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2020: Fossilfuels are dead, long live the sun. In this strangest of all years, as the death toll mounts from a disease caused by human incursions into once intact ecosystems, we’re observing another death — the demise of fossilfuels. When oil and gas companies say that they’re getting out of oil and gas, shouldn’t you?
percent of the years global carbon dioxide emissions from fossilfuels, the report adds. The Carbon Majors are keeping the world hooked on fossilfuels with no plans to slow production, former United Nations climate chief and Paris Agreement architect Christiana Figueres said in a response accompanying the report.
Food systems are responsible for at least 15 percent of all global fossilfuel consumption, according to a major report launched ahead of the COP28 climate summit. The analysis shows that the production, transport, and storage of food are driving greenhouse gas emissions equivalent to those of the EU and Russia combined.
The problem for multinational oil companies seeking to extract that oil is whats mixed in with it: trillions of cubic feet of methane, often referred to as naturalgas. Handling naturalgas off the coast of Suriname and Guyana poses major challenges and involves significant environmental risk, however. In May, the U.S.
Danish energy company Ørsted has sold off its LNG unit but will hang on to its gas trading business. The firm, previously known as Danish Oil and NaturalGas, sold its upstream fossilfuels business to Ineos in 2017 and is phasing coal out of its generation mix by 2023.
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. Aramco has partnered with Spain’s Laguna de El Hito Nature Reserve to conserve bird species.
JPMorgan Chase is the world’s biggest financier of fossilfuels, according to environmental organisations. In 2020 the bank pledged to end fossilfuel loans for Arctic oil drilling and phase out loans for coal mining. Fossil Finance. JP Morgan declined to comment.
The world’s 60 biggest banks funded fossilfuels to the tune of $6.9 That’s the conclusion of the 15th annual “Banking on Climate Chaos” report, which was published on May 13, and also found that the financial institutions lavished $705 billion on oil, gas, and coal in 2023—the hottest year on record.
Former UK Energy Minister and original COP26 President Claire O’Neill has been cleared to take up a role at a business consultancy known for running “astroturf” campaigns for fossilfuel companies, despite warnings from the body that approves such appointments. Oil and Gas Industry Groups.
The campaigns have been deployed across a number of social media platforms and are part of a global effort to give “millennials a reason to connect emotionally” with oil and gas firms, and to tackle their perception as “the bad guys”. In 2016, he presented the social media coverage of the company’s Make the Future London festival.
This estimate considers factors such as the expected decline in importance of fossilfuel generation and the advent of nuclear supply from the Hinckley Point C power station currently under construction. 2016-2021). It also considers the potential for net imports or exports of energy through interconnectors.
As a result, this environmentally friendly fuel requires less energy and space than traditional fuels, naturalgas, or other methods of producing H2. Uses less space and energy than naturalgas, fossilfuel, and existing hydrogen production methods. Whitaker Irvin, Jr. While the U.S.
The Advertising Standards Authority (ASA) ruled on Wednesday 18 December that the advert had misled consumers by promoting what the bank was doing internally to reduce its climate impact but failing to mention its contributions to climate change by financing fossilfuel projects.
Back in 2016, First Solar proved in a California pilot project that utility-scale solar farms can provide critical transmission grid services. First Solar’s 2016 project with California grid operator CAISO and the U.S. Four years later, the leading U.S.-based How it works: Staying ahead of the curve.
It continues to refine its drilling technology to make residential drilling and heat pump installation easier and more competitive with incumbent fossilfuels. He joined when Opower had about 30 employees, then served as chief marketing officer as the company went public in 2014 and was acquired by Oracle in 2016.
Marked “confidential,” the presentation introduced “Scenario D,” where the price of carbon is high, fossilfuel production and consumption had significantly declined, and economic growth had started to contract. Credit: U.S. Senate Committee on the Budget An internal document released by the U.S. Released by the U.S.
The BBC has produced dozens of films and articles for oil and gas companies, agricultural giants, fossilfuel states, and high-emission transport firms in recent years, DeSmog can reveal. Fossilfuels are not only poisoning our planet – they’re toxic for your brand,” he said.
Now, the Dutch NGO that successfully sued Shell over its climate plans is taking those financial backers to court in a case that could help reverse the global banking sector’s support of fossilfuel firms and their activities. liquefied naturalgas (LNG). ING headquarters in Amsterdam, Netherlands. billion to the sector.
Today, the Consumer Energy Alliance ( CEA ) — an organization funded by oil and gas producers — released their own report that presents a different narrative about energy production and air quality in Pennsylvania, a state that’s become one of the nation’s largest producers of fossilfuels.
Fossil-fueled combined-heat-and-power systems will continue to take a back seat to distributed solar and energy storage for behind-the-meter generation — although resilience against wildfires, hurricanes and other extreme weather events will drive adoption of both. market by 2025, according to Maze-Rothstein.
Exelon’s generation fleet includes 18,700 megawatts of nuclear generation capacity and another 12,300 megawatts of naturalgas, hydroelectric, solar and wind energy. In July, Dominion Energy agreed to sell its competitive naturalgas businesses to Warren Buffett’s Berkshire Hathaway for $9.7
But the newly adopted measures, which were announced last week, leave the London-based multinational with plenty of flexibility to continue financing fossilfuel extraction — and some critics say they don’t go far enough. Publicly, Barclays has signaled an intent to pivot away from fossilfuels and help power the rise of green energy.
Panelists, who included representatives from the energy banking industry and advisors to energy companies seeking financing, also expressed strong commitment to continue working to fund the expansion of fossilfuels. Bankers Plan to Fund FossilFuels As Long As It Pays. Lending Issues Due to Failed Economics, Not ESG.
