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2020: Fossil fuels are dead, long live the sun

GreenBiz

2020: Fossil fuels are dead, long live the sun. In this strangest of all years, as the death toll mounts from a disease caused by human incursions into once intact ecosystems, we’re observing another death — the demise of fossil fuels. When oil and gas companies say that they’re getting out of oil and gas, shouldn’t you?

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

DeSmogBlog

Last year was one of the worst on record for climate change-related disasters, yet Canada’s federal government spent $18.6 billion supporting the fossil fuel and petrochemical industry. It is 10 times what the government has invested in climate change adaptation since 2015.

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

GreenTechMedia

billion), the European Investment Bank is one of the sector’s biggest lenders. And for every euro the EIB puts into a project or business, around seven more are invested by the private sector. According to the International Energy Agency, global renewables investment in 2018 amounted to $300 billion. billion ($14.9

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Most EU Hydrogen Projects Risk Prolonging Use of Fossil Fuels

DeSmogBlog

The European Commission is facing calls to assess the climate impact of scores of proposed hydrogen projects after data revealed that 90 percent of them could be used to prolong the use of planet-warming natural gas. Climate change is accelerating and droughts and floods are hitting our continent,” she said.

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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. ’s climate change laws. Investment is flooding into offshore wind and European solar.

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Fossil Fuel-Linked Companies Dominate Sponsorship of COP27

DeSmogBlog

The findings underscore concerns over the role of the fossil fuel industry at the negotiations, known as COP27, which have become a focal point for deals to exploit African natural gas. These talks are supposed to be about moving us away from fossil fuels, phasing them out,” Sabido told DeSmog.

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World Bank Continues Financing Fossil Fuels Despite Climate Crisis

DeSmogBlog

billion into fossil fuel projects around the world since the Paris Climate Agreement was signed in 2015, undercutting global efforts to combat the worsening climate crisis. The Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, gave the project $1.1