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‘We are at a crossroads’: New IPCC report says it’s fossil fuels or our future

Grist

Greenhouse gas emissions must peak within the next three years, and in the next eight, the world must push fossil fuels aside, rapidly scaling up the use of clean energy like wind and solar. The authors’ top recommendation: Immediately move away from fossil fuels and replace them with renewable technologies.

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Leading Think Tank Met With Minister Over North Sea Energy While Funded by Fossil Fuel Interests

DeSmogBlog

Policy Exchange, one of Westminster’s most prominent think tanks, engaged in a high-level influencing campaign over the UK’s North Sea oil and gas policies while being funded by fossil fuel interests, DeSmog can reveal. Fossil fuel firms tout CCUS and hydrogen as green energy solutions, yet the reality is more complicated.

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ExxonMobil Announces $10 Billion Oil Investment the Same Day IPCC Signals End for Fossil Fuels

DeSmogBlog

“Investing in new fossil fuel infrastructure is moral and economic madness,” UN Secretary-General António Guterres said as the Intergovernmental Panel on Climate Change (IPCC) released part of its latest report on Monday. Meanwhile, major carbon capture projects like Southern Company’s $7.5 This is not fiction or exaggeration.

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Fossil Fuel Companies in UK Awarded £150 Million of Public Money ‘to Find New Ways to Extract Oil, Coal and Gas’

DeSmogBlog

The UK government gave over £150 million in tax breaks to fossil fuel companies in the space of three years, new research has found. A new paper out today reveals that tax credits for fossil fuel extractive companies to conduct research and development (R&D) increased by around £20 million year on year between 2014 and 2016.

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'Oil has no place in our future': Rockefeller fund returns shine after ditching fossil fuels

Business Green

Rockefeller Brothers Fund announces that its investment portfolio has exceeded expectations and industry averages in the five years since it divested from fossil fuels. According to the study, the RBF posted an average annual net return of 7.76 per cent over the five-year period that ended in December last year.

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Will Covid-19 Permanently Shrink The Fossil Fuel Industry?

R-Squared Energy

The fossil fuel industry has faced serious headwinds for several years, but the rise of renewables combined with the fall in consumption as a consequence of the global corona crisis is pushing it over the edge and into “terminal decline”. The fossil fuel industry has faced an oversupply problem, as well as a public relations problem.

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Report: UK Export Finance could create 42,000 jobs if it dumps fossil fuels for clean energy

Business Green

The UK's export credit agency could support up to 42,000 jobs around the UK by 2035 if it switches it support for overseas fossil fuel projects to renewables and clean energy infrastructure, according to a major new analysis from Vivid Economics.