With some 55% of the world’s GDP either moderately or heavily dependent on nature, according to PwC, opens new tab, much more finance needs to flow away from activities that harm nature towards activities that support it. Indeed, the U.N. Environment Programme estimates , opens new tabthat annual investments in nature-based solutions (NbS) need to increase from $200...
Total damage from the devastating wildfires scorching Southern California could amount to between $52 billion and $57 billion in economic losses, according to a new analysis. The estimate, issued by AccuWeather’s Global Weather Center, accounts for both direct and indirect impacts of the storm and includes both insured and uninsured losses. Some such costs relate...
Constellation Energy agreed to buy Calpine for $16.4 billion, combining two of the country’s largest electricity generators at a time when their product is in high demand from tech companies. Including the assumption of debt, Constellation on Friday valued the cash-and-stock deal for the privately held Calpine at $26.6 billion. The value of power generators has...
California has mandated an end to internal combustion engines, but consumers aren’t going along with this central plan. The brilliance of the market economy is that the customer actually is the king, which has become obvious when it comes to electric vehicles. Like any product, EVs offer benefits and disadvantages that consumers can sort through on...
New England residents already pay some of the highest electricity rates in the country, as most regional state governments have respectively committed to reducing their carbon emissions by at least 80% by 2050. If this plan is not revised, residents and businesses can expect electricity rates to double, along with suffering from rolling blackouts, according...
While the U.S. Energy Information Administration has projected that “new storage capacity additions [eclipsed] wind, nuclear, and all fossil capacity combined” in 2024, lithium-ion batteries comprise more than 95% of U.S. storage deployments, underscoring the need for a wider range of technology options to improve supply chain resilience, DOE said in the road map. The recent oversupply...
In 2005, Walmart launched the Acres for America program, committing to fund an acre of wildlife conservation for every acre the company developed for commercial purposes.
Demand for U.S. natural gas to produce liquefied natural gas (LNG) for export this year is headed for its first decline since the country started exporting the super-chilled fuel from the lower 48 states eight years ago. The U.S. is the world’s largest exporter of the superchilled gas and a key provider of gas to Europe in...
In 2017, I met the CEO of a major German manufacturing company. The CEO was envious of the U.S. and its position as an energy powerhouse. Our development of oil and gas had made energy so abundant and affordable that he was exploring opportunities to open new manufacturing facilities in the U.S. On the Senate...
National Grid plans to ramp up investment in its electricity-transmission business as the world accelerates the transition from fossil fuels to clean power. This follows a trend of energy utilities across Europe that are increasing investments to update old grids as they bet on a boom in power demand amid rising electrification, industrial decarbonization, and artificial-intelligence...
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