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COP25 ends with no deal on carbon markets; EU commits to climate neutrality


Despite turmoil, project finance remains keen on offshore wind

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An Energy Company Assesses Datacenter Demand for Renewable Energy


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COP25 ends with no deal on carbon markets; EU commits to climate neutrality

Countries at COP25 fail to reach deal on carbon market rules

After more than two weeks of negotiations, delegates from more than 190 countries went home without reaching an agreement on how to account for carbon reductions and markets under the Paris Agreement on climate change.

EU commits to climate neutrality despite pushback from Poland

EU leaders hailed an agreement on targeting bloc-wide climate neutrality by 2050 following drawn-out discussions but gave Poland another six months to get on board after the country held out for more money to finance costly coal plant closures.

White House contender Bloomberg wants coal-free, 100% clean energy by 2050

Former New York City Mayor and 2020 White House hopeful Mike Bloomberg called to shut down all U.S. coal plants by 2030 and for the country to rely fully on clean energy by 2050 as part of a campaign energy plan.

Eversource aims to become carbon neutral by 2030

Eversource Energy announced plans to become carbon neutral by 2030, a deadline that it said would make it the first investor-owned utility in the U.S. to achieve carbon neutrality.

Iberdrola targets 'virtually' zero emissions in Europe by 2030

Iberdrola SA will have "virtually zero emissions" in Europe by 2030 and will be emissions neutral globally by 2050, Chairman and CEO Ignacio Galán said at the COP25 climate change summit in Madrid.

Engie to shutter 1 GW of coal by 2024, replacing capacity with renewables

French utility Engie SA unveiled plans to close roughly 1 GW of coal-fired generation in Chile and Peru between 2019 and 2024, and replace the capacity with new renewables projects.

EU wants €100B lever to convince skeptical states of 'Green Deal' strategy

The European Commission unveiled a slate of climate-related policy proposals, charting a wide-ranging roadmap to faster emissions cuts that includes a €100 billion funding mechanism to help Eastern European states who still rely heavily on fossil fuels.

Displacing fossil fuels will take more work, panelists say

While renewables are starting to compete with baseload resources in the U.S., getting support from states and demand from investors, a transition away from fossil fuels will take more time, BNP Paribas' head of energy, natural resources and renewables said.

Executive: NuScale ready to capitalize on US decarbonization efforts

Relying on renewable resources and energy storage alone will be a difficult and expensive path to decarbonizing the U.S. power sector, creating an opening for the deployment of smaller advanced nuclear plants, NuScale Power LLC Chief Strategy Officer Chris Colbert said in a recent interview.

US House passes package of bills to bolster coastal resilience

The U.S. House of Representatives passed a package of bills aimed at helping coastal and Great Lakes communities and their economies remain resilient in the face of growing climate change-related impacts such as sea-level rise, extreme weather events and storm surge.

Petrochemical applications for federal clean energy program raise alarms

Two companies have applied under a federal clean energy program for a combined $3.9 billion in loan guarantees to back the construction of a pair of petrochemical facilities, sparking outcry among U.S. lawmakers who say the projects directly contradict the program's stated goals.

US EPA sees no need for new financial requirements for petroleum, coal sectors

The U.S. Environmental Protection Agency proposed to not impose additional financial requirements for the petroleum and coal products manufacturing industry.

Goldman Sachs ends some fossil-fuel funding, ups clean energy target to $150B

Goldman Sachs Group Inc. has pledged to cut off funding for certain new fossil fuel-related projects, facilitate another $110 billion in clean energy solutions by 2025, and seek out additional financing options to address the physical impacts of climate change. But the investment banking and management firm stopped short of pledging to pull funding for or divest from coal mining, oil and gas companies or the electric utilities that invest heavily in coal-fired generation.

Liberty Mutual rolls out new coal exclusions; existing ties to phase out by 2023

Liberty Mutual Group Inc. will no longer accept underwriting risk for companies that derive more than 25% of their profit from the extraction or production of energy from thermal coal.

US-bound train derails in Saskatchewan spilling 9,500 barrels of oil products

The Transportation Safety Board of Canada said an Oklahoma-bound train derailed in a remote area of Saskatchewan, releasing about 9,500 barrels of petroleum products onto the ground and into the air.