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Globalrenewable 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). Renewable energy investment slightly declined in 2018, with modest growth through 2019.
Hyundai Motor Group (the Group) announced that five key affiliate companies, including Hyundai Motor Company and Kia Corporation, will join Climate Group’s RE100 , a global initiative committed to moving toward 100% renewable energy. Hyundai Motor and Kia, along with Hyundai Mobis Co., Hyundai Wia and Hyundai Transys Inc.,
The Volvo Cars manufacturing plant in Chengdu, the company’s largest in China, is now powered by 100% renewable electricity, taking the company’s globalrenewable electricity mix in its manufacturing network to 80%. By 2040, Volvo Cars aims to be a climate-neutral company. The new contract addresses the last 30%.
Despite the much-vaunted megatrend involving the global electrification drive and shift to renewable energy , the most ambitious pledges by Big Oil to pursue net-zero agendas remain weak at best. BIT:ENI) recently unveiled what has been hailed as the most ambitious climate pledge yet by an oil supermajor.
The Paris Agreement calls for global warming to be limited to 2 ?C One path to achieving this is with renewable synthetic fuels (e-fuels). Bosch outlines seven reasons why renewable synthetic fuels should be part of tomorrow’s mobility mix: Time. Renewable synthetic fuels have long since left the basic research phase.
In 2021, global investment in the low-carbon energy transition totaled $755 billion, up 27% from $595 billion in 2020 and just $264 billion in 2011, according to Energy Transition Investment Trends 2022, a new report published by research firm BloombergNEF (BNEF). degrees of global warming. from the year prior.
The International Council on Clean Transportation (ICCT) just dropped its third annual Global Automaker Rating, showing that Chinese carmakers dominate the zero-emission vehicle (ZEV) space. China now accounts for over 11 million EVs sold annually – over half of global EV sales. ” India’s Tata Motors also hit a turning point.
This clearly shows the positive role America’s existing energy infrastructure can play in creating a sustainable future and fighting climate change. It enhances Neste’s leading position, building on the company’s more than 15-year head start in creating an end-to-end renewable product value chain.
In a commentary in the journal Joule , Rob McGinnis, founder and and CEO of Prometheus , a company that is developing technology to remove carbon dioxide from the air and turn it into fuels, discusses the technology advances that could lead to the potential price-competitiveness of renewable gasoline and jet with fossil fuels. 2020.01.002.
General Motors plans to source 100% renewable energy to power its US sites by 2025—five years earlier than previously announced, and 25 years ahead of its initial target that was set in 2016. Sourcing renewable energy is a critical component of GM’s plans to decarbonize its portfolio.
Arcadia’s technology matches home energy consumption with renewable energy sources from a variety of US wind and solar projects using renewable energy certificates, all without any installation or disruptions to their utility service. Audi aims to achieve net CO 2 neutrality globally across the lifecycle of its vehicles by 2050.
“There is evidence that fossil fuel subsidies are socially inequitable, that they encourage smuggling and waste, and distort economies in ways that undermine economic efficiency while harming the environment and the climate,” wrote Jim Krane, the Wallace S.
DHL Global Forwarding, the air and ocean freight specialist of Deutsche Post DHL Group, says it will be neutralizing the carbon emissions of all less-than-container load (LCL) ocean freight shipments from 1 January 2021. To fight against climate change, the transport sector needs true decarbonization.
Global energy-related carbon dioxide emissions rose by 6% in 2021 to 36.3 The rebound of global CO 2 emissions above pre-pandemic levels has largely been driven by China, where they increased by 750 million tonnes between 2019 and 2021. billion tonnes, accounting for 33% of the global total. billion tonnes. billion tonnes.
Ecology, a transportation and logistics company in California, has switched its fleet of more than 600 trucks to run on Neste MY Renewable Diesel and is reporting cleaner fuel filters, fewer maintenance problems and reductions in tailpipe emissions. Neste MY Renewable Diesel reduced climate emissions by 8.3
Neste Corporation has made the final investment decision to invest into new renewable products production capacity in Rotterdam. The decision is based on demand for renewable products growing substantially with customers’ higher climate ambitions. million ton capacity for renewable products in Rotterdam is the largest in Europe.
Seeking to slash CO 2 emissions from its North American manufacturing operations, Honda has entered into long-term virtual power purchase agreements (VPPAs) for renewable wind and solar power that will cover more than 60% of the electricity that Honda uses in North America. will deliver to the grid by the end of 2020.
Four key Hyundai Motor Group affiliate companies—Hyundai Motor Company (Hyundai Motor), Kia Corporation (Kia), Hyundai Mobis, and Hyundai Wia—are now members of Climate Group’s RE100 , a global initiative committed to large corporates moving toward 100% renewable electricity.
Ford Motor Company intends to achieve carbon neutrality globally by 2050, while setting interim targets to address climate change challenges more urgently. We don’t have all the answers yet but are determined to work with all of our global and local partners and stakeholders to get there. Ford is investing more than $11.5
General Motors and Shell, through its wholly owned subsidiary MP2 Energy, LLC, are collaborating to provide comprehensive energy solutions programs to GM’s customers and supply chain partners, including fixed-rate home energy plans backed by 100% renewable energy resources. of EV charging.
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. Enhance resilience to physical climate risks. Rio Tinto’s new 2030 climate targets are linked to executive remuneration.
In February 2022, GTI Energy, S&P Global Commodity Insights and the National Energy Technology Laboratory (NETL) launched the Open Hydrogen Initiative (OHI), a collaboration to further transparency into the environmental impact of hydrogen production and help unlock its full potential as an important driver of energy transitions.
