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Credit Suisse's previous sustainable finance mechanisms have been tailored towards the Sustainable Development Goals

Credit Suisse cuts fossil fuel lending as part of £250bn green finance promise

Swiss investment bank Credit Suisse has unveiled plans to provide more than £250bn in financing geared towards green bonds and the low-carbon economy over the next decade, as well as pledging to limit financing to the oil and gas sector.

Onshore and offshore wind each accounted for 10% of total domestic generation, the figures show. Pictured: Scout Moor wind farm

UK broke renewable energy generation record in 2019, latest BEIS figures show

The Department for Business, Energy and Industrial Strategy (BEIS) has published its latest annual energy statistics, revealing that a record 37.1% of the electricity generated in the UK in 2019 was renewable.

Nest has more than nine million members

UK's largest pension scheme charts pathway to net-zero

The Government-backed National Employment Savings Trust (Nest) scheme is set to begin divesting from fossil fuel projects immediately, as part of a new roadmap designed to ensure its operations are aligned with the UK's net-zero target.

The largest contributor to unconditional fossil fuel financing is the US

G20 nations funnel $151bn of Covid-19 recovery funding into fossil fuels

Of the Covid-19 recovery funding allocated to energy companies by G20 governments, 56% has been handed to fossil fuel projects, equivalent to $151bn (£119bn).

The fossil fuel lobby has been the most active of any sector since March

Report: Governments are bowing to fossil fuel lobbying in Covid-19 recovery planning

Almost two-thirds of the interventions which fossil fuel lobbyists made in policymaking between March and June were successful, new analysis has revealed.

Of the collective electricity generation capacity if the cohort, 60% is attributable to fossil fuel assets. Image: WBA

WBA: Less than 10% of electric utilities are taking Paris-Agreement-aligned climate action

Analysis of the decarbonisation ambitions and actions of 50 of the world's largest electric utilities companies has revealed that less than one in ten have fully aligned their business models with the Paris Agreement, despite the fact that the sector must 'enable' the global low-carbon transition.

The oil & gas sector is among the worst-affected by the impacts of Covid-19. Image: Royal Dutch Shell

Shell predicts $22bn hit for oil and gas assets as BP sells petrochemicals arm

Shell has unveiled plans to underwrite the value of its oil and gas portfolio by up to $22bn (£17.7bn) due to the energy demand slump caused by Covid-19, in the same week that BP has struck a $5bn (£4bn) deal to sell off its petrochemicals business.

The roadmap details a mix of solutions, including electrification, energy efficiency, reducing flaring and offsetting

UK's offshore oil and gas industry vows to halve operational emissions by 2030

The industry body for offshore oil and gas in the UK has published plans for halving emissions from production and exploration within a decade, but green groups say there must also be stronger accountability for indirect emissions.

Pictured: One of BP's ofshore platforms in Trinidad & Tobego. Image: BP

BP forecasts $17.5bn assets hit, accelerates strategy restructure to prioritise renewables

BP is preparing to reduce the value of its assets by between $13bn (£10.4bn) and $17.5bn (£14bn) over the next three months and says the impacts of the Covid-19 will spur its transition to low-carbon energy.

Under Theresa May, the Government broadly rejected recommendations from MPs for decarbonising the UKEF portfolio.

UK Government mulling ban on overseas fossil fuel financing, reports

Ministers are reportedly considering moves to ban the UK Government's direct lending facility from financing any new or existing fossil fuel projects overseas, following a series of high-profile exposés.

Pictured: The Cottam coal power station, which closed permanently in October 2019. Image: EDF

Britain goes 60 days without coal-fired power generation

As of midnight today (10 June), Britain has had no coal-fired power generation on its grid for a full two months - the longest period since the Industrial Revolution.

Heat accounts for more than a third of the UK’s greenhouse gas emissions

Heat Networks Industry Council set up to spur zero-carbon networks and job growth

Organisations overseeing the UK's heat networks and industry have created a new Council that will oversee plans to drive up to £50bn in investment into the sector to create 35,000 new jobs and deliver zero-carbon heat networks.

