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trillion in subsidies in 2020 — or roughly $11 million every minute — according to a new analysis from the International Monetary Fund. Coal, oil, and natural gas received $5.9 Read more on E360 ?.
After the hottest summer on record, the world continues to witness extreme weather fueled by the burning of fossilfuels. We need to stop burning fossilfuels immediately. Thankfully, we are in the midst of a much-needed transition away from fossilfuels and towards a future powered by more renewables.
Earlier this year, The Guardian ran a powerful article exposing the ties of Elsevier, one of the world’s largest academic publishing companies, to the fossilfuel industry. The article caught my attention because I’d never considered the ways in which an academic publisher might be perpetuating and enabling a fossilfuel economy.
Scientists are sounding the alarm because this warming is shockingly bigbigger than what we would have expected given the long-term warming trend from fossilfuel-caused climate change. Meanwhile, sharply cutting our use of fossilfuels is the best way to limit carbon dioxide (CO 2 ) emissions, the primary driver of climate change.
In a new study released today, UCS attributes substantial temperature and sea level rise to emissions traced to the largest fossilfuel producers and cement manufacturers. Every delay in phasing out fossilfuels will burden future generations who need to adapt to rising seas and recover from loss and damage due to sea level impacts.
Replacing fossilfuels with renewable energy from wind and solar will depend on upgrading the electric power grid, which is currently plagued by planning delays and gridlock. The 2021 law allows, but does not require, PJM to plan ahead because various fossilfuel plants must reduce and then cease emissions by a specific date.
The latest data from the US Energy Information Administration (EIA) suggests that solar large and small may have generated 27% more in 2024 than in 2023, and that solar might have accounted for 7% of US electricitymore than double its contribution in 2020. Cumulative US utility-scale battery power capacity.
The aim of the EU is to try to stop fossilfuel companies suing states over climate action. So far there have been two rounds of negotiations over a new text between the EU and the Energy Charter Treaty and a third round of negotiations is running until 6 November 2020.
According to his research, homeowners in the US saw their annual insurance premiums increase by an average of 33% or $500 between 2020 and 2023. And, in an outrageous contradiction, the insurance industry continues to insure the build-out of fossilfuel infrastructure!
To underscore the negative impacts of fossilfuels on our grid, I also pointed to key research around resilience. With a robust climate plan, Wisconsin utilities would have to look beyond their legacy preference for fossilfuels and consider cleaner, cheaper, and more reliable alternatives.
Last spring, we released a report – Paying Polluters: Federal Financial Support to Oil and Gas in 2020 – that revealed the federal government announced a minimum of nearly $18 billion to the oil and gas sector in 2020. billion in 2020 through CEWS. This measure resulted in $20 million in foregone revenue in 2020.
After 30 years of international negotiations failing to mention the root cause of the climate crisis, the acknowledgement that we must phase out all fossilfuels and massively scale up renewable energy in order to effectively tackle the climate crisis, was both long overdue and extremely significant.
The pledge is a voluntary agreement to reduce global methane emissions by 30 percent below 2020 levels by 2030; however, methane levels keep going up and we are woefully off track for meeting this goal. Their use of these tactics underlie the calls to hold both the fossilfuel and meat and dairy industries accountable for their actions.
Since the summer of 2021, five Republican-controlled state legislatures have passed bills banning their state governments from doing business with financial institutions that they allege have divested from fossilfuel companies as a result of ESG investment policies. Another six statehouses are considering similar bills.
Union of Concerned Scientists’ (UCS) research shows that top fossilfuel producers’ emissions are responsible for as much as half of global surface temperature increase. Updated analysis from 2020 shows that emissions traced to the 88 largest carbon producers contributed approximately 60 percent?of
New research from the International Renewable Energy Agency (IRENA) confirms renewables are continuing to outpace fossilfuels on cost. They found that the share of renewable energy that achieved lower costs than the most competitive fossilfuel option doubled in 2020. Beyond the tipping point of coal.
Now the reports driven by these resolutions are beginning to roll in, and while they certainly provide some insight into the fossilfuel industry’s investment in political influence, a sleight of hand is preventing investors from seeing the companies’ full strategy. ExxonMobil Names Names. The organization received between $2.5
Two-thirds of the G20’s public finance for energy went to fossilfuels in 2019–2020. The G20 group of nations provided nearly US$200 billion in support of fossilfuels in 2021, despite the worsening impacts of the climate crisis and their pledge in 2009 to phase out “inefficient” subsidies. By Catherine Early.
This move represents massive backtracking on Canada’s efforts to move beyond thermal coal the dirtiest fossilfuel. For more information: In July 2020, former Environment Minister Wilkinson designated the expansion project for federal impact assessment. It has no place in the 21st century.
From 2010 through 2020, the cost of electricity from wind fell more than 60 percent, according to the Department of Energy. Wind power is now cheaper than fossilfuels—even existing coal plants—in many parts of the country. Wind power is a bargain. An important part of wind power’s success in recent years has been its low cost.
For years, fossilfuel companies have socialized the costs of their pollution while privatizing the benefits. Since local and state governments are on the frontlines of paying for worsening wildfires, they should also be on the leading edge of holding fossilfuel companies accountable. Source: CCST 2020.
If honored, this commitment will likely unseat Canada as the worst-ranking in the G20 for international public financing to the fossilfuel sector. . This means while EDC’s overall fossilfuel support was CAD 13.6 Shifting public finance for energy out of all fossilfuels and into clean energy is an urgent task.
