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Banks Continue to Prop Up the Fossil Fuel Industry

Union of Concerned Scientists

Some of HSBC’s dealings were on behalf of Saudi Aramco, the world’s second-ranked company in Fortune’s Global 500 and often dubbed the world’s biggest polluter for being the largest corporate emitter of greenhouse gases. It also requires a deep reduction in fossil fuel finance and an opening of the vaults for clean energy.

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30 Years of U.S. Climate Policy

Legal Planet

EPA’s power to regulate greenhouse gases, established in litigation in 2007, now seems beyond question. remains a party to the UNFCCC , helped broker the Paris Agreement, and is till a party to that agreement today. Perhaps most importantly, the federal government has invested billions of dollars in clean energy.

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Ranking Presidents on Climate Change

Legal Planet

In 1983, Reagan’s EPA warned about the risk of a runaway greenhouse effect. The Kyoto Protocol may have led to emission reductions in Europe, but there was never any real prospect that the Senate would ever ratify the agreement. He personally intervened to help negotiate the Paris Agreement.

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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. It calls for countries to make all “finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development.” C) of the Paris Agreement.

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Progress Possible at COP 28 Despite Fossil Fuel Industry Deception

Union of Concerned Scientists

Success at COP28 is likely to be measured by the inclusion of strong fossil fuel phaseout language, free from loopholes, in the final agreement. Global net anthropogenic greenhouse gas emissions 1990–2019. Instead of investing in clean energy, the fossil fuel industry perpetuates the problem and erodes public trust.

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What is Our Ocean’s Role in the Transition to Clean Energy?

Ocean Conservancy

According to the Intergovernmental Panel on Climate Change, fossil fuel production accounts for 35% of global greenhouse gas emissions. For the first time, Ocean Conservancy attended the annual International Renewable Energy Agency (IRENA) Assembly to help advance a just clean-energy transition.

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U.S.-China Climate Deal Means Good Vibes for COP28

Legal Planet

Finally, both sides offer a brief statement on the upcoming 2035 NDCs, or nationally determined contributions, that they will be “economy-wide, includ[ing] all greenhouse gases” and that they will reflect reduction aligned with Paris goals. The statement is characteristically general and vague in the details.