Paris Agreement

Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact

Read time: 6 mins
JPMorgan Chase building in New York City

A report published today names the banks that have played the biggest recent role in funding fossil fuel projects, finding that since 2016, immediately following the Paris Agreement's adoption, 33 global banks have poured $1.9 trillion into financing climate-changing projects worldwide.

The top four banks that invested most heavily in fossil fuel projects are all based in the U.S., and include JPMorgan Chase, Wells Fargo, Citi, and Bank of America. Royal Bank of Canada, Barclays in Europe, Japan’s MUFG, TD Bank, Scotiabank, and Mizuho make up the remainder of the top 10.

BP Backs Shareholder Call to Align its Strategy With Paris Climate Goals

Read time: 3 mins
BP gas station sign

By , Climate Home News. This article originally appeared on Climate Home News.

BP will back a shareholder push for it to begin reporting on how its strategy fits with the Paris Agreement’s goals, the British oil and gas major said on Friday.

John Bolton

John Bolton

Credentials

Read time: 13 mins

Germany Plans to Quit Coal by 2038 'But There's a Problem'

Read time: 4 mins
Coal power plant in Germany

By Lorraine Chow, EcoWatch. Crossposted with permission from EcoWatch.

In an effort to fight climate change, Germany announced plans to quit coal mining and burning by 2038.

All 84 of the country's coal-fired power plants will be shut down over the 19-year time frame, a government-appointed commission announced Saturday, according to The Los Angeles Times.

It's a significant move as nearly 40 percent of Germany's electricity comes from coal-fired power plants.

An Indian Perspective on the UN Climate Meeting: Not Much Help for the World’s Poor and Vulnerable

Read time: 6 mins
Brahmaputra River in India

By Arun Agrawal, University of Michigan

The international climate change conference that concluded in Katowice, Poland on Dec. 15 had limited ambitions and expectations — especially compared to the 2015 meeting that produced the Paris climate agreement. It will be remembered mainly for its delegates agreeing on a common “rulebook” to implement existing country commitments for reducing emissions.

The deal is vital. It keeps the new global climate regime alive. It maintains a path to deliver financial and technical assistance to vulnerable countries and peoples. Actors with quite divergent interests, including the United States, the European Union, oil producing states, China, India, and small island nations all accepted a common approach to measuring progress.

But from my perspective as a social scientist focusing on conservation and international development, the technical orientation of the Katowice meeting failed to match the urgency of needed climate action. Negotiators made little progress toward deeper emissions cuts. Nor did the meeting do much to help the most vulnerable people, ecosystems, and nations.

COP24: Paris Agreement Rulebook 'Does Not Deliver What The World Needs'

Read time: 8 mins

Following two tension-filled weeks at the UN climate talks in Poland, countries finally agreed on the operating manual to implement the Paris Agreement. While this rulebook is essential to kick-start the agreement in 2020, campaigners and scientists have warned of a stark disconnect between the urgency to prevent climate breakdown and the failed opportunity for radical action.

The rulebook covers a wide range of issues such as how countries should report their greenhouse gas emission reductions and who should pay what to help developing countries leapfrog fossil fuels and develop sustainably.

Given the elections of climate deniers Donald Trump in the US and Jair Bolsonaro in Brazil and strong obstruction from powerful oil and gas exporting countries such as the US and Saudi Arabia, the talks started in Katowice with low expectations.

Major Health Study Shows Benefits of Combating Climate Change

Read time: 4 mins
Commuters by bike share in New York City

During the holiday season, people often drink toasts to health. There’s something more we can do to ensure that we and others will enjoy good health now and into the future: combat climate change.

Climate change is the biggest global health threat of the 21st century, and tackling it could be our greatest health opportunity,” according to the medical journal The Lancet.

The Lancet Countdown: Tracking Progress on Health and Climate Change, by 150 experts from 27 academic institutions and intergovernmental organizations, including the World Health Organization and the World Bank, is blunt: “A rapidly changing climate has dire implications for every aspect of human life, exposing vulnerable populations to extremes of weather, altering patterns of infectious disease, and compromising food security, safe drinking water and clean air.”

If Democrats Want a 'Green New Deal,' These Congressional Investigations Need to Happen

Read time: 11 mins
Sunrise Movement campaigners holding signs

A startling new report on climate change from the Trump administration makes clear that if the U.S. government and other major polluters don't do more to reduce greenhouse gas emissions, the resulting climate impacts will be dramatic and costly, both to the U.S. economy and the long-term livability of the planet.

These dire warnings are nothing new, but they come at a time when the Democratic party appears potentially willing to invest serious political capital on the issue of climate change. A new generation of Democrats, like Alexandria Ocasio-Cortez, the freshly elected New York representative, are pushing the old guard towards a “Green New Deal.”

But if Dems want that effort to succeed, they have some work to do first.

Paris Agreement Fight Could Push US Out Permanently, Warn Top Obama Officials

Read time: 6 mins
Todd Stern and Sue Biniaz, top US climate negotiators under Obama

By  

A deal in Poland that draws a hard line between developed and developing countries may be unacceptable to future administrations — Democratic or Republican.

UN climate talks this fortnight could determine whether a post-Trump U.S. president would rejoin the Paris Agreement, according to two former top Obama officials.

Why Plans to Turn America’s Rust Belt into a New Plastics Belt Are Bad News for the Climate

Read time: 12 mins
Pipes from the former Bethlehem Steel Plant in Pennsylvania

The petrochemical industry anticipates spending a total of over $200 billion on factories, pipelines, and other infrastructure in the U.S. that will rely on shale gas, the American Chemistry Council announced in September. Construction is already underway at many sites.

This building spree would dramatically expand the Gulf Coast’s petrochemical corridor (known locally as “Cancer Alley”) — and establish a new plastics and petrochemical belt across states like Ohio, Pennsylvania, and West Virginia.

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