Remove 2020 Remove Fossil fuels Remove Natural gas Remove Policy
article thumbnail

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.

article thumbnail

IEA’s World Energy Outlook 2023 Predicts Peak Fossil Fuel Demand

R-Squared Energy

Perhaps the most noteworthy prediction from the report is of peak demand for fossil fuels within this decade. However, it is important to note that coal is the only fossil fuel projected to decline over the next decade under the IEA’s Stated Policies Scenario. Transportation electrification also progresses quickly.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Drax Cancels Plan to Build Europe’s Largest Natural Gas Power Plant

GreenTechMedia

gigawatt natural gas power plant in the U.K. have been shelved by the developer Drax, highlighting the challenging economics of converting coal-fired power to a cleaner, but still fossil-fuel-fired, alternative. “The future for the gas industry, in terms of power, will shift to peakers," Watson said.

article thumbnail

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

article thumbnail

The European Investment Bank Has Quit Fossil Fuels. Now What?

GreenTechMedia

So the EIB's confirmation last month that it would effectively end support for fossil fuels garnered widespread attention — as much for the signal it sends as for the additional impact the bank can make with the freed-up funds. The EIB's role, in effect, is to bankroll the EU's policy goals. billion ($14.9

article thumbnail

‘Majority of Fossil Fuels Must Stay in Ground to Meet 1.5C Goal’

DeSmogBlog

above the pre-industrial average in 2020, and the Intergovernmental Panel on Climate Change warned in its recent report that Earth could hit 1.5C Fossil fuels such as coal, oil and natural gas are the source of just over 80% of the world’s energy. Fossil Fuel Rationing. in as little as a decade.

article thumbnail

Ex-COP26 President’s Role at Fossil Fuel ‘Astroturfing’ Firm Approved

DeSmogBlog

Former UK Energy Minister and original COP26 President Claire O’Neill has been cleared to take up a role at a business consultancy known for running “astroturf” campaigns for fossil fuel companies, despite warnings from the body that approves such appointments. Oil and Gas Industry Groups.