British Steel’s plant in Scunthorpe, Lincolnshire, employs 2,700 people, about three-quarters of the company’s entire workforce. It is the last plant in the UK capable of producing virgin steel, which is…Continue readingWhy did the government take control of British Steel?
Tag: coal
US President Donald Trump on Tuesday signed executive orders to “turbocharge coal mining” in the country, seeking to “more than double” electricity production to keep up with power-hungry artificial intelligence technology.…Continue readingTrump signs executive order to ‘turbocharge’ coal mining across the US
Donald Trump’s new tariffs are set to pummel the renewable energy industry, threatening to push up prices, disrupt supply chains and undercut US ambitions to lead the artificial intelligence revolution, clean-technology…Continue readingDonald Trump’s tariff blitz sparks turmoil for green energy sector
The climate crisis is on track to destroy capitalism, a top insurer has warned, with the vast cost of extreme weather impacts leaving the financial sector unable to operate. The world…Continue readingClimate crisis on track to destroy capitalism, warns top insurer
A Czech billionaire is accelerating his “contrarian approach” of acquiring carbon-intensive assets outside the EU, which has been given a boost by Donald Trump’s election as US president and promotion of…Continue readingCzech coal and gas investor Pavel Tykač sees vindication in Trump’s White House return
Texas and 10 other Republican-led states are suing BlackRock, State Street and Vanguard, alleging they conspired to curtail coal supplies to further “a destructive, politicised environmental agenda”. The federal antitrust lawsuit…Continue readingRepublican US states sue BlackRock for ‘destructive’ green agenda
As the Danish renewable energy company Ørsted battled to restore its reputation following a bruising year, a rival across the North Sea had the company in its sights. After months of…Continue readingHow the world’s biggest offshore wind company was blown off course
A group of prominent scientists, advocates and policy leaders have issued an open letter to the Executive Secretary of the UNFCCC Secretariat Simon Stiell as world leaders gather in Baku for…Continue readingGlobal climate leaders want COP29 to succeed but call for urgent overhaul of the process
Although many countries have explicitly promised to reduce fossil fuel subsidies to combat climate change, this has proven difficult to accomplish. As a result, fossil fuels remain relatively inexpensive, and their…Continue readingCountries spend huge sums on fossil fuel subsidies
Highlights of Energy Law of the People’s Republic of China, adopted at the 12th meeting of the Standing Committee of the 14th National People’s Congress on November 8, 2024 –Continue readingNew Energy Law passed by People’s Republic of China
New global findings in the 8th annual indicator report of The Lancet Countdown on Health and Climate Change reveal that people in every country face record-breaking threats to health and survival…Continue readingExperts call for trillions of dollars spent on fossil fuels to be redirected
Foreign aid for fossil fuel projects quadrupled in a single year, a report has found, rising from $1.2bn in 2021 to $5.4bn in 2022. The report found the top five funders…Continue readingForeign aid for fossil fuel projects quadrupled in a single year
We are seeing unprecedented rapidly intensifying tropical storms such as Hurricane Helene in the eastern United States and Super Typhoon Yagi in Vietnam. Unprecedented fires in Canada have destroyed towns. Unprecedented…Continue readingUnprecedented peril: Disaster lies ahead as we track towards 2.7°C of warming this century, researchers warn
An international coalition led by Oregon State University scientists concludes in its annual report published in BioScience that the Earth’s worsening vital signs indicate a “critical and unpredictable new phase of…Continue readingClimate report warns of escalating crisis, urges immediate action as UN summit nears
Many of Earth’s “vital signs” have hit record extremes, indicating that “the future of humanity hangs in the balance”, a group of the world’s most senior climate experts have said. More…Continue readingEarth’s ‘vital signs’ show humanity’s future in balance
More than $650bn (£494bn) a year in public subsidies goes to fossil fuel companies, intensive agriculture and other harmful industries in the developing world, new data has shown. The subsidies entrench…Continue readingMore than £494bn subsidies a year in developing world harmful to climate
Fossil fuel companies pumped at least $5.6bn (£4.2bn) of sponsorship money into motorsports, football, golf and even snow sports in an effort to “buy social licence to operate”, according to a…Continue readingFossil fuel companies sponsor $5.6bn in global ‘sportswashing’ deals
A world where global mean surface temperature has increased 3°C will be characterized by widespread and intense heat stress, extreme weather events, ruptured and unproductive marine and terrestrial ecosystems, broken food…Continue readingEarth at risk: An urgent call to end the age of destruction and forge a just & sustainable future
Australia’s big four banks are in “complete violation” of commitments to the Paris climate accord by funding fossil fuel expansion even as their overall lending to the sector continues to ebb,…Continue readingAustralia’s big banks lent $3.6bn to fossil fuel expansion projects in 2023
President Joe Biden’s signature climate law is nearly two years old, and the tug-of-war over its future is only getting more fierce. The Biden administration is facing election year pressure from…Continue readingGas, greens and brownouts: The energy war is boiling over
