Energy

Bloomberg An ambitious pledge to cut greenhouse-gas emissions under consideration by the US gives President Joe Biden more leverage when he hosts leaders for a climate change summit later this month — presenting a particular challenge to China’s Xi Jinping. The White House may commit to emissions cuts of 50% or more from 2005 levels by 2030, Bloomberg reported this …

Bloomberg Pioneer Natural Resources Co is buying DoublePoint Energy LLC in a deal valued at $6.4 billion, less than three months after completing its purchase of fellow shale driller Parsley Energy Inc. as it expands in the US Permian Basin. The deal is comprised of approximately 27.2 million shares of Pioneer common stock, $1 billion of cash and assumption of …

Bloomberg Vinci SA’s move to buy a core business of Spain’s Actividades de Construccion y Servicios SA for about 4.9 billion euros ($5.8 billion) will turn the French infrastructure giant into a global player in renewable energies. The deal that was more than six months in the making expands Vinci’s reach into Spain and Latin America, according to a statement. …

Bloomberg India’s environment ministry delayed anti-pollution guidelines for coal-fired power plants further, extending the compliance deadline by as long as two years. Plants located close to populated cities, including capital New Delhi, will now have to meet the standards by December 2022, a seven-year extension from the original plan to cap toxic emissions, including particulate matter, sulfur dioxide and oxides …

Bloomberg KKR & Co agreed to pay $3.37 billion for a 20% stake in a Sempra Energy unit comprising the US company’s infrastructure assets, including a liquefied natural gas project and a Mexican renewables and pipelines operator. It’s the latest example of a broader push among US utilities eschewing diversification to focus on providing electricity and gas to homes and …

Bloomberg China is strengthening efforts to clean up one of the dirtiest corners of its economy, and now plans for its mammoth steel industry to reach peak emissions within four years. The nation aims to hit peak carbon emissions before 2025, and reduce them by 30% by 2030, according to a WeChat post by the China Metallurgical Industry Planning and …

Bloomberg ProLogium Technology Co., the Taiwanese solid-state battery maker, is considering going public later this year, people with knowledge of the matter said. The company is holding talks with potential advisers about options including listing in the US through a merger with a special purpose acquisition company, according to the people, who asked not to be identified because the information …

Bloomberg The Association of Southeast Asian Nations (Asean) is seeking to establish a framework for green investments in the region that could be worth as much as $3 trillion. The countries set up the Asean Taxonomy board this week, which will develop and maintain a set of categories and definitions to guide its members on sustainable economic activities, according to …

Bloomberg South Africa, the world’s 12th biggest producer of greenhouse gases, has committed to improving its target for reducing its projected emissions of the pollutants by 17% in 2025. The environment ministry said in a presentation on Tuesday that it will, after consultation, present a revised so-called Nationally Determined Contribution to the United Nations Framework Convention on Climate Change. That …

Bloomberg AGL Energy Ltd, Australia’s largest electricity retailer, will launch a joint venture with Ovo Energy Ltd. to use the UK utility’s technology platform Kaluza. As part of the agreement, AGL will invest in Ovo Energy Australia to adapt the Kaluza platform for its domestic market. The aim is to digitalize AGL’s services and offer customers smart products as households …