Carbon Tracker warns that any oil or gas producers attempting to revert to “business as usual” could be risking in excess of $100trn in potential profits

Fossil fuel profits set to collapse by two-thirds

The global market value of fossil fuels is set to collapse by almost two-thirds, creating heightened economic risk for companies, financial markets and countries failing to embrace new low-carbon technology.

The decision was agreed following consultation with 600 people, including staff members, students and alumni

University of Manchester targets net-zero investment portfolio

The University of Manchester has announced a new commitment to end investments into fossil fuel projects and organisations by 2022, in line to creating a net-zero investment portfolio by 2038 at the latest.

Glasgow was announced as the host city for COP26

Boris Johnson confirms new COP26 date, urges nations to focus on green recoveries

Prime Minister Boris Johnson has reiterated a desire for the UK to deliver a "sustainable" recovery from the coronavirus pandemic in a way that brings together key international nations to reach the ambitions of the Paris Agreement and the Sustainable Development Goals (SDGs).

The report estimates that lower prices, falling energy demand and increased cases of non-payments of bills will set energy revenues falling by more than $1trn in 2020

IEA: Coronavirus to cause largest ever drop in global energy investment

The world is on course to witness the largest ever drop in investment in global energy, with the coronavirus pandemic set to restrict spending across renewables, gas, fossil fuels and cleantech.

Glasgow was announced as the host city for COP26

Reports: COP26 to be delayed until November 2021

Reports have emerged that the UK Government has put forward the first two weeks of November 2021 as new proposed dates for the crucial COP26 climate conference, citing concerns over the state of international travel safety due to the coronavirus.

The partners hope the project can be replicated internationally

Copenhagen Airport spearheads green hydrogen project for transport fuel

Renewable energy company Ørsted and Copenhagen Airport are amongst the consortium of businesses aiming to develop a hydrogen and sustainable transport fuel facility in the heart of the Danish capital.

The health organisations are the latest to call for a green recovery

World health groups call for green coronavirus recovery

A coalition of global healthcare organisations, backed by more than 40 million healthcare professionals, have coordinated a written plea to governments to deliver health-based and climate-focused economic recoveries from the coronavirus pandemic.





Each of these success stories exemplifies how businesses are ramping up ambitions and actions in all areas of sustainable development 

World's largest hydrogen plant and UK's Gigafactory: The sustainability success stories of the week

As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.

The UK could become a world leader for green hydrogen, as it could become cost competitive much faster, due to enabling policies and low-cost and highly abundant renewable

Report: Renewables to account for three-quarters of UK's power demand by 2050

The UK could source 76% of its power demand from renewables by 2050, according to a new report from RenewableUK which claims that the nation's net-zero target will spur rapid demand for green hydrogen while attracting more than £50bn to an already world-leading offshore wind sector.

The document outlines sweeping green policy changes across energy, buildings and transport

Europe's draft 'green recovery' plan leaked

The European Commission's promised green recovery plan will focus on building renovation, renewables and hydrogen as well as clean mobility and the circular economy, according to a leaked working document obtained by EURACTIV.

The empty streets of Paris as a result of the lockdown, which is only starting to be lifted in the country

Lockdown sees global emissions fall by 17%

New research has suggested that daily global carbon emissions recorded in April 2020 were 17% lower compared to the same month last year, largely due to the coronavirus pandemic and forced lockdowns and postponement in production.

The call from the SBTi comes as politicians prepare to outline economy recovery packages to respond to the economic damage caused by the coronavirus pandemic

Business giants call for science-based green economic recovery

More than 150 business giants, including Carlsberg, H&M and Pernod Ricard, with a combined market capitalisation of more than $2.4trn, have signed a joint statement calling on all governments to align coronavirus economic responses to climate science.

Both internally and externally the tools are being developed and a movement is emerging to kickstart a new era of sustainable business.

Chief value officers and ESG investors: What could green finance look like in the new normal?

Whatever the new normal looks like once nations have battled their way through the coronavirus, the recent rhetoric around green finance suggests that both internally externally, the value of sustainability to a business is set to grow.

