Total is paying $2.5 billion for a share in Indian renewable energy firm Adani Green Energy Limited (AGEL) and a portfolio of solar power assets, marking the latest step in the French energy company’s drive to reduce its dependence on oil.
For its investment, Total will get a 20% stake in AGEL and a seat on its board, as well as a 50% share in the Indian firm’s portfolio of solar power assets, the French firm said.
AGEL is controlled by Indian conglomerate Adani Group and has a market capitalization of about 1.483 trillion Indian rupees ($20.25 billion).
PepsiCo plans to reduce absolute greenhouse gas (GHG) emissions across its value chain by more than 40% over the next decade and is aiming to achieve net-zero emissions by 2040.
While the food and beverage giant previously aimed for net-zero emissions by 2050, the growing impact of global warming prompted executives to double down on its goal, the company said in a statement on Thursday.
Now, the Purchase, NY-based corporation seeks to reach net...
TOKYO (Reuters) - Japan aims to eliminate gasoline-powered vehicles in the next 15 years, the government said on Friday in a plan to reach net zero carbon emissions and generate nearly $2 trillion a year in green growth by 2050.
The “green growth strategy,” targeting the hydrogen and auto industries, is meant as an action plan to achieve Prime Minister Yoshihide Suga’s October pledge to eliminate carbon emissions on a net basis by mid-century.
Su...
German luxury carmaker BMW is planning to step up its production of electric vehicles, Chief Executive Oliver Zipse told German daily Augsburger Allgemeine.
“We are significantly increasing the number of electric vehicles. Between 2021 and 2023, we will build a quarter of a million more electric cars than originally planned”, Zipse told the newspaper’s Monday edition according to a pre-released version.
BMW wants roughly every fifth car it sells to be powered by an electric engine by 2023.
Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook.
In an update ahead of its fourth quarter results on February 4, Shell said the post-tax charge was due in part to impairments on its Appomattox field in the U.S. Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts.
It said some charges involved in its restructuring would be recognized in 2021.
Flying taxi startup Lilium will set up its first U.S. hub near Orlando, putting more than 20 million Floridians within range of the winged electric aircraft that can take off vertically and cover 300 km (185 miles) in a single one-hour hop.
Munich-based Lilium said on Wednesday its first U.S. Vertiport would be at Lake Nona, a futuristic smart city being built near Orlando International Airport by the Tavistock Development Group.
The hub, due to start operations in 2025, would be Lilium’s second after a similar Vertiport planned in Duesseldorf, capital of Germany’s most populous state of North Rhine-Westphalia.
Larry Fink, chief executive of the world’s largest asset manager BlackRock, said on Tuesday he backed the UK’s recent move to make the reporting of corporate risk related to climate change mandatory, and urged the United States to follow suit.
“We welcome the UK Chancellor’s announcement yesterday (of) mandatory TCFD reporting,” Fink told the Green Horizon Summit in London, referring to the Taskforce on Climate-Related Financial Disclosures, which will be required from large companies and financial institutions by 2025.
Also on Monday, the Financial Conduct Authority said premium listed companies would need to make the disclosures from January.
BERLIN (AP) — The United States on Wednesday formally left the Paris Agreement, a global pact it helped forge five years ago to avert the threat of catastrophic climate change.
The move, long threatened by U.S. President Donald Trump and triggered by his administration a year ago, further isolates Washington in the world but has no immediate impact on international efforts to curb global warming.
U.S. oil refineries are moving aggressively to produce renewable diesel, partly to cash in on Canada’s greener fuel standard before Canadian refiners modify their own plants.
Canadian Prime Minister Justin Trudeau’s government intends to present its Clean Fuel Standard this year, aiming to cut 30 million tonnes of emissions by 2030.
Renewable diesel, made by processing spent cooking oil, canola oil or animal fats, can be used in high concentrations or without blending in conventional diesel engines.
Airbus has unveiled three visual concepts for “zero emission” airplanes to be powered by hydrogen.
It is the planemaker’s latest effort to draw public attention to its “zero-emission” ambitions as European governments push for cleaner technology in their post-COVID recovery plans.
Airbus AIR.PA has set itself a deadline of 2035 to put a carbon-free commercial aircraft into service, a target engine makers like Safran have described...
© 2021 Equities News | Equities.com, Inc.
* All dates and time are being displayed in Eastern Standard Time (EST).
