Global Fossil Fuel Subsidies Reached $7 Trillion in 2022, an All-Time High
Yale E360
AUGUST 31, 2023
Global subsidies for fossil fuels reached $7 trillion in 2022, an all-time high, according to the International Monetary Fund. Read more on E360 →
The Fossil Fuel Industry Continues Producing Heat-Trapping Emissions that Drive Climate Change
Union of Concerned Scientists
APRIL 4, 2024
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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An A to Z of Fossil Fuel Industry Deception
Union of Concerned Scientists
MAY 10, 2023
This year has brought new evidence of what major fossil fuel companies knew and when about the role their products play in climate change, as well as what they did in spite of what they knew. They enable us to strengthen our balance sheet and high grade or diversify our portfolio.
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Fossil Fuel Disinformation Threats Aim to Hinder Meaningful Action at COP28
Union of Concerned Scientists
DECEMBER 8, 2023
Yet, driven by vested interests in the fossil fuel industry , misleading narratives aim to distort and hinder meaningful climate commitments. Fossil fuels are the problem It’s pretty simple: the burning of fossil fuels is the main driver of climate change. billion tons of the 40.5
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Boston Bans Fossil Fuels in New and Renovated City Buildings
Law and Environment
AUGUST 3, 2023
On July 31, 2023, Boston Mayor Michelle Wu signed an executive order ending the use of fossil fuels in new construction and major renovations of city-owned buildings. Covered buildings and projects will require heating, ventilation, air conditioning, hot water, and cooking systems that do not use fossil fuels.
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Fossil Fuel Companies Make Billions in Profit as We Suffer Billions in Losses
Union of Concerned Scientists
FEBRUARY 21, 2023
The world’s biggest fossil fuel companies recently released their 2022 earnings reports, revealing record-breaking profits last year; just five companies–ExxonMobil, Shell, BP, Chevron, and TotalEnergies–reported a total of nearly $200 billion in profits. billion, respectively, during 2022. billion and $35.5
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Clean Energy Saw as Much Investment as Fossil Fuels for the First Time in 2022
Yale E360
JANUARY 27, 2023
trillion in investment globally last year, matching investment in fossil fuels for the first time ever, according to a new report from Bloomberg New Energy Finance. Solar, wind, electric vehicles, and other clean energy technologies saw a record-high $1.1 Read more on E360 →
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Guest Blog: Fossil Fuel Promotion in City Facilities? Not in My Municipality
Enviromental Defense
MARCH 11, 2024
Will the City of Ottawa ban fossil fuel promotion in City facilities? Fossil fuel advertisements indeed contradict the City’s policies on climate. City Council declared a climate emergency in 2019 and committed to a full phase-out of fossil fuels by 2050. It’s possible. And who knows?
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Storm Elliott Knocked Out Fossil-Fuel Power. We’ve Been Here Before.
Union of Concerned Scientists
JANUARY 24, 2023
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.
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Good News—and Bad—about Fossil Fuel Power Plants in 2023
Union of Concerned Scientists
MARCH 23, 2023
And fossil fuel power plants may not stick to their retirement schedules for a variety of reasons. Note: this is adjusted for inflation to 2022 dollars and is based on the amount those plants emitted in 2021, the EIA’s most recent year of finalized data. A bit more on those reasons later. What can be done?
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Victory! Canada ends financing for international fossil-fuel projects in 2022
Enviromental Defense
NOVEMBER 11, 2021
Joining an ever growing list of countries from around the world, Canada pledged to end public financing for overseas fossil-fuel projects in 2022 and instead prioritize the clean energy transition. This sends an important signal to investors and people around the world that the sun is setting on fossil fuels.
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Victory! Canada ends financing for international fossil fuel projects
Enviromental Defense
DECEMBER 21, 2022
Earlier this month the Government of Canada delivered on a key climate promise and released new rules which end public funding for fossil fuels abroad, starting January 1, 2023. If all signatories follow through on their pledge with integrity, it will directly shift $38 billion a year from fossil fuels to clean energy. .
