Oil demand is expected to contract by 80 kb/d this year, as the Iran war upends the International Energy Agency's (IEA's) global outlook. This is 730 kb/d less than in last month’s report and a forecast 1.5 mb/d 2Q26 decline would be the sharpest since Covid-19 slashed fuel consumption. Initially, the deepest cuts in oil use have come in the Middle East and Asia Pacific, mainly for naphtha, LPG and jet fuel. However, demand destruction will spread as scarcity and higher prices persist.
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New approaches needed to address supply chain risks for rare earth elements
Rare earth elements are moving rapidly to the forefront of global policy making for energy, transport, advanced manufacturing and digital technologies as demand continues to expand while supply chains remain highly concentrated, according to a new International Energy |Agency (IEA) report developed to inform G7 discussions this year.
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EIC awards €118m to 30 breakthrough research projects
The European Innovation Council (EIC) has selected 30 new projects under the 2025 EIC Pathfinder Challenges Call for cutting edge research projects delivering breakthroughs in four strategic areas: biotech for climate resilient crops and plant-based biomanufacturing; generative-AI based agents to revolutionise medical diagnosis; robot collectives; and waste-to-value devices - circular production of renewable fuels, chemicals, and materials.
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Verification of Sustainable Aviation Fuel traceability strengthened
Zemo Partnership has launched RFAS Aviation, a new voluntary assurance scheme designed to provide independent verification of Sustainable Aviation Fuel (SAF) across the UK supply chain. The scheme responds to a critical industry need for a harmonised approach to verifying SAF traceability in the downstream fuel supply chain.
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New framework links past and future emissions to location-specific damage
One tonne of CO2 emitted in 1990 caused US$180 in discounted global damages by 2020 ($40–530) and will cause an additional $1,840 through 2100 ($500–5,700). Settling debts for past damages will not settle debts for past emissions. The research, Quantifying climate loss and damage consistent with a social cost of carbon, was published in Nature and was carried out by Burke, M., Zahid, M., Diffenbaugh, N.S. et al
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ADB surpasses $14bn food security commitment
The Asian Development Bank (ADB) has surpassed its $14bn commitment to strengthen food security in Asia and the Pacific during 2022–2025, while advancing a broader agenda to transform the region’s food systems through additional funding and expanded partnerships.
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Commission to increase EU’s energy independence and affordability
The European Commission has presented its first initiatives to boost investment in homegrown clean energy solutions, increase resilience and reduce energy prices. The prevailing geopolitical context acts as a reminder of the risks related to Europe's reliance on imported fossil fuels. The Commission says that clean energy sources remain the most affordable and safe, and the only mid-term response to reduce our exposure to price volatility.
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25 February 202625 February 2026Regulation, Updates
Council signs off simplification of sustainability reporting and due diligence
The European Council has approved the simplification of the sustainability reporting and due diligence requirements for companies. This legislation simplifies the directives on corporate sustainability reporting (CSRD) and corporate sustainability due diligence (CS3D) by reducing the reporting burden and limiting the trickle-down effect of obligations on smaller companies.
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25 February 202625 February 2026Regulation, Updates
UK Government issues UK Sustainability Reporting Standards
The UK Department for Business & Trade has issued UK Sustainability Reporting Standards: UK SRS S1 and UK SRS S2. UK SRS have been created by assessing and endorsing the global corporate reporting baseline of IFRS Sustainability Disclosure Standards.
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Sodium ion battery stores twice the energy and desalinates seawater
Researchers at the University of Surrey in the UK have discovered that keeping water inside a key battery material dramatically boosts performance. The batteries then store nearly twice as much charge, charge faster and remain stable for hundreds of cycles. This makes them among the top-performing sodium batteries ever.
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University of Graz develops computation method for climate extremes
How much heat, flooding, drought and storms increase as a result of human-induced climate change can be calculated, according to a study by Gottfried Kirchengast and his team at the University of Graz. It can compute all relevant hazard metrics in any region worldwide. The researchers found that anthropogenic climate change has caused a tenfold increase in extreme heat in recent decades.
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Spain’s Repsol installs its second 100MW electrolyser
Repsol is making further progress in its industrial decarbonisation strategy through renewable hydrogen and will install its second large-scale electrolyser at its Petronor refinery in Muskiz close to Bilbao in Northern Spain. Last September, the company approved the construction in Cartagena of its first large electrolyser, with a capacity of 100 megawatts (MW).
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29 January 202629 January 2026Finance, Regulation, Updates
More decisive reform needed to secure UK leadership in finance
TheCityUK and PwC UK have published a report setting out the actions needed for the UK to lead in the next era of global finance. The report, ‘No time to lose: Reasserting UK leadership in financial and related professional services’, draws on engagement with over 300 senior leaders across industry, government, regulators and academia – and is underpinned by new economic modelling and international benchmarking from PwC.
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Millions in UK water company fines for waterway restoration
Water companies who broke environmental rules are now funding the recovery of England’s waterways, as local communities and environmental groups are being put in the driving seat to clean up rivers, lakes and seas. The UK Government is reinvesting £29m from water company fines into local projects which clean up the environment – funding over 100 projects which will improve 450km of rivers, restore 650 acres of natural habitats and plant 100,000 new trees.
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£43m boost for UK green aviation to drive growth
The investment comes as the UK Government drives forward plans for expansion at Heathrow, Gatwick and Luton airports. With the production of low-carbon fuels alone expected to add up to £5bn to the economy by 2050, the funding will drive millions of pounds of private investment into the aviation sector, says the Government.