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Energy Markets

Environment

Pollution

Lula, Brazil's Lula, makes a diplomatic push to get an early climate agreement at the COP30 Summit

Brazil's President met with key negotiators on Wednesday at the COP30 Summit in an effort to reach a quick agreement on the most controversial issues of the global climate talks. These include fossil fuels, climate finance and other hot-button topics. Nearly 200 countries have gathered for a two-week U.N. Summit in the Amazonian city of Belem to increase multilateral action on climate change despite the absence from the U.S. There are still rifts over key issues, which is a new test for the international commitment to slowing global warming. Brazil hopes to break the recent trend of climate summits that...

Pollution

Pro-Palestinian demonstrations on Hamas' anniversary of attack draw criticism

On Tuesday, opponents of Israel's action in Gaza protested in several cities to mark the second anniversary since the Hamas attack that started the war. This was despite the denials by politicians that such marches could glorify violence. Hamas gunmen took 251 hostages and killed 1200 people in an attack on 7 October 2023. Gaza's health officials report that Israel launched an offensive against a militant Palestinian group in Gaza, which has claimed the lives of more than 67,000 Palestinians. Pro-Palestinian demonstrations took place in Sydney, London, Paris and other European cities, including Athens Thessaloniki Istanbul and Stockholm. The protests...

Environment

Bangladeshi textile firms use technology to sort out waste

Software tracks waste from factories to recyclers Export growth could be boosted by more recycling The key to increasing recycling is visibility of waste streams Tahmid Zami Tahmid Zami Cloud-hosted software enables manufacturers to segregate and label waste, register it on a digital platform, and track its movement between factories, handlers, and recyclers. Rizvan hasan is the country leader of Reverse Resources. This company produces software. He said: "Reverse Resources bridges Bangladesh's waste streams to international recycling markets. This ensures that waste handlers enjoy greater business opportunities and fairer prices." According to a report published last year by GIZ, the...

Environment

Europe's electric vehicle industry urges EU to not delay CO2 emissions targets

More than 150 executives from Europe's electric vehicle industry signed a Monday letter urging the European Union not to abandon its zero-emission target for cars, vans and trucks by 2035. Signatories from the electric car industry, including Volvo Cars, Polestar and others, have warned against any delay in meeting the targets. They said that this would lead to a stalling of Europe's EV Market, giving an advantage to competitors around the world and eroding the confidence of investors. This follows a separate, end-of-August letter from the heads of European automotive manufacturers' and suppliers' associations to European Commission president Ursula von...

Environment

Daimler Volvo and other truck manufacturers sue California for blocking emissions regulations

Four major truckmakers including Daimler, Volvo and others sued California in order to prevent the state from enforcing the strict emission standards that U.S. president Donald Trump declared null in June. Daimler Volvo Paccar and International Motors, formerly Navistar said that they were "caught in crossfire" when Trump revoked waivers granted during the Biden Administration which allowed California to set its own standards. In a Monday complaint, truckmakers claimed that Trump's decision to revoke the U.S. Environmental Protection Agency's approval of California’s plan to increase zero-emissions heavy-duty trucks sales and reduce nitrogen dioxide emissions preempted state enforcement. The truckmakers said...

Environment

Health Rounds: Plastic waste can be used to make a widely used pain medication

Researchers have found that common bacteria can convert plastic waste into acetaminophen (an over-the-counter painkiller), which researchers discovered. Acetaminophen is made from fossil fuels, and it's the main ingredient of Tylenol, also known as Paracetamol in certain countries. AstraZeneca helped develop the new method that transforms a polyethylene terephthalate molecule into Tylenol’s active ingredient. The process produces virtually no carbon dioxide emissions. Researchers said that the plastic can be converted into the drug in less than 24 hrs at room temperature, by using a similar fermentation process to beer brewing. PET, a lightweight, strong plastic that is used in water...

Climate Change

The EU's leading legislator on sustainability laws suggests more cuts

The European Union needs to further reduce the number of businesses subject to its corporate sustainability and environmental rules, said the European Parliament Member leading the negotiations on these policies on Thursday. The European Commission announced in February a "simplification package" that would allow European companies to compete more effectively with their foreign competitors by reducing the reporting requirements and obligations for sustainability. According to Swedish center-right legislator Jorgen Warborn who has proposed amendments that would further scale back laws to cover only companies with at least 3,000 employees and a turnover of over 450 millions euros ($521million) he believes...