One key recommendation is the inclusion of “climate conditionalities” into stimulus packages that enable different-sized corporates to recovery through sustainable actions

Business leaders call for recovery packages to be tied to net-zero corporate targets

The chief executives from 40 global organisations including BP, Heathrow Airport, Shell and HSBC, have called on governments to focus economic recovery packages in ways that enable sectors and businesses to transition to low-carbon and resilient models of operation.

The decision was agreed by numerous stakeholders, including the Student Union and the OUem

Oxford University to divest from fossil fuels and align to net-zero strategies

Oxford University has announced that is divesting its remaining investments away from fossil fuel companies and how its fund management service can engage with organisations that showcase net-zero business plans.

The NGOs expressed concern that no insurer has a commitment to only support projects which are consistent with the needs of a 1.5C transition

NGOs call on investors to respond to coronavirus pandemic through net-zero transition packages

A collection of NGOs have written to some of the world's largest insurers, calling on them to address economic responses to the coronavirus outbreak in ways that are aligned with the urgent need to combat the climate crisis and steer the global economy towards a net-zero future.

The 11th Petersberg Climate Dialogue reiterated the need for climate action during the pandemic

Messages of hope: How world leaders are rallying for a green Covid-19 recovery

The two-day Petersberg Climate Dialogue finished yesterday evening, with ministerial leaders from the UK, Germany, the EU and the UN all delivering rallying cries for nations to focus on climate mitigation as part of any efforts to stimulate the economic downturned caused by the coronavirus outbreak.

40% of banks are failing to develop financing and investing restrictions or exclusions on high-carbon portfolios

Barclays and HSBC blasted over £158bn fossil fuel financing

Banking giants Barclays and HSBC have been accused of financing a combined £158bn into the fossil fuel sector since the signing of the Paris Agreement in 2015, despite both organisations pledging to ramp up sustainable investment portfolios.

Mighty Earth does note that some Governments and businesses are continuing to prioritise climate action as part of a stimulus response to the coronavirus

Airlines, automakers and fossil fuel firms blasted as 'coronavirus climate profiteers'

A new report has blasted the lobbying efforts of the airline, automaker, fossil fuel and logging industries, claiming that organisations are attempting to benefit from billion-pound bailouts in response to the coronavirus that enables them to carry on with climate-wrecking business practices.

Can you eliminate plastic in the workplace?

Back in 2017, WWF-UK pledged to eliminate all unnecessary single-use plastic throughout the organisation. Environmental Manager Lauren Wiseman explains how this year, that target was achieved.

The ENA has convened the UK’s leading gas operators such as Cadent, Northern Gas Networks, and National Grid to work on a project aiming to deliver the world’s first zero-carbon gas grid

Net-zero: Is the UK's gas grid ready to go green?

In a week where plans were unveiled for a nationwide roll-out of farming greenhouses heated by wastewater, the UK's major gas operators have teamed up to launch a programme aimed at delivering the world's first zero-carbon gas grid.

Climate experts had expected emissions to rise in 2020

Carbon emissions from fossil fuels could fall by 2.5bn tonnes in 2020

Global carbon emissions from the fossil fuel industry could fall by a record 2.5bn tonnes this year, a reduction of 5%, as the coronavirus pandemic triggers the biggest drop in demand for fossil fuels on record.

The thinktank found that 46% of global coal plants will be running at a loss in 2020, rising to 52% by 2030

Nations risking 'uneconomic' coronavirus responses by prioritising coal, report warns

China, the US, India and European nations are at risk of being burdened with uneconomic, long-term plans to stimulate their economies in response to the coronavirus outbreak by focusing on new coal capacity, a new study from Carbon Tracker warns.





Pictured: Cumbria's Walney Extension wind farm, the largest offshore wind array in the world

New renewable energy capacity hit record levels in 2019

Almost three-quarters of new electricity generation capacity built in 2019 uses renewable energy, representing an all-time record. New data from the International Renewable Energy Agency (Irena) shows solar, wind and other green technologies now provide more than one-third of the world's power, marking another record.

