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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. degrees Celsius, or 2.7

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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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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. Providing just 1.1

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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.

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Even record renewable energy growth did not hamper the fossil fuel sector in 2022

A Greener Life

By Anders Lorenzen The renewable energy sector experienced record growth in 2022 of 1%. But despite this, it did not shift the dominance of fossil fuels. They still account for 82% of the global energy supply according to the industry’s Statistical Review of World Energy released this week.

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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. degrees Celsius (2.7 C above preindustrial levels.

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Don’t Believe the Lies: Five Facts to Consider as the UN’s COP27 Comes to a Close

Union of Concerned Scientists

Union of Concerned Scientists’ (UCS) research shows that top fossil fuel producers’ emissions are responsible for as much as half of global surface temperature increase. The best solution: Replace fossil fuels with renewable energy. The transition to 100-percent renewables is possible.