Latest news with #netZero
Reuters
25-06-2025
- Business
- Reuters
UK's Miliband vows to lead in clean energy, demand corporate net zero strategies
LONDON, June 24 (Reuters) - Cutting emissions and investing in the green economy put Britain on the right path, energy secretary Ed Miliband said on Wednesday, as he pledged to push large companies to detail exactly how they plan to align their businesses with the shift. The government is under pressure from opposition parties over the perceived costs of the shift to net zero emissions at a time when energy costs remain high following Europe's shift away from Russian energy imports over Moscow's 2022 Ukraine invasion. Speaking to a gathering of climate investors, scientists and civil society groups at London Climate Action Week, however, Miliband reiterated its commitment to decarbonising the economy and stimulating green business growth. "Our mission is to make Britain a clean energy superpower by accelerating to net zero across the economy," he told the flagship conference at the climate festival, which brings together over 45,000 delegates, attending more than 700 side events. Central to the plan will be requirements for large companies to set out detailed plans for how they will cut their carbon emissions to align with a target of limiting global warming to 1.5 degrees of over pre-industrial levels. The government is also seeking to position London as a global sustainable finance hub. In a statement on Wednesday, it said it was weighing new sustainability reporting standards, which set out the information companies must provide to investors on sustainability-related financial risks and opportunities. Miliband said while increasingly severe weather events showed the urgency of the climate crisis, Russia's invasion of Ukraine and rising energy prices highlighted the need to deliver energy security from cheaper renewable sources. "Ours is ... a hard-headed determination to get off the roller coaster of fossil fuel markets with cheaper, clean, home-grown energy that we control," he said. Britain's plans to reach net zero by 2050 depend on its ability to slash energy prices to speed up the adoption of emission-curbing technology, such as electric vehicles and heat pumps, independent advisers to the government on climate change said on Wednesday. "By far the most important recommendation we have for the government is to reduce the cost of electricity both for households and businesses," Piers Forster, interim chair of the Committee on Climate Change, said at a briefing on its annual progress report. Miliband's comments on green growth followed the publication earlier in the week of Britain's new industrial strategy, which laid out plans to invest more than 30 billion pounds ($40.84 billion) a year by 2035 in areas such as renewable energy. New analysis overnight from the Energy Transitions Commission and consultants Systemiq found that 40% of the solutions needed to move the economy to net zero - for example twinning solar power and battery storage - were already more cost-effective than fossil fuels or would be by 2030. "We now need the right policies to enable other sectors of the economy to reach that tipping point, and to enable all countries to share in the economic opportunities created," said Energy Transitions Commission's chair Adair Turner. ($1 = 0.7346 pounds)
Telegraph
25-06-2025
- Business
- Telegraph
Miliband failing to cut household power bills, says climate adviser
Ed Miliband has failed to make any progress on cutting household power bills, the Climate Change Committee (CCC) has warned. The quango said in a damning new report that the Energy Secretary has not done enough to remove net zero levies from bills, which is making electricity too expensive. This failure means the UK remains at risk of missing its 2030 clean power target, it said, as inflated energy costs deter consumers from switching to electric cars and heat pumps. Its research found that green levies are adding £500 to heat pump running costs each year. 'The Government has made no clear progress on removing policy costs since the election,' the report said. 'Making electricity cheaper remains our first recommendation.' As part of its latest recommendations, the committee also called on ministers to curb emissions from Britain's aviation sector and ban all new homes from connecting to the gas network. 'By far the most important recommendation we have for the Government is to reduce the cost of electricity, both for households and for businesses and industry as well,' said Professor Piers Forster, CCC chair. 'If we want the country to benefit from the transition to electrification, we have to see it reflected in the utility bills, and that is our biggest recommendation – one that we have yet to see this Government deliver.' Backfiring The CCC is a statutory body that advises ministers on setting emission targets, measuring progress towards them and preparing for the impacts of climate change. Its latest comments will serve as a blow to Mr Miliband, who has repeatedly pledged to cut average household energy bills by 2030. The CCC's criticism will also sting given that, as energy secretary in 2008, Mr Miliband oversaw the passing of the Climate Change Act that brought the quango into existence. As for its proposed ban on connecting new homes to the gas network, the report said: 'Currently, 71pc of new homes include fossil fuel boilers, which creates additional emissions, bakes in costs for the future owners of these homes for retrofitting with low-carbon heating, and means poorer air quality for the families who move in.' Meanwhile, the committee's research found that the aviation sector produced 38m tonnes of carbon emissions in 2024. The quango said ministers must do more to curb the industry's growth, such as making flights more expensive to reduce demand. The report said: 'The most significant driver of aviation emissions since 1990 has been rising demand for international flights, particularly leisure. 