Latest news with #decarbonization
Yahoo
an hour ago
- Business
- Yahoo
Weichai Power Launches Singapore's First 100% Biodiesel Research Harbour Ship
SINGAPORE, July 15, 2025 /PRNewswire/ -- The President 100, a 16-metre harbour ship powered entirely by 100% biodiesel (B100), was officially launched in Singapore. The vessel is equipped with two Weichai WP13C450-18BF marine engines and two CCFJ20J-W5BF generator sets, providing the core propulsion system for this milestone project. Jointly developed by Weichai, the China Classification Society (Singapore), Nanyang Technological University's Marine Energy and Sustainable Development Centre (MESD), and Pinnacle Marine, the launch marks the start of full-scale operational testing for B100 marine fuel in real-world conditions. Built by local shipyard Pinnacle Marine, President 100 will undergo a 1,000-hour continuous trial in Singapore's port waters. The trial aims to assess B100's long-term performance, emissions, and reliability — providing critical data for the development of future refueling, storage, and operational standards. As one of the key clean-energy solutions in maritime decarbonization, B100 biodiesel offers an immediate pathway toward net-zero operations. Weichai's high-efficiency marine power systems optimized for B100 not only reduce emissions, but also set a benchmark for the global shipping industry's green transformation. This project is expected to serve as a reference model for Singapore's maritime energy transition and contribute to establishing industry-wide standards for biodiesel-powered vessels. View original content to download multimedia: SOURCE Weichai Power Co.,Ltd Sign in to access your portfolio
Fast Company
7 hours ago
- Business
- Fast Company
A focus on sustainability's return on investment
For the past year, I've had the opportunity to apply my experience in sector diversified financial services, sustainability, and operational leadership at RE Tech Advisors. I oversee a suite of solutions and services allowing real estate portfolio managers/owners a pathway to integrate and communicate their sustainability efforts. What I've seen in this sector aligns with many other sectors I've worked with. ROI is the predominant motivation for action—short-term ROI via operational cost efficiencies and revenue attraction, and long-term ROI setting up operational resilience in a changing environment. The ROI focus applies to both traditional initiative and sustainability initiative decisions. The line begins to blur when key sustainability initiatives are considered as key operational efforts, the same way as traditional ROI. This is how RE Tech Advisors helps real estate owners find key ROI initiatives with strategic action plans to manage risks and optimize performance. Reduce greenhouse gas emissions (GHGs) Whether you are creating an action plan to reduce your GHG footprint to comply with building performance standards policies, or you're developing a proactive decarbonization action plan to reduce a building's carbon footprint, these can significantly reduce costs: Reduce energy consumption costs: Implementing high efficiency HVAC, better insulation, and smart system integrations such as smart lighting, can reduce energy cost estimates by 30% to 50% in new and existing buildings. Identify operational inefficiencies: Through real-time data analysis and continuous performance monitoring, building managers can adjust or replace systems to improve efficiency based on actual usage energy and water usage patterns. Reduce maintenance costs: Increase energy efficiency and conduct proactive maintenance to realize cost savings through reduced emergency repairs and extending building components' lifespans. Avoid noncompliance fines: Fine amounts varies by jurisdiction, but penalties for policy noncompliance can be a significant expense, based on location and building size. Tax incentives and green financing: Decarbonization roadmaps can unlock millions in funding from programs such as NYSERDA and Fannie Mae and Freddie Mac's Green Financing program. Physical risk management Physical risk management plans help mitigate potential physical building damage from sporadic weather events such as floods, hurricanes, and tsunamis, plus increasing temperature severity and climate pattern changes. Action plans can include installing flood barriers, storm shutters, upgraded drainage systems, impact-resistant windows, reinforced roofs, and elevated foundations. These investments can lead to short-term cost savings, better resilience, and longer-term ROI. Recognized benefits include: Lower insurance premiums: Most insurance companies now integrate physical climate risk scenarios in stress test modelling to calculate premiums accounting for potential risk of future loss. This increasingly influences insurance premiums. Lower costs from severe weather damage: According to from 2020-2024, the cost of climate-related damage in the U.S. was $746.7 billion; the annual average exceeded $149 billion. This financial impact is more than double the annual average of $64.8 billion from 1980 to 2024. Build to higher standards: A study by the U.S. Chamber of Commerce showed that for every $1 invested in disaster preparation, communities save $13 in economic costs, damages, and cleanup. One example showed, '$83 million of investments in resilience and preparedness for a serious tornado hitting Nashville would save more than 5,300 jobs. The amount of production and income saved would be more than $683 million and $464 million, respectively.' An S&P Global