About: fossil fuels
IEA: States should invest $3 trillion in sustainable energy
The International Energy Agency (IEA) has presented its COVID-19 economic programme to facilitate the transition to an environmentally friendly energy economy. In doing so, it has distanced itself unusually clearly from the fossil market and is focusing entirely on renewables. EURACTIV Germany reports.
Merkel reaffirms support for raising EU’s 2030 climate target to 50-55%
Chancellor Angela Merkel has insisted that the European Green Deal must be the driving force behind Europe's economic recovery plan. However, Germany has, so far, bailed out its fossil fuel industry like no other EU member state - and it's still a long way away from presenting its national climate plan. EURACTIV Germany reports.
France calls for carbon price floor to counter oil crash
The COVID-19 crisis should strengthen Europe’s resolve to achieve the climate objectives of the Paris Agreement by triggering policies that maintain fossil fuel prices above a minimum level, French authorities have said.
Germany needs more LNG to complement renewables, IEA says
The International Energy Agency has praised Germany's push for wind and solar power but urged the country to increase LNG imports in order to reach its 65% renewable energy target for 2030. EURACTIV Germany reports.
Climate emergency requires real action now, not building new LNG terminals and gas pipelines
With the so-called fourth PCI List of energy infrastructure projects now approved in the European Parliament, the battle for a future-proof EU energy policy continues, write MEPs Jutta Paulus and Marie Toussaint.
Oil and gas sector ‘losing its social licence to operate’, UK boss warns
Tim Eggar, chairman of the UK's Oil and Gas Authority (OGA), sent shockwaves through the industry on Wednesday (15 January) when he said growing public awareness about climate change was putting the sector's very survival at stake.
COP25: Connecting the dots on climate finance
As negotiators in Madrid are trying to break the impasse on global climate finance governance, tectonic shifts in the real economy are signaling changing tides for the oil & gas industry. Far from being separate adjustments, these changes are part of a one, large movement where Europe is at the fore-front. MEP Bas Eickhout explained to EURACTIV why.
Green finance sector expected to discuss issue of climate justice at COP25
Just before the COP25, which will take place in Madrid from 2-13 December, France's leading financial institutions discussed the issue of climate justice and corporate social responsibility at the Climate Finance Day, which took place in Paris on 29 November. EURACTIV France reports.
Juncker Commission stalls EU climate bank in starting blocks
While the European Investment Bank is making efforts to end fossil fuel funding, the Juncker Commission is doing its best to frustrate it – and to undermine Ursula von der Leyen, writes WWF’s Sébastien Godinot.
UN climate summit, day #2: Few announcements in the end – ‘How dare you’
Over this special series on the UN climate action summit (23-25 September), EURACTIV gives you a glimpse into the goings on in New York and what is driving the conversation there. In this edition: An angry Greta Thunberg, a technical Angela Merkel, a passive Donald Trump and four ambitious EU member states.
As the sun sets on oil, the sun will rise on solar power
When shares in Saudi Aramco eventually go public, there will doubtless be a feeding frenzy on what promises to be the largest initial public offering ever seen. More significantly, the move would also signal Saudi Arabia’s recognition that sunset for fossil fuel is just over the horizon, writes Jonathan Gornall.
Germany eager to become global leader in developing hydrogen technologies
Germany intends to invest €100 million annually into the research of hydrogen technologies. This could be the business of the future, as well as the country's next top export. However, the future of green gas is still extremely shaky. EURACTIV Germany reports.
Pope Francis calls for ‘radical energy transition’ to stem global warming
Pope Francis said on Friday (14 June) that carbon pricing is “essential” to stem global warming – his clearest statement yet in support of penalising polluters – and appealed to climate change deniers to listen to science.
EU fossil gas investments undermine bloc’s climate goals, campaigners say
The European Union's investment arm risks torpedoing the bloc's commitment to abide by the Paris climate goals by financing billions of euros worth of new natural gas infrastructure projects, new analysis said Thursday (13 June).
Gas, a prominent guest at German energy transition event
As Germany is gradually phasing out nuclear and coal energy, Berlin is increasingly considering gas as key in bridging the gap between a fossil-fuels based and a low carbon economy.
‘Historic breakthrough’: Norway’s giant oil fund dives into renewables
Norway’s $1tn oil fund, the world’s largest sovereign wealth fund, is to plunge billions of dollars into wind and solar power projects. The decision follows Saudi Arabia’s oil fund selling off its last oil and gas assets. EURACTIV's media partner, The Guardian, reports.
Diverting fossil fuel investments to renewables is not enough
Debate over the cost merits of fossil fuels against renewable power generation has traditionally focused on the levelised cost of electricity (LCOE), which has dropped dramatically in the case of wind and solar power. But that ignores the upfront capital costs, which are still up to seven times higher for renewables, writes Mike Parr.
Nuclear power excluded from EU’s green investment label
The European Parliament voted on a proposed classification for sustainable assets on Thursday (28 March), voting to exclude nuclear power from receiving a green stamp of approval on financial markets.
Time for EU bank to comply with EU’s climate objectives
As the European Investment Bank (EIB) holds a meeting in Brussels today (25 February) to consult the public on its new energy policy, Wendel Trio reflects on the role the EU’s bank should have in tackling the climate crisis.
Environmental organisations ‘very disappointed’ with new ERDF Regulation
The European regional development fund currently amounts to €200 billion. German environmental organisations have criticised the fact that its new version sets the wrong priorities. EURACTIV Germany reports.
What a difference a week might make for Europe’s climate ambition
Progress in the Long Term Strategy for 2050 and at the climate conference in Katowice will be for nothing if European ministers allow disputes over the size of the next EU budget to roadblock important moves towards funding a zero-emissions energy transformation, write Raphael Hanoteaux and Markus Trilling.
Environmental organisations: German-French climate partnership
Environmental organisations are calling on Angela Merkel and Emmanuel Macron to coordinate their countries’ climate and energy transitions. EURACTIV Germany’s media partner Der Tagesspiegel reports.
Catholic bishops call for faith in 1.5°C Paris target
Church leaders urged governments around the world to ramp up their climate action efforts on Friday (26 October), calling for “ambitious implementation” of the Paris Agreement.