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Statement: New Estimate from Parliamentary Budget Office Shows Excess Profit Tax on Fossil Fuels Would Bring in Billions
Enviromental Defense
OCTOBER 26, 2023
Today, the Parliamentary Budget Office (PBO) released its assessment that a windfall profits tax on fossil fuel companies could generate $4.2 billion, based on 2022 profits. Fossil fuels are by far the largest contributor to climate change. It’s time to make polluters pay. Suncor Energy Inc., Imperial Oil Ltd.,
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G20 still paying billions in fossil fuel subsidies
A Greener Life
NOVEMBER 7, 2022
Two-thirds of the G20’s public finance for energy went to fossil fuels in 2019–2020. The G20 group of nations provided nearly US$200 billion in support of fossil fuels in 2021, despite the worsening impacts of the climate crisis and their pledge in 2009 to phase out “inefficient” subsidies. By Catherine Early.
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California AG Launches Investigation into Fossil Fuel and Petrochemical Industries for Plastic Pollution
Law and Environment
MAY 27, 2022
On April 28, 2022, the California Attorney General launched an investigation into the “fossil fuel and petrochemical industries for their role in causing and exacerbating the global plastics pollution crisis.” See our previous coverage on the NY and MA AG’s investigations.
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Report: 2022 Energy Progress Lags Despite Renewables Growth
Environment + Energy Leader
JUNE 27, 2023
The Statistical Review of World Energy reveals a turbulent 2022 for global energy, including energy price increases, steady fossil fuel dependence, and increased emissions
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UK universities take £40m in fossil fuel funding since 2022
Corp Watch
OCTOBER 9, 2023
UK universities take £40m in fossil fuel funding since 2022 The Guardian PaulaR Mon, 10/09/2023 - 13:28 Wednesday, October 4, 2023 Read more Max Colbert FoI requests show Shell and BP among firms giving funds to institutions which have pledged to divest Max Colbert Wed 4 Oct 2023 10.00
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At COP28, Canada signs on to Joint Ministerial Statement on Fossil Fuel Subsidies
Enviromental Defense
DECEMBER 9, 2023
Statement from Julia Levin, Associate Director, National Climate Dubai, UAE – Today at COP28 Canada joined eight other countries in signing a Joint Ministerial Statement on Fossil Fuel Subsidies , to address inaction on a 14 year old commitment to eliminate fossil fuel subsidies.
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2022 fossil fuel subsidies are skyrocketing – and the year isn’t quite over
Enviromental Defense
DECEMBER 8, 2022
The numbers here are for the first three quarters of 2022. We won’t know the full amount for 2022 for another few months. Fossil hydrogen: $300 million. Fossil (or “blue”) hydrogen helps oil and gas companies greenwash themselves, but it’s just another fossil fuel. What should the government do?
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Even record renewable energy growth did not hamper the fossil fuel sector in 2022
A Greener Life
JUNE 30, 2023
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. 2022 was dominated by turmoil in energy markets , as Russia’s Invasion of Ukraine helped to boost gas and coal prices to record levels in Europe and Asia. .”
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Statement on the Government of Canada’s New Policy Ending Subsidies to the Fossil Fuel Industry
Enviromental Defense
JULY 24, 2023
As countries around the world grapple with eliminating their own fossil fuel subsidies, Canada has set a strong global precedent. This is alarming given that Canada is one of the largest providers of fossil fuel financing in the G20. Canada ranks among the worst in the G20 for providing fossil fuels public financing.
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Global fossil fuel emissions set to rise by 1 per cent in 2022
New Scientist
NOVEMBER 10, 2022
This year will see a smaller jump in carbon dioxide emissions from fossil fuels compared with 2021, driven partly by the continuing recovery of aviation following covid-19 travel restrictions
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Renewables smash fossil fuels at cost
A Greener Life
JULY 7, 2021
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.
