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

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)

Insiders

Sign Up for our Newsletter

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

article thumbnail

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.

article thumbnail

World Leaders Must Protect UN Climate Talks from Fossil Fuel Industry Interference

Union of Concerned Scientists

One of the most crucial indicators of success will be whether the nations of the world reach agreement on a fast and fair phaseout of fossil fuels. Progress on this front depends on protecting the negotiations—and national and subnational policies based on them—from fossil fuel industry interference. I was wrong.”

article thumbnail

As the Climate Crisis Worsens, the Federal Government in Canada Continues to Give Billions in Funding for Fossil Fuels.

Enviromental Defense

New analysis from Environmental Defence reveals that despite federal government promises, funding to the fossil fuel and petrochemical industries remains high Ottawa | Traditional, unceded territory of the Algonquin Anishinaabeg People – New analysis released today by Environmental Defence reveals Canada’s federal government provided at least $18.6

article thumbnail

An A to Z of Fossil Fuel Industry Deception

Union of Concerned Scientists

This year has brought new evidence of what major fossil fuel companies knew and when about the role their products play in climate change, as well as what they did in spite of what they knew. But these technologies are no substitute for sharp cuts in fossil fuels if we keep the goals of the Paris climate agreement within reach.

article thumbnail

US States and Communities are Suing the Fossil Fuel Industry: Six Things You Need to Know 

Union of Concerned Scientists

In an important win for climate accountability in the United States, the US Supreme Court decided that lawsuits filed in Colorado, Maryland, California, Hawai’i, and Rhode Island against fossil fuel companies including ExxonMobil, Chevron, Shell, Suncor, and others will remain in state courts.