Latest news with #cleanenergy
Yahoo
2 hours ago
- Business
- Yahoo
Citigroup's head of energy transition decamps for Moelis role, sources say
By Isla Binnie and Svea Herbst-Bayliss NEW YORK (Reuters) -Citigroup's global head of clean energy transition investment banking is leaving the U.S. lender for a role advising on mergers and acquisitions at boutique bank Moelis, people familiar with the matter said on Friday. Serge Tismen is expected to formally join Moelis in September, following a period known as gardening leave. He will advise the bank's clients on dealmaking broadly and will report to Anton Sahazizian, Moelis' head of mergers and acquisitions, one of the sources added. Reuters was unable to contact Tismen for comment. Spokespeople for Citi and Moelis declined to comment. Tismen has worked within Citi's investment bank for more than two decades, according to his LinkedIn account. In 2021, he stepped in to lead a new unit to capture more business from companies working on reducing carbon emissions through developing hydrogen fuel, vehicle charging infrastructure, carbon capture and sequestration and biofuels. Clean energy has recently come under pressure from U.S. President Donald Trump. His administration has sought to roll back environmental regulations and measures put in place by former President Joe Biden, to encourage renewable energy. Trump has moved to cancel tax credits supporting renewable power generation, and ordered the Department of the Interior to review whether any regulations favor wind and solar over other energy sources. While broader dealmaking was also subdued in the first half of 2025, as companies and financial markets navigated volatility triggered by Trump's trade war, sentiment is buoyant for the rest of the year, with forecasts for significant deal flow and a host of mega-mergers. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 hours ago
- Business
- Reuters
Citigroup's head of energy transition decamps for Moelis role, sources say
NEW YORK, July 25 (Reuters) - Citigroup's (C.N), opens new tab global head of clean energy transition investment banking is leaving the U.S. lender for a role advising on mergers and acquisitions at boutique bank Moelis (MC.N), opens new tab, people familiar with the matter said on Friday. Serge Tismen is expected to formally join Moelis in September, following a period known as gardening leave. He will advise the bank's clients on dealmaking broadly and will report to Anton Sahazizian, Moelis' head of mergers and acquisitions, one of the sources added. Reuters was unable to contact Tismen for comment. Spokespeople for Citi and Moelis declined to comment. Tismen has worked within Citi's investment bank for more than two decades, according to his LinkedIn account. In 2021, he stepped in to lead a new unit to capture more business from companies working on reducing carbon emissions through developing hydrogen fuel, vehicle charging infrastructure, carbon capture and sequestration and biofuels. Clean energy has recently come under pressure from U.S. President Donald Trump. His administration has sought to roll back environmental regulations and measures put in place by former President Joe Biden, to encourage renewable energy. Trump has moved to cancel tax credits supporting renewable power generation, and ordered the Department of the Interior to review whether any regulations favor wind and solar over other energy sources. While broader dealmaking was also subdued in the first half of 2025, as companies and financial markets navigated volatility triggered by Trump's trade war, sentiment is buoyant for the rest of the year, with forecasts for significant deal flow and a host of mega-mergers.
Arab News
5 hours ago
- Politics
- Arab News
Climate change needs smart solutions, not political point-scoring
More than seven months into President Donald Trump's second term, the US is experiencing a sharp federal reversal on climate policy: withdrawal from the Paris Agreement, rollback of clean energy initiatives, and a halt to key climate finance programs. The reaction of Western 'scholars and watchdogs' to the moves was summed up recently by a columnist in the UK's Guardian newspaper who put this way: 'It's an agenda that in only its first six months, has put back environmental progress by decades.' But there is another way to look at the US climate-policy reversal: as a golden opportunity to transform climate change from a First World wedge issue into a universal challenge in which both the global North and South have equal stakes. And to seize it, countries, cities, businesses and ordinary people must adopt an organic, 'whole of society' approach in the form of carbon literacy, lifestyle shifts, technological innovation and international cooperation. It is easy to forget that climate change is neither a political theater nor a liberal luxury, but a human issue. Record heat this summer has once again scorched the Arab world, Europe and Asia, while devastating floods and wildfires have dominated news headlines. The consequences of more frequent hot days, fewer cold days and increased evaporation transcend national boundaries and public concern has reached historic highs across the spectrum. Extreme heat is the biggest climate-change danger facing large swathes of the world. Mild summers in Europe are being replaced by heat waves that are becoming more frequent. Adapting to it is expected to require huge investments and a major shift in attitude toward air conditioning. Instead of dismissing it as a luxury that only Americans and Arab Gulf states can afford, even Europeans are now viewing air conditioning as a necessity to prevent thousands of