Tag Archives: fossil fuel subsidies

World Bank Group Commits To Phasing Out Financing For Upstream Oil and Gas

Fossil Energy Development and the World Bank

Shift the subsidies Public financing helps fossil fuel projects continue. Take the World Bank Group which provided an average of more than $1 billion a year in upstream oil and gas financing from 2014 to 2016, according to Oil Change International. The good news is that after 2019, financing for those projects will no longer come from the WBG, except in extreme circumstances. The …

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Institutional Investors Engage Mining Companies on Carbon Asset Risk

In the run-up to the Paris climate treaty talks, a network of 270 institutional investors managing over $21 trillion in assets has published a carbon asset risk guide for the mining industry. Concerned about the risk of stranded mining company assets, such as coal mines, the guide is meant to constructively engage mining executives and assure they are working to reduce carbon asset risk exposure, reducing greenhouse gas emissions and finding sustainable alternatives.

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Friends Coalition Calls for Phase Out of Fossil Fuel Subsidies

The Friends of Fossil Fuel Subsidy Reform -- the governments of Costa Rica, Denmark, Ethiopia, Finland, New Zealand, Norway, Sweden and Switzerland are calling on their counterparts to enact plans to phase out fossil fuel subsidies in the run-up to December's Paris climate treaty summit.

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Infographic: The Cost of Renewable Energy

What’s the true cost of renewable energy? The environmental and societal benefits of adopting a clean energy path are clear. As the true costs of continued reliance on fossil fuels, including the “doubling-down” of exploiting dirtier, more dangerous and harder to access fossil energy like tar sands, oil shale and mountaintop removal, the one clear added benefit of renewable energy is an economic one. In …

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Is Phasing Out Fossil Fuel Subsidies Even on the Agenda in Warsaw?

For all their potential promise, apparent earnestness and gravity – not to mention their possible effects and potential ramifications – it’s hard at times not to be cynical about high-level political negotiations. Such might be felt of the United Nations (UN) climate treaty negotiations which got under way this week in Warsaw, Poland. People have good reason to be skeptical of the climate treaty …

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