The Formula 1 team of automotive giant Mercedes has signed a carbon credit prepurchase agreement with US afforestation company Chestnut Carbon. Under the agreement, Chestnut will remove 5,500 tonnes of CO2, delivering carbon dioxide removal (CDR) credits to the Mercedes-AMG PETRONAS F1 Team in the period between 2027 and 2030.This partnership falls in line with the sustainability ambitions of the Mercedes F1 team, as they work towards the goal of ‘Race Team Control Net Zero by 2030.’On their climate-forward journey, the team’s primary focus will be to reduce CO2 emissions, relying on CDR initiatives for addressing the residual, hard-to-abate emissions.Alice Ashpitel,…
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Image source: Getty Images It wasn’t a good Valentine’s Day for shareholders in John Wood Group (LSE:WG.), the FTSE company that describes itself as “a global leader in consulting and engineering across energy and materials”. On 14 February, its shares closed 55.6% lower, at 29p, after the company released a trading update. It caps a miserable period for investors. On 5 August 2024, the stock fell 35% after a takeover for the company fell through. Three months later, on 7 November 2024, the shares fell 60% after the firm said it had experienced a “mixed quarter” and announced an independent…
“The energy and digital transition will devastate the environment in untold ways. Ultimately, the environmental price of building this new civilization is so staggering that there is no guarantee you will succeed. Your power has blinded you to the point that you have lost the humility of the sailor before the ocean, the climber before the mountain. You forget the Earth will always have the final say.” — Guillaume Pitron, The Rare Metals War Renewable and green energy are all the rage. Fueled by climate change and other environmental concerns, environmental, social, and governance (ESG)-focused funds reached $3.9 trillion in…
Release Date: February 14, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Group adjusted profit increased by 44.9% year-on-year to JPY102.1 billion, surpassing initial forecasts. Sales results of new policies for all three life insurance companies progressed favorably, leading to an upward revision of the full-year forecast. Value of new business increased by JPY1.6 billion year-on-year, with forecasts revised upwardly. Group MCEV increased by 5.5% from the previous fiscal year, indicating strong financial health. The company expects to achieve its long-term vision target of JPY130 billion in group adjusted profit one…
BEIJING, CHINA – FEBRUARY 5: Chinese President Xi Jinping attends a meeting with Pakistani President Asif Ali Zardari (not pictured) at the Great Hall of the People on February 5, 2025 in Beijing, China. Wu Hao | Getty Images News | Getty ImagesChinese President Xi Jinping delivered a speech at a closed-door symposium with prominent entrepreneurs on Monday, according to state media, signaling support for the private sector at a time when the country’s economy has been facing several headwinds.Xi’s presence at the symposium sends a “very clear signal of top-level support” to entrepreneurs, Peiqian Liu, Asia economist at Fidelity International…
Image source: Getty Images Last Thursday (13 February), Alibaba confirmed it would be partnering with Apple (NASDAQ:AAPL) with regards to artificial intelligence (AI) features for iPhones in China. Both stocks rose as a result, with Apple up 6% in the past week. I don’t think the news got enough attention, as this could be a really big deal for both companies. Here’s why. The background Apple’s been struggling in China over the past couple of years. For example, it experienced a 17% decline in annual smartphone shipments in China in 2024. This was the largest fall since 2016. Apple hasn’t…
Image source: Getty Images Over the long term, Tesla (NASDAQ: TSLA) shares have been a phenomenal investment. If an investor had bought them five years ago, they’d now be sitting on a gain of over 550% (in US dollar terms) – a magnificent return. Recently however, the shares haven’t performed so well. In fact, if an investor had bought them two months ago – when Tesla’s share price was close to its peak – they’d now be sitting on a huge loss. The shares have tanked On 17 December 2024, the shares closed the day at $480. Let’s say that…
ASTANA – The Astana International Financial Centre (AIFC) recommends key reforms to enhance Kazakhstan’s carbon regulation system, including the paid allocation of carbon allowances, expanding emissions trading platforms, and creating a carbon fund in a report published on Feb. 17. Photo credit: Getty Images “International experience demonstrates that emissions trading systems (ETS) in developed and industrially emerging countries operate on a model of the partial distribution of allowances through auctioning, which helps establish a market price for carbon,” reads the report. Fig. 1. Key Carbon Market Indicators by country. Photo credit: aifc.kz Kazakhstan’s ETS (Kaz ETS), launched in 2013, covers…
China’s President Xi Jinping has attended a symposium on private enterprises, official news agency Xinhua said on Monday (February 17, 2025), a rare move that comes as Beijing grapples with a slowing economy and growing tensions with the United States. The Xinhua report said Mr. Xi delivered a speech after listening to representatives of private companies. The report did not provide any details about the symposium, held in the Great Hall of the People in Beijing, including who the attendees were from private enterprises. Reuters reported on Friday (February 14, 2025), citing sources, Mr. Xi planned to chair a symposium…
Image source: Getty Images The first month of President Trump’s term has been partly focused on announcing trade tariffs on other nations. Yet the ambiguity around how these will be implemented, along with the changing rhetoric from him, has provided a high level of volatility on both the US and UK stock markets. Yet even in just a short period of time, something has caught my eye as to why I feel the trade policy won’t cause a stock market crash. Buying the dip We’ve had three dips on the S&P 500 so far in relation to tariffs. The first…