“Historic moment” as BP writes-off billions of reserves as stranded assets

By |2020-06-23T21:52:02+00:00June 26th, 2020|Energy and Climate Change, News, Pollution, Power Generation|

When you have been writing about the oil industry for decades, it is easy to slip into hyperbolic language when significant events happen. But yesterday was one of these moments. For years, climate activists have been warning Big Oil and their loyal investors that there would come a time when their most prized assets,

European residents don’t want to see a return of pre-Covid air pollution levels

By |2020-06-23T21:36:15+00:00June 24th, 2020|Electric Vehicles, Energy and Climate Change, News, Pollution|

A majority of urban residents across Europe do not want to see air pollution return to pre-Covid-19 levels and support changes in transport to protect clean air, according to a YouGov opinion polling in 21 European cities. Levels of air pollution from traffic and other sources plummeted when countries imposed pandemic lockdown measures. Data

Coronavirus crisis could cause $25tn fossil fuel industry collapse

By |2020-06-16T15:36:51+00:00June 16th, 2020|Coronavirus, Energy and Climate Change, News, Pollution|

Value of reserves could fall by two-thirds as Covid-19 hastens peak in demand, study shows The coronavirus outbreak could trigger a $25tn (£20tn) collapse in the fossil fuel industry by accelerating a terminal decline for the world’s most polluting companies. A study has found that the value of the world’s fossil fuel reserves could

UK Doubled Its Support for Fossil Fuels Since Signing Paris Agreement

By |2020-06-10T08:54:51+00:00June 12th, 2020|Energy and Climate Change, News, Pollution, Power Generation|

In the three years after countries signed the landmark Paris Agreement, the UK nearly doubled its public finance support for fossil fuel projects. A new report shows the UK spent an average of £1.3 billion annually on the projects since countires agreed the climate deal. In contrast, in the same period to the end

Electric vehicles could be as disruptive to oil industry as coronavirus, Suncor CEO says

By |2020-06-10T08:47:47+00:00June 10th, 2020|Coronavirus, Electric Vehicles, Energy and Climate Change, News, Pollution|

The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic, Suncor Energy Inc’s chief executive said on Monday. The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising global oil

BP to ‘fundamentally re-organise’ in pursuit of net zero by 2050 aim

By |2020-03-12T09:51:03+00:00March 12th, 2020|Energy and Climate Change, News, Pollution, Power Generation|

Global oil and gas major BP is to “fundamentally re-organise” its business, establishing a new low carbon power unit and doubling down on clean investments in a bid to become net zero by 2050. In a major strategy announcement unveiled today, new BP chief executive Bernard Looney, who took the reins last week, has

Carbon emissions: Scale of UK fossil fuel support ‘staggering’

By |2020-02-11T16:34:45+00:00February 11th, 2020|Energy and Climate Change, News, Pollution|

A small government agency is supporting fossil fuel projects abroad with estimated carbon emissions of a country the size of Portugal, it has emerged. UK Export Finance (UKEF), a government agency in the Department for International Trade, is spending billions of pounds on the projects, Newsnight researchers have found. This is despite a government

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