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

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.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Here’s What We’re Asking Major Fossil Fuel Corporations at This Year’s Annual Meetings

Union of Concerned Scientists

At this year’s annual general meetings, major investor-owned fossil fuel corporations are facing fewer climate-related shareholder proposals than at any time since the adoption of the Paris climate agreement in 2015. Department of Justice to investigate the fossil fuel industry’s decades-long history of engaging in deceptive practices.

article thumbnail

These Attorneys General Are Defending the Fossil Fuel Industry, Not Their States

Union of Concerned Scientists

Attorneys general (AGs) in the five states most vulnerable to climate change, however, are doing the exact opposite: Instead of defending their constituents, they are defending the fossil fuel industry. Moody also jumped in head-first to protect the fossil fuel industry.

article thumbnail

Storm Elliott Knocked Out Fossil-Fuel Power. We’ve Been Here Before.

Union of Concerned Scientists

Utilities and grid operators prepared for the storm as it was coming down the pike, but they still underestimated the energy demand it would trigger, as well as the number of outages at fossil fuel power plants—mainly natural gas-fired, plus some coal-fired plants.

article thumbnail

Opinion: Donald Trump drills deep into the pocket of fossil fuel

A Greener Life

Especially since even some Republicans have begun to acknowledge the fact that renewable energy solutions are essential and that it’s time to pivot from fossil fuels — not to mention that, under the Biden administration, the US is already extracting fossil fuels at the highest rate in its history.

article thumbnail

Memo to JPMorgan Chase Shareholders: Stop Banking on Climate Chaos

Union of Concerned Scientists

Read on to learn why and how more than a thousand scientists issued an open letter urging JPMorgan Chase shareholders to vote in favor of a time-bound phaseout of financing for new fossil fuel development and exploration at the bank’s annual meeting on May 16. Those three alone borrowed more than $200 billion between 2016 and 2021.