Green tech, climate policies could slash fossil fuel profits by two-thirds
The rise of clean tech such as renewables, electric cars and climate policies could cut global fossil fuel profits by two thirds, a report warns.
fossil fuels
UK fossil fuel subsidies exist – by the back door
Several months ago I joined many others in petitioning the UK Government to “convert fossil fuel subsidies into subsidies for renewable energy”.
North Sea chaplain expects Church of Scotland to make ‘wrong decision’ to divest from fossil fuels
The North Sea’s oil and gas chaplain believes the Church of Scotland will make the “wrong decision” in coming years to divest from fossil fuels.
Nearly half of fossil fuel bosses ‘believe gas and renewables are competing’ – DNV GL report
Almost half of senior bosses in the fossil fuels industry “believe gas and renewables are competing against each other”, according to a major new survey.
Campaigners say Scotland’s new public bank must not invest in ‘damaging’ fossil fuels
Scotland’s new public bank must be an “ethical lender”, according to environmental campaigners.
Carney warns firms’ assets could become worthless if climate crisis not realised
The outgoing governor of the Bank of England has warned firms that their assets could become "worthless" if they do not wake up to the climate crisis.
In Europe’s richest petro-state, the top oil lobbyist is worried
Some of the most powerful people in Norway’s vast oil industry are increasingly worried about what they see as a lack of nuance in the criticism of fossil fuels.
Exxon blasts New York’s climate lawsuit as trial opens
Exxon Mobil Corp.’s lawyer slammed New York’s securities-fraud case as the trial opened, saying the state “twisted” reality by conflating two internal metrics the company uses to account for the financial impact of climate change on its business.
UK politicians push for divestment of BP and Shell shares
A group of 300 British politicians are pushing the trustees of the Parliamentary Pension Fund to sell shares of BP Plc and Royal Dutch Shell Plc to ward off the risks of climate change.
Lots of talk but ‘very little real action’ on UK decarbonisation
A company in the US called ZeroAvia has just installed a hydrogen fuel cell powered electric powertrain in a six-seater aircraft.
Fossil fuels offer ‘increasingly poor’ returns on investment, study finds
Investing in fossil fuels is providing “increasingly poor” returns on investment according to a new study.
Zero-carbon electricity to outstrip fossil fuels for first time, National Grid says
More British electricity is set to come from zero-carbon sources than fossil fuels this year for the first time since the Industrial Revolution, National Grid has said.
MSPs call on Scottish Parliament to end investment in fossil fuels
A group of MSPs have called on the Scottish Parliament to end its investment in fossil fuels.
Barclays AGM hit by climate protests
Barclays' annual general meeting has been hit by climate protesters angry at the lender's financing of fossil fuel projects.
Public health body completely divests from fossil fuels over climate concerns
The Faculty of Public Health (FPH) has announced it has ended its investment in fossil fuels over climate change concerns.
London boroughs urged to remove pension investments from fossil fuels
Local authorities across London are being urged to join the fight against climate change by pulling pension fund investments out of fossil fuels.
Trump signals end of Obama’s green projects in bid to boost domestic fossil fuels
Donald Trump is expected to sign an executive order that will suspend, rescind or flag for review more than half a dozen green measures in an effort to boost domestic energy production in the form of fossil fuels.
World first as Ireland backs ban on public money investment in fossil fuels
The Irish parliament has become the first in the world to back a ban on investing public money in fossil fuels.
Groups urge US congress to reject TPP over environmental concerns
More than 450 groups have called on the US Congress to reject the Trans-Pacific Partnership (TPP) claiming the trade deal would allow fossil fuel companies to contest US environmental rules in extrajudicial tribunals.
Tory MP claims Church of England should invest in fossil fuels
The Church of England should “put aside the Greenpeace manuals” and invest in fossil fuels, a Tory MP has said. Climate change sceptic David TC Davies (Monmouth) told Church commissioners to look at the Bible’s Parable of the Talents, which is about making wise investments.
Portland takes fossil fuels stand
Portland, Oregon has drawn a line in the sand, banning all new oil, coal or natural gas export infrastructure in the city.
Campaigners call for councils to dump fossil fuel investments
Local councils have lost up to £683 million from pension funds because of the falling value of investments in coal, campaigners have claimed.
Amber Rudd: Climate action about economic security
Taking action on climate change is the “ultimate insurance policy” to protect UK families and businesses, Amber Rudd will say. In her first major speech on tackling global warming, the Energy and Climate Change Secretary will say measures to curb rising temperatures are about ensuring economic security. She will tell business leaders at an event in the City of London that unchecked climate change would have a profound economic impact, leading to lower growth, higher prices and a lower quality of life. And, after a series of announcements of cuts to green policies, she will insist that the Conservatives are committed to taking action on climate change, in ways that will keep bills down and encourage businesses to innovate, grow and create jobs.
Edinburgh University steps to withdraw investments in fossil fuel producers
The University of Edinburgh is taking steps to withdraw its investments in fossil fuel producers, in response to pressure from student groups and activists. Students staged pickets and occupied a building after the university said two weeks ago it would only divest from companies that produce coal and tar sands if they are found not to be investing in technologies that address climate change. But yesterday the university said it is informing “three of the world’s biggest fossil fuel producers” of its intentions to divest from them within the next six months, giving them four weeks to respond.
CNR in preliminary agreement with Halliburton for UK fossil fuel deposits
The investment company founded by oil pioneer Algy Cluff has come to a preliminary agreement with US oil giant Halliburton to work together on cultivating UK fossil fuel deposits. The deal moves Cluff Natural Resources (CNR) another step closer to developing the UK’s first offshore Underground Coal Gasification (UCG) project. The process of tapping un-mined coal reserves involves pumping oxygen and water through a borehole to turn the fossil fuel into synthetic gas, which can then be converted into hydrogen, methane, carbon monoxide and carbon dioxide.