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supported $1.316 trillion in transactions for the fossilfuel industry. received $37 million in compensation for fossilfuel industry lobbying. The study analyzed litigation, transactional and lobbying work conducted from 2015 to 2019. Suffice to say, the jury is out.
Since then, the Conservative government has made a series of U-turns on its own net zero policies, attacked Labour’s green spending plans, and doubled down on its support for new fossilfuel projects, approving more than 100 new North Sea oil and gas licences. This comes as DeSmog and Democracy for Sale reveal that £6.8 percent (£1.8
. | Photographer: Krisztian Bocsi / Bloomberg via Getty Images More than 130 companies, including Volvo Cars, Ikea, Unilever, Nestlé, and AstraZeneca, signed a letter calling on governments to adopt a global plan to phase out fossilfuels without carbon capture during upcoming international climate negotiations.
The beginning of the end for fossilfuels? This text is a step forward on our path towards phasing out fossilfuels, but is not the historic decision we hoped for.” More than 100 countries came to the table pushing for an official agreement to “phase out fossilfuels.”
Since 2015, the ratio of… The amount is nearly double what will be invested in oil, coal, and gas this year, according to the International Energy Agency’s new report “World Energy Investment 2024.”
Since the 2015 Paris Climate Agreement banks have provided some $3.2tn to the fossilfuel industry to expand operations Banks are pouring trillions of dollars into the expansion of the world’s most emitting industries in the global south, according to a new report.
Global advertising and public relations company WPP has more contracts with fossilfuel clients than any of its rivals, despite the group’s pledge to reach net zero emissions by 2030, according to a report by campaign group Clean Creatives. Omnicom followed with 39 contracts; Interpublic Group had 25; and Publicis Groupe had 11. “The
The end of the fossilfuel era appeared to have come a significant step closer with the signing of a joint commitment to phase out coal on day four of the COP summit (4 November). There has been a 76% drop in the number of new coal plants planned globally since the Paris Agreement was adopted in 2015. degrees in reach.”.
Over the past month and a half month, California lawmakers have enacted a pair of climate disclosure bills and endorsed a global call to end the fossilfuel era. Lena Gonzalez (D-Long Beach) introduced legislation requiring both funds to divest from the 200 largest fossilfuel companies by the 2030s — holdings worth about $15 billion.
We talk so much about the supreme challenge of reducing emissions — something that already requires transitioning our entire economy away from the burning of fossilfuels, adapting to existing climate threats, and doing all that in a way that at the very least doesn’t add to the burdens of already marginalized communities.
Three-quarters of prizes at the UK’s top sustainable advertising awards went to agencies who work for the fossilfuel industry, a DeSmog analysis has revealed. Members must also report on their progress towards implementing net zero goals set in line with the 2015 Paris climate agreement. Credit: Sam Whitham.
Hosking previously told DeSmog: “I do not have millions in fossilfuels; it is the clients of Hosking Partners who are the beneficiaries of these investments.” No political party should be taking any money from fossilfuel interests whatsoever,” Caroline Lucas, until recently the Green Party MP for Brighton Pavilion, told DeSmog.
From the world’s biggest soccer championship to soccer training for kids , from major universities to music festivals and art galleries to — if you can name it, fossilfuel companies have probably sponsored it. TotalEnergies will sponsor the 2023 Rugby World Cup in France.
bank has become the latest financial firm to join the Global Carbon Accounting Partnership (PCAF), a growing coalition which first began in the Netherlands in 2015 and now boasts 66 formal members from around the world representing more than $5.3 Morgan Stanley has become the first major U.S. trillion in assets. Pull Quote.
Net zero can be achieved, first and foremost, by cutting or eliminating greenhouse gas emissions and, secondarily, by offsetting any remaining emissions through such actions as planting trees, investing in renewable energy projects that replace fossil-fuel energy, or investing in novel carbon-removal technologies such as direct air capture.
billion into fossilfuel projects around the world since the Paris Climate Agreement was signed in 2015, undercutting global efforts to combat the worsening climate crisis. The fact sheet stated: “In fiscal year 2021, the World Bank (IBRD/IDA) did zero new fossilfuel financing.
Regardless of the specifics, the airline industry is feeling the heat from its reliance on fossilfuel-based jet fuel and thus its relatively large emissions. Amazon began growing its fleet of 20 airplanes in 2015. The vast majority of goods in the U.S.
Bank bosses due to attend a green investment summit tomorrow head institutions which have provided over £700 billion of financing for the fossilfuel industry since the 2015 Paris Agreement, including £129 billion in 2020 alone. . JPMorgan financed £230 billion in fossilfuels between 2016 and 2020.
Jean-Paul Harreman, director of EnAppSys BV, said: “The proportion of the fuel mix occupied by fossilfuels nudged upwards from 33.1% This indicated that the stability brought about by the increase in demand to normal levels was offset by the decrease in wind generation and subsequent increase in dependence on fossilfuels.
An in-depth article by the website Carbon Brief argues that the fuel is unlikely to be taken up universally, particularly as “the volume required to satisfy all the possible applications for low-carbon hydrogen would likely far exceed the amount available, even if production is significantly scaled up.”. Credit: Gaia Lamperti.
Plans by HSBC to buy and close coal plants in Asia have been dubbed a “cynical” attempt to clean up the bank’s image before the COP26 climate conference by “one of the world’s top financiers of fossilfuels”. HSBC, however, is the 13th biggest funder of fossilfuels in the world, according to the Rainforest Action Network.
