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Global warming is projected to exceed 1.8°C, according to McKinsey report

Envirotec Magazine

The energy transition continues to gain steam, with oil demand projected to peak in this decade, perhaps as soon as 2025, according to new research by global consultancy firm McKinsey & Company. However, even with current government commitments and forecasted technology trends, global warming is projected to exceed 1.7°C

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Peak fossil fuel demand will happen this decade

Financial Times: Energy

But the decline in oil, gas and coal will not be steep enough to limit global warming to 1.5C

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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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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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GB News Owner’s Hedge Fund Has $2.2 Billion Fossil Fuel Investments

DeSmogBlog

billion) in fossil fuel firms. This includes companies that specialise in extracting, refining, transporting and distributing fossil fuels. million) shareholding in the oil and gas supermajor Chevron, as well as stakes in Shell, Equinor, and 109 other fossil fuel companies. billion (£1.8

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Fossil fuel demand must fall by a quarter by 2030 to limit global warming, IEA says

Financial Times: Energy

Governments need to step up clean energy supply to avoid shortages and price jumps, agency warns

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Give Climate Change the Name It Deserves: Fossil-Fueled Destruction

DeSmogBlog

The term “global warming” stuck. That tonal change drove home the point that this was not merely a phenomenon to be described, but a tectonic shift demanding ongoing reporting. Climate change” describes only the result of fossil fuel-based greenhouse gases. A disquieting warning in the humid warming air.