By William Wilkes, Vanessa Dezem and Brian Parkin (Bloomberg) -- Kevin Kilps’s car ferry churns the waters of Germany’s Rhine river as he steers toward the bank opposite Kaub, a scenic village just south of the rocky outcropping named after the legendary siren Lorelei. It’s typically a busy stretch of waterway. On a normal day, the commuter ferry vies for space with cargo … [Read more...]
Norway Awards Equinor License to Build CO2 Storage Under North Sea
OSLO, Jan 11 (Reuters) - Equinor has won a license to develop carbon dioxide (CO2) storage under the North Sea, Norway's oil ministry said on Friday, part of a push to combat climate change. Equinor is expected to submit a development plan this year, with parliament making a final decision in 2020 or 2021. Proponents of carbon capture and storage (CCS) say countries need … [Read more...]
Climate Risk Report Warns of Falling Norwegian Offshore Values
By Mikael Holter (Bloomberg) -- A key climate report commissioned by the Norwegian government warned that climate change could hurt the value of its remaining oil resources and even make pumping oil more dangerous due to extreme weather. “Norway is well placed to manage climate risk, but the implications of major climate change are potentially severe and challenging to … [Read more...]
Arctic Posts Second Warmest Year On Record in 2018 -NOAA
By Richard Valdmanis Dec 11 (Reuters) - The Arctic had its second-hottest year on record in 2018, part of a warming trend that may be dramatically changing earth's weather patterns, according to a report released on Tuesday by the U.S. National Oceanographic and Atmospheric Administration. "Arctic air temperatures for the past five years have exceeded all previous records … [Read more...]
Maersk Sets Goal of Becoming Carbon Neutral by 2050
Maersk sets ambitious net Zero CO2 emission target by 2050. Danish conglomerate A.P. Moller-Maersk, owner of the world’s largest shipping line, unveiled a major new climate initiative on Tuesday that sets an ambitious goal of becoming carbon neutral by the year 2050. In order to achieve this goal, Maersk says it will invest significant resources over the next 5 to 10 … [Read more...]