NEWS - SUSTAINABLE BUSINESS
Research shows that Britain may see massive boost from the continuing fall in global oil prices.
The decline of oil prices could give the UK economy a huge growth boost, according to research from Oxford Economics. The report estimates that a collapse to $40 per barrel in early 2015 could add around 0.6 percentage points to the overall GDP growth in the UK.
Recently the price of Brent Crude oil, the international standard for tracking oil prices, fell to a new six-year low around $48.50. Since June 2014, the price of oil has plummeted by more than 50 per cent and this dizzying descent has analysts predicting prices as low as $35 per barrel.Read more >>
British Telecoms will use all the energy from a new solar farm to operate its research campus.
More and more big companies are demonstrating their commitment to sustainability by adopting green energy policies and actively seeking out opportunities to move to greener ways of working. British Telecom (BT) has just said it plans to use green energy to power its huge research campus in Suffolk.Read more >>
John D. Rockefeller’s heirs are pulling their money out of fossil fuel investments and going green.
John D. Rockefeller’s name has passed into legend. Synonymous with his massive oil wealth, he has become an almost mythical figure in the history of the US. So it’s all the more significant and symbolic that his heirs are going green.Read more >>
A report from KPMG has highlighted the importance of corporate social responsibility in adding and maintaining business value.
Businesses have often been tempted to see corporate social responsibility as little more than a public relations stunt. Intended to win over the public, activities that are aimed at adding value to communities rather than directly benefiting the companies themselves can all too easily be treated like vanity projects.
But as a recent KPMG report found, businesses need a better understanding of how they contribute to society at large in order to create corporate value of their own. So how are firm’s corporate and societal value linked?Read more >>
Management consultancy Von Essen has identified a top class of oil and gas contractors earning as much as £1,500 per day.
Oil and gas is a sector suffering from serious skills shortages. Although that causes problems for businesses, it’s also good news for skilled professionals who can command higher pay to fill that void. According to consultancy firm Von Essen, some contractors have exploited this opportunity so successfully that they can now earn as much as £1,500 for a day’s work.Read more >>
Competition could be improved in the energy market if cities invested in their own green energy, a new report says.
There has been plenty of talk in recent months about competition in the UK energy market – or the alleged lack of it. The ‘Big Six’ energy companies account for the vast majority of the nation’s customers and with prices continually rising, an official investigation by the Competition and Markets Authority is currently under way.
But a new report from the think-tank the Institute for Public Policy Research (IPPR) argues that there is another way to increase competition – by encouraging cities and local authorities to invest in producing green energy themselves.Read more >>
A new report has set out the potential negative business consequences of climate change in the US.
Climate change has been a difficult issue for many businesses, caught between a dependence on fossil fuels and the demand for more sustainable ways of operating. A new report compiled by political and business figures from the US has highlighted the potential cost to companies of failing to take action.
The bipartisan Risky Business report uses what it describes as a “standard risk-assessment approach” to identify the potential consequences of inaction on key areas. It focuses on damage to coastal areas from increased storm surge and rising sea levels, changes to agricultural production that will come from an altered climate, and how higher temperatures will affect public health and the productivity of the US workforce.Read more >>
The Green Investment Bank plans to launch £1 billion to encourage private investors to support UK offshore wind farms.
The UK’s state-funded Green Investment Bank (GIB) has said that it plans to raise £1 billion for a fund that will encourage private investors to back offshore wind farms around the UK.
GIB says that it is looking for strategic investors to work with on a long-term basis to participate in the capital raising exercise, with the proceeds being used to purchase stakes in a number of operational offshore wind projects. The new fund will be managed by a subsidiary of GIB that will seek permission from the Financial Conduct Authority to be considered a regulated fund manager.Read more >>
The bidding war for Alstom’s energy assets appears to be over, and General Electric is the winner.
The long-running bidding war to take control of French industrial giant Alstom’s energy assets has ended – and General Electric (GE) is the winner.
On 22 June, BBC News reported that Alstom’s board had voted unanimously to accept an offer from the US firm worth as much as $16.8 billion (£9.9 billion). Although it still needs to be approved by both Alstom’s employee representatives and regulatory bodies, it certainly looks as though the bid will go through.Read more >>
A number of big companies are competing to take over French firm Alstom’s energy assets.
Alstom is one of France’s top industrial companies, so the idea of a foreign takeover was always going to be sensitive for both the government and large sections of the public. But as the fierce bidding war to acquire it has heated up, even president François Hollande has found himself getting more closely involved.
The French government is expected to decide on its preferred bidder at some point this weekend, and executives at the company have until Monday to decide between the competing bids of US firm General Electric (GE) and the joint bid of German giant Siemens and Japan’s Mitsubishi Heavy Industries.Read more >>
A new report shows that meeting the world’s energy needs could come at a much higher cost than most people might have imagined.
As the population grows and developing economies become more industrialised, the world’s energy needs are increasing every day. Yet governments are keenly aware that fossil fuels will run out eventually, and pressure is rising to make renewable energy more common and affordable.
But a new report from the International Energy Agency (IEA) indicates that meeting the world’s energy needs might be even more costly than we thought.Read more >>
Rolls-Royce is selling some of its energy assets to Siemens for £785 million, it has been confirmed.
Siemens is solidifying its position in the energy market by purchasing assets from Rolls-Royce in a deal worth £785 million. The German company has confirmed that it will acquire the gas turbine and compressor business from Rolls Royce Energy in a transaction due to be completed by the end of the year.
But the deal will also have implications over the long term.
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British Airways is planning to break new ground by running flights powered by rubbish. The airline is hoping to change the face of travel and improve its carbon footprint by running flights powered by landfill waste.
The company has announced that it is partnering with Solena Fuels to build a specialised facility that will convert rubbish into airline fuel – the first of its kind in the world. Due for completion in 2017, the plant will create up to 150 permanent jobs on top of the 1,000 workers who will be required to build the site itself.
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UK Coal is seeking government support to keep itself afloat. But even if it survives, does the struggling company really have a future?
Since the large-scale closures of the 1980s, the UK’s mining industry has been a shadow of its former self, while the country has become more dependent on foreign imports of fuels to keep its power stations running. But the country’s largest remaining coal miner is now on the brink of collapse once again.
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UN experts have released a new report highlighting the serious consequences of man-made climate change.
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