The UN’s Special Adviser to the Secretary-General on Climate Action Selwin Hart has called for Australia to abandon its coal mining business and to increase its 2030 greenhouse gas emissions reduction target. During a speech recorded for an Australian National University leadership forum, Hart said wealthy...
BHP is engaging in talks with Australia’s Woodside Petroleum over a potential merger of its US$13 billion-valued petroleum business. The potential transaction between BHP and Woodside would mark the world’s biggest mining group’s exit from the oil and gas industry, as it faces growing shareholder pressure...
New data from the International Renewable Energy Agency (IRENA) has found that over 260GW of new renewable energy capacity was installed around the world last year, despite the economic impacts of COVID-19. IRENA’s 'Renewable Capacity Statistics 2021' report found that new green energy capacity in 2020...
The International Renewable Energy Agency (IRENA) has warned that US$131 trillion will need to be invested in renewable energy by 2050 in order to meet the climate goals set out in the Paris agreement. A new outlook report from the clean energy body found that renewable...
Global energy expert Wood Mackenzie has predicted that solar will become the cheapest source of new power by 2030 in a range of markets, including the US, Canada and China. In its latest research paper titled Total eclipse: How falling costs will secure solar’s dominance in...
Global carbon emissions fell by 7% last year as the COVID-19 crisis dented demand for all energy sources except renewables, the International Energy Agency (IEA) has found. The intergovernmental organisation’s executive director Fatih Birol said that renewables were the only segment of the energy sector showing...
US President-elect Joe Biden’s pledge to spend $2 trillion on infrastructure is expected to support base and battery metals prices – in the short term at least - as the world’s biggest economy embarks on a metal-intensive ‘green revolution’. The details of the much-needed green infrastructure...
Royal Dutch Shell has revealed plans to cut up to 9,000 jobs, or over 10% of its workforce, as part of the oil giant’s strategy to transition towards lower carbon energy production. Last month the company launched a broad review of its business, which focused on...
Norway’s state-owned oil company Equinor is aiming to slash its fossil fuels emissions by 40% by 2030 as part of a wider plan to get close to net zero by 2050. The 2030 emissions target will be attained by investing around US$5.7 billion to replace gas...
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...