fossil fuel economy News

  • Fossil Fuel Subsidies Hamper Pathway to Inclusive Green Economy, Experts Say

    Fossil fuel subsidies are contributing to fiscal instability and undermining governments' efforts to combat serious economic and environmental challenges, such as climate change, and the transition to an inclusive green economy, according to experts. "Reforming Fossil Fuel Subsidies for an Inclusive Green Economy" is the theme of the two-day event co-organized by UNEP, IMF, GIZ and the ...

  • IEA calls for end to fossil fuel subsidies

    The chief economist of the International Energy Agency (IEA) has urged the world to slash hundreds of billions of dollars of fossil fuel subsidies or face the prospect of a catastrophic 3.5 degrees Centigrade rise in global temperatures. "Today $409 billion equivalent of fossil fuels subsidies are in place which encourage developing countries - where the bulk of the energy demand and CO2 ...


    By GLOBE SERIES

  • Fossil fuel investments cost major funds billions

    Corporate Knights, together with 350.org and South Pole Group, has launched the Clean Capitalist Decarbonizer, an interactive tool that allows users to determine the financial impact of divesting from carbon heavy companies. ...


    By GLOBE SERIES

  • Climate meeting to discuss future of fossil fuels

    After concluding that global warming almost certainly is man-made and poses a grave threat to humanity, the U.N.-sponsored expert panel on climate change is moving on to the next phase: what to do about it. The Intergovernmental Panel on Climate Change, or IPCC, will meet next week in Berlin to chart ways in which the world can curb the greenhouse gas emissions that scientists say are overheating ...


    By Associated Press

  • Denmark to become fossil fuel-free by 2050

    According to the Danish climate commission, Denmark could become fossil fuel-free by 2050, at a net cost of just US$2.95 billion. The report that sets the fossil fuel free goal makes the case for investing an amount equivalent to 0.5% of the country's annual GDP in renewable energy. The climate commission claims that prices of fossil fuels will rise over the next four decades, while renewables ...


    By GLOBE SERIES

  • Fossil Fuel Development in the Arctic is a Bad Investment

    By Emily E. Adams Even master chess players can miss a great move when they have been primed to look for a different one. To explore this phenomenon, researchers tracked master chess players’ eye movements when given chessboards with different layouts. With the first board, players could reach checkmate using a familiar move. When given the second chessboard, the players' eyes kept looking ...


    By Earth Policy Institute

  • End fossil fuel subsidies now, says OECD and IEA

    Governments and taxpayers spent about half a trillion dollars last year supporting the production and consumption of fossil fuels. Removing inefficient subsidies would raise national revenues and reduce greenhouse-gas emissions, according to OECD and IEA analyses. The G-20 Leaders in 2009 agreed to phase out subsidies that "encourage wasteful consumption, reduce our energy security, impede ...


    By GLOBE SERIES

  • Closing the $70 Billion Climate Finance Gap – End Fossil Fuel Subsidies

    The world’s developed countries have committed to mobilize $100 billion a year by 2020, from public and private sources, to help developing countries adapt to the impacts of climate change and reduce their emissions. The latest accounting of climate finance shows there is a gap of about $70 billion. Closing that gap is critical to building the trust necessary to ...


    By GLOBE SERIES

  • Global trends in green energy 2009: new power capacity from renewable sources tops fossil fuels

    In 2009, for the second year in a row, both the US and Europe generated more power capacity from renewable sources such as wind and solar than from conventional sources like coal, gas and nuclear, according to twin reports launched today by the United Nations Environment Programme and the Renewable Energy Policy Network for the 21st Century (REN21). - Global investments in renewables top ...

  • G-7 Set Far-Off Goal to Move Away from Fossil Fuels

    The world should move away from using fossil fuels by the end of this century, G-7 leaders said Monday, setting an ambitious but distant goal ahead of a global conference on climate change this year. The leaders of seven wealthy democracies also warned Russia that sanctions imposed for its actions against Ukraine would remain until a cease-fire is fully observed in eastern Ukraine - and those ...


