Coal power plant construction will push ahead in Asia despite falling electricity demand and environmental concerns as policymakers prioritise boosting economies crippled by the coronavirus pandemic, analysts say. There are already signs that China and other Asian giants like South Korea and Japan will steer recovery funds into struggling coal-focused state financers, equipment suppliers and construction firms. That could create a short-term jolt at the cost of efficiency and environmental damage, analysts say.
Reuters 12th May 2020 read more »
BP’s much-vaunted “net zero” targets fall far short of what is required for the company to achieve net zero emissions, analysis for leading ethical investors has found. The oil major’s critics accused it of a “greenwash” after a report backed by the Church of England found that BP’s climate goals only applied to 41 per cent of the energy that it sells. BP’s chief executive, Bernard Looney, announced in February an ambition to “become a net zero company by 2050 or sooner”. BP argues that its strategy is consistent with the Paris climate accord, which aims to limit global warming to “well below 2C” above pre-industrial levels.
Times 12th May 2020 read more »
BBC 12th May 2020 read more »