Here are some of the latest headlines from around the energy industry last week.
The EU funded project HEATLEAP launched demonstrating the environmental and economic benefits of waste recovery systems.The project focuses on using large heat pumps to reuse heat released into the atmosphere by energy-intensive industries. According to HEATLEAP, by reusing and recovering waste heat, energy intensive industries can become much more efficient, competitive and climate friendly.
The BBC released an article debating the future of Hydrogen as an energy source and its green credentials. It’s environmental impact is contested due to its means of production often requiring the use of gas which is a fossil fuel. It’s production and use are expected to be discussed widely at Glasgow’s climate change summit COP26 in November.
Dogger Bank Wind Farm has announced that its new site, located at the Port of Tyne will be carbon neutral and upon completion will become the biggest offshore wind farm in the world, generating 5% of the UK’s electricity.
The Climate Action Tracker (CAT) released a Global update this week, reiterating the urgency to close the 2030 emissions gap, if we are to limit global warming of 1.5C. The new rating system has revealed that more targets and actions are needed.
Global bank ING have published their first integrated climate report which gives an overview of all elements of their climate action approach. They have recently updated their target, aiming to reduce their funding to upstream oil & gas by 12% by 2025 (from 2019).
Forbes released an in depth article about What is happening to the UK Energy prices. They discuss why the wholesale prices are rising, track back over time to show the changes and list why and what kind of tariffs can be affected.