Today’s ESG Updates
- TotalEnergies and Masdar Launch Major Renewables Venture: TotalEnergies and Masdar form a $2.2B joint venture to expand solar, wind, and battery projects across Asia.
- Indonesia Earthquake Causes Damage but Limited Impact: A strong earthquake damaged buildings and triggered small tsunami waves, though major risks have been lifted.
- Czech Government Moves to Control Fuel Prices: The Czech Republic will cap fuel retailer margins and cut excise taxes to limit rising fuel costs.
- Morocco Secures Fuel Supplies Amid Energy Pressure: Morocco has secured diesel and fuel reserves for weeks while managing rising prices and import dependence.
TotalEnergies and Masdar launch $2.2B renewables venture
TotalEnergies and Abu Dhabi’s Masdar have agreed to form a $2.2 billion joint venture to expand renewable energy projects across Asia. The partnership will combine their onshore assets in nine countries, with a portfolio of 3 gigawatts already operational and 6 GW under development. The venture will focus on building and operating solar, wind, and battery storage projects, aiming to meet rising electricity demand in the region. Both companies will hold equal stakes, positioning the collaboration as a major step in accelerating Asia’s clean energy transition and supporting long-term decarbonization goals.
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Further reading: TotalEnergies, Abu Dhabi’s Masdar form $2.2 billion renewables joint venture
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Indonesia earthquake triggers damage but tsunami risk eases
A powerful 7.6 magnitude earthquake struck Indonesia’s Northern Molucca Sea, killing one person and damaging buildings, while triggering small tsunami waves. Authorities reported waves of up to 0.75 meters and around 50 aftershocks, though warnings were later lifted as the threat diminished. The quake caused panic, with residents fleeing homes and infrastructure suffering minor to moderate damage. Officials urged continued caution due to possible aftershocks. Indonesia, located along the seismically active Pacific Ring of Fire, frequently experiences earthquakes, but early assessments suggest limited casualties and economic impact from this event.
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Further reading: Indonesia earthquake damages buildings, but tsunami alerts have been lifted
Czech government caps fuel margins to curb prices
The Czech government has announced plans to cap fuel retailers’ margins and reduce excise taxes to limit rising fuel prices driven by the Middle East conflict. Prime Minister Andrej Babis said the move aims to protect consumers and businesses from increasing energy costs. The decision follows similar measures across Central Europe, where governments are stepping in to ease pressure from surging oil prices. Officials warned of “chaos” in the market and called for a more coordinated regional response as geopolitical tensions continue to disrupt global energy supplies and drive volatility in fuel markets.
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Further reading: Czech government to cap fuel retailers’ margins, lower excise tax
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Morocco secures fuel supplies amid energy disruptions
Morocco has secured diesel supplies for 51 days and petrol for 55 days as global energy disruptions from the Middle East conflict drive price increases. The country, which relies entirely on fuel imports due to a lack of domestic refining capacity, has also ensured coal and gas supplies until the end of June. Authorities say diversification of supply sources has helped mitigate risks, while subsidies have been reintroduced to support transport sectors. However, rising global oil prices continue to pose inflation risks, highlighting Morocco’s vulnerability to external energy shocks and ongoing dependence on international markets.
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Further reading: Morocco has diesel stocks for 51 days, energy ministry says
Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: wind turbines solar panels. Cover Photo Credit: Wikimedia Commons
