G7 Countries Promise to Stop Financing Coal — Don’t Set Date to Stop Burning It

G7 Countries Promise to Stop Financing Coal — Don’t Set Date to Stop Burning It

by Ashira Morris, ODP Staff Writer World leaders from the Group of 7 countries wrapped up their first post-pandemic in-person summit on Sunday, and the climate crisis was one of the primary agenda items. The heads of state from the U.S., U.K., France, Germany, Canada, Italy, and Japan (as well as the European Union) Agreed […]

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Poland Sets Date to Close Europe’s Dirtiest Power Plant

Poland Sets Date to Close Europe’s Dirtiest Power Plant

By Ashira Morris, ODP Staff Writer This week, Poland announced it will close the coal-fired Belchatow power plant by the end of 2036. The country’s national energy group opted not to develop an open-pit coal mine to power the plant after deciding it would not make financial sense. The decision comes as Poland’s Lodz region […]

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G7’s Green Recovery: Promises Kept?

G7’s Green Recovery: Promises Kept?

The G7 countries have spent more on fossil fuels than clean energy since last March, a new study led by the non-profit Tearfund shows. 

Why This Matters: The economic upheaval of the pandemic and its accompanying stimulus could have been a chance to pump money into the country’s net-zero goals. Instead, it appears that the members propped up the very industries that are increasing carbon in the atmosphere.

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State Treasurers Threaten to Pull Assets Out of Banks that Divest from Fossil Fuels

State Treasurers Threaten to Pull Assets Out of Banks that Divest from Fossil Fuels

American financiers are moving to divest from fossil fuels to help the U.S. reach net-zero carbon emissions, but some state Republicans are fighting back. Fifteen Republican state treasurers are now threatening to pull hundreds of billions of dollars worth of assets from large financial institutions if they move forward decarbonizing their portfolios per a letter they wrote to Climate Envoy John Kerry. 

Why This Matters: Banks and financiers have invested billions in destructive environmental practices. Deforestation funded by the world’s largest banks increased in 2020 despite COVID-19.

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Biden’s Budget Pledges $36B for Climate, Nearly Doubling Federal Spending On It

Biden’s Budget Pledges $36B for Climate, Nearly Doubling Federal Spending On It

The Biden administration released its detailed budget proposal on Friday and it contained $36 billion in total for climate, a huge increase in climate-related spending. 

Why This Matters:  Biden is making good on campaign promises, and he proposes to pay for it by keeping another promise and ending subsidies to fossil fuels that would have cost billions.

 

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Enbridge Continues Operation Despite Whitmer’s Cease and Desist

Enbridge Continues Operation Despite Whitmer’s Cease and Desist

by Amy Lupica, ODP Staff Writer Canadian energy company Enbridge will continue to operate a pipeline transporting oil from the U.S. to Canada–despite Michigan Governor Gretchen Whitmer’s order to halt operations–– stating that the governor did not have the authority to cease the pipeline’s operations. The Line 5 pipeline transports millions of barrels of crude oil […]

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