This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
As I discussed in a previous blogpost , this funding is crucial for lower-income countries to be able to make a rapid cleanenergy transition while closing the huge energy poverty gap for millions of people without access to modern forms of energy. Progress on support for climate adaptation.
Recent data show Canadians want finance to move towards cleanenergy instead of oil and gas. Currently, Bay Street financial institutions finance enough fossilfuel projects to be equivalent to the fifth largest climate polluter in the world, providing more than $1.43 trillion CAD of financing for fossilfuels in 2022.
By refusing to admit the economic, employment and environmental benefits of cleanenergy, the government is depriving Ontario ratepayers of more affordable bills and making our electricity dirtier than it has been in years. In fact, studies show that cleanenergy is a more affordable option than continuing to rely on fossilfuels.
Finance is the top priority for this COP and is the linchpin to help lower income nations transition from fossilfuels to cleanenergy, close the energy poverty gap, adapt to climate impacts, and address mounting loss and damage. trillion annually.
Advocates Put Out A Call To Action -- Lead Counsel On Court Cases Striking Down Provisions In Act 13 To Preempt Local Regulation Of Oil & Gas Operations Raises Concerns About Proposed Legislation Establishing A RESET Board To Site Large Energy Projects [PaEN] -- TribLive: Plum Zoning Board Rejects Oil & Gas Wastewater Injection Well After Lengthy (..)
Trump’s second victory is very likely to increase fossilfuel production, and he has also pledged to “rescind all unspent funds under the Inflation Reduction Act ’’. The act aims to create green jobs, reduce fossilfuel consumption and switch to cleanenergy.
Delivering for fossilfuel donors On March 28, the US Securities and Exchange Commission (SEC) an independent federal agency that protects investors by watching Wall Street abandoned a rule it passed just last year requiring companies to examine how climate change impacts their operations and disclose their findings.
Is Nuclear The Hot New Clean Power Source? Of Agriculture Now Accepting Agricultural Research Grant Applications, July 25 Deadline -- Gov. Million Water Main, Lead Service Line Replacement Projects -- Pittsburgh Business Times: Pittsburgh Water Authority Launches $75.4
When Hawaii brought suit against major fossilfuel companies for their role in the climate crisis earlier this month, it was momentous on several accounts. You only need to look at the actions of fossilfuel companies right now: they’re running scared. The reality of fossil-fuel driven climate change is here.
The polls reacted positively to Carney’s leadership The over 15% deficit the Liberal Party had on the Conservatives led by Pierre Poilievre quickly turned around once the former Governor of the Bank of England was installed as prime minister. Mark Carney stakes his claim, stepping up on the global stage as the US steps back.
By Anders Lorenzen Mark Carney, the former Governor of the Bank of England and the United Nations (UN) Special Envoy for Climate Action and Finance, has become the next Prime Minister of Canada. While at the Bank of England, he supercharged climate change as a key concern and focus area. Photo credit: World Economic Forum via Flickr.
When Donald Trump returns to the Oval Office in January 2025, his second presidency will have widespread implications for the energy industry, especially new investments, but not necessarily in the ways his supporters might expect. Renewable Energy Vs. FossilFuels Renewables or fossilfuels?
Sheldon Whitehouse gave what’s billed as his 300th “time to wake up” speech on the floor of the Senate, a rollicking takedown of dark money, fossilfuel polluters, and Republicans who have let them “burrow into government.” All the more fitting that this week, Sen.
Data Centers -- Financial Times: Constellation Energy, Other Companies Abandon Almost Half the Projects In $5 Billion Texas Program To Fund Natural Gas Power Plants Due To Costs, Supply Chain Delays [Sen. Yaw Wants A Program Like This In PA] -- John Quigley: Are Merchant FossilFuel Plants Uneconomical?
The EPA also said last week that it would give utility companies an additional year to begin cleaning up contamination from toxic coal ash landfills. This week is full of “fossil-fueled appropriations bills and eco-fascist nominees” on Capitol Hill, Brad Johnson writes at Hill Heat. Climate Integrity has this analysis.
Billion In Costs -- Impacts Of Federal Mega Budget Bill -- PennLive Editorial: True Cost Of President’s Budget - Empty Food Banks And Closed Hospitals -- MCall Guest Essay: Here’s Why I Supported The ‘One Big Beautiful Bill’ - By Republican Con. Shapiro: Legal Action Against PJM Saved PA Consumers An Estimated $1.6 Billion -- Bloomberg: A.I.
Following the Minnesota Senate’s approval on February 2 and the House on January 26, the state now has a much-needed update to its cleanenergy policies that advocates and other leaders have sought for several years. Congratulations, Minnesota! What’s next? Minnesota’s legislative session runs until late May.
Last year’s Inflation Reduction Act (IRA) included a clean hydrogen production tax credit (known as “45V”) that is one of a slew of new incentives intended to help catalyze the next and necessary phase of advancing the nation’s cleanenergy transition as a whole. The costs will be too great otherwise.
Glasgow — Today at COP26, Canada, US, Mali, UK, and 20 other countries and institutions from both developed and developing countries launched a joint statement committing to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize cleanenergy finance. This was 2.5
And despite the mounting warnings from experts, India’s big banks appear to be turning a blind eye to climate risk. . Climate scorecard for India’s banks . A recent analysis offers a rare glimpse into how India’s largest commercial banks think about climate change. You’re talking about extremely large banks,” Fernandes says.
Federal government releases new policy aimed at ending international public financing for fossilfuels, next step is ending domestic financing . This new policy will end a significant portion of EDC’s support for fossilfuels and redirect those funds to support the cleanenergy transition.