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What’s Up With Water—September 13, 2022
Circle of Blue
SEPTEMBER 13, 2022
This week’s episode of What’s Up With Water covers what to expect at COP27, new research on the link between water and the fossil fuel industry in Texas, and an update on Jackson, Mississippi’s failing water system. The post What’s Up With Water—September 13, 2022 appeared first on Circle of Blue.
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Analysis: Global CO2 emissions from fossil fuels hits record high in 2022
Environmental News Bits
NOVEMBER 11, 2022
Global carbon dioxide emissions from fossil fuels and cement have increased by 1.0% in 2022, new estimates suggest, hitting a new record high of 36.6bn tonnes of CO2 (GtCO2). The estimates come from the 2022 Global Carbon Budget report by the Global Carbon Project.
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How local governments and communities are taking action to get fossil fuels out of buildings
Environmental News Bits
SEPTEMBER 7, 2022
Across the United States, 80 cities and counties have adopted policies that require or encourage the move off fossil fuels to all-electric homes and buildings.
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The Year in Water, 2022
Circle of Blue
DECEMBER 13, 2022
The Year in Water, 2022. Sharpening the Shark’s Teeth By Brett Walton, Circle of Blue – December 13, 2022. The strength of the shark’s teeth and the breadth of the bite were on full display in 2022. Though vivid, the shark metaphor is an inadequate frame for some of 2022’s defining water stories. Brett Walton.
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Release: Nearly all COP27 sponsors are either major polluters or enablers of fossil fuel industry
Corp Watch
FEBRUARY 19, 2024
Release: Nearly all COP27 sponsors are either major polluters or enablers of fossil fuel industry Corporate Accountability International PaulaR Mon, 02/19/2024 - 18:02 Thursday, November 17, 2022 Read more Coca-Cola is but one of eighteen sponsors that raises concerns about why vital climate talks even have corporate sponsors in the first place This (..)
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Western Wildfires are Burning Through Local and State Budgets
Union of Concerned Scientists
MAY 22, 2023
For years, fossil fuel companies have socialized the costs of their pollution while privatizing the benefits. Since local and state governments are on the frontlines of paying for worsening wildfires, they should also be on the leading edge of holding fossil fuel companies accountable. Source: Statista 2023.
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Bills Establishing Incentives For Using Fossil-Fueled Vehicles Introduced In The House, Senate; Eliminates Support For Hybrid, Electric Vehicles
PA Environment Daily
OCTOBER 7, 2022
A two-bill package has been introduced in the House and Senate to establish new incentives for the use of fossil-fueled vehicles-- rebranded as “low emission transportation fuels”-- and eliminating rebates and grants for hybrid and electric vehicles. Posted: October 7, 2022] PA Environment Digest
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Analysis: The UK governments love-letter to the fossil fuel industry
A Greener Life
AUGUST 6, 2023
By Anders Lorenzen Prime Minister Rishi Sunak and his government are intensifying their support for the fossil fuel industry, and they have thus distanced themselves further from climate action previously pursued by successive UK governments. The UK Prime Minister Rishi Sunak pictured at a gas plant in Aberdeen. via FLICKR.
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Climate Change in 2022: Multiple Billion-Dollar Disasters and Unbearable Human Costs
Union of Concerned Scientists
JANUARY 10, 2023
In 2022, the nation experienced 18 disasters with costs exceeding a billion dollars each, and together these disasters caused at least 474 deaths. Together these disasters cost at least $165 billion, making 2022 the third most costly year on record. You can watch her powerful speech here ). Indeed, the math is unrelentingly clear.
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How political will often favors a coal billionaire and his dirty fossil fuel
Corp Watch
NOVEMBER 12, 2023
How political will often favors a coal billionaire and his dirty fossil fuel Washington Post pratap Sun, 11/12/2023 - 21:09 Friday, December 9, 2022 [link] Gerry Shih, Niha Masih and Anant Gupta GODDA, India — For years, nothing could stop the massive coal-fired power plant from rising over paddies and palm groves here in eastern India.
