article thumbnail

Californian Pension Funds Face Forced Divestment of Fossil Fuel Holdings

Chris Hall

The California State Teachers’ Retirement System (CalSTRS) and the California Public Employees’ Retirement System (CalPERS) have “wildly exaggerated” the costs of divesting fossil fuel holdings, according to climate activist group Fossil Free California (FFC). billion in fossil fuel investments that would need to be divested under SB 1173.

article thumbnail

EU Policy, Investments Must Drive Energy Efficiency in Buildings

Chris Hall

The report acknowledged steps the EU had taken to stimulate investment in building renovation, such as the mandatory Energy Performance Certificates and minimum energy performance standards for existing buildings from 2027. . Do they divest so the poorly performing assets are no longer on their books? Hunziker said. .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ørsted Wins UK Contract for Largest-Ever Wind Farm

ESG Today

When the wind farm has been fully commissioned, Ørsted will divest the transmission assets to a new owner. The CfD for the wind farm runs for up to 15 years starting after the commissioning of the wind farm, which is planned for 2027.

article thumbnail

‘NOCs’ Knock Investors off Net Zero Track

Chris Hall

The NOC is planning to increase oil production capacity from 12 million barrels per day to 13 million by 2027. Aramco announced record-breaking profits of US$161.1 billion in 2022, a 46.5% increase on the year before, in the wake of the energy crisis prompted by Russia’s invasion of Ukraine.

article thumbnail

A Green Future Built on Solid Foundations

Chris Hall

On 18 May, the Commission provided more details on its €300 billion REPowerEU plan, originally unveiled in March , which focuses on short-term recommendations between now and 2027, as well as medium-term targets which increase existing 2030 goals. Redrawing the blueprints .

article thumbnail

Shell’s Empty Transition Promise

Chris Hall

“If gas demand is to fall – the IEA expects it to peak before 2030 – these projects could be at risk of generating low returns for investors,” she adds. Vietnam’s first LNG terminal has been delayed until 2027, while the Philippines has faced contractual issues for gas-fired plants due to costs.

article thumbnail

The Cost-of-living Crisis Domino Effect

Chris Hall

Independent think tank the Resolution Foundation, which is working to improve living standards for low- and middle-income families in the UK, said that income inequality will continue to rise year-on-year, reaching highs of 40.8%