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ClearFlame Engine Technologies , a startup developing net-zero engine technology ( earlier post ), has secured $17 million in Series A financing, which will enable commercialization of the company’s innovative engine technology for the long-haul trucking, agriculture and power generation sectors.
A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. The proceeds of the bond will be used to fund the design, development and manufacturing of fully electric cars in line with the company’s recently established Green Finance Framework.
The Premier of Québec, Jean Charest; the Minister of Sustainable Development, Environment and Parks, Pierre Arcand; and the Minister of Transport Pierre Moreau unveiled the Canadian province’s 2013-2020 Action Plan on Climate Change (PACC 2020). GHG emissions in Québec reached their historic peak in 2003 to 6.8% billion (US$2.6
Global renewable energy investment increased between 2013 and 2018, reaching its peak at US$351 billion in 2017, according to a new report by the International Renewable Energy Agency (IRENA) and Climate Policy Initiative (CPI). The 2020 edition of Global Landscape of Renewable Energy Finance highlights however, that while a cumulative US$1.8
Governments at the COP17 meeting decided to adopt some form of a universal legal agreement on climate change as soon. Parties to this second period will turn their economy-wide targets into quantified emission limitation or reduction objectives and submit them for review by 1 May 2012. Green Climate Fund. future agreements.
The California Air Resources Board will launch a new pilot program that aims to help small trucking fleets make the transition to zero-emission technologies. The pilot will provide $25 million to implement a range of innovative solutions to help small fleets make the transition to zero-emissions.
The Asian Development Bank (ADB) mobilized a $135-million climatefinancing package for VinFast Trading and Production Joint Stock Company (VinFast) for manufacturing Vietnam’s first fully-electric public transport bus fleet and first national electric vehicle (EV) charging network.
In countries that choose to continue or increase their use of nuclear power, it can reduce reliance on imported fossil fuels, cut carbon dioxide emissions and enable electricity systems to integrate higher shares of solar and wind power. However, a new era for nuclear power is by no means guaranteed. —IEA Executive Director Fatih Birol.
The technology group Wärtsilä has joined a consortium of key partners to form Zero Emission Services B.V. Within the Netherlands transport sector, inland navigation accounts for 5% of carbon dioxide emissions. To make it easier for barge operators to sign-on to the concept, a ‘pay-per-use’ financing model has been developed.
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.
The US Department of Transportation’s Federal Highway Administration (FHWA) announced a Notice of Proposed Rulemaking ( NPRM ) for states and municipalities to track and reduce greenhouse gas (GHG) emissions. BIL also includes $7.2
While regional aviation represents a sizable market opportunity and an important early proof point in the fight against climate change, it is a small fraction of total aviation emissions. The gravity of climate change is forcing a tipping point in the green hydrogen ecosystem of producers, distributors, and consumers.
IG Metall, Germany’s largest union as well as Europe’s largest industrial union, warns that at Hüttenwerke Krupp Mannesmann (HKM), the switch to climate-neutral steel production is may fail due to the lack of financing. HKM aims to reduce CO 2 emissions by 30% by the year 2025, and then be as climate neutral as possible by 2045.
trillion is spent annually on transport globally, mostly in ways that exacerbate rather than solve the problems associated with traffic growth, including congestion, health-harming air pollution, accidents, energy insecurity, and climate change. The report, A Paradigm Shift Towards Sustainable Low Carbon Transport , finds that more than $1.5
Diplomats were recalled from their hotels to block the move, and Rasmussen instead called a brief adjournment following intervention by UK Energy and Climate Secretary Ed Miliband, as well as Australian and US officials. Emissions Reduction Targets Shuttled To The Side. The relative valuation of potential emissions offsets (e.g.
This includes the possibility of the adoption by IMO of a compensation mechanism through which a significant share of any revenues collected from international shipping could be directed to developing countries and provide a new source of finance to support their efforts to tackle climate change.
Among the transportation-related elements of US President Barack Obama’s new climate action plan, which he is outlining today in a speech at Georgetown University, is the development of new fuel economy standards for heavy-duty vehicles post-2018. Preparing the US for the impacts of climate change. Earlier post.).
in collaboration with Grütter Consulting , has launched a program to monetize the carbon emission reductions associated with Cummins Westport (CWI) and Westport HD natural gas engines. Current carbon credits for this type of emission reduction program can receive up to $25 per tonne. Westport Innovations Inc.,
Park City Transit has deployed Utah’s first zero-emission, battery-electric mass transit fleet, which will include six Proterra Catalyst FC+ buses. With its deployment of Proterra vehicles, the Park City region will become the first mountain resort community in the United States to operate a highly efficient, battery-electric transit service.
The road transport sector could still reach net-zero emissions by 2050 through electrification, but urgent action would be required from policymakers and industry participants, according to research company BloombergNEF’s (BNEF) latest annual Long-Term Electric Vehicle Outlook (EVO).
The current proposals by developed countries on the table for the upcoming climate negotiations in Copenhagen to reduce greenhouse gas (GHG) emissions do not yet suffice to limit global warming to a rise of 2 °C (based on a long-term 450 ppm concentration of GHG), according to a new report by the Netherlands Environmental Assessment Agency (PBL).
Bank of America has joined Stanford University’s Global Climate & Energy Project (GCEP), a collaboration of academic and business experts that identifies and supports new avenues of research to make environmentally sustainable, low-cost energy available to everyone. All of humankind needs energy that is reliable, cleaner and more affordable.