unnecessary deaths every year. Nevertheless, climate continues to be a politically charged issue. Some see it as the be-all and end-all of human existence; others regard it as a symbol of out-of-touch American and European elitism. As the Trump administration dismantles industrial policies that many Americans consider economically damaging, the op-ed pages of US and European newspapers are unsurprisingly full of doom and gloom these days. It is high time to refuse to frame climate change as a culture war between left and right or between Global North and South Arnab Neil Sengupta It is true that the Trump administration is seeking to cancel tax credits for electric vehicles and relax emissions standards. It has reversed federal clean energy incentives, blocked new authorizations for renewables on public lands, and ended major resilience and adaptation grants. But the objective is not to flout the Paris Agreement and fill the atmosphere with heat-trapping carbon dioxide. In keeping with his 'America First' ideology, Trump is trying to level the playing field for domestic coal, oil and natural gas producers, who were at a severe disadvantage because of federal government support for wind farms, solar panels, hydrogen production and other clean energy technologies under previous Democratic administrations. Moreover, accelerating the low-carbon transition is not without risks. As Wall Street Journal columnist Andy Kessler pointed out last week, 'Spain (56% renewables) has so much wind and solar power that fluctuations caused a massive blackout in April, taking parts of Portugal down with it. Central planning kills. The US uses 21% renewables.' Not just that, at the grass roots, state and local governments, American businesses and communities are showing what is possible without the heavy hand of politically motivated federal agencies. They are focused on solutions such as energy efficiency, municipal resilience, fast-tracked permits for renewables, and job creation. State and corporate policies are picking up the slack, keeping the EV market and retrofits alive. Across the US, private developers and cities have been switching to solar panels, heat pumps, insulation and mass transit because of rebates and practical incentives. The US may have stepped back to take stock and make sure that the mantra of decarbonization does not turn the country into an economic laggard, but the global energy transition, powered by economic incentives and private-sector leadership, seems to be moving on, anchored increasingly in pragmatism, economics and common sense. While Trump has moved to suspend US climate finance, COP28's global consensus is pushing forward with financing for vulnerable countries and adaptation funds. At COP28 in Dubai in 2023, world leaders operationalized the Loss and Damage Fund and called for tripled climate finance. China is aggressively expanding its solar and EV industries. The EU is pushing forward with ambitious green finance, and both Africa and Southeast Asia welcome clean energy investment. Likewise, business and innovation are receiving prominence. As seen at COP28, even major oil and gas producers can take the lead on the next phase of clean energy. Saudi Arabia and the UAE's strategy of investing in carbon capture, solar, green hydrogen and electric mobility is not a contradiction but realism. Elsewhere, oil companies are diversifying into hydrogen, sustainable aviation fuel and grid resilience when policies point the way. With the right signals from states and the market, private investment is growing rapidly and following global demand. Public engagement matters more than ever. Recent polling shows widespread concern, even among Republicans, about climate impacts as extreme heat, crop losses and wildfires intensify. What the last seven months have shown is that Americans are pragmatic: they want sound environmental and energy policies, not rhetoric. They are interested in practical outcomes, not ideology. That said, without the right politics, progress will stall. The world needs the support of ordinary people who stand to gain or lose the most from climate-change mitigation. This will happen through local jobs, tax relief, cleaner air and healthier citizens. 'Green transition' will not sell in the developing world if it looks like an American or a Franco-German vanity project. It has to deliver flood-proofing in Africa, rural broadband powered by solar in South Asia, and training for wind-turbine assembly in North Africa. The international community must focus on building trust through collaboration, biodiversity management and shared climate research while the US federal government steps back to restore some balance. Climate mitigation and adaptation is a project that needs Africa's ingenuity, Latin America's biodiversity, India's workforce and Gulf Arab entrepreneurship, plus moving away from a mindset fixated on reducing energy use. Time is of the essence. Every year of unchecked warming raises the cost in the form of public health crises, agricultural losses and mass migration. The effects are already visible in small communities. Be it in New Orleans or Kenya, no one wakes up hoping for dinner by lantern light or rolling brownouts. People want reliability in the form of affordable energy supplies and cleaner air. Summing up, global climate action is not about virtue signaling or panic mongering but common sense and patience. Slowly but steadily, the world must pivot to fuel efficiency, clean power, resilience, job training and global cooperation from the ground up. It is high time to refuse to frame climate change as a culture war between left and right or between global North and South.