The two firms are two of the largest emitters globally

US clears Exxon and Chevron to dismiss shareholder climate reporting requests

The US Securities and Exchange Commission (SEC) has approved requests from both Exxon and Chevron to reject shareholder proposals that have called on the oil and gas giants to report on how the companies are addressing climate change by aligning to the Paris Agreement.

Due to pressure from MPs and constituents, the pension fund publicised 20% of its holdings for the first time in 2017. Image: UK Parliament

MP's pension fund still investing in fossil fuels

MPs have yet again called for the trustees of the Parliamentary Pension Fund to divest from fossil fuel companies Royal Dutch Shell and BP, having finally integrated investment into renewables into the fund.

Analysis of 35 leading investment banks shows financing of more than $2.66tn for fossil fuel industries since the Paris agreement. Image: Michielderoo/ CC BY 3.0

Global banks 'failing miserably' on climate crisis by funneling trillions into fossil fuels, study finds

The world's largest investment banks have funnelled more than £2.2tn ($2.66tn) into fossil fuels since the Paris agreement, new figures show, prompting warnings they are failing to respond to the climate crisis.

Last October, the Government rejected a string of recommendations from MPs aimed at decarbonising UKEF’s portfolio

UK Export Finance accused of climate 'hypocrisy' over funding

Updated: In the same week that the UK Export Finance’s (UKEF) direct lending facility has allocated more than £2bn for clean growth projects a global NGO has accused the government body of “rank hypocrisy” for breaching OECD guidelines by supporting overseas fossil fuel projects.

Green campaigners are seeking to embarass the Bank by highlighting "contradictions" in its climate approach. Image: George Rex, CC BY SA

Bank of England under pressure over board member's oil links

Environmental groups have called into question the Bank of England's commitment to tackling the climate emergency while it retains one of Britain's most senior oil company executives on its governing board.

Sharma has a busy 10 months ahead. Image: Gov.uk

Alok Sharma: What we know about the COP26 President's views on climate change

In an unexpected announcement, Business Secretary Andrea Leadsom has been replaced by International Development Secretary Alok Sharma, who has also been named as COP26 President. Here, edie examines Sharma's track record on climate legislation to date.

Robinson said that nations couldn't look to make themselves net-zero while continuing to fund polluting projects in developing countries

Mary Robinson: Business and governments must avoid net-zero 'hypocrisy'

EXCLUSIVE: The former president of Ireland Mary Robinson has claimed that net-zero commitments made by governments and corporates must lead to a "just transition" that also combats the "hypocrisy" of ignoring fossil fuel developments further afield.

This round-up documents how businesses and policymakers are driving progress across all areas of sustainable development 

BMJ's divestment campaign and India's net-zero trains: The sustainability success stories of the week

As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.

The report by Carbon Tracker, a financial thinktank, warns that sudden changes in policy in the future could halve the value of fossil fuel investments

Change climate policy now to avert oil market crisis, warns thinktank

The oil industry is at risk of a global market shock that could halve the value of fossil fuel investments if governments delay setting policies to tackle the climate crisis, according to new analysis.

A Drax spokeswoman said the company’s ambition was to be removing, not adding carbon to the atmosphere, by 2030

UK sued for approving Europe's biggest gas power station

The UK government is being sued for approving a large new gas-fired power plant, overruling the climate change objections of its own planning authority.

UK charitable foundations provide more than £4bn of funding every year 

Comic Relief among charities pledging to end fossil fuel investments

Comic Relief, Power to Change, and Guy's and St Thomas' Charity are the latest organisations that have committed to end all fossil fuel investment and adopt a new ethical approach to investing, after joining the Funder Commitment on Climate Change.

Beanland said the higher levies imposed on electricity supply vis-a-vis gas also needs to be addressed by policymakers

Government urged to target one million heat pumps a year by 2035

The UK must invest in ground source heat pump infrastructure in the 2020s, just as previous generations ploughed money into the gas and water grid, in order to help kickstart the fledgling sector.

