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“Since COP28 in Dubai, both producers and importers of fossil fuels have a responsibility to accelerate the transition away from them. While COP28 President Al Jaber is right to point out that fossil fuel demand needs to decline rapidly, this cannot be an excuse for the massive expansion of fossil fuels planned by his own company, ADNOC, and the five rich global north countries responsible for the majority of planned oil and gas expansion to 2050, led by the United States."
A new report finds that the EU's demand for gas is set to decline significantly in line with climate targets, eliminating the need to expand supply from new fields or infrastructure. In the report, On Thin Ice, the authors model how EU’s gas demand matches future supply in various forecasted scenarios.
U.S. single biggest violator of CETP pledge, approving the most fossil fuel projects of any signatory for a total of almost USD $2.3 billion.
“Today's commitment to make a finance roadmap to limit warming to 1.5°C and ensure a just energy transition is a welcome step, but in order to be useful, the IEA's new research must continue with strong recommendations to immediately halt finance flowing to fossil fuels, and start recommending dramatically increased public finance on fair terms for renewable energy and energy efficiency."
A group of senators have sent a letter to Federal Trade Commission urging the agency to investigate and crack down on misleading environmental claims by fossil fuel companies and gas certification programs. Over the past decade, the gas industry has engaged in a greenwashing campaign in which third-party “gas certifiers” evaluate methane emissions from natural gas production, often utilizing unreliable and inaccurate technologies and methodologies.