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...Tata Steel is receiving £500mn of state support to help its transition to producing green steel through electric arc furnaces, which are less carbon-intensive and require fewer workers....
...But the only taker for Guyana’s credits so far has been US oil and gas producer Hess Corporation, which owns 30 per cent of the Stabroek oil block off Guyana’s coast, and was bought by Chevron last year....
...But Patrick Orlando, whose Arc Global Investments is the largest investor in DWAC, has so far held out on casting his vote....
...Renewables developers are increasingly striking long-term power deals with large corporations, helping both sides get some certainty over long-term power prices....
...British Steel said its plans would reduce its carbon dioxide emissions by 75 per cent....
...The Indian steelmaker intends to replace its traditional blast furnaces with an electric arc furnace, a lower-carbon production method that requires a much smaller workforce....
..., electric arc furnace on the site....
...The City of London Corporation, which owns the London Wall West site, will seek to entice a private sector developer to take on the project....
...The company announced in January a consultation on its proposals to invest £1.25bn to build a state of the art electric arc furnace, which Tata has said would secure steelmaking in the UK....
...Electric arc furnaces, which melt down scrap steel, are less carbon intensive but also much less labour intensive. Tata said it expected the electric arc furnace to be operational by 2027....
...Manufacturers, ranging from giant corporations to smaller companies in the country’s famed Mittelstand, have already been hit by rising inflation and a rapid increase in interest rates....
...Electric arc furnaces are less labour-intensive, cheaper to run and less carbon-intensive....
...It also fears that exporting scrap to countries with lower environmental standards could fuel carbon emissions....
...The Indian company is to close its coal-burning blast furnaces in the Welsh town of Port Talbot — which will come with the loss of 2,800 jobs — and replace them with far less carbon-intensive electric arc...
...The ECB is already taking steps to address what critics have called its inherent “carbon bias”....
...China’s state-owned giants, China National Nuclear Corporation and China General Nuclear Power Group, are also expanding rapidly....
...Reeves also gave her clearest hint yet that Labour could jettison its pledge to spend £28bn a year on low-carbon infrastructure after the Tory government’s spring Budget, depending on the state of the public...
...Companies are looking at a combination of electric arc furnaces and hydrogen to eliminate carbon dioxide emissions completely in the future....
...Europe’s steel plants know they will need to pay the full cost of carbon dioxide emissions by 2034....
...Will there be a premium [paid to businesses using carbon capture]? If big corporations are serious, they need to start buying carbon-free materials.”...
...But in 2021, Ireland said it would progressively increase its carbon tax to €100 per tonne of carbon dioxide emitted by 2030 and ringfenced the increased revenues for financing climate-related investment...
...resting lightly on the lectern, Sir Paul Marshall laid in to the three enemies of the free market, what he called the “mutant siblings” of capitalism: the “cronies” colluding at Davos, monopolies and “woke” corporations...
...We truly have a market system that has been captured by large corporations, something that I experience nearly every day in my own working life....
...While Europe and the UK are trying to cut their reliance on natural gas to reduce carbon dioxide emissions, others are turning to the fuel as a lower carbon alternative to coal....
...The company wants to close its two remaining blast furnaces as quickly as possible and build a less carbon-intensive electric arc furnace....
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