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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.
Pressure on creatives: PR, advertising firms targeted by fossilfuel divestment movement. As fossilfuel companies' social license to operate becomes increasingly frayed, more industries in their orbit are getting entangled in the reputational quagmire that is now part and parcel of any activity that exacerbates the climate crisis.
The International Energy Agency's updated report covers everything from fossilfuel projections and earlier net-zero targets to heat pump policies and CCS prospects.
National policy requires planning decisions to give great weight to “conserving and enhancing landscape and scenic beauty” in AONBs. The outcome of the hearing could have significant implications for future on-shore fossilfuel projects going through the planning permission process. The decision will be reserved.
supported $1.316 trillion in transactions for the fossilfuel industry. received $37 million in compensation for fossilfuel industry lobbying. Climate lobbying" in the report is defined as efforts "to delay, control or block policies to tackle climate change.". Policy & Politics. Follow the money, indeed.
Greens make last minute commitment to vote for $22 billion Future Made in Australia policy under proviso no support would go to coal, oil and gas. The post Australia to reshape manufacturing base as Greens deal excludes fossilfuels from flagship industry policy appeared first on RenewEconomy.
That is around 3% of global fossilfuel CO2 emissions – far more than Australia’s greenhouse gas emissions at home that the national emissions target applies to. Coal and gas exports from Australia are equivalent to well over a billion tonnes of CO2 when burned in other countries. Continue reading.
Mark Kemp, the new President of the Association of Directors of Environment, Economy, Planning & Transport (ADEPT), has launched the group’s new Climate Change and Green Growth policy position. Climate change and green growth must be the key drivers across these policy areas.
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 motion recommends that the Toronto Transit Commission, more commonly known as TTC, decline any new ads from the Pathways Alliance and Canada Action , two of Canada’s most prominent fossilfuel marketing organizations. Toronto City Councillor Dianne Saxe introduced the anti-greenwashing motion on Sept.
over 11 weeks to “inform” and “guide” Australian energy and climate policy, despite its work for the world’s biggest fossilfuel companies. Sign up for Guardian Australia’s breaking news email Continue reading.
percent of the years global carbon dioxide emissions from fossilfuels, the report adds. They’re some of the most obstructive actors towards climate policy, Emmett Connaire, a senior analyst at the Carbon Majors project and one of the authors of the report, told DeSmog. The remaining 4 score only slightly higher at C-.
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
The push to quickly transition carbon-intensive activities away from fossilfuels while meeting the world’s growing energy needs has put electricity producers and consumers squarely in the forefront of the emerging clean economy. And the era of fossilfuels is hardly over.
billion invested in fossilfuels firms – including oil and gas majors Chevron, Shell, and Equinor – as of June 2023. DeSmog can also now report that one of the largest shareholders in Marshall’s hedge fund has extensive fossilfuel investments. As revealed by DeSmog, Marshall Wace had £1.8
An apocalyptic “meh” seemed to greet the government’s bumper package of energy- and climate-related policy announcements and documents released on 30 March, which appeared short on new ideas and sources of funding. A central plank was the policy paper “Powering Up Britain” , which presented plans for tackling energy security and net zero.
s leading anticancer groups has hired a network of lobbyists that also works on behalf of the fossilfuel industry, according to a new report. The American Cancer Society’s Cancer Action Network (ACS CAN), the advocacy arm of the American Cancer Society, shares lobbyists with 21 fossilfuel companies across 10 states.
Hydrogen can replace fossilfuels in combustion-heavy industries or power fuel cell vehicles without tailpipe emissions. However, most hydrogen produced today relies on fossilfuels, particularly natural gas, which compromises its environmental benefits. The promise of hydrogen is no longer just theoretical.
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.
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.
Labor introduces Future Made in Australia bill, but Coalition says it will oppose it and the Greens want guarantees fossilfuels won't be funded. The post Coalition says no to Future Made in Australia bill as Greens question fossilfuel funding appeared first on RenewEconomy.