Environment

German nuclear fusion company Proxima raises development funding of 130 million Euros

Proxima Fusion is a Munich-based company that specializes in nuclear fusion technologies. It announced on Wednesday that it had raised 130 million Euros ($148.8 Million) to move it closer to its goal to develop a novel power station. Why does it matter? Around the world, dozens are exploring nuclear-fusion technology, which is a newer form of energy generation that harnesses the same intense process that powers our sun. There is fierce competition between private and public companies, governments of European countries, United States, and China and technology options such as Plasma confinement used by Proxima or lasers. The new conservative...

Environment

Firefighters in Europe want more money and staff

Firefighters claim they are understaffed Wildfires and house fires are on the increase EU launches Preparedness Strategy By Beatrice Tridimas Fire services are under pressure across Europe due to wildfires fueled by hotter and drier conditions, as well as household fires that are, according to unions, sometimes caused by non-certified solar installations. The firefighters want to see more funding and incentives for the many millions of volunteers that support the system. Pablo Sanchez, the policy lead of the European Federation of Public Service Unions' Firefighter's Network EPSU (EPSU), said: "We have over 1,000 volunteer hours per year." "They treat volunteers...

Climate Change

UK loses its appeal against tougher police powers to curb street protests

The London Court of Appeal rejected Britain's bid to grant police greater powers to impose restrictions on protests on the streets on Friday. Civil rights group Liberty called it a "huge victory for democracy". Liberty has successfully challenged the changes made to public order laws by the former Conservative government. The High Court ruled last year that government exceeded its power by lowering police thresholds to impose conditions. After a brief delay, the Home Office, Britain's interior ministry, appealed the ruling. They argued that ministers could lower the threshold even without new legislation. Akiko Hart, Liberty's director, said that the...

Climate Change

UK loses its appeal against tougher police powers to curb street protests

The London Court of Appeal rejected Britain's bid to grant police greater powers to impose restrictions on protests on the streets on Friday. Civil rights group Liberty called it a "huge victory for democracy". Liberty has successfully challenged the changes made to public order laws by the former Conservative government. The High Court ruled last year that government exceeded its power by lowering police thresholds to impose conditions. After a brief delay, the Home Office, Britain's interior ministry, appealed the ruling. They argued that ministers could lower the threshold even without new legislation. Akiko Hart, Liberty's director, said that the...

Climate Change

Greenland names first Arctic ambassador and pledges sustainable development

Greenland named its first Arctic Ambassador on Friday. It pledged to promote sustainable development for indigenous peoples and to advance green energy for polar communities, as it prepares to preside the Arctic Council. The two-year chairship comes at a moment when U.S. president Donald Trump is trying to assert control over a semi-autonomous Danish Island and when the competition between world powers over the Arctic region has heated up. Global warming could make it easier to access the fossil fuels and mineral deposits that lie beneath the Arctic's land and seabed. The United States sees the Arctic region as vital...

Mining

Electric Utilities

Stocks in the UK rise as industrials and financials gain momentum

Investors analyzed corporate updates and economic statistics ahead of next week's U.S. Federal Reserve rate decision. The blue-chip FTSE 100 closed up 0.2%, while the midcap FTSE 250 gained 0.3%. After the Russia-Ukraine talks broke down, aerospace and defence stocks gained 2.5% for the third session in a row. Rolls-Royce gained 2.6% and BAE Systems about 2.6%. Investment banks and brokerages rose by 2.2%. The investment firm 3i Group topped the FTSE 100 index with a 5.1% increase. Personal goods rose by 2.8%, with Burberry gaining 3% as HSBC increased the price target for the stock. Diageo fell 3.9% as...

Nuclear Power

Swedish industrial giants invest 400 million SEK in new nuclear energy

A group of large Swedish companies signed an agreement with the utility Vattenfall, to invest 42.5 million Swedish crowns (400 million Swedish crowns) in the development of small nuclear modular reactors in Sweden. Industrikraft is a group of 17 industrial firms, including SKF and Volvo AB, that invests in Videberg Kraft. The company was set up to help facilitate the construction of new nuclear energy in Sweden. Industrikraft said that it would also buy a 20% stake later in Videberg Kraft in a Monday joint statement. Vattenfall plans to build small modular units at its existing Ringhals facility in Varo...