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The journey to a climate-safe future for all does not include fossil fuels
Enviromental Defense
DECEMBER 9, 2022
Unfortunately these energy scenarios become a self-fulfilling prophecy: the CER misdirects investment into fossil fuels, which in turn locks in the dangerously high levels of fossil fuel demand and supply that its scenarios project.
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Ask a Scientist: The US Has to Do More to Meet Its Carbon Emissions Reduction Goals
Union of Concerned Scientists
NOVEMBER 16, 2023
It also will save US consumers money because they will spend less on fossil fuels. First, decarbonizing the electricity sector mainly with wind and solar to replace coal and fossil gas. Second, replacing fossil fuels with clean electricity in the transportation, building, and industrial sectors.
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Fossil Fuel Companies Make Billions in Profit as We Suffer Billions in Losses: 2024 Edition
Union of Concerned Scientists
APRIL 17, 2024
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. The history of colonization that still shapes the land to this day also played a role.
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New report: As climate crisis worsens, federal government continues to give billions in subsidies and financing for fossil fuels
Enviromental Defense
MARCH 30, 2022
Unceded Algonquin Anishinaabe Territories [Ottawa, ON] – A new report released today by Environmental Defence, Buyer Beware: Fossil Fuel Subsidies and Carbon Capture Fairy Tales in Canada , reveals Canada’s federal government provided at least $8.6 2021 was a horrific year for people in Canada and around the world.
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GERMAN ELECTRICITY TO GET DIRTIER IN 2022, NEW ANALYSIS FINDS
Environmental Progress
JANUARY 4, 2022
Germany is expected to increase its fossil fuel consumption for electricity generation in 2022, if its weather conditions and electricity demand are similar to 2021, a new analysis from Environmental Progress finds. Emissions from Germany’s power sector could thus rise from 244 million tons in 2021 to 264 million tons in 2022.
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Shell called out for promoting fossil fuels to youth via Fortnite game
Corp Watch
OCTOBER 13, 2023
Shell faces lawsuit from climate change activists over fossil fuels Reuters | April 5, 2019 Environmentalist and human rights groups said on Friday they had started a lawsuit against Royal Dutch Shell in the Netherlands to force the energy firm to cut its reliance on fossil fuels.
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FRESH, October 4, 2022: Carbon Dioxide Storage and Transport Emerges as Political Flashpoint
Circle of Blue
OCTOBER 4, 2022
October 4, 2022. The move represents a lifeline for fossil fuel use in a decarbonizing energy grid. October 11-13, 2022: Great Lakes Commission Annual Meeting – register. October 18, 2022: EPA’s Debra Shore at the Great Lakes Conference — register. October 28, 2022: Great Lakes Water Conference — register.
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New California Legislation Would Help Us Better Understand Wildfire Health Impacts
Union of Concerned Scientists
APRIL 29, 2024
Last year, the Union of Concerned Scientists (UCS) made headlines across the country when we published a report demonstrating how worsening wildfires in the West are linked to the unrelenting, shameless emissions of the fossil fuel companies. Climate-change fueled disasters will continue to have impacts on human health.
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Municipalities of Puerto Rico v. Exxon: a unique class action against fossil fuel companies presses for climate accountability in the United States
Law Columbia
DECEMBER 2, 2022
On November 22, 2022, sixteen municipalities of Puerto Rico filed a lawsuit in the federal district court in Puerto Rico seeking to hold coal, oil, and gas companies liable for losses resulting from storms during the 2017 hurricane season and ongoing economic losses since that time. . By Korey Silverman-Roati and Maria Antonia Tigre.
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Banks Continue to Prop Up the Fossil Fuel Industry
Union of Concerned Scientists
FEBRUARY 5, 2024
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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What’s Up With Water – September 20, 2022
Circle of Blue
SEPTEMBER 20, 2022
In the United States, a ruling by a federal judge in Wisconsin has long-term implications for fossil fuel infrastructure in the Great Lakes region. The post What’s Up With Water – September 20, 2022 appeared first on Circle of Blue. I’m Eileen Wray-McCann. More water news and analysis await you at circleofblue.org.
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