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Report: As Climate Crisis Expands, Canada Still Hands Billions to Fossil Fuel Industry

DeSmogBlog

billion supporting the fossil fuel and petrochemical industry. To put that in context, Environmental Defence’s “Canada’s Fossil Fuel Funding in 2023” report estimates that the Canadian government’s accumulated subsidies to the oil and gas sector over the last four years was at least $65 billion.

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Banks pouring trillions to fossil fuel expansion in global south, report finds

The Guardian: Energy

Since the 2015 Paris Climate Agreement banks have provided some $3.2tn to the fossil fuel industry to expand operations Banks are pouring trillions of dollars into the expansion of the world’s most emitting industries in the global south, according to a new report.

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More than 130 companies including Ikea, Volvo ask world leaders to ‘phase out’ fossil fuels

The Verge: Energy

. | Photographer: Krisztian Bocsi / Bloomberg via Getty Images More than 130 companies, including Volvo Cars, Ikea, Unilever, Nestlé, and AstraZeneca, signed a letter calling on governments to adopt a global plan to phase out fossil fuels without carbon capture during upcoming international climate negotiations.

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The world came tantalizingly close to a deal to phase out fossil fuels

The Verge: Energy

The beginning of the end for fossil fuels? This text is a step forward on our path towards phasing out fossil fuels, but is not the historic decision we hoped for.” More than 100 countries came to the table pushing for an official agreement to “phase out fossil fuels.”

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The future of fossil fuels could be decided in Dubai

The Verge: Energy

Sean Gallup/Getty Images Tens of thousands of negotiators, activists, and corporate execs have descended upon Dubai to wrangle over the future of fossil fuels. The future of fossil fuels Let’s start with some backstory on COP28. Greenhouse gas emissions come from extracting and burning fossil fuels, of course.

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California Pension Funds Have Billions Invested in Fossil Fuel Companies Named in State’s Lawsuit

DeSmogBlog

Over the past month and a half month, California lawmakers have enacted a pair of climate disclosure bills and endorsed a global call to end the fossil fuel era. Lena Gonzalez (D-Long Beach) introduced legislation requiring both funds to divest from the 200 largest fossil fuel companies by the 2030s — holdings worth about $15 billion.

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“The end of the fossil fuel era” may be in sight following COP pledge

Envirotec Magazine

The end of the fossil fuel era appeared to have come a significant step closer with the signing of a joint commitment to phase out coal on day four of the COP summit (4 November). There has been a 76% drop in the number of new coal plants planned globally since the Paris Agreement was adopted in 2015. degrees in reach.”.