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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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We Need an Agreement to Phase out Fossil Fuels at COP28

Union of Concerned Scientists

It’s not just the poor air quality, long lines, and excessive fossil fuel company representation ; nations are still too far apart in their positions on a fossil fuel phaseout, the top priority for this COP. Yet global fossil fuel production and use continue to expand. Particulate matter (PM2.5)

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Clean Energy Saw as Much Investment as Fossil Fuels for the First Time in 2022

Yale E360

Solar, wind, electric vehicles, and other clean energy technologies saw a record-high $1.1 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. Read more on E360 →

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Progress Possible at COP 28 Despite Fossil Fuel Industry Deception

Union of Concerned Scientists

Last week, I joined my colleagues at COP28 in Dubai , as negotiators and civil society push for a fossil fuel phaseout to meet climate goals. The industry is pushing a narrative that misleadingly calls out emissions , not fossil fuels as the problem. Source: IPCC Sixth Assessment Report.

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What Fixed Charges on Your Electric Bill Could Mean for Charging an EV in California

Union of Concerned Scientists

Residential electricity rates for many Californians have increased significantly over the last year, making it more expensive to charge an electric vehicle (EV) at home. It’s still cheaper to recharge an EV than buy gasoline, but those savings have been eroded by surging electric rates. to $9.54.

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Grid Investments are Critical to Our Clean Energy Future

Union of Concerned Scientists

The simple fact is that ditching fossil fuels for low-cost clean energy resources is good for the planet, good for the US economy, and good for public health. The studies the DOE reviewed also found that transmission investments would provide a host of benefits beyond access to clean energy. The good news?

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Fossil Fuel Companies Make Billions in Profit as We Suffer Billions in Losses

Union of Concerned Scientists

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.