It seems like energy policies are constantly making headlines these days. Is it time to end the tax breaks to Canadian fossilfuel companies and invest in renewable energy? Should Canada "axe the tax?" Are electric vehicles a good investment? Should governments put the brakes on solar panels and wind turbines?
Over the last year, the governing Conservative Party has watered down its support for the UK’s flagship 2050 net zero emissions target, and has enacted policies to increase fossilfuel extraction. million from fossilfuel interests, £5.7 Since the December 2019 election, the Conservatives have received £2.35
A new blueprint from Ceres, the Blueprint for Responsible Policy Engagement on Climate Change , lays out a science-based action agenda for companies in the U.S. First, advocate for science-based climate policy. This includes ensuring trade associations a company may belong to are not promoting policies that are not based on science.
Northern Territory government moves to strip environmental groups of funding and push through reforms to expand fossilfuel extraction. The post NT strips funding from green groups, boosts fossilfuels, in foretaste of Dutton administration appeared first on RenewEconomy. A sign of what's to come?
trillion of fossilfuel subsidies in 2022, and Australia gets a mixed review. The post Annual global fossilfuel subsidies jump to $1.7 Latest data shows that G20 countries alone provided $A1.7 trillion – just in the G20 appeared first on RenewEconomy.
Towns and cities are pushing ahead with ambitious climate policies, even as global collaboration on climate breakdown splinters. One flagship example is the proliferation of bans on advertising for highly polluting companies and products such as fossilfuels, airlines, luxury travel and SUVs.
Report finds volume of fossilfuel subsidies from G7 nations increased 15% between 2016 and 2023 with the US spending the most. The post Fossilfuel subsidies now more than $A2 trillion just in G7 countries appeared first on RenewEconomy.
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. Others engaging regularly with ministers on CCS policy include heavy manufacturing companies, CCS technology firms, lobby groups, and investment funds.
Moreover, using waste carbon to make chemicals also can reduce manufacturers’ reliance on fossilfuels such as crude petroleum and natural gas, an important factor, particularly for the European Union and China, given the volatility in sourcing and pricing of fossilfuels. Factors driving adoption. But the speed of U.S.
The post Labor caves in to fossilfuel cartel as it locks in gas beyond 2050 amid deepening climate crisis appeared first on RenewEconomy. 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 Regulator finds fossilfuel group engaged in greenwashing in defence of gas stoves appeared first on RenewEconomy. Regulator finds industry group breached Greenwashing Code with claims electric cooktops are more expensive and more emissions intensive than cooking with gas.
The post “Fossilfuel behemoth:” The climate cost of Australia’s bipartisan addiction to coal and gas appeared first on RenewEconomy. Successive Australian governments have overseen a massive expansion of gas and coal production over the last three decades, despite promises to act on climate.
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. . But pressure is mounting for the banks to overhaul their lending practices holistically.
Loans and investment fuel growth. Put simply, a bank’s capital can flow towards fossilfuels or renewable energy, towards local business loans or financing environmentally damaging projects. Why don’t more people choose to bank with climate-friendly retail banks that have clear environmental investment and loan policies?
Of 38 automotive industry clients, none support policies that align with Paris goals. WPP also has relationships with French oil giant TotalEnergies and the American Petroleum Institute , which is the chief lobby group for the fossilfuel industry in the United States. Holder’s analysis found that just 8 percent of U.S.-based
The firm is owned by Terence Mordaunt , a director and former chair of the Global Warming Policy Foundation (GWPF), the UK’s leading climate science denial group. 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.”
Fossilfuel interests spent millions of dollars in an effort to influence Colorado’s recent legislative session, a DeSmog analysis shows — and environmental advocates say the campaign helped to scuttle a raft of clean air bills. In Colorado, emissions from fossilfuel extraction and processing are a major contributor.
Intense lobbying from the meat and dairy industry since 2020 has helped weaken and stall crucial climate policies in the European Union, according to a new report from InfluenceMap.
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