Latest news with #CO2emissions
Daily Mail
5 days ago
- Business
- Daily Mail
Nigel Farage says ministers are 'defrauding' taxpayer out of billions to fund green energy - as he says water firms should be part-nationalised (at a cost of £50billion)
Nigel Farage today accused ministers of 'defrauding' the taxpayer by pouring tens of billions of pounds into green energy. The Reform UK leader used a BBC interview to question why money was being used to underwrite wind and solar schemes 'for literally zero effect' on global CO2 emissions. Mr Farage distanced himself from Reform mayor and ex-Tory MP Dame Andrea Jenkyns, who this week said she did not believe climate change existed. But he said that even if humans were affecting the global weather system it did not justify the spending on green energy or axing high-pollution industries like steel making. Last week Reform's Deputy leader Richard Tice wrote to firms giving them 'formal notice' that the party would axe deals aimed at offering sustainable generators protection against market volatility. Speaking today on Sunday with Laura Kuenssberg, Mr Farage said: 'We have got ourselves stuck in this mindset: we believe man has an influence on changing the climate, I didn't deny that, I think that man does – it is impossible to think that seven or eight billion people can't have some effect. 'But whether that is a reason to transfer manufacturing to other parts of the world, whether that is a reason to have the most expensive energy prices for industry in the world and to make the poor poorer in society, for almost o benefit whatsoever, I doubt it.' However he also faced accusations that Reform's plan to part-nationalise UK water firms would cost taxpayers as much as £50bn. He insisted the proposal to put 50 per cent of firms into public ownership would cost 'a lot less' than the amount estimated by Defra and regulator Ofwat, saying they were 'part of the problem'. But despite repeated questions he could not put a figure on how much Reform's plan would cost, saying it 'depends what deal you do with the private sector investors'. He added: 'We don't know what negotiations we're going to have, but it doesn't need to be a big sum of money if you incentivise private capital to come in and do the job properly.' It came after Environment Secretary Steve Reed again ruled out the possibility of nationalising the water industry, saying it would cost too much and take years during which pollution would get worse. He told Sunday With Laura Kuenssberg: '(Full) nationalisation would cost upwards of £100 billion that we'd have to take away from the National Health Service and schools to give to the owners of the companies that are polluted.' He added: 'If we try to unpick the current model of ownership, it would take years, and during that period, pollution would get worse because the companies wouldn't invest knowing that they were going to be nationalised. 'So instead of me sitting here telling the public that we're going to halve sewage pollution over the next five years, I would instead be sitting here saying we're going to play around with ownership and pollution will get far worse.' Mr Tice wrote to energy companies urging them not to invest in the latest round of green energy contracts, known as Allocation Round 7 (AR7). Mr Tice said he had put the companies on 'formal notice' that their investments were 'politically and commercially unsafe' as a future Reform government would seek to 'strike down all contracts signed under AR7'. But he later told the BBC that Reform would not renege on contracts, only oppose any 'variation'. Reform has made opposition to net zero a major part of its platform since the last election. Earlier in the year Mr Tice pledged to 'wage war' on the policy while Greater Lincolnshire mayor Dame Andrea told Times Radio on Thursday she did not believe climate change was real. In a report published last week, the OBR estimated tackling climate change would cost the Government £30 billion a year, largely in lost income from taxes such as fuel duty. But it also warned that failing to act presented a 'more significant fiscal cost' because of damage caused by climate change.
Bloomberg
15-07-2025
- Business
- Bloomberg
Norway's $1.9 Trillion Wealth Fund Calls Out Banks Over Emissions Reports
Norway's $1.9 trillion wealth fund says global banks need to start telling investors how much of their revenue is being omitted from CO2 emissions reports. Norges Bank Investment Management, the world's largest sovereign-wealth fund, wants banks to begin accounting for the full scope of the emissions they enable through services such as loans and the underwriting of bonds.