Sustainable1 report found that companies could face physical climate costs of up to 28% of the asset value annually without mitigation efforts. Supply chain risk mitigation: Building more resilient supply chain operations and avoiding disruptions from physical building damage and labor interruptions can lead to longer-term ROI. These risks pertain to both U.S. and off-shored supply chain facilities. Transition risk management Climate change and its associated risks continue leading to longer term economic changes. These bring transitionary risks that are important to consider to avoid higher resource and material costs. Through transition risk management, real estate owners can position themselves for: Less exposure to energy supply volatility pricing: Through decreased energy consumption or using alternative sources. Resource scarcity: Can lead to increasing costs and lack of availability of land, water, timber, and steel. Improved capital and lending rates: Rates may consider transition climate risks in risk analysis, or provide green financing with lower rates. Stranded assets: Avoid real estate assets that can be devalued by not appropriately mitigating transition risks. These stranded assets may not be aligned with building energy performance standards such as New York's Local Law 97. Noncompliant buildings could see value reductions of 10–20% due to penalties and retrofit costs. Furthermore, a First Street study suggests that a $1.4 trillion devaluation will occur across real estate assets over 30 years if they fail to meet decarbonization pathways. Communication is key In creating strategies for cost efficiencies and resilience, the owner's ultimate desire is to create a portfolio of attractive assets that are optimal operationally to gain short-term and long-term ROI. It is vitally important to communicate how the company is pursuing these cost saving and resilience initiatives to appropriate stakeholders including investors, banks, employees, operators/tenants, and communities, to help each stakeholder understand the assets' value. Key ways to drive this communication include: Green building certifications: These include LEED, BREEAM, and IREM certifications, which provide stakeholders with independent validation of key energy and carbon management initiatives. Investor reporting frameworks: GRESB and UNPRI provide investors a detailed look at initiatives being pursued, along with gaps, allowing them to benchmark and compare them to peers. Corporate social responsibility reports: These tell stakeholders, such as employees and tenants, about the sustainability efforts being addressed, offering better transparency. Last thoughts Many are pursing the ultimate goal of creating an environment that allows us and future generations to prosper and thrive. Looking at initiatives under the return on investment lens offers a sustainable pathway to meet people where they're at, speak a language they can connect to, and invite them to join the journey leading to a more sustainable economy and world. I look forward to continuing the discourse on how sustainability initiatives can best help drive for cost efficiencies and resilience so that these initiatives move from being an overlay to being deeply integrated into operational excellence.
Forbes
20 hours ago
- Automotive
- Forbes
3 Electric Vehicle Leaders Emerge Amid US Retreat
Entrance to Latimer House and Banner Announcing TTDS 2025 In the rolling green Buckinghamshire countryside, about 30 miles outside of London, sits an idyllic English manor home shrouded in intrigue. The Latimer House is the place where captured high-ranking German officers unwittingly gave up their secrets like those pertaining to Hitler's V-1 and 2-2 rockets to ingenious British and American operatives near the end of the Second World War. The house, it was said, had ears. In June, the house made history again, albeit this time with no intrigue. It was the venue for the annual Transatlantic Transportation Decarbonization Summit hosted by the International Council on Clean Transportation (ICCT). Leading policymakers and analysts gathered to explore global developments in the transition to clean transportation technologies and systems. As someone who spent decades working on vehicle emission policies, including leading the development of the U.S. Environmental Protection Agency's most ambitious vehicle emissions standards to my current role as an advisor to philanthropies—I've seen first-hand how smart public policy can spark innovation and drive markets. But as other countries are deploying long term strategies, the US is dismantling its own. While China, the EU and the United States and get outsized attention, we learned at the ICCT hosted summit how three other countries are showing clean transportation success takes many forms: Chile's electric bus revolution, the United Kingdom's long range regulatory certainty, and Norway's rapid Electric Vehicle (EV) adoption. Their approaches show how countries can win the race to lead the new clean energy sector that is set to triple to more than $2 trillion in the coming decade. Chile's Electric Bus Revolution Chile's delegation to the ICCT's summit shared their ambitious effort to transform urban transit. The city of Santiago expects nearly 4,500 electric buses will be in operation by the end of 2025, representing up 70% of its fleet. That's more than any major city for electric public transport outside of China. The environmental and public health benefits are substantial: One electric bus prevents the equivalent emissions from 