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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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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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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). gigawatts (GW) of planned solar projects expected to come online this year is almost double the previous 13.4 Solar” only includes large-scale solar.

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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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Ask a Scientist: The US Has to Do More to Meet Its Carbon Emissions Reduction Goals

Union of Concerned Scientists

The legislation committed nearly $400 billion to support, among other things, wind and solar power, battery storage, electric vehicles, and other clean energy technologies that will make a significant dent in US heat-trapping emissions. It also will save US consumers money because they will spend less on fossil fuels.

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How Much Land Would it Require to Get Most of Our Electricity from Wind and Solar?

Union of Concerned Scientists

A recent National Renewable Energy Laboratory (NREL) study shows that it would take less than 1 percent of the land in the Lower 48—that’s an area comparable to or even smaller than the fossil fuel industry’s current footprint.

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Renewables smash fossil fuels at cost

A Greener Life

New research from the International Renewable Energy Agency (IRENA) confirms renewables are continuing to outpace fossil fuels on cost. They found that the share of renewable energy that achieved lower costs than the most competitive fossil fuel option doubled in 2020. C climate pathway.