The International Energy Agency (IEA) says it is the 'largest supply disruption in history'. With the disruption expected to have a lasting impact on prices, governments around the world have introduced measures to limit the impact on consumers and the economy.
The Trump administration has teed up the entire Gulf region for a Deepwater Horizon sequel with its approval of BP's extremely risky ultra-deepwater drilling project, said Brettny Hardy, senior attorney at Earthjustice, one of the groups.
One of the key reasons for India's withdrawal appears to be the steadily declining relevance of COP in driving meaningful global climate action. The complete erosion of trust among countries at the Belem summit in Brazil, where several nations reneged on previously agreed commitments, seems to have contributed significantly to this decision.
Researchers have known since at least 2008 that wildfires can create chromium-6, but a new study, published in the journal Environmental Science and Technology in November, is the first to report details such as how long it might persist in groundwater.
At a young age, I learned quickly how oil wealth and power could burn the land while people struggled. I saw heat rise off the streets, the Nile strained, and the air thickened with injustice. In my teenage years, through Aotearoa, being on the edge of the Pacific, I felt the ocean breathing heavy, swallowing the shores of islands that have done the least to cause this harm.
The overarching message of The Economics of Climate Change: The Stern Review was that failing to invest in mitigating climate change would exact an alarmingly high price, estimated between 5% and 20% of global GDP per year.
The UN-run market allows companies and countries to offset their excess emissions by financing projects that cut greenhouse gases in other nations. The new initiative involves a clean cooking project in Myanmar, which distributes efficient cookstoves that reduce pressure on local forests. Implemented in partnership with a South Korean company, the project will generate credits that will count towards the climate targets of South Korea and Myanmar.
But as this nascent field grapples with questions of legitimacy, scalability, and accountability, a critical challenge remains: How do we build the infrastructure needed to track, verify, and certify that carbon has actually been removed and stays removed? Meet Hannes Junginger-Gestrich, CEO of Carbonfuture, a company helping define the monitoring, reporting, and verification (MRV) infrastructure that could transform carbon removal from scattered efforts into a functioning ecosystem.
The world spends 30 times more money destroying nature than protecting it. That's according to a new report from the United Nations Environment Programme (UNEP) that exposes a massive gulf between so-called "harmful investments" and financing that promotes nature preservation. The global environment agency's latest "State of Finance for Nature" (SNF) report is calling to phase out the US$7.3 trillion (6.2 trillion) in global investments that damage nature including into high-emissions energy infrastructure and manufacturing, for example.