Net Zero News – Early October 2025
Estimated reading time 2 minutes
An investment group has expressed interest in joining forces with the government to buy an oil refinery that went into liquidation in June.
Led by investor Marc Amram, the group says it wants to run Lindsey Oil Refinery in North East Lincolnshire, with the government retaining ownership while its revival and operation would be financed by private equity.
However, Ember says the headlines mask a mixed global picture.
Developing countries, especially China, led the clean energy charge but richer nations including the US and EU relied more than before on planet-warming fossil fuels for electricity generation.
Coal, a major contributor to global warming, was still the world’s largest individual source of energy generation in 2024, a position it has held for more than 50 years, according to the International Energy Agency.
The world’s biggest steel, iron and cement companies have been accused of overlooking “substantial opportunities to reduce emissions” with existing technologies by betting big on carbon capture and carbon offsetting.
An analysis of corporate net-zero plans in these industries by science and policy institute Climate Analytics has concluded that they are heavily reliant on the use of onsite carbon capture, utilisation and storage (CCUS) technologies.
