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Last week a raft of oil majors released their first-quarter results, with companies like Royal Dutch Shell Plc showing a return to pre-pandemic profit levels. At the same time, some of the majors increased their energy transition commitments: as my Bloomberg Intelligence colleagues Salih Yilmaz and Will Hares noted on Twitter, Spanish firm Repsol SA devoted 40% of its capital expenditure to low-carbon projects, and France’s Total SE stated plans to increase its renewable energy capacity five-fold over the next four years.

Gas customers in the ACT face higher bills in the next five years after the energy regulator allowed a network request to extract more money from its customers before many of them switch to alternative technologies such as renewables.

New Zealand is the first country in the world to introduce legislation requiring banks, insurers and investment managers to report on the effects on their businesses on climate change.

As part of the ongoing debate on the means to achieve decarbonization for the maritime industry, the World Bank weighs in on the issue with a series of new research reports providing its perspective for policymakers and the industry.

Offshore wind will play an important role in the Majors’ plans to transform against the backdrop of the global energy transition.
Some of the European Majors, such as Equinor and Shell, have been on that road for several years. However, other European major oil companies have recently adopted radical shifts in strategic direction that will transform them over the coming decades.

One way to cut effluents while earning revenues is to price the carbon content of domestic production and imports, be it energy or transport. With the International Monetary Fund endorsing the European Union’s plan to impose carbon levies on imports, India can be among the first movers in the developing world in taxing and switching from carbon-intensive fuels (like coal), the main sources of climate change.

A new report released by the Rainforest Action Network (RAN) has revealed the world’s 60 biggest banks have provided finance to fossil fuel companies at a total of $3.8 trillion US dollars ($4.9 trillion AUD) since the establishment of the Paris climate agreement.

South Korea is one among only a handful of nations that have clearly set sights on hydrogen as the energy source of the future