Yahoo
10-07-2025
- Automotive
- Yahoo
EVs widen life-cycle emissions gap over combustion cars, new study finds
An increase in sustainable energy in Europe is making battery-electric vehicles substantially cleaner over their life cycles compared with combustion-engine cars, according to a new report from the International Council on Clean Transportation. New BEVs will produce 73 percent fewer CO2 emissions than gasoline-powered cars, the ICCT said in a report July 9. That figure is 24 percent better than a 2021 estimate from the group. In addition to taking advantage of renewable energy for charging and production, BEVs have also become more efficient, Marta Negri, a researcher at the ICCT, said. 'Battery electric cars in Europe are getting cleaner faster than we expected and outperform all other technologies, including hybrids and plug-in hybrids,' Negri said in a release. In contrast, combustion-engine-based cars, including full hybrids and plug-in hybrids, have been getting only marginally cleaner in recent years, the group said. Hybrids have life-cycle emissions that are 20 percent lower than gasoline models, while PHEV emissions are 30 percent lower. 'When running on the EU average fuel and electricity mix, only BEVs offer a large-scale reduction in life-cycle GHG emissions,' the report said, referring to greenhouse-gas emissions. Sign up for the Automotive News Europe Focus on Electrification newsletter, a weekly wrap-up of the latest electric vehicle news, including interviews and global EV sales data. The ICCT study considered sales-weighted characteristics of compact cars sold in the EU in 2023 and assumes a life cycle of 20 years. Renewable energy such as solar and wind is expected to make up 56 percent of Europe's mix, an 18-percentage-point gain from 2020, and could be 86 percent by 2045, the ICCT said, citing figures from the European Union. Life-cycle assessment is a way to measure the carbon footprint of a car, from raw materials extraction, component manufacturing, production, energy consumption (including how the energy is produced) and end of life disposal or recycling. Proponents say it is more accurate than current emissions standards, which focus on tailpipe emissions, while critics say life-cycle data can be selectively manipulated. Earlier life-cycle assessment studies 'have repeatedly demonstrated that battery-electric vehicles eliminate tailpipe GHG emissions and represent the most promising pathway for rapidly reducing life-cycle emissions,' the ICCT said, while acknowledging that 'given varying scopes and inconsistent methodological choices, individual LCA studies can yield widely differing and sometimes contradictory results.' Critics of EVs, for example, say that emissions from battery production are often so high that they cannot be offset by zero tailpipe emissions. The ICCT, in its report, acknowledged this claim but said that this 'emission debt' can be offset after 17,000 km of driving. The European Commission and the United Nations Economic Commission for Europe (UNECE) are currently working on harmonizing life-cycle assessment measurements. Automakers will be able to voluntarily report their cars' life-cycle emissions starting next year using the commission's methodology. A gasoline car has life-cycle emissions of 235 grams of CO2 per km based on the average European power grid (assuming current mix of renewable and nonrenewable energy), while an EV's emissions are 63 g/km, the ICCT said (see chart, above). Plug-in hybrid emissions are 163 g/km, while full hybrids are 188 g/km. The report argues that electric cars' life-cycle emissions are often overstated because they are based on a static electricity grid mix, rather than assuming that the percentage of renewable energy will continue to increase. In addition, a shorter life-cycle assumption (less than 20 years) also tends to disadvantage EVs, as does a discrepancy between as-tested and real-world usage — for example, in-car monitoring has found that PHEV emissions are up to 3.5 times higher than tested, because owners do not regularly charge the batteries. If these factors are not considered, the ICCT said, life-cycle emissions of BEVs can be up to 64 percent higher. 'Under such conditions, BEVs appear to have emissions levels comparable to PHEVs,' the report said. Other findings of the study: Production and recycling emissions were roughly equivalent across fuel types, ranging from 6.5 metric tons for BEVs to 7.9 tons for PHEVs (because of their complexity). Battery production had emissions of 3.9 tons of CO2 for BEVs and 1.0 ton for PHEVs. Maintenance: BEVs had emissions of 4 g/km (largely because they need fewer consumable items such as spark plugs or belts), while diesel maintenance was 7 g/km (due in part to the need for urea in exhaust treatment) and gasoline cars had maintenance emissions of 6 g/km. Fuel-cell EVs have the potential to reduce life-cycle greenhouse gas emissions by 79 percent, but only if they use hydrogen that is processed using renewable electricity.
