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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.
It’s not just the poor air quality, long lines, and excessive fossilfuel company representation ; nations are still too far apart in their positions on a fossilfuel phaseout, the top priority for this COP. Yet global fossilfuel production and use continue to expand. Particulate matter (PM2.5)
Last week, I participated in the Scientists Speakout Day during the Summer of Heat on Wall Street , to protest and disrupt the financial institutions that are enabling the fossilfuel industry (and, as a result, our current climate crisis).
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 renewableenergy in order to effectively tackle the climate crisis, was both long overdue and extremely significant.
Union of Concerned Scientists’ (UCS) research shows that top fossilfuel producers’ emissions are responsible for as much as half of global surface temperature increase. The best solution: Replace fossilfuels with renewableenergy. The transition to 100-percent renewables is possible.
Countries will submit new commitments, or Nationally Determined Contributions (NDCs), required under the ParisAgreement over the coming months. Renewableenergy technologies are rapidly advancing, becoming increasingly competitive and, in many cases, becoming cheaper in cost and more efficient than fossilfuels.
Renewable projects can experience delays due to the country’s antiquated (and slow) system of connecting to the grid, as well as other reasons like permitting and transmission constraints. And fossilfuel power plants may not stick to their retirement schedules for a variety of reasons. A bit more on those reasons later.
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.
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.
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. The next round is due in February 2025.
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.
According to the forecast, while economy-wide CO 2 emissions decrease from 2022 to 2037 due primarily to the growth in renewableenergy replacing retiring coal plants, emissions do increase after 2037 from increased usage of natural gas. Renewableenergy generation increases faster than any other technology.
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. It’s worth delving into because it has some important implications for our clean energy future.
The world is already experiencing mounting dangerous climate extremes , the last eight years have been the hottest on record, and the current trajectory of heat-trapping emissions is wildly off-course from where it needs to be to meet the goals of the ParisAgreement.
The country will also target 5,000 kilometres of new transmission lines, an 8% reduction in overall energy demand, and one gigawatt (GW) of distributed generation, with the government putting the plan’s estimated costs at US$86.6 These targets represent a potentially significant shift in Argentina ’s energy mix.
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 renewableenergy sector experienced record growth in 2022 of 1%. But despite this, it did not shift the dominance of fossilfuels. They still account for 82% of the global energy supply according to the industry’s Statistical Review of World Energy released this week.
The joint appeal, which can be viewed here , calls upon financial service providers to take urgent and effective action to transition out of fossilfuel financing and to invest in renewableenergies and research for climate solutions. ” Stop all new fossilfuels projects.
Representatives from civil society, non-governmental organizations and the private sector gathered alongside governmental representatives to influence decisions and advance contributions toward the goals of the ParisAgreement of 2015. I was joined by Ocean Conservancy colleagues working to advance ocean-climate action. Offshore Wind.
Barclays and HSBC are two of the major banks which continue to fund fossilfuel investments. A report by ShareAction has delivered a damning verdict on European banks connection to fossilfuel investments. Major European banks at the heart of continued fossilfuel support. Photo credit: AFP / Getty Images.
Central to these questions is the role of fossilfuels, which have long been seen as the backbone of economic growth, but now threaten to interfere with international climate goals. That is now beginning to occur in many developed countries, which are increasingly looking at renewableenergy sources.
and Cuban governments could help to drive renewableenergy development in the island nation, in a manner that benefits the Cuban people as well as the interests of people throughout the region. Cuba’s power system is currently heavily reliant on fossilfuels. policy also has a significant impact on Cuba’s energy sector.
In just over a month, the most important climate talks since the ParisAgreement was signed will decide the fate of global climate action. Five years down the line, countries were scheduled to return to the forum and finalise a rulebook on how to implement the ParisAgreement. By Lou Del Bello. On the agenda at COP26.
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.”
As per the World Investment Report 2023, much of the growth in international investment in renewableenergy, which has nearly tripled since the adoption of the ParisAgreement in 2015, was concentrated in developed countries. Developing countries need renewableenergy investments of about US$1.7
That’s because countries previously agreed under the ParisAgreement 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. Clear follow-through on last year’s agreement transition away from fossilfuels.
The 2023 United Nations Conference of the Parties (COP28) marked the first Global Stock take to assess progress toward the ParisAgreement since its ratification in 2015 at COP21. This agreement calls on all Parties to contribute to doubling energy efficiency and tripling renewableenergy capacity by 2030.
