Tag: Business

Why is Texas suffering power blackouts during the winter freeze?

The oil- and gas-rich state is experiencing what officials call a ‘total failure’ of its electricity infrastructure Millions of people in Texas have spent days in below-freezing temperatures without power in what officials have called a “total failure” of the state’s electricity infrastructure. How did oil- and gas-rich Texas – the biggest producer of energy […]

First UK homes with hydrogen boilers and hobs to be built by April

Government says two properties in Gateshead will offer public a glimpse of the ‘potential home of the future’ The UK’s first homes to be fitted with boilers and hobs that run on hydrogen rather than fossil fuel gas will be built in Gateshead by April. The semi-detached houses in the north-east will use 100% hydrogen […]

Central banks aren’t what they used to be – and the better for it

Banks now tackle diverse issues, be it Covid-19, climate change or inequality. Purists may disagree but there’s no other option We are used to thinking about the remit of central banks as focusing narrowly on price stability, or at most as targeting inflation while ensuring the smooth operation of the payment system. But with the […]

BA plans transatlantic flights partially fuelled by recycled waste in 2022

British Airways to invest in new US plant producing sustainable aviation fuel British Airways says it will operate transatlantic flights partially powered by sustainable fuels as early as next year. BA will invest in a new US plant to be built in Georgia by LanzaJet producing commercial-scale volumes of sustainable aviation fuel (SAF), made from […]

Britons set for a post-Covid spending binge, says Bank chief

Bank of England governor Andrew Bailey says economy should make a strong recovery from the pandemic The Bank of England is braced for the possibility that a mood of national depression that engulfed Britain as it plunged into a third national lockdown will end with a spending spree when restrictions are lifted. In an interview […]

Business Council of Australia backs Zali Steggall’s climate change bill for 2050 net zero target

Group hails ‘science-based, risk-management’ approach as world heads towards net zero emissions A business group representing mining, retail, manufacturing, banking and energy bosses has formally backed climate change legislation proposed by the independent MP Zali Steggall, saying Australia needs to set a net zero emissions target for 2050 and lay out a path to get […]

Helping poorest tackle climate crisis will boost global growth, says IMF head

Kristalina Georgieva says investing to create resilient economies is a ‘win-win-win-win’ scenario Helping the most vulnerable people to cope with the climate crisis can boost the global economy during the Covid crisis and governments should make this a priority, the head of the International Monetary Fund has said. Kristalina Georgieva said international responses to the […]

Legal bid to stop UK building Europe’s biggest gas power plant fails

Plan has been approved despite environmental objections and criticism over climate leadership A legal challenge to the UK government’s approval of a new gas-fired power plant has failed in the court of appeal. The challenge was brought after ministers overruled climate change objections from the planning authority. The plant is being developed by Drax in […]

Norway’s electric car drive belies national reliance on fossil fuels

Two-thirds of sales at end of 2020 were battery electric vehicles despite dependence on oil and gas drilling Norway became the first country to sell more electric cars than petrol, hybrid and diesel engines put together last year, new data shows, with battery electric vehicles (BEVs) accounting for two-thirds of sales in the final months […]

Who should pick up the tab for the costs of climate change in north Queensland? | Richard Denniss

As climate risks continue to rise, the government is considering the idea of subsidising north Queensland homeowners Is it fair that young men pay more for car insurance than older women, or that we make young healthy people buy private health insurance to keep the price of health insurance low for older customers? How about […]