Yahoo
06-07-2025
- Science
- Yahoo
How seawater and limestone could be used to reduce maritime emissions
With Canada and other countries looking to increase the sales of electric vehicles (EV) as a mean to help reduce greenhouse gas emissions, what is the world doing to combat the carbon dioxide (CO2) levels emitted by marine-based transportation? Well, researchers at the Caltech and Southern California (USC) universities, working alongside a startup firm, may have found a doable solution. SEE ALSO: The answer is a shipboard system using limestone and seawater that can reportedly convert the CO2 emissions generated by shipping vessels into an ocean-safe solution. The process could cut maritime CO2 emissions by as much as 50 per cent, according to a USC news release. The concept is part of a study published in Science Advances. (Getty Images/boryak/120046804-170667a) 'What's beautiful about this is how simple it is,' said William Berelson, a USC professor and co-corresponding author in the study, in the news release. 'We're speeding up a process the ocean already uses to buffer CO2––but doing it on a ship, and in a way that can meaningfully reduce emissions at scale.' According to the authors of the study, the process imitates a natural chemical reaction in the ocean. As the ships traverse through seawater, CO2 released from the exhaust is digested into water that is pumped on board, making it "slightly more acidic." Following that, the water proceeds to move through a patch of limestone, where the acid reacts with the rock to form bicarbonate, which is naturally found in seawater as a safe and stable compound. The now-treated water, free of CO2, is then released back into the ocean. (Getty Images/Ultramansk/2222108057-170667a) 'What's most exciting to me is that this started as a pure science question: 'How does the ocean buffer CO2?'' said Berelson. 'From there, we realized we might have a real-world solution that could help fight climate change.' The study noted that maritime shipping produces almost three per cent of global greenhouse gas emissions. Any current solutions to address the ocean emissions, such as low-carbon fuels and electrification, are still too expensive or not feasible for treks that are of long-distances, according to USC. The research on the shipboard system is being conducted with Calcarea––a startup company working on getting the technology to market. Right now, Calcarea is in early talks with commercial shippers and reviewing pilot programs that would test the technology on operable vessels. While doing work on the shipboard in the lab, those involved in the study experimented on vital elements of the process, utilizing controlled amounts of seawater, limestone and CO2. Their tests were matched closely with theoretical projections, boosting the researchers' confidence in being able to "scale up their modelling" to the size needed to work on real vessels, the Southern California university said. (Getty Images/FangXiaNuo/1155475425-170667a) 'We see our approach as a complementary strategy that could help ships reduce their environmental impact without major design overhauls,' said Jess Adkins, co-founder and CEO of Calcarea and a professor at Caltech, in the USC news release. As well, the examination also used advanced ocean modelling to analyze any potential impacts after the bicarbonate-rich water is put back into the ocean. A hypothetical ship taking multiple trips between China and Los Angeles over a 10-year period was monitored in simulations, with data keeping tabs the vessel discharging treated water along the route. The models showed an inconsequential impact on ocean pH and chemistry, USC said, demonstrating an "important validation" for the technology's environmental safety. Meanwhile, research on the initiative continues from Calcarea, with inquiries into reaction rates and long-term impacts on ocean chemistry. Click here to view the video With files from the University of Southern California. Thumbnail courtesy of Getty Images/HeliRy/183238611-170667a. Follow Nathan Howes on X and Bluesky.