Pictured: Equinor's Sleipner oil field. Image: Øyvind Gravås and Bo B. Randulff

'Near zero' by 2050: Equinor outlines new long-term emissions targets

Norwegian oil and gas giant Equinor has pledged to bringing the greenhouse gas (GHG) footprint of its onshore plants and offshore fields to "near zero" by 2050.

With a year to go, oil firm’s $2bn investment is well below its own guidance of $4bn-$6bn

Royal Dutch Shell may fail to reach green energy targets

Royal Dutch Shell is at risk of falling short on plans to invest up to $6bn (£4.6bn) in green energy projects between 2016 and the end of 2020, with its slow progress likely to raise concern that oil companies are not moving fast enough to help tackle the climate crisis.

Pictured: The Cottam coal power station, which is set to ceased generation in September 2019. Image: EDF

'Cleanest year on record': Zero-carbon electricity surpassed fossil fuel generation in 2019

During the course of 2019, 48.5% of electricity consumed in Britain was generated through zero-carbon methods such as wind, solar and nuclear - compared to 43% for fossil fuels.

Pictured: A Portugese offshore wind project jointly financed by Repsol, the EIB and EDP Renewables

Repsol targets net-zero by 2050

Spanish oil and gas giant Repsol has committed to becoming a net-zero emission business by 2050, across its own operations and its indirect impacts.

Pictured: The Shotton surface coal mine in Northumberland. Image: Rab Lawrence 

Report: Coal 'becoming uninsurable' as cover withdrawal doubles

The number of insurance firms withdrawing cover for coal companies and assets has more than doubled between 2018 and 2019, a new report has revealed.

The thinktank is calling for new measures to reach net-zero at the current 2050 deadline without spiralling costs or harming UK competitiveness

Net-zero by 2025 'practically impossible' due to spiralling costs, report finds

Moving the UK's net-zero emission target forward 25 years is "practically impossible", according to new thinktank research which found that setting a net-zero target for 2025 would cost £200bn each year at a minimum - more than the NHS's annual budget.

Pictured: Lignite-fired power plant in Agios Dimitrios, West Macedonia. Image: Tilemahos Efthimiadis / https://www.flickr.com/photos/telemax/3636859652 

Climate-heating greenhouse gas concentrations hit new high, UN reports

The concentration of climate-heating greenhouse gases hit a record high in 2018, according to a report from the UN's World Meteorological Organization.

Pictured: One of RWE's coal-fired power plants in mainland Europe. Image: Greenpeace

European coal power output sees 'unprecedented' decline

Electricity production from coal is on track to fall by around 3% globally in 2019 - the largest drop on record - with Western European countries leading the charge, according to fresh data published today (25 November).

The report said it was crucial that workers in fossil fuel industries were helped into new employment as production ramped down

Fossil fuel production on track for double the safe climate limit

The world's nations are on track to produce more than twice as much coal, oil and gas as can be burned in 2030 while restricting the rise in the global temperature to 1.5C, analysis shows.

Published last week, the WEO predicts further growth of coal in China, among other nations. Image: Kleineolive/ CC-BY-3.0 

Dozens of investors slam IEA over fossil fuels and renewables projections

Allianz, Zurich Insurance Group and Orsted's pension fund are among 65 finance bodies to have written to the International Energy Agency (IEA), urging to body to hep global energy firms align with the Paris Agreement.

The new policy will cut €2bn (£1.7bn) of yearly investments to fossil fuel projects

European Investment Bank to end financial support for fossil fuels by 2021

The European Investment Bank (EIB) has unveiled a new energy lending policy that will stop all financing for fossil fuel projects at the end of 2021 and unlock €1trn in sustainable development over the next decade.

Nine of the companies have set a 2050 deadline to achieve net-zero, while four set a date of 2025 or 2030

Just one in 10 of world's largest energy firms have net-zero targets, report finds

Just 10% of the world's largest 132 coal, electricity and oil and gas companies have set time-based commitments to reduce their greenhouse gas emissions to net-zero, with just three companies also pledging to reduce indirect emissions as well.

