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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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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 I’ll start off with the good.

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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.” percent in 2015 to nearly 8 percent in 2023.

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30 Major Climate Initiatives Under Biden

Legal Planet

By one count , Biden has overturned more than two dozen of Trump actions affecting the fossil fuel industry. The earliest action covered is Biden’s rejoining the Paris Agreement; the most recent is a burst of final actions taken around Earth Day 2024. officially became a party to the agreement again on February 19, 2021.

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Reevaluating the Role of Fossil Gas in a Decarbonizing Grid

Union of Concerned Scientists

But gas power plants have also played an important role in helping to maintain the overall reliability of the electricity grid by meeting peak power demands, such as on hot summer days when people turn on their air conditioners. In this plan, almost all of this coal and gas generation is replaced with wind and solar.

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Analysis: Coal returns to the China-Pakistan Economic Corridor

A Greener Life

“We are pushing the Chinese company to complete its financial closure by 31 December 2023, and start construction at the earliest so that it can be completed by 2025,” Shah Jahan Mirza, managing director of the Pakistan government-owned Private Power and Infrastructure Board told me.