Climate
ECB stress test shows most banks don’t include climate risk in their credit models
Environmental protesters take to the streets during a demonstration by Fridays for Future in the financial district of Frankfurt, Germany, in August last year. Bloomberg | Bloomberg | Getty Images The results of the European Central Bank’s first climate risk stress test show that most banks do not sufficiently incorporate climate risk into their stress-testing […]
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Volkswagen CEO says EV outlook is ‘very good,’ expects to reduce delivery times this year
An ID. Buzz stands during a plant tour of the production of the ID. Buzz in quality control at the Volkswagen Commercial Vehicles plant in Hanover, Germany, June 16, 2022. Ole Spata | Picture Alliance | Getty Images The CEO of German automotive giant Volkswagen sought to assuage concerns about electric vehicle sales and semiconductor […]
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Shell to build Europe’s ‘largest’ renewable hydrogen plant to help power Dutch refinery
On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking to lay down a marker in the sector. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands will […]
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Sydney residents assess flood damage as wild weather eases
Residents next to the overflowing Hawkesbury River in the northwestern Sydney suburb of Windsor on July 6, 2022. Heavy rain that pummeled Sydney over the last five days eased on Thursday as flood-weary residents looked to return to homes to take stock of the damage, some for the third time this year. Muhammad Farooq | […]
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Europe will count natural gas and nuclear as green energy in some circumstances
01 July 2022, Saxony, Lippendorf: A solar park borders directly on the site of the Lippendorf lignite-fired power plant. After more than 20 years, the so-called EEG surcharge, which customers pay via their electricity bill, will no longer apply. It currently still amounts to 3.72 cents per kilowatt hour. Experts do not expect electricity prices […]
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Toyota hits sales milestone for electric vehicles, joins Tesla and GM in losing tax incentives for buyers
A Toyota bZ4X on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC Toyota Motor said it sold its 200,000th plug-in electric vehicle during the second quarter, triggering a phase out of U.S. tax credits of up to $7,500 for people who buy the cars. The Japanese automaker joins Tesla […]
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Rivian confirms it’s on track to build 25,000 electric vehicles this year
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company’s plant in Normal, Ill. Michael Wayland / CNBC Electric vehicle startup Rivian Automotive said it produced more than 4,000 vehicles in the second quarter and that it remains on track to build 25,000 vehicles in 2022. Shares or Rivian were up […]
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VW and Goldman-backed battery maker Northvolt gets $1.1 billion funding injection
Northvolt’s most recent funding announcement comes at a time when major economies are laying out plans to move away from vehicles that use diesel and gasoline. Mikael Sjoberg | Bloomberg | Getty Images Electric vehicle battery maker Northvolt on Tuesday announced a $1.1 billion funding boost, with a range of investors — including Volkswagen and […]
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California federal judge throws out Trump-era changes that weakened Endangered Species Act
A Mexican gray wolf leaves cover at the Sevilleta National Wildlife Refuge, Socorro County, N.M. Jim Clark | U.S. Fish and Wildlife Service via AP A California federal judge on Tuesday threw out Trump-era changes to the landmark Endangered Species Act, voiding regulations that made it harder to protect wildlife from the effects of human development […]
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Italy just declared a state of emergency because of drought: ‘There is no doubt that climate change is having an effect,’ the prime minister said
This picture taken on July 2, 2022 in Rome shows the low water level of the river Tiber near the Vittorio Emanuele II bridge, revealing an ancient bridge built under Roman Emperor Nero (Bottom). Andreas Solaro | AFP | Getty Images The Italian government declared a state of emergency on Monday in five regions because […]
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