BCAM is calling for banks to set clear, timebound strategies for restrictions and phase-outs for financing fossil fuels and deforestation

Superficial progress: Global banks failing to deliver time-bound climate strategies

A new report has accused the banking sector of superficial progress when it comes to climate commitments, noting that uptake in low-carbon services, green bonds and reporting standards isn't being matched by demands to decarbonise portfolios.

Williams believes the will of citizens is there to deliver a low-carbon economy in the US

Beyond Carbon: The $500m plan to create a low-carbon US, with or without Trump

EXCLUSIVE: President Donald Trump may have officially kickstarted the process to withdraw the US from the Paris Agreement, but there is a movement of cities, states and businesses that is driving the nation towards 100% clean energy, with or without support from the federal government.

Growing energy demands were largely met using fossil fuels, the report states. Pictured: The WilPhoenix offshore oil rig in Scotland. Image: Joe deSousa

Capgemini: Meeting global climate goals 'looks unrealistic' as energy consumption grows

Global energy demand rose by 2.3% year-on-year in 2018 - a trajectory which, if sustained, will leave the world unable to meet international and national climate goals including the Paris Agreement.

Since 2011, the global proved reserves of oil and gas have increased

Oil and gas giants must cut production by a third to meet climate targets

The world's largest oil and gas companies must cut combined production by 35% by 2040 if nations are the meet the collective ambitions of the Paris Agreement and limit global warming to below 2C, a new report from Carbon Tracker has found.

BP's chief executive Bob Dudley and group chief economist Spencer Dale on stage at the One Young World summit

BP chief: Alternative to 'polluter pays' carbon tax can help meet net-zero

BP's chief executive Bob Dudley and group chief economist Spencer Dale believe that regional carbon prices that don't just tax the producers will enable the oil and gas giant to join the global transition to net-zero emissions, but neither were convinced of when that would happen.

Blockade of a fracking waste dump in Neuquen province, Argentina. Image: Mapuche Confederation of Neuquen

UK to use finance meant for green energy to support fracking in Argentina

The UK is planning to invest in Argentina's controversial oil shale industry using a £1bn export finance deal intended to support green energy, according to government documents seen by the Guardian.

Due to pressure from MPs and constituents, the pension fund publicised 20% of its holdings for the first time in 2017. Image: UK Parliament

300 MPs call for Parliamentary Pension Fund to divest from fossil fuels

Trustees of the £700m Parliamentary Pension Fund have been urged to respond to the climate emergency by 300 MPs who have asked that the fund divests from holdings in fossil fuel companies such as BP and Royal Dutch Shell.

Pictured: The Beatrice Offshore Windfarm is the UK's second-largest. Image: SSE

Renewable generation overtakes fossil fuels in UK electricity for first time

Renewable energy sources provided more electricity to UK homes and businesses than fossil fuels for the first time since the Industrial Revolution over the last quarter, according to new research.

Shell's corporate membership deal will not be renewed upon its expiry in June 2020. Image: the National Theatre

National Theatre to end Shell membership deal amid climate protests

The National Theatre has announced plans to end its corporate membership deal with Shell last year, following climate protests calling on arts and culture bodies to cut ties with fossil fuel firms.

Less than one-fifth of the banks studied have set time-bound, numerical targets for fossil fuel divestment or clean energy investment. Image: Paulm27/ Wikimedia Commons

Report: Less than half of global banks have sustainable energy finance commitments

Just 23 of the world's largest 50 banks have outlined commitments to invest more in renewable energy and less in fossil fuels, a new report from the World Resources Institute (WRI) has concluded.

UKEF is estimated to have provided an average of £551m in support of fossil fuel production overseas each year between 2014 and 2016 

UK Government will continue to invest in fossil fuels overseas, despite MPs' concerns

The Government has broadly rejected a string of recommendations from MPs aimed at decarbonising the portfolio of the UK's export credit agency, which has continually been found to be financing fossil fuel projects in developing nations.

Pictured: Logging operations in Pomio, New Britain, Papa New Guinea, to make way for agri-food. Image: Fabio Erdos / Panos 

UK banks 'pouring billions into fossil fuels and deforestation', despite green pledges

UK banks have allocated almost £150bn of funding for fossil fuel projects since the start of 2016 and continue to collectively hold 146 investment pots in firms driving significant levels of rainforest deforestation.

