HSBC says the world is rapidly depleting its carbon budget, approaching ‘Peak Planet’ and must achieve a peak in emissions by 2020, leaving much of its fossil fuels in the ground. Impossible? HSBC says not, and is encouraged by growing public awareness, favourable economic drivers and falling technology costs for renewables.
Doctors’ group says governments’ persistent refusal to apply ‘full cost accounting’ to energy choices poses risk to human health – and the economy.
The IEA last year said if the world wanted to meet climate targets, it would have to leave two thirds of its fossil fuels in the ground. So what does unburnable carbon mean for oil and gas giants? HSBC crunches the numbers and says up to 60 per cent of the value of fossil fuel companies could be at risk.
Some utilities hold fast to decades-old strategies and asset portfolios, but their bankers are thinking about the future.
How long will US colleges keep investing in companies whose stock price is based on the destruction of a livable climate?
The anti-science operatives who defended cigarettes are now deploying their playbook to downplay the fossil fuel industry’s role in driving climate change.
New analysis shows rich countries spent $58bn on fossil fuel subsidies in 2011 – roughly five times the spend on climate aid in developing countries.
The federal government’s long-awaited Energy White Paper has trumpeted the benefits of fossil fuels, while ignoring the costs – the toll on human health.
‘Big four’ banks biggest backers of fossil fuel expansion: report
Report names Australia’s ‘big four’ banks as heaviest lenders to coal and gas expansion in Barrier Reef area, sparks calls for customer boycott.