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Rio Tinto to invest $1 billion over 5 years to help meet new climate change targets

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Mining giant Rio Tinto will invest around $1 billion over the next five years to support the delivery of its new climate change targets and a company objective for net zero emissions from operations by 2050. Under these targets, Rio Tinto’s overall growth between now and 2030 will be carbon neutral.

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Bloom Energy receives DNV AiP for initial design for SOFC-powered LNG carrier; ABS verification as alternative power source

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In conjunction with Samsung Heavy Industries (SHI), the companies’ initial design for an engineless, fuel-cell-powered liquefied natural gas (LNG) carrier has received Approval in Principle (AiP) from DNV, a premier international maritime classification society. Bloom Energy has hit two key milestones on its path to decarbonize shipping.

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IMO Environment Committee approves draft mandatory regulations to cut ship carbon intensity; technical and operational

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The International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC) has approved draft new mandatory regulations to cut the carbon intensity of existing ships. The draft amendments to the MARPOL convention would require ships to combine a technical and an operational approach to reduce their carbon intensity.

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Group of 285 global investors with more than $20T in assets under management calls for urgent action on investment-grade climate change and energy policies; guidelines for governments

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Saying that “ investment-grade climate change and clean energy policy is required to shift private sector investment from high-carbon to low-carbon assets ”, a group of 285 investors has urged governments and international policy makers to take new and meaningful steps in the fight against climate change.

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Garnaut Climate Change Review issues first of 8 update papers in 2011; reaffirms decision-making framework and need for mitigation efforts

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As commissioned by the Australian Government in 2010, the Garnaut Climate Change Review, led by Professor Ross Garnaut, has issued the first of a series of papers scheduled for this month and next updating the 2008 Climate Change Review. —2008 Climate Change Review. Earlier post.)

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California Governor signs new super-pollutants legislation into law; black carbon, fluorinated gases and methane

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signed SB 1383 , establishing the nation’s toughest restrictions on super pollutants including black carbon, fluorinated gases and methane. The law is in addition to California’s existing raft of climate legislation. Black carbon, for example, has a global warming potential 3200 times that of CO 2 on a 20-year time scale.

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Perspective: The Role of Offsets in Climate Change Legislation

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If a cap-and-trade program includes offsets, regulated entities have the opportunity to purchase the “emission credits” generated by carbon offset projects to help them meet their compliance obligations. In this way, offsets would complement the more traditional emissions trading that can occur between two covered sources.