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Climate Week events highlighted commitments and actions needed from the financial sector and other corporations to support and spur government ambition. Climate Week events highlighted commitments and actions needed from the financial sector and other corporations to support and spur government ambition. As usual, it was a mixed bag.
This year has brought new evidence of what major fossilfuel companies knew and when about the role their products play in climate change, as well as what they did in spite of what they knew. They enable us to strengthen our balance sheet and high grade or diversify our portfolio.
Yet, driven by vested interests in the fossilfuel industry , misleading narratives aim to distort and hinder meaningful climate commitments. Fossilfuels are the problem It’s pretty simple: the burning of fossilfuels is the main driver of climate change. billion tons of the 40.5
Fossilfuel power plant owners are facing increased accountability for their air and water pollution, including from a new round of environmental and public health protections that are being rolled out by the US Environmental Protection Agency (EPA). We’ve heard these lazily disingenuous narratives before.
Installations of commercial solarsystems on businesses, schools, and government buildings, for examplewere potentially 13% higher in 2024, per Wood Mackenzie. 2024 also saw many fruits of federal policy, notably the 2022 Inflation Reduction Act , including tax credits for households, businesses, and renewable energy project owners.
And fossilfuel power plants may not stick to their retirement schedules for a variety of reasons. Note: this is adjusted for inflation to 2022 dollars and is based on the amount those plants emitted in 2021, the EIA’s most recent year of finalized data. A bit more on those reasons later. What can be done?
New analysis from Environmental Defence reveals that despite federal government promises, funding to the fossilfuel and petrochemical industries remains high Ottawa | Traditional, unceded territory of the Algonquin Anishinaabeg People – New analysis released today by Environmental Defence reveals Canada’s federal government provided at least $18.6
The Year in Water, 2022. Sharpening the Shark’s Teeth By Brett Walton, Circle of Blue – December 13, 2022. The strength of the shark’s teeth and the breadth of the bite were on full display in 2022. Though vivid, the shark metaphor is an inadequate frame for some of 2022’s defining water stories. Brett Walton.
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: Statista 2023.
Earlier this month the Government of Canada delivered on a key climate promise and released new rules which end public funding for fossilfuels abroad, starting January 1, 2023. If all signatories follow through on their pledge with integrity, it will directly shift $38 billion a year from fossilfuels to clean energy. .
Last week, the federal government showed some much-needed climate leadership at COP26, the United Nations Climate Change Conference in Glasgow. 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.
The shift from fossilfuels in the 100% RES scenario reduces the amount of harmful air pollution from power plants much more than in our “No New Policy”/business-as-usual scenario. Similarly, communities now tied to fossilfuels need support in moving beyond that dependence. And our modeling shows renewables’ power.
It also will save US consumers money because they will spend less on fossilfuels. First, decarbonizing the electricity sector mainly with wind and solar to replace coal and fossil gas. Second, replacing fossilfuels with clean electricity in the transportation, building, and industrial sectors.
In Bolivia, the rising price of gold is fueling a boom in illegal, small-scale mining – activity that is polluting rivers in the South American country. According to Reuters, government officials have been threatened and attacked when visiting illegal mining areas in Bolivia’s Amazon region.
October 4, 2022. The move represents a lifeline for fossilfuel use in a decarbonizing energy grid. One in 20 tests performed by the city’s water department detected the toxic metal at concentrations exceeding government limits for drinking water. October 11-13, 2022: Great Lakes Commission Annual Meeting – register.
On April 28, 2022, the California Attorney General launched an investigation into the “fossilfuel and petrochemical industries for their role in causing and exacerbating the global plastics pollution crisis.” See our previous coverage on the NY and MA AG’s investigations.
Will the City of Ottawa ban fossilfuel promotion in City facilities? Fossilfuel advertisements indeed contradict the City’s policies on climate. City Council declared a climate emergency in 2019 and committed to a full phase-out of fossilfuels by 2050. It’s possible. And who knows?
That would be the straw man erected by defenders of the fossilfuel industry who claim that facing climate change is a doctrinaire liberal policy. This year, many on the far-right are attempting to rebrand Environmental, Social and Governance (ESG) investing as “woke capitalism.”
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.
Egregiously, even as climate-driven disasters leave communities reeling, private insurers are continuing to underwrite insurance for the expansion of massive new fossilfuel projects that are directly responsible for fueling the climate crisis—and show no sign of withdrawing from these markets!
Across the United States, 80 cities and counties have adopted policies that require or encourage the move off fossilfuels to all-electric homes and buildings.
The Pathways Alliance’s multi-million dollar “Let’s Clear the Air” ad campaign, which began in 2022, is currently being investigated by the Competition Bureau for greenwashing. These fossilfuel companies continue to fuel destructive climate change, and their rebranding campaign does not change that fact.”
Many of my colleagues have already described the various ways we’ve gotten into this elevated fuel price mess, why doubling down on fossilfuels at this moment is a horrible idea, and why doing so would not improve our current or future economic, geopolitical or environmental problems. How Did We Get Here?
The 2022 danger season brought disruption and death in the form of extreme heat, floods and fire weather, not to mention hurricanes. Hurricanes in 2022. For 2022, the National Oceanic and Atmospheric Administration (NOAA) predicted a season with above normal activity on its August 4 updated forecast , calling for 14-20 named storms.