John Holland-Kaye joined more than 60 Heads of State at the UN Summit on Climate Action this week

Heathrow CEO: Aviation sector must set net-zero plan 'as soon as possible'

EXCLUSIVE: Heathrow Airport's chief executive John Holland-Kaye has joined the growing calls for the aviation sector to implement a net-zero strategy, claiming that "imposing punitive costs" will not deter people from flying less.

In 2018, renewable energy growth reached 7.2%, its highest since 2010, but still accounts for less than 12% of the energy system

Global decarbonisation efforts 'stall', pushing climate goals out of reach

Global decarbonisation efforts will need to be seven times greater than current efforts, if the world is to stand a fair chance of limiting global warming to 1.5C, according to a new PwC report which found that the rate of global decarbonisation has slowed to its lowest level since 2011.

Pictured: Inside one of Amazon's US fulfilment centres. Image: Amazon US

Amazon staff plan mass walkout over slow climate action

More than 900 Amazon employees have said they will walk out later this month in support of the School Strikes for Climate movement.

Investment decisions on a further $21bn in 12 high-carbon projects are due this year

Oil and gas companies risking £1.8trn in stranded assets during low-carbon transition, report warns

Oil and gas companies have spent £40.5bn ($50bn) on investment projects that undermine the Paris Agreement, with a new report from think tank Carbon Tracker warning that major companies risk wasting £1.8trn ($2.2trn) on stranded assets by 2030.

The webinar is free-to-attend and will be available to watch on demand afterwards

Available to watch on-demand: Free Corporate Power Purchase Agreements online masterclass

With businesses having doubled the record for annual power purchase agreements (PPAs) in 2018, edie hosted a 45-minute masterclass that is now available to watch on-demand to explore how Corporate Power Purchase Agreements (CPPAs) can push businesses towards their clean energy goals.

In the Blueprint, the industry has committed to keeping production above one million barrels of oil equivalent per day

Oil and gas industry's net-zero blueprint branded 'overt lobbying'

Green groups have criticised the UK's offshore oil and gas industry's blueprint to contribute to net-zero emissions by 2035, claiming that the accompanying evidence fails to "leave fossil fuels in the ground".

As of 2018, more than 5,500 places of worship have switched to renewables

Catholic churches and schools sign major British Gas renewables deal

The Catholic Church has signed one of the UK's largest green energy contracts, which has seen more than 4,500 churches and schools switch to renewable gas and electricity supplied by British Gas.

The commitment was made later last week. Image: University of Liverpool

University of Liverpool to divest entirely from fossil fuels

The University of Liverpool has become the latest higher education facility in the UK to commit to removing fossil fuel investments from its portfolio, following pressure from students and staff.

The report concludes that getting the same amount of mobility from gasoline as from new renewables in tandem with EVs over the next 25 years would cost 6.2 to seven times more

Report: Economics of petrol and diesel in 'irreversible decline'

Oil production costs must fall to $10-20 per barrel for petrol and diesel to compete effectively against renewable power in the transport sector, a new report has claimed.

edie's next masterclass: adopting Corporate Power Purchase Agreements

As Corporate Power Purchase Agreements (CPPAs) become a popular tool for businesses to meet their energy needs in a sustainable way, and with more companies moving away from fossil fuels, it is crucial to understand the process to adopt these Agreements.

The EU’s lending arm financed oil, gas and coal projects in 2018 with more than €2.4bn

EIB plans to cut all funding for fossil fuel projects by 2020

The European Investment Bank (EIB) has vowed to end its multibillion-euro financing for fossil fuel projects by the end of next year in order to align its strategy with climate targets.

One-third of the electricity produced in the UK in 2018 was renewable, new Government figures show

UK set to miss renewable energy target despite breaking records

Despite 2018 being another record year for renewable generation, official figures on energy consumption across the UK last year suggest that national 2020 renewable energy targets will be missed.