33 gasoline vehicles, with 70% lower operating costs compared to diesel buses. Chile's experience goes deeper with hydrogen powered buses. The country's National Green Hydrogen Strategy projects $5 billion in renewable energy investments by 2025, positioning Chile as a leading global producer and exporter of green hydrogen by 2030. This creates a virtuous cycle where clean transportation adoption supports renewable energy deployment, which in turn reduces the entire transport system's carbon intensity. Chile proves that emerging economies don't need to follow the polluting technologies of the past. They can leapfrog and thrive. Regulatory Certainty in the United Kingdom The UK hosted this summit, showing how smart regulation can accelerate market transformation. The country's zero-emission vehicle (ZEV) mandate requires 80% of new cars to be zero emissions by 2030 and 100% by 2035. This long-range timeline gives automakers and investors a roadmap and has helped to boost EV sales. In 2024, 28% of new vehicles sold were battery electric and plug in electric, just ahead of California's 25%. The UK's experience validates a key insight from my EPA years: Long range policy certainty drives business investment. This clarity has attracted substantial private investment in charging infrastructure, with £500 million committed to support public charging through 2025, including fast chargers along strategic transport corridors. While other European markets have struggled with EV sales or considered rolling back clean transport policies, the UK has resisted industry calls for rollbacks and its committed to its long range policies. A Fully Mobilized Transition in Norway Norway shared the latest on their remarkable progress on vehicle electrification. Last year, around 90% of new passenger cars sold in Norway were fully electric; EVs now account for more than 28% of all cars on the road, and expectations are that the number will grow to 50% in the coming years. By comparison, in China only one in ten vehicles on the road are electric as of 2024. What's behind that stunning success? Comprehensive policy support, including significant tax incentives and extensive charging infrastructure development. In 2016 Norway's Parliament decided on a national goal that all new cars sold by 2025 should be ZEVs and the country mobilized policy to achieve that target. In concert, Norway's charging infrastructure has expanded dramatically, with more than 25,000 public EV charging points; the average Norwegian can find a rapid charge point within 30 miles. Norwegian consumers have embraced EVs thanks in large part to this network of interconnected policy. Consumers and corporate customers enjoy benefits including exemption from high purchase taxes, toll charges, permission to use transit lanes, free access to ferries, and even free parking in certain urban spaces. This had made Norway not only a clean transportation leader but a global testbed for next-generation EV technologies, smart grid integration, and vehicle-to-grid systems, with major automakers using the Norwegian market to pilot innovative electric mobility solutions. A Different Direction for the U.S. And then there is the United States. The contrast between these successes and the current U.S. trajectory couldn't be starker. While others are building momentum through policy certainty and sustained investment, America has embarked on what the EPA calls 'the biggest deregulatory action in U.S. history,' with proposed rollbacks impacting dozens of rules from emissions limits for power plants and vehicles to air quality standards. As part of its broader efforts to repeal the successful Inflation Reduction Act, the administration halted distribution of unspent funds for vehicle charging stations from a $5 billion fund and called for ending the California waiver to enforce more ambitious zero-emission vehicle rules. Most recently, Congress passed the administration's multitrillion-dollar bill that eliminates federal tax incentives for consumers who buy or lease EVs. This upends hundreds of billions in private investments: Markets thrive on certainty, and uncertainty kills investment. While other nations create the stable policy frameworks that attract private capital and accelerate innovation, the U.S. is dismantling the very policies that drove American leadership in clean transportation technology. The irony is profound. Our country is retreating from the lucrative global clean transportation race it helped start and, for a while at least, looked like it could win. Lessons for Global Transition to Clean Transportation Chile, the UK, and Norway offer distinct yet complementary approaches to the clean transportation transition, but the common thread is simple: Policy drives markets, certainty attracts capital, and goals galvanize industries to act, and commitment inspires innovation. They're not waiting for perfect technology or ideal economic conditions. They're creating market conditions that accelerate innovation. This approach is the future of global clean transportation. The US once helped lead this movement. It still has the talent, the capital, and the technology to do so again. But it can't lead by retreating. The rest of the world isn't waiting. At Latimer House, decades ago, secrets shaped the course of a world war. Today, it's not secrets we need, but clarity and consistency. The clearest message from this global summit? The clean transportation future is already arriving—and those who hesitate risk being left behind. May today's policymakers be listening.