Sustainability Times
6 hours ago
- Science
- Sustainability Times
'They'd Rather We Stay Dependent': Leaked Docs Reveal Elites Blocking 200-Million-Ton Power Vault That Could End Energy Poverty Forever
IN A NUTSHELL 🌍 Natural hydrogen found in an Albanian mine could redefine sustainable energy sources. found in an Albanian mine could redefine sustainable energy sources. 🔬 This discovery suggests a shift from skyward energy solutions like solar and wind to underground resources. ⚠️ The presence of unique ecosystems in these hydrogen-rich zones requires cautious exploration. 🔋 Combining this find with Europe's green hydrogen efforts could revolutionize clean energy production. In the ongoing quest for sustainable energy, much focus has been directed towards the sky, with solar panels and wind turbines becoming emblematic of green innovation. Yet, a groundbreaking discovery suggests that the future of clean energy might not be above us but beneath our very feet. An international team of scientists has uncovered a significant natural hydrogen reservoir in a deep chromite mine in Albania. This finding has the potential to redefine how we perceive energy resources and could be a pivotal moment in the ongoing energy revolution. We've Been Looking Up for Answers but Maybe the Future Was Beneath Us All Along For decades, the pursuit of sustainable energy has been synonymous with harnessing power from the sky. Solar panels have transformed rooftops into mini power stations, and wind turbines have reshaped landscapes with their majestic blades. The race to capture renewable energy has largely been an aerial endeavor, driven by the promise of endless resources from the sun and wind. However, the recent discovery of a natural hydrogen reservoir challenges this upward gaze. Deep within a chromite mine in Albania, scientists have stumbled upon a spring that does not release water but hydrogen. This almost pure hydrogen flow, estimated at over 220 tons per year, represents the largest natural release of the gas ever recorded. This revelation is not just a geological curiosity but a potential paradigm shift in energy sourcing, suggesting that what could power our future has been lying underground all along. 'Nuclear Fusion Just Got Real': Scientists Unveil Breakthrough That Could Deliver Endless Clean Energy and Erase Fossil Fuel Dependency The Hidden Jacuzzi, the Gas Leak, and the Quiet Energy Revolution This discovery marks an energy milestone, providing concrete evidence of naturally occurring hydrogen reservoirs. Unlike traditional methods of hydrogen production, which are costly and carbon-intensive, these underground reserves offer a ready-made, high concentration source of hydrogen. Drilling at the Bulqizë mine revealed that specific geological fault zones release this gas, hinting at a natural system that has been operating for millennia. Hydrogen has long been heralded as the 'fuel of the future.' Yet, its production has been hampered by the need for energy-intensive processes like electrolysis or methane combustion. The Albanian find changes this narrative, offering a glimpse into a natural, clean hydrogen source that bypasses these carbon-emitting processes. This revelation could spark a quiet energy revolution, providing a sustainable alternative that has been hiding in plain sight. 'This Device Slashes Bills Instantly': Tech Giant Reveals Breakthrough Energy System That Could Cut Costs for 40 Million U.S. Homes But Before the Hype — A Fragile Biosphere, and a Geological Clock Ticking Slowly While the discovery is exciting, it is crucial to temper this enthusiasm with caution. Geological hydrogen is not a renewable resource in the short term; it forms over millions of years, yet can be rapidly depleted. Additionally, these deep fault zones are home to unique ecosystems that rely on hydrogen as an energy source, existing in total darkness. Unregulated exploitation of these systems could lead to the destruction of these fragile biospheres. Moreover, the 220 tons of hydrogen extracted annually is minuscule compared to the 100 million tons produced globally. However, the significance lies in the geological model that this discovery represents. Scientists have, for the first time, managed to map and simulate the formation of an underground hydrogen reservoir. This breakthrough forces a reconsideration of Earth's hidden depths as a source of natural, clean energy. Fusion Future Ignited: New Ultra-Precise Laser Technology Could Finally Make Net-Energy Devices a Scalable Global Reality Charting a New Course for Energy Exploration The discovery of natural hydrogen reservoirs offers a new narrative for energy exploration. It suggests that Earth's depths may hold answers to our energy needs, providing a clean and accessible alternative to traditional fossil fuels. However, this potential must be balanced with responsible exploration. The lessons learned from oil extraction remind us of the importance of environmental assessments and scientific ethics. This finding coincides with Europe's underwater energy revolution, where 49,600 tons of green hydrogen are produced annually. Combining these innovations could pave the way for a sustainable future. Yet, it remains imperative to approach this new frontier with caution, ensuring that the pursuit of hydrogen does not repeat the environmental mistakes of the past. As we stand on the brink of a potential energy revolution, the question remains: How can we responsibly harness this newfound underground treasure while preserving the delicate ecosystems that exist within these geological wonders? The answer could redefine our approach to energy for generations to come. This article is based on verified sources and supported by editorial technologies. Did you like it? 4.4/5 (27)
Bloomberg
6 hours ago
- Business
- Bloomberg
Heat Pump Sales Top Gas Boilers in Germany for the First Time
Sales of heat pumps in Germany surpassed gas boilers for the first time as a ban on dirty heating systems forces a shift to cleaner energy. About 139,000 heat pumps were sold in the first half of 2025, compared with 132,500 gas boilers, according to trade federation data.