Coal-fired power plant in South Africa

UK's overseas energy aid spending on fossil fuels spirals to £4.6bn

Over the last seven years, the UK has spent 60% of its overseas support for energy investment in developing countries on fossil fuels, with more than £4.6bn spent on climate-wrecking projects.

These stories exemplify how businesses and governments across the world are ramping up efforts in all areas of sustainable development

Coors' plastic-free packaging and solar-powered trains: The sustainability success stories of the week

As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.

The RSA and RCEM hope their commitments will inspire broader action

Royal institutions divest from fossil fuels, encourage others to follow suit

To mark London Climate Action Week, the Royal College of Emergency Medicine (RCEM) and the Royal Society of Arts have sold all remaining shares in fossil fuel companies.

The Trust looks after 780 miles of coastline and 248,000 hectares of land, as well as its 500+ visitor sites. Pictured: Fountains Abbey, Yorkshire

The National Trust to divest entirely from fossil fuels

Europe's largest conservation charity has announced that it will divest from all fossil fuel companies within the next three years.

The subsidies for coal mining halved, from $22bn to $10bn

G20 nations triple coal power subsidies despite climate crisis

G20 nations have almost tripled the subsidies they give to coal-fired power plants in recent years, despite the urgent need to cut the carbon emissions driving the climate crisis.

Former National Grid boss Steve Holliday: We can't isolate oil & gas majors on path to net-zero

Former National Grid boss Steve Holliday urged greater business and policy action to involve oil and gas firms in the power sector's low-carbon transition, arguing that such businesses must be "central" to transformation.

Two-thirds of the world’s energy demand increase was due to higher demand in China

Energy industry's carbon emissions rise at fastest rate in nearly a decade

Carbon emissions from the global energy industry rose at the fastest rate in almost a decade in 2018 after surprise swings in global temperatures stoked extra demand for fossil fuels.

The six-month inquiry began last December 

MPs call for halt on support for fossil fuels in developing nations

Of the £2.6bn which the UK's export credit agency spent supporting energy exports abroad between 2013 and 2018, 96% was funnelled into fossil fuel projects, mostly in developing nations.

Readings from Hawaii observatory bring the threshold of 450ppm closer sooner than had been anticipated (stock photo)

Latest greenhouse gas emissions data shows steep rises in CO2 for seventh year

The concentration of carbon dioxide in the atmosphere has increased by the second highest annual rise in the past six decades, according to new data.

MPs have called on their own pension fund to divest its fossil fuel holdings

MPs apply pressure on pension funds over fossil fuel holdings

More than one third of MPs have called on pension fund trustees to halt investment in fossil fuels to support a move to a net-zero carbon economy.

Staff and students at Cambridge University have long been lobbying for its management to divest from companies in the fossil fuel industry

Cambridge University agrees to explore fossil fuel divestment plan

The former archbishop of Canterbury Rowan Williams has welcomed an "urgent change" by Cambridge University, after it agreed to provide fully costed plans setting out how it could divest multibillion-pound endowments from fossil fuel corporations.

The World Bank has argued that the study “paints a distorted picture of [its] energy sector work”

The World Bank accused of dodging 'no-coal' pledge by funnelling billions of dollars into fossil fuels

A large-scale study on hundreds of active energy projects commissioned by The World Bank Group has concluded that the body is currently financing $21bn of fossil fuel projects, compared to $7bn in the renewables sector.

Shell commits $300m to conservation and carbon offset projects

Oil giant Shell has unveiled plans to invest $300m over the next three years on conservation and carbon offset projects in a bid to reduce its carbon footprint by up to 3%.

Participants of REBA account for 95% of all large-scale corporate renewable energy deals in the US to date

Corporate giants target 60GW of US renewable energy

Google, Facebook and Walmart are amongst the businesses to commit to bringing more than 60GW of renewable energy online in the US through the Renewable Energy Buyers Alliance (REBA).

Friends of the Earth says the figure of £44bn is

Report: UK oil and gas industry 'responsible for £44bn of damage each year'

The UK's oil and gas sector is causing £44bn worth of costs through environmental damage, negative social impacts and healthcare spending, a new Friends of the Earth (FotE) report has concluded.


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