Remove 2023 Remove Fossil Fuels Remove Paris Agreement
article thumbnail

The Fossil Fuel Industry Continues Producing Heat-Trapping Emissions that Drive Climate Change

Union of Concerned Scientists

A new dataset released by InfluenceMap provides information on heat-trapping emissions traced to the 122 largest investor and state-owned fossil fuel companies in the world. Fossil fuels are the main driver of climate change and the terrifying effects of it that we see happening across the world.

article thumbnail

Good News—and Bad—about Fossil Fuel Power Plants in 2023 

Union of Concerned Scientists

Solar power is expected to make up about half of all additions of US electric generating capacity in 2023, according to data from the US Energy Information Administration (EIA). Compiled by UCS from Energy Information Administration data as of January 2023. The general outlook includes some good news and some bad news.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Will UN Climate Talks in Azerbaijan Deliver on Finance and Emission Reductions? 

Union of Concerned Scientists

That’s because countries previously agreed under the Paris Agreement that, by the end of 2024, they would decide on the new quantum of climate finance for lower-income countries, building on the previous target of $100 billion/year. A 2023 UN report estimates that the adaptation finance gap is about $ 194-366 billion per year.

article thumbnail

At COP28, Canada signs on to Joint Ministerial Statement on Fossil Fuel Subsidies 

Enviromental Defense

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 Fossil Fuel Subsidies , to address inaction on a 14 year old commitment to eliminate fossil fuel subsidies.

article thumbnail

Western Wildfires are Burning Through Local and State Budgets 

Union of Concerned Scientists

For years, fossil fuel 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 fossil fuel companies accountable. Source: Statista 2023.

article thumbnail

Oil Companies Plan to Take the Road Already Traveled

Union of Concerned Scientists

ExxonMobil’s early submission, though probably timed to get a head start on defusing climate-related shareholder resolutions, does give us a helpful roadmap of the climate accountability landscape in 2023. Heat-trapping emissions must be cut in half by 2030 to reach the Paris agreement goal of keeping global warming to 1.5

article thumbnail

Banks Continue to Prop Up the Fossil Fuel Industry

Union of Concerned Scientists

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 fossil fuel industry since its 2022 announcement that it would not finance new gas and oil infrastructure. degrees Celsius, or 2.7