La Banque Postale, which is a relatively small but progressive bank in France, has set an international precedent against oil and gas expansion. The bank, which was already committed to ensuring that its banking activities achieve net zero carbon emissions by 2040, announced a complete withdrawal from fossil fuels by the 2030. Will other banks now follow?
With weeks left until the crucial COP26 climate Conference, which is going to be held in Scotland, the bare-faced climate hypocrisy of the hosts, the British Government, is all too obvious to see.
With less than forty days to go until the crucial climate conference, COP26, to be held in Glasgow, young climate activists from across the world made their voices heard loud and clear on Friday.
The British Government is coming under increasing pressure over its hosting of the COP26 climate conference to be held in Scotland in November.
In the coming months in the run up to the crucial climate talks, COP26 in Scotland, there will be a slew of false solutions on climate change announced, whether carbon, capture and storage (CCS) or carbon offsetting.
With only six months left till COP26, the UK host has work to do. Ending public finance for fossil fuel projects overseas shows potential, but the UK’s lack of action on fossil fuels domestically risks undermining its credibility.
At today’s IEA-COP26 Net Zero Summit, International Energy Agency director Dr. Fatih Birol again asserted that his agency “will provide a roadmap for the world to be in line with 1.5 degrees Celsius,” yet stopped short of saying it will be central in the upcoming WEO.
Before Saturday, it is simple. Boris should be brave. He should cancel overseas fossil fuel finance. But he should do more. To encourage others to do the above, he should also follow Denmark’s lead and cancel the next round of oil and gas licensing, and end all future exploration in the UK North Sea.
Some of the world’s worst polluting companies, including BP and Shell, have been regularly lobbying the UK Government offering money to be part of next year’s UN COP26 conference.
The British Government, as hosts of COP26, had an opportunity to show real climate leadership and start a just transition away from fossil fuels. But they just offered over 100 drilling licenses