article thumbnail

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

article thumbnail

Boston Bans Fossil Fuels in New and Renovated City Buildings

Law and Environment

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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ask a Scientist: The US Has to Do More to Meet Its Carbon Emissions Reduction Goals

Union of Concerned Scientists

The legislation committed nearly $400 billion to support, among other things, wind and solar power, battery storage, electric vehicles, and other clean energy technologies that will make a significant dent in US heat-trapping emissions. It also will save US consumers money because they will spend less on fossil fuels.

article thumbnail

These Attorneys General Are Defending the Fossil Fuel Industry, Not Their States

Union of Concerned Scientists

Attorneys general (AGs) in the five states most vulnerable to climate change, however, are doing the exact opposite: Instead of defending their constituents, they are defending the fossil fuel industry. Here’s a roundup of what these AGs have been doing to make a bad situation worse.

article thumbnail

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.” More on that shortly. But first, the undeniably good news.

article thumbnail

Using the Debt Ceiling to Advance Fossil Fuels Over Renewables is Bad Faith Bargaining

Union of Concerned Scientists

Alarmingly, this proposed legislation would abandon recent investments in renewable energy while boosting fossil fuel production, alongside other potentially harmful provisions. So-called “permitting reform” for energy infrastructure is included as well. 1: The Lower Energy Costs Act, on a largely party-line vote.

article thumbnail

Report from COP27: The Fossil Fuel Industry Continues to Block the Path to Climate Justice

Union of Concerned Scientists

The destruction caused by climate change is directly linked to human activity, primarily burning fossil fuels. There are multiple realistic, tangible solutions that would rapidly reduce greenhouse gas emissions worldwide, yet policy addressing anthropogenic climate change remains slow and insufficient.