LONDON (Reuters) – Green hydrogen, low-carbon aviation fuel and electric trucks are among 55 clean technologies that can help the European Union to reach its goal of climate neutrality by mid-century, research by Capgemini Invent, part of Capgemini Group, showed on Wednesday.
The research, which aims to provide a guide for policymakers and investors, identified technologies and projects the EU could invest in using money from its budget and recovery fund to help the region’s economies bounce back from the coronavirus crisis.
The research looked at 200 projects and chose 55 technologies as “ripe for investment” that could deliver results quickly and at scale up to 2030 and 2050.
Combined, they could create a market of net-zero goods and services totalling up to 790 billion euros ($933 billion) a year and reduce emissions by 871 million tonnes.
The technologies will require around 144 billion euros of public and private investment a year and support 12.7 million jobs but for every 1 euro invested in this portfolio, it could generate 9 euros of future turnover in European markets by 2050.
The projects chosen include: solar module gigafactories; large-scale floating offshore wind; large-scale green hydrogen production; grid development to enable 100% renewable power; direct carbon capture technology, the report said.
For the industrial sector, projects include materials to replace concrete; green hydrogen production in refineries, carbon capture for steel manufacturing, switch to low-carbon fuels for heat industry processes.
For transport, projects include giga-scale production facilities for low-carbon fuel production for aviation, green ammonia-fuelled vessels and infrastructure for shipping, electrification of trucks and electric vehicle charging infrastructure.
In July, the European Commission unveiled a 750 billion euro fund to aid recovery from the pandemic, which was in addition to a more than 1 trillion euros package of long-term budget. Of the combined 1.83 trillion, 30% is earmarked for climate goals.
(Reporting by Nina Chestney. Editing by Jane Merriman)
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
