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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.
Puerto Rico adopted laws that called for generating 100 percent of its electricity from renewable sources by 2050. But FEMA's fossilfuel plans might stymie that progress.
On the same day that scientists warned of a deepening climate catastrophe, Labor declares gas is good and announces a plan to "lock it in" beyond 2050. The post Labor caves in to fossilfuel cartel as it locks in gas beyond 2050 amid deepening climate crisis appeared first on RenewEconomy.
A report published on 26 August by an independent group of experts warns that reaching net zero greenhouse gas emissions by 2050 is now “too little too late”, and will not achieve the long-term temperature goals identified in the Paris Agreement to limit global warming to 1.5°C license ). C by the end of the century.
This event is more than a celebration of sport it is a global stage where the country can either reinforce its role as Europe’s biggest fossilfuel producer or rise to the occasion and lead a just transition away from oil, gas and goal production. You dont phase something out by building more of it. Athletes know this.
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. That's just science, not finance.".
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.
The airline industry is on course to miss its 2050 net zero target for aviation. Passenger numbers continue to soar, while alternatives to fossilfuels remain underdeveloped. Missing this target matters because aviation contributes significantly to climate change. UK aviation emits about 5% of global aviation emissions.
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
We cannot rely on linear developments and a steady energy transition over the next 30 years to 2050,” according to William Gillett, Energy Programme Director of the European Academies’ Science Advisory Council (EASAC). The biggest source of GHG emissions in the EU is the use of fossilfuels in industry, buildings and transport.
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.
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
. | Photo by Jan Woitas/picture alliance via Getty Images The European Union saw a record drop in pollution from fossilfuel power plants last year, according to a new report. Fossilfuels dropped to their lowest point since reliable record-keeping started in 1990, making up less than a third of EU’s electricity generation in 2023.
billion) in fossilfuel firms. This includes companies that specialise in extracting, refining, transporting and distributing fossilfuels. million) shareholding in the oil and gas supermajor Chevron, as well as stakes in Shell, Equinor, and 109 other fossilfuel companies. billion (£1.8
During her address, Badenoch suggested that we are bankrupting ourselves in the pursuit of reaching net zero emissions by 2050. Havas has worked with a number of fossilfuel clients in recent years, although the company had seemed on track to reduce its involvement with polluters, prior to the 2023 Shell contract.
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.
. | 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.
We will be relying on fossilfuels for some time.". Broadly focused on the fossilfuels company's digital transformation, the applications being built collaboratively by the two companies are aimed at measuring carbon emissions — both Shell's and those of its suppliers and customers.
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.”
Nigel Farage ’s Reform party received £135,000 this year from donors linked to climate science denial and fossilfuels, DeSmog can reveal. Latest official records show that all donations made to Reform UK so far this year are from individuals with ties to climate science denial or fossilfuel interests.
Continued investment in carbon-intensive industries will drastically increase the amount of "stranded assets" as the world moves to net-zero emissions, researchers warn.
Alongside these deep emissions cuts, the Carbon Law suggests ramping up carbon removal projects , which will take many years to develop and deploy at sufficient scale, between now and 2050. In addition, we will have to rapidly shut down fossilfuel energy sources and deploy renewable energy systems across the planet as quickly as possible.
All at sea The global shipping industry is a big generator of greenhouse gas emissions, largely due to its dependency on fossilfuels. But hydrogen can provide a clean fuel alternative for long-haul shipping. Meanwhile, on routes without electrification, hydrogen-powered trains offer a greener alternative to diesel engines.
Record levels of investment in clean energy (solar has been called the cheapest source of electricity in history by the International Energy Agency) and a decline in coal-powered generation means less and less of the world’s power will come from fossilfuels between now and 2050, the analysis from Rhodium shows.
OGCI claims mobile carbon capture technologies aboard ships could help the global shipping sector reach its current climate target to cut emissions by 50 percent by 2050, from a 2008 baseline — a goal that has faced criticism from green groups for lacking ambition.
Those processes use a lot of energy and largely come from fossilfuels; one-third of U.S. To achieve net-zero economy-wide emissions by 2050 and limit global warming, industrial emissions must drop while still meeting societal needs. greenhouse gas emissions come from industry. Start with heat. Sponsored Article. Shutterstock.
The Rocky Mountain Institute (RMI) is banking on banks to get us over the carbon-neutral finish line by 2050. . 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. .
Tufton Street Links Politicians fronting the PopCon group have a history of working with anti-green think tanks and supporting more fossilfuel extraction. The UK government’s legally-binding target to cut carbon dioxide emissions to net zero by 2050 is part of international efforts to keep global warming below 1.5C.
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.
It feels almost quaint to remember way back when "80 by 50" — an 80 percent reduction in greenhouse gas emissions by 2050 — was a bold goal for a company or government entity to make. For those not yet up to speed, net zero refers to the goal of emitting no greenhouse gases by a specific date, typically 2050. Joel Makower.
The event aims to bring together policymakers and liquified natural gas (LNG), natural gas, and hydrogen players to explore new avenues for fossilfuel expansion. That means the contract ends in 2047, very close to what they perceive as a mandate to be carbon free by 2050,” he said.
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.
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.”
How can Australia get to net zero by 2050 while approving projects that will run for decades beyond that date? Those dates are rather beyond 2050 when we’re supposed to be at net zero emissions. No, not nuclear power. This approval “has effect until 30 June 2069”. Continue reading.
Transitioning most of our energy uses to clean electricity in an equitable manner is necessary to meet our 2050 climate goals. This likely means replacing nearly every fossilfuel-burning appliance with one that can run on electricity generated from clean sources such as wind and power. Alejandra Mejia. Thu, 12/10/2020 - 00:30.
Coal-fired power plant chimneys: In fast-growing economies, rapidly increasing energy demand is triggering investment in both low carbon and fossilfuel generation, leaving certain countries, including India and China, unlikely to reach net zero until much later. Progress across different sectors is varied.
Importance and Timelines – Hondas 2050 Zero-Emission Vision and the Role of Fuel Cells The significance of hydrogen fuel cell technology lies in its ability to tackle sectors that pure EVs cannot easily address. Honda has outlined ambitious goals to transform its entire product lineup toward zero emissions by 2050.
degrees Celsius and ensure we reach net-zero emissions by 2050 or sooner. . Turning taxpayer dollars into stranded fossilfuel assets is no way to fuel a real economic recovery. Even if many fossilfuel companies struggled financially for years before the pandemic, they are getting billions in federal aid.
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.
More than 100 billion tons of resources enter the economy every year — everything from metals, minerals and fossilfuels to organic materials from plants and animals. Use of resources has tripled (automatic PDF download) since 1970 and could double again by 2050 if business continues as usual. We would need 1.5
Norwegian state-owned oil and gas company Equinor, the North Sea’s largest fossilfuel producer, is positioning itself to play a key role in plans to turn Britain into a world leader in capturing carbon. Currently, this policy would lock the UK into using fossilfuel-based energy generation to well past 2050.”
Certification metrics include lifecycle greenhouse gas (GHG) emissions assessments to confirm that renewable hydrogen cuts emissions by at least 70% compared to fossilfuels. The regulation aims for an 80% reduction in shipping emissions by 2050, aided by mandatory RFNBO usage onboard vessels.
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