A multi-trillion dollar showdown over energy’s future
Over the past few years, clean energy has overtaken fossil fuels in terms of global spending, but one place is still falling short: developing economies.
Over the past few years, clean energy has overtaken fossil fuels in terms of global spending, but one place is still falling short: developing economies.
While the shipping sector is making some moves toward decarbonising, progress is relatively limited so far, with the vast majority of the world’s fleet still running on oil.
"We cannot save a burning planet with a fire hose of fossil fuels," Guterres said in a speech to the COP28 summit in Dubai.
According to the report's author Purva Jain, an energy analyst at IEEFA, "Biogas has the potential to replace natural gas and other high-emission fossil fuels.
The political inertia can be explained, among other things, by the stranglehold of fossil fuel interests on political decision-makers, and the strong influence polluting industries have on the spheres of power in North America.
Overall coal imports during April to August also declined by 10.3 per cent to 103.93 MT, over 115.93 MT in the year-ago period, according to data compiled by mjunction services ltd.
Trading volumes on the Indian Gas Exchange are set to rise due to a greater availability of cheaper supplies, Chief Executive Officer Rajesh Kumar Mediratta told Bloomberg Television in an interview.
The nation has set itself a target to reach net zero by 2070. Many Western countries have set a mid-century goal to meet net zero, although political pressure has put some of their decarbonisation plans at risk.
His government is expected to approve the development of Rosebank, near Scotland's Shetland Isles -- believed to be the UK's largest undeveloped oil and gas field -- as well as other sites in the nearby North Sea imminently.
It added that the temperatures will continue to increase and extreme weather will worsen until the world drastically cuts fossil fuel use and reaches net-zero emissions
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