Ahead of the COP27 UN climate summit, hundreds of scientists are calling on the PR firm in charge of the event’s communications, Hill+Knowlton, to cut ties with its fossilfuel industry clients, which include major oil companies Aramco, ExxonMobil, and Shell as well as an industry coalition called the Oil and Gas Climate Initiative.
We knew departments in our university took money from fossilfuel companies, but we were shocked by the sheer scale: since 2015, Oxford has received over £8.2 Incredibly, we found the fossilfuel companies themselves were generally more transparent about their research funding and donations than a public university.
The UK government gave over £150 million in tax breaks to fossilfuel companies in the space of three years, new research has found. A new paper out today reveals that tax credits for fossilfuel extractive companies to conduct research and development (R&D) increased by around £20 million year on year between 2014 and 2016.
Known for his historic solar-powered flight around the world in 2015, Piccard is now tackling an even greater challenge: non-stop, global flight powered entirely by liquid green hydrogen. Right now, most hydrogen production globally relies on fossilfuels.
Further wording was also added in the same sentence on coal and fossilfuels calling for "targeted support to the poorest and most vulnerable in line with national circumstances". Yet there was more drama to come, when India tabled changes to the text at the last possible moment.
Research finds 60% of government contracts through backup capacity market went to fossilfuel plants The UK has given more than 12.5bn from energy bills to fossilfuel power plants in the past decade through a government scheme to keep the lights on during winter, according to new analysis. Continue reading.
A newly published report by Fossil Free California finds California’s pension fund managers are circulating divestment “misinformation” by exaggerating the costs involved in shedding their fossilfuel investments in documents prepared for state lawmakers. The two pension funds have estimated holdings of $7.4 billion and $4.1
Indigenous delegates said they had been amazed at the “wilful ignorance” they encountered when demanding global banks cease financing new fossilfuel projects on their ancestral lands in what is today North America. Lazcano is fighting TransCanada’s project to build the Tuxpan-Tula pipeline to import gas to central Mexico from Texas.
UK fossilfuel imports from authoritarian petrostates surged to £19.3 Petrostates are countries that are economically heavily dependent on fossilfuel production. billion on fossilfuel imports from the year beginning February 2022. billion on fossilfuel imports from the year beginning February 2022.
New large-scale fossilfuel projects have become mostly unworkable in the Pacific Northwest, with dozens canceled over the past decade due to fierce opposition from local communities. Then, when the Obama administration lifted the ban on crude oil exports in 2015, new oil export projects were in vogue.
Policy Exchange, one of Westminster’s most prominent think tanks, engaged in a high-level influencing campaign over the UK’s North Sea oil and gas policies while being funded by fossilfuel interests, DeSmog can reveal. Fossilfuel firms tout CCUS and hydrogen as green energy solutions, yet the reality is more complicated.
French banks have financed $154bn to firms running biggest fossilfuel projects since 2015 climate pact France is Europe’s biggest supporter of “carbon bomb” extraction projects that hold enough fossilfuels to pump out more than a gigaton of CO 2 each, the Guardian can reveal.
The 27 member states burned 17% less fossilfuel to make electricity between January and June 2023 than over the same period the year before, a study from the clean energy thinktank Ember found.
Inadequate bonding requirements means there is a serious gap in available funding to properly clean up after the fossilfuel industry. shale industry has burned through hundreds of billions of dollars in cash, and there have been more than 250 bankruptcies of North American oil and gas companies since 2015. Credit: BLM. (CC
Billed by the fossilfuel industry as a climate solution, dozens of planned blue hydrogen projects in Europe could consume more natural gas each year than France, and produce emissions on a par with Denmark, a DeSmog analysis has found. . “You want me to admit that we have a lot of CO2 emissions because of blue [hydrogen].
Exxon is now putting Guyana at the heart of its plans to press on hunting for new fossilfuel supplies despite the climate crisis. ExxonMobil says it’s made 18 oil discoveries in Guyana since 2015 — the same year the Paris Agreement was adopted — and the company started production in earnest in December 2019.
Fossilfuel representatives develop undergraduate courses. The authors came to that conclusion by conducting a first-ever review of dozens of existing academic and civil society investigations into fossilfuel infiltration of higher education, looking primarily at institutions in the U.S., UK, Canada, and Australia.
It also looks at the persistence of fossilfuels in its energy mix. On the other hand, DNV forecasts fossilfuels will still account for 40% of its energy mix in 2050. Likewise, solar made up less than 1% of power generation in 2015 and in less than a decade this has risen to 5% today.
While companies have committed to using it, fossilfuels prices were declining and then tanked during the pandemic, driving virgin plastic prices well below recovered plastic. By 2015, it had a 100 percent bio-based PET bottle, as other companies are looking to do the same. The availability of recovered materials also decreased.
Durham PA, 2015. The post PennEast Pipeline Cancelation Could Signal ‘End of an Era’ for Unnecessary FossilFuel Projects appeared first on DeSmog. The Mountain Valley Pipeline is under construction but still faces many more hurdles standing in the way of its completion. Jordan Cove is all but dead. Credit: ScubaBear68. (CC
Clean hydrogen could cut greenhouse gas emissions from fossilfuel by up to 34 percent, reported Bloomberg New Energy Finance. . The annual demand could reach 19,120,458,891 tons by then, representing a tenfold increase from 2015 to 2050. .
In 2015, then-Secretary of State John Kerry called the Paris climate treaty a “tremendous victory.” trillion has flowed into fossilfuels globally. Now Kerry and other White House officials are focusing on banks and insurers that are still offering a lifeline to new fossilfuel projects.
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