The UK government’s development bank has bowed to calls to end fossil fuel financing abroad by promising to invest only in companies that align with the Paris climate agreement. The CDC Group revealed its new climate strategy, which will end support for the most polluting fossil fuel projects, including the production of oil and coal, and channel almost a third of its spending towards climate finance. The publicly owned investor, which invests in developing countries in Africa and Asia, will end financing for coal mining, and oil and gas production, as well as in new or existing power plants and refineries that use coal or heavy oil. The UK government is under growing pressure to end its support for overseas fossil fuel projects after campaigners revealed that over £3bn in public money was used to support polluting projects abroad since the Paris climate agreement was signed.
Guardian 2nd July 2020 read more »
A Greenpeace boss has vowed that his organisation “will not be silenced” despite facing a lengthy prison sentence over North Sea protest action in 2019. The fate of Greenpeace UK chief executive John Sauven could be decided today, as US oil rig operator Transocean pushes for jail time and “unlimited fines” as punishment for 12 days of activism that attempted to halt a drilling rig reaching BP’s Vorlich field. It is a two-well development 150 miles east of Aberdeen. A ruling on the case will be held at the Court of Session in Edinburgh.
Energy Voice 3rd July 2020 read more »