Mining

Green steel company Stegra has raised around half of the additional funds it requires, according to its CEO

Henrik Henriksson, CEO of Swedish green steel startup Stegra, said that it has raised around half the additional funds needed to finish a flagship facility and bolster its finances. He expects the banks to provide the remainder in the next six-months. Stegra (formerly H2 Green Steel) said it would raise an additional $1.1 billion to finish construction of its plant in northern Sweden, strengthen finances and to outsource some operations. Henriksson said at a conference held in Stockholm that "about half of the project was completed during the summer." He added that the process to obtain additional funding from the...

Mineral Resources

Carbon Emissions

Carbon Emissions

Quotations-EU unveils plans for reversing the 2035 ban on combustion engines

On Tuesday, the European Commission made public proposals to reverse an effective prohibition on the sale of new cars with internal combustion engines from 2035. This was in response to pressure from Germany and other major automakers. The package proposes to reduce the 2035 target to 90% of the 2021 tailpipe emissions, while also introducing measures to speed up the transition to electric vehicles and give manufacturers more flexibility. The major reactions to the decision are: BMW GERMAN LUXURY CREAMAKER It is a first important step that the EU Commission does not pursue technology bans anymore as a "guiding" principle,...

Climate Change

Letter shows truckmakers asking EU to relax emissions targets

A letter obtained by revealed that European truck manufacturers, including Traton Scania, Volvo, and Daimler Truck, have asked the European Union to relax its CO2 emission rules for this sector. Industry is being pressed to reduce its emissions that are warming the planet. Electric trucks are still a small part of the market because they cost more than diesel versions and buyers worry about charging infrastructure. In a letter dated October 13, the companies demanded changes to the EU credit system, which rewards manufacturers who achieve emissions below the EU targets as well as a linear trajectory from target year...

Carbon Emissions

Sweden and Finland call for revision of EU's forest climate targets

Sweden and Finland may suffer "dire" consequences in the economy if they have to reduce their forest harvest to meet EU climate targets, both countries warned this week. In order to achieve net zero emissions in the European Union by 2050, Sweden has been asked to increase the amount of CO2 that is bound by forests. Both countries claim they will miss the EU Land Use, Land-Use Change and Forestry targets for 2021-2025 and for 2026-30. They blame climate change for the slower growth of trees and increased demand for wood. The Swedish Prime Minister Ulf Kritersson stated on X...

Carbon Emissions

Sweden offers state loans to build new nuclear reactors

The Swedish government proposed Thursday state loans and guarantees of power prices to help companies finance the construction of four nuclear power plants as part of its strategy for increasing electricity output and reducing carbon dioxide emissions. The Swedish government said that the Nordic country could need up to 10 large nuclear reactors in 2045, as industry and transport move away from fossil fuels. Demand for electricity will also increase to 300 terawatt-hours (TWh), from 135 TWh by 2023. The government is now willing to finance the construction costs estimated by previous studies at 10s of billions dollars. The right-wing...

Climate Change

Areim, a Swedish company, has secured $481 million to build sustainable data centres

According to a statement made on Wednesday by Areim, a Swedish fund manager, 450 million euro ($481million) has been secured to support the creation and design of sustainable data centers. This is part of the efforts to decarbonise this energy-intensive industry. Morgan Stanley stated last year that the growth of data centres will produce approximately 2.5 billion metric tonnes of carbon dioxide equivalent emissions worldwide by 2030. Leif Andersson is the founder and chairman of EcoDataCenter. He added, "We will continue driving the market in how digital infrastructure should built with our customers." Areim, who did not specify which investors...

Carbon Emissions

Renault cautions pooling CO2 emissions might compromise EU cars and truck market, requires clearness

French automaker Renault is devoted to complying With tighter EU guidelines on CO2 emissions this year, it stated believes automakers pooling their emissions could compromise the European cars and truck industry. The EU substantially decreased its cap on automotive carbon dioxide emissions from Jan. 1, meaning at least one-fifth of all sales by the majority of cars and truck companies need to be EVs to prevent heavy fines. Business with lower electrical automobile sales can swimming pool their emissions with section leaders, nevertheless buying emissions credits from other makers to decrease their general averages and save them numerous countless euros...

