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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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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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‘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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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. Such investments will soon be stranded assets, a blot on the landscape, and a blight on investment portfolios.”.

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COP26 Hires Law Firm That Defended Fossil Fuel Giants Over Environmental Disasters

DeSmogBlog

The UK government has appointed a law firm with a history of defending fossil fuel companies over environmental disasters to provide legal services for the upcoming COP26 climate summit. They need to consider if they should be assisting companies who seek to profit from fossil fuels and the destruction of our climate.”.

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As California Considers Dropping Fossil Fuels from Major Pension Funds, New Report Calls Out ‘Misinformation’ on Costs

DeSmogBlog

A newly published report by Fossil Free California finds California’s pension fund managers are circulating divestment “misinformation” by exaggerating the costs involved in shedding their fossil fuel investments in documents prepared for state lawmakers. The two pension funds have estimated holdings of $7.4 billion and $4.1

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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.