Joining an ever growing list of countries from around the world, Canada pledged to end public financing for overseas fossil-fuel projects in 2022 and instead prioritize the clean energy transition. This sends an important signal to investors and people around the world that the sun is setting on fossilfuels.
According to the Energy Information Agency , South Korea’s power sector is heavily reliant on fossilfuels. Two thirds of generation capacity is based on fossilfuels, split evenly between coal and natural gas, with 17% nuclear, and 14% hydro and other renewables. 50% coal, 26% gas, and 25% nuclear.
It turns out that most of them are 50-60% reliant on fossilfuels, with a lot of the remainder coming from nuclear and hydro. This table shows how much power is generated from fossilfuels by the top ten utilities (ranked by market value). There was more fuel oil in use in some places than I expected. Carbon Goal.
As a reminder, China has made five key climate announcements since late 2020. In September 2020, Xi Jinping announced goals to peak emissions before 2030 and to achieve carbon neutrality before 2060. C target, but that it would require essentially immediate peaking and much faster coal and other fossilfuel phase-out timelines.
Rooftop solar costs in 2020 were a third of what they had been in 2010. In 2020, the cost of single-axis utility scale solar was only a fifth of what it was in 2010. Cheaper renewable energy attracts private investment and makes limits on fossilfuels more feasible. Wind power costs fell by half from 2008 to 2021.
Some of those, such as the public health and climate benefits, depend on the clean energy displacing the dirty stuff—avoiding increases in fossilfuel generation or, even better, displacing existing generation. Renewables (including small solar) had squeaked past coal in 2020, before a rebound put coal back on top the following year.
It issued five Flex Alerts in 2020, eight in 2021, but there’s only been one so far this year. For example, the two rotating blackouts in August 2020 occurred during energy supply shortages that happened at 6:38 to 7:40 p.m. When grid conditions are tight, California’s grid operator issues Flex Alerts. and 6:28 to 6:48 p.m.
At last year’s COP, world leaders collectively agreed to transition away from fossilfuels – an indication they are ready to stop fueling the fire. Without sufficient climate finance for developing countries, the Paris Agreement’s goals of a safer planet will be out of reach.
The ruling came about as the green groups Greenpeace Norway and Nature and Youth filed a lawsuit asking the Oslo District Court to block the development of the fields, citing a failure to consider the impact of the future use of all the extracted fossilfuels on the global climate through the emissions they will release.
The pledge is a voluntary agreement to reduce global methane emissions by 30 percent below 2020 levels by 2030. Methane emissions come from two main sources : fossilfuels and agriculture—primarily animal-based agriculture. At COP27, 636 registered attendees are lobbyists for the fossilfuel industry.
The European Commission reported today that renewables generated more electricity than fossilfuels in Europe for the first time in 2020, generating 38% of EU’s electricity, compared to 37% of fossilfuel-powered energy. Read the full story at ESG Today. Read more →
Our experts will be able to provide insight on the negotiations at COP29 – including on issues related to climate finance, the energy transition and fossilfuel subsidies. Our team will also be tracking the participation in the negotiations and proceedings by the Government of Canada, provincial leaders, and oil and gas lobbyists.
The 2020 Maine Fishermen’s Forum was the last conference I and many others attended before the pandemic shutdown. GOM communities, not fossilfuel interests, should determine policies that affect GOM people. It was the first weekend in March, and I recall people even then were unsure of offering a handshake or a fist bump.
What are the physical limitations of this fossilfuel resource that make it vulnerable during, say, summer droughts , or the types of extreme heat waves the world has been experiencing for months now? The rolling blackouts took place two nights in a row on August 14 and August 15, 2020.
Fire suppression costs, alone, more than doubled from below a half billion in 2020 to over $1.2 In fact, there couldn’t be a better time to borrow money as interest rates have plummeted over the last few months to the lowest point in many years. At the same time, the costs of inaction are rising. billion in 2022.
It doesn’t make financial sense for many coal plants stay open due to competition from more affordable clean resources —such as wind and solar—as well as from other fossilfuel power plants, such as those fired by methane gas. This ongoing PUCO proceeding is specific to the costs of operating the two coal plants in 2020.
Yaw announced the introduction of legislation prohibiting the distribution of Act 13 impact fees to any county “that is actively suing over fossilfuel use.” Read more here. Although not yet introduced, Sen. Read more here. Read more here. 16 [PaEN] -- EPA Files $4.2
The primary cause of accelerating sea level rise is human activity As people burn fossilfuels and emit heat-trapping gases like carbon dioxide, our atmosphere and our oceans warm up. On average, over the 1993-2020 period, sea level has risen more quickly along the coastline of the contiguous United States than it has globally.
But solar is the big winner here, with it’s share of total US capacity increasing from 7% in 2020 to 29% in 2050. Capacity factors for existing natural gas combined cycle plants are cut in half, from nearly 60% in 2020 to below 30% in 2050. EIA also recently reported that US coal exports increased 23% between 2020 and 2021.
While there is enormous potential for UN climate negotiations to transform climate action, meaningful progress has been delayed in part by the fossilfuel industry’s deceptive tactics. Last year’s COP was notable as the first to explicitly mention “fossilfuels” in the final decision document.
For decades the fossilfuel lobby has masterfully weakened, derailed, and outright blocked government climate policy. The fossilfuel lobby meddles with Canadian politics and inserts itself into international climate change politics and diplomacy. The biggest barrier to climate action in Canada is the oil and gas lobby.
We can look first at the scope of coverage: Last year, mentions of “climate change” and “global warming” in global media were up 38% over 2020, making it the year with the second-highest climate coverage overall. The state’s complaint borrows the same frame, as “the road not taken.”
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