news
From Union of Concerned Scientsts
Quotes:
- The hypocrisy of the world’s biggest banks on climate change keeps mounting. Last month, the British-based Bureau of Investigative Journalism (TBIJ) reported that London-based HSBC, one of the world’s top-10 biggest banks, has helped raise $47 billion for the fossil fuel industry since its 2022 announcement that it would not finance new gas and oil infrastructure.
- In response to the report, the bank told TBIJ that its investments remain “science-based,” under a presumption that “net zero-aligned scenarios require continued, though declining, financing of fossil fuel supplies to meet energy demand, security, and affordability during the transition.”
- The United Nations’ Intergovernmental Panel on Climate Change warns that all scenarios to meet the Paris Agreement’s targets for holding planetary temperatures under 1.5 degrees Celsius, or 2.7 degrees Fahrenheit from pre-industrial levels require “rapid and deep and, in most cases, immediate greenhouse gas emissions reductions in all sectors this decade.”
- The International Energy Agency said the world last year saw record growth in solar power, adoption of electric vehicles, and global clean energy investments that outstripped fossil investments last year by $1.74 trillion to $1 trillion.
[...]
Read the full post at Union of Concerned Scientsts.
