A report released last week by climate campaigners at Berlin-based Urgewald shows the agency handing US$2 billion to fossils over the last two years, and $12 billion since the Paris Agreement was adopted in 2015, Bloomberg Green reports, with most of the money supporting new projects.
Tag Archives: Climate Change
Tenth of pandemic stimulus spend could help world reach climate goals – study
The most ambitious goal in the Paris accord aims to cap the rise in global temperatures at 1.5 degrees Celsius, which scientists say could avert far more intense disasters, from wildfires and hurricanes to storm surges and floods.
The world could start to bring that target within reach if governments used 10% of the planned stimulus to back climate-friendly projects such as renewable energy or energy efficiency every year for the next five years, according to the paper, published in the journal Science.
Solar the ‘New King of Electricity’, Trans Mountain at Risk as IEA Analysis Sinks In
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Oil Change International Senior Research Analyst Kelly Trout points to the IEA’s long history of “consistently overestimated the expected role of fossil fuels in the global energy system and consistently underestimated the growth of renewables”. And Thomas Gunton, a director of Simon Fraser University’s Resource and Environmental Planning Program, cites the IEA’s findings and BP’s recent forecasts as the latest evidence against continuing construction of the C$12.6-billion Trans Mountain pipeline expansion.
“At the same time that demand is declining and oil producers are cutting back, Canada is expanding its oil pipeline capacity by just over 2.4 million barrels per day,” he writes. Pre-pandemic projections for western Canadian oil production showed expansion of no more than 1.2 million barrels per day through 2030, yet Trans Mountain was just one of several pipeline projects on the books, large and small.
“While some pipeline expansion may be warranted, spending $12.6 billion of taxpayer funds to build a pipeline when private sector companies are adding more than enough capacity to meet Canada’s need without any taxpayer support is hard to justify,” he writes.
“Ironically, the oil sector may also be adversely impacted by building the Trans Mountain expansion, because shipping tolls will have to be increased to cover the costs of redundant pipeline capacity. This will reduce oil company profits and tax payments to government.”
Facebook letting advertisers sow climate denialism: analysis
Facebook is allowing climate misinformation ads to proliferate despite claiming it is committed to rooting out the problem, a new report by a think tank said Thursday.
InfluenceMap used the platform’s own data to identify 51 ads denying the link between human activity and climate change that were viewed a total of eight million times over the first half of 2020.
This was despite the fact that Facebook bans false ads, and stated as recently as September that it is “committed to tackling climate change through our global operations.”
Out of the 51 ads identified, only one was removed by the social media giant while the rest were allowed to run for the entirety of their scheduled campaign.
Read more: http://www.digitaljournal.com/news/world/facebook-letting-advertisers-sow-climate-denialism-analysis/article/579207#ixzz6aIme1nq0
Source: Facebook letting advertisers sow climate denialism: analysis
ExxonMobil may be plotting to increase its already
enormous annual greenhouse gas emissions by 17% over the next five
years, as much as the entire nation of Greece, according to an internal
assessment of the company’s US$210-billion investment strategy obtained
by Bloomberg Green.
enormous annual greenhouse gas emissions by 17% over the next five
years, as much as the entire nation of Greece, according to an internal
assessment of the company’s US$210-billion investment strategy obtained
by Bloomberg Green.
The report landed just days after Exxon warned that its
financial losses for the third quarter of the year may be higher than
expected, and in the same week the colossal fossil was temporarily
surpassed by Florida-based utility NextEra Energy as the biggest energy
company in the United States.