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Japanese conglomerate Hitachi announced a series of updates to its long-term environmental targets, including setting a new goal to achieve net zero greenhouse gas (GHG) emissions across its value chain by 2050. The new net zero goal represents a more ambitious target than the company’s prior goal to achieve carbon neutrality across the value chain by 2050, expanding its initiative to encompass all GHG emissions. Hitachi added that it will contribute to decarbonization by offering high-efficiency products, innovative services and future technologies. Hitachi also announced that its new 2050 emission reduction targets have been validated by the Science Based Targets…

$1B revenue goal by 2030: New unit TMGX aims for a 10% share of the $10B global green insurance market. $500M single-risk coverage: TMGX will offer high-limit coverage for decarbonization projects, including hydrogen, nuclear, and EVs. Creative risk solutions: Tokio Marine is pioneering products like tax credit insurance to unlock financing and lower borrowing costs. Tokio Marine, Japan’s largest property and casualty insurer, has launched a new green insurance unit—Tokio Marine GX (TMGX)—with a bold target: $1 billion in revenues by the end of the decade. The unit will focus on providing insurance and advisory services for companies transitioning to…

The value of Russian crude oil exports have sunk in May to the lowest level in over two years, data on shipments and Russian crude prices compiled by Bloomberg showed on Wednesday.The volume of Russian crude oil exports in the four weeks to May 25 barely changed from the previous four weeks to May 18, but the value of the shipments dropped to the lowest level since April 2023, according to the data reported by Bloomberg’s Julian Lee.In the four weeks to May 25, Russia exported on average 3.39 million barrels per day (bpd) of crude oil, per tanker-tracking data…

Hawaii’s governor signed legislation that boosts a tax imposed on hotel room and vacation rental stays in order to raise money to address the consequences of the climate crisis.It’s the first time in a government in the US imposes such levy to help cope with a warming planet.Officials estimate the tax will generate nearly $100m annually. The money will be used for projects such as replenishing sand on eroding Waikiki beaches, promoting the use of hurricane clips to secure roofs during powerful storms and clearing flammable invasive grasses like those that fueled the large wildfire that killed 102 people on…

Major Renewable Infrastructure: A joint utility-scale solar and battery project will power Indonesia’s green industrial complexes and support energy exports to Singapore. Government-Backed Deal: The Co-Investment Agreement was signed at the Presidential Palace with the endorsement of Indonesian President Prabowo and French President Macron. Strategic Energy Transition Play: The project aligns with Indonesia’s national strategy and the ASEAN Power Grid vision, strengthening regional energy security and workforce development. RGE and TotalEnergies have formalized a Co-Investment Agreement to develop, build, and operate a solar photovoltaic (PV) plant with integrated battery energy storage in Indonesia’s Riau Province. The project will be executed…

Microsoft boosts its carbon removal strategy with a major soil-based credit purchase, bringing its total from Indigo Ag to 100,000. The transaction supports regenerative agriculture, channeling tens of millions of dollars to U.S. farmers. The deal highlights growing corporate confidence in soil carbon as a scalable and verified climate solution. Microsoft has acquired 60,000 soil carbon credits from Indigo Ag, its largest such purchase to date. This follows a previous buy of 40,000 credits, signaling continued momentum in Microsoft’s push for diversified carbon removal solutions. The credits, issued in April by the Climate Action Reserve, are part of Indigo’s fourth…

By Thomas Blade & Maud Zaba Published on 29/05/2025 – 17:58 GMT+2ADVERTISEMENTTotal energy in the EU, what Eurostat calls gross available energy, fell by 4.1 % in 2023, the equivalent of about 380 million barrels of oil, marking a record low. Long-running efficiency policies have reduced waste across all sectors, while milder winters have decreased heating demand. The spike in fossil fuel prices caused by Russia’s full-scale invasion of Ukraine has prompted additional conservation efforts. Put simply, Europe is managing to do more with less.The EU is still heavily reliant on fossil fuels (67%), but renewables now supply 19.5% of all energy…

Near-Target Emissions Cuts: EU is on track to cut net GHG emissions by 54% by 2030—just 1% shy of its legally binding 55% target. Industrial and Energy Sector Gains: Strong progress in renewables and industrial decarbonisation are driving momentum, aided by initiatives like the Clean Industrial Deal. Lagging Sectors Pose Risks: Agriculture and transport remain major gaps, with political resistance and natural disasters undermining land-based carbon sinks. The European Union is closing in on its 2030 climate and energy targets, according to the European Commission’s latest assessment of Member States’ National Energy and Climate Plans (NECPs). Improved national commitments put…

The Trump administration issued a stripped-down license to Chevron Corp. to remain in Venezuela, allowing the company to conduct minimal maintenance on equipment but prohibiting it from producing oil in the sanctioned South American nation.  The waiver granted Tuesday by the Treasury Department is similar to the one the company operated under during President Donald Trump’s first term, according to a person familiar with the decision who asked not to be identified. Bloomberg News reported Friday that Chevron would receive the license.  This new license was issued just as a previous one, which required Chevron and other oil majors to wind down…

87% of institutional investors maintain ESG objectives, with 84% anticipating sustainability progress will accelerate through 2030. 59% are pivoting to thematic ESG investing, targeting energy transition, low-carbon assets, and active ownership. Private capital firms are emerging leaders, intensifying focus on social issues, just transition, and portfolio decarbonisation. Institutional investors remain firmly committed to sustainable investing—but with sharper focus and strategic intent. According to BNP Paribas’ 2025 ESG Survey, 87% of institutional investors say their sustainability goals remain unchanged, and 84% expect the pace of ESG progress to continue or accelerate by 2030, despite a more cautious communication approach. “The vast…