fossilfuels
Renewable energy was the leading source of electricity in the EU in 2023, according to preliminary data from Eurostat. Renewables accounted for 44.7 per cent of all electricity production generating 1.21 million Gigawatt-hours (GWh) - a 12.4 per cent increase from 2022. Rapid installation of new solar and wind projects across the bloc has helped push this figure up. Electricity from fossil fuels overall fell by 19.7 per cent in comparison, contributing 0.88 GWh or 32.5 per cent of the EU’s power. Natural gas supply fell by 7.4 per cent from 2022 - the lowest it’s been since 1995. The biggest d...
Euronews (English)
One method of making electricity cleanly to address climate change has been quietly advancing and on Tuesday it hit a milestone. A California utility is backing the largest new geothermal power development in the US - 400 megawatts of clean electricity from the Earth’s heat - enough for some 400,000 homes. Utility company Southern California Edison will purchase the electricity from Fervo Energy, a Houston-based geothermal company, Fervo announced. The company is drilling up to 125 wells in southwest Utah. Clean electricity like this reduces the need for traditional power plants that cause cli...
Euronews (English)
A new proposal in the New York Legislature would prohibit insurance companies from doing business in the state if they insure businesses that make over 10 percent of their money from fossil fuels. The bill, however, could backfire, encouraging insurers to vacate New York entirely rather than leave the lucrative industry. "Within five years of the effective date of this article," the bill mandates, the "superintendent shall require any insurer doing business in the state to certify that they have divested" from "any company that derives ten percent or more of revenue from exploration, extractio...
Reason
Around 80 per cent of Italians want their country to focus on protecting and restoring nature - yet the government was among a handful to vote against the EU's landmark Nature Restoration Law on Monday. That's just one small insight from the People’s Climate Vote, the biggest ever standalone public opinion survey on climate change, which was released today. Respondents from around the world echoed this call for governments to do more, with 80 per cent saying they want stronger action on climate change. An even higher number - 86 per cent - want their countries to set aside geopolitical differe...
Euronews (English)
On Monday, the French stock markets were impacted by Emmanuel Macron's call for a snap election following a bruising defeat by the far-right party, National Rally (NR), in the EU parliamentary elections. The benchmark CAC 40 index fell by 1.4% following the news, with major renewable energy stocks such as Engie SA, Voltalia SA, and Neoen SA declining between 1% and 5%. Far-right parties leverage their power with public dissatisfactionWith far-right parties gaining notable power in the EU elections, certain industries, such as renewable energy firms, could be significantly affected amid a poten...
Euronews (English)
UN Secretary-General António Guterres has called for advertising agencies and PR companies to stop working with fossil fuel companies. “Many in the fossil fuel industry have shamelessly greenwashed, even as they have sought to delay climate action – with lobbying, legal threats, and massive ad campaigns,” he said. “They have been aided and abetted by advertising and PR companies – Mad Men fuelling the madness.” During a speech to mark World Environment Day in New York on Wednesday, Guterres declared that fossil fuel advertising should be banned in the same way that tobacco ads were banned beca...
Euronews (English)
The rate Earth is warming hit an all-time high in 2023 with 92 per cent of last year's record-shattering heat caused by humans, top scientists calculated. The group of 57 scientists from around the world used UN-approved methods to examine what's behind last year's deadly burst of heat. They said even with a faster warming rate they don't see evidence of significant acceleration in human-caused climate change beyond increased fossil fuel burning. Last year's record temperatures were so unusual that scientists have been debating what's behind the big jump and whether climate change is accelerat...
Euronews (English)
The UAE’s state-owned oil company used last year’s UN climate summit to try and quintuple its fossil fuel deals, according to a new investigation. COP28 in Dubai was marred by controversy from the start of 2023, when the summit’s president was announced as Sultan Al Jaber, CEO of the Abu Dhabi National Oil Company (ADNOC). On the cusp of the conference in November, leaked documents revealed plans from the country’s COP28 team to discuss oil and gas deals with more than a dozen other nations - apparently leveraging its prestige as COP host to ADNOC’s advantage. Now an investigation from NGO Glo...
Euronews (English)
Energy ministers meeting in Brussels voted unanimously today (May 30) for the EU to officially withdraw the Energy Charter Treaty (ECT) while leaving open the possibility for member states to remain in their own capacity. Deciding on the bloc's future in the ECT was one of the commitments of the EU Belgian Presidency, the country’s energy minister Tinne Van Der Straeten told reporters today shortly before joining her counterparts at the Energy Council. Today’s decision followed a European Parliament vote last month signalling an overwhelming intention to quit the treaty. The ECT is a post-Cold...
Euronews (English)
More than a fifth of shareholders voted against Shell’s current climate strategy during the company’s annual general meeting (AGM) in London yesterday. At the same time, they rejected a climate resolution filed by shareholder activist group Follow This. The NGO, which unites shareholders in oil and gas companies to support climate resolutions, called for the company to align its targets with Paris Agreement goals. It is the first AGM since Shell scaled back several climate commitments earlier this year. In March, the company weakened its 2030 carbon reduction targets. It cited a strong demand ...
Euronews (English)
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