Page 10 - Fossil Fuel

COP27: Treaty against use of fossil fuels floated at UN climate summit

The world should adopt a treaty that stops the spread of fossil fuel energy, much like it has tried to with nuclear weapons, a prominent small island leader proposed as vulnerable nations Tuesday continued to push for more action and money at international climate talks. Tuvalu Prime Minister Kausea Natano told The Associated Press Tuesday morning that he would propose a non-proliferation treaty for coal, oil and natural gas later in a speech at the United Nations climate summit in Egypt. Natano and Tuvalu, along with other vulnerable nations, have moral authority in negotiations, especially in light of mega climate disasters. A year ago at climate talks in Glasgow, a proposal to call for a phase out coal the dirtiest of the fossil fuels was changed at the last minute to phase down by a demand from India, earning the wrath of small island nations and some vulnerable countries. Small island nation leaders also called for some kind of global tax on the profits of fossil fuel ...

World leaders push for climate action, fossil fuel tax at UN talks

World leaders are making the case for tougher action to tackle global warming Tuesday, as this year's international climate talks in Egypt heard growing calls for fossil fuel companies to help pay for the damage they have helped cause to the planet. United Nations chief Antonio Guterres warned Monday that humanity was on a highway to climate hell with our foot on the accelerator," urging countries to "cooperate or perish. He and leaders such as Barbados Prime Minister Mia Mottley said it was time to make fossil fuel companies contribute to funds which would provide vulnerable countries with financial aid for the climate-related losses they are suffering. The idea of a windfall tax on carbon profits has gained traction in recent months amid sky-high earnings for oil and gas majors even as consumers struggle to pay the cost of heating their homes and filling their cars. The U.S. mid-term elections were hanging over the talks Tuesday, with many environmental campaigners worried that .

European Parliament to vote policy to ensure shift to renewable energies

Ironically coinciding with the Finance Day at COP27 in Egypt, this loophole would be in stark contradiction to the imperative to end all fossil fuel subsidies as soon as possible

COP27: A year on from Glasgow meet, world burning more dirty fuel than ever

COP27: a year on from the Glasgow climate pact, the world is burning more fossil fuels than ever

Methane clouds spotted in China's northeast by high-resolution satellite

Methane is the primary component of natural gas and responsible for about 30% of the Earth's warming. Leaks can occur during extraction and transport of the fossil fuel

Instead of phasing down coal the world is burning it more than ever

Outside of China and India, plans for new production capacity are limited. Along with expectations that gas will remain costly after Russia's invasion of Ukraine,

Activists target buildings in London to protest against fossil fuels

A climate activist group recently targeted landmark buildings in London by spray painting them in an act of protest against fossil fuels

Why it might be better to mine the world's rainforests than farm them

Some 6,732 sq km of Indonesian forest has been granted to nickel mining concessions, a coalition of environmental groups wrote in a July letter to Tesla Inc.

Emissions to hit a peak by 2025, demand for fossil fuel to reduce: IEA

Global greenhouse emissions will peak in 2025 as the world goes through a "profound reorientation" in terms of energy use, said the World Energy Outlook 2022 report

EU, China remain Russia's largest fossil fuel customers: CREA data

Criticism of recent Indian purchases ignore the fact that traditional buyers still dominate this market

India to have over 65% power capacity from non-fossil fuels by 2030: Singh

India will have more than 65 per cent of its power generation capacity from non-fossil fuels by 2030, Power and New & Renewable Energy Minister RK Singh said on Monday. Addressing a CII conference on green energy, he explained that India is aiming for 65 per cent of power generation capacity from non-fossil fuels but the country will have more than that. India will have 90 GW of solar equipment manufacturing capacity by 2030, up from 20GW at present, he added. He also informed that about 15-20 GW of solar equipment manufacturing capacity is under construction and India will have 40 GW of such facilities under Production-Linked Incentive Scheme-II (PLI-II). The minister also urged the industry player to shift to the manufacturing of high-efficiency solar equipment. He stated that the country has already 170 GW of renewable energy (including large hydro), while another 80 GW is under construction. India has planned to have 500 GW of renewable energy by 2030. "We will not just reac

Climate activists throw soup on Van Gogh's 'Sunflowers' in National Gallery

The activists, who are a part of a group called "Just Stop Oil" wants the British government to halt new oil and gas projects

Centre to soon waive compensation cess on coal gasification: Report

After the removal of cess, the cost of producing methanol is expected to come down by Rs 800-900 per million tonnes

Energy crisis shows gasoline demand declining, renewables on the rise

With prices of natural gas and coal heading to record highs and those for crude oil not far below their 2008 peak, the world seems more hooked on carbon than ever

Indonesia's plan to shut coal plants over next 30 yrs struggles for support

The Southeast Asian country plans to eliminate 15 Gigawatt of coal-generation over that time, requiring more than $600 billion of capital support, said Erick Thohir

Fracking giant Liberty Energy says fossil fuels to rule for decades

"We're investing a lot of money in some new energy technologies; some of this is great, but it's not an energy transition," Wright, chief executive officer at Denver-based Liberty Energy said

India aiming at 50% non-fossil fuel energy by 2030: PM Modi in Gandhinagar

Prime Minister Narendra Modi on Sunday reassured the world that by 2030, 50 per cent of India's energy production will be met by non-fossil fuel, and by 2070 it plans 'Net Zero'

Prince William's charity invests in world's biggest backers of fossil fuels

The conservation charity founded by Prince William, second in line to the British throne and who launched the Earthshot Prize, keeps its investments in a bank that is one of the world's biggest backers of fossil fuels, The Associated Press has learned. The Royal Foundation also places more than half of its investments in a fund advertised as green that owns shares in large food companies that buy palm oil from companies linked to deforestation. The earth is at a tipping point and we face a stark choice, the prince, a well-known environmentalist, is quoted saying on the websites of the Earthshot Prize and Royal Foundation. Yet in 2021, the charity kept more than 1.1 million pounds (USD 1.3 million) with JPMorgan Chase, according to the most recent filings, and still invests with the corporation today. The foundation also held 1.7 million pounds (USD 2 million) in a fund run by British firm Cazenove Capital Management, according to the 2021 filing. As with JPMorgan, it still keeps f

India's self-reliance ambition in energy sector faces rising import hurdle

During the financial year 2021-22, India's petroleum imports was around 23.8 per cent of its gross imports and the country was dependent on imports for 86 per cent of its crude oil requirement

More emissions reduction targets will help Indian fossil fuel giants: IEEFA

Global green capital presents a multi-billion-dollar opportunity for Indian power sector giants such as NTPC and Tata Power to fund their clean energy transitions.