Last week remained eventful for climate tech developments, with significant developments across various sectors highlighting global efforts towards sustainability. France announced its ambitious Carbon Capture, Utilisation, and Storage (CCUS) strategy to tackle industrial emissions, while Verra launched the Verified Carbon Standard Methodology VM0049 for global CCS projects. Alberta completed its transition away from coal-fired electricity, a milestone in its clean energy journey. Tech leaders like Microsoft and Google DeepMind advanced AI-driven carbon capture and weather forecasting technologies. Meanwhile, financial giants BlackRock and innovative platforms like Amazon’s Sustainability Exchange contributed to accelerating climate-focused investments. Here’s Climate Insider’s weekly news breakdown:
- France has announced its Carbon Capture, Utilisation, and Storage (CCUS) strategy, detailing its plan to cut carbon emissions by capturing CO2 from industrial sources and either utilising or storing it to prevent its release into the atmosphere. Read More
- Verra has launched the Verified Carbon Standard (VCS) Methodology VM0049 for Carbon Capture and Storage (CCS). VM0049 serves as a universal framework for technology-driven CCS activities that produce carbon dioxide removals (CDRs) and emission reductions worldwide. Read More
- At 10:57 p.m. on Sunday, June 16, Alberta’s final coal plant ceased operations. An official announcement soon after quietly marked the conclusion of coal-fired electricity in Alberta. Read More
- On Tuesday, tech giant Microsoft signed a groundbreaking carbon capture agreement with 1PointFive, a subsidiary of Occidental Petroleum, highlighting the increasing concern among major technology firms about the carbon footprint associated with artificial intelligence. Read More
- BlackRock has introduced its Decarbonization Voting and Engagement Policy for Climate-Focused Funds. The investment giant unveiled its new “Climate and Decarbonization Stewardship Guidelines,” outlining distinct engagement and voting strategies tailored for investors focused on transitioning to a low-carbon economy. Read More
- Google DeepMind’s revolutionary AI weather forecasting technology, GraphCast, has been honoured with the 2024 MacRobert Award, the UK’s oldest and most esteemed accolade for engineering innovation originating in the UK. Read More
- The UK Government has unveiled plans to create a National Wealth Fund aimed at fostering economic growth and attracting private investment. Read More
- RMI’s Catalytic Climate Capital Initiative aims to stimulate clean energy investment in the Global South through partnerships involving private, public, and philanthropic sectors. Read More
- The Carbon Trust has announced Michael Rea’s appointment as its Chief Executive Officer, following Chris Stark’s recent assignment to lead the UK government’s new ‘Mission Control,’ which aims to coordinate the delivery of clean power by 2030. Read More
- InnoEnergy, known for cultivating the growth of Europe’s leading Industrial Unicorns and their dedication to achieving net-zero goals, is pleased to introduce Ryan Dings as the new CEO for the US market, bringing his expertise to further foster growth. Read More
- Last week, the federal government greenlit a US$7-billion acquisition where Swiss-based Glencore took over Teck Resources’ steelmaking coal mines, describing it as a long-term commitment ensuring “generational assurance of robust environmental stewardship.” Read More
- Amazon has introduced the Sustainability Exchange, a freely accessible platform that shares previously proprietary guidance and information to assist other companies in reaching net-zero carbon emissions. Read More
