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A new dataset released by InfluenceMap provides information on heat-trapping emissions traced to the 122 largest investor and state-owned fossilfuel companies in the world. Fossilfuels are the main driver of climate change and the terrifying effects of it that we see happening across the world.
In the study, we found that political power dynamics shape international negotiations, that the ParisAgreement temperature goal doesn’t fully account for the dangers of sea level rise, and that climate justice requires fully considering diverse views and experiences of climate change. they would experience 1.2 times the global mean.
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.
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?
When countries signed on to the 2015 ParisAgreement, they made initial voluntary commitments (the so-called Nationally Determined Contributions or NDCs) to reduce their heat-trapping emissions, and agreed to revisit them every five years to reflect the “highest possible ambition.” (see of the ParisAgreement ).
Under the 2015 ParisAgreement, the United States voluntarily pledged to reduce its global warming emissions at least 50 percent below their 2005 levels by the end of this decade and reach net-zero emissions no later than 2050. It also will save US consumers money because they will spend less on fossilfuels.
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.
Right in the middle of Danger Season , we are going through a period of unprecedented global extreme temperatures driven by fossil-fueled climate change. C above preindustrial levels, the limit that island nations and allies fought for so hard in the ParisAgreement. (It It is important to note that the 1.5°
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.
They just released their 2022 “Annual Energy Outlook” (AEO), which is a big deal: it tells us where electricity is headed over the next 30 years. Source: US Energy Information Administration, Annual Energy Outlook 2022 (AEO2022). Source: US Energy Information Administration, Annual Energy Outlook 2022 (AEO2022).
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.”
There is still much we can do to bend that emissions curve sharply within this decade—but only if world leaders, especially leaders of richer countries and major emitting nations, take responsibility to act together quickly and fossilfuel companies are held accountable for their decades of obstruction and deception.
However, as we replace fossilfuels with clean electricity for heating and transportation to meet our climate goals, these peak demands will increasingly shift to the winter in many parts of the country. Decarbonizing the power sector also plays a critical long-term role by replacing fossilfuels in other sectors.
A 2022 Rainforest Action Network repor t found that “fossilfuel financing from the world’s 60 largest banks has reached USD $4.6 trillion in the six years since the adoption of the ParisAgreement, with $742 billion in fossilfuel financing in 2021 alone.” trillion or 6.8
Background Japan has heavily relied on the use of fossilfuels for its power generation. According to the Japanese Agency for Natural Resources and Energy, the countrys fossilfuel dependency was 83.2% This blog post provides an overview of those cases and the broader landscape of climate litigation in Japan.
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.
And they’re preventing efforts to build a healthy, equitable world beyond fossilfuels. That’s why we’ve included them in our brand-new campaign that names and shames the key players in the fossilfuel industry who are guilty of fueling climate chaos and the tactics they use to greenwash and misinform us all.
By Anders Lorenzen The renewable energy sector experienced record growth in 2022 of 1%. But despite this, it did not shift the dominance of fossilfuels. 2022 was dominated by turmoil in energy markets , as Russia’s Invasion of Ukraine helped to boost gas and coal prices to record levels in Europe and Asia.
There’s a direct line of culpability between fossilfuel corporations and climate change – it’s why so many oil and gas CEOs have topped our list of Climate Villains. But they aren’t the only powerful players who shoulder responsibility for keeping us hooked on fossilfuels, the largest source of greenhouse gas emissions.
Canada coming up so short is one of the reasons why rich, industrialized countries continue to fail to deliver on the $100 billion per year in assistance for developing countries to address climate change, a commitment first made 12 years ago and reiterated in the 2015 ParisAgreement. Finally F-words: fossilfuels.
Canada promised to cut its greenhouse gas emissions after the 2016 ParisAgreement. It was part of the global agreement where 195 countries all agreed to reduce their emissions, and Canada has set this promise into law. However, we have heard that the government wants to label fossilfuels as green under this new system.
Unfortunately these energy scenarios become a self-fulfilling prophecy: the CER misdirects investment into fossilfuels, which in turn locks in the dangerously high levels of fossilfuel demand and supply that its scenarios project.
Lawyers, bar associations, and law societies have an important but not fully recognized role to play in achieving the net zero goal in the ParisAgreement. In 2022, the United Nations released a special report focusing on the role of nonstate actors, including law firms, in reducing greenhouse gas emissions. In the U.S.,
On May 6, 2022, the Citizens’ Committee on the Kobe Coal-Fired Power Plant filed an appeal to Japan’s Supreme Court in Citizens’ Committee on the Kobe Coal-Fired Power Plant v. Japan’s dependency on fossilfuel s had been slightly declining until 2010. As of May 2022 , there are 163 operating coal-fired power plants in Japan.
The world is moving away from fossilfuels. With renewable energy, like solar and wind, becoming cheaper and easier to scale up, there has never been a better moment for governments to transition away from the fossilfuel industry and its destructive impacts on the environment, the climate and communities.
