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Global Covid stimulus packages 'doing more harm than good' to planet, researchers warn

Business Green

Global demand for electricity is also growing faster than renewables capacity post-pandemic, opening the door to more fossil fuel energy in many parts of the world. Nature has been particularly neglected, with fewer than ten of the countries we studied investing in nature-based solutions such as reforestation or wetland restoration.

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The (not so) green recovery: New report warns world is failing to 'build back better'

GreenBiz

For the vast majority of countries, recovery spending has been relatively low and not particularly green, according to the report, with any benefits from the greener elements contained in stimulus packages often undermined by concurrent fossil fuel and consumer-focused spending program. Of the $14.6 Meanwhile, $86.1

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UN: Investment in battling climate change at risk of decline

Business Green

UN Conference on Trade and Development fears that slowdown in foreign investment could impact flows of climate-related finance. Investment in projects that tackle climate change is expected to decline in 2022 as global foreign direct investment flows drop, according to a report published by the UN Conference on Trade and Development.

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Oil Industry ‘Net-Zero’ Pledges are an Attempt to Delay Climate Action, New Paper Warns

DeSmogBlog

A growing number of oil companies in the past year have announced targets to achieve “net-zero emissions” by mid-century, seemingly signaling a monumental shift in the history of the oil business towards low-carbon solutions. Fossil fuel companies have taken a variety of approaches when it comes to climate change.

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Oil Industry ‘Net-Zero’ Pledges are an Attempt to Delay Climate Action, New Paper Warns

DeSmogBlog

A growing number of oil companies in the past year have announced targets to achieve “net-zero emissions” by mid-century, seemingly signaling a monumental shift in the history of the oil business towards low-carbon solutions. Fossil fuel companies have taken a variety of approaches when it comes to climate change.

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E.ON Wants Germany’s Stimulus Plans to Back Cheap Green Power

GreenTechMedia

Any shortfall in that support should be covered by federal funding, including proceeds from the new carbon tax, Teyssen said Tuesday. Reduced demand during the coronavirus lockdown, coupled with ample wind and solar generation, has seen German power prices go negative, even more so than usual. This would hit consumers hard, E.ON

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EU recovery package: Net zero launch pad or missed opportunity?

Business Green

As MEPs enter talks over EU Council's €1.8tr recovery package and budget deal, many key green questions remain. Of the overall €1.8tr package encompassing the recovery funding and the 2021-27 budget, EU leaders agreed that 30 per cent should be earmarked for the bloc's climate objectives and transition to net zero.