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Fossil Fuel Companies Make Billions in Profit as We Suffer Billions in Losses: 2024 Edition

Union of Concerned Scientists

Last year, I wrote that fossil fuel companies made billions of dollars in profit during 2022 as people around the world suffered billions of dollars in damage from climate and weather related disasters. Above: Lahaina, Hawai’i after the devastating August 2023 wildfire that killed more than 100 people and destroyed 2,700 homes.

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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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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.

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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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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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Uncounted Emissions: The Hidden Cost of Fossil Fuel Exports

Yale E360

This allows wealthy nations to report progress on emissions reduction goals, while shipping their fossil fuels — and the pollution they produce — overseas. Oil, gas, and coal exports are not counted when countries tally their greenhouse gas emissions under the Paris Agreement. Read more on E360 →

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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.”