'Aviation now contributes more to UK emissions than the electricity supply sector – a stark contrast to 1990, when aviation emissions were 10 times lower than from electricity, and close to half their current level.' 'Time for honesty' The CCC's intervention came as a separate study from the Institute of Fiscal Studies (IFS) also warned that the UK's system of carbon taxes and green levies was adding unnecessary costs to the drive for net zero. Lucie Gadenne, an economist at the IFS, said a tonne of carbon arising from most business activities would be taxed at £249 if it came from electricity, compared with just £52 if it came from gas. An urgent rethink is needed to lower taxes on electricity, the IFS said. An IFS spokesman said: 'Much of this tax gap comes from the choice to fund green subsidies through levies just on electricity, instead of a tax on all energy sources. 'If the Government wants to help households and firms with the costs of net zero, rethinking these taxes on electricity would be a good first step.' Following the CCC's latest report, Andrew Bowie, the Conservative shadow energy spokesman, said: 'Even the CCC can see Labour's plans are not working and are costing the British people and British industry. 'It is time for honesty from Ed Miliband about what his madcap plans are costing and the impact on Britain's economy as a result.' Richard Tice, Reform UK's energy spokesman, said: 'This report and the whole CCC will be thrown in the bin under a Reform government.' Mr Miliband thanked the CCC and said: 'The only way to get bills down for good is by becoming a clean-energy superpower and we continue to work tirelessly to deliver clean power for families and businesses.'
Daily Mail
25-06-2025
- Business
- Daily Mail
Gina Rinehart's blunt message for the Albanese government as she issues an urgent warning for Australians
Gina Rinehart has lashed out at the Albanese government's net zero emissions target, blaming it for declining investment in Australia. The billionaire mining magnate made the comments in a statement about Rio Tinto's decision to build a new iron ore mine, known as Hope Downs 2, in partnership with her company Hancock Prospecting. The new iron ore mine extends the current Hope Downs joint venture between Rio and Hancock in Western Australia. It was expected to create about 950 jobs during construction and 1000 jobs once operational in 2027. 'It's time not to be distracted by name-calling like far right and other names, and stick to the fact that investment is beneficial, and unfortunately declining in Australia,' Ms Rinehart said. 'We need to stand up, ignore the truth twisters, truth hiders and truth avoiders, and to point out what's needed if we want to see such investment bring jobs and benefits to many Aussies. '...If we want to see projects like Hope Downs 2 continue to be built, Australia needs to honestly confront and urgently address the reasons for its recent years of declining investment.' She said trillions of dollars' worth of taxpayer and shareholder money was being 'wasted' on the net zero emissions by 2050 target, 'adding expense not only to businesses, and resulting in even more record business failures, but expense for every Australian adult, and future Aussie adults, ensuring our taxes remain high'. 'Not forgetting, even if Australia reduces its approximately 1 per cent share of (global) emissions, what benefit is there really in the overwhelming expense and consequences that such reduction brings?' she asked. 'The truth hiders are not telling us manufacturing often requires 24-hour reliable electricity, such as dairy and aluminium, steel and AI. 'They ignore the consequences.' Ms Rinehart said the Labor government, whom she referred to as 'truth hiders' were misleading Aussies about the true cost of emissions targets. 'The truth avoiders are not telling us, that given the increasing introduction of renewables, businesses, even small ones, are being called up by bureaucrats demanding they stop using mains at times, so that thousands of homes in the cities don't lose power at peak times,' she said. 'The truth twisters are not telling us of the trillion plus of taxpayers' dollars net zero will cost, or the further trillion businesses will have to pay for net zero. 'We all lose when soaring energy prices damage our lives and competitiveness.' Business investment has declined in Australia over the past year amid rising costs, high levels of uncertainty and decelerating demand. Private capital expenditure was 0.5 per cent lower in the March 2025 quarter compared to the same period a year earlier, according to data from the Australian Bureau of Statistics. The Albanese government's Climate Change Bills passed the Senate in 2022, bringing into law a net zero emissions target by 2050.
