Today’s ESG Updates
- Italy’s Top Court Decides Fate of Troubled Taranto Steelworks: Judges will review an order to shut the former Ilva blast furnaces on health and environmental grounds, a step the operator says could end production for good.
- Nevada Geothermal Auction Collides With Planned Solar Farms: The US Interior Department’s sale of 83 parcels includes land that overlaps several solar projects. NextEra says the overlap covers about 60% of its planned 1,000-MW Sawtooth project, but regulators declined its request, saying the federal land serves multiple uses.
- Germany Opens Third Round of Industry Climate Contracts: The preliminary phase runs to year-end ahead of a May 2027 start, with up to €8.7bn in the draft budget. Hydrogen, carbon capture, and process heat each get a separate budget, and the round requires EU state-aid approval.
- Oil Tops $110 as the Iran War Keeps Energy Markets on Edge: Brent trades around $110 a barrel, Asian LNG prices hit their highest since December 2022, and European gas stays near multi-year highs.
Italy’s supreme court reviews shutdown order for Taranto steelworks
Italy’s Supreme Court meets today to weigh a case with major consequences for the former Ilva steelworks in Taranto. Judges will review an order to shut the blast furnaces over health and environmental risks. The operator warns the step could close the site for good.
A verdict is expected within days, at an awkward moment for Prime Minister Giorgia Meloni, who faces an election next year. Her government has committed roughly €5 billion to the plant since 2022 and says it will do all it can to protect production.
The works is Italy’s only integrated steel plant, with about 8,000 direct jobs. The bid deadline for Acciaierie d’Italia has moved back so investors can assess the verdict’s impact, and India’s Jindal Steel International leads the race. Workers staged a five-day strike last week, blocking access to an Eni refinery and disrupting fuel supplies.
Klimado – Navigating climate complexity just got easier. Klimado offers a user-friendly platform for tracking local and global environmental shifts, making it an essential tool for climate-aware individuals and organizations.
Nevada geothermal lease sale overlaps planned NextEra solar farms
The US Interior Department will auction geothermal leases in Nevada on Tuesday, and some of the land overlaps planned solar projects. The Bureau of Land Management is offering 83 parcels totaling 265,691 acres.
NextEra Energy, the world’s largest owner of solar and wind generation, asked the agency to remove, defer, or reconfigure three parcels. NextEra says they overlap about 6,000 acres, roughly 60%, of its planned 1,000-megawatt Sawtooth Energy Center in Nye County. The agency refused in August and said federal land serves multiple uses. It added that NextEra’s project would hold the senior right if approved first. One parcel that sat entirely on the Sawtooth site appears to have been removed from the sale.
Leeward Renewable Energy flagged an overlap of about 735 acres with its Lone Mountain project. The Trump administration has backed geothermal as always-on power but largely left wind and solar out of its push to speed federal approvals.
Related Articles
Here is a list of articles selected by our Editorial Board that have gained significant interest from the public:
Germany opens prep phase for third carbon contracts for difference round
Germany has opened the preliminary phase for its third carbon contracts for difference (CCfD) round, which is scheduled to begin in May 2027. The preparatory stage runs to the end of this year, and successful bidders will receive contracts by the end of 2027.
The draft 2027 budget reserves up to €8.7bn for CCfDs, most of it for this round, making it the largest yet. European Commission state-aid approval is still required.
For the first time, hydrogen, carbon capture and utilisation/storage (CCU/S), and process heat each get a separate budget, so similar projects compete against each other. At least €1.5bn is reserved for hydrogen, and final budget levels depend on participation in the preliminary phase.
The scheme mainly targets energy-intensive firms covered by the EU carbon market. The first round signed 15 contracts worth €2.8bn in 2025, and the oversubscribed second round had a €5bn budget.
Oil prices top $110 as Iran war keeps energy supply risks high
Oil prices held near a five-month high on Tuesday as the war with Iran keeps energy supplies uncertain. Brent crude futures stood at around $110 a barrel before European markets opened, and US benchmark WTI was above $104.
ING strategists say the high prices, despite relatively strong Gulf crude flows, suggest traders have built a significant risk premium into the market. Record tanker freight rates add to costs. The US may permit the sale of sanctioned tankers, which would let them return to the legitimate market, but the scale and speed of any relief are unclear.
US Energy Secretary Chris Wright said Gulf crude flows have recovered to about 80% of pre-war levels, though refined products face tighter limits. Bloomberg reported Asian LNG spot prices at $30.4 per million British thermal units on Monday, the highest since December 2022. Dutch TTF gas eased to just below €88 per megawatt-hour.
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — Cover Photo Credit: Paolo Rossa