    By Associated Press

  • Solar Photovoltaics Gaining Momentum and Poised to Challenge Fossil Fuels, Say IEEE Solar Experts

    Within the next 10 years, solar photovoltaic (PV) systems have the potential to be the most economical form of generating electricity, even compared to traditional fossil fuels, say solar energy experts from IEEE, the world's largest technical professional association. To achieve this cost parity, the global industry must continue to improve the efficiency of solar PV cell technologies and create ...

  • Fossil fuels have to be reduced by 50% until 2035 to reach the global climate targets

    The WBA board, during its meeting in Nairobi, discussed the results of the G7 summit on the future of renewable energy. The target towards a fossil free economy in this century gives an important signal to the renewable energy industry like bioenergy. Now a global road map is needed toward this target with clear milestones that correspond to the IPCC findings on climate mitigation. As president ...

  • Argentina more than doubles required ethanol blend to move away from fossil fuels

    On April 8, 2016, Reuters reported that Argentina is planning on increasing the required percentage of ethanol in gasoline from 12 percent to 26 percent. Specific targets have not yet been created for increasing the required ethanol blend, but Argentina has been increasing the required ethanol percentage to reduce energy deficits and ...


    By Bergeson & Campbell, P.C.

  • New Bio-based Outlook: low fossil energy prices obstruct positive effect of bioeconomy

    The transition from a fossil-based economy to a bioeconomy contributes to reduce the dependency on fossil fuels, to meet our greenhouse gas emission reduction targets, and strengthen the Dutch economy. This macroeconomic assessment of large-scale deployment of biomass to 2030 shows that a bioeconomy can positively contribute to the Dutch economy, contributes to achieving the emission reduction ...

  • Food as fuel - are biofuels to blame?

    The United Nations has accused the US and the European Union of having taken the "criminal path" by contributing to an explosive rise in global food prices through using food crops to produce biofuels. This comes in the wake of skyrocketing prices and plummeting food supplies in the developing world. But many questions remain as to whether biofuels are the root cause of the current world food ...


    By GLOBE SERIES

  • Sustainable energy roadmaps chart course to healthier economies and societies

    By embracing an integrated mix of renewable energy, energy efficiency, and grid technologies, countries can put their energy systems on a more sustainable path while developing economically, according to a new report from the Worldwatch Institute. The report, Sustainable Energy Roadmaps: Guiding the Global Shift to Domestic Renewables, lays out an innovative, targeted approach that details how ...


    By Worldwatch Institute

  • NAFTA Advisory Group calls for shift to a sustainable energy economy in North America

    The Joint Public Advisory Committee (JPAC) of the Commission for Environmental Cooperation has issued a series of practical recommendations to the top environment officials of Canada, Mexico and the United States to do more to move North America toward a truly sustainable energy economy. The ...


    By GLOBE SERIES

  • Energy Transition Fast Forward: Scouting the Solutions for the Renewable Economy

    Impact Economy has launched a report on disruptive innovation opportunities in the renewable energy industry. The lead question was what would need to happen if we were to dramatically accelerate the energy transition under way. Which technologies should we back, and how can we get them to market much faster? Based on a nine-month comprehensive global scouting effort for the most promising clean ...


    By GLOBE SERIES

  • Retooling a developed economy’s energy base: Germany at the head of the class

    The European Union has been far more united and proactive than the US federal government when it comes to policies ushering in post-petroleum and fossil fuel era by restructuring and retooling its energy and industrial infrastructure. Germany is at the forefront of this wave of change. Energy consumption in Germany dropped 5.6% - the equivalent of 18.5 tons of oil - in 2007 as its economy grew ...

  • Homes and economy to benefit from energy and climate policies - Huhne

    Green Deal scheme will kick start £14bn investment over the next decade, supporting at least 65,000 insulation and construction jobs by 2015 £1.3 billion a year additional help from energy companies for vulnerable and hard-to-insulate homes Overall average household energy bill in 2020 will be 7%, or £94, lower than without energy and climate polices ...

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