The divestment of European banks from fossil fuels projects is slowly but gradually gathering pace, a director at BlackRock, the US investment management firm, said at the Flame Conference in Amsterdam.
Poland is betting on offshore wind to reduce its dependence on coal and strengthen energy security. The regulatory framework adopted last year has boosted investor confidence and the first fixed-bottom installations in the Baltic Sea are expected to be up and running by the middle of the decade.
While Europe is partly accelerating low-carbon programmes to wean itself off Russian energy in the light of the Ukraine war, the picture in Asia is more mixed, with many still associating reliable energy with fossil fuels.
Saudi Aramco says it hopes to achieve net zero SCOPE-1 and SCOPE-2 greenhouse gas emissions across its fully owned operations by 2050, but warns that achieving this in less than three decades will not be easy.
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