Latest news with #carbonneutral
Reuters
12 hours ago
- Business
- Reuters
Germany regrets Arcelor's decision to halt carbon-neutral steel production
BERLIN, June 20 (Reuters) - Germany's economy ministry on Friday expressed regret over ArcelorMittal's ( opens new tab decision not to proceed with two key hydrogen steel projects in Germany, foregoing government help amounting to 1.3 billion euros ($1.5 billion). "It is important to note that no money has yet flowed. This means that no money has to be reclaimed," the ministry said in an emailed statement. ArcelorMittal said it had dropped plans to convert two plants in Germany to carbon-neutral production because the country's energy costs were too high. ($1 = 0.8687 euros)
Reuters
a day ago
- Business
- Reuters
ArcelorMittal drops plans for green steel in Germany due to high energy costs
BERLIN, June 20 (Reuters) - ArcelorMittal ( opens new tab, the world's second-largest steelmaker, said on Thursday it had dropped plans to convert two plants in Germany to carbon-neutral production because the country's energy costs were too high. The decision to turn down 1.3 billion euros ($1.49 billion) of public subsidies is the latest blow to a German industrial sector that is still reeling from the blow of suddenly losing access to the Russian gas that had powered its factories for decades. It also casts doubt over the green hydrogen strategy launched by the previous government. The government had hoped the subsidies would encourage ArcelorMittal to convert existing plants at Bremen in the north and Eisenhuettenstadt in the east to use furnaces fired with hydrogen, which can be created from renewably generated electricity. But the steelmaker said it had decided not to go ahead with the plans because energy costs in Germany were too high and there was too much uncertainty about its future energy mix. "The first electric arc forges are being built in countries that can offer competitive and predictable electricity provision," it said, highlighting a recent investment in an electricity-fuelled forge in nuclear-powered France. "Electricity prices in Germany are high both by international standards and compared to neighbouring countries," it said, adding that the entire European steel industry was also suffering because consumers were importing so much rather than buying from local producers. Germany is rapidly building out renewable electricity networks, but the transition from reliance on Russian gas has proven lengthy and economically painful, despite generous subsidies on offer to industries that rely on natural gas to switch to hydrogen in its place. The conservative-led government that took office this year criticised the previous left-leaning government's energy strategy but has not so far spelled out a radically different approach. "The European steel industry is under unprecedented pressure to preserve its competitiveness," said ArcelorMittal Europe head Geert van Poelvoorde. "And that's before the extra costs of decarbonisation." He urged the European Commission to act to cap imports of certain kinds of steel into Europe, saying foreign competition was the most urgent problem the industry faced. ($1 = 0.8699 euros)
ABC News
3 days ago
- Business
- ABC News
Logan City Council to pull out of federal government Climate Active program due to financial pressure, transparency concerns
Queensland's only certified carbon neutral council is set lose that title, blaming the rising cost of delivering services and successive natural disasters for its inability to fund the process. Logan City Council, south of Brisbane, said it also had concerns around transparency and where the funds it was paying to be certified were going. The council is one of 14 local governments around Australia registered with the federal government's Climate Active program. To achieve carbon neutrality through the Climate Active program, businesses or organisations calculate their emissions from their operations and then seek to reduce them through technological or operational changes. The remainder is offset by buying carbon credits. Logan Mayor Jon Raven said leaving the program would save the council about $1.5 million, which it is spending on overseas carbon credits each year. Mr Raven said the council did a lot of carbon offsetting itself, through running rooftop solar on its building, generating natural gas from landfill and hydrogen from wastewater treatment. "[But] no one's been able to confirm where that money goes or show us any concrete evidence it is actually being spent to improve the environment. "I don't believe we were carbon neutral when we were just sending money overseas to projects no one could confirm existed. Carbon credits are a way for organisations like governments or businesses to pay for emissions-reducing projects, both in Australia or overseas, and use credits generated by these projects to offset their own emissions. Climate Active does not trade carbon credits. Instead, organisations go through online marketplaces and third parties to purchase eligible offsets. But the certification scheme has seen an exodus of companies leaving it in recent years. More than 100 companies, including Telstra, NRMA, Australia Post and major super funds have left Climate Active in the last 19 months. There have been calls to shut down the program over concerns about the efficacy of offset schemes. Australian National University regulatory and environmental markets expert Professor Andrew Macintosh said there was a lack of integrity when it came to both national and international carbon credits. Professor Macintosh is a non-executive director of Paraway Pastoral Company, which operates a number of carbon offset projects. "People have got carbon credits for making changes or reductions in emissions that would've occurred anyway," he said. He said there has been concern over some types of carbon credits being used on projects like wind farms in India that were already fully viable, while in Australia there were concerns another type of credit was being bought for natural forest regeneration in areas where there were no trees. "Talking to clients, talking to friends, I recommend they don't be certified under Climate Active because of the concerns about carbon offsets, because of transparency," he said. "This is one of the real tragedies, there are good projects out there and they're being tarred by the fact that both our government and other schemes around the world have allowed bad projects and rotten credits to be issued," Professor Macintosh said. "Logan City Council was certainly