India aims to reduce its dependence on fossilfuels by achieving 500 GW of non-fossil power generation capacity by 2030 and reaching net zero by 2070.
The Brahmaputra basin has more than 80 percent of India’s untapped hydro potential.
To unlock private sector capital and reduce reliance on fossilfuels, an additional $2 billion will be injected into the Clean Energy Finance Corporation to leverage $6 billion in private investment.
According to the governor’s office, the hydrogen hub will facilitate renewable hydrogen production that will cut fossilfuel use throughout California by 2 million metric tons annually.
Its largest, the SPDR S&P 500 FossilFuel Reserves Free fund, is not necessarily free from fossilfuels. While it doesn’t own companies that produce fossilfuels, it does hold refiners and utilities that use fossilfuels.
Today, we still get 80 percent of our energy in the United States from fossilfuels and nuclear power. Wind and solar are stuck at less than 10 percent. This is some investment we’re making.
“Although it does not rely directly on Russian energy supplies, the UK’s continued dependence on fossilfuels leaves it heavily exposed to volatility on international commodity markets for oil and gas.
At one point activists from the anti-fossilfuel group Climate Defiance rushed the field, but were quickly tackled by police officers.
Eight of them will face federal charges over the protest action.
The group posted on X: "8 brave people are currently in police custody because they stood in the way of the fossilfuel madness. We refuse to die for the profits of a few!"
Fossil-Fuel Shares Are Performing
The fossilfuel industry, a tried-and-true enterprise, has done exceptionally well this year, even beating out many blue-chip tech stocks.
“We will continue to invest in and support clients who are investing in fossilfuels and in helping them transition to cleaner energies,” Jane Fraser, CEO of Citigroup, said.
Greenpeace Australia Pacific accused both governments of “quashing promised national nature law reforms” due to pressure from fossilfuel and mining companies.
Sunak to commit to attending the COP28 summit in Dubai in November and join other countries such as Denmark, France, and Germany in calling for an “urgent phase-out of fossilfuels.”
Coal, Oil, and Automotive Industries
While Miliband hailed the progress of the UK's nuclear fleet and the jobs it will be sustaining, fossil-fuel based industries have been impacted as a result of the green policies of successive governments.
Burgum said among the swiftest, least expensive ways to boost base-load electricity would be lifting Biden-imposed restrictions on fossilfuel development on public lands and offshore, which Trump did in an “Unleashing American Energy” executive actions