Zawya
a day ago
- Business
- Zawya
Mubadala in deal to buy top German property tech group for $7.8bln
Mubadala Investment Company, the Abu Dhabi-based investment company, alongside Partners Group, one of the largest firms in the global private markets industry, GIC, a leading global investor, and TPG Rise Climate, the dedicated climate investing strategy of TPG's global impact investing platform, have signed a deal to acquire Techem, an international provider of digitally enabled solutions for the real estate sector. Founded at Frankfurt, Germany, in 1952, Techem today has over 440,000 customers in 18 countries and services over 13 million dwellings. As a reliable long-term partner, Techem aids the property sector and private landlords in enhancing energy efficiency, reducing consumption, costs, and CO2 emissions through low-investment, non-invasive methods. Its services contribute to the long-term decarbonization of the real estate sector, which accounts for around 40% of global CO2 emissions. Approximately 62 million of Techem's devices are currently installed worldwide, said the company in a statement. As per the agreement, Techem will be acquired for total consideration of AED29 billion ($7.8 billion). The transaction is expected to close in H2 2025, subject to customary conditions and regulatory approvals. Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala's Private Equity Platform, said: "The decarbonisation of the real estate sector continues to be a global priority for better and more sustainable living. As a trusted and leading sub-metering services provider with a digital edge, Techem is well positioned to continue leading this transition, improving the energy management of buildings through better efficiency and consumption." "We are delighted to be investing alongside Partners Group, GIC, and TPG Rise Climate and to be supporting Techem as it continues to expand and strengthen its value proposition. This transaction aligns with Mubadala's long-term commitment to deploying capital purposefully and helping to find solutions to global challenges," he added.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
a day ago
- Business
- Yahoo
Global Oil Consumption Reaches All-Time High
Each year, the Statistical Review of World Energy offers important insights into global energy trends. Now published by the Energy Institute in collaboration with KPMG and Kearney, the 2025 edition—reflecting full-year 2024 data—reveals that global oil production and consumption remained relatively steady, but there are meaningful shifts underway. These shifts reflect not only changing geopolitics and economic recovery patterns but also longer-term questions around energy security, investment priorities, and the uneven global evolution toward decarbonization. In 2024, global oil consumption–which excludes biofuels but includes coal and natural gas derivatives–reached 101.8 million barrels per day (bpd). The represents an all-time high that slightly surpassed the 2023 level by 0.7%. On average, oil demand has increased by 1% per year over the past decade, driven almost entirely by non-OECD countries. The U.S. remains the world's largest oil consumer, accounting for 18.7% of global demand. Daily consumption in the U.S. fell slightly from 2023, but over the past decade it increased by 0.5% per year on average. China was the world's second-largest oil consumer, accounting for 16.1% of global demand. Its daily consumption fell 1.2% to 16.4 million bpd in 2024. This decline is a marked departure from the average 4% gain per year over the past decade, which means China's oil demand may be showing signs of plateauing. With economic growth slowing and a push toward electrification of transportation underway, some analysts speculate China may be approaching its long-term oil demand peak. Meanwhile, India's oil consumption continues to surge, jumping 3.1% year-over-year to 5.6 million bpd. The nation's economic expansion and rising middle class continue to drive growth, putting India on track to become the third-largest oil consumer globally within a few years. OECD nations saw modest changes in oil demand (+0.1%) while non-OECD nations saw demand jump by 1.2%. On the production side, global oil output (including natural gas liquids and other liquids) hit a record 96.9 million barrels per day. That's 1.8 million barrels more than the pre-pandemic peak, and about 9% higher than the lows seen during the COVID-19 downturn. On the surface, it's a story of resilience and recovery. But dig a little deeper, and the numbers reveal a more complicated picture. The United States continues to lead the world in total oil production, clocking in at 20.1 million barrels per day. But that headline figure