As ever with science not everything is as it seems. As many countries worldwide struggle with the second wave of COVID-19, there is an ongoing scientific debate about how best to control the virus without destroying the economy.
Despite our climate emergency and the massive demand reduction caused by COVID-19, American oil executives say it would be “folly” for them to switch to renewables.
The once mighty Exxon has just suffered the corporate humiliation of being booted out the highly influential Dow Jones Industrial Index.
In a letter to the Federal Reserve, 69 organizations called on the Fed to stop purchasing corporate debt from the fossil fuel sector through its COVID-19 emergency facilities.
Communities in Africa have generally contributed the least to climate change, been undermined the most by international trade and finance policies, and have a right to better international support for distributed renewable energy. In order to reach universal energy access before the 2030 target set by the UN Sustainable Development Goals, international public finance institutions have an urgent responsibility to provide more funding and better financial transparency and tracking for distributed renewable energy. Additionally, they have a responsibility to foster local participation in and ownership of distributed renewable energy initiatives. This briefing provides recommendations for how international public finance institutions can fulfill this responsibility, while revealing that from 2016 to 2018, fossil fuels received more than 3.5 times the support than all kinds of renewable energy did during this period.
Grassroots campaigners at a press briefing yesterday said political leaders are failing to ensure a just and sustainable recovery, as new data shows that the world’s 20 richest countries have committed more than USD 150 billion of public money to support fossil fuels since the start of the COVID-19 crisis.
While COVID-19 continues to spread across the globe, our climate emergency continues to worsen. Breaking news this week from climate scientists is that we have just completed the hottest 12-month period in recorded history.
The political system is broken. There may be tens of millions people demanding a just transition, but we live in a system of embedded cronyism, that rewards people closest to those in power.
The burning, melting, warming Arctic is clearly a sign that something is wrong and we need to stop investing in fossil fuels now.
If the IEA is serious about helping governments sustainably tackle interlocking economic and climate crises, they have one more chance to prove it with their data: by making a 1.5-aligned energy pathway central to the 2020 World Energy Outlook.