Associated Press
21-06-2025
- Business
- Associated Press
The Panel Company Going Green for the Planet Lawcris Levels Up Their Sustainability Practices
LEEDS, GB / ACCESS Newswire / June 21, 2025 / For companies across the globe, sustainability practices are increasing in importance, with global warming becoming an ever looming reality. For West Yorkshire-based panels company Lawcris, sustainability has been on their radar for years. With a policy that continues to develop their contribution to reducing carbon emissions, reducing waste and sourcing timber and non-timber related products responsibly, Lawcris have also introduced solar panels to their main site. The Power of Sunshine With the UK aiming to reach net zero emissions by 2050, a greater proportion of the grid's energy now comes from renewable sources rather than fossil fuels. Lawcris' commitment to producing renewable energy to be used and also given back to the grid cements their status as a company who is forward thinking about sustainability. 'Lawcris has made significant progress over recent years to improve the sustainability element of the business. Solar Panels support our Grid supply of electricity which is already zero carbon, and we have also accredited to ISO 14001 standard for our overall environmental management. We will continue to develop our environmental approach in support of a Net Zero target and to ensure that we are seen by all our stakeholders as being proactive in this area.' Lauren Barker, Marketing Manager Innovating Green Solutions in Business This is far from Lawcris' first rodeo with sustainability, and they are a force dedicated to providing innovative solutions for sustainability under their own roof. Currently, they have a biomass heating facility installed at their site in Leeds, less than 1% of their waste going to landfill, as well as promoting green alternative transport services to their staff. If you want to learn more about how Lawcris are pioneering sustainability in the panels industry, you can visit About Lawcris Established in 1982 in Wakefield, England by Chris Hopton and Simon Hall, Lawcris has vastly outgrown its humble beginnings. Focused on supplying the best quality panels, the business operates to the highest standards as one of the biggest decorative panel suppliers in the UK. Media Contact Organization: Lawcris Contact Person Name: Matthew Hines Website: Email: [email protected] Contact Number: +441132177177 Address: Knowsthorpe Gate, Leeds, West Yorkshire, LS9 0NP City: Leeds Country: United Kingdom SOURCE: Lawcris press release
Skift
19-06-2025
- Business
- Skift
Wizz Air Cuts Emissions Per Passenger, But Climate Impact Is Rising
Wizz Air's path to net zero is paved with low-emissions aircraft and ambitious targets. But without breakthroughs in sustainable fuel and supportive regulation, the airline and the wider industry may fall short of climate goals. Wizz Air, a Hungarian low-cost carrier, has cut emissions per passenger to some of the lowest levels in the industry. But as the airline rapidly expands, its overall climate impact is rising, with total emissions more than doubling since 2019. In its latest sustainability report for the year ending March 2025, the low-cost airline said its carbon intensity - a measure of emissions per passenger - fell to 52.2 grams of CO₂ per passenger-kilometer. That's lower than many of Wizz's rivals and the airline credits the low level to investment in part to more fuel-efficient aircraft. Low-cost carriers like Wizz, Ryanair and EasyJet tend to have lower emissions per passenger than traditional airlines because they carry more people per flight. No business class, fewer empty seats, and tight cabin configurations all mean more passengers are sharing each litre of fuel. In 2024, EasyJet reported 66.64 grams per passenger kilometre on average, while Ryanair averaged around 64 grams. Fleet Strategy vs. Emissions Reality Wizz added 26 new Airbus A321neo jets over the year, bringing its total fleet to 231 aircraft. Most of those are NEO models, which are significantly more fuel efficient. Wizz said it aims to operate an all-NEO fleet by 2029. 'Our emissions per passenger remain among the lowest in the industry,' said Yvonne Moynihan, Wizz Air's Corporate and ESG Officer. 'This underscores our commitment to minimizing environmental impact on a per-flight basis.' Because of the growth, despite carbon intensity improvements, Wizz Air's absolute emissions have nearly doubled since 2019, a reminder that efficiency alone doesn't equate to sustainability. Moynihan attributed the rise to rapid expansion under Wizz Air's 'WIZZ500' vision, which targets a doubling of the fleet by 2033. 'This growth contributes to higher overall emissions,' she said. 'But we emphasize carbon intensity per passenger-kilometer as a more relevant metric for assessing environmental impact.' Long-Term Net Zero Strategy Wizz Air reiterated its ambition to reduce their emissions to almost zero by 2050. The company said that this is structured around three pillars: Aircraft fleet renewal: This will account for 30% of the planned reduction. Sustainable aviation fuel (SAF): 53% of total fuel use by 2050. Air traffic management and operational improvements: To help reduce emission by 4%. Moynihan acknowledged that deeper emissions cuts will depend on scaling up SAF, which remains marginal across the industry. Wizz has not disclosed the current share of SAF in its operations. 'We are actively pursuing fleet renewal and operational efficiency,' Moynihan said. 'But broader reforms are needed across the industry to ensure success.' Skift's in-depth reporting on climate issues is made possible through the financial support of Intrepid Travel. This backing allows Skift to bring you high-quality journalism on one of the most important topics facing our planet today. Intrepid is not involved in any decisions made by Skift's editorial team.