A UK-Canada event last week praised 26 “exceptional individuals actively working to move Canada to net-zero emissions”, five of whom work for companies and investors involved in the fossilfuel industry, including the Canadian oil sands. TAG), the largest naturalgas transporter in Brazil.
microgrid market since 2016, with only 58 megawatts of projects on the books, according to WoodMac’s survey of projects of at least 100 kilowatts in size. The coronavirus pandemic has thrown a wrench into U.S. The first half of 2020 was the slowest for the U.S.
Its mission: to offer products that "promote the harmonious relationship of the individual with oneself, with others and with nature.". Working under group CEO Roberto Marquez, João Paulo Ferreira’s Latin America CEO position has overseen the heart of the original business since 2016.
Of the 64 total board members at Omnicom Group , WPP , Interpublic Group (IPG), Publicis Groupe , Dentsu and Havas , 32 have significant experience in carbon-heavy sectors such as fossilfuels, fossilfuel financing, plastics, utilities, and aviation. Twenty-two are still serving in roles at such companies.
In an effort to gain federal approval for a naturalgas storage project in south Louisiana, Sempra LNG lobbyists crafted letters for Louisiana elected officials to send to federal regulators in support of the project. billion cubic feet of naturalgas. billion cubic feet of naturalgas. Mike Reese and Rep.
In 2022 the Quest project, which converts fossilfuels into hydrogen, was revealed to have emitted more carbon dioxide than had been sequestered. I have to operate in the world of affordability and reliability, and naturalgas is going to be an essential part of that to be able to mitigate against emissions.”
billion acquisition of Florida utilities Gulf Power and Florida City Gas from previous owner Southern Company, it has so far been unsuccessful in that pursuit. In 2016, NextEra’s $4.3 But beyond last year’s $6.4 Amid this welter of mergers and acquisitions proposed or consummated, U.S. And Exelon Corp.,
naturalgas production comes from federal leases in the Gulf of Mexico, according to the Bureau of Ocean Energy Management. gas is produced, have been surprised to find that about 4 percent of the naturalgas they pulled from the ground was leaking into the atmosphere. oil production and 1 percent of U.S.
But behind the plant’s shiny facade is a worrying reality — experts say that CCS’s success in mitigating climate change is still unproven and could, in fact, harm regional decarbonization while continuing fossilfuel use. We can’t rely so much on unproven technologies.” The campaign has worked. said Sisilia Dewi, 350.org
In this respect, they can emulate or replace naturalgas-fired peakers and help address distribution network bottlenecks—but usually without the same capital outlay. Microgrids (and minigrids) also often involve a mix of distributed renewables, storage, flexible demand and fossil-fuel plants.
In 2016, DeSmog reported from the annual Energy Information Administration (EIA) conference that countries in Southeast Asia expected a “doubling of electricity demand by 2030, dominated by coal.” . Can Coal Replace NaturalGas? coal power has been replaced with gas power (methane/naturalgas).
billion liquefied naturalgas (LNG) terminal in her Pennsylvania hometown, she will be facing off against some of the most powerful fossilfuel interests in the United States. LNG boom threatens to release vast amounts of methane, a powerful climate pollutant that is the main component of naturalgas.
Currently, Exelon's nuclear plants participate in the capacity market overseen by mid-Atlantic grid operator PJM, which is dominated by natural-gas-fired generators. billion a year for capacity in Illinois, and that overwhelmingly goes to fossilfuel. “Right now, we’re spending [up to] $1.8
This ad, created by New York-based agency BBDO , barely mentions fossilfuels, even though it was paid for by one of the world’s biggest oil and gas companies. Among hundreds of oil and gas industry internal documents released by a U.S. These kinds of ad campaigns are popping up all over.
Mexico's first three clean energy auctions, held in 2016-2017, were seen as an unqualified success, bringing major new solar and wind developers into the market and delivering stunningly low prices. AMLO focused on the energy sector as soon as he came to power. COVID-19 impacting Mexican renewables.
With a long history in fossilfuels and nuclear energy, Engie has pivoted dramatically toward renewables over the past few years — a strategy that included the U.S. Despite Henry Hub naturalgas spot prices below $2 per MMBtu, Avice-Huet said Engie is not investing in new U.S. It hasn’t always gone smoothly.
2020: Fossilfuels are dead, long live the sun Hunter Lovins Thu, 08/13/2020 – 00:15 We’re female entrepreneurs and environmentalists. In this strangest of all years, as the death toll mounts from a disease caused by human incursions into once intact ecosystems, we’re observing another death — the demise of fossilfuels.
Indigenous leaders have called on Citigroup to stop financing oil and gas projects in the Amazon, saying the bank’s activities contradict its climate pledges by putting the threatened ecosystem at greater risk. Second Largest FossilFuel Funder. Between 2016 and 2020, Citigroup provided an estimated $43.8
In November, he instructed his province’s public utilities, SaskPower and SaskEnergy, to stop collecting carbon taxes on naturalgas as of January 1, 2024, if the federal government didn’t extend the same carbon price carve out to his province. The most extreme reaction was from Saskatchewan Premier Scott Moe.
consulting and PR firm, with a long history of waging influence campaigns for fossilfuel corporations, is under scrutiny by a congressional committee as part of a broader investigation into the decades-long efforts by the oil industry and its allies to block action on the climate crisis. A powerful Washington, D.C.,
Like Hurricane Katrina and numerous storms before it, Hurricane Ida demolished Louisiana’s outdated, fossil-fuel-dependent energy system. Fossil-Fuel Failures. Instead, state and local government, as well as the electric utility, Entergy, continue to fight tooth and nail for more fossil-fuel-powered energy infrastructure.
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