Fossil fuel exploration should cease globally by 2030 and funding to rescue poor countries from the impacts of the climate crisis should reach $200bn (£165bn) to $400bn a year by the same date, according to proposals in a UN report before the next climate summit. Countries were still “way off track” to meet the goals...
The EU’s new climate commissioner has been criticised for backsliding on a commitment to push for a fossil fuel phase-out at the upcoming COP28 climate summit in Dubai, ahead of talks on Monday (16 October) where EU countries are expected to agree their stance. Dutchman Wopke Hoekstra was officially nominated on Monday (9 October), on...
If global warming reaches 2°C, similar heatwaves are predicted to happen every five or six years, a new study warns. Human-induced climate change made the recent winter heatwave in South America 100 times more likely, according to a study published on Tuesday. Global warming was the main driver of the extreme weather that scorched much of...
A little more than a month remains before the start of the next United Nations Climate Summit, known as COP28, taking place in Dubai. But the already fraught talks are facing another potential obstacle: the threat of regional Mideast instability following Hamas’ terrorist attacks in Israel. Why it matters: At COP28, countries are tasked with weighing actions...
The results of this year’s “Epson Global Climate Barometer” are in, and it captures views of over 30,000 people in 39 countries, attempting to better understand global responses to climate change. The survey reveals that while globally more people now cite climate change as a major global issue over any other, the issue that seems...
The UN failed short of a US$10 billion target after the US and other wealthy nations failed to fulfil their climate finance pledges at a crucial climate financing conference held last week in Bonn, Germany. Last week’s Bonn conference on climate change witnessed a significant setback as the US and other rich countries failed to...
Exxon Mobil has agreed to pay $59.5 billion for rival Pioneer Natural Resources in a deal that will secure the energy giant’s status as the fracking leader in the all-important Permian Basin—a region that stretches across West Texas and New Mexico and produces nearly 40% of all U.S. oil and 15% of all U.S. natural gas. If the acquisition survives a...
The political response to the climate crisis remains largely inadequate in the face of heat waves, hurricanes, floods and forest fires that are accelerating and intensifying. The political inertia can be explained, among other things, by the stranglehold of fossil fuel interests on political decision-makers, and the strong influence polluting industries have on the spheres of power in...
The IssueRussian independent Lukoil has long been one of the country’s most active companies abroad. With minimal prospects for domestic expansion the company remains hungry for geographic diversification. The war in Ukraine has complicated its efforts but it continues to find willing partners in countries with friendly — or at least neutral — policies toward...
In a significant move towards addressing climate change, the World Bank, under President Ajay Banga, announced on Wednesday a substantial reduction in fossil fuel funding while defending its $170 million investment in natural gas as part of its climate strategy. The bank’s reforms could potentially boost its funding capacity to $150 billion over the next decade. However,...