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IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]

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IEEFA Update: Coking coal’s decline likely to follow the path of thermal coal’s progressive demise

Technology disruption the likely theme of global energy markets in 2021

There has been a growing tsunami of climate commitment announcements combined with fossil fuel exclusion policies by globally significant financial institutions during December 2020, building on the pledges two months earlier by the leaders of China, Japan and South Korea committing to net zero emissions targets. On top of that, three leading corporate announcements show […]

December 22, 2020 Read More →

Amazon signs global deals for 3.4GW of new renewable energy generation

S&P Global Market Intelligence ($): Amazon.com Inc. signed contracts to purchase power from 26 renewable energy projects on four continents totaling 3.4 GW, as part of its target to achieve net-zero carbon emissions by 2040. The wind and solar projects are located in Australia, France, Germany, Italy, South Africa, Sweden, the U.K. and the U.S. […]

December 10, 2020 Read More →
IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits
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IEEFA: From zero to fifty, global financial corporations get cracking on major oil/gas lending exits

Accelerating divestment from oil and gas shows similar early trends to global financial institution’s exit from coal

20 October 2020 (IEEFA): Fifty globally significant financial institutions have introduced policies restricting oil sands and/or oil and gas drilling in the Arctic including 23 to date this year, highlighting global capital continues to flee fossil fuels, according to a new tracker developed by the Institute for Energy Economics and Financial Analysis (IEEFA). “Momentum is […]

Europe’s installed floating offshore wind capacity could hit 7GW by 2030, trade group says

Offshore Wind Journal: WindEurope chief executive Giles Dickson says floating offshore wind has “huge growth potential, is no longer a niche technology,” and commercial-scale projects are ready to be built. Speaking at the FOWT 2020 in Marseille, France, Mr. Dickson told delegates that floating wind has matured and achieved significant cost reductions over the past […]

September 10, 2020 Read More →

Vattenfall wants to close 1.6GW Moorburg coal plant in Germany

Clean Energy Wire: Swedish utility Vattenfall wants to shut down its youngest and most efficient coal-fired power plant in Germany because it is unprofitable. After participating in the first hard coal phase-out tender, CEO Magnus Hall said that if his company’s bid is successful, the 1.6 gigawatt Moorburg plant in the city of Hamburg would […]

September 8, 2020 Read More →

Green steel pilot project begins operating in Sweden

Reuters: Swedish green steel venture HYBRIT, owned by SSAB, state-owned utility Vattenfall and miner LKAB, on Monday started test operations at its pilot plant for fossil-free steel in Lulea, Sweden. A successful development of the HYBRIT project could have big implications for efforts to cut carbon dioxide emissions, with SSAB alone accounting for 10% of […]

August 31, 2020 Read More →

RWE targeting renewables, hydrogen for future growth opportunities

S&P Global Market Intelligence ($): It still owns one of Europe’s largest coal power fleets and ranks among the continent’s biggest carbon emitters, but on RWE AG’s half-year earnings call, the focus was squarely on renewable energy. Through its green power unit, RWE Renewables GmbH, the company is chasing more capacity development and portfolio acquisitions […]

August 14, 2020 Read More →

Sweden’s Vattenfall takes $1 billion charge to account for falling value of Moorburg coal plant in Germany

Bloomberg: Vattenfall AB took a massive hit on the value of a new German coal plant in yet another sign of how the fossil fuel is struggling in Europe. The Swedish utility wrote down the value of the Moorburg facility in Hamburg by 9.1 billion kronor ($1 billion), according to its first-half earnings statement on […]

July 21, 2020 Read More →

Iberdrola continues green energy investment binge, buys options for 9GW of Swedish offshore wind

Bloomberg: Iberdrola SA signed an agreement that gives it the option to take majority stakes in a number of Swedish offshore wind farm developments that would drastically increase its market share in wind parks at sea. The Spanish utility could take majority ownership in as many as eight projects developed by Svea Vind Offshore AB, […]

June 23, 2020 Read More →

Danish government approves plans for massive offshore wind build-out by 2030

Renewables Now: The Danish parliament has approved a climate act that, among others, will pave the way for the establishment of two energy islands and an offshore wind farm of around 1 GW. The climate act sees the energy islands connecting 5 GW of offshore wind capacity by 2030, up from the 4 GW announced […]

June 23, 2020 Read More →