According to the Intergovernmental Panel on Climate Change, fossilfuel production accounts for 35% of global greenhouse gas emissions. For the first time, Ocean Conservancy attended the annual International RenewableEnergy Agency (IRENA) Assembly to help advance a just clean-energy transition.
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
Governmental policies established as a result of commitments made in the Kyoto Protocol and the ParisAgreement have already successfully prevented the emissions of several Gigatons of CO 2 , targeting deforestation, energy efficiency, new technology deployment, and carbon accounting as their main mitigation efforts. Figure SPM.7
Despite a significant uptake of renewableenergy, India still relies on coal plants for more than half of its installed electricity supply. By Rejimon Kuttappan Along with a major expansion of renewableenergy, India is also pushing for big increases in its coal production, casting doubt on its climate commitments.
What to look for from COP28: For COP28 to be deemed successful, countries must agree on a binding commitment to phase out all fossilfuels, without loopholes, in an equitable manner. In addition, countries should also agree to the target of tripling renewableenergy and doubling energy efficiency by 2030.
Coal is the dirtiest fossilfuel. We have the technology to replace coal with cheaper, healthier, and cleaner renewableenergy. 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.
To achieve the long-term temperature goals of the ParisAgreement, countries need to rapidly reduce their reliance on fossilfuels and scale up the use of cleaner alternatives. A just energy transition requires that everyone must be able to reap the benefits and participate effectively and inclusively.
international climate change agreement. the ParisAgreement) that will require periodic, rigorous accounting and management of total national emissions. Equally exciting, in August 2016, the Seventh Circuit Court of Appeals upheld agencies’ ability under the Energy Policy and Conservation Act to include the.
C carbon budget set forth in the 2015 ParisAgreement, countries must reduce CO2 emissions in the entire [existing] built environment by 50-65% by 2030 and reach zero carbon by 2040. The built environment accounts for approximately 28% of global CO2 emissions and 40% of all U.
C carbon budget set forth in the 2015 ParisAgreement, countries must reduce CO2 emissions in the entire [existing] built environment by 50-65% by 2030 and reach zero carbon by 2040. This change follows statements issued at the 26th meeting of the Conference of Parties in Glasgow (COP26), indicating that for the world to meet the 1.5°C
Pakistan’s energy sector is dominated by fossilfuels. According to the country’s Finance Division , as of April 2022, just under 60% of total installed generation capacity used fossilfuels, including gas, oil and coal. Just 3% of generated electricity in the 2022 fiscal year came from non-hydropower renewables.
Fossilfuels alone – coal, oil and gas – account for over 75% of global greenhouse gas emissions. Anything short of that is rich countries exploiting the situation even further. While this is no small goal by itself, the hosts will also have to deal with the outcomes of the first-ever global stocktake , which will conclude at COP28.
Coming on the heels of the powerful ‘ March to End FossilFuels’ last weekend, this summit continues the pressure on governments to meet the urgency of the moment. To deliver on the goals of the ParisAgreement—limiting warming to well below 2 degrees Celsius and as close to 1.5 What are the major goals of the summit?
Countries committed to a principle of fairness when they signed the ParisAgreement in 2015, acknowledging that those who have profited for decades from oil, gas and coal had a responsibility to deliver funds to the countries least responsible, yet most impacted by climate change.
In 2023 for the first time, CO2 emissions produced from Canada’s fossilfuel exports surpassed a billion tonnes, at 1,030 million tonnes, significantly eclipsing the country’s domestic emissions estimate of 702 million tonnes for the same year. Yet Canada’s oil and gas production and exports continue to grow.
Second Circuit Rejected Challenges to Connecticut RenewableEnergy Programs. Allco is an owner, operator, and developer of solar energy projects throughout the country, including in Georgia and New York. State Air Resources Board , No. S241948 (Cal. June 28, 2017). PricewaterhouseCoopers LLP , No. 451962/2016 (N.Y.
This year, we yet again witnessed the dramatic consequences of the world’s continued burning of fossilfuels, such as hurricane Debby in Quebec, the wildfires in Jasper, and the flooding in southern Ontario. Before the ParisAgreement was signed in 2015, the world was on track for a catastrophic four degrees of warming.
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