Cargill-chartered ship makes its first trip with massive, fuel-saving and emissions-slashing sails
Commodity giant Cargill has applied two 37.5 meter high sails on one of its ships that could reduce fuel consumption and CO2 emissions by 30% on an average trip, paving the way for the technology to be used worldwide and reduce the global shipping fleet’s carbon footprint.
Read MoreANALYSIS: Prepare for takeoff – EU airlines start to get ready for the end of free emission allowances
The phaseout of EU ETS free allocation for the aviation sector by 2026 is prompting some airlines to already hedge their emission allowance position for 2024 and beyond.
Read MoreEU shipping sector’s emissions likely to flat-line in 2024, adding bearish pressure to EUA prices -analysts
Greenhouse gas emissions from the EU’s shipping sector are not likely to reach 2019 levels for the next two years due to lower demand for shipping services as well as the sector’s decarbonisation efforts, analysts predict, exerting additional downward pressure to an already bearish outlook for EUA prices in 2024.
Read MoreGerman steelmaker reports robust quarter but 13% drop in sales year-on-year
German steelmaker Thyssenkrupp reported a 13% year-on-year drop in quarterly global sales amid lower prices, though it said it was targeting the upper range of its full-year forecast after a “robust” quarter in its financial results on Thursday.
Read MoreEU greenlights state aid for Germany’s energy-intensive fuel companies at risk of carbon leakage
Germany’s energy-intensive companies that are part of the domestic fuel emissions trading system will be partially compensated for any risk of carbon leakage caused by higher fuel prices, as the European Commission approved the €6.5 billion scheme on Thursday.
Read MoreUK to host international energy security conference in spring 2024
The UK energy secretary Grant Shapps announced plans to host an international summit on energy security in spring 2024, stressing the need to diversify from fossil fuels and hit climate goals.
Read MoreBiodiversity poised to become more important selection criteria in offshore wind power projects -industry
As lower costs and less need for government subsidies are sparking rapid growth in the offshore wind power sector, biodiversity considerations are likely to become decisive factors in the project selection process, according to industry stakeholders.
Read MoreGermany’s new ‘hydrogen-ready’ gas units to lead to emissions bump, say analysts
Germany’s plan to tender 24 GW of hydrogen and fossil gas units from 2024 could lead to the release of almost 5 MtCO2 emissions per year as industry is expected to take time to build a low-carbon hydrogen supply chain, analysts told Carbon Pulse.
Read MoreAsset managers far off track from meeting 2050 net zero commitments with US performing the worst -report
US asset managers’ climate ambition appears to have decreased since 2021, coinciding with a recent ‘anti-ESG’ trend in some parts of the country, although globally, firms are also far from being aligned to the Paris Agreement, a think-tank has revealed in its latest report.
Read MoreCross-border loans a key driver of coal investment in Global South, with risk of same trend emerging for gas -report
Cross-border loans from public banks could become a key driver of investment in gas-fired power plants in the Global South, researchers said in a report published on Wednesday that flagged signs of interest in fossil fuel financing caused by Russia’s war of aggression against Ukraine.
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