The findings suggest that developing nations are moving toward cleaner power but not nearly fast enough to limit global CO 2 emissions. The Climatescope results come just ahead of next month’s United Nations-supported climate negotiations in Madrid. billion or 18% came from sources outside those countries. billion in 2018.
The hydrogen strategies recently adopted by the state of North Rhine-Westphalia as well as those of the German Federal Government and the European Union underline the importance of hydrogen for a climate-neutral society. At its core, our climate transformation is based on the use of hydrogen. It is important to plan ahead.
billion investment plan to support the transition to zero-emission transportation. The investment plan recognizes that to meet the state’s clean air and climate goals California needs more clean cars, trucks and buses along with community-led efforts to create walkable, bikeable, transit-friendly places for everyone.
LanzaJet, a sustainable fuels technology company and renewable fuels producer, has secured financing for its Freedom Pines Fuels plant in Soperton, Georgia ( earlier post ), through the Microsoft Climate Innovation Fund. LanzaJet produces SAF and renewable diesel from low-carbon, sustainable ethanol sources.
SolarCity and Honda have renewed their partnership with a new fund expected to finance $50 million in solar projects. The new commitment will make solar power more affordable and available to Honda and Acura customers and dealerships in the US. The $50-million fund is a follow-up to a $65-million fund the companies created in 2013.
To achieve climate neutrality by 2050, the clean hydrogen market capacity can grow to 170 million tons (MtH 2 eq) in 2030 and to 600 MtH 2 eq in 2050. Overall, this outlook shows clean hydrogen delivering crucial carbon emission reductions. trillion in developing economies. trillion in developing economies.
US states are in a unique position to bring down transportation-related GHG emissions, given their primary role in setting statewide transportation policy and directing large amounts of transportation funding. greenhouse gas (GHG) emissions from the transportation sector, and in most cases make decisions that will likely increase.
The Environment Committee of the European Parliament voted to include CO 2 emissions from the maritime sector in the EU Emissions Trading System (ETS). A global ambitious agreement on GHG emissions from shipping is urgently needed, they add. This is more than the emissions of any EU member state. Next steps.
introduced legislation that would set an escalating fee on greenhouse gas emissions from large stationary sources to fund investments in energy efficiency and sustainable energy technologies and also provide rebates to consumers to offset increases in energy prices. Among the financing provisions of the legislation are: Price on carbon.
This figure includes investment in projects—such as renewables, storage, charging infrastructure, hydrogen production, nuclear, recycling and CCS—as well as end-user purchases of low-carbon energy devices, such as small-scale solar systems, heat pumps and zero-emission vehicles.
The shift to electric mobility is in line with ongoing efforts to reduce the world’s dependence on fossil fuels, and reduce harmful greenhouse gas emissions responsible for climate change. In the DRC, this would mean building processing plants and refineries that would add value and, potentially, jobs within the country.
The European Investment Bank (EIB) will grant financing of up to €300 million (US$426 million) to Valeo for its current research projects aiming to reduce the fuel consumption and CO 2 emissions of cars and improve active safety. Tags: Europe Financing Policy Vehicle Manufacturers. billion (US$4.8 billion (US$4.8
The project will enable at least 44 buses in Ride On Montgomery County’s transit fleet to transition from diesel to electric, advancing the County’s goal to reach net zero carbon emissions by 2035, reducing lifetime emissions by more than 155,000 tons, while delivering resilience to climate events and power outages.
from the US, and New York climate investor Albert Wenger. Hydrogen production is also a major emitter of CO 2 , generating approximately 1000 million tons or more than 2% of global O 2 emissions. This financing round will enable the production of Divi-H at an industrial scale, under the first two mass manufacturing lines.
The Smith School of Enterprise and the Environment at the University of Oxford recently published a report recommending that individual governments take more action to curb their own greenhouse gas emissions and put pressure on other governments to do the same. International climate negotiations can only go so far.
Ford Motor Company and its financing subsidiary, Ford Motor Credit Company, introduced the North America auto industry’s first sustainable financing framework, focusing on and paying for ambitious plans in vehicle electrification and other environmental and social areas. Vigeo Eiris, an arm of Moody’s Corp.,
The UN Climate Change Conference in Cancun, Mexico, ended on Saturday with the adoption of a package of decisions that set all governments more firmly on the path towards a low-emissions future and support enhanced action on climate change in the developing world, according to the UN Environment Programme.
Brazil’s Minister of Environment Izabella Teixeira and Brazilian National Development Bank (BNDES) President Luciano Coutinho announced the launch of a new credit line to support projects focused on greenhouse gas reduction and climate change solutions.
The results from the Maritime CCS (carbon capture and storage) research and development project show that the concept is technically feasible and capable of reducing ship CO 2 emissions by up to 65%. Costas Pantelides, Managing Director of PSE.
Clean hydrogen is indispensable to reduce industrial carbon emissions and contribute to our energy independence from Russia. The Joint Declaration also features Commission actions to put in place a supportive regulatory framework, facilitate access to finance and promote efficient supply chains.
billion investment plan that will increase access to clean vehicles and clean mobility options through a wide variety of projects that support the transformation of California’s vehicle and equipment fleet to zero-emission. billion budget that builds on programs to support zero-emission vehicles and their infrastructure over the past decade.
The report from a task force assembled by the CEPS (Centre for European Policy Studies), a Brussels-based think tank, on European transport policy has concluded that the EU’s goal of a 60% greenhouse gas (GHG) emissions reduction in the transport sector in 2050 compared to 1990 levels is possible, but at a cost.
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