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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). Compiled by UCS from Energy Information Administration data as of January 2023. The general outlook includes some good news and some bad news.

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At COP28, Canada signs on to Joint Ministerial Statement on Fossil Fuel Subsidies 

Enviromental Defense

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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Western Wildfires are Burning Through Local and State Budgets 

Union of Concerned Scientists

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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Paris Agreement Article 2.1(C) sounds obscure – but it packs a big punch for cleaning up the financial sector.

Enviromental Defense

C) of the Paris Agreement has significant implications for how the global financial system works and will be a centrepiece of the coming years. The first priority following the 2015 Paris Agreement was to clean up public financing, so Article 2.1(C) C) of the Paris Agreement. Article 2.1(C)

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Oil Companies Plan to Take the Road Already Traveled

Union of Concerned Scientists

ExxonMobil’s early submission, though probably timed to get a head start on defusing climate-related shareholder resolutions, does give us a helpful roadmap of the climate accountability landscape in 2023. Heat-trapping emissions must be cut in half by 2030 to reach the Paris agreement goal of keeping global warming to 1.5

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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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Where do Canada and its wealthy and privileged G7 allies stand on key climate and environmental issues?

Enviromental Defense

The joint statement from the recent G7 environment and energy ministers’ conference in Japan suggests there is ambition for action in some areas – on climate-related finance and investments and on eliminating toxic chemicals, for example – but less on eliminating fossil fuel subsidies and very little on eliminating plastic pollution.