Bloomberg South Korea revealed a 42.7 trillion won ($35 billion) plan to ramp up its commitment to renewable energy and environmentally friendly infrastructure, but came short of setting a time frame to phase out carbon emissions. President Moon Jae-in announced a framework on Tuesday to expand energy efficiency, boost low-carbon power sources and foster green industries amid an effort to ...

Bloomberg The coronavirus pandemic will accelerate Eni SpA’s pivot away from conventional refineries to investing in greener facilities. “Instead of slowing down, we see Covid as a reason to accelerate the transition to low-carbon energy,” Chief Executive Officer Claudio Descalzi said in an interview with Bloomberg. In February, Eni set tougher climate goals, in which the Italian energy giant pledged ...

Bloomberg The Economic Transformation Committee of South Africa’s ruling African National Congress (ANC) suggested that pension funds take over some of the assets of the indebted state power company. The proposal to transfer parts of Eskom Holdings SOC into non-state hands was made in a discussion document, which considered responses to the coronavirus-induced economic slump. The ANC’s labour union allies ...