The district court had granted Milieudefensies claims for a reduction target of 45% by 2030, leading to Shells appeal in 2022. This leads to an important distinction between fossilfuels specifically produced or merely traded by Shell, as discussed in more detail below. Shell recognizes this carbon lock-in effect as well.
This official inner circle is now doing the business of the three separate international treaties in force for climate change: the 1992 Framework Convention on Climate Change (FCCC), the 1992 Kyoto Protocol (Yes, it still exists and is in force, although the United States is not a party), and the 2015 ParisAgreement.
These ‘climate villains’ are expanding and financing climate-wrecking fossilfuel production, blocking climate action, and spreading disinformation. In 2022, RBC provided more financing to oil and gas companies than any other bank in the world. Dave McKay, head of RBC, is also included.
degree C of warming by 2100 as opposed to the ParisAgreement aspiration of 1.5 Among those contradictions is the need to wean society off fossilfuels versus the desire for short-term economic gain. That draft called on “Parties to accelerate the phasing-out of coal and subsidies for fossilfuels.”
Cuba’s power system is currently heavily reliant on fossilfuels. In 2022, fossilfuels accounted for about 95% of electricity generation, and about 48% of the fossilfuels used were imported, putting the country at high risk of price shocks and supply shortages.
For instance, mortgages are connected to homes, while fossilfuel finance is tied to infrastructure like pipelines, oil wells, and the reserves still in the ground. Up to $4 trillion of fossilfuel assets are at risk of being stranded, with $100bn at risk in Canada by 2036. However, Canada is falling behind.
The key findings are: The investments of the Pathways Alliance members remain overwhelmingly concentrated on oil and gas and are not aligned with ParisAgreement goals. Over the last four years (2019-2022), they collectively invested at least CAD $47.3 billion (USD $34 billion) in their fossilfuel operations.
In neither of these scenarios does Canada actually meet its 2030 emission reduction target under the ParisAgreement or achieve net zero emissions by 2050 – both of which are legal commitments. Canada’s oil and gas sector is by definition 0% decarbonized – fossilfuels are hydro carbons.
The Pittsburgh 2030 District , a project of the Green Building Alliance , has released its 2022 Progress Report , revealing District property partners have reduced carbon emissions by 44.8% below baseline. The District will continue to pursue zero carbon emissions by 2040. The District will continue to pursue zero carbon emissions by 2040.
The latest IPCC climate report, Climate Change: The Physical Science Basis is the first instalment of the Sixth Assessment Report (AR6), with the remaining three reports to be released during 2022. degrees C threshold in the next decades which countries had agreed as the desirable target in 2015’s ParisAgreement. Unprecedented.
Last month, the British-based Bureau of Investigative Journalism (TBIJ) reported that London-based HSBC, one of the world’s top-10 biggest banks, has helped raise $47 billion for the fossilfuel industry since its 2022 announcement that it would not finance new gas and oil infrastructure. degrees Celsius, or 2.7
Alberta: Speak Up For a SAFE Climate: Take Action Here How Climate Action Makes Life More Affordable Renewable energy, including solar and wind power, is much cheaper and less polluting than burning fossilfuels such as natural gas, oil and coal. A stitch in time saves $32 trillion.
2022: What Does the Latest IPCC Report Say? Recent findings from the World Meteorological Organization predict a 50:50 chance at least one year between 2022 and 2026 will exceed 1.5°C Based on the lifetime of currently operating fossilfuel power plants and planned plants, it is highly likely global warming will exceed 1.5°C
2022 Flooding in Pakistan. In the 2015 ParisAgreement , Article 8 acknowledged the importance of L&D and the accompanying decision 1/CP.21 Germany introduced the proposal in March 2022, initially as a pilot partnership with 5 to 10 highly climate-vulnerable countries.
As per the World Investment Report 2023, much of the growth in international investment in renewable energy, which has nearly tripled since the adoption of the ParisAgreement in 2015, was concentrated in developed countries. ” Available at SSRN 4198146 (2022). Kedward, Katie, Daniela Gabor, and J. Ryan-Collins.
At COP28 , on 9 December, India’s environment and climate change minister Bhupender Yadav affirmed the country’s “trust and confidence” in the ParisAgreement , whilst highlighting the country’s achievements in emissions reduction. million tonnes, rising to 1.025 billion tonnes by 2031-2032.
On March 2, 2022, the United Nations Environmental Assembly (UNEA), meeting in Nairobi, Kenya, agreed on a resolution under the name “End plastic pollution: Toward an internationally legally binding instrument,” which was the first major international step in addressing the plastic pollution emergency. What has happened since?
Coal is the dirtiest fossilfuel. Let’s make 2022 the last year that Canada exports thermal coal . degree goal of the ParisAgreement. For Canada to truly be a world leader on thermal coal, we must move quickly to stop exporting the dirtiest fossilfuel.
The first week of July 2022 brought on several major developments in climate litigation in the Netherlands, with possibly significant ramifications for a new type of global climate litigation. C” target of the ParisAgreement. By Marlies Hesselman*. The new Dutch case , FossielVrij NL v.
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