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Public Pension Funds Have Lost Billions on Their Fossil Fuel Investments: New Analysis

DeSmogBlog

public pension funds would have been about 13 percent higher had they divested from fossil fuel holdings ten years ago – equivalent to around $21 million in earnings. without the fossil fuel holdings. The analysis found that while the total actual value of the six funds was $402.8

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WPP Has More Fossil Fuel Clients Than Any Other Advertising Company, Report Finds 

DeSmogBlog

Global advertising and public relations company WPP has more contracts with fossil fuel clients than any of its rivals, despite the group’s pledge to reach net zero emissions by 2030, according to a report by campaign group Clean Creatives. Omnicom followed with 39 contracts; Interpublic Group had 25; and Publicis Groupe had 11. “The

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Central Banks Helping Funnel Trillions of Dollars into Fossil Fuels Despite Climate Pledges, Research Finds

DeSmogBlog

Central banks are continuing to help channel trillions of dollars into fossil fuels through policy decisions and direct financing, with overall sums rising in recent years, a new report has found. The report calls on governments to update the mandates of the banks to support the managed decline of fossil fuels.

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'The G20 has failed to deliver': Study slams continued increase in fossil fuel subsidies

Business Green

New Climate Transparency report reveals fossil fuel production subsidies surged to highest levels on record in 2021. G20 government support for producing and consuming fossil fuels reached a record high in 2021, despite publiuc commitments to end inefficient fossil fuel subsidies and accelerate the clean energy transition.

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Renewable Power Topped Fossil Fuels in UK During Q3

GreenTechMedia

Renewable energy sources generated more electricity than fossil fuels in the U.K. Fossil fuels’ share of the electricity mix was 10 times larger than renewables’ a decade ago, Carbon Brief's data shows. Biomass grew from 285 megawatts in 2009 to almost 4.5 gigawatts in 2018.

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Fossil Fuel Investments Cost California and Colorado Pension Funds Over $19 Billion, Report Finds

DeSmogBlog

Read time: 7 mins California and Colorado’s public pension funds together lost out on over $19 billion over the past decade by investing in fossil fuel stocks, according to a report released on Tuesday. Tags: pension funds fossil fuel investments CalPERS CalSTRS

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How fossil fuel subsidies are hurting the energy transition

Eco-Business

After agreeing in 2009 to phase out dirty energy subsidies, G20 nations pumped US$1.4 trillion into supporting fossil fuel use in 2022 – money that should be redeployed to support a shift into renewables, analysts say.