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Good News—and Bad—about Fossil Fuel Power Plants in 2023 

Union of Concerned Scientists

With the clean energy transition already under way, the US electricity mix is set to continue changing this year. 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). I’ll start off with the good.

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Climate Policy in the World’s Fourth Largest Country

Legal Planet

Over three-fourths of Indonesia electricity comes from fossil fuels: 60% from coal and 16% from gas. Indonesia’s 2021 climate pledge under the Paris Agreement was to reduce emissions from 2020-2030 by 29%. Indonesia has announced plans for a $20 billion program to expand clean energy. Several official plans.

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Paris Agreement Article 2.1(C) sounds obscure – but it packs a big punch for cleaning up the financial sector.

Enviromental Defense

C) of the Paris Agreement has significant implications for how the global financial system works and will be a centrepiece of the coming years. The first priority following the 2015 Paris Agreement was to clean up public financing, so Article 2.1(C) C) of the Paris Agreement. Article 2.1(C)

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Sustainable Finance 101: Transforming Finance for a Sustainable Future

Enviromental Defense

Canada promised to cut its greenhouse gas emissions after the 2016 Paris Agreement. It was part of the global agreement where 195 countries all agreed to reduce their emissions, and Canada has set this promise into law. Why financial regulation? The government sets regulations to keep Canadians safe.

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Two-thirds of Canadians want financial sector regulated to ensure environmental sustainability

Enviromental Defense

However, Canada is failing to address a key root of the climate crisis — the continued flow of capital by Canadian financial institutions into fossil fuel development and extraction. The desire for mandatory regulations is driven by skepticism that financial institutions would respect voluntary regulations.

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All-star team of politicians step up to fix finance for climate

Enviromental Defense

Canada finally has an all-star team ready to tackle the biggest gap in Canada’s climate plans: regulations that align Canada’s financial system with climate action. Canadian banks and pension funds rank in the bottom third globally on financing clean energy, yet are among the world’s largest investors in fossil fuels.

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The EIA Just Released a 30 Year Energy Outlook. It’s… Not Great

Union of Concerned Scientists

It’s widely viewed as the “gold standard” for energy projections, even though there’s much debate in the energy community about the validity of the assumptions behind these projections. EIA has a tough time coming to these projections as it’s difficult to predict the events that cause changes to energy markets.