The fuel, jointly developed by Volkswagen, the Coburg University and other project partners, contains up to 33% renewable components based exclusively on residual and waste materials and enables CO 2 savings of at least 20% compared to conventional diesel thanks to the use of biofuels. Volkswagen employees tested the new fuel initially.
The National Renewable Energy Laboratory (NREL) has released a comprehensive vision for deeply decarbonizing transportation. It is a strategy rooted in cross-cutting research and engineering to enable industry stakeholders, communities, government agencies, and early adopters to meet their climate goals.
Building on its capability of proactive transformation, Neste has initiated a strategic study on transitioning its refinery in Porvoo, Finland to non-crude oil refining and into a globally leading renewable and circular solutions site. Neste’s growth strategy is centered on renewable and circular solutions. Porvoo refinery.
earlier post ), a new study by a team at Environmental Defense Fund finds that the climate impact of hydropower facilities varies widely throughout the world and over time, with some facilities emitting more greenhouse gases than those burning fossil fuels. They also estimated emissions caused by flooding the reservoir.
Cummins will provide hydrogen fuel cell electric powertrains integrated into selected OEM partners’ heavy-duty trucks for Air Products, as Air Products begins the process of converting its global fleet of distribution vehicles to hydrogen fuel cell vehicles. Cummins and Air Products expect the demonstration phase to begin in 2022.
The ICCT has conducted a comprehensive global and temporal life-cycle assessment of GHG emissions from a variety of alternative passenger car powertrains and fuels. This study incorporates the near-term global warming potential of methane leakage emissions of natural gas and natural gas-derived hydrogen pathways. Source: The ICCT.
Walmart announced it is targeting zero emissions across the company’s global operations by 2040. We face a growing crisis of climate change and nature loss and we all need to take action with urgency. —Doug McMillon, president and CEO, Walmart, Inc.
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.
Synthetic fuels for passenger vehicles, commercial trucks or even marine applications could play an important role in achieving a near-zero emissions mobility, by using renewable energy sources, such as solar or wind power, to create a closed CO 2 cycle when viewed from a holistic “well-to-wheel” perspective.
Porsche is investing US$75 million in HIF Global LLC, a holding company of internationally active project developers of eFuel production facilities. In total, an amount in the low nine-figure USD range is flowing into HIF Global LLC. AME remains the majority shareholder of HIF Global LLC. Earlier post.).
Our ultimate goal is to fight climate change and build a sustainable future. We are running out of time to limit global warming. We believe that there is no way around hydrogen to realize the energy transition towards renewables.
For this reason, Bosch and Weichai aim to steadily refine this technology with an eye to protecting the climate and environment. Electric vehicles are climate-neutral if the charging power and hydrogen are sourced from renewables. Bosch and Weichai launched their joint development project in September 2018. liters displacement.
It will also act as a base for defining Wärtsilä’s role in this field as part of the global transition to carbon-neutral solutions. In the future, fossil fuels will be replaced by these renewable synthetic fuels to mitigate climate change, the company said.
BP released the 68 th annual edition of the BP Statistical Review of World Energy (BP Stats Review), a comprehensive collection and analysis of global energy data. This year’s edition highlights the growing divergence between demands for action on climate change and the actual pace of progress on reducing carbon emissions.
In the report, Deloitte uses clean hydrogen to encompass both green hydrogen— produced from renewable electricity via electrolysis—and blue hydrogen—produced via natural gas coupled with carbon capture and storage. trillion per year by 2050. trillion in developing economies.
billion in new renewable energy capacity in 2020, up 2% on the year, helped by the biggest-ever build-out of solar projects and a $50-billion surge for offshore wind. Global investment in carbon capture and storage (CCS) tripled to $3 billion, and that in hydrogen was $1.5 Renewable energy investment. billion (down 11%).
Volkswagen is investing in climate protection projects to compensate for unavoidable CO 2. Projects are certified according to the highest international standards Verified Carbon Standard (VCS) as well as Climate Community and Biodiversity Standard (CCB) or Gold Standard. 3, as well as emissions from other areas.
Researchers say China will need to generate more than half of its clean power from wind and solar by 2035 to align with globalclimate goals. The post China must ramp up clean power efforts to align with globalclimate goals appeared first on Innovation News Network.
Volkswagen was one of the first car manufacturers to subscribe to the goals of the Paris Climate Agreement that aim to limit global warming to significantly less than two degrees by 2050. Only unavoidable emissions are offset by climate protection measures. The use of LNG not only reduces CO 2 emissions.
Raven SR, a renewable fuels company ( earlier post ), announced the closing of a strategic investment from Samsung Ventures, expanding Raven SR’s reach into the global market, especially in Asia-Pacific region. Samsung Ventures’ investment will expand Raven SR’s global reach to South Korea, a driving force in the hydrogen economy.
ExxonMobil and Global Thermostat signed a joint development agreement to advance technology that can capture and concentrate carbon dioxide emissions from industrial sources, including power plants, and the atmosphere. ExxonMobil and Global Thermostat are also exploring opportunities to identify economic uses for captured carbon dioxide.
In a globalized world, sustainable and clean fuels are essential for climate-neutral logistics. While battery-electric trucks can operate efficiently within last-mile delivery, fuels from renewable energies such as hydrogen are essential for zero-emission line-haul. —Alberto Nobis, CEO DHL Express Europe.
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