Enhanced steps towards green policies from governments and eco-friendly products from corporations linger notwithstanding the prevalent unpredictability in the energy sector.
The Green Policy Race Big Picture
- United Kingdom’s Prime Minister, Boris Johnson, inducted to opt for economical and affordable energy to assist alleviate the agony of increasing prices, Reuters reported.
- Banks witnessed USD 3.4 billion investments from green-labelled bond auctions and finances in contrast to the USD 3.3 billion from their work with oil, gas, and coal companies in 2021, reported Bloomberg.
This highlights the foremost time since the release of the Paris agreement dating back to 2015 (which concentrates on limiting global warming to below 2 degrees Celsius) showing green debt fees go beyond fossil fuel corporations financing.
Estimations from 2020 portray that green emolument has accumulated to USD 1.9 billion, whilst fossil fuel funding was as much as USD 3.7 billion.
Through a Macro Lens
- Daimler, a German international automotive corporation, has released an electric vehicle concept car, dubbed the Vision EQXX, that is anticipated to range up to 1000 kilometres (621 miles) for a single charge, CNBC reported.
The firm revealed that the automotive is fabricated by 117 solar cells used on the roof and a green material (leather’s substitute), called ‘Mylo’ make up the innards of the vehicle. - Electric services company, Korea Zinc, induces USD 50 million in Swiss-based energy storage corporation, Energy Vault, reported Reuters.
This arrives as Korea Zinc has taken over a solar and wind farm developer in Australia and is brainstorming to use Energy Vault’s resources and technology to decarbonize operations and facilitate green energy in its plant. - Indian city Ghaziabad receives the foremost troop of 15 electric buses in the city, according to a Reuters report.