Low-carbon economy

Motor Oil buys into solar energy company

Motor Oil on Friday announced the acquisition of 75% of Unagi AE, which operates in the photovoltaic sector.

In particular, Unagi owns a 51% share in a portfolio of photovoltaic projects at various stages with a total nominal capacity of 1.9 gigawatts in Greece and the transaction was made through the subsidiary Motor Oil Renewable Energy (MORE).

Solar investment outshines oil: IEA

Investment in solar power is expected to overtake oil for the first time this year as clean energy spending outpaces that for fossil fuels, the International Energy Agency (IEA) said in a report yesterday. 

While that is a welcome development, warned the IEA that investment in fossil fuels is rising when it should be falling fast to achieve net zero emissions by 2050.

Democracy Digest: Friends of Zeman Benefit from Swanky Villas at Ridiculous Rents

The state of the Czech environment is among the worst in the EU, and inferior to all of its Visegrad peers, according to the 2023 Prosperity Index, published on Tuesday. High greenhouse gas emissions, poor efficiency, drought and rising volumes of waste helped push the Czech environment down into 22nd place out of the 27 member states.

EU countries approve 2035 phaseout of CO2-emitting cars

European Union countries gave final approval on Tuesday to a landmark law to end sales of new CO2-emitting cars in 2035, after Germany won an exemption for cars running on e-fuels.

The approval from EU countries' energy ministers means Europe's main climate policy for cars can now enter into force - after weeks of delay caused by last-minute opposition from Germany.