trying to do the right thing, but they probably can't tell the difference between good and bad credits." A spokesperson from the Department of Climate Change, Energy, the Environment and Water — which oversees Climate Active — said the government was "actively considering the future direction of the Climate Active program". "We recognise that Climate Active needs reform and that work is under way as a priority that will involve proper consultation," they said. "The Climate Active program continues to operate, certifying entities that have met the program requirements." The spokesperson said the federal government continues to work to ensure the integrity of the Australian Carbon Credit Unit (ACCU) Scheme following recent reviews by the Climate Change Authority, independent experts and the Australian National Audit Office. "These reviews have found the ACCU Scheme is well designed, well administered, and contributing to Australia's transition to net zero by 2050," they said. The ABC understands six local governments have voluntarily withdrawn from the program in the past five years. Professor David Karoly from the Climate Council said the only way to slow climate change was by reducing both greenhouse gas emissions and the concentration of greenhouse gasses in the atmosphere. "If we want to offset, we have to get it out of the atmosphere and store it away permanently," he said. He said for a carbon offset to make a difference it had to be "long-term in terms of storage, high-quality… and defensible and demonstrable in terms of reductions in emissions". "All of those issues for many of the international offsets are very hard to determine," Professor Karoly said. He said there needed to be stricter international quality assurance controls of offsets. Professor Karoly said there were a range of initiatives local governments could undertake to reduce emissions, including installing solar powers, upgrading their fleets to electric vehicles and planting more vegetation and trees. Mr Raven said the Logan council would use the money saved from funding carbon credits to buy degraded land for revegetation, purchasing high-quality habitat to protect it, as well as other local carbon offset projects. "It will mean we aren't carbon neutral certified, but it will mean we can say your ratepayer dollars are being spent in our city to the benefit of the environment," he said. "We've got no confidence that was happening with this program."
BBC News
11-06-2025
- General
- BBC News
Leisure centres in Lowestoft, Woodbridge and Leiston go greener
Three leisure centres will move towards going carbon neutral after a council secured a £2.8m government grant for upgrade in Lowestoft, Deben in Woodbridge and Leiston Leisure Centre are to get air-source heat pumps for heating and CO2 heat pumps for hot Suffolk Council, which has contributed £2m, said the new systems - along with solar panels - would "significantly cut energy use and emissions".Sarah Whitelock, cabinet member for communities, culture, leisure and tourism, described the funding as a "game-changer", adding: "We're proud to be taking action that benefits both residents and the planet." Greenhouse gas "It allows us to make real progress towards our environmental goals while continuing to invest in high-quality leisure facilities for our communities," she Leisure Centre will also get a new roof, and all three centres will get more solar council said its six leisure centres represented the single largest contributor to its total greenhouse gas emissions, accounting for around 42%.Tackling emissions from the buildings was "crucial" to achieving its goal of becoming carbon neutral by 2030, it added. Follow Suffolk news on BBC Sounds, Facebook, Instagram and X.
News24
03-06-2025
- Business
- News24
EU climate investments lagging 'well below' target
Climate investments in the EU are still far below what is needed to transition away from fossil fuels, a new report warned. Between 2022 and 2023, EU-wide investments grew from 491 to 498 billion euros (~R9.9-R10 trillion) - with the data available so far for 2024 pointing to a slowdown. The EU has set a goal of becoming carbon neutral by 2050, and says it has already cut emissions by 37% compared to 1990. For climate change news and analysis, go to News24 Climate Future. Climate investments in the 27-nation EU are still far below what is needed to transition away from fossil fuels, a new report warned Tuesday, spotlighting lagging investments in wind power and building renovation. After a stretch of sustained growth, public and private investments in key climate-related sectors - energy, buildings, transport and clean-tech manufacturing - have been flatlining in recent years, said the report by the Institute for Climate Economics (I4CE). Between 2022 and 2023, EU-wide investments grew from 491 to 498 billion euros (~R9.9-R10 trillion) - with the data available so far for 2024 pointing to a slowdown, the think tank found. Present investment levels were "well below" what the bloc needs to meet its 2030 emissions reduction goal, which the institute estimates to require 842 billion euros (~R15 trillion) each year. The findings contrast with the signal sent by the European Commission, which last week declared the bloc on track to meet its 2030 target of slashing planet-warming emissions by 55 % compared to 1990 levels. The commission's upbeat projection was based on the energy and climate plans drawn up by EU member states. "It's easy to set goals, more difficult to implement the policies," cautioned Jean Pisani-Ferry, the I4CE's chair, at the report's launch in Brussels. Wind power and energy renovations in older buildings are falling especially short - with investments at around one third of what is needed, the report said. Solar power investments, however, were on the right track. The I4CE did not factor in investments in nuclear power, which it says remain outside the scope of its report because "the EU does not have precise objectives to develop nuclear energy." The EU's vice president for the clean transition, Teresa Ribera - who was present for the report's launch - acknowledged the investment shortfall was a "point of concern". "We can do better," she said, arguing that "a lot of strengths are not fully exploited" within the bloc. The EU has set a goal of becoming carbon neutral by 2050, and says it has already cut emissions by 37% compared to 1990. Brussels now needs to agree on an interim target for 2040 - expected to be unveiled on 2 July - with the commission seeking to cut emissions by 90% compared to 1990 levels.
