fossil fuel
Environmentalists Target Bankers Behind Pipeline
In early August, just as protesters from across the country descended on North Dakota to rally against an oil pipeline near the Standing Rock Sioux Reservation, some of the world’s biggest banks signed off on a $2.5 billion loan to help complete the sprawling project. Now, those banks — which include Citigroup and Wells Fargo […]
World’s oceans warming at increasingly faster rate, new study finds
Ocean water has absorbed more than 90% of the excess heat and nearly 30% of the carbon dioxide generated by human consumption of fossil fuels The world’s oceans are warming at a quickening rate, with the past 20 years accounting for half of the increase in ocean heat content that has occurred since pre-industrial times, […]
Fossil fuels receiving over 9 times more finance than renewable energy from world’s top banks
The world’s 25 largest private sector banks channelled at least USD 931 billion into fossil fuel companies in the period 2009-2014, according to a new report launched today by Fair Finance Guide and BankTrack, while over the same period the banks’ financing of renewable energy totalled USD 98 billion. Alexandre Naulot, spokesperson at Fair Finance […]
Fossil fuel divestment is rational, says former Shell chairman
Mark Moody-Stuart laments ‘remarkably little progress’ by oil industry on climate change in last two decades and says divestment is ‘rational’ response The former chairman of Shell has said that investors moving their money out of fossil fuel companies is a rational response to the industry’s “distressing” lack of progress on climate change. Sir Mark […]
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