Google announced today a new commitment to contract for at least $35 million of carbon removal credits over the next 12 months, as part of an initiative by the U.S. Department of Energy (DOE) aimed at helping to scale the carbon removal sector by funding the sector’s innovations and technology. In a post announcing the new commitment, Randy Spock, Carbon…
Cleantech startup Furno, announced that it has raised $6.5 million in a seed funding round, with proceeds aimed at supporting the company’s solution to help decarbonize the cement industry. Building materials are a key source of global greenhouse gas emissions. Cement production, an ingredient in concrete, accounts for approximately 8% of global carbon dioxide emissions, with over 900 kg of…
The U.S. Department of Energy announced today that it will allocate $750 million to a series of projects aimed at dramatically reducing the cost of clean hydrogen, by supporting areas including advance electrolysis technologies and improved manufacturing and recycling capabilities for clean hydrogen systems and components, supporting the government’s ambition to significantly boost the U.S.’ clean hydrogen production capacity over…
The Canadian Sustainability Standards Board (CSSB) announced today the release of new proposed standards for companies to report sustainability and climate-related information, based on the recently released sustainability disclosure standards by the IFRS Foundation’s International Sustainability Standards Board (ISSB). The release of the new standards may form a significant step towards the introduction of mandatory climate-related reporting requirements for Canadian…
Introduces new target, but eliminates 2035 goal due to energy transition “uncertainty” Energy giant Shell announced today the release of “Energy Transition Strategy 2024,” the first update to its “Powering Progress” strategy, launched in 2021, outlining the company’s climate transition roadmap and goals. The updated strategy includes Shell’s first interim target to reduce emissions from the use of its oil…
1PointFive, the Direct Air Capture (DAC)-focused subsidiary of energy giant Occidental (Oxy), announced today an agreement today with telecommunications company AT&T for the purchase of carbon dioxide removal (CDR) credits from 1PointFIve’s Texas-based DAC facility, STRATOS. DAC technology, listed by the IEA as a key carbon removal option in the transition to a net-zero energy system, extracts CO2 directly from…
Alternative investment firm Stonepeak announced today an agreement with global energy developer Ørsted to acquire and equity ownership stake valued at approximately $300 million in a 957 MW portfolio of U.S. onshore wind farms. The portfolio includes four onshore wind farms across Illinois, Texas and Kansas. According to the companies, the portfolio is highly contracted, with each project currently operational,…