Questioning fossilfuel companies is part of our mission, but each year the Union of Concerned Scientists (UCS) gets a chance to aim some choice words directly at corporate leaders during their annual shareholders’ meetings. million last year to pump out disinformation about California’s energy policies.
At last year’s COP, world leaders collectively agreed to transition away from fossilfuels – an indication they are ready to stop fueling the fire. That was first successfully delivered only in 2022. Wealthy, historical emitters have to pay what is due. An extension of negotiations through the weekend is possible.
For example, the average duration of blackouts in Puerto Rico between April 2023 and March 2024 was 1,414 minutes, or almost 24 hours (the average in the United States in 2022 was almost 6 hours). Back then, those contracts were canceled by the Puerto Rican government for failing to improve service and meet minimum performance standards.
Both fossilfuel and utility companies bear some responsibility for wildfires’ damage, and must be held accountable to ensure disadvantaged and low-income communities aren’t left to shoulder the costs and impacts of these disasters. Emissions traced to fossilfuel companies, on the other hand, have contributed to 19.8
Germany is expected to increase its fossilfuel consumption for electricity generation in 2022, if its weather conditions and electricity demand are similar to 2021, a new analysis from Environmental Progress finds. Emissions from Germany’s power sector could thus rise from 244 million tons in 2021 to 264 million tons in 2022.
But the scientific and technological advances that made these technologies competitive with fossilfuels are much more recent. One thing you’ll notice is the importance of government-funded research and deployment incentives in helping to launch the solar and wind sectors. Early windmills developed in Persia. generation.
They accounted for most of the failed generating capacity in a number of recent extreme weather events, including Winter Storm Uri in 2021 and Winter Storm Elliott in 2022, according to Gas Malfunction , a new Union of Concerned Scientists (UCS) issue brief. percent higher than the number of wealthier residents, according to a 2022 UCS study.
In December, the Treasury Department and the Internal Revenue Service proposed regulations governing implementation of the 45V Clean Hydrogen Production Tax Credit , passed as part of 2022’s Inflation Reduction Act. In particular, emissions loopholes related to biomethane and fugitive methane (i.e.,
The reason given for the 2022 withdrawal (lobbying reports lag by a year) is IPAA’s “misalignment” with ExxonMobil’s stated goal of “helping society achieve its ambition for a net-zero future.”
But a March 2022 analysis from the investor consortium Climate Action 100+ determined that no major oil company was on track to meet the Paris goals. Companies are spending millions fighting lawsuits that would hold them accountable for the costs that fossilfuel extraction has imposed on people and the planet.
That’s a really good thing given the central role we expect and need solar to play in a just transition away from fossilfuels. The industry is projecting the US sector to grow by 32,000 megawatts this year—50 percent more than in 2022, and enough to increase solar’s portion of the US electricity supply to well more than 6 percent.
Statement from Julia Levin, Associate Director, National Climate Dubai, UAE – Today at COP28 Canada joined eight other countries in signing a Joint Ministerial Statement on FossilFuel Subsidies , to address inaction on a 14 year old commitment to eliminate fossilfuel subsidies.
Unfortunately, the very source of the TVA’s grid failure during Winter Storm Elliott in the winter of 2022 is the same source of energy that the TVA is now doubling down on : gas. Note: “Natural gas” is an industry misnomer; UCS considers methane, fossil gas, and gas to be much more appropriate terms for this energy source.)
California’s LCFS is causing problems for other states and the federal government. The LCFS is designed to hold fuel producers accountable for their supply chain emissions The LCFS and related Clean Fuel Standard policies are performance standards for transportation fuel based on lifecycle analysis.
However, great opportunities for more new clean energy supplies to replace fossilfuel energy need supporting grid investments. Transmission policy is vital to supplying grid modernization, and some state governments see their role in planning ahead for the grid we need. Where do we go for that modern infrastructure?
The fossilfuel industry has systematically contaminated our environment with a wide range of toxic chemicals for over a century. The gasoline, diesel and jet fuel used by our dirty transportation system is what makes up the majority of refinery products: gasoline, diesel and jet fuel account for 84 percent of refinery products.
Federal government releases new policy aimed at ending international public financing for fossilfuels, next step is ending domestic financing . The Government of Canada estimates that this policy will redirect $2.5 billion in fossil financing towards accelerating the urgent implementation of climate goals.
In 2023, they had at least 1,255 lobby meetings with the federal government. It highlights the most active fossilfuel companies and industry associations, as well as the Members of Parliament, ministries and ministers targeted for lobbying. That means Big Oil lobbied Parliament nearly five times per working day.
Despite ongoing COVID constraints on the economy, global fossilfuel consumption rebounded after its collapse in 2020. However, they promised to come back in 2022 with better plans. Our top ten predictions for the environment in 2022: 1. 2022 is the year this is supposed to happen. of global heating.
When all is said and done, lower resource adequacy requirements could theoretically reduce utilities’ reliance on fossilfuels and reduce the cost of resource adequacy requirements for ratepayers. Governance would expand beyond state borders. It would change Western energy markets.
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