by the Global Footprint Network, humanity has consumed as many resources from the planet almost five months before the end of the year as all ecosystems are capable of replenishing in an entire year. According to the network, CO2 emissions account for 60 percent of the […]
André de Ruyter has had three turbulent years: He was poisoned, was, by his own account, the head of an internal corporate intelligence operation, and ultimately had to leave South Africa. The story of Eskom’s former CEO sounds more like the plot of a Netflix crime series than the life of a CEO. But de […]
The German government presented its new hydrogen strategy on Wednesday. It aims to secure Germany’s energy carrier supply while promoting a sustainable economy in partner countries. However, concrete guidelines for reconciling these goals have not yet been set.In the now-adopted revision of the 2020 strategy, the supply of “sustainable and climate-neutral hydrogen” is considered “indispensable” […]
The EU’s energy-intensive industries have yet to recover from the 2022 production slump. Nearly two-thirds of the net decline in EU electricity demand in 2022 was attributed to energy-intensive industries struggling with increased energy prices following Russia’s invasion of Ukraine, according to a report by the International Energy Agency (IEA). This trend has continued well […]