includes a sizable share of natural gas liquids—byproducts like ethane and propane that aren't typically directly used as transportation fuels but may function as refinery feedstock. Strip those out, and U.S. production of crude oil and condensate—the type of output most analysts consider 'true oil'—comes in at 13.2 million barrels per day. Although this was yet another production record, the 2% increase from 2023 was less than half the 4.2% average annual gain over the previous decade, which could be an indication that U.S. production is close to a plateau. Russia follows in second place at 10.2 million barrels per day of crude plus condensate. That was down 3.1% from 2023, largely due to the impact of Western sanctions and logistical constraints. However, Russian exports to China and India remained robust, helping the country maintain relevance in global energy markets despite diplomatic isolation. Saudi Arabia also saw production fall by 4.2%. Saudi was in third place in 2024 with 9.2 million barrels per day, the lowest level since 2011. The drop reflects both voluntary production cuts to support prices and long-term questions about the Kingdom's spare capacity amid heavy domestic investments in refining and petrochemicals. The Statistical Review also sheds light on global oil reserves, although those are only available for the end of 2020. At that time, the world's proven oil reserves stood at 1.7 trillion barrels—enough to sustain current production levels for roughly 53.5 years. However, the distribution of those reserves remains highly uneven. Venezuela still holds the largest proved reserves, at 304 billion barrels, but much of that oil is heavy and difficult to extract. Saudi Arabia is second with 298 billion barrels, followed by Iran at 158 billion. The U.S., by contrast, holds 69 billion barrels—reflecting both a mature production base and a reserve classification system that tends to be more conservative. A few notable trends emerged from this year's data: Saudi Arabia's Output Decline: The drop in Saudi production is significant not only because it's the lowest in more than a decade, but also because it signals a shift in how the Kingdom may balance price stability with market share. U.S. Efficiency and NGLs: While the U.S. continues to be the top oil producer, a growing share of that output is in the form of natural gas liquids, which are not suitable for all applications and require different refining infrastructure. This evolution has implications for and refining strategies. Flat Growth in Global Reserves: The relative lack of reserve growth despite strong consumption reflects an investment hesitancy across much of the industry. This could pose long-term supply challenges if demand doesn't moderate. India's Ascent: India's rise as a major demand center—with relatively little domestic production—makes it one of the most strategically important countries in the oil market. Its policy choices on storage, refining, and renewables will shape future demand dynamics. Guyana's Rise: Guyana's meteoric rise from zero to over 600,000 barrels daily in just five years is one of the fastest production ramps in oil industry history. With reserves now estimated at 11 billion barrels, Guyana is projected to reach 1 million barrels daily soon, potentially becoming a top-five global producer within the decade. Oil markets in 2024 were defined by an uneasy equilibrium. On the one hand, production and consumption were closely matched, and price volatility was relatively contained. On the other, the factors holding that balance together—OPEC+ coordination, U.S. shale resilience, and subdued global demand growth—are all subject to disruption. Looking ahead, several questions loom: Will China's oil demand begin to decline in absolute terms? Can U.S. shale sustain output without massive reinvestment? Will geopolitical risks in the Middle East, Russia, or elsewhere upset the delicate supply-demand balance? These aren't just market questions—they are strategic ones that affect global inflation, trade, and energy security. The 2025 Statistical Review confirms that oil is still very much at the center of the global economy. Demand is growing in the developing world, production remains concentrated among a handful of players, and supply vulnerabilities persist. In the coming weeks, I'll continue to unpack key findings from the Statistical Review, including natural gas, coal, renewables, and nuclear power trends. But one thing is clear from the oil data: in a world increasingly focused on energy transition, the importance of oil—economically and geopolitically—hasn't gone anywhere. By Robert Rapier More Top Reads From this article on 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
