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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. trillion per year by the 2030s.

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We Need an Agreement to Phase out Fossil Fuels at COP28

Union of Concerned Scientists

It’s not just the poor air quality, long lines, and excessive fossil fuel company representation ; nations are still too far apart in their positions on a fossil fuel phaseout, the top priority for this COP. Yet global fossil fuel production and use continue to expand. Particulate matter (PM2.5)

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Progress Possible at COP 28 Despite Fossil Fuel Industry Deception

Union of Concerned Scientists

Last week, I joined my colleagues at COP28 in Dubai , as negotiators and civil society push for a fossil fuel phaseout to meet climate goals. The industry is pushing a narrative that misleadingly calls out emissions , not fossil fuels as the problem. Source: IPCC Sixth Assessment Report.

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World Leaders Must Protect UN Climate Talks from Fossil Fuel Industry Interference

Union of Concerned Scientists

One of the most crucial indicators of success will be whether the nations of the world reach agreement on a fast and fair phaseout of fossil fuels. Progress on this front depends on protecting the negotiations—and national and subnational policies based on them—from fossil fuel industry interference. I was wrong.”

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In the Race for Clean Energy, the United States is Both a Leader and a Laggard—Here’s How

Union of Concerned Scientists

Announcing recently that the world broke a record by generating 30 percent of all electricity from renewable sources in 2023, the British think tank Ember said the data proves we are in a “new era” of energy in which a permanent decline in fossil fuels is “inevitable.” More on that shortly. But first, the undeniably good news.

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Grid Investments are Critical to Our Clean Energy Future

Union of Concerned Scientists

Last November, the Union of Concerned Scientists (UCS) released an interdisciplinary study exploring the various pathways to meeting US goals to cut heat-trapping emissions economywide 50 to 52 percent below 2005 levels by 2030 and achieve net-zero emissions no later than 2050. The good news? Let’s dig into it a bit.

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

Union of Concerned Scientists

With the clean energy transition already under way, the US electricity mix is set to continue changing this year. 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). I’ll start off with the good.