Petrochemicals giant INEOS buys Swiss football team

Petrochemicals giant INEOS has added a football team to its array of noncore investments. The investment in FC Lausanne-Sport is part of the company’s support for youth and community sports. The football team has won the league seven times and is currently sixth in the Swiss Super League. The company, which operates a shale gas […]

Council greenlights EU-Swiss emissions trading link

The European Council has given the green light for the agreement linking the EU and Swiss emissions trading systems (ETS). It will now forward it to the European Parliament for its consent in order to conclude the agreement. The ETS is one of the main tools for cost effectively reducing greenhouse gas emissions, in particular […]

UK ranked sixth most sustainable country in the world

Sweden has been dubbed the most sustainable country in the world in a new ranking, beating the UK which came in sixth place. A new report rated a total of 59 countries on a range of environmental and social issues, including how a country’s government deals with an ageing population, the type of policies and […]

ABB buys solar energy firm for $1bn

Swiss engineering firm ABB is set to buy a Californian solar energy company for $1 billion (£656m). Power-One makes solar inverters (pictured), which converts direct current generated by solar cells into alternating current needed by electricity grids. According to ABB, the solar inverter market is forecast to grow by more than 10% a year until […]

Nestlé to cut greenhouse gas emissions by 35%

The owner of brands such as Nescafe, KitKat and Cheerios has upped its green credentials and announced its plans to cut greenhouse gas emissions by 35% by 2015. As part of its new set of environmental commitments, the Swiss multinational firm also aims to cut energy consumption by a quarter in the next two years, […]

Transocean to pay $1.4bn for oil spill

Transocean, owner of the Deepwater Horizon oil rig, has agreed to pay $1.4 billion (£900m) over five years for the Gulf of Mexico oil spill. The multinational exploration company, which leased the rig to oil giant BP, pleaded guilty to a violation of the Clean Water Act (CWA) for “negligent discharge of oil” into the […]

‘Bigger is better’ for wind turbines

The bigger the turbines, the better it is for the environment, according to a new report by Swiss researchers. The study, which includes the analysis of 12 land turbines measuring up to 300ft, found larger turbines are more environmentally friendly and produce greener electricity. The researchers claim this is because manufacturers now have the knowledge, […]

180 Coryton workers to lose jobs

About 180 workers at the Coryton refinery will be made redundant next week, its administrators announced. The news comes after PricewaterhouseCoopers (PwC) failed to find a buyer for the Essex site earlier this year. Swiss owner Petroplus held a meeting earlier this week with the employees and the Unite union at Coryton to explain their […]

Former Russian Minister last hope for Coryton

A former Russian energy Minister is bidding to stop the Coryton refinery from closing down, according to newspaper reports. The news comes after the UK Government announced last week that it won’t be providing the refinery any support. Igor Yusufov emerged as the sole bidder for the bankrupt refinery and could potentially save the jobs […]

Electric drives save energy equivalent to nuclear plants

Electric drives could save as much energy as nuclear power plants, according to a Swiss power and technology group. ABB claims it saved about 310 million MWh of electric power last year, equivalent to the energy generated by around 41 nuclear reactors. It claims those savings made from its electric motors would be equivalent to […]