Page 7 - Fossil Fuel

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Ahead of G20 summit, bloc poured $1.4 trn into fossil fuels in 2022: Study

G20 countries allocated a staggering USD 1.4 trillion of public funds to support fossil fuels in 2022, aiming to counter the impact of their soaring prices due to the Ukraine war and strengthen energy reserves, a new study has said. The study by independent think tank International Institute for Sustainable Development (IISD) and partners comes as G20 leaders prepare for their summit meeting scheduled for September 9-10 in New Delhi. India, the current G20 president, has made good progress, the study says,highlighting the cut in the fossil fuel subsidies by 76 percent from 2014 to 2022 while boosting support for clean energy. This puts India in a strong position to lead on this issue, the study says. The astonishing sum of USD 1.4 trillion includes fossil fuel subsidies (USD 1 trillion), state-owned enterprise investments (USD 322 billion), and money lent by public financial institutions (USD 50 billion), according to the study. This total is more than double what was seen before t

World entering a highly disruptive green energy era, says Mukesh Ambani

RIL proposes another 5 yrs for him as MD; Jio Financial listing soon

G20 bloc fails to reach agreement on cutting fossil fuels after objections

The G20 member countries together account for over three-quarters of global emissions and gross domestic product, and a cumulative effort by the group to decarbonise is crucial

G20 draft tweaked to reflect dissent on cutting 'unabated' fossil fuels

A draft late on Friday read: "The importance of making efforts towards phase down of unabated fossil fuels, in line with different national circumstances was emphasized"

Achieved target of producing energy via non-fossil fuel sources: Singh

Union minister R K Singh on Friday said that India has achieved its target of producing 43.6 per cent of its total energy through non-fossil fuel sources nine years ahead of the schedule. The Minister of Power and New and Renewable Energy was addressing the opening session of the G20 14th Clean Energy Ministerial meeting and 8th Mission Innovation meeting in Goa. "India has already achieved the target of producing 43.6 per cent of its total energy through non-fossil fuel sources. The country has achieved nine years ahead of its schedule of 2030," he said. India's installed electricity capacity through non-fossil fuel sources is 183 gigawatts (GW), out of the total capacity of 421 GW. "We have 88 GW under installation and 55 GW tendered out. If you take the capacity which is installed and under installation, that comes to about 270 GW, which is well above 50 per cent of our service capacity," he said. Singh said that India will add 50 GW every year. The minister said that the wor

Fossil-fuel demand for electricity may have peaked following RE's growth

From China to Europe, the capacities of solar, battery and wind power are surging, the Rocky Mountain Institute said in an analysis released Thursday

Gadkari pitches for 15% methanol-blended diesel to reduce logistics cost

Sees promise in Assam's methanol economy; has asked state's CM to explore possibility of converting normal to methanol trucks

Fossil fuels 'incompatible with human survival,' says UN chief Guterres

The head of the United Nations launched an angry tirade against fossil fuel companies on Thursday, accusing them of betraying future generations and undermining efforts to phase out a product he called incompatible with human survival. Secretary-General Antonio Guterres also dismissed suggestions by some oil executives including the man tapped to chair this year's international climate talks in Dubai that fossil fuel firms can keep up production if they find a way to capture planet-warming carbon emissions. He warned that this would just make them more efficient planet-wreckers. It's not the first time the UN chief has called out Big Oil over its role in causing global warming, but the blunt attack reflects growing frustration at the industry's recent profit bonanza despite warnings from scientists that burning fossil fuels will push the world far beyond any safe climate threshold. Last year, the oil and gas industry reaped a record USD 4 trillion windfall in net income, Guterres

Renewable energy to rise owing to solar power, high fuel prices: Report

The rollout of solar and wind power installations, which are anticipated to reach 440 gigawatts in 2023, has been boosted by high fossil fuel prices, the report said

Non-fossil fuel-based power generation capacity to be 68.4% by 2031-32

The plan was released today and consists of a review of the last five years (2017-2022) along with a detailed plan for the next five years (2022- 2027)

Investments in green energy now 70% higher than in fossil fuels: IEA

The Paris-based agency said that the war in Ukraine has accelerated momentum behind the deployment of clean energy technologies

Chemistry of producing pure hydrogen from non-fossil fuels revealed

Chemists have laid bare the complete reaction mechanism for an important group of "water-splitting" catalysts, taking scientists closer to making pure hydrogen from renewable energy sources. The chemists at the University of Kansas (KU) and US Department of Energy's Brookhaven National Laboratory achieved this through pulse radiolysis experiments, the results of which are published in the journal Proceedings of the National Academy of Sciences. "Understanding how the chemical reactions that make clean fuels like hydrogen work is very challenging," said co-author James Blakemore, associate professor of chemistry, whose research in Lawrence, Kansas, forms the basis of the discovery. "Our paper presents data hard-won from specialised techniques to understand how a certain catalyst for hydrogen generation does the job. Implementing these (techniques) allowed us to get a full picture of how to make hydrogen from its constituent parts, protons and electrons," said Blakemore. Blakemore to

Coal to stay important: Energy majors at 'Just Transition' meeting

At CIL, challenges would be "the most extreme", said its Chairman and Managing Director Pramod Agrawal

Greenwashing, ESG backlash and transitions

While major banks publicly announce more funding for green projects and India strengthens its transition policies, several US states are moving in the opposite direction

G-7 nation agrees to accelerate phase- out of unabated fossil fuels

For the first time ever, the G-7 says that we must accelerate the phasing out of all unabated fossil fuels, Pannier-Runacher told reporters

NTPC to build more coal plants this year to meet soaring power demand

The projects underscore how even as India sets ambitious long-term decarbonization targets, in the near term it will continue to rely on the dirtiest fossil fuel to meet rapidly growing power demand

India's need for fossil fuel encouraging heatwaves that will cripple it

India's emissions are already on the brink of overtaking those from the European Union. By 2030, they'll account for more pollution than Europe and Japan put together

Getting out of fossils

Unless finances are proportionate to the need, the transition to clean energy is a tough proposition, especially in countries where energy affordability is critical

EU mulls banning new gas, diesel cars by 2035 despite divisions

European Union (EU) energy ministers have approved a ban on the production and sale of new cars using traditional fossil fuel engines by 2035