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Munich Re, one of Europe’s largest insurance companies, and the world’s biggest reinsurer, announced that it has chosen to withdraw from a series of climate-focused industry coalitions, including the Net Zero Asset Owner Alliance (NZAOA), the Net Zero Asset Managers Initiative (NZAM), Climate Action 100+ (CA100+) and the Institutional Investors Group on Climate Change (IIGCC), citing legal and regulatory pressures and climate disclosure complexity. Despite exiting the climate groups, however, the firm reiterated that “climate protection remains an urgent priority for Munich Re,” and that it will independently “continue to pursue our goal of contributing to the achievement of the…

VinFast has launched an electric taxi service in the Philippines. The company offers zero-emission rides under its Green GSM brand. The service will operate in ten of the 16 cities and districts that make up Metro Manila. The new fleet will be made up entirely of VinFast Nerio Green EVs, the commercial version of the VF e34 sub-compact SUV. These Vietnam-made BEVs utilise a 110kW electric motor and a 42kW lithium battery, with a range clocking in at around 285km on one charge. Each vehicle is equipped with a Secure to Safe (S2) monitoring system which provides real-time monitoring and…

India’s natural gas consumption is likely to rise by close to 60 per cent by 2030 and more than double by 2040, on the back of rise in usage of the fuel as CNG in automobiles and for cooking and industrial purposes, according to a study by oil regulator PNGRB.Consumption of natural gas, which is used to produce electricity, make fertilizer or turned into CNG for running automobiles and piped to household kitchens for cooking, is expected to rise from 187 million standard cubic metres per day in 2023-24 to 297 mmscmd by 2030 under ‘Good-to-Go’ scenario, the study by…

Toyota and Daimler have officially agreed to combine their truck divisions, bringing Hino Motors and Mitsubishi Fuso together under one company. The two brands will work together on electric and hydrogen trucks, aiming to help fleets meet stricter emissions rules and keep up with changes in freight transportation. What’s RelatedThe companies signed definitive agreements on June 10, confirming that the new joint venture will be owned equally by Toyota and Daimler Truck. The combined company will focus on electric and hydrogen-powered trucks and other technologies to help fleets move goods more efficiently and with fewer emissions. In a joint statement,…

Southeast Asia could unlock up to 25 gigawatts (GW) of renewable energy generation and over $40 billion of investment in hydropower, solar and offshore wind if all proposed interconnections with Singapore are realized, according to research by Rystad Energy. “Singapore is well-positioned to become a green power hub, serving as a central node for regional interconnections with cross-border neighboring nations”, the energy intelligence firm said. “Importing electricity through the regional grid presents a cost-effective solution for the island-nation and could result in emissions reductions of up to 13 million tonnes of carbon dioxide equivalent per year if all projects are…

New Delhi: Switching to cleaner fuels such as electric vehicles (EVs), liquefied natural gas (LNG), and biodiesel in India’s mining sector could reduce emissions by up to 25 per cent and diesel consumption by 30 per cent , according to a study by the Federation of Indian Mineral Industries (FIMI). The study highlights the potential of alternative vehicle technologies in reducing environmental impact in non-coal mineral extraction and handling operations.The report, prepared in collaboration with the Ministry of Mines and the Council on Energy, Environment and Water (CEEW), assesses the adoption of low-emission heavy-duty vehicles (HDVs) for bulk material movement…

Iveco Bus has inaugurated a new prototype and testing centre at its Vysoké Mýto facility in the Czech Republic. The site has been designed to accommodate all types of powertrains, including battery-electric and hydrogen-powered vehicles. The two-storey facility now offers double the previous workspace, spanning 4,100 square metres, and can handle prototypes up to 18 metres in length, according to the company. It includes twelve dedicated workstations, each equipped with overhead platforms to enable ergonomic access to the vehicle roofs—where battery packs and hydrogen tanks are typically located in buses. The new testing centre also features a thermal chamber, where…

CaetanoBus launched a new generation of electric buses in 8.5, 12, and 18-metre variants. All three sizes are available with a battery-electric drive, while the 12- and 18-metre models are also offered as hydrogen-powered vehicles. The key drivetrain components now include new suppliers. The Portuguese manufacturer expanded its urban bus portfolio and revised its powertrain configurations. For the first time, all zero-emission buses in the new generation will be equipped with LFP batteries from CATL, replacing the previously standard NMC cells. Additionally, CaetanoBus is switching from Siemens to a CRRC motor for its battery-electric (BEV) and hydrogen fuel cell electric…

At 10:54 GMT, Light Crude Oil Futures are trading $65.93, up $0.95 or 1.46%. OPEC+ Output Rises, But Domestic Demand May Absorb Extra Supply OPEC+ plans to raise production by 411,000 barrels per day in July, marking a fourth consecutive monthly increase. Yet analysts say the impact on global supply could be muted. Saudi Arabia and other OPEC+ members are likely to see increased domestic demand during summer months, helping absorb the added barrels. According to Capital Economics, this internal consumption may support prices in the near term by offsetting the supply increase. U.S.-China Trade Truce Lifts Risk Appetite—But Demand…

After more than two years of negotiations, the agreement is final. Daimler Truck and Toyota will merge their Japanese commercial vehicle subsidiaries, Mitsubishi Fuso and Hino Motors. The newly formed holding company is set to launch in April 2026. Daimler Truck and Toyota Motor Corporation first announced their intention to integrate Mitsubishi Fuso and Hino Motors as equal partners in May 2023. The aim of this close collaboration is to enhance operational efficiency across development, procurement and manufacturing – including in the ongoing electrification of both product portfolios. The finalised agreement includes the formation of a new holding company to…