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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. Hunter Lovins. Thu, 08/13/2020 - 00:15. Is that possible? What happened?
Despite net-zero pledges, banks used $750 billion to finance fossilfuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossilfuel firms during the pandemic year.
Almost half of people surveyed across the European Union are in favour of banning fossilfuel advertising nearly twice as many who oppose such a move, according to a new study. Allowing fossilfuel ads while at the same time trying to reduce CO2 emissions is counterproductive, said Barker.
Deliberately located between Inverness and Aberdeen to address grid congestion from Viking (443 MW), Moray East (950 MW) and Beatrice (588 MW) offshore wind farms, the project is said to significantly reduce the amount of wasted clean energy and is an important milestone to achieving the UK governments mission to have a net zero power grid by 2030.
More than half of the world's electricity will be generated by low-emission sources before 2030 but the deployment of clean energy is "far from uniform" across the globe, the International Energy Agency said Wednesday.
The UKs ambitious target to increase electric vehicle (EV) sales to 80% of all new car purchases by 2030 could result in them accounting for up to 5% of total power demand, according to energy analysts at Montel, though there are concerns whether capacity buildout will be adequate.
IEA, for first time, says demand for oil, gas and coal will all peak by 2030, but must fall sharply before then if agreed climate targets are to be met. The post Australia issued “stark warning” by IEA as fossilfuel demand tipped to plummet by 2030 appeared first on RenewEconomy.
Families and businesses know from the cost of living crisis that our dependence on fossilfuel markets controlled by dictators such as Putin left the UK vulnerable and exposed to energy price spikes, as well as the escalating costs of climate breakdown.
Spearheaded by global green hydrogen player Yamna, alongside renewable fuel specialist Sempen, this project aims to produce 1 million tons of green ammonia annually by 2030. The final investment decision (FID) for this green ammonia project is expected between 2027 and 2028, setting the stage for production to ramp up in 2030.
Forrest says if Fortescue can stop burning fossilfuels by 2030, the rest of the world should follow by 2040, even if detractors call it woke. The post Forrest says no reason world can’t stop burning fossilfuels by 2040, hints at hydrogen breakthrough appeared first on RenewEconomy.
Andrew Forrest unveils detailed plans to eliminate gas and diesel at his giant iron ore operations by 2030. When will companies stop burning fossilfuels," he said. The post “Net zero is a con:” Forrest outlines how Fortescue mines will eliminate fossilfuels by end of decade appeared first on RenewEconomy.
New modelling shows fuel tax credits paid to the mining sector will cost the economy a cumulative $37bn out to 2030. The post How Australia’s largest fossilfuel subsidy could decarbonise mining appeared first on RenewEconomy. This money should be reinvested in decarbonisation.
Levy on oil and gas majors in richest countries would help worst-affected nations tackle climate crisis, says report A new tax on fossilfuel companies based in the world’s richest countries could raise hundreds of billions of dollars to help the most vulnerable nations cope with the escalating climate crisis, according to a report.
The California Air Resources Board has approved an update to the state’s Low Carbon Fuel Standard (LCFS) that will make it more difficult for biofuel producers to generate regulatory credits, and seems likely to result in the largest share of credits going to support electricity for EV charging. Source: Bloomberg
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. Its authors found that even if governments delivered on their 2030 climate pledges, by 2037 food-related fossilfuel use alone would blow the remaining portion of the 1.5C
They include the Spectator magazine and groups based in and around Westminster’s Tufton Street , home to a network of opaquely funded, free market think tanks with a history of criticising climate action and pushing for more fossilfuel exploration. The CPS has supported the expansion of fossilfuel exploration.
Policies such as California's Advanced Clean Truck rule are forcing organizations in the state to phase in zero-emission trucks and phase out fossilfuel-based ones. Progressive cities, many in Europe, are building zones in downtown centers that are banning fossil-fuel vehicles and incentivizing zero-emission models.
The bank, currently Europe's second largest financier of fossilfuels, has committed to reaching net-zero across its supply chain and operations by 2030, before reaching net-zero across its customer portfolio 20 years later.
Sources say the oil and gas major is scrapping plans to ramp up renewable capacity 20-fold by 2030, returning instead to a focus on fossilfuels. The post BP to abandon renewable targets, divest assets in shift back to fossilfuels appeared first on RenewEconomy.
Major fossilfuel firms have committed tens of millions in finance to UK universities since 2022, DeSmog can reveal. Previous reporting from openDemocracy and the Guardian found that, between 2017 and December 2021, £89 million had been given to UK universities from some of the world’s biggest fossilfuel companies.
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. A poster produced by campaign group Clean Creatives.
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.”
These include the controversial energy company Drax , the fossilfuel lobby group Offshore Energies UK , and the gas company Cadent. OEUK is the “leading representative body” for the country’s oil and gas industry, while its members include some of the world’s largest fossilfuel companies, such as Shell, ExxonMobil, and Equinor.
Its goal is to integrate the financial sector’s attempts at going green, including green business investments, exclusionary policies for certain fossilfuels and the industry’s ESG policies, into one complete strategy. . Wells Fargo has pledged to lend or invest $200 billion to sustainable businesses and projects by 2030.
