News
During his keynote address at the Council for Geoscience (CGS) Summit, held at the Durban International Convention Centre from October 25 to 27, Minerals and Energy Minister Gwede Mantashe expressed his belief that coal could “reinvent itself”, given sufficient investment.
Mantashe cited the CGS’s lead role in the pilot carbon capture, utilisation and storage project in Leandra, Mpumalanga. The project, which is expected to become operational in early 2024, will test the feasibility of injecting between 10 000 t to 50 000 t of carbon dioxide a year, to a depth of at least 1 km. – October 25, 2022
Russia continues to press its allegation that Ukraine plans to use a so-called “dirty bomb” on its own territory, and says it will take it up with the United Nations. Ukrainian and Western officials have denounced the claim as a “pretext for aggression.”
Kyiv has requested a team from the U.N.’s watchdog agency to inspect its nuclear power facilities in order to disprove Moscow’s claims. A “dirty bomb” is made to contaminate a large area with radioactivity, making it harmful or uninhabitable for residents there, without using a nuclear explosion. Meanwhile, a Russian court denied WNBA star Brittney Griner’s appeal after the American athlete was convicted on drug charges earlier this year. – October 26, 2022
Southern African nation seeks funding partners for plant
Renewables to balance use of fossil fuel, energy minister says
Botswana is seeking to secure funding partners for a $2.5 billion plant to produce synthetic fuels from coal, a plan rekindled by the energy crisis playing out in Europe, according to its energy minister.
The southern African nation has for nearly a decade discussed tapping its extensive coal resources to produce fuels to displace costly imports. That would follow the example of neighbor South Africa, which developed coal-to-liquids technology through Sasol Ltd. Government efforts to realize the project have accelerated since Russia’s invasion of Ukraine. – October 24, 2022
Banks, funds financing coal even after climate pledges
Report finds $1.5 trillion of coal finance since start of 2019
The dirtiest fossil fuel is still raising trillions of dollars of funding, despite finance industry pledges to back net zero carbon targets by the middle of the century.
Commercial banks have channeled more than $1.5 trillion across the coal supply chain since the start of 2019, according to a report from German researcher Urgewald and its partners. The findings come just over three months after dozens of banks joined Mark Carney’s global alliance to achieve net-zero emissions from finance. – February 14, 2022