As a severe power crunch roils China’s northeastern industrial heartland, senior officials face mounting pressure from alarmed citizens to ramp up coal imports thick and fast in order to keep lights on, factories open and even water supplies flowing. With electricity shortages sparked by scant coal supply crippling large sections …
Read More »G7 Countries Agree to Stop International Funding for Coal
The world’s seven largest advanced economies have agreed to stop international financing of coal projects that emit carbon by the end of this year, and phase out such support for all fossil fuels, to meet globally agreed climate crisis targets. In a communique on Friday, the Group of Seven nations …
Read More »CO2 Increase for 2021 Predicted to be Largest in over a Decade
Global CO2 emissions from energy are seen rising nearly 5% this year, suggesting the economic rebound from Covid-19 could be “anything but sustainable” for the climate, the International Energy Agency says. The IEA’s Global Energy Review 2021 predicted carbon dioxide emissions would rise to 33 billion tonnes this year, up …
Read More »Big Oil Is in Big Trouble. What will Happen Next?
The Covid-19 pandemic has caused a drop in demand and prices like never before. Here’s how global oil giants are dealing with the mounting losses. Global oil giants posted massive losses in 2020, as the coronavirus pandemic brought oil and gas demand to a grinding halt and caused already-weak prices …
Read More »US Seeks ‘Moratorium’ on Nord Stream 2 Gas Pipeline
US has continued to put pressure on Germany and the EU to halt construction of the Nord Stream 2 gas pipeline linking Russia to Europe, which Washington sees as a “political tool” of the Kremlin, a top envoy said. “Now is the time for Germany and the EU to impose …
Read More »China Aims to Become Carbon-Neutral by 2060
Chinese President Xi Jinping says his country will aim to stop adding to the global warming problem by 2060. Xi’s announcement during a speech Tuesday to the UN General Assembly is a significant step for the world’s biggest emitter of greenhouse gases. Calling for a “green revolution,” Xi said the …
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