"When it comes to illegal fishing, London’s ancient business of ship insurance may not get much attention. But according to a new complaint, the UK capital’s insurance industry is partly to blame when fishing vessels “go dark” at sea by turning off their mandatory satellite tracking equipment."
Economy & Business
"Global spending on electric vehicles is surging. According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before."
"It’s the end of an algal era: Exxon is backing out of a biofuel effort that the company has for years centered as part of its work in clean energy."
"Ford Motor Co. announced Monday it will build a $3.5 billion electric vehicle battery plant in Michigan that uses Chinese technology, a move the company believes will bolster its ability to take advantage of President Joe Biden’s landmark climate law."
"Climate commitments by companies aren’t always as green as they seem. A new report concludes major brands are exaggerating how ambitious their efforts to cut greenhouse gas emissions are — in effect misleading consumers, investors and governments."
"While the big five oil companies registered record profits on the back of the energy crisis, relatively little will be reinvested in renewables as climate goals are slashed."
As part of our 2023 Journalists’ Guide to Energy & Environment special report, we’ve got highlights from last week’s reporter panel on the year ahead, led by #SEJ2023 conference co-chair Tom Michael (pictured, left). The focus was largely on the U.S. West, where challenges abound over issues like equitable siting of renewable energy infrastructure, regulating natural gas, managing wildfires and addressing the health consequences of climate-driven heat waves. Read our account, plus check out the full 2023 Guide.
"The Biden administration on Thursday announced that it would issue a $2 billion loan to a battery manufacturing facility as it looks to bolster the country’s supply chain for electric vehicles."
"BP’s chief executive, Bernard Looney, said on Tuesday that the company would pare back its plans to reduce oil and gas production in the coming years, a move that would result in higher-than-expected carbon emissions."