Big Oil's green-spending boost isn't big enough, IEA says
After the IEA's recent report showing a feasible pathway to stay below the Paris Agreement's 1.5 degree average temperature rise, several global fossil giants have been making more serious moves to gain green industrial absolution, not least after Shell, Chevron and Exxon's lashing last week, but the agency says this investment surge still won't suffice to steer the world away from peril.
BY WILLIAM MATHIS, BLOOMBERG NEWS
The oil and gas industry is set to boost investments in clean energy this year, but that still won’t be enough to put the world on a path to limit a dangerous rise in global temperatures.
EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.
A manufacturing presence in North America is crucial, says the CEO on the return to the US, where the aim is 2.5GW per year using both Germany’s largest turbine and an as yet unknown product.
Under the new management, Jupiter Bach has transformed the business from huge losses to a profit. However, the chief executive admits that coincidence has played a significant part.
Norlys Energy Trading is currently investing in growth, but competition for the best people has never been so intense, says the head of the energy trading company.
In the midst of an arbitration case with back-and-forth claims over a record-breaking turbine order, an Indian project developer now sues Siemens Energy to prevent the manufacturer’s departure.
The political trend towards marginalizing China is dangerous, says Siemens Energy’s hydrogen chief, who is confident about the German company’s abilities despite the much cheaper Chinese plants.
EU must introduce requirements for local production in the wind industry, says Jupiter Bach’s CEO. Otherwise, Europe will lose production and the knowledge needed to regain its footing.