BP’s new chief executive Bernard Looney yesterday announced plans to become a net zero emissions company by 2050 or sooner, in what would be a drastic reorganisation of the global oil giant’s business. Along with absolute net zero commitments across all of BP’s operations, the company...
BHP is facing up to an investor rebellion at its annual general meeting next week, after major shareholder Standard Life Aberdeen called for the world’s biggest mining company to end its association with advocacy groups that support the fossil fuels industry. Standard Life, a top five...
Oil and gas companies have approved US$50 billion of new investment in major projects since 2018, undermining climate change targets set out in the Paris Agreement and threatening shareholder returns. Think tank Carbon Tracker found that no major oil company is investing in projects that will...
One of the UK’s largest energy suppliers has responded to rising public concern over the climate crisis by switching its 3.3 million customers to 100% renewable electricity – at no extra cost. E.ON said that around half of its output would come from its own renewable...
The Canadian government will provide C$325,000 to the Mining Association of Canada (MAC), which will go towards the creation of a ‘climate change adaptation’ programme for the mining sector. MAC, Golder Associates and Lorax Environmental Services have committed to match the federal funding for the project,...
The UK has gone a full week without using coal to generate electricity for the first time since 1882, in a landmark moment which follows the government’s recent pledge to phase out coal-fired electricity by 2025. The last coal generator came off the system on May...
Latest data released by the International Energy Agency (IEA) has revealed that after nearly two decades of strong annual growth, global renewable energy capacity growth remained flat in 2018. New net capacity from solar PV, wind, hydro, bioenergy and other renewable power sources increased by nearly...
Anglo American and Rio Tinto have become founding donors to the World Bank’s Climate-Smart Mining initiative – the first ever fund dedicated to making mining a more sustainable practice. The World Bank said the facility will focus on helping resource-rich developing countries benefit from increasing global...
The biggest party in Norway’s parliament has withdrawn support for explorative offshore drilling around the Lofoten islands - an ecologically sensitive archipelago in the Arctic Circle. The decision has dealt a major setback to Norway’s sizeable oil industry, which currently pumps more than 1.6 million barrels...
The scale-up of renewable energy and electrification of the global transport and heavy industries sectors could result in renewables meeting 86% of the world’s power demand by 2050, according to new research from the International Renewable Energy Agency (IRENA). The IRENA report, titled Global Energy Transformation:...