UK has unveiled its biggest round of clean energy subsidies, including for 10 onshore wind projects, signalling a revival for a sector has been virtually banned in the UK in recent years. Subsidies, known as “contracts for difference” were also given for 7 gigawatts of offshore wind, and for new technologies such as floating wind…
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Big global emitters are calling into question the US’s commitment to tackling climate change, following legislative setbacks capped by the Supreme Court ruling against federal regulation of carbon emissions. With four months until the UN’s COP27 climate summit in Egypt, the US failure to implement its signature climate policies is weighing on the outcome of…
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Europe’s largest biogas producer has warned that it will take years to significantly boost production despite the EU pushing for a rapid increase in output to reduce reliance on Russian gas. Biomethane is chemically identical to natural gas but produced through the controlled decomposition of animal and industrial waste. The EU wants output to more…
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European lawmakers have approved a law designating gas and nuclear as sustainable energy sources, as part of a system that was intended to influence direct investment in clean energy. The vote in Strasbourg on Wednesday followed months of heated debate over the inclusion of gas and nuclear in the EU’s financial labelling “taxonomy”, as the…
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This article is an on-site version of our Moral Money newsletter. Sign up here to get the newsletter sent straight to your inbox. Visit our Moral Money hub for all the latest ESG news, opinion and analysis from around the FT What should central banks do about climate change? It’s one of the hottest economic…
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At first glance, the principle behind last week’s US Supreme Court decision preventing the Environmental Protection Agency from regulating carbon emissions seems perfectly sensible. While federal agencies are empowered to regulate specific sectors, the court said, unelected bureaucrats cannot rush into new areas and pump out whatever costly rules they want. On “major questions”, Chief…
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BYD, the Chinese auto group backed by Warren Buffett’s Berkshire Hathaway, has dethroned Elon Musk’s Tesla as the world’s biggest electric vehicle producer by sales, signalling China’s rising dominance of the sector. Shenzhen-based BYD sold 641,000 vehicles in the first six months of the year, a more than 300 per cent jump from the same…
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Australian energy start-up Sun Cable has hired investment banks Macquarie and Moelis to raise more than A$30bn (US$20.6bn) over the next 18 months to fund a giant solar farm and the world’s longest undersea power cable. It will be the first time an Australian renewables development worth tens of billions of dollars goes to capital…
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For several days at the end of May, an unusual collection of scientists, lawyers and judges from Europe could be found in the Peruvian Andes almost 5,000 metres above sea level, watching as a drone flew up to a huge, but shrinking, glacier. The setting was spectacular: the bright blue Lake Palcacocha sparkled in the…
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