Researchers for the banking on climate chaos report, now in its 15th edition, analysed the world’s top 60 banks’ underwriting and lending to more than 4,200 fossil fuel firms and companies…Continue readingBanks have given almost $7tn to fossil fuel firms since Paris deal
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current energy transition strategy as a misguided failure. “In the real world,…Continue readingSaudi Aramco CEO calls energy transition strategy a failure
Oxford university has come under heavy criticism after its £6bn endowment fund increased its investment in fossil fuels just a few years after making a landmark commitment to divestment. About £1 out of…Continue readingOxford under fire for increasing fossil fuel investments
Climate agreement may fail to result in falls in oil and gas production. The world’s largest oil producers have saluted the COP28 agreement’s focus on an “orderly” move away from fossil…Continue readingBig oil welcomes COP28 call to move away from fossil fuels in ‘orderly’ way
Urgewald, a campaign group that tracks global fossil fuel finance, found that the World Bank supplied about $3.7bn (£2.95bn) in trade finance in 2022 that was likely to have ended up…Continue readingWorld Bank spent billions of dollars backing fossil fuels in 2022
Fossil fuels benefited from record subsidies of $13 million (£10.3m) a minute in 2022, according to the International Monetary Fund, despite being the primary cause of the climate crisis. The IMF…Continue readingFossil fuels being subsidised at rate of $13m a minute
UN secretary-general António Guterres attacked oil and gas industry attempts to justify fossil fuel expansion with carbon capture technology as “proposals to become more efficient planet wreckers”, in a speech that…Continue readingUN chief attacks oil and gas industry ‘planet wreckers’ over fossil fuel expansion
Trillions of dollars of subsidies for fossil fuels, farming and fishing are causing “environmental havoc”, according to the World Bank, severely harming people and the planet. The “toxic” subsidies total at…Continue readingVast fossil fuel and farming subsidies causing ‘environmental havoc’
Already, the Beijing office of Greenpeace is sounding the alarm. In the first three months of 2023, provincial governments in China approved more new coal-fired electricity generation than they did in…Continue readingChina ramps up coal power while pushing for renewables
About USD 2.8 trillion is set to be invested in energy globally in 2023, USD 1.7 trillion of which will go to clean technologies. The remaining roughly USD 1 trillion is…Continue readingHumanity still investing in fossil fuels
Financial institutions signed up to GFANZ initiative accused of acting as ‘climate arsonists’.Continue readingBanks still investing heavily in fossil fuels despite net zero pledges – study
Woodside Energy, Santos and BHP among companies who have sponsorship deals with Australian arts, sport, education and community organisationsContinue readingFossil fuel interests revealed to have sponsored more than 500 Australian community organisations
Wealthy nations have offered Vietnam a $15.5 billion package to help pay for its move from coal to renewable energy, the latest in a total of $44 billion in deals aimed…Continue readingWealthy nations offer Vietnam $15 billion-plus deal to shift from coal
Woodside Energy, Australia’s largest energy producer, on Tuesday capped a string of bumper results by oil, gas and coal producers. The Perth-based company said its net profit after tax rose five-fold…Continue readingHuge profits for fossil-fuel giants Woodside, Whitehaven and Santos
Global public subsidies for fossil fuels almost doubled to $700 billion in 2021. Despite the huge profits of fossil fuel companies, the subsidies soared as governments sought to shield citizens from…Continue readingGlobal fossil fuel subsidies almost doubled in 2021
In recent years, Wall Street firms have tried to talk up their commitment to the environment and social justice. Now they are singing a different tune. Large US banks such as…Continue readingUS banks tout fossil fuel credentials
To understand why it is proving so hard to break up with coal, we worked with an international team of around 35 researchers to investigate the political economy drivers of its…Continue readingMany countries continue to invest in coal
Coal prices are soaring, hitting $462 per tonne today, up from $186 on the 23rd of February and likely to pass $500 this year. Russia is Europe’s largest supplier of thermal coal. Last…Continue readingOld King Coal: price reaches highest level in more than 200 years, on track for $500
Gautam Adani and Mukesh Ambani are profiting from a surge in global commodity prices triggered by Russia’s invasion of Ukraine, burnishing their fossil-fuel credentials even as Asia’s richest men publicly push…Continue readingCoal, oil price surges on Ukraine war make Asia’s richest richer
China’s National Development and Reform Commission (NDRC), the country’s top economic planner, will launch special investigation into the implementation of medium- and long-term contracts signed by coal suppliers in 2022. The…Continue readingMedium- and long-term contracts signed by Chinese coal suppliers shall account for over 80% of their resources: economic planner
There is “no longer any realistic chance” for an orderly transition for global financial markets because political leaders will be forced to rely on “handbrake” policy interventions to cut emissions, according…Continue readingPrepare for DISORDERLY shift to low-carbon era