Daily Mail
03-07-2025
- Automotive
- Daily Mail
Another car maker threatens factory closures as pressure to increase EV sales weighs heavy
Another major car manufacturer has said it may be forced to close factories as the motor industry faces headwinds linked to mounting pressure to transition to electric vehicles. Stellantis - the parent company of massive brands including Citroen, Fiat, Peugeot and Vauxhall to name just a few - said it may be forced to shutter vehicle plants due to the risk of hefty European Union fines levied for not complying with CO2 emission targets. European head of the Franco-Italian auto maker Jean-Philippe Imparato says EU-based car manufacturers will must sell more EVs to cut CO2 emissions or risk penalties as part of the bloc's efforts to hit air pollution targets. It comes just months after the European motor sector successfully lobbied for more time to comply with rules, with fines to be based on 2025-2027 emissions rather than just in 2025. However, Imparato says even these more relaxed targets are 'unreachable' for car makers and will expose his company to fines of up to €2.5billion (£2.15bn) within 'two-to-three years'. Stellantis earlier this year closed Vauxhall's 100-year-old Luton van factory, putting 1,100 jobs at risk. When it announced the move in November, it partly attributed the decision to the UK Government's stringent EV sales targets. European head of the Franco-Italian auto maker Jean-Philippe Imparato (former CEO of Alfa Romeo) says EU-based car manufacturers must sell more EVs to cut CO2 emissions or risk penalties as part of the bloc's efforts to meet air pollution targets Speaking at a conference in the lower house of parliament in Rome on Tuesday, the former Alfa Romeo CEO (which is also owned by Stellantis) said that without significant changes in the regulatory situation by the end of this year, the company would 'have to make tough decisions'. To achieve the targets set out by the EU, Stellantis either needs to double its electric vehicle sales - which Imparto said would be impossible - or cut the production of petrol and diesel cars to artificially increase its share of EV deliveries. The latter would see internal combustion engine (ICE) cars rationed for customers at a time when many are not ready to commit to EVs and could hammer the manufacturer's sales volumes. 'I have two solutions: either I push like hell [on electric]... or I close down ICE. And therefore I close down factories,' he said. The latest in a wave of cutbacks linked to EV slowdown During this statement Imparto mentioning the Italian van-making plant of Atessa, where it produces the Fiat Ducato, Citroen Jumper, Peugeot Boxer, and Opel/Vauxhall Movano. It has been building electric versions of these models since November 2024. His comments come just three months after the last van has rolled off the assembly line at Vauxhall's historic Luton factory following Stellantis' decision to cull the century-old site. Marking 'the end of an era', the last Vivaro van came off the Bedfordshire production line on Friday 28 March, lowering the curtain on 120 years of vehicle-making at the Bedfordshire factory. Its closure had been announced four months prior in November 2024, with the company confirming that 1,100 jobs would be at risk - though workers would be offered positions at its EV-making plant over 100 miles away in the northwest of England. At the time, Stellantis bosses said that the decision was made 'within the context of the UK's Zero Emission Vehicle (ZEV) mandate'. It has seen the manufacturer consolidate its UK van production at its recently converted Ellesmere Port plant, which for years produced Astra family cars before being upgraded to the UK's first major EV van-making facility. Stellantis had warned earlier in 2024 that plants were at risk because of government pressure on car firms to meet ZEV targets that incrementally rise each year. Last year, mainstream manufacturers were required to have an electric car sales mix of 22 per cent (10 per cent for vans). This year, the threshold increased to 28 per cent (16 per cent for vans) and in 2026 it is a third of all passenger car deliveries (24 per cent vans). By 2030, four in five new cars will need to be electric, with the remaining 20 per cent being hybrid models. As for vans, some petrol and diesel versions will be allowed to be sold until 2035 under more relaxed adjustments to targets implemented by Sir Keir Starmer in April in response to US President Donald Trump's announcement of increase tariffs that sent shockwaves across industries. The PM also slashed fines for failing to meet the yearly-rising ZEV mandate targets by 20 per cent from £15,000 to £12,000 for cars, and by 18 per cent (from £18,000 to £15,000) for vans. The 350,000 Brussels facility has been manufacturing the Q8 e-Tron and the Q8 e-Tron Sportback since 2022. It had been billed the 'cradle' of the German car maker's electric drive Reports in recent months have linked manufacturer factory closures and job losses to pressures linked to the EV transition. In March, it emerged that Skoda was considering laying off 6,000 people as part of drastic cuts to keep up with an expensive electric car rollout. Audi in December announced it would shutter its EV factory in Belgium, which resulted in 3,000 jobs cut. The factory in Brussels had been billed the 'cradle' of the German car maker's electric drive. Volkswagen also said last year it could be forced to shut three vehicle plants in Germany due to the EV slowdown. However, it has since reached a deal with European union workers that averts immediate factory closures and involuntary redundancies. Part of these negotiations involve significant job cuts and a reduction in production capacity across their German plants by 2030.
