A new analysis finds reliance on carbon capture and storage could release an extra 86 billion tonnes of greenhouse gases into the atmosphere between 2020 and 2050.
Despite their promises, governments have not taken enough action to drive down warming projections, with some instead turning to false solutions such as carbon capture and storage to continue the world's reliance on fossil fuels, according to the Climate Action Tracker's annual warming update.
Global climate damages from emissions associated with the top 25 oil and gas ‘carbon majors’ between 1985 and 2018 are estimated at 20 trillion USD compared to the 30 trillion USD they earned over the same period, according to a new report released today by international think tank Climate Analytics.
With the right international funding and policies in place, the Philippines could transition its’ power sector to near-100% renewable energy without compromising on the costs of electricity, reducing its reliance on expensive imports of both coal and gas, and creating up to a million jobs by 2050.
Global efforts to limit warming to 1.5°C are failing across the board, with recent progress made on every indicator — except electric passenger car sales — lagging significantly behind the pace and scale that is necessary to address the climate crisis.