#Sludge Report — Who Is Funding The Fossil Fuel Industry?
Banks have provided trillions of dollars in financing for fossil fuel projects in recent years. Those investments endanger us all.
Banks have provided trillions of dollars in financing for fossil fuel projects in recent years. Those investments endanger us all.
At the same time as China is leading the world in exporting green environmental goods and services and building up the globe’s largest renewable energy industry, the country is also simultaneously funding over a quarter of the coal plants currently under development outside of the country.
Total global energy investment fell by 2% in 2017, totaling $1.8 billion according to the International Energy Agency’s World Energy Investment 2018 report which was published this week, which also showed $750 billion was spent on the electricity sector, compared to only $715 billion on oil & gas supply, while investment in renewables and energy efficiency fell by 3%.
Originally Published on the ECOreport Business as usual is no longer a viable option for the fossil fuel industry. At the present rate of consumption, the world is heading towards a 6°C rise in global temperatures. Fossil fuel companies are exposing their investors to financial and climate risk. These were … [continued]
Originally published on Climate Progress. By Joe Romm Bloomberg New Energy Finance has a must-read piece for investors on how the smart money is beginning to notice the quicksand on which fossil fuel stock prices are built. We reported back in April that BNEF said 70 percent of new power generation capacity added between … [continued]
This article first appeared on RenewEconomy. Call it an act of the greatest folly, or simply one of greed. But it seems that the world’s energy companies are hell-bent on spending up to $6 trillion of shareholder funds and bank debt in the next decade on fossil fuel investments – … [continued]
Adam Jones, Special Assistant for Energy Policy at American Progress, wrote a great post on Climate Progress this week on 6 things you really need to know about the value of renewable energy. They are all things that we have covered many, many times here on CleanTechnica, but they are … [continued]