Carbon Emissions

Nebraska submits antitrust claim against sturdy truck makers over EV push

Nebraska Chief Law Officer Michael Hilgers on Tuesday submitted an antitrust suit against some of the biggest heavyduty truck makers accusing them of restricting the accessibility of dieselpowered semitrucks in a. shift to tidy electric trucks. The lawsuit says the truck makers are participated in an. industry-wide conspiracy to phase out medium and sturdy. internal combustion cars, driven by California's green. policies that intend to ultimately end production of such. semi-trucks. The chief law officer submitted match in state court versus. Daimler; Navistar, a system of Volkswagen's Traton. ; Paccar; Volvo Group North America. ; and the Truck and Engine...

Nuclear Power

Price for new nuclear power in Sweden $38 bln, commission states

Sweden's strategies to rapidly broaden nuclear power are likely to cost around 400 billion crowns ($ 38 billion) and must be funded by mix of government loans and price assurances, a federal government commission suggested on Monday. The commission proposed a program of 4 or five brand-new nuclear reactor with 4,000-6,000 MW of installed capability in order to make the program cost-efficient. The state needs to provide nuclear companies 75% of the cost of building power plants with the owners contributing 25%. The commission said the government ought to guarantee an electricity cost of around 80 ore/Kwh to financiers over...

Electric Utilities

NORDIC POWER-Forward prices slip on greater water reserves forecast, alleviating gas supply fears

Nordic forward power rates slipped on Wednesday on forecasts for increased rainfall over the coming days that may boost water reserves in the hydropower reliant area, while relieving fears over Norway gas export blackout also calmed markets. * The Nordic front-quarter agreement was down by 0.25 euros at 37.8 euros per megawatt-hour (MWh) by 1153 GMT. * The Nordic front-year baseload power contract inched lower by 0.6 euros at 46.5 euros/MWh, marking its most affordable level because May 16. * Increased rainfall over the next ten days will increase the hydrological balance before possible weakening starts next week. However, if...

Nuclear Power

NORDIC POWER-Forward costs set for fifth weekly rise on drier weather condition view

Nordic forward power costs rose on Friday and were on track for their 5th successive weekly gain, supported by a forecast of drier weather in the hydropowerdependent area and higher fuel rates. * The Nordic front-quarter agreement increased by 2 euros or 5.41% to 39 euros per megawatt-hour (MWh) by 10:50 GMT. The agreement is up 0.4% up until now this week. * The Nordic front-year baseload power agreement climbed 0.9 euros or 1.89% to 48.6 euros/MWh and has actually risen about 3% today. * The costs are up today as the forecast reveals temporary wet and windy conditions, with...

Oil & Gas

NORDIC POWER -Front-quarter rates hit 2-week short on damp weather condition view

Nordic frontquarter power rates fell to their lowest level in 2 weeks on Wednesday, weighed down by wetter weather forecasts and increasing water levels in the hydropowerreliant region. * The Nordic front-quarter contract decreased by 0.05 euros or 0.13% to 37 euros per megawatt-hour (MWh) by 11:04 GMT, having touched its least expensive because May 15. * The Nordic front-year baseload power agreement edged up by 0.25 euros or 0.53% to 47 euros/MWh. * The weather forecasts have actually now turned much wetter and windier. We anticipate the downtrend to continue today as we still think about the boosts from...

Carbon Emissions

NORDIC-POWER-Forward prices hit over 3-month high on drier weather report

Nordic forward power rates struck an over threemonth high up on Wednesday on drier weather forecasts in the hydropowerdependent area, while strong European power markets contributed to the positive mood. * The Nordic front-quarter contract was up 1.05 euros to 45.05 euros per megawatt-hour (MWh) since 10:25 GMT, having earlier climbed to 45.25 euros, its highest level considering that Feb. 6. * The Nordic front-year contracts gained 0.3 euro to 48.5 euros/MWh, having actually struck a 4-1/2- month peak of 49 euros previously in the day. * European wholesale spot power costs climbed on Wednesday, prompted by a substantial drop...