Labour’s Alex Sobel, who is its candidate for Leeds Central and Headingley, said: “Labour has committed to a just transition from oil and gas with no new licenses for oil and gas fields and restoring the 2030 date to ban sales of new petrol and diesel vehicles. The equivalent figure for Reform was £2.3 million since 2001.
The report projects a rapid shift in the global energy mix, with the share of renewables in global power generation expected to double in the next 15 years while total fossilfuel demand is projected to peak before 2030, depending on the scenario. C by 2100, and reaching a 1.5°C C pathway is increasingly challenging.
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.
The fossilfuels used to power the company's vehicle and airline fleets contribute to 92 percent of FedEx's carbon footprint, according to its most recent sustainability report. That fuel also accounts for 6 percent of its annual operating budget. By 2030, 100 percent of those new purchases will be ZEVs. .
The UK government’s move to award £22 billion in subsidies to carbon capture projects followed a sharp increase in lobbying by the fossilfuel industry, DeSmog can reveal. Meanwhile, lobby group the Carbon Capture and Storage Association (CCSA) — which represents dozens of fossilfuel companies — attended 20 meetings, and Equinor 16.
Dependence on imported fossilfuels can never deliver the energy security we need – nor does it allow us to address global climate change. And while renewables are scaling up rapidly, the annual buildout rates are still insufficient to overcome dependence on fossilfuels. Countries are facing an energy and climate crisis.
Amazon has pledged to reach net-zero carbon emissions by 2040, and says it will make sure half of Amazon shipments are net-zero by 2030. But the business of biofuels is a bit messier and — for bio jet fuel — at an earlier stage than procuring solar and wind energy or even purchasing electric vehicles. . Pull Quote. Sponsored Article.
As more and more British Columbians ditch pricey fossilfuels in favour of electricity, low-cost wind power will be key to meeting power demand in a cost-effective way. Between todays updated call for power and the completion of the Site C hydro dam, B.C. Affordable, clean energy and a safer climate are well within B.C.s
Goal of increasing renewable energy generation 20-fold to be ditched, shareholders to be told this week BP is expected to ditch a target to ramp up renewable energy generation by 2030 as part of a shift back towards fossilfuels when it presents its strategy to investors this week.
The research itself is also likely to provoke renewed criticism of the OCGI's priorities, given it focuses on CCS technologies that would in effect prolong the use of fossilfuels to power ships, rather than on alternative, low or zero carbon shipping fuels that could transition the sector away from fossilfuels altogether.
This project, which will use high-voltage subsea cables to transmit energy to Singapore, underscores PacificLights commitment to diversifying energy sources beyond traditional fossilfuels. GW by 2030. Singapore plans to launch at least nine hydrogen-ready plants by 2030. and reach up to 11.8
The ambitious proposal was included in the REPowerEU plan , which detailed a vast number of changes designed to curb reliance on Russian fossilfuels by 2027, and thus catalysing Europe’s transition to renewable energy. In doing so, we could see an acceleration in the transition to net-zero.
Acknowledging the cost-of-living crisis was a consequence of an over-reliance on fossilfuels, placing the UK economy and consumers at the mercy of international markets,Ms Fahnbulleh said, As a government, we are committed to deliver home grown green power. This is the only way to deliver energy, economic and climate security.
World must spend at least $A18 trillion on renewables and the grid to meet climate targets, and most can come from scrapping fossilfuel plans. The post World must spend $A18 trillion in renewables and grids by 2030 to meet climate targets appeared first on RenewEconomy.
IBM said it would reach that milestone in 2030. Such commitments often are coupled with an interim goal of cutting emissions in half by, say, 2030. Corporate signatories to the Climate Pledge have committed to net zero by 2040. The bar continues to move.
Shell’s declared plan had been to reduce the “carbon intensity” of its products by 20% by 2030, with a view to reaching net zero by 2050. It could therefore be said that this a ruling that Shell must reduce its fossilfuel production, as comments from Stockholm Environment Institute (SEI) pointed out.
Energy Minister Miatta Fahnbulleh MP also recently commented that: Anaerobic digestion and biomethane allows us to reduce our reliance on fossilfuels. While the UK is forging ahead with renewable, sustainable electricity supply, less than 1% of the gas consumed by homes and businesses is green gas.
The Tory leader, who has received recent donations from fossilfuel interests and climate science deniers, made her speech at the Havas Village in Kings Cross, London, and was introduced by H/Advisors CEO Neil Bennett. By abandoning net zero by 2050, Badenoch has sold out the interests of the British people to the fossilfuel industry.
These investors have bought “green-labelled” bonds issued by Eni, Italy ‘s largest – and the world’s 13th largest – fossilfuel company. As the activist group Reclaim Finance describes the scam : “the bond market has become a safe haven for easy access to fossilfuel finance.”
Moving away from fossilfuels for this heat production was the first step and the first big obstacle for Diageo. . The biggest challenge was to maintain that process integrity, but also move on from traditional fossilfuels.". Energy & Climate. Decarbonization. Building Electrification. Manufacturing.
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