Nearly all of these plastics are made from fossilfuels including crude oil, natural gas liquids and coal. Ocean plastics, such as those collected by our International Coastal Cleanup partners last week on beaches and waterways around the world, are a product of the fossilfuel industry that is driving climate change.
That is equivalent to what half a million fossil-fueled cars emit annually. Repurposing cropland could mean water security In the Central Valley, 64 small disadvantaged communities (42% of those studied) are crossed by a river or a canal, of which 48 have an excellent recharge banking potential. miles away from a canal.
except for the banks, pension funds, and insurers who make investments across our economy. The issue is that our banks, pension funds and insurance companies take our hard-earned money and heavily invest in fossilfuels. However, these companies can’t be banking on climate failure forever. Why financial regulation?
Ecojustice, Greenpeace Canada, Stand.earth, Environmental Defence Canada, Keepers of the Water, Leadnow, For Our Kids, and Change Course call on the five major Canadian banks to take responsibility for the impact of their investments in fossilfuels, which are exacerbating the climate crisis.
Despite promises to end public financing for fossilfuels, so far this year the Government of Canada has already committed up to $15.4 The Government of Canada has a long-standing commitment to end fossilfuel subsidies. By comparison, Canada’s support for cleanenergy is meager: amounting to 14.5
Canada’s financial system heavily invests fossilfuels, and under invests in climate solutions, it prioritizes the short-term profits from fossilfuel investments over investments that prioritize long-term good – such as financing the energy transition to clean power like wind and solar.
With most energy investments still in fossilfuels, significant reform is needed to modernise the sector and meet Kazakhstan’s pledge to become net-zero by 2060. Social unrest related to fossilfuels is not a new phenomenon in Kazakhstan. An oil pump in a dust storm on the road to Aktau, Kazakhstan.
trillion USD) in fossilfuel companies in 2022, making the sector the fifth largest climate polluter in the world, only after China, United States, India and Russia, Stand.earth and Environmental Defence are calling for urgent policy action. trillion CAD into fossilfuel companies, resulting in 1.44 trillion CAD ($1.1
For years, grid parity – the time when solar and wind would be cost-competitive with fossilfuels and nuclear – was the holy grail of renewables energy, a target to reach in a distant future. A new study now shows that ditching the fossilfuel on a global scale would help keep sea rise levels to a minimum.
They will have to fight to fend off a provincial government and oil and gas industry determined to stop progress on climate action, the creation of cleanenergy jobs, and a responsible approach to protecting the public from the toxic and expensive consequences of expanding oil extraction. You can read more here.
ECOJUSTICE, ENVIRONMENTAL DEFENCE Ottawa | Traditional, unceded territory of the Algonquin Anishinaabeg People- New polling carried out by Pollara Strategic Insights on behalf of Ecojustice and Environmental Defence shows that a strong majority of people in Canada want banks and financial institutions to invest more sustainably.
Finally, the MOU contemplates various mechanisms aimed at providing compliance flexibility, such as three-year compliance periods, unlimited allowance banking, and limited use of offsets. Affected Fuel” is defined as “the fossilfuel components of motor gasoline and on-road diesel fuel.”
Graph credit: Norges Bank Investment Management (NBIM). trillion, and has targeted large investments in renewable energy. billion (€900 million) to the renewable energy investment firm, Copenhagen Infrastructure Partners (CIP). The Fund was established in 1990 and built on Norway ’s oil and gas revenues.
We need to rapidly transition financial support away from fossilfuels and towards the cleanenergy transition” said Alan Andrews, Ecojustice climate program director.
The current global shift towards renewable energy is already set to cause demand for fossilfuels to peak and decline this decade; however, this is just the beginning. Of course, the oil and gas industry is banking on countries to miss their targets. degree climate-safe threshold. aligned world.
Canadian banks and pension funds rank in the bottom third globally on financing cleanenergy, yet are among the world’s largest investors in fossilfuels.
With more than 300,000 panels deployed over an area of 214 hectares, it is the largest of its kind in the country, with a production capacity of 100 megawatts (MW) – a sizeable output, but not enough on its own to turn Bolivia’s energy mix away from fossilfuels and towards renewables. Advantageous and encouraging.
Additionally, through the Singapore-China Green Finance Taskforce, MAS is collaborating with the People’s Bank of China to increase the adoption of financial products linked to the China Green Bond Catalogue and the Taxonomy, thereby promoting cross-border financial flows. beyond those that have already been signed by December 2023).
Spring is a time of new beginnings, and this spring scientists are calling for financial institutions to start doing their part to limit the worst impacts of climate change and hasten a just, equitable transition to cleanenergy. degrees Celsius (2.7 degrees Celsius (2.7
This leads to an important distinction between fossilfuels specifically produced or merely traded by Shell, as discussed in more detail below. Therefore, there is no room for new investment in fossilfuel supply and a need to decommission existing assets. To achieve this goal, rapid phase-out of fossilfuels is required.
It is hard to create a zero carbon economy if banks and pension funds are still investing in expanding oil and gas extraction. It is even harder if these investments mean much less money is available to invest in the new fossil-free businesses that are ready to take off. Conflict in Europe will accelerate a green transition.
Campaign calling on Finance Minister Chrystia Freeland to block the biggest bank merger in Canadian history that raises significant concerns on housing, affordability, competition, Indigenous rights and climate change, if it’s allowed to proceed. Canada’s biggest bank is a major actor in the housing space.
In a nutshell, the European Commission acknowledges that the transition towards a climate-neutral economy will have economic and social impacts, especially on regions that rely on fossilfuels extraction and treatment (e.g. Bn from the EU budget and on a European Investment Bank lending of €10 Bn. It will rely on €1.5
We organize all of the trending information in your field so you don't have to. Join 12,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content