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HSBC pledges to cut off coal financing by 2040 following investor pressure

Business Green

Banking giant commits to ending support for coal by 2040 after reaching compromise with shareholders. The board-backed proposal commits the bank to phasing out all project finance, corporate finance, and underwriting of coal-fired power and thermal coal mining by 2030 in the EU and OECD, and by 2040 globally.

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Empowering India’s Energy Revolution with AI and Prosumers

AutoGrid

With a power grid that has been notoriously unreliable in the past, India’s goal to transform formerly passive consumers into prosumers would seem an uphill battle. The stakes are particularly high because India is the world’s third largest energy consumer.

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Unlocking Europe’s Energy Transition with AutoGrid

AutoGrid

The European Imperative Against a backdrop of geopolitical uncertainty, the imperative for both private and public organizations in Europe is clear: establish a reliable, affordable, and sustainable energy supply chain. Norway leads in electrifying transportation, with 80% of its new car sales in the last year being electric vehicles.

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Carbon Capture: Silver Bullet or Mirage?

GreenTechMedia

Prospects for carbon capture received a boost in September when the International Energy Agency (IEA) said the emerging technology is “ critical ” to a clean-energy transition. CCUS could go a step further by using sequestered carbon as a feedstock for industrial processes or synthetic fuels. The answer is unclear.

Carbon 130
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'Fundamental change': How write downs and bankruptcies are fuelling stranded asset fears

Business Green

Shell and BP are writing down assets while a raft of US fracking firms are entering bankruptcy protection – change is coming to the fossil fuel industry faster than anyone expected. The stranded asset hypothesis just got real. However, the contention that the new price projections are more realistic is contestable.

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The carbon capture race, and what it means for jobs

Envirotec Magazine

Carbon capture is becoming big business. So what is the energy sector doing to address this? Despite further investment in renewable energy, fossil fuel usage is still increasing, and it’s expected that fossil fuels will remain the dominant form of energy by the end of this century.

Carbon 130
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Global Briefing: Coronavirus crisis will have 'negligible' impact on emissions without green recovery, study warns

Business Green

All the green business news from around the world this week. The study drew on data from 123 countries that together account for 99 per cent of fossil fuel emissions. In contrast, with an economic recovery tilted towards green stimulus and reductions in fossil